Honeywell’s stock turns lower after SEC accounting investigation disclosed

Honeywell’s stock turns lower after SEC accounting investigation disclosed
Shares of Honeywell International Inc. HON, -0.48% took an afternoon dive Friday, after the company disclosed that the Securities and Exchange Commission had opened an investigation into its accounting practices. The stock fell 0.7% in recent trade, after being up as much as 1.6% intraday after the diversified industrial company beat third-quarter earnings expectations. Honeywell said in its quarterly 10-Q... Read More

Cleveland-Cliffs CEO slams Goldman Sachs analyst on earnings call; ‘You are a disaster’

Cleveland-Cliffs CEO slams Goldman Sachs analyst on earnings call; ‘You are a disaster’
The chief executive of mining and resources company Cleveland-Cliffs Inc. CLF, -5.97% slammed a Goldman Sachs analyst on the company’s earnings call earlier Friday, accusing him of failing to understand numbers. “You don’t understand your own business. You are a disaster. You are an embarrassment to your parents,” Lourenco Goncalves said in response to a question from another analyst on... Read More

NuVasive’s stock tumble on CEO departure presents buying opportunity, analyst says

NuVasive’s stock tumble on CEO departure presents buying opportunity, analyst says
Shares of NuVasive Inc. NUVA, -9.34% tumbled 9.1% in midday trade, after the spine technology company’s announcement that it was replacing its chief executive. Since NuVasive didn’t reiterated its 2018 financial guidance, Needham analyst Mike Matson suggested the big selloff is a result of investors assuming the company misses or lowers its outlook. While Matson doesn’t rule out a warning,... Read More

Mnuchin still plans to attend Saudi anti-terror financing meeting: report

Mnuchin still plans to attend Saudi anti-terror financing meeting: report
Treasury Secretary Steven Mnuchin has decided to take part in an anti-terror finance meeting with Saudi security officials and their Middle Eastern counterparts in Riyadh later this month, the Washington Post reported Friday. Mnuchin is opting to attend despite growing global outrage over the suspected murder of U.S.-based journalist Jamal Khashoggi at the hands of Saudi operatives, the Post said,... Read More

Italian bond yields retreat after EU Commissioner softens budget criticism

Italian bond yields retreat after EU Commissioner softens budget criticism
The Italian government bond market rebounded, pulling down yields, after Pierre Moscovici, European commissioner for economic and financial affairs, appeared to soften criticism of Italy’s draft budget, giving some relief to concerns of a standoff between Rome and Brussels. The 10-year Italian government bond yield TMBMKIT-10Y, -3.17% fell 9.5 basis points to 3.575%, narrowing the yield spread against the German... Read More

Controversy builds over potent new opioid medication as U.S. senator calls on FDA to reject the drug

Controversy builds over potent new opioid medication as U.S. senator calls on FDA to reject the drug
A new, potent opioid medication intended for immediate pain relief has become the center of a maelstrom of controversy as it nears a Food and Drug Administration approval decision early next month. The latest salvo came from Sen. Edward Markey (D-Mass.) on Thursday, calling on the FDA to reject the medication as it is “a thousand times more likely to... Read More

The9’s stock rockets 5-fold on heavy volume after disclosing large investor stake

The9’s stock rockets 5-fold on heavy volume after disclosing large investor stake
Shares of The9 Ltd. NCTY, +17.16% rocketed over 5-fold, up 406%, in very active premarket trade Friday, after the Shanghai-based mobile games developer disclosed that Jie Qin has taken a 9 million share, or 7.4% stake, in the company. Volume spiked to over 1.9 million shares ahead of the open, compared with the full-day average of about 136,000 shares. The... Read More