Tag Archives: Nasdaq

Financial Daily Dose 9.9.2020 | Top Story: Luxury-Goods Giant LMVH Pulls Out of $16 Billion Deal to Acquire Tiffany & Co.

BY: Michael D. Reif | September 9, 2020

Blaming a “U.S. move to impose tariffs on French goods,” luxury brand conglomerate LMVH is pulling out of a proposed $16 billion deal to buy jeweler Tiffany & Co. Tiffany is now suing to enforce the ill-fated agreement – Bloomberg and NYTimes and WSJ and MarketWatch Markets continued their slide on Tuesday, with tech stocks … Continue reading

Financial Daily Dose 5.20.2020 | Top Story: Fed Chair and Treasury Secretary Urge Action to Support U.S. Economy

BY: Michael D. Reif | May 20, 2020

In testimony to the Senate Banking Committee on Tuesday, Fed Chair Powell and Treasury Secretary Mnuchin both “offered a stark assessment of the fragile state” of the U.S. economy, though they differed in a solution. Powell stressed the need for additional monetary support from Congress and the Fed for states and businesses, while Mnuchin focused … Continue reading

Financial Daily Dose 5.12.2020 | Top Story: Fed Launches ETF Buying in Effort to Aid Credit Markets

BY: Michael D. Reif | May 12, 2020

For the first time, the Federal Reserve system will begin buying corporate bonds—all part of the central bank’s efforts to “support the economy and financial system in the coronavirus crisis.” The NY Fed will kick things off with hundreds of billions in ETFs, which it views as “a fast way to direct money rapidly into … Continue reading

Financial Daily Dose 3.13.2020 | Top Story: COVID-19 Fears Push Wall Street to Worst Losses Since Black Monday

BY: Michael D. Reif | March 13, 2020

It’s been a week or so, and we’re running out of ways to say that this is bad. But it certainly is. Your bear market stats for the day: the biggest daily drop by percentage for both the S&P 500 and the Dow Jones Industrial Average since Black Monday in 1987. The Dow lost 10%, … Continue reading

Publicly Traded Companies Continue to Face High Volume of Securities Fraud Cases as Markets Tumble

BY: Lisa M. Coyle | March 12, 2020

Recent tumultuous markets seem to have brought with them a continued flurry of stock drop cases, including five that were filed last week alone in New York, New Jersey, and California. The putative class actions, which seek hundreds of millions of dollars in claimed losses in the form of share price declines, involve two cannabis … Continue reading

Financial Daily Dose 7.2.2019 | Top Story: OPEC Nations Cut Production into 2020

BY: Michael D. Reif | July 2, 2019

OPEC nations met yesterday and agreed to continue their production cutting goals into 2020 in an effort to, according to the experts, “prop[] up prices while demand for oil is weakening” – NYTimes and Bloomberg Beverage giant AB InBev is launching a massive Hong Kong-based IPO for its Asia Pacific beer unit that’s expected to … Continue reading

Financial Daily Dose 6.11.2019 | Top Story: Opioid Maker Insys Files for Chapter 11 Protection

BY: Michael D. Reif | June 11, 2019

Opioid manufacturer Insys Therapeutics, which just last week agreed to pay $225 million to “settle a federal investigation into the marketing practices for its powerful fentanyl painkiller,” has filed for bankruptcy protection, announcing that it will continue operating while putting together a plan to pay its creditors – NYTimes and WSJ and Law360 More details … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | August 28, 2018

As expected based on news over the weekend, the US and Mexico have announced a preliminary deal to revise “key portions” of the North American Free Trade Agreement. Notably, Canada is thus far left out in the cold – NYTimes and WSJ and Bloomberg And China? Well, even colder – Bloomberg Pepsi’s recent multi-billion dollar … Continue reading