CVC Capital Partners has postponed its plans to list in Amsterdam, another blow to the jittery initial public offering market. The global buyout firm, which competes with Apollo Global Management Inc. APO, Blackstone Inc. BX, and other private-equity giants, had planned to go public as early as this week. But wobbly market conditions have probably …
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Shares of Norwegian Cruise Line Holdings Ltd. slumped Wednesday after the cruise operator topped third-quarter profit estimates but cut its full-year outlook as consumers grew cautious about sailings to the Middle East region. “We are seeing both elevated cancellation activity and lower new bookings for this region, primarily for close-in sailings, as the conflict is …
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Apollo Global Management Inc.’s stock APO rose 2.7% in premarket trading on Wednesday after the private-equity firm said it swung to a third-quarter profit and beat the analyst target for total asset management fee related revenue. Apollo reported a third-quarter profit of $660 million, or $1.10 a share, after a year-ago loss of $563 million, …
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Shares of SunPower Corp. SPWR tumbled 12.9% toward a 3 1/2-year low in premarket trading Wednesday after the solar energy provider reported downbeat third-quarter results and cut its full-year outlook, citing lower-than-expected consumer demand and delayed revenue recognition from longer cycle times. The company swung to a net loss of $31.95 million, or 18 cents …
Wingstop Inc.’s stock WING rose 7% in premarket trade Wednesday, after the operator of chicken restaurants topped third-quarter earnings estimates by a wide margin. The Dallas-based company posted net income of $19.5 million, or 65 cents a share, up from $13.4 million, or 45 cents a share, in the year-earlier period. Adjusted per-share earnings came …
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The Energy Information Administration on Wednesday reported that U.S. commercial crude inventories climbed by 800,000 barrels for the week ended Oct. 27. On average, analysts polled by S&P Global Commodity Insights expected the report to show a rise of 870,000 barrels. The EIA report revealed a supply increase of 100,000 barrels for gasoline, while distillate …
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Splunk Inc. SPLK said Wednesday it’s planning to cut about 7% of its global workforce, mostly in the U.S. The company had 8,000 employees as of Jan. 31, according to its most recent annual report, suggesting about 560 employees will be cut. The software company expects to book charges of about $42 million for severance …
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U.S. stocks opened higher on Wednesday after erasing premarket losses following the Treasury’s release of its latest refunding schedule. Investors are now looking ahead to Federal Reserve Chairman Jerome Powell’s afternoon press conference and the release of the central bank’s latest decision on interest rates. The S&P 500 SPX opened higher by 7 points, or …
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Generac Holdings Inc.’s stock GNRC was up 5.3% in premarket trading on Thursday after the generator maker’s third-quarter profit and revenue beat analyst estimates. Generac said its third-quarter profit rose to $60 million, or 97 cents a share, from $58 million, or 83 cents a share, in the year-ago quarter. Adjusted net income in the …
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Yum Brands Inc. reported better-than-expected earnings before market open Wednesday. The parent of Taco Bell, Pizza Hut and KFC fast-food restaurants had net income of $416 million, or $1.46 a share, up from $331 million, or $1.14 a share, in the year-earlier period. Adjusted per-share earnings came to $1.44, ahead of the $1.27 FactSet consensus. …
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