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An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
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Brent crude surged by as much as 19.5% to reach $71.95 per barrel on Monday, the biggest intra-day jump since the Gulf War in 1991.Oilread more
U.S. stock futures are under pressure Monday as oil prices spike after Saturday's coordinated strikes on key Saudi oil interests.Marketsread more
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The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007.Autosread more
Saudi Aramco has 35-40 days of supply to meet contractual obligations, a source close to the matter told CNBC.Energyread more
Medical device maker Medtronic on Tuesday reported a quarterly profit that beat analysts' estimates, driven by strong demand for its heart and vascular devices.
Sales in the company's cardiac and vascular business, which sells defibrillators, pace-makers, heart valves and stents, rose 5.1 percent to $2.65 billion in the first quarter ended July 28, Medtronic said. The business made up nearly 36 percent of total sales.
Dublin-based Medtronic also backed its full-year earnings and revenue forecasts. It expects adjusted earnings per share to increase 9 percent to 10 percent and revenue to rise 4 percent to 5 percent on a constant-currency basis in the year ending April 2018.
Net income attributable to Medtronic rose to $1.02 billion, or 74 cents per share in the first quarter ended July 28, from $929 million, or 66 cents per share, a year earlier.
Excluding one-time items, the company earned $1.12 per share, beating analysts' average estimate of $1.08, according to Thomson Reuters I/B/E/S.
Revenue climbed 3.1 percent to $7.39 billion, but missed analysts' estimates of $7.45 billion.
Medtronic said that an IT system disruption it experienced in June did have "some impact" on overall quarterly performance, but that it was not material to earnings or revenue.