Author: FC

After-hours buzz: MET, REV & more

Check out the companies making headlines after the bell Monday: Metlife stock plunged more than 7 percent after the bell. The insurance provider previewed earnings that fell well short of Wall Street expectations and rescheduled the release of its quarterly and full-year financial results from Jan. 31 to Feb. 13. Metlife also anticipates an impact of between $135 million and $165 million on its ne...

Japanese chipmaker Renesas is in talks to acquire Maxim, in a deal that could approach $20 billion

Japanese semiconductor company Renesas Electronics is in talks to acquire U.S. chipmaker Maxim Integrated in what could be close to a $20 billion acquisition. A deal isn’t imminent and one may not happen, the people said, who asked not to be named because the discussions are private. Renesas has a market capitalization of about $20 billion, while Maxim is valued at more than $16 billion. A t...

Japanese chipmaker Renesas is in talks to acquire Maxim; Renesas denies the talks

Japanese semiconductor company Renesas Electronics is in talks to acquire U.S. chipmaker Maxim Integrated, according to several sources close to the matter, in what could be close to a $20 billion acquisition. A deal isn’t imminent and one may not happen, said those people, who asked not to be named because the discussions are private. Renesas has a market capitalization of about $20 billion...

Coincheck Didn’t Bother With ‘Basic Security Protocols’ Because The Worst That Could Happen Is A $400 Million Theft

It was exactly the kind of scene that Japan’s FSA had been hoping to avoid when it became one of the few regulators globally to introduce a licensing system for cryptocurrency exchanges last April. That’s from a new Bloomberg piece documenting the fallout from last week’s rather unfortunate episode that found one of Japan’s largest cryptocurrency exchanges admitting it had “lost” some $400 million...

Equifax free credit-protection offer ends Jan. 31

Time is running out for consumers to take advantage of several credit-protection measures at Equifax. Until Jan. 31, all U.S. consumers can freeze their credit report at Equifax for free and sign up for one year of free credit monitoring. The offers came last fall after the credit-reporting company revealed that up to 145 million consumers’ private data had been compromised in a massive data...

Exxon Mobil to invest $50 billion in US over 5 years, citing tax cuts

Exxon Mobil, the world’s largest publicly traded oil company, on Monday said it plans to invest $50 billion in the United States over the next five years. Darren Woods, chairman and CEO of Exxon, said in a blog post that the investment is partly due to recently passed corporate tax cuts. The announcement puts Exxon on the board with a number of other companies that have announced employee bo...

Exxon Mobil announces $35 billion in new US investments over 5 years, citing tax reform

Exxon Mobil, the world’s largest publicly traded oil company, on Monday said it plans to invest an additional $35 billion in the United States over the next five years. Darren Woods, chairman and CEO of Exxon, said in a blog post that the investment is partly due to recently passed corporate tax cuts. The announcement puts Exxon on the board with a number of other companies that have announc...

UBS, Deutsche Bank and HSBC to pay millions in spoofing settlement, CFTC says

Until now, an illegal trading technique called “spoofing” has been associated with two-bit commodities outfits and lone wolf traders operating in the shadows of the markets. But prosecutors revealed on Monday that their investigations have hit the big time. Deutsche Bank, UBS and HSBC will collectively pay nearly $47 million to settle civil regulatory charges some of their traders enga...

Markets are waging a tug-of-war between record earnings and rate hike worries

We are more than a quarter through earnings season, with another 120 companies reporting this week. On the surface, the news could not be better: Earnings are growing faster than anyone anticipated even a few months ago, even heading into the first quarter of 2018. But we may finally be seeing a visible catalyst for a pullback. As the 10-year Treasury yield has passed 2.7 percent, traders have bee...

Rising interest rates knock stocks, but this isn’t the big move that will kill the rally — yet

Stocks may finally be paying attention to the bond market’s warnings, but strategists do not see the quick jump higher in interest rates as the move that will kill the equity market’s record-setting rally. While the S&P 500 was celebrating tax cuts and surging more than 7 percent in January, the bond market was selling off. Yields, which move opposite price, rose on expectations go...

Gabelli says merger activity makes him optimistic about the market over the next six to nine months

Mario Gabelli says the animal spirits in the markets, awakened by tax reform and strong corporate profits, are creating a new wave of merger activity and opportunities for investors. The CEO of Gabelli Asset Management said Monday on CNBC’s “Halftime Report” that there will be a surge of merger activity as companies look to put their excess cash to work. Already on Monday, CNBC h...

Avon shareholders urge cosmetic maker to sell itself

Shareholders of Avon Products on Monday called on the cosmetics maker to explore strategic options, including a sale. The shareholders, which include lead investors Shah Capital, Barington Capital Group and NuOrion Partners, together hold a 3.5 percent stake in the company. The group said they were “extremely disappointed” with the board’s inability to address falling shareholder...