UBS Remains Bullish as Morgan Stanley (MS) Provides Clarity on FICC Business Restructuring
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Symantec to get $1 billion less cash in sale of Veritas to Carlyle
January 19, 2016 9:22 PM ESTBy Koh Gui Qing
(Reuters) - Antivirus software maker Symantec Corp (NASDAQ: SYMC) said on Tuesday it will receive $1 billion less in cash for its data storage unit Veritas from Carlyle Group LP (NASDAQ: CG), cutting the price of the biggest leveraged buyout of 2015 after debt backing the deal failed to sell.
Citing unspecified "uncertainties" since the deal was struck in August, Symantec said that the purchase price was reduced to $7.4 billion "in a difficult environment" from the $8 billion it originally agreed to in August. Neither Symantec... More
Morgan Stanley looks to move jobs to cheaper cities in bid to cut costs
January 19, 2016 5:26 PM ESTBy Olivia Oran
(Reuters) - Morgan Stanley (NYSE: MS) will be straying ever further from its Wall Street roots in the coming months as it shifts more operations to lower cost cities like Mumbai and Budapest as it aims to slash costs.
The investment bank on Tuesday announced an initiative to cut up to $1 billion by 2017 by using technology and outsourcing jobs now in its New York headquarters and other higher cost cities. However, it declined to give specific details about the number of jobs it would move to lower cost... More
Market Wrap: Netflix Smashes Q4 Expectations; Builder Confidence Firm in Jan.; Merger Tuesday
January 19, 2016 5:25 PM ESTMarket wrap for January 19th
End of the Day: S&P 500 up 1.0 to 27.9; Dow Jones up 27.9 to 16,016.02; Nasdaq down 11.5 to 4,476.95
Market Brief: Markets popped higher Monday after data showed China's growth rate didn't slow more than expected last year. GDP for China was 6.9 percent for 2015 (6.8 percent for Q4), which is the slowest growth seen in the country for 25 years.
Large banks Bank of America and Morgan Stanley reported confidence Q4 results, helping to drive shares higher.
Netflix gained in late trading after... More
Pre-Open Stock Movers 01/19: (RSE) (ZPIN) (SHOP) Higher; (EBIO) (TIF) (MKC) Lower (more...)
January 19, 2016 9:33 AM ESTEleven Biotherapeutics, Inc. (NASDAQ: EBIO) 64% LOWER; announced top-line results from the Phase 3 clinical trial of its lead drug candidate, isunakinra (EBI-005), for the treatment of severe allergic conjunctivitis. In this trial, there were no statistically significant differences between the isunakinra treated group and the vehicle control group on the primary endpoint of ocular itching or on any secondary endpoints. Isunakinra was generally well tolerated, with 94% of the patients completing the trial and there were no serious adverse events reported.
Rouse Properties, Inc. (NYSE:... More
Morgan Stanley (MS) Posts Q4 EPS of $0.39, $0.43 ex. DVA
January 19, 2016 6:56 AM ESTMorgan Stanley (NYSE: MS) reported Q4 EPS of $0.39, $0.06 better than the analyst estimate of $0.33. Revenue for the quarter came in at $7.7 billion versus the consensus estimate of $7.59 billion.
EPS excluding DVA was $0.43.
Compensation expense of $3.7 billion compared with $5.1 billion a year ago.... More
