Asian stocks take a breather after days of declines

The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively. Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw dec


The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively. Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw dec
Asian stocks take a breather after days of declines Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: eustance huang
Keywords: news, cnbc, companies, breather, day, days, stocks, australia, asian, declines, gained, shares, saw, index, close, rose, trading


Asian stocks take a breather after days of declines

Shares in Asia were mostly higher on Friday on the back of a report suggesting the U.S. Federal Reserve could consider a slower tempo of increasing interest rates than had been previously expected.

The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively.

Meanwhile, the Hang Seng index in Hong Kong traded down by around 0.1 percent as of its final hour of trade.

Japan’s Nikkei 225 rose 0.82 percent to close at 21,678.68 while the Topix index gained 0.61 percent to finish the trading week at 1,620.45.

Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The company had earlier announced that there was no change in its earnings and dividend forecasts after a mobile service outage on Thursday.

Over in South Korea, the Kospi gained 0.34 percent to close at 2,075.76, with shares of chipmaker SK Hynix rising 1.21 percent.

The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw declines amid a broader sell-off across the Asia Pacific region.

Shares of Australia’s so-called Big Four banks saw gains on the day. Australia and New Zealand Banking Group rose 0.16 percent, Commonwealth Bank of Australia gained 1.00 percent while Westpac advanced 0.23 percent and National Australia Bank climbed up by 0.25 percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: eustance huang
Keywords: news, cnbc, companies, breather, day, days, stocks, australia, asian, declines, gained, shares, saw, index, close, rose, trading


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Dow plunges nearly 800 points on rising fears of an economic slowdown

Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. The Dow Jones Industrial Average fell 799.36 points, or 3.1 percent, to close at 25,027.07 and posted its worst day since Oct. 10. Financials were the worst performers in the S&P 500 plunging 4.4 percent. Utilities was the only positive sector in the S&P 500, rising 0.16 percent. The Russell 2000, which tracks small-cap stocks, d


Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. The Dow Jones Industrial Average fell 799.36 points, or 3.1 percent, to close at 25,027.07 and posted its worst day since Oct. 10. Financials were the worst performers in the S&P 500 plunging 4.4 percent. Utilities was the only positive sector in the S&P 500, rising 0.16 percent. The Russell 2000, which tracks small-cap stocks, d
Dow plunges nearly 800 points on rising fears of an economic slowdown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: fred imbert, brendan mcdermid, getty images, loic venance, afp, monica almeida, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, 500, points, day, wall, 800, slowdown, economic, close, rising, worst, sp, stocks, nearly, fell, inversion, fears, dow, yield, plunges


Dow plunges nearly 800 points on rising fears of an economic slowdown

Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. Lingering worries around U.S.-China trade also added to jitters down Wall Street.

The Dow Jones Industrial Average fell 799.36 points, or 3.1 percent, to close at 25,027.07 and posted its worst day since Oct. 10. At its low of the day, the Dow had fallen more than 800 points.

The S&P 500 declined 3.2 percent to close at 2,700.06. The benchmark fell below its 200-day moving average, which triggered more selling from algorithmic funds. Financials were the worst performers in the S&P 500 plunging 4.4 percent. Utilities was the only positive sector in the S&P 500, rising 0.16 percent.

The Nasdaq Composite dropped 3.8 percent to close back in correction territory at 7,158.43. The Russell 2000, which tracks small-cap stocks, dropped 4.4 percent to 1,480.75, marking its worst day since 2011. Trading volume in U.S. stocks was also higher than usual on Wall Street.

The yield on the three-year Treasury note surpassed its five-year counterpart on Monday. When a so-called yield curve inversion happens — short-term yields trading above longer-term rates — a recession could follow, though it is often years away after the signal triggers. Still, many traders believe the inversion won’t be official until the 2-year yield rises above the 10 year yield, which has not happened yet.

Stocks began falling to their lows of the day after Jeffrey Gundlach, CEO of Doubleline Capital, told Reuters this inversion signals that the economy “is poised to weaken.”


