Celator Pharmaceuticals shares jumped more than 400% in Tuesday trading. Meanwhile, hedge fund manager Steve Cohen unvelied his 8.3% shares of the company.
Industry
Plunge of Valeant Shares Made Bill Ackman to Lose $1 Billion
A huge slump in Valeant Pharmaceutical stocks on Tuesday made Pershing Capital to lose more than $1 billion in one day. Meanwhile Bill Ackman planned to take more active role in the drugmaker.
FedEx Said Amazon Needs Tens of Billions of Dollars and Years to Compete With The Company's Network
FedEx said in a statement that “a new entity competing” with the company will have to spend tens of billions of dollars to replicate its current extensive network. The statement, referring to Amazon’s new plan to get into the logistic business, also assured that FedEx’s relationship with Amazon remain strong.
McKesson dismisses 1,600 staffs from US office to preserve its cash level
McKesson is terminating 1,600 staffs from its US division in an effort to trim expenses after some important customers left the company.
Uniform Law For Driverless Cars: Manufacturers Urge Promulgation, Lawmakers Opts For More Scrutiny
Executives of all pioneer manufacturers have called for promulgation of uniform federal law ahead of a hearing of the Senate Commerce Committee on Tuesday. Several states in the US have enacted own law prohibiting the driverless cars which has been cited as the reason for their advocacy. However, lawmakers and analysts prefer more scrutiny before initiating a uniform law.
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Sources believe that Apple is trying to enhance its security for iCloud amid the legal dispute with the FBI. However, the tech giant will have its challenges to ensure security while retaining users convenience. Reports also said that the company has moved some of its iCloud services to Google servers.
Series of bankruptcy decisions indicates the decaying market stake of coal industry and Peabody appears as the latest to file chapter 11 with the New York Stock Exchange. Many coal mining companies are still operating with profits. So warning of bankruptcy by the world’s largest private coal miner doesn’t indicate possible extinction of the coal industry.
Two of the most prominent European stock exchange, Frankfurt and London has agreed to merge on Wednesday. The merger between them will create a new European trading powerhouse.
Crytek’s new VR-enabled game development engine, the CryEngine V, will be available for a price that “feels comfortable” in the company’s new “Pay What You Want” business model. Users can buy resources from the engine’s new Marketplace system and also choose to contribute to the company’s new program to help indie projects around the world.
The self-lacing shoe technology finally arrives, as Nike announced its newest adaptive lacing technology. The HyperAdapt 1.0 will be available for Nike+ members later this year.
Chipotle is considering to improve certain food safety measures, which the company recently introduced after outbreaks of E.Coli pushed Chipotle's balance sheet into a gloomy condition. Chipotle recently changed its cooking methodology by precooking the beef outside its own restaurants.
3D Systems Stock Records Highest One Day Gain In Five Years Indicating Surge In 3D Printing Industry
3D Systems has disclosed its earning scenario which has off beat analysts’ predictions through several parameters. Following disclosure of the earnings report, prices of the printer manufacturer’s share have been witnessed to gain 26.3%, which is the highest single day gain during the last five years.
The strengthening of Yen is eroding the value of Japan's exports to the US. Its overall exports volume was flat, while the value declined over four percent owing to rising Yen.
New Zealand's economy growth rate was higher than the forecasts for last quarter of 2015. Led by business services, retail, accommodation and construction sectors, the country's gross domestic product (GDP) surpassed the forecasts made by Reuters and Reserve Bank. But, the overall growth eased to 2.3 percent in 2015 from 4.1 percent in 2014.
