U.S. Steel’s Earnings Forecast Disappoints as Prices Fall From Last Year

U.S. Steel’s Earnings Forecast Disappoints as Prices Fall From Last Year

(Bloomberg) — U.S. Steel Corp. shares slumped after its earnings outlook fell short of analyst expectations, amid softer early-year demand and prices that have slipped from last year’s highs. Most Read from Bloomberg The Pittsburgh-based company forecast adjusted earnings of $2.96 to $3 per share, below the Bloomberg consensus analyst estimate of $3.77. Average prices … Read more

Global Exodus From Chinese Markets Prompts Xi to Change Tack

Global Exodus From Chinese Markets Prompts Xi to Change Tack

(Bloomberg) — It took one of the biggest stock-market routs in Chinese history, but President Xi Jinping may finally be heeding the concerns of international investors. Most Read from Bloomberg A sweeping set of promises this week from Xi’s government to make regulation more transparent and predictable — as well as a commitment to overseas … Read more

Koch Industries Continues Operations at Russian Factories

Koch Industries Continues Operations at Russian Factories

MarketWatch Koch Industries breaks silence on Russia to say it will continue to operate its 2 glass facilities Koch Industries, the Wichita, Kan., company run by right-wing billionaire Charles Koch, released a statement on its Russia operations on Wednesday, in which it said it would continue to operate its glass manufacturing facilities. The company, which … Read more

Stock futures give back some gains after indexes jump

Stock futures give back some gains after indexes jump

Stock futures opened lower Thursday evening to give back some gains from the regular trading day, as traders remained upbeat about the Federal Reserve’s measured first move on raising interest rates. Contracts on the S&P 500 edged lower. The index posted a third consecutive day of gains during Thursday’s session in its longest winning streak … Read more

JPMorgan’s Kolanovic Says Market Bubble Corrections Almost Over

JPMorgan’s Kolanovic Says Market Bubble Corrections Almost Over

(Bloomberg) — The rout in tech, biotechnology and emerging-markets stocks may be nearly over, and it’s time for investors to start adding to beaten-down, high-beta positions, according to JPMorgan Chase & Co. strategist Marko Kolanovic. Most Read from Bloomberg “While the commodity supercycle will persist,” the strategist said, “the correction in bubble sectors is now … Read more

Brazil’s Stone Jumps as Damage Control Offsets Profit Miss

Brazil’s Stone Jumps as Damage Control Offsets Profit Miss

(Bloomberg) — StoneCo Ltd., the Brazilian payment-technology firm backed by Warren Buffett’s Berkshire Hathaway Inc., named new senior managers and issued guidance for the current quarter as it works to offset another earnings miss. The shares jumped after the announcements. Most Read from Bloomberg Fourth-quarter adjusted net income was 34 million reais ($6.8 million), the … Read more

Macron says France must take control of some energy firms

Macron says France must take control of some energy firms

Macron – Aurelien Meunier/Getty Images 06:14 PM Wrapping up That’s all from us today, thank you very much for following! Our live blog on the P&O Ferries scandal is still open, you can check it out here. More from the desk: 06:10 PM Anglo-American cuts jobs at North Yorkshire fertiliser mine Anglo-American is cutting almost … Read more

Binance CEO Says Firm Is Looking Into Buying Banks and Payment Processors in Brazil

Binance CEO Says Firm Is Looking Into Buying Banks and Payment Processors in Brazil

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil’s leading financial news publications. Follow CoinDesk Brasil on Twitter. Binance, the world’s largest cryptocurrency exchange by trading volume, is looking into acquiring banks and payment processors in Brazil, Binance CEO Changpeng Zhao said Wednesday. Speaking at EthereumRio, an Ethereum … Read more

Investors have been scared out of this group of stocks, says fund manager, who offers five ideas for the rebound to come.

Investors have been scared out of this group of stocks, says fund manager, who offers five ideas for the rebound to come.

China has been talking up its markets, and that’s lifting all boats this morning, with Wall Street off to a strong start ahead of what’s expected to be the first Fed rate hike in more than three years. Also helping are some positive rumblings around Ukraine-Russia negotiations as a brutal war continues. Apart from the … Read more