Coca-Cola shares jumped more than 4% after the company posted earnings and revenue that topped analyst expectations. United Technologies advanced nearly 2%.US Marketsread more
The IMF trims its economic growth forecast again as the U.S.-China trade war continues, Brexit worries linger and inflation remains muted.Economyread more
Citigroup thinks Tesla investors hoping for a post-earnings rally later this week should scrutinize a pair of related financial metrics.Investingread more
In advance of Amazon's earnings report on Thursday, Craig Johnson says the stock chart is pointing to big gains. Mark Tepper also likes the stock.Trading Nationread more
Olive branches were extended from both China and the U.S. as the two nations are set to restart face-to-face trade negotiations after a month-long truce.Marketsread more
Lawmakers, industry representatives and advocates are testifying to the Senate committee about the challenges that cannabis companies face in states where medical or...Health and Scienceread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
New disclosures show Facebook and Amazon each spent more than $4 million on lobbying activity in the second quarter of 2019.Technologyread more
Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
Disney can nearly double its earnings by 2024, Morgan Stanley said in a note to clients on Tuesday.Investingread more
Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
Big banks aren't missing much action in the U.S. corporate debt market.
August isn't over yet, but already U.S.-marketed corporate investment-grade bond issuance has broken another record, churning out nearly $60 billion in new deals, according to financial services data firm Dealogic.
That brings this year's tally to just under $550 billion for U.S. corporate investment-grade bond issuance. At this time, the market had cranked out nearly $570 billion in funding for the most stable companies on the market.
Lately, activist investors have been putting pressure on companies to either weigh mergers and acquisitions or cut dividend checks and make bigger buybacks. So far this summer, recent deals between big activist investors and corporate targets include PulteGroup's decision to buy back $1 billion in shares in July, and American International Group's $3 billion move this month to buy back more stock.
In the past, some of the biggest companies in the U.S. by market capitalization capitulated and paid off hedge funds in exchange for a little peace of mind; more recently activists have had to turn their gaze to less likely sectors to juice returns — including media and financial services.
Not every company to hit up the corporate investment grade bond market has been looking to send activist investors home happy.
Some have tapped into the investment-grade bond market to instead finance M&A. For example, August issuance was in part driven by Microsoft tapping U.S. investment-grade markets to finance its $26 billion takeover of professional networking site LinkedIn.