AbbVie Inc on Friday forecast full-year earnings well above Wall Street estimates, as the U.S. drugmaker looks to new treatments and its pending acquisition of Allergan Plc to drive growth beyond 2023, when its cash cow Humira loses patent protection.
Global equity markets and government debt yields slumped on Friday as growing concerns about the impact of the coronavirus on global growth overshadowed a strong U.S. jobs report that indicated an economy on pace to grow moderately.
Wall Street pulled back from record levels on Friday after a four-day rally, as investors digested a report that showed strength in U.S. labor market, while keeping a close eye on developments surrounding the coronavirus epidemic.
Ford Motor Co on Friday shook up its top management, naming strategy chief Jim Farley as chief operating officer and promising skeptical investors the company will kick a slow-moving turnaround into a higher gear.
A raft of earnings reports from consumer discretionary companies and U.S. retail sales data set for the coming week could help investors determine to what extent the coronavirus is hitting consumer demand.
Wall Street pulled back from record levels on Friday after a four-day rally, as investors digested a report that showed strength in the U.S. labor market, while keeping a close eye on developments surrounding the coronavirus epidemic.
A "moderately" expanding U.S. economy was slowed last year by a manufacturing slump and weak global growth, but key risks have receded and the likelihood of recession has declined, the U.S. Federal Reserve said in its latest monetary policy report to the U.S. Congress.
U.S. Vice President Mike Pence on Friday declined to endorse an unusual suggestion from U.S. Attorney General William Barr that the United States consider taking control of two major foreign rivals of China-based Huawei Technologies Co Ltd.
U.S. job growth accelerated in January, with unseasonably mild temperatures boosting hiring in weather-sensitive sectors, indicating the economy will probably continue to grow moderately despite a deepening slump in business investment.
Investors are bracing for more job cuts and writedowns at Canadian cannabis producers before the industry stabilizes and becomes profitable, after two of the biggest weed companies, Aurora Cannabis and Tilray announced cost reductions this week.
Bank of America Corp said on Friday that Chief Executive Officer Brian Moynihan's 2019 compensation remained $26.5 million, the same as a year earlier.
As the chairman of Credit Suisse prepared for a crunch meeting of directors over the future of its chief executive, the vocal backing of a U.S. investor for Tidjane Thiam had unintended consequences, helping seal the ousted CEO's fate.
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Global equity markets and government debt yields slumped on Friday as growing concerns about the impact of the coronavirus on global growth overshadowed a strong U.S. jobs report that indicated an economy on pace to grow moderately.
Wall Street pulled back from record levels on Friday after a four-day rally as investors digested a report showing U.S. job growth accelerated last month and braced for the next developments involving the coronavirus spread out of China.