Glencore has revealed plans to cut 500,000 tonnes of zinc production due to low prices, shuttering mines in Australia and Peru.» Read More
Oct 6- Yum Brands Inc said on Tuesday sales at established restaurants in its top market of China rose far less than expected for the third quarter, sending its shares down more than 17 percent in extended trading. China is Yum's biggest market for profit and sales, and its challenges there appear to be changing from reputational to economic.
NEW YORK— Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:. BP PLC, up 82 cents to $34.31. PepsiCo Inc., up $1.26 to $97.07.
Oct 6- Yum Brands Inc on Tuesday said sales at established restaurants in China rose far less than expected for the third quarter, sending shares down nearly 17 percent in extended trading. Sales at China KFC and Pizza Hut restaurants open at least one year rose 2 percent, less than the 9.6 percent jump analysts had expected, according to research firm Consensus...
LOUISVILLE, Ky.— Shares of Yum Brand plunged in late trading Tuesday after the owner of KFC, Pizza Hut and Taco Bell cut its profit outlook for the year, citing a slower-than-expected comeback for its key China division. In the latest quarter, however, the company said sales in China rose just 2 percent at established locations, reflecting a 3 percent increase at KFC...
Oct 6- Freeport-McMoRan Inc, under pressure from activist shareholder Carl Icahn and weak commodity prices, said on Tuesday it is slashing the size of its board and exploring a spinoff or a joint venture for its oil and gas operations. The move sent Freeport shares up more than 5 percent to $11.74 in early trading in New York, with investors welcoming the prospect...
BUZZ- FREEPORT- MCMORAN INC: REVIEWING OPTIONS FOR OIL AND GAS. **Energy and mining company's shares up 2.4 pct at $11.45 premarket. **Announcement comes a week after its biggest shareholder and activist investor Carl Icahn said that company was an example of a "golden" buying opportunity.
Kullman fought off a bruising challenge from major shareholders Nelson Peltz and his Trian Fund Management L.P. earlier this year. The fight prompted DuPont to consider some options and step up its public relations campaign about the spinoff of its performance chemicals unit, call The Chemours Co.. The spinoff of Chemours was completed over the summer.
*TeliaSonera drops 3 pct after newspaper report. *Bouygues rises after defending standalone strategy. Joe Rundle, head of trading at ETX Capital, said that the data and problems at Volkswagen partly explained the underperformance of Germany's blue-chip DAX index.
Oct 5- DuPont Chief Executive Ellen Kullman is stepping down this month and will replaced temporarily by board member and veteran U.S. executive Edward Breen, who oversaw the break-up of conglomerate Tyco International. Shares of DuPont, officially known as E.I. du Pont de Nemours& Co, rose 5.6 percent to $54.17 in extended trading. Kullman, 59, joined the company...
Oct 5- DuPont said on Monday Chief Executive Ellen Kullman is to retire this month and will be replaced temporarily by board member and veteran U.S. executive Edward Breen, who oversaw the break-up of conglomerate Tyco International. Shares of DuPont, officially known as E.I. du Pont de Nemours& Co, rose 4.9 percent to $53.79 in extended trading.
NEW YORK— Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market:. General Electric Co., up $1.35 to $26.82. Twitter Inc., up $1.84 to $28.15.
Shares of Spark Therapeutics soared after the drug developer reported positive, early results from a late-stage study of its potential gene-therapy treatment for a rare, inherited condition that can lead to blindness. The Philadelphia- based drug developer said Monday that its treatment, labeled SPK-RPE65, met the main goal of a phase three study by showing...
NEW YORK— Newell Rubbermaid is buying Elmer's for about $600 million as it attempts to boost its back-to school sales. Elmer's Products Inc. owns Elmer's Krazy Glue and X-Acto. Shares of Newell Rubbermaid Inc., based in Atlanta, rose 14 cents to $40.75 in morning trading.
NEW YORK— Wendy's said Monday that it its next CEO will be chief financial officer Todd Penegor. He previously worked at cereal maker Kellogg Co. and automaker Ford Motor Co. Wendy's said it is looking outside the company for a new CFO. Shares of The Wendy's Co. fell a penny to $8.70 in morning trading Monday.
Oct 5- Shares of Alphabet Inc, the new umbrella company for Google Inc, rose slightly in their first few minutes of trading on Monday. Alphabet's Class A shares were up 0.1 percent at $657.74, while the Class C shares were up 0.27 percent at $628.79 after about five minutes of trading. Alphabet is identical to Google from a stock market perspective.
Oct 5- Spark Therapeutics Inc said its experimental gene therapy helped improve vision in patients with a type of inherited eye disorder in a late-stage study, sending its shares up more than 50 percent in premarket trading. Spark, whose shares were trading at $69.51 before the opening bell, said it would file for marketing approval in the United States in 2016..
Oct 5- Twitter Inc named co-founder and interim Chief Executive Jack Dorsey as its permanent CEO, ending months of speculation about who would take the reins at the company. Dorsey has served as interim CEO of the microblogging service since former CEO Dick Costolo stepped down on July 1. Twitter's shares were up 3 percent at $27.10 in premarket trading.
HONG KONG, Oct 5- Hong Kong shares rose 1.6 percent on Monday, with technology and financial stocks leading the way, as expectations of a United States interest rate hike this year diminished on weaker-than-forecast jobs data. Shares of Galaxy Entertainment jumped 5.3 percent, Wynn Macau gained 2.7 percent and Sands China rose 3.4 percent.
Telenor Group will sell its 33 percent stake in VimpelCom for close to $2.4B, to focus on its core operations.
HONG KONG, Oct 5- Hong Kong shares rose nearly 2 percent early Monday, led by financials and Macau gambling stocks, lifted by a wave of short covering and hopes for China policy moves, though gains may be limited around a key level. One broker credited better-than-expected tourist arrivals n Macau during China's Golden Week holidays. Shares of Galaxy...