Latest News on private equity markets

U.S. prisons lose Wall Street sell-side coverage

Sell-side analysts have stopped covering U.S. private prison operators as Wall Street has distanced itself from publicly traded GEO Group Inc and CoreCivic Inc .



8 months ago

Qualcomm shares fall 6% on dour current-quarter forecast

Qualcomm Inc missed quarterly revenue estimates and forecast current-quarter revenue and profit below analysts' expectations on Wednesday, sending its shares down nearly 6% in extended trading.



8 months ago

Whiting Petroleum posts surprise quarterly loss, cuts 33% workforce

Whiting Petroleum said on Wednesday it has cut its workforce by 33% after reporting a second-quarter surprise loss, hit by a drop in crude and natural gas prices.



8 months ago

Fed cuts rates, signals it may not need to do more

The Federal Reserve cut interest rates on Wednesday to shore up the economy against risks including global weakness, but the head of the U.S. central bank said he did not view the move as the start of a lengthy series of rate cuts.



8 months ago

Dollar rises after Fed cuts rates, signals move is one-off

The U.S. dollar rose to two-year highs on Wednesday after Federal Reserve Chair Jerome Powell, having made the first cut to interest rates since 2008, signaled the move was not the start of a rate-cutting cycle.



8 months ago

S&P 500 posts biggest drop since May after Fed cut, Powell comments

The Dow and S&P 500 suffered their biggest daily percentage drops since May 31 on Wednesday after the Federal Reserve cut interest rates for the first time in a decade, but remarks by Fed Chair Jerome Powell dampened expectations for further cuts going forward.



8 months ago

Fitbit lowers 2019 revenue forecast, shares sink 16%

Wearable device maker Fitbit Inc forecast third-quarter revenue below analysts' estimates and lowered its 2019 sales outlook as the company expects weak smartwatch sales and lower average selling price.



8 months ago

PG&E says it 'strongly disagrees' delayed maintenance played role in Camp Fire

PG&E Corp said in court papers on Wednesday that it "strongly disagrees" with a suggestion in a Wall Street Journal article that the company knowingly deferred maintenance on equipment that caused California's Camp Fire, the deadliest and most destructive wildfire in California's modern history.



8 months ago

Text of the FOMC statement

Following is the full text of the statement released by the Federal Reserve's Federal Open Market Committee on Wednesday following a two-day meeting:



8 months ago

Qualcomm's outlook weighed down by Huawei's smartphone gains in China

Qualcomm Inc's quarterly revenue and profit forecast fell short of Wall Street targets, driven by Huawei Technologies Co Ltd's strong gains in the Chinese smartphone market, the U.S. company said, sending its shares down as much as 6%.



8 months ago

JPMorgan, Citi lower benchmark interest rates following Fed rate cut

Two of the biggest U.S. banks, JPMorgan Chase & Co and Citigroup Inc , on Wednesday lowered their benchmark rates for a wide range of consumer and commercial loans, following a rate cut from the Federal Reserve.



8 months ago

A look back at the Fed's past rate-cutting cycles

U.S. interest rates have never been as low as they are now at the start of any past Federal Reserve interest rate reduction cycle.



8 months ago

SmileDirectClub aims for $1 billion IPO in September: Sources

The company is on track to generate $1 billion in revenue in 2019, one of the people said.

8 months ago

Fitbit cuts 2019 revenue view, Versa Lite sales lag; shares tank

Wearable device maker Fitbit Inc cut its 2019 revenue forecast on Wednesday, blaming disappointing sales of its newly launched cheapest smartwatch Versa Lite, sending its shares tumbling as much as 16% to a record low.



8 months ago

Dollar jumps, stocks fall after Fed rate outlook; pound stalls

The dollar index hit a more than 2-year high and stocks tumbled after Federal Reserve Chairman Jerome Powell said Wednesday's 25-basis-point rate cut was not the same as the beginning of a lengthy easing cycle.



8 months ago