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: fred imbert, brendan mcdermid, getty images, loic venance, afp, monica almeida, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, 500, points, day, wall, 800, slowdown, economic, close, rising, worst, sp, stocks, nearly, fell, inversion, fears, dow, yield, plunges


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Iranian President Hassan Rouhani threatens to close Strait of Hormuz

Iranian President Hassan Rouhani threatened on Tuesday to close the strait of Hormuz, the world’s busiest sea lane for oil shipments, if the United States moves to block the Islamic Republic’s oil exports. In an interview with Iranian State TV President Hassan Rouhani was quoted as saying: “if someday, the United States decides to block Iran’s oil [exports], no oil will be exported from the Persian Gulf.” The Strait of Hormuz is a key waterway for the transport of oil. In July, Rouhani made simi


Iranian President Hassan Rouhani threatened on Tuesday to close the strait of Hormuz, the world’s busiest sea lane for oil shipments, if the United States moves to block the Islamic Republic’s oil exports. In an interview with Iranian State TV President Hassan Rouhani was quoted as saying: “if someday, the United States decides to block Iran’s oil [exports], no oil will be exported from the Persian Gulf.” The Strait of Hormuz is a key waterway for the transport of oil. In July, Rouhani made simi
Iranian President Hassan Rouhani threatens to close Strait of Hormuz Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: leila gharagozlou, tom dichristopher, iranian presidency, handout, anadolu agency, getty images
Keywords: news, cnbc, companies, hassan, rouhani, threatens, sanctions, irans, iranian, close, waterway, strait, president, iran, oil, nuclear, hormuz


Iranian President Hassan Rouhani threatens to close Strait of Hormuz

Iranian President Hassan Rouhani threatened on Tuesday to close the strait of Hormuz, the world’s busiest sea lane for oil shipments, if the United States moves to block the Islamic Republic’s oil exports.

In an interview with Iranian State TV President Hassan Rouhani was quoted as saying: “if someday, the United States decides to block Iran’s oil [exports], no oil will be exported from the Persian Gulf.”

The Trump administration restored sanctions on Iran’s energy industry on Nov. 5. The administration is trying to choke off Iran’s economy in order to pressure Tehran to accept tighter restrictions on its nuclear program, cease ballistic missile tests and end its support for U.S.-designated terror groups.

The sanctions have already cut Iran’s exports by about 1 million barrels per day, but Rouhani is vowing to continue shipping crude.

The Strait of Hormuz is a key waterway for the transport of oil. In 2016, 18.5 billion barrels of crude passed through the waterway, or about one-third of all seaborne-traded crude oil, according to the U.S. Energy Information Administration.

This is not Rouhani’s first threat of taking such action. In July, Rouhani made similar comments that raised concerns about a confrontation in the Strait of Hormuz.

The Iranian president is facing pressure from hardliners to take a more aggressive stance towards the West since Trump withdrew from a 2015 nuclear accord, Rouhani’s top foreign policy achievement.

Iran has not made a serious attempt to close the strait since the 1980s. Iran threatened to shut down the Strait of Hormuz in 2011 and 2012, as President Barack Obama marshaled support for international sanctions on Iran over its alleged research into nuclear weapons development.

Military planners generally acknowledged that Iran has the capability to temporarily close off the waterway, but say the U.S. would be able to quickly reopen the strait.

John Kilduff, founding partner at energy hedge fund Again Capital, says that the commentary now is “just bluster” and one that oil analysts have heard many times before. However, he said oil prices would spike were the strait to be shut.

Kilduff points out that the closing of the strait wouldn’t just harm global oil industry but, would hurt Iran itself,” it’s not in their best interest to do it, even though they are getting hammered now with sanctions, it could do long term harm to Iran.”


