Investing.com — Deutsche Bank upgraded CVS Health Corp’s (NYSE:CVS) stock to “buy” from “hold” on Tuesday, saying the company’s earnings and valuation are likely at trough levels as it implements measures to improve profitability. The analysts highlighted a potential turnaround in CVS’s managed care organization (MCO) segment, which includes its health insurance business. They noted that…
(Reuters) -Humana Inc said on Tuesday that Chief Financial Officer Susan Diamond was stepping down and Celeste Mellet would replace her, effective Jan. 11. The CFO change comes as the health insurer struggles to manage its medical costs related to its large business of Medicare Advantage insurance plans, which led the company to withdraw its…
(Reuters) – European shares opened higher on Tuesday, led by the tech and basic resources sectors, with investors on tenterhooks ahead of the outcome of France’s political instability this week as the likelihood of the government’s collapse has rocked the country’s markets. The pan-European STOXX 600 rose 0.2%, with the technology and basic resources sectors…
By Angelo Amante and Giuseppe Fonte ROME (Reuters) -Italy’s government is ready to use its special vetting powers if UniCredit’s proposed takeover of smaller rival Banco BPM goes against the national interest, the prime minister said on Monday. UniCredit’s bid risks scuppering the government’s plans to form a third strong banking player alongside Intesa Sanpaolo…
ANKARA (Reuters) – A Turkish court has jailed pending trial nine protesters who disrupted President Tayyip Erdogan’s speech in Istanbul last week, accusing his government of continuing oil exports to Israel despite a publicised embargo. The incident occurred during Erdogan’s televised address at a forum on Friday, where the protesters said the government was failing…
Investing.com — The S&P 500’s valuation has surged significantly in recent years, driven by a rise in forward earnings and fading recession fears. According to Yardeni Research, the index’s price-to-earnings (P/E) multiple recently hit 22.3, marking a 45.8% surge since its October 2022 low of 15.3, bolstered in part by a 15.5% jump in the…
(Corrects paragraph 3 to show the curbs began to roll out last year (not announced at the beginning of last year)) BEIJING (Reuters) -China will ban exports of “dual-use items” related to gallium, germanium, antimony and superhard materials to the U.S. with immediate effect, its commerce ministry said on Tuesday, a day after Washington’s latest…
By Giulio Piovaccari and Alessandro Parodi MILAN (Reuters) -Outgoing CEO Carlos Tavares clashed with Stellantis (NYSE:STLA)’ board over his plans to quickly turn around the ailing U.S. business by cutting costs, rather than focusing on long-term strategy, investors and bankers familiar with the matter said on Monday. Shares in the Jeep, Fiat (BIT:STLAM) and Peugeot…
CANBERRA/SYDNEY (Reuters) – China has lifted trade restrictions on two Australian meat processing facilities, allowing the full resumption of red meat exports to the country, the Australian government said on Tuesday. Beijing has now removed restrictions from all 10 Australian abattoirs it banned between 2020 and 2022. The bans were imposed around the time that…
(Reuters) – U.S. oil major Exxon Mobil Corp (NYSE:XOM) is weighing a sale of its petrol stations in Singapore, a deal that could raise about $1 billion, Bloomberg News reported on Tuesday, citing sources. Exxon operates 59 petrol stations in Singapore under its Esso brand, according to Esso’s website. A sale would allow Exxon to…
