Market News

  1. MGM Resorts International has struck a deal with hedge fund Corvex Management's founder, Keith Meister, to give him a board seat, one week after a rival activist investor was seen building a position in the casino operator.
  2. A federal grand jury in Detroit on Thursday indicted four managers at Volkswagen AG's luxury Audi unit as part of the U.S. government's investigation into the German automaker's diesel emissions cheating scandal, according to court documents.
  3. An array of crises will keep several world leaders away from the annual World Economic Forum in Davos next week, which takes place against a backdrop of deepening gloom over the global economic and political outlook.
  4. Fossil Group Inc said on Thursday it would sell its intellectual property related to a smartwatch technology currently under development to Alphabet Inc's Google for $40 million, sending the watchmaker's shares up as much as 11 percent.
  5. Netflix Inc forecast first-quarter revenue slightly below Wall Street estimates on Thursday, even after a record quarter for new customers, sending shares of the world's largest streaming service down 4 percent in after-hours trading.
  6. Asian stocks gained early on Friday, as hopes for a thaw in the U.S.-China trade conflict fed investor appetites for risk assets.
  7. American Express Co missed Wall Street's fourth-quarter profit estimates on Thursday, as the rate of customer spending slowed despite a strong U.S. holiday sales season.
  8. Major consumer companies including Unilever , Procter & Gamble and Nestle are chasing consumers who want food and household goods delivered automatically, even though this kind of business has not always worked.
  9. Morgan Stanley's quarterly profit fell short of expectations as bond trading revenue slumped more than rivals and its wealth management business faltered, sending its shares down 4.4 percent.
  10. Shares of Netflix up 0.2 pct on Thursday in likely calm before the storm as the streaming video company co prepares to report Q4 results after the bell
  11. Trian Fund Management LP will not challenge PPG Industries Inc's board of directors at its 2019 shareholder meeting after the U.S. paints and coatings company met some of the activist hedge fund's demands and announced new financial targets, people familiar with the matter said on Thursday.
  12. Natural gas and oil firm Gulfport Energy Corp said it would buy back $400 million of shares on Thursday, just hours after a public demand to that effect from hedge fund investor Firefly Value Partners.
  13. Hitachi's decision to freeze its $28 billion nuclear power project in Britain strengthens the hand of France's EDF and its Chinese partner in talks with the government on how to finance new reactors.
  14. ** Netflix's shares down 4.5 pct at $337.46 in extended trading - if losses hold on Friday, stock set for its biggest 1-day fall so far this year
  15. U.S. stocks advanced on Thursday as hopes of a resolution to the trade dispute between the United States and China boosted industrial shares and lifted investor sentiment.
  16. Sears Holdings Corp Chairman Eddie Lampert won a bankruptcy auction to buy the once iconic U.S. retailer after presenting an improved offer of $5.2 billion, Sears said on Thursday, but creditors quickly moved to oppose the deal.