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: leila gharagozlou, tom dichristopher, iranian presidency, handout, anadolu agency, getty images
Keywords: news, cnbc, companies, hassan, rouhani, threatens, sanctions, irans, iranian, close, waterway, strait, president, iran, oil, nuclear, hormuz


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Market close to hitting ‘all-clear’ signal that could mean upside ahead: Wall Street bull Tony Dwyer

The market is close to hitting an “all-clear” signal that could mean there is more upside ahead, one of Wall Street’s biggest bulls told CNBC on Friday. Tony Dwyer, chief market strategist at Canaccord Genuity, is looking at the S&P 500’s 10-week rate-of-change indicator, which measures the percent change in the index. When it drops to minus 9 and then recovers to minus 5, “that’s your all-clear signal throughout the current cycle that the correction is over.” We’re not too far from that now, at


The market is close to hitting an “all-clear” signal that could mean there is more upside ahead, one of Wall Street’s biggest bulls told CNBC on Friday. Tony Dwyer, chief market strategist at Canaccord Genuity, is looking at the S&P 500’s 10-week rate-of-change indicator, which measures the percent change in the index. When it drops to minus 9 and then recovers to minus 5, “that’s your all-clear signal throughout the current cycle that the correction is over.” We’re not too far from that now, at
Market close to hitting ‘all-clear’ signal that could mean upside ahead: Wall Street bull Tony Dwyer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: michelle fox, brendan mcdermid
Keywords: news, cnbc, companies, yield, tony, close, stay, minus, mean, street, sp, ripe, market, month, dow, curve, hitting, wall, upside, dwyer, signal


Market close to hitting 'all-clear' signal that could mean upside ahead: Wall Street bull Tony Dwyer

The market is close to hitting an “all-clear” signal that could mean there is more upside ahead, one of Wall Street’s biggest bulls told CNBC on Friday.

Tony Dwyer, chief market strategist at Canaccord Genuity, is looking at the S&P 500’s 10-week rate-of-change indicator, which measures the percent change in the index.

When it drops to minus 9 and then recovers to minus 5, “that’s your all-clear signal throughout the current cycle that the correction is over.” We’re not too far from that now, at around minus 6, he said on “Fast Money Halftime Report.”

Friday was the last trading day of November. The Dow Jones Industrial Average and S&P 500 ended a volatile month higher by 1.8 percent and 1.7, respectively, while the Nasdaq eked out a 0.3 percent gain.

The action followed a rough October that saw the Dow end down 5.1 percent for the month, its biggest one-month fall since January 2016. The S&P 500 had its worst October since September 2011.

“As long as the yield curve stays positive, investors should stay generally bullish, and you tactically move based on ridiculous levels of euphoria, when you have an environment ripe for volatility, versus recently where you have environments ripe for opportunity because you had that kind of I call it a whoosh … and then a retest.”

He has said he plans to stay bullish until the yield curve inverts, which means long-term rates are lower than short-term ones. Historically when that happens it has signaled a recession in the foreseeable future.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: michelle fox, brendan mcdermid
Keywords: news, cnbc, companies, yield, tony, close, stay, minus, mean, street, sp, ripe, market, month, dow, curve, hitting, wall, upside, dwyer, signal


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US stock futures pull back after Dow notched strong triple-digit gain on Wednesday

Wall Street saw a stellar session on Wednesday, with the Dow Jones Industrial Average closing up over 600 points following a speech by the chair of the Federal Reserve. Consequently, Powell’s comments on Wednesday caused stocks to rise both domestically and overseas. Investors will be keeping a close eye on this release, to see if there are any further clues as to where monetary policy is heading. A number of Fed officials are also slated to speak in Boston, Massachusetts on Thursday. Elsewhere,


