** Shares of gun makers rebounding for a second day on Fri, evenafter Smith & Wesson-owner American Outdoor Brands gives weak qtrly outlook** AOBC up 1.9 pct, and rival Sturm Ruger & Company jumping 5 pct** Blackrock Inc said it has started asking gunmakers tough questions about use of their firearms in massshootings; Index fund operator BLK is largest shareholder inAOBC and RGR ** Blackro...Read More
* Trump's tariffs announcement poses headache for Fed* Markets still betting on U.S. interest rate hike in MarchBy Howard Schneider and Ann SaphirWASHINGTON, March 2 (Reuters) - The Federal Reserve digestedthe Trump administration's massive tax cuts and plan to boostspending with barely a hiccup, but Washington's sudden push forsteep tariffs on steel and aluminum imports could saddle theU.S. centr...Read More
FRANKFURT, March 2 (Reuters) - Swiss investor Martin Ebneris in talks to buy Swiss-German United Grinding, as otherbidders have dropped out of the race for the machine tool maker,two people close to the matter said. China Jianyin Investment (JIC), which had been keen to buyBern-based UGG, is no longer in the running, one of them said.Switzerland's Oerlikon has also dropped out of theauction for th...Read More
(Repeats without change)By Davide ScigliuzzoNEW YORK, March 2 (IFR) - Banks that helped the firearmsindustry to raise billions of dollars have been hesitant to stepinto the public debate on gun violence following the latestschool shooting in Florida.Their silence stands in contrast to the US names - including retailers, airlines and car rental companies - thathave either sought to distance themsel...Read More
FRANKFURT, March 2 (Reuters) - The European Central Bank hasstopped supervising the Austrian arm of Russian state bank VTBafter it slimmed down its European operations, the ECB said onFriday.A spokeswoman for the ECB said VTB's new set-up in Europe nolonger warranted direct supervision, which was now in the handsof Germany's national regulators, Bafin and the Bundesbank.Public scrutiny of ties bet...Read More
March 2 (Reuters) - * Foot Locker Increported quarterly adjusted earnings of $1.26 per share.The mean expectation of 20 analysts for the quarter endedJanuary 31 was for earnings of $1.25 per share.* Revenue rose 4.6 percent to $2.21 billion from a year ago;analysts expected $2.22 billion.* Foot Locker Inc's Reported EPS for the quarter was a lossof 40 cents.* The mean earnings estimate of analysts...Read More
After snapping their best monthly win streak in years, stocks continued to struggle as the calendar turned to March. Focus early in the week centered on the congressional testimony of new Fed Chair Jerome Powell. Powell's suggestion that more than three rate hikes are possible in 2018 rattled markets and sparked another rise in bond yields. But it was President Donald Trump's announcement of steep...Read More
(Adds details from speech, reaction)By Lisa LambertMarch 2 (Reuters) - Deputy U.S. Attorney General RodRosenstein on Friday laid out the Trump administration'sapproach to fighting financial crime, saying the government willfocus more heavily on certain tax violations and that it iscracking down on securities fraud."We are using data analytics to more quickly identify,investigate and prosecute...Read More
* Trump tweets: "Trade wars are good, and easy to win"* J.C. Penny slumps after disappointing quarter* Wall Street in the red after two weeks of gains* Dow off 0.6 pct, S&P flat pct, Nasdaq up 0.35 pct(Updates to early afternoon)By Ankur Banerjee and Sruthi ShankarMarch 2 (Reuters) - U.S. stock indexes recouped some losseson Friday, but were on track to end the week in the red asinve...Read More
Shares of Lululemon Athletica inc. (NASDAQ:LULU) bottomed at an annual low of $47.26 back in May, but have been soaring on the charts ever since -- up almost 73%. What's more, LULU stock topped out at a record high of $83.59 on Tuesday, and were last seen trading not far from here at $81.17. And with earnings not due until late March, it could be a prime time for options traders to bet on a short-...Read More
** Home security company's shares drop as much a23 pct to record $5.13** Stock among top pct losers on Nasdaq** Company posts Q4 revenue $133.5 mln, down 5 pct, due to afall in number of subscribers ** Brokerage Stifel says is cautious on company and also onthe industry, as trends in quarter including declining revenueand shrinkage in subscribers account base are likely tocontinue; Cuts PT to $13...Read More
One month after the February stock market rout is an excellent time to step back and review all the facts - and their implications for the gold market. Here's exactly what happened - and what it implies for your capital allocation.After more than a year of continuously advancing, the S&P 500 fell nearly 10 percent in five days.The sell-off was allegedly triggered by the surprisingly strong January...Read More
The US dollar has fallen rather sharply over the past year or so, despite ongoing Fed rate hikes. This persistent dollar weakness has really boosted gold. There's a fascinating interplay between these two currencies and futures speculators' expectations for Fed rate hikes. These traders hang on every word from top Fed officials, which greatly influences their trading. So these relationship...Read More
(The author is a Reuters Breakingviews columnist.The opinionsexpressed are her own.)By Jennifer SabaNEW YORK, March 2 (Reuters Breakingviews) - Spotify's tippyvaluation requires a hefty increase in its top line. Thestreaming-music firm may be worth $23 billion when it goespublic - based on the highest price at which its privately heldstock traded in the last couple of months. To justify thatmarket...Read More
The US dollar has fallen rather sharply over the past year or so, despite ongoing Fed rate hikes. This persistent dollar weakness has really boosted gold. There's a fascinating interplay between these two currencies and futures speculators' expectations for Fed rate hikes. These traders hang on every word from top Fed officials, which greatly influences their trading. So these relationship...Read More
March 2 (Reuters) - Deputy U.S. Attorney General RodRosenstein on Friday laid out the Trump administration'sapproach to fighting financial crime, saying the government willfocus more heavily on certain tax violations and that it iscracking down on securities fraud."We are using data analytics to more quickly identify,investigate and prosecute manipulation of the securitiesmarkets, and other f...Read More
(Kitco News)- U.S. President Donald Trump once again has shown hisaffinity for gold, coming to the market’s rescue Thursday as prices fell to atwo-month low.The gold market is heading into the weekend, benefiting from renewedmarket volatility and geopolitical uncertainty as investors digest theimplication of a possible global trade war after Trump announced that hisadministration would place...Read More
(Kitco News) - U.S. President Donald Trump once again has shown his affinity for gold, coming to the market’s rescue Thursday as prices fell to a two-month low.The gold market is heading into the weekend, benefiting from renewed market volatility and geopolitical uncertainty as investors digest the implication of a possible global trade war after Trump announced that his administration would...Read More
By Aparajita SaxenaMarch 2 (Reuters) - Wall Street analysts wasted no time inraising forecasts for exchange operators CME Group Inc and Nasdaq Inc after last month's historic stock marketvolatility, but industry watchers warned the companies maysuffer if the selloff becomes deeper and more prolonged.The stock, currency and commodity trading platform providerswho make more money the more times inve...Read More
* STOXX 600 hits 6-mth low, ends down 2.1 pct* Steelmakers down slightly after Trump tariff planMarch 2 (Reuters) - Welcome to the home for real-time coverage of European equity marketsbrought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him onMessenger to share your thoughts on market moves: danilo.masoni.thomsonreuters.com@reuters.net CLOSING SNAPSHOT: FROSTY WEA...Read More