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Genuine Parts Slide on Full-Year Earnings Outlook Cut

Genuine Parts (GPC) fell after the auto-parts distributor revised its earnings and sales guidance following second-quarter results that were below expectations. The outlook revision came a month after Atlanta-based company completed its acquisitions of The Netherlands-based PartsPoint Group and Australia-headquartered Inenco Group. Both companies are parts distributors in their regions, […]

New York Business Activity Picks Up Pace in July

Business activity in New York, which has the third-biggest economy among the US states after California and Texas, posted a stronger-than-expected gain in July’s Empire State Manufacturing Survey that pushed the measure into positive territory. The print from the Federal Reserve Bank of New York rose 13 points to 4.3, […]

Alibaba Unveils Guidance as Fourth-Quarter Revenue, Earnings Beat Expectations

Chinese e-commerce company Alibaba (BABA) unveiled fresh guidance on Wednesday as it posted better-than-expected results for its fiscal fourth quarter, bolstered by rising numbers of consumers from less developed cities in Asia. The Hangzhou-headquartered company, founded in 1999 by a team led by former English teacher Jack Ma, generated RMB […]

Bond Price Rally Resumes as Trade Concerns Reignite; China Data Weak

US Treasury prices rallied behind European bonds as risk-off trading resumed Wednesday after the US-China trade complications returned to center stage. Global bonds pushed higher as a run of weak Chinese economic data hit overnight, but prices backed off the highest levels. Europe was leading with the UK Gilt yield […]

Intel Rolls Out Patch to Fix ZombieLoad Exploit

Intel (INTC) has released a patch for the ZombieLoad vulnerability, which affects almost every computer powered by one of the company’s chips as far back as 2011, according to media reports on Tuesday. If exploited, ZombieLoad will allow hackers to steal sensitive information directly from processors. Intel said ZombieLoad is […]