Wall Street saw a stellar session on Wednesday, with the Dow Jones Industrial Average closing up over 600 points following a speech by the chair of the Federal Reserve. Consequently, Powell’s comments on Wednesday caused stocks to rise both domestically and overseas. Investors will be keeping a close eye on this release, to see if there are any further clues as to where monetary policy is heading. A number of Fed officials are also slated to speak in Boston, Massachusetts on Thursday. Elsewhere,
US stock futures pull back after Dow notched strong triple-digit gain on Wednesday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: fred imbert, alexandra gibbs, spencer platt, getty images
Keywords: news, cnbc, companies, rate, strong, york, stock, place, gain, powell, investors, tripledigit, close, futures, interest, neutral, comments, pull, notched, federal, dow


US stock futures pull back after Dow notched strong triple-digit gain on Wednesday

Wall Street saw a stellar session on Wednesday, with the Dow Jones Industrial Average closing up over 600 points following a speech by the chair of the Federal Reserve. On Wednesday, Jerome Powell said at an event in New York that he deems the Fed’s benchmark interest rate to be close to a neutral level; which marks a step away from comments made in recent months.

Back in October, Powell stated that the U.S. was a “long way” from hitting neutral, when it came to interest rates — which indicated to markets that more rate hikes were on the horizon. Consequently, Powell’s comments on Wednesday caused stocks to rise both domestically and overseas.

Sticking with the U.S. central bank, minutes from the last Federal Open Market Committee meeting, which took place earlier this month, are due out at 2 p.m. ET. Investors will be keeping a close eye on this release, to see if there are any further clues as to where monetary policy is heading. A number of Fed officials are also slated to speak in Boston, Massachusetts on Thursday.

Elsewhere, investors continue to look ahead to a G-20 summit in Argentina, which takes place this Friday and Saturday. Trade relations between the U.S. and China will be a key topic up for discussion, especially since both nations’ leaders will be attending the event.

CNBC’s Jeff Cox contributed to this report


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: fred imbert, alexandra gibbs, spencer platt, getty images
Keywords: news, cnbc, companies, rate, strong, york, stock, place, gain, powell, investors, tripledigit, close, futures, interest, neutral, comments, pull, notched, federal, dow


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Trump says he’s close to China trade deal but ‘I don’t know that I want to do it’

President Donald Trump told reporters Thursday he was “close” to doing something on trade with China. He made the remarks as he prepared to depart for the G-20 summit meeting of world leaders in Argentina. “I think we’re very close to doing something with China but I don’t know that I want to do it,” Trump told reporters. “I will tell you that I think China wants to make a deal, I’m hoping to make it a deal but, frankly, I like the deal we have right now.” Overshadowing Trump’s comments was a re


President Donald Trump told reporters Thursday he was “close” to doing something on trade with China. He made the remarks as he prepared to depart for the G-20 summit meeting of world leaders in Argentina. “I think we’re very close to doing something with China but I don’t know that I want to do it,” Trump told reporters. “I will tell you that I think China wants to make a deal, I’m hoping to make it a deal but, frankly, I like the deal we have right now.” Overshadowing Trump’s comments was a re
Trump says he’s close to China trade deal but ‘I don’t know that I want to do it’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: liz moyer
Keywords: news, cnbc, companies, close, right, think, china, deal, tariffs, summit, hes, know, dont, told, trump, reporters, trade


Trump says he's close to China trade deal but 'I don't know that I want to do it'

President Donald Trump told reporters Thursday he was “close” to doing something on trade with China.

He made the remarks as he prepared to depart for the G-20 summit meeting of world leaders in Argentina.

“I think we’re very close to doing something with China but I don’t know that I want to do it,” Trump told reporters. “Because what we have right now is billions and billions of dollars coming into the United States in the form of tariffs or taxes, so I really don’t know.”

Trump is supposed to meet with China’s president, Xi Jinping, while the two attend the summit. Trade and tariffs have been topics of increasing tension between the two countries since Trump started ratcheting up the heat earlier this year in a series of escalating tariffs on Chinese imports. China has retaliated with tariffs of its own on U.S. imports.

“I will tell you that I think China wants to make a deal, I’m hoping to make it a deal but, frankly, I like the deal we have right now.”

