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  • Aug 23- Tesla Motors Inc chief executive Elon Musk said on Tuesday that the company planned to make a product announcement later in the day, sending the company's share price higher. "Tesla product announcement at noon California time today," Musk tweeted. Shares rose more than 1 percent after the post and were recently trading up $3.69, or 1.7 percent, to $226.62 a...

  • Aug 23- Best Buy Co Inc reported a much higher-than-expected quarterly profit on strength in health and wearable items like smartwatches, and the largest U.S. electronics retailer raised its earnings outlook, sending its shares up nearly 17 percent. Best Buy Chief Executive Officer Hubert Joly said he expected demand to increase this quarter and next as...

  • Shares of the company, which builds homes that cost upwards of $2 million, were up 2.3 percent on Tuesday. The company revised its forecast of home deliveries for the year ending Oct. 31 to 5,900-6,200 from its previous range of 5,800-6,300 homes. The Horsham, Pennsylvania- based company raised the lower end of its average selling price forecast for the year ending...

  • Aug 23- Best Buy Co Inc reported a much higher-than-expected quarterly profit on strength in health and wearable items like smartwatches, and the largest U.S. electronics retailer raised its earnings outlook, sending its shares up nearly 16 percent. Chief Executive Officer Hubert Joly said he expected mobile phone sales to increase this quarter and next as...

  • Excluding special items, the company earned 57 cents per share in the second quarter ended on July 30. Best Buy also forecast revenue of $8.8 billion to $8.9 billion for the third quarter, while analysts on average were expecting $8.77 billion. The company expects earnings of 43 cents to 47 cents per share, compared with Wall Street forecasts of 45 cents.

  • BUDAPEST, Aug 23- Shares in Polish state-run insurer PZU fell to a record low on Tuesday on a report it would hold talks to buy Bank Pekao from UniCredit, a move investors worried could hurt future dividend payments. Warsaw's bluechip stock index has been one of Central Europe's worst performers with a 3.2 percent loss so far this year, compared with a 15.3 percent...

  • Oil prices have rallied recently but exploration firm Oil Search wouldn’t be loosening its belts.

  • Australia's Fortescue Metals Group reported a full-year net profit of $985 million, triple last year's net profit for the year to end-June.

  • Aug 22- Pfizer Inc, beating out numerous other bidders, said it agreed to buy U.S. cancer drug company Medivation Inc for $14 billion in cash, adding its blockbuster prostate cancer drug Xtandi to the company's growing oncology roster. Medivation shares jumped nearly 20 percent to close at $80.42, just shy of the offer price of $81.50 per share.

  • Aug 22- Pfizer Inc, beating out numerous other bidders, said it would buy U.S. cancer drug company Medivation Inc for $14 billion in cash, adding its blockbuster prostate cancer drug Xtandi to the company's growing oncology roster. Medivation shares were up 20 percent at $80.43 in afternoon trading, just shy of the offer price of $81.50 per share.

  • SAO PAULO, Aug 22- Latin American stocks and currencies fell on Monday as crude prices dropped nearly 3 percent and comments from a senior U.S. Currencies from oil exporters, such as the Colombian and Mexican pesos, weakened sharply, while shares of state-controlled oil company Petróleo Brasileiro SA dragged down Brazil's benchmark Bovespa stock index.

  • LONDON, Aug 22- Swiss shares outperformed a flat European stock market on Monday, boosted by a jump in Swiss chemical company Syngenta after a bid by ChemChina to buy the firm was cleared by a U.S. watchdog. The stock contributed 32 points to Switzerland's SMI index, and single-handedly accounted for its gains. The STOXX 600 was down 0.1 percent, extending losses...

  • *Investors await this week's Jackson Hole central bankers meeting. TOKYO, Aug 22- Asian shares slipped on Monday and the dollar pulled away from last week's lows on expectations that a signal might emerge from a Federal Reserve gathering this week in Jackson Hole, Wyoming that the U.S. central bank is gearing up to hike interest rates. The Jackson Hole meeting "...

  • Shares of Deere were up 12.8 percent at $86.75 in late afternoon trading after the company reported better-than-expected second-quarter results. Deere officials said they are relying on cost cutting, not a rebound in demand, to deliver fiscal-year earnings of $1.35 billion, up from the previous forecast of $1.2 billion. Deere has put about 2,000 employees in...

  • Shares of Deere were up 11.6 percent at $85.84 in afternoon trading. The company said it expected production hours to be down 60 percent this quarter at its East Moline, Illinois, combine factory and planned to reduce them by 20 percent at its Waterloo, Iowa, tractor plant. Deere increased its fiscal-year earnings outlook to $1.35 billion from $1.2 billion.

  • TORONTO, Aug 19- Canada's main stock index was barely higher on Friday, as gains for bank, consumer and railway stocks offset declines for miners which fell on weaker metals prices. The most influential weights on the stock index included Barrick Gold Corp, which fell 0.8 percent to C $26.67. Silver Wheaton Corp fell 2.1 percent to C $38.27 and First Majestic Silver...

  • Aug 18- Applied Materials Inc forecast current-quarter revenue and profit far above analysts' estimates as the company benefits from demand for newer technology to make displays and smartphone memory chips. Shares of the world's largest supplier of tools used to make semiconductors rose 5.7 percent to $29.25 in after-hours trading on Thursday.

  • Enterprise Product Partners' approach came after peer Energy Transfer Equity LP terminated its merger agreement with Williams Cos Inc in June following a prolonged legal battle. A rise in Williams' shares in the past two months means that Enterprise Product Partners' offer currently carries little or no premium, and Williams never made an official response...

  • Earlier this year, Wal-Mart said it would invest $2.7 billion over two years to increase entry-level wages to $10 an hour, a move the company said has led to cleaner stores, faster checkouts and improved customer service. Excluding a non-cash gain of $535 million from sale of Wal-Mart's China e-commerce business, operating income dropped 7.2 percent.

  • Aug 18- Auris Medical Holding AG said its experimental drug for acute inner ear tinnitus missed the main goals of a late-stage study, sending its shares down more than 40 percent in premarket trading. The trial did not meet the two co-primary effectiveness goals of statistically significant changes in tinnitus loudness and tinnitus burden compared to a...