Oil drop, China data drag Wall Street lower
U.S. stocks fell on Tuesday after soft Chinese trade data rekindled fears that the global economy is weaker than anticipated and a decline in crude prices brought down energy shares.China's February trade performance was far worse than economists had expected, with exports tumbling the most in more than six years. The 16th-straight monthly decline in imports weighed on stocks in the basic materials sector .SPLRCM, which was down 1.7 percent.U.S. crude settled down 3.7 percent in its largest da..>> view originalChevron plans to slash budget to save cash for dividend
NEW YORK Oil and gas major Chevron Corp (CVX.N) will slash its capital budget by as much as 36 percent in 2017 and 2018, a cash-saving bid to preserve its 90-year-old dividend as it copes with crude prices CLc1 near 10-year lows.The outlook on Tuesday highlights the unease permeating the energy industry as executives try to contend with what many are forecasting to be crude prices below $50 per barrel through at the end of the decade. <0#CLCAL:>Wall Street has pressured many oil producers to s..>> view originalFast-growing Allegiant adds 3 new cities, 22 new routes
less Allegiant Air will unveil three new cities and 22 new routes Tuesday in what the company is calling one of its biggest single expansion announcements ever. The new cities joining Allegiant’s route map are Albuquerque, Evansville, Ind., and Santa Rosa, Calif. Allegiant’s first flights from Santa Rosa will start May 19 while its first routes from Albuquerque and Evansville begin June 2. With the three new destinations, Allegiant will serve 114 cities. Beyond the five routes from..>> view originalShareholders Set Sights on Big Target With United Continental Board Fight
Investors PAR Capital Management Inc. and Altimeter Capital Management LP are aiming high with their first activist campaign: United Continental Holdings Inc., the world’s third largest airline. The two investment funds, which together own 7.1% of United’s stock, Tuesday nominated six directors to the airline’s board. In a public letter, they...>> view originalMark Carney Says Brexit Is Biggest Domestic Risk to UK Financial Stability
LONDON—The Bank of England waded into the highly charged debate on the nation’s membership in the European Union, saying the possibility that Britain chooses to leave the bloc represents the biggest domestic risk to the stability of the U.K. financial system. In wide-ranging testimony to lawmakers on the U.K.’s economic relationship with the EU, BOE Gov. Mark Carney said Tuesday that uncertainty surrounding the outcome of the coming referendum on Britain’s future in Europe is being felt in fin..>> view originalWhole Foods teaming with NRG and Solar City to install rooftop solar at 100 stores
Whole Foods Market Inc. is embracing solar power.The Austin, Texas-based grocery chain has signed agreements with SolarCity and NRG Energy Inc. to install rooftop solar units at up to 100 stores and distribution centers. NRG, based in Princeton, N.J., will install the units at up to 84 locations in nine states, according to a joint statement from the two companies.San Mateo, Calif.-based SolarCity will install the rest, Whole Foods spokeswoman Blaire Kniffin said. See more of our top stories ..>> view originalUrban Outfitters 'past the worst' as shares rocket 17%
Shares of Urban Outfitters Inc. URBN, +16.37% skyrocketed 17% on Tuesday after the company blew away quar..>> view originalLumber Liquidators Falls After Tilson Shorts It for Second Time
Lumber Liquidators Holdings Inc. tumbled as much as 9 percent after hedge fund manager Whitney Tilson said that he’s betting against the company for a second time.Tilson, who was Lumber Liquidators’ most vocal critic last year before announcing the end of his short position in December, said he is going after the company again in a presentation. Concerns about the cancer risk of Lumber Liquidators’ products, as well as legal and regulatory liabilities, are likely to cripple the stock, Tilson sa..>> view originalBBB Explains D-Minus Grade for Trump University
Donald Trump's now-defunct university received multiple complaints from students, resulting at one point in a "D-minus" grade from the Better Business Bureau, a business ratings agency, said today. Trump University has been a pointed source of ...>> view originalOclaro shares slide after US export curbs on customer ZTE
March 8 Shares of telecom equipment maker Oclaro Inc fell 17.7 percent - their biggest percentage drop in almost two years - on Tuesday, after the company indicated that its current-quarter revenue could be hurt by the U.S. government's export restrictions on key customer ZTE Corp .The U.S. Commerce Department on Monday imposed restrictions on the Chinese telecommunications equipment maker for alleged Iran sanction violations, a move that experts said is likely to disrupt the company's sprawli..>> view original
Tuesday, March 8, 2016
Oil drop, China data drag Wall Street lower and other top stories.
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