Overshadowing Trump’s comments was a report that White House economic advisor and China trade hawk Peter Navarro would be attending the Trump-Xi dinner. The report sent the Dow briefly to its low of the day.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: liz moyer
Keywords: news, cnbc, companies, close, right, think, china, deal, tariffs, summit, hes, know, dont, told, trump, reporters, trade


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Saudi Arabia close to clinching $15 billion deal to buy THAAD missile system

WASHINGTON — Saudi Arabia has signed a letter of offer and acceptance with the United States for Lockheed Martin’s THAAD missile system, a significant step forward in the $15 billion deal, a State Department spokesperson confirmed to CNBC. Manufactured by Lockheed Martin, the Pentagon’s top weapons supplier, THAAD, or terminal high altitude area defense, is regarded as America’s crown jewel in missile defense systems. The development comes as Saudi Arabia is under fire over the killing of journa


WASHINGTON — Saudi Arabia has signed a letter of offer and acceptance with the United States for Lockheed Martin’s THAAD missile system, a significant step forward in the $15 billion deal, a State Department spokesperson confirmed to CNBC. Manufactured by Lockheed Martin, the Pentagon’s top weapons supplier, THAAD, or terminal high altitude area defense, is regarded as America’s crown jewel in missile defense systems. The development comes as Saudi Arabia is under fire over the killing of journa
Saudi Arabia close to clinching $15 billion deal to buy THAAD missile system Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: amanda macias, source, us army photo sgt brandon banzhaf, air defense artillery brigades public affairs ncoi
Keywords: news, cnbc, companies, clinching, trump, spokesperson, missile, billion, buy, thaad, saudi, close, defense, sale, arabia, step, system, deal


Saudi Arabia close to clinching $15 billion deal to buy THAAD missile system

WASHINGTON — Saudi Arabia has signed a letter of offer and acceptance with the United States for Lockheed Martin’s THAAD missile system, a significant step forward in the $15 billion deal, a State Department spokesperson confirmed to CNBC.

Saudi officials, alongside their U.S. counterparts, signed the crucial government-to-government agreement earlier this week, paving the way for the massive sale of 44 THAAD launchers, missiles and related equipment.

Manufactured by Lockheed Martin, the Pentagon’s top weapons supplier, THAAD, or terminal high altitude area defense, is regarded as America’s crown jewel in missile defense systems.

The Saudi Embassy did not respond immediately to CNBC’s request for comment.

The development comes as Saudi Arabia is under fire over the killing of journalist Jamal Khashoggi, as well as its role in the war in Yemen. President Donald Trump, meanwhile, has cited the importance of defense deals in defending his decision to stick with the kingdom in the aftermath of the slaying. Saudi Crown Prince Mohammed bin Salman has denied knowledge of the attack, although the CIA reportedly concluded that he ordered Khashoggi’s death.

Read more: Limits on Saudi arms deals would have little impact on defense firms

Saudi Arabia and the U.S. entered formal discussions for THAAD in December 2016.

“After completing required congressional notifications in 2017, followed by many months of negotiation, signing letters of offer and acceptance marks a step toward protecting the United States and its regional partners from Iranian-origin missiles,” said the State Department spokesperson, who spoke on the condition of anonymity.

“The sale of the THAAD missile defense system benefits U.S. national security by supporting the long-term security of Saudi Arabia and the Gulf region in the face of the growing ballistic missile threat from the Iranian regime and Iran-backed extremist groups,” the spokesperson added.

Thomas Karako, director of the Missile Defense Project at the Center for Strategic and International Studies, echoed those notions.

“It’s a big step forward to strengthening missile defense capabilities in the Gulf, in a couple of ways,” he said. “Besides probably being the largest missile defense sale to date, it also represents an important political commitment by both the U.S. and the Kingdom of Saudi Arabia to counter Iranian ballistic missiles by every means possible.”

