A Marathon gas station in Chicago. Getty Images The call for Marathon Petroleum to split into separate businesses is gaining momentum among activist investors. Hedge fund D.E. Shaw is supporting the breakup of Marathon, joining Elliott Management in urging the refiner to split off Speedway gas stations, sources familiar with the matter told CNBC’s David
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US Secretary of State Mike Pompeo (L) reacts as he is shown the way by China’s Foreign Minister Wang Yi (R) before they proceed to their meeting at the Diaoyutai State Guesthouse in Beijing on October 8, 2018. Andy Wong | AFP | Getty Images Chinese State Councilor and Foreign Minister Wang Yi said in
People walk past a Nike store in New York. Carlo Allegri | Reuters Check out the companies making headlines after the bell: Shares of Nike hit an all-time high, surging more than 5.5% during extended trade, following strong first-quarter earnings. CEO Mark Parker credited the earnings beat to product innovation and stronger e-commerce business. The footwear
Xinhua News Agency | Xinhua News Agency | Getty Images The latest proof of a U.S. economic slowdown is in, and this time it came from a computer analysis. Barclays used a machine learning tool to analyze company managements’ commentary on capital expenditures during earnings calls. The result revealed a weaker corporate sentiment, where companies
European markets are set to open higher on Tuesday as traders monitor the latest U.S.-China trade developments. European Markets: FTSE, GDAXI, FCHI, IBEX Britain’s FTSE 100 is seen rising 26 points to 7,353, Germany’s DAX up 31 points at 12,376 and France’s CAC up 14 points at 5,647, according to IG index data. Traders were
People exit the New York Stock Exchange building along Wall Street in New York City. Stephanie Keith | Getty Images Check out the companies making headlines after the bell: VEREIT shares tanked nearly 12% before settling 2.3% under its closing price after the real estate investment company announced it will offer 71 million shares of
Protests in Hong Kong won’t prevent Standard Chartered from pursuing its ambitions to launch a virtual bank in the city, CEO Bill Winters said on Monday. The British multi-national, which has a significant presence in emerging markets, is part of a joint venture that was granted a license to operate a digital bank in the
Chesnot | Getty Images Intercontinental Exchange, the owner of the New York Stock Exchange, launched its bitcoin futures contracts late Sunday, in a move aimed at enticing investors who have hesitated about trading the cryptocurrency. The first trade in the new contracts was executed on ICE’s futures exchange at 8:02 p.m. ET at a price
Despite the Federal Reserve’s latest efforts to boost the economy, long-time market bear David Rosenberg warns a recession is coming. The Gluskin Sheff chief economist and strategist predicts economic growth in the U.S. will turn negative sooner than most investors anticipate — setting the stage for a painful market pullback. “There’s a recession coming in
The New York Federal Reserve will continue overnight repurchase operations through October as it seeks to quell market instability from earlier this week. Short-term rates in the “repo” market spiked overnight Monday amid a shortfall in funding stemming from a variety of factors. The Fed responded with a series of liquidity injections aimed at preventing