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CNBC Utilities Page Companies

  • Aug 21- ASL Strategic Value Fund has sought the replacement of hospital operator Community Health Systems Inc's chief executive, Wayne Smith. Shares of the company rose about 11 percent to $7.80 in afternoon trading on Monday. Earlier this month, Community Health posted a surprise quarterly loss and narrowed its full-year revenue forecast range amid weak...

  • Herbalife said it would buy back shares for $60- $68 per share to "provide tendering shareholders with some protection" in case the company was taken private within two years for a higher price. While China's State Administration for Industry and Commerce did not name the companies in the report, the news sent the shares of Herbalife and other multi-level...

  • Aug 21- Herbalife Ltd said on Monday it had started buying back up to $600 million of its shares in the form of a modified Dutch tender, after talks with an investor to take the company private fell through. Herbalife said it would buy back shares for $60- $68 per share to "provide tendering shareholders with some protection" in case the company was taken private...

  • *Shares in Shanghai and Hong Kong units surge as trade resumes. HONG KONG, Aug 21- China Unicom's $11.7 billion ownership reform plan does not violate rules, the nation's securities regulator said, helping shares in the telecom group's units surge as they resumed trade on Monday after speculation that the deal was under scrutiny. The deal, in which Unicom's...

  • SHANGHAI, Aug 21- China stocks rose on Monday, buoyed by strong gains in telecoms group China Unicom after the country's securities regulator granted special dispensation to its $11.7 billion ownership reform plan. China Unicom Network Communications Ltd, a Shanghai- listed unit of China Unicom, surged by the daily limit of 10 percent. The China Securities...

  • SHANGHAI, Aug 21- China stocks rose on Monday, buoyed by strong gains in telecoms group China Unicom after the country's securities regulator granted special dispensation to its $11.7 billion ownership reform plan. China Unicom Network Communications Ltd, a Shanghai- listed unit of China Telecom, surged by the daily limit of 10 percent. The China Securities...

  • *Shares in Shanghai and Hong Kong units surge as trade resumes. HONG KONG, Aug 21- China Unicom's $11.7 billion ownership reform plan does not violate rules, the nation's securities regulator said, helping shares in the telecom group's units surge as they resumed trade on Monday after speculation that the deal was under scrutiny. "After going through the relevant...

  • Shares of American Airlines Group Inc. fell 48 cents to $45.55; United Continental Holdings Inc. rose 5 cents to $64.75; Southwest Airlines Co. gained 2 cents to $53.17; and Delta Air Lines Inc. was unchanged at $47.53. Warren Buffett's Berkshire Hathaway Inc. disclosed this week that it trimmed its airline investments. The firm's stakes in American, Delta,...

  • SAO PAULO, Aug 18- Brazilian stocks on Friday rose near six-month highs after the government renewed tax breaks on the oil industry, boosting shares of state-controlled Petróleo Brasileiro SA. According to a statement published on the official gazette, Brazil will extend the so-called Repetro tax regime, which sets lower taxes for exports and imports of...

  • Expectations were high for the company heading into the quarter, analysts said, as it has surprised Wall Street in the past few quarters with its ability to control costs amid weak demand. Bumper corn and soybeans harvests in the United States have driven down crop prices, leaving farmers with less cash to spend on farm equipment. Total equipment sales in the...

  • Aug 18- Cosmetics maker Estee Lauder Cos Inc forecast full-year profit ahead of analysts' estimates and posted higher-than-expected quarterly results, driven by strong demand for its brands such as M.A.C, Tom Ford and Smashbox. Sales in the company's makeup unit, which sells brands such as Tom Ford, Smashbox and La Mer, rose 16 percent to $1.31 billion.

  • Aug 18- India's No. 2 IT Services company Infosys Ltd said Vishal Sikka had resigned as managing director and chief executive of the company with immediate effect, sending shares tumbling more than 7 percent in early trading on Friday. The founders, who still own 12.75 percent of the firm, had questioned a pay rise granted to Sikka and the size of severance payouts...

  • *Old Navy sales again a bright spot. Aug 17- Clothing retailer Gap Inc reported better-than-expected second-quarter results and raised its full-year profit forecast, helped by strong demand for Old Navy products, fewer discounts and better managing inventory. Gap's same-store sales increased 1 percent in the three months ended July 29, rising for the third...

  • The company forecast fourth-quarter adjusted profit of 86- 94 cents per share and net sales of $3.85 billion to $4 billion. Analysts on average had expected a fourth-quarter profit of 82 cents and revenue of $3.71 billion, according to Thomson Reuters I/B/E/S. Net income rose to $925 million, or 85 cents per share, in the third quarter ended July 30, from $505...

  • NEW YORK— U.S. stocks plunged Thursday as losses for Cisco Systems hurt technology companies while Wal-Mart declined after its latest quarterly report. The Standard& Poor's 500 index dropped 38.10 points, or 1.5 percent, to 2,430.01, its lowest close since July 11. The Russell 2000 index of smaller-company stocks fell 24.59 points, or 1.8 percent, to 1,358.94.

  • TORONTO, Aug 17- Canada's main stock index edged higher on Thursday, as declines in mining stocks partly offset gains for several heavyweight banks and a jump in shares of Valeant Pharmaceuticals International Inc.. Valeant climbed 4.1 percent to C $18.63 after the company said it had resolved the concerns of U.S. authorities about its Bausch+ Lomb facility in...

  • The Jordan- based firm, which makes and markets branded and non-branded generic and injectable drugs, said it now expected 2017 revenue to be about $2 billion, at the lower end of its previous forecast of $2 billion- $2.1 billion. The company had already cut its full-year guidance in May to the range of $2 billion- $2.1 billion at constant currency from $2.2 billion.

  • CHICAGO, Aug 17- Wal-Mart Stores Inc on Thursday reported lower quarterly margins after it cut prices and invested heavily on expanding its e-commerce operations, and its shares fell nearly 3 percent. Net income attributable to Wal-Mart fell 23 percent to $2.9 billion, or 96 per cents per share, from $3.7 billion, or $1.21 per share, a year earlier due to a loss from...

  • *Cathay sees smaller drop in ticket prices in second half of year. SINGAPORE, Aug 17- Cathay Pacific Airways Ltd shares rose as much as 6 percent on Thursday, as analysts said they believed losses had bottomed for the Hong Kong airline after it reported its worst first-half result in at least two decades. "We see some bottom out effect in some routes in terms of lower...

  • SHANGHAI, Aug 17- Hong Kong shares closed slightly down on Thursday as profit-taking outweighed solid gains by gaming and social media firm Tencent after the company posted better-than-expected quarterly earnings. A pattern of market gains propelled by strong corporate earnings followed by gradual corrections will likely continue for the next one or two...