Read more: Russia lures buyers with a missile system that costs less than U.S. models

Saudi Arabia’s oil-rich monarchy is one of America’s most crucial strategic partners and a significant patron of U.S. defense companies. The Saudis are the top buyers of U.S.-made arms, a title that has safeguarded the kingdom from retaliatory sanctions over the killing of Khashoggi and the war in Yemen.

In an extraordinary statement last week, Trump affirmed that the U.S. would continue to stand with Saudi Arabia, linking the countries’ relationship to his “America first” platform. Trump also has commented on the potential impact to defense suppliers if the U.S. were to sanction the Saudis over the Khashoggi killing.

“I tell you what I don’t want to do,” Trump said to CBS’ “60 Minutes” last month, when he was asked about possibly blocking arms sales to Riyadh. “Boeing, Lockheed, Raytheon, all these [companies]. I don’t want to hurt jobs. I don’t want to lose an order like that. There are other ways of punishing, to use a word that’s a pretty harsh word, but it’s true.”


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: amanda macias, source, us army photo sgt brandon banzhaf, air defense artillery brigades public affairs ncoi
Keywords: news, cnbc, companies, clinching, trump, spokesperson, missile, billion, buy, thaad, saudi, close, defense, sale, arabia, step, system, deal


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CVS, Aetna expect their roughly $69 billion deal to close within days

CVS Health and Aetna have received the final state approval they need to complete their roughly $69 billion merger and now expect the deal to close “on or about” Nov. 28, the companies said Monday in regulatory filings. However, a handful of the 28 states CVS and Aetna needed approval from opposed the combination, saying it would reduce competition and could leave consumers worse off. CVS and Aetna announced the deal last December. The Department of Justice granted preliminary approval in Octobe


CVS Health and Aetna have received the final state approval they need to complete their roughly $69 billion merger and now expect the deal to close “on or about” Nov. 28, the companies said Monday in regulatory filings. However, a handful of the 28 states CVS and Aetna needed approval from opposed the combination, saying it would reduce competition and could leave consumers worse off. CVS and Aetna announced the deal last December. The Department of Justice granted preliminary approval in Octobe
CVS, Aetna expect their roughly $69 billion deal to close within days Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: angelica lavito, cameron costa
Keywords: news, cnbc, companies, approval, days, aetna, cvs, expect, roughly, billion, health, companies, merger, plans, medicare, 69, deal, close


CVS, Aetna expect their roughly $69 billion deal to close within days

CVS Health and Aetna have received the final state approval they need to complete their roughly $69 billion merger and now expect the deal to close “on or about” Nov. 28, the companies said Monday in regulatory filings.

The companies had been expecting to finalize the merger by Thanksgiving. However, a handful of the 28 states CVS and Aetna needed approval from opposed the combination, saying it would reduce competition and could leave consumers worse off.

CVS and Aetna announced the deal last December. The Department of Justice granted preliminary approval in October on the condition that CVS and Aetna removed overlap between their Medicare Part D plans. Aetna said it would sell its Medicare Part D drug plan business to WellCare Health Plans for an undisclosed amount to ease the concerns.


Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: angelica lavito, cameron costa
Keywords: news, cnbc, companies, approval, days, aetna, cvs, expect, roughly, billion, health, companies, merger, plans, medicare, 69, deal, close


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Trump’s rails against court, migrants in call to troops

President Donald Trump used a Thanksgiving Day call to troops deployed overseas to pat himself on the back and air grievances about the courts, trade and migrants heading to the U.S.-Mexico border. “You probably see over the news what’s happening on our southern border,” Trump told one Air Force brigadier general stationed at Bagram Airfield in Afghanistan, adding: “I don’t have to even ask you. Trump’s border threat came days after a federal judge put the administration’s attempts to overhaul a


President Donald Trump used a Thanksgiving Day call to troops deployed overseas to pat himself on the back and air grievances about the courts, trade and migrants heading to the U.S.-Mexico border. “You probably see over the news what’s happening on our southern border,” Trump told one Air Force brigadier general stationed at Bagram Airfield in Afghanistan, adding: “I don’t have to even ask you. Trump’s border threat came days after a federal judge put the administration’s attempts to overhaul a
Trump’s rails against court, migrants in call to troops Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-22  Authors: frederic j brown, afp, getty images
Keywords: news, cnbc, companies, told, border, migrants, doing, rails, court, trade, country, close, trump, troops, military, trumps, mexico


Trump's rails against court, migrants in call to troops

President Donald Trump used a Thanksgiving Day call to troops deployed overseas to pat himself on the back and air grievances about the courts, trade and migrants heading to the U.S.-Mexico border.

