By Harro Ten Wolde and Ilona Wissenbach FRANKFURT/STUTTGART (Reuters) – SAP’s order pipeline for the second half of the year is “very healthy” and will offset a decline in sales from its packaged software products, which will pose no threat to the company’s full-year operating profit target, its finance chief said. Europe’s largest software company on Tuesday posted worse-than-expected sales of its high-margin packaged software business.
U.S. stocks traded mostly lower as investors weighed some lackluster earnings reports in Dow components.
Gary Ross, the founder of consultants PIRA Energy Group, said oil markets aren’t nearly as oversupplied as many believe and spare capacity is tight since Saudi Arabia is pumping all the crude it can without new drilling. Such views fail to take into account the impact of $50 oil on output outside North America as producers reduce spending, according to Ross.
Apple and Amazon report earnings this week. Estimize’s Kieren Dwyer explains what investors are looking for when they report.
Tesla’s shares fell over 4 percent in premarket trading after UBS analyst Colin Langan cut his rating to “sell” from “neutral”, saying he expects the company’s car sales and home battery sales growth to disappoint. Tesla unveiled Tesla Energy, batteries for use in homes and offices, on May 1 and is estimated to have got more than $800 million worth of orders in the first five days. “However, this pace
Gold was on the brink of five-year lows on Tuesday, with more losses expected in the coming months following Monday’s “bear raid” when sellers dumped an estimated 33 tonnes in just two minutes. Within a further minute, the deals had been completed, sending the most-active U.S. gold futures contract down $48 to as low as $1,080.00 per ounce, its weakest since February 2010. Spot gold stood at $1,104.50 per ounce
WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau ordered Citigroup Inc’s (C.N) consumer bank to pay $700 million in relief to borrowers for what the agency said on Tuesday were illegal …
A new report on child welfare that found more U.S. children living in poverty than before the Great Recession belies the fanfare of the nation’s economic turnaround. Twenty-two percent of American children …
Greece should wrap up bailout talks with international lenders by August 20, once parliament approves the second package of measures demanded by creditors on Wednesday, the government’s spokeswoman said. Prime Minister Alexis Tsipras has faced a revolt in the ruling Syriza party over the mix of tax hikes and spending cuts demanded by lenders but is expected to get the package through parliament with the support of pro-European opposition parties.
By Amanda Cooper LONDON (Reuters) – Oil prices rose on Tuesday, helped by the dollar’s first daily fall in a week, but still faced their biggest monthly drop since March in the face of a global supply …