CNBC Utilities Page Wires

  • BOSTON, April 25- Two drugmakers will pay nearly $125 million to settle claims they used charities that help cover Medicare patients' out-of-pocket drug costs as a way to pay kickbacks aimed at encouraging the use of their medications, the U.S. Justice Department said on Thursday. Drug companies are prohibited from subsidizing copayments for patients...

  • April 25- A capital raise for Tesla Inc will not come cheap and Chief Executive Officer Elon Musk must finally prove to investors that he can produce and deliver Model 3 s and higher margin electric cars on time, Wall Street analysts said on Thursday. Seven Wall Street brokerages asked by Reuters said they expected Musk to tap investors for between $1 billion and...

  • In a research note, Robert Stallard, an analyst at Vertical Research, said "there could be some disappointment about the unchanged 2019 guidance. Income from continuing operations jumped to $775 million, or $2.77 per share, in the quarter ended March 31, from $624 million, or $2.20 per share, a year earlier. Analysts on average had expected first-quarter earnings of...

  • April 25- Snapchat parent Snap Inc on Thursday named McDonald's marketing head Kenny Mitchell as its first chief marketing officer, as the company seeks to attract new users to its platform. Prior to his role at McDonald's, Mitchell served as head of consumer engagement at Gatorade. Mitchell, who will lead all consumer and product marketing programs at Snap, will...

  • LONDON, April 25- After the euro's slide to 22- month lows against the dollar, investors are scrambling to shield themselves from more weakness as Europe's poor data contrasts with an upbeat U.S. economy that is sending the dollar surging. On Thursday, the pair traded as low as $1.1117, the lowest since May 2017. "We have been increasingly doubtful that the euro can...

  • BOSTON, April 25- Two drugmakers will pay nearly $125 million to settle claims they used charities that help cover Medicare patients' out-of-pocket drug costs as a way to pay kickbacks aimed at encouraging the use of their medications, the U.S. Justice Department said on Thursday.

  • CHICAGO, April 25- Southwest Co, whose current fleet is made up entirely of Boeing Co 737 aircraft, may not fly only Boeing jets forever, Chief Executive Gary Kelly told CNBC on Thursday.

  • Shares tanked 18.5 percent to C $2.39, and the stock was the top loser on the Toronto Stock Exchange. Montreal- based Bombardier cut its 2019 revenue estimate by $1 billion to $17 billion, while adjusted core earnings are expected to be in the range of $1.50 billion to $1.65 billion, compared with its prior expectation of $1.65 billion to $1.8 billion.

  • The stock was down 18.5 percent at C $2.39 in early trading, making it the biggest loser on the Toronto Stock Exchange, after the company said delays in some large projects hit its dominant transportation unit that makes rail cars.

  • April 25- Lazard Ltd reported a higher-than-expected quarterly profit on Thursday, as its M&A advisory business got a boost from a string of big-ticket deals in the United States, sending its shares up 3.8 percent before the bell. Lazard, often seen as a bellwether for the mergers and acquisitions advisory industry, said revenue in its financial advisory...

  • *Walmart will ensure ASDA has resources to be strong UK retailer. LONDON/ BENTONVILLE, Ark., April 25- Britain's competition regulator on Thursday blocked Sainsbury's proposed 7.3 billion pound takeover of Walmart owned Asda- a huge blow to the supermarket groups who wanted to combine to overtake market leader Tesco. For Walmart, the deal was a way to exit Britain,...

  • *At 9:31 a.m. ET, the Toronto Stock Exchange's S&P/TSX Composite index was down 48.2 points, or 0.29 percent, at 16,538.32.

  • 3 M weighs on Dow@. April 25- The tech-heavy Nasdaq index hit a fresh record at the open on Thursday after strong results from Facebook and Microsoft, while a slump in industrial conglomerate 3 M weighed on the Dow and limited gains on the S&P. The Nasdaq had hit a life-high of 8,139.551 on Wednesday.

  • FRANKFURT, April 25- German hopes of creating a national banking champion able to challenge global competitors were dashed on Thursday when Deutsche Bank and Commerzbank ended merger talks due to the risks of doing a deal, restructuring costs and capital demands. Germany's two largest banks announced that nearly six weeks of high-level negotiations about a...

  • April 25- Comcast Corp reported first-quarter profit on Thursday that beat Wall Street estimates, boosted by strong additions of high-speed internet customers in a quarter that painted another mixed picture for the biggest U.S. cable provider. Philadelphia- based Comcast said it lost 121,000 video customers in the quarter, more than the 29,000 it shed last...

  • Southwest reported first-quarter net profit of $387 million, or 70 cents per share, compared with $463 million, or 79 cents per share, in the year-ago quarter. That beat Wall Street's average estimate of 61 cents per share, according to IBES data from Refinitiv. Total operating revenue at the airline, which launched a service to Hawaii from California last month,...

  • April 25- The tech-heavy Nasdaq index was on course to open at a record high on Thursday after strong results from Facebook and Microsoft, while a slump in shares of industrial conglomerate 3 M weighed on Dow futures. "Facebook and Microsoft are prominent names and you would think that they'd be able to put the market on their shoulders and pull it higher, but 3 M is a...

  • DUBAI, April 25- Samba Financial Group's first quarter net profit fell 7.4 percent year-on-year, Saudi Arabia's third-largest bank by assets said in a statement on Thursday. Samba ranks behind National Commercial Bank and al Rajhi among Saudi banks by total assets. Its chief executive, Rania Nashar, told Reuters earlier this month the bank would increase...

  • NEW YORK, April 25- Cryptocurrency dealer Genesis Global Trading said on Thursday it loaned digital assets valued at $1.53 billion to institutional borrowers in the year since it launched its lending business in March 2018, an indication of demand for the emerging lending market for cryptocurrencies. Genesis' total loans reached $425 million in the first...

  • MOSCOW, April 25- Russian gas producer Gazprom has discussed gas deliveries to China with China National Petroleum Corporation, Gazprom said in a statement on Thursday. The company also said it would start filling the Power of Siberia pipeline with gas in the third quarter. In February, Gazprom said it would start gas supplies to China from Dec. 1.