Trump’s call, made from his opulent private Mar-a-Lago club, struck an unusually political tone as he spoke with members of all five branches of the military to wish them happy holidays.

“It’s a disgrace,” Trump said of judges who have blocked his attempts to overhaul U.S. immigration law, as he linked his efforts to secure the border with military missions overseas.

Trump later threatened to close the U.S. border with Mexico for an undisclosed period of time if his administration determines Mexico has lost “control” on its side.

The call was a uniquely Trump blend of boasting, peppered questions and off-the-cuff observations as his comments veered from venting about slights to praising troops — “You really are our heroes,” he said — as club waiters worked to set Thanksgiving dinner tables on the outdoor terrace behind him. And it was yet another show of how Trump has dramatically transformed the presidency, erasing the traditional divisions between domestic policy and military matters and efforts to keep the troops clear of politics.

“You probably see over the news what’s happening on our southern border,” Trump told one Air Force brigadier general stationed at Bagram Airfield in Afghanistan, adding: “I don’t have to even ask you. I know what you want to do, you want to make sure that you know who we’re letting in.”

Trump also continued to rail against the 9th U.S. Circuit Court of Appeals, which he said has become “a big thorn in our side.”

“It’s a terrible thing,” he said, when judges “tell you how to protect your border. It’s a disgrace.”

Later, Trump asked a U.S. Coast Guard commander about trade, which he noted was “a very big subject” for him personally.

“We’ve been taken advantage of for many, many years by bad trade deals,” Trump told the commander, who sheepishly replied that, “We don’t see any issues in terms of trade right now.”

And throughout, Trump was sure to congratulate himself, telling the officers that the county is doing exceptionally well on his watch.

“I hope that you’ll take solace in knowing that all of the American families you hold so close to your heart are all doing well,” he said. “The nation’s doing well economically, better than anybody in the world.” He later told reporters “nobody’s done more for the military than me.”

Indeed, asked what he was thankful for this Thanksgiving, Trump cited his “great family,” as well as himself.

“I made a tremendous difference in this country,” he said. “This country is so much stronger now than it was when I took office and you wouldn’t believe it and when you see it, we’ve gotten so much stronger people don’t even believe it.”

But Trump continued to warn about the situation on the southern border as he took questions from reporters, pointing to the caravans of Central American migrants that have been making their way toward the U.S. and warning that, “If we find that it gets to a level where we lose control or people are going to start getting hurt, we’re going to close entry into the country for a period of time until we get it under control.”

He said he had the authority to do so by executive order and claimed he’d already used it earlier this week. “Two days ago, we closed the border. We actually just closed it, said nobody’s coming in because it was just out of control.”

By no means did he seal the border with Mexico. Officials did shut down one port of entry, San Ysidro, in California, for several hours early Monday morning to bolster security because of concerns about a potential influx of migrant caravan members. They closed northbound lanes into the U.S. and reopened most of them before the morning rush.

Trump’s border threat came days after a federal judge put the administration’s attempts to overhaul asylum rules on hold. Courts have also blocked several versions of the president’s travel ban as well as his attempt to end a program that allows young immigrants brought to the country illegally as children to live and work in the country.

Trump probably could close the entire southern border by order, at least temporarily, invoking national security powers. Doing so could cause extraordinary damage to bilateral relations as well as to cross-border commerce between the U.S. and Mexico, its third largest trading partner. It would not necessarily stop migrants from coming; Trump would have to contend with the same asylum laws already vexing his efforts to harden the border.

