With GE leading the way, the Internet of Things has experts giddy about what it could do not only for the global economy but for industrial stocks.» Read More
Like thunderstorms cooling an overheated landscape, more selling could rumble through the stock market in the coming week.
NEW YORK, April 13- The wrenching selloff in U.S. high-growth technology and biotech shares could leave investors braced for more than a minor pullback when earnings pick up speed this week.
NEW YORK— Is the selling over or has it just begun? That's the question investors are asking after the biggest weekly drop in the Standard and Poor's 500 index since January. "The market has been trying to come back, but each time the selling just picks up," said Quincy Krosby, a market strategist at Prudential.
"There's skepticism among investors about the outlook, and we're getting into the first-quarter earnings season, so you're going to see some positioning," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin.
When will the selling stop? For insights, Jim Cramer will be watching these earnings in the week ahead.
General Electric Co. fell$. 15 or. 6 percent, to $25.43. Snap-On fell$. 65 or. 6 percent, to $109.36. Whirlpool Corp. rose$. 40 or. 3 percent, to $147.78.
NEW YORK— A look at New York Stock Exchange 10 most-active stocks at the close of trading:. AT&T Inc. rose. 2 percent to $35.20 with 34,303,500 shares traded. Alcoa Inc. fell 1.3 percent to $12.54 with 44,879,300 shares traded.
It's Talking Squawk, the official "Squawk Box" blog, this week with Bill Miller on bitcoin, a truce between eBay and Carl Icahn, and Sam Zell on taxes.
General Electric Co. rose$. 10 or. 4 percent, to $26.05. Snap-On fell$. 50 or. 4 percent, to $111.73. Whirlpool Corp. rose$. 04 or percent, to $150.12.
April 10- IT services provider iGate Corp reported better-than-expected quarterly results as it added more customers, and revenue rose in Europe and from its financial industry clients. IGate shares rose 3 percent in premarket trade on Thursday. IGate expects adjusted EBITDA margins to be modestly lower in the second quarter due to a planned wage increase.
CINCINNATI— The General Electric Co. plans to build a new U.S. global operations center in the Cincinnati area, bringing an expected 1,400 jobs to southwest Ohio. The Cincinnati area center will be one of five such centers around the world that will combine functions such as finance and information technology in the same place, GE said.
Foreign profits held overseas by U.S. corporations to avoid taxes at home nearly doubled from 2008 to 2013 to top $2.1 trillion.
*GE tops list, followed by Microsoft, Pfizer, Merck, Apple. WASHINGTON, April 8- Foreign profits held overseas by U.S. corporations to avoid taxes at home nearly doubled from 2008 to 2013 to top $2.1 trillion, said a private research firm's report, prompting a call for reform by the Senate's top tax law writer.
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WASHINGTON, April 7- Pratt& Whitney, the engine-making unit of United Technologies Corp, must redouble efforts to lower the cost of the single F135 engine it builds for the Lockheed Martin Corp F-35 fighter jet, a top U.S. military official said on Monday.
NISKAYUNA, New York, April 7- Carbon dioxide, used for years to force crude oil out of old wells, likely will not replace water in fracking anytime soon because of technical challenges and limited infrastructure, says General Electric Co, which is studying the issue under a $10 billion research program.
Rear Admiral Randy Mahr, deputy director of the Pentagon's $392 billion F-35 program, said Pratt had slowed its cost-cutting after Congress in 2011 canceled an alternate engine being developed by General Electric Co..
WASHINGTON/ PARIS, April 4- Boeing Co, the world's biggest airplane maker, and engine maker General Electric Co said on Friday they had received licenses from the U.S. Treasury Department to export certain spare parts for commercial aircraft to Iran under a temporary sanctions relief deal that began in January.
WASHINGTON, April 4- General Electric Co on Friday said it had received permission from the U.S. government to overhaul 18 engines sold to Iran in the late 1970 s under a temporary sanctions relief deal reached in January. He said GE officials would meet with officials from Iran flag carrier Iranair and MTU in Istanbul next week to discuss Iran's needs.
Hedge funds and other Wall Street firms have used an unlikely counselor for the past year: a former top economist for President Obama.