Channel 7 Videos
GE's Formal Offer for Alstom a Win With Board, Less So With French Government
GE's $17 billion bid for Alstom's energy business win's over the French company's board, but Alstom leaves door open for counter offer from Germany's Siemens, and keeps a wary eye on the politicians. Alstom's share rises, but market dragged down by BNP-Paribas, which could face criminal proceedings in the U.S. for sanctions busting. Royal Dutch Shell rises on better than expected results and Rolls-Royce on talks of a $1.7 billion sale of assets. Eurozone inflation disappoints.
Carney Says President Agrees With Sterling Ban
White House Press Secretary Jay Carney said President Barack Obama agreed with the NBA's ban of Donald Sterling, calling it "the right thing." (April 30)
Smoke Plume Rising After Train Derailment in Lynchburg
A freight train derailed in downtown Lynchburg, Virginia, and caught fire on Wednesday, April 30. There have been no casualties reported. This video shows a plume of thick smoke rising into the sky, as seen from the opposite side of the James River. Credit: Stetson Jenkins via Facebook
Federal Reserve Walks Back Boosting Rates Soon, Calms Market Jitters
The Federal Reserve announces Wednesday that it will hold main interest rates for a considerable time after the end of quantitative easing. Wells Fargo Advantage Funds senior portfolio manager Ann Miletti tells TheStreet's Joe Deaux that the Fed simply is trying to remind investors that the central bank is trying to be careful, and is not going to raise rates too quickly. The central bank also continued to curb its economic stimulus program to $45 billion in asset purchases a month.
Weight Watchers Earnings Beat Estimates Despite Stiff Competition
Weight Watchers announced earnings on Wednesday with a bit of a surprise for investors. Analysts were expecting earnings of $0.09 a share on $399.2 million in revenues, but Weight Watchers delivered earnings of $0.38 a share on $409.4 million in revenues. CEO Jim Chambers stated that 2014 would be a tough year for the company and he's right. The weight loss company faces competition from diet apps and calorie-counting gadgets from competitors like Nutrisystem.
Yelp Shares Pop on Less Than Expected Q1 Loss, Revenue Beat
Yelp on Wednesday reported earnings of loss of $0.04 a share on $76.4 million in revenues. This beat analyst estimates that included a loss of $0.06 a share on $75.06 million in revenues. Companies in the online ads business like Yelp have stated that the immediate focus of the industry is all about monetizing mobile ads. Growth in local ads is the key growth driver for Yelp. Yelp Investors should remain encouraged by the Yelp's international expansions.
Sports break - May 1
Nathan Buckley believe Dale Thomas will be under pressure ahead of tomorrow night's match; Goddard to return from injury; Jared Waerea-Hargreaves didn't even get a phone call to inform him of his sacking; Brisbane ready for match against West Sydney; dog causes chaos during university softball game.
Markets Higher As Fed Winds Back, Investors Shrug Off Poor GDP
Markets closed higher after the Federal Reserve cut bonds purchases by another $10 billion as expected, citing an improvement in economic momentum. Investors shrugged off a poor result for first quarter GDP of just 0.1% on poor weather, while private payrolls beat expectations. Monthly April payrolls are due Friday. Pepco jumped after Exelon agreed to buy it while Twitter and eBay slumped after disappointing results late Wednesday. Jane Searle speaks to Keith Bliss at the NYSE.
WebMD Delivers Healthy Quarterly Earnings Topping Analysts’ Estimates
On Wednesday, WebMD announced quarterly results, and analysts were looking for earnings of $0.11 a share on $132.36 million in revenues. Instead, it reported earnings of $0.15 a share on $133.8 million in revenues. Investors are always looking for stocks that are poised to beat at earnings season and Health Information Services WebMD is one of those companies. WebMD's first quarter results reflect momentum across their business, driven by increased adoption of its multi-screen offerings.
Markets outlook - May 1
Morning markets wrap; CommSec's Craig James balances the budget himself with a simple solution.