Among other subjects the president touched on in his question-and-answer session with the press:


Company: cnbc, Activity: cnbc, Date: 2018-11-22  Authors: frederic j brown, afp, getty images
Keywords: news, cnbc, companies, told, border, migrants, doing, rails, court, trade, country, close, trump, troops, military, trumps, mexico


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Gap looking to close hundreds of stores at malls ‘quickly and aggressively’

Gap Inc. is considering shutting hundreds of its namesake stores at shopping malls as sales at the Gap brand continue to slide. In the fiscal third quarter, sales at Gap stores open for at least 12 months fell 7 percent, while those at Old Navy and Banana Republic were positive. Peck said that should the company “address” the bottom half of its fleet of Gap stores, it could contribute more than $100 million to earnings. He added the company is looking to make decisions about shutting stores “wit


Gap Inc. is considering shutting hundreds of its namesake stores at shopping malls as sales at the Gap brand continue to slide. In the fiscal third quarter, sales at Gap stores open for at least 12 months fell 7 percent, while those at Old Navy and Banana Republic were positive. Peck said that should the company “address” the bottom half of its fleet of Gap stores, it could contribute more than $100 million to earnings. He added the company is looking to make decisions about shutting stores “wit
Gap looking to close hundreds of stores at malls ‘quickly and aggressively’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: lauren thomas
Keywords: news, cnbc, companies, vision, looking, specialty, hundreds, view, store, stores, gap, analysts, brand, company, quickly, malls, aggressively, close, peck


Gap looking to close hundreds of stores at malls 'quickly and aggressively'

Gap Inc. is considering shutting hundreds of its namesake stores at shopping malls as sales at the Gap brand continue to slide.

The retailer said Tuesday evening that it still has 775 Gap-branded stores globally, in addition to those under the Old Navy, Banana Republic and Athleta banners. Gap Inc. has more than 3,000 stores around the world. The namesake brand, however, has been the weakest unit of the company of late. In the fiscal third quarter, sales at Gap stores open for at least 12 months fell 7 percent, while those at Old Navy and Banana Republic were positive.

“There are hundreds of other stores that likely don’t fit our vision for the future of Gap brand specialty store, whether in terms of profitability, customer experience, traffic trends,” CEO Art Peck said Tuesday evening during a call with analysts. “The range from the very best to the very worst stores is extremely broad.”

Peck said that should the company “address” the bottom half of its fleet of Gap stores, it could contribute more than $100 million to earnings. He added the company is looking to make decisions about shutting stores “with urgency,” including looking at closing some of Gap’s “amazing flagships.”

“There likely will be a cash cost to exit many of these stores, which we will attempt to minimize,” Peck told analysts. “But I plan to exit those that do not fit the future vision quickly. I’m going to move thoughtfully but aggressively.”

Gap shares were recently up about 4.6 percent midday Wednesday. The stock has fallen more than 24 percent already this year.

Some analysts are hopeful that Peck and his team are taking the right steps to get the Gap brand back on its feet, enough to not drag the parent company’s other labels down with it.

“We view management’s comment on addressing the bottom half of the Gap’s specialty store base as encouraging if executed right,” Cowen and Co. analyst Oliver Chen said in a research note. “We view that improving profitability of the Gap brand is crucial to making GPS’ performance consistent and healthy.”

To be sure, this will also leave mall owners with more empty storefronts to fill, while they’re already dealing with closures from Sears, Bon-Ton, Claire’s, The Children’s Place and others. Many landlords are, in turn, starting to consider new uses like gyms, apartment complexes and coworking units to move in.

Gap hasn’t named the specific locations it will close but said it will give more details when the company provides its forecast for the next fiscal year.


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: lauren thomas
Keywords: news, cnbc, companies, vision, looking, specialty, hundreds, view, store, stores, gap, analysts, brand, company, quickly, malls, aggressively, close, peck


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