Author: Dow Jones
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Gold’s luster spreads to other precious metals
Gold has recovered some of its former shine lately. Silver and platinum have been dull by comparison, but if history is any guide they are likely to regain their luster too. The price of silver, as measured by futures contracts traded on the New York Mercantile Exchange, has surged by 8.3% over the past two…
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Home sales stumble as pricey West Coast markets see declines
U.S. home sales slumped in June, ending the prime spring selling season with a thud and dimming hopes that lower mortgage rates can revive a slumbering housing market. The stubborn malaise reflects in part a correction in the formerly red-hot housing markets on the West Coast. Home prices for major West Coast cities are now…
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Netflix rivals unscathed despite video giant’s slump
Netflix’s decline aftere a big miss in subscriber growth isn’t spilling over into shares of rival streaming services, a sign that investors are still optimistic on the sector as more competitors prepare to enter the steaming wars. Netflix posted weaker-than-expected second-quarter subscriber figures late Wednesday, sending shares 11% lower Thursday and putting the stock on…
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IHeartMedia returns to public markets
The nation’s largest radio broadcaster returned to the public markets Thursday, capping iHeartMedia’s long journey through bankruptcy. Shares, listed under the ticker “IHRT” on the Nasdaq, opened at $16.45 and were down 1.8% in morning trading. A bankruptcy judge in January approved a restructuring plan wiping more than $10 billion in debt off iHeart’s books…
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Amazon’s Deal Making Threatened by D.C. Scrutiny
Amazon.com has been on a buying spree in recent years, but the U.S. government’s increased scrutiny of large tech companies threatens to slow that pace. The company has struck more than $20 billion worth of acquisitions and investments since the start of 2017, more than its deal volume in all of the previous 23 years…
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Companies dodge U.S. tariffs on China by rerouting goods
Billions of dollars worth of China-made goods subject to tariffs by the Trump administration in its trade fight with Beijing are dodging the China levies by entering the U.S. via other countries in Asia, especially Vietnam, according to trade data and overseas officials. The Trump administration has for more than a year sought to weed…
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Trump kicks off 2020 campaign at Orlando rally
ORLANDO, Fla. • President Donald Trump signaled that his reelection bid would echo themes from his 2016 race, criticizing former rivals and the Washington establishment as he launched his campaign with a wave of polls showing him facing a challenging path to a second term. “As long as you keep this team in place,” Trump…
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Boeing ends order drought triggered by 737 MAX crisis
LE BOURGET, France • Boeing won a landmark 737 MAX order from British Airways parent IAG on Tuesday, ending a sales drought in the wake of the grounding of the aircraft following two fatal crashes. International Consolidated Airlines Group SA, as IAG is formally known, said it had signed a letter of intent for up…
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Pfizer to buy cancer drug maker Array for $10.64B
Pfizer agreed to buy Boulder-based Array BioPharma for $10.64 billion in cash, as one of the world’s biggest pharmaceutical companies seeks to expand its cancer lineup with targeted therapies. Monday’s deal for Array, which garnered a 62% premium to its closing price Friday, suggests just how important the market for cancer drugs is for the…
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Urban Outfitters to start renting clothes
Urban Outfitters is jumping into clothing rental, trying to tap one of the fastest-growing areas of fashion without discouraging people from shopping at its stores. The company, which owns the namesake chain along with Free People and Anthropologie stores, is launching an $88 monthly service in the summer that allows shoppers to borrow six items…