Nike misses North America revenue estimates, shares drop

Nike misses North America revenue estimates, shares drop

(Reuters) – Nike Inc missed North American quarterly revenue estimates on Thursday amid higher spending on new products and online initiatives, sending its shares down 3 percent in extended trading. Continue Reading Below Quarterly revenue in North America rose 7 percent to $3.81 billion, but missed estimates of $3.87 billion. MORE FROM FOXBUSINESS.COM… Total revenue also increased 7 percent to $9.61 billion, in line with analysts’ average estimate, according to IBES data from Refinitiv. This…

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Lyft to launch road show for up to $2B IPO: Sources

Lyft to launch road show for up to $2B IPO: Sources

(Reuters) – Ride-hailing platform Lyft Inc will launch the investor road show for its initial public offering on Monday, seeking to raise as much as $2 billion and to be valued at more than $20 billion, according to people familiar with the matter. Continue Reading Below Lyft will be seeking to convince investors to make large commitments to its IPO, rather than hold out for its larger rival Uber Technologies Inc., which is planning to…

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General Electric sees 2019 profit below estimates

General Electric sees 2019 profit below estimates

General Electric Co forecast adjusted earnings of 50 cents to 60 cents per share in its 2019 outlook on Thursday, below analysts’ expectations of around 70 cents as new Chief Executive Larry Culp plows ahead with asset sales and restructuring. Continue Reading Below Shares of the company, hammered by tens of billions in write-offs over the past year and one of Wall Street’s worst performing stocks, were down 3.2 percent at $9.70 in premarket trading….

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Honda to recall about 1M vehicles in the US with Takata airbags

Honda to recall about 1M vehicles in the US with Takata airbags

Honda Motor Co said on Tuesday its American unit will recall about 1.1 million Acura and Honda vehicles in the United States to fix a defect in Takata airbags in driver’s seat. Continue Reading Below The company said it is aware of one injury linked to a defect in the airbag that may cause the airbag to rupture when deployed in a crash. CLICK HERE TO GET THE FOX BUSINESS APP Free recall repairs would…

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New home sales rise to seven-month high in December

New home sales rise to seven-month high in December

Sales of new U.S. single-family homes rose to a seven-month high in December, but November’s outsized jump was revised lower, pointing to continued weakness in the housing market. Continue Reading Below The Commerce Department said on Tuesday new home sales increased 3.7 percent to a seasonally adjusted annual rate of 621,000 units, the highest level since May 2018. November’s sales pace was revised down to 599,000 units from the previously reported 657,000 units. MORE FROM…

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Oil prices rise on trade deal hopes, OPEC supply cuts

Oil prices rise on trade deal hopes, OPEC supply cuts

Oil prices rose on Monday, buoyed by OPEC output cuts and reports that the United States and China are inching closer to a deal on a tariff row that has slowed global economic growth. Continue Reading Below International Brent futures were up 80 cents at $65.87 a barrel by 1037 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 55 cents at $56.35 per barrel. The United States and China appear close to a…

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Wall Street week ahead: US stock reign may not last over other regions

Wall Street week ahead: US stock reign may not last over other regions

NEW YORK (Reuters) – U.S. stock prices are outpacing those in most other regions to start 2019, but the gap is narrow and some investors are eyeing potential catalysts to tip the scales to the rest of the world. Continue Reading Below Investors say several factors could sway performance in favor of other developed or emerging markets, including slowing U.S. profit growth, a weaker U.S. dollar, improving economies in China and Europe and resolution of…

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Kia, Hyundai expand US engine fire recall by 534,000 vehicles

Kia, Hyundai expand US engine fire recall by 534,000 vehicles

Kia Motors Corp and affiliate Hyundai Motor Co said on Thursday they are recalling around 534,000 additional U.S. vehicles at risk of engine fires. Continue Reading Below Kia said it is recalling 378,000 2012-2016 Kia Soul vehicles over engine damage and fire risks, while Hyundai and Kia are recalling 155,000 2011-2013 Tucson vehicles and 2011-2012 Sportage vehicles over possible oil pan leaks in a separate callback. Last month, the companies said they would recall 168,000 vehicles for fire risks. The South…

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Oil edges up to $65 as OPEC seen rebuffing Trump pressure

Oil edges up to $65 as OPEC seen rebuffing Trump pressure

Brent oil edged up to $65 a barrel on Tuesday as Saudi Arabia and the rest of OPEC were expected to stick to their production cuts, despite renewed pressure from U.S. President Donald Trump. Continue Reading Below Prices slid on Monday, when many traders were out of the office attending IP Week, a series of industry events in London, after Trump called on OPEC to ease its efforts to boost the oil market. Prices were “getting too high,” the…

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Lyft IPO coming in March, beating Uber

Lyft IPO coming in March, beating Uber

Lyft Inc plans to launch the roadshow for its initial public offering during the week of March 18, making it the first U.S. ride-hailing company to debut in the stock market, people familiar with the matter said on Wednesday to Reuters exclusively. Continue Reading Below Lyft’s larger rival Uber Technologies Inc still needs several more weeks for its IPO preparations, the sources said, putting it behind Lyft. The two IPOs’ being far apart could allow…

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