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Top News & Analysis New York

  • *Co to cut prices, launch brands, spend on stores& online. Feb 28- Target Corp's full-year profit forecast fell far below market expectations as the retailer said it would take a $1 billion hit to margins in efforts to ramp up its online presence and cut prices to stay relevant amid fierce competition. Target's disappointing results come with the retail industry...

  • "Ask Brianna" is a Q&A column from NerdWallet for 20- somethings or anyone else starting out. I'm here to help you manage your money, find a job and pay off student loans— all the real-world stuff no one taught us how to do in college. Send your questions about postgrad life to askbrianna@nerdwallet.com.

  • Fidelity said it will cut its commission for retail brokerage investors trading U.S. stocks and exchange-traded funds online by more than a third to $4.95 from $7.95, among other fee cuts. It was only earlier this month that rival Charles Schwab cut its base commission for online stock and ETF trades to $6.95 from $8.95, a move that many investors anticipated...

  • NEW YORK— Prosecutors say a former broker who pitched "worthless" stock to investors and television viewers faces prison for participating in a $131 million market manipulation scheme. Attorney Robert L. Capers in Brooklyn says Herschel "Tres" Knippa of Dallas pleaded guilty Monday to conspiracy to commit securities fraud. Authorities say the scheme, which ran...

  • Investors were sizing up the latest company earnings and economic data while looking ahead to an evening speech by President Donald Trump to both houses of Congress. BIG SPEECH: Investors are anxiously awaiting Trump's first speech to a joint session of Congress later Tuesday and in particular will be seeking more clarity on tax cuts, infrastructure...

  • Still, Valeant predicted that it could grow dermatology and said it sees single-digit growth in the gastrointestinal business, which it gained with its purchase of Salix Pharmaceuticals last year, as well as in Bausch& Lomb eyecare. It said it has paid down about $1 billion in debt so far and would put the sale of its Dendreon cancer treatment business and three...

  • LONDON, Feb 28- Two former Barclays traders were driven by the desire for money and showed scant regard to honesty and integrity when they conspired to rig global Libor interest rates, a lawyer for the UK Serious Fraud Office told a London jury trial on Tuesday. Emma Deacon, prosecutor for the SFO, said the men "essentially cheated" others when they schemed with...

  • LONDON, Feb 28- The European Union could be left with no exchange big enough to compete with U.S. rivals and no trading link into Britain if it allows the London Stock Exchange and Deutsche Boerse merger to die. Deutsche Boerse Chief Executive Carsten Kengeter had warned that a failure to complete the LSE deal would weaken Frankfurt, Germany's main financial...

  • In documents posted to its website on Tuesday as part of its annual investor day, JPMorgan predicted its costs will rise 3.4 percent to $58 billion, from $56.1 billion this year. At the day-long confab, held at JPMorgan's headquarters in New York, top executives offer their visions for the bank's four major business lines and mingle with investors, analysts and...

  • NEW HAMPTON, N.Y. _ Balchem Corp. on Tuesday reported fourth-quarter profit of $15.9 million. The New Hampton, New York- based company said it had net income of 50 cents per share. For the year, the company reported profit of $56 million, or $1.75 per share.

  • LONDON, Feb 28- Intercontinental Exchange is looking into setting up a London- based metals trading system, industry sources familiar with the matter said, more than four years after its ailed attempt to buy the London Metal Exchange. The sources said New York- listed ICE is talking to Martin Abbott, a former chief executive of the 140- year-old LME, the world's...

  • Feb 28- JPMorgan Chase& Co, the biggest U.S. bank by assets, said it expected 2017 expenses to rise about 3.4 percent as it spends more on technology and in signing up new credit card accounts. Total adjusted expenses for 2017 are expected to be about $58 billion, up from $56.1 billion in 2016, according to slides posted on the company's website as part of the bank's...

  • Feb 28- Canada's Valeant Pharmaceuticals International Inc reported a better-than-expected quarterly profit on Tuesday, helped by lower costs and strength in its Bausch and Lomb eyecare business. Net loss attributable to Valeant widened to $515 million, or $1.47 per share in the fourth quarter ended Dec. 31, from $385 million, or $1.12 per share, a year earlier.

  • NEW YORK _ Ophthotech Corp. on Tuesday reported a loss of $66.3 million in its fourth quarter. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.64 per share. Four analysts surveyed by Zacks expected $6.3 million.

  • LONG ISLAND CITY, N.Y. _ Steven Madden Ltd. on Tuesday reported fourth-quarter profit of $28.7 million. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 49 cents per share. Four analysts surveyed by Zacks expected $336.3 million.

  • NEW YORK _ New Senior Investment Group Inc. on Tuesday reported a key measure of profitability in its fourth quarter. The real estate investment trust, based in New York, said it had funds from operations of $26 million, or 31 cents per share, in the period. The company said it had a loss of $2.8 million, or 3 cents per share.

  • NEW YORK _ ExlService Holdings Inc. on Tuesday reported fourth-quarter net income of $15.5 million. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 61 cents per share. ExlService Holdings expects full-year earnings in the range of $2.50 to $2.60 per share, with revenue in the range of $735 million to $760...

  • NEW YORK _ Drive Shack Inc. on Tuesday reported a loss of $19.7 million in its fourth quarter. On a per-share basis, the New York- based company said it had a loss of 32 cents. For the year, the company reported a loss of $65.9 million, or $1.04 per share, swinging to a loss in the period.

  • PARIS, Feb 28- If financial markets are a guide, France is facing a perilous period of turbulence and uncertainty as the presidential election nears. While France's bond yields have spiked and its stocks have trailed the rest of the euro zone, as investors run scared of political risk, the country's economic prospects are actually looking up.

  • Jordan Horowitz, producer of the movie "La La Land," was forced to acknowledge the major error last night. Moonlight wins the Best Picture Oscar after a mishap that named La La Land the winner at the 89th Annual Academy Awards.

    Media reports said accountant had been tweeting backstage shortly before he gave presenters Warren Beatty and Faye Dunaway the wrong envelope.