German sportswear firm Adidas reported stronger-than-anticipated second-quarter net profit on Thursday, with the company saying it remains firmly on track to hit its full-year targets despite taking an impairment charge on its struggling Reebok brand. Net profit over the second quarter rose 20 percent to 418 million euros ($485 million), beating analyst expectations of 387
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Rite Aid Corporation and Albertsons Companies announced on Wednesday they are terminating their merger agreement the evening ahead of a shareholder vote over the deal. The $24 billion deal, announced in February, has faced push-back from a number of retail investors as well as top ten shareholder Highfields Capital Management. Critics have argued the deal
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The American Medical Association, which represents U.S. physicians, urged the U.S. Justice Department on Wednesday to stop CVS Health‘s plan to buy insurance provider Aetna, saying the deal could result in higher prices for prescription medicines. The AMA said that the $69 billion deal, announced in December, would lead to a “substantial reduction” of competition
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“Funding secured.” Those two words, tweeted by Tesla CEO Elon Musk, sent investors into a frenzy Tuesday. Who has promised Musk tens of billions of dollars to take his cash-burning company private? tweet Twenty-four hours after Musk’s first tweet, Tesla has twice declined comment to CNBC on where the funding is coming from. The company
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Southwest Airlines could be next on Warren Buffett’s shopping list, according to Morgan Stanley. “Investors have flirted with a BRK-LUV combination for some time. Our screen for potential airline acquisitions by BRK suggests LUV would be a good strategic fit,” Morgan Stanley analysts Kai Pan and Rajeev Lalwani said in a joint note entitled “Should
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Shares of Vitamin Shoppe soared nearly 30 percent on Wednesday, after the company reported better-than-expected earnings for its second quarter. The nutritional supplement company reported adjusted earnings of 31 cents per share versus the 5 cents per share consensus estimate from analysts, according to Thomson Reuters. Vitamin Shoppe’s digital commerce sales increased 37 percent, however
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Computer manufacturer 3D Systems shares skyrocketed Wednesday after the company reported better-than-expected earnings and revenue for the second quarter. Shares soared as much as 36 percent, putting the stock on track for its best day since Feb. 17, 2011. The company reported earnings after the bell Tuesday of 6 cents per share, crushing Thomson Reuters
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The New York Times reported a better-than-expected quarterly profit but the company added fewer paid digital subscribers, sending its shares down about 5 percent in premarket trading. The company added 109,000 paid digital subscribers in the second quarter, compared with 114,000 a year earlier, when it offered heavy discounts for annual subscriptions. Digital advertising revenue,
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