Новости за 10.11.2015

Former TARP chief Neel Kashkari’s appointment to head the Minneapolis Fed may be a godsend to banks upset about tough regulations coming from the U.S. central banks.

McDonald's Corp.'s corporate credit rating was downgraded one notch on Tuesday to BBB+ from A- at Standard & Poor's, which cited the fast food giant's plan to issue more debt to fund returns of cash to shareholders. The outlook is stable, S&P said. The new rating leaves McDonald's debt at three notches above "junk" status. Earlier Tuesday, McDonald's said it would finance about $10 billion in cash returns to shareholders by issuing debt, acknowledging that the announcement would likely lead to a credit downgrade. Читать дальше...

Alibaba Group Holdings surpassed $5 billion in gross merchandise volume within the first 90 minutes of Single's Day, a massive day of promotions for online sales in China held annually on Nov. 11, similar to Cyber Monday in the U.S. Last year, the company hit just $2 billion in sales in the first hour. It then went on to process $9 billion in total sales, with 42.6% of gross merchandize volume coming from mobile devices. This year, the company is expecting a greater percentage of buyers to come from mobile devices... Читать дальше...

Susquehanna Analysts said Tuesday that they believe Square is "fairly valued" with its initial offering price range of $11 to $13, though the price range puts it below its private valuation. With an expected 27 million shares to be sold, that price range would value Square at about $3.9 billion, below its $6 billion valuation as a private company. Though the analysts say the product is "disruptive" and should command a premium price, Square faces a lot of competition and hasn't proven its business model. Читать дальше...

S&P cuts McDonald's credit rating

Automatic Data Processing Inc. said Tuesday it will raise its quarterly dividend by 4 cents a share, or 8.2%, to 53 cents a share. The new dividend will be payable on Jan. 1, 2016 to shareholders of record on Dec. 11. At current share prices, the new annual dividend of $2.12 a share would represent an annual dividend yield of 2.45%, compared with the S&P 500 dividend yield of 2.12%, according to FactSet. The human resources consultant's stock, which was down 0.3% in afternoon trade, has gained 3.7% year to date... Читать дальше...

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McDonald's Corp. said Tuesday it has reviewed and decided not to pursue a Real Estate Investment Trust spin-off transaction, viewing such a deal as too risky. Chief Executive Steve Easterbrook told analysts at an investor meeting that the company is raising its refranchising target to 4,000 restaurants through 2018, with a new long-term goal to become 95% franchised. The company is also planning to return about $30 billion to shareholders in the three-year period through end 2016, and announced... Читать дальше...

EIA ups 2015 WTI crude-oil price view, but cuts 2016 forecast

The U.S. Energy Information Administration on Tuesday raised its forecast for 2015 West Texas Intermediate crude prices to $49.88 a barrel from a previous forecast of $49.53. It also lowered its 2016 WTI price forecast to $51.31 from $53.57. The EIA also said it expects U.S. crude-oil output of 9.29 million barrels a day this year, up from a prior estimate of 9.25 million barrels, but it cut its 2016 production estimate to 8.77 million barrels a day from 8.86 million. December crude was up 31 cents... Читать дальше...

Shares of several solar companies posted steep losses Tuesday in sympathy with steep falls for shares of SunEdison and SunEdison's yieldcos, TerraForm Power Inc. and TerraForm Global Inc. , after mixed third-quarter results. Top decliners included Canadian Solar Inc. , First Solar Inc. , and SunPower Corp. Canadian Solar reported better-than-expected results earlier Tuesday but markets seemed to discount that. Canadian Solar reported adjusted earnings of 79 cents a share; analysts polled by... Читать дальше...

New York’s bank regulator released its plans on Tuesday for new cybersecurity rules for financial institutions as the industry faces a growing onslaught of cyberattacks.

New York’s bank regulator released its plans on Tuesday for new cybersecurity rules for financial institutions as the industry faces a growing onslaught of cyberattacks.

Engine maker Cummins Inc. said Tuesday its board has approved a $1 billion share buyback program, which it will commence once it has completed an earlier $1 billion program, that was approved in July 2014. The company unveiled the program at an investor meeting during which it discussed its plans to drive profitable growth. The company said challenging conditions in some of its markets will reduce 2016 revenue by 5% versus 2015. The company is planning cost cuts, as well as investments in select opportunities and deals. Читать дальше...

Two U.S. hedge funds are seeking changes at Montreal-based Intertape to boost shareholder value.

Fidelity lowered the value of its stake in photo-sharing app Snapchat by 25% in the third quarter, according to research firm Morningstar. The fund lowered the value to $22.91 per share as of Sept. 30 from $30.72 per share as of in June and March of 2015. Snapchat was valued at $16 billion in May, according to The Wall Street Journal, but has only recently started efforts to monetize the platform. Fidelity said it does not comment on individual companies.

Kohl's Corp. will open for business on Thanksgiving day, adding to the growing number of retailers that have announced evening openings on the holiday. Kohl's said in a statement that stores will open at 6 p.m. (with some variation). Other companies that have announced Thanksgiving openings include Best Buy Co. Inc. , Target Corp. and H&M . For the first time, Kohl's is making Black Friday deals available on its website starting Tuesday. Kohl's will announce third-quarter results on Nov. Читать дальше...

Shares of EMC Corp. fell 1% in late-morning trade Tuesday after Recode published a report claiming that "Dell insiders" are worried about the high tax liability of its proposed $67 billion takeover deal of EMC. If approved, the transaction would mark the largest tech deal in history. Dell could end up being billed $9 billion in taxes under the deal's set-up, unnamed sources told Recode. Their concerns reportedly stem from U.S. tax law that governs "certain distributions of stock or securities in connection with acquisitions," which... Читать дальше...

SunEdison, related yieldcos tank after TerraPower's disappointing results

The work of Italian artist Amedeo Modigliani just sold for a mind-numbing sum.

The work of Italian artist Amedeo Modigliani just sold for a mind-numbing sum.

The work of Italian artist Amedeo Modigliani just sold for a mind-numbing sum.

Shares of SunEdison Inc. and the yieldcos connected to the solar-power developer, TerraForm Power Inc. and TerraForm Global Inc. , tanked Tuesday following disappointing quarterly results for TerraPower. SunEdison reported third-quarter results that beat expectations -- revenue of $476 million compared with consensus $452 million, and earnings of 92 cents a share versus expectations of 60 cents a share -- but TerraForm did not. The yieldco reported a loss of 3 cents a share in the third quarter... Читать дальше...

U.S. stocks edge lower on Tuesday with the benchmark S&P 500 on track to log its fifth day of declines

U.S. stocks edge lower on Tuesday with the benchmark S&P 500 on track to log its fifth day of declines