Stellantis to recall over 38,000 vehicles on potential airbag deployment issues
(This March 20 story has been corrected to say Stellantis (NYSE:STLA), not Chrysler, is recalling vehicles in the headline and paragraph 1)
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Sebi mulls framework for price discovery of investment cos trading below book value
Sebi\’s proposal for a special call-auction mechanism aims to address liquidity issues and improve fair price discovery in Investment Companies and Investment Holding Companies with significant market price-book value gaps.
Earnings call: Marsh McLennan posts strong Q1 growth, bullish on 2024
Marsh McLennan (NYSE: NYSE:MMC) has delivered robust financial results for the first quarter of 2024, with significant growth in underlying revenue across all business segments. The company reported a 9% increase in underlying revenue, an 11% rise in adjusted operating income, and a 14% growth in adjusted EPS. Additionally, Marsh McLennan completed $300 million in share repurchases and made strategic acquisitions to enhance its market position. The firm\’s insurance and reinsurance market conditions remained stable, with rate increases in primary insurance and reinsurance markets meeting the higher demand. Looking ahead, Marsh McLennan forecasts continued mid-single-digit or better underlying revenue growth, margin expansion, and strong adjusted EPS growth for the full year.
Asian stocks tumble on Iran-Israel escalation, rate warnings
Investing.com– Most Asian stocks fell sharply on Friday after reports of Israeli strikes on Iran further ramped up concerns over worsening geopolitical conditions in the Middle East, while persistent warnings on U.S. interest rates also battered sentiment.
Instant view: Oil, Japan's yen up on reports Israeli missiles hit Iran
(Reuters) – Oil and gold prices rose and Japan\’s yen rallied on Friday on reports Israeli missiles have hit a site in Iran.
TSMC's shares slide nearly 7% in Taipei on global chip outlook concerns
TAIPEI (Reuters) -TSMC\’s Taipei-listed shares tumbled 6.7% on Friday following the company\’s first-quarter earnings report in which it dialled back its expectations for chip sector growth and did not revise up its capital spending plans, contrary to expectations.
Nissan cuts annual operating profit estimate by 14.5% on lower sales
TOKYO (Reuters) -Nissan Motor slashed its annual operating profit estimate by 14.5% on Friday, citing lower-than-expected vehicle sales and other factors.
Paramount stock surges on report Sony, Apollo are considering joint bid
Shares of Paramount Global (PARA) jumped 9% in premarket trading Friday on reports that Sony Pictures Entertainment and Apollo Global Management are considering a joint bid for the mass media and entertainment conglomerate.
Jabil falls after placing CEO on paid leave amid internal investigation
Jabil (JBL) saw its shares fall 3% in premarket trading Friday after the electronics components maker said its Chief Executive Officer Kenneth Wilson has been placed on paid leave as of April 15, pending the completion of an investigation into violations of corporate policies.
Wall Street's "fear gauge" at over 5-month high on rate cut, Mideast worries
(Reuters) – Wall Street\’s \”fear gauge\” hit its highest in more than five months on Friday due to a sharp pullback in interest U.S. rate cut expectations and escalating geopolitical tensions.
Ulta stock slips as Jefferies cuts on increased competition
Jefferies analysts lowered their rating on Ulta Beauty (NASDAQ:ULTA) from Buy to Hold, citing “a more cautious view” of mid-single-digit comparable sales growth due to intensifying competition, maturing brand mix, “and a normalizing category.”