Pacific Perspectives

In May, Tesla changed its corporate bylaws in a way that would require investors to own 3% of the stock, today worth about $30 billion, in order to file a derivative lawsuit against the company for breach of fiduciary duties. Authorities in New York State are now asking Tesla to delete the bylaw entirely.… Read More »Tesla’s change in bylaws to limit shareholder lawsuits slammed by New York state officials

Positive progress on two new oil and gas projects and better-than-expected quarterly sales have buoyed takeover target Santos despite a marginal downgrade to full-year production. Santos, the subject of a $36.4 billion takeover bid led by Abu Dhabi National Oil Co, gave no update on the six-week due diligence process… Read More »Santos’ $6.1b gas project on track as investors await bid news

CSL, Wesfarmers and JB Hi-Fi are expected to join a record wave of Australia’s largest companies that are opting to buy back shares on the ASX, as boards become much more risk-averse under a Trump presidency. This year has already recorded 41 companies on the S&P/ASX 200 that have engaged… Read More »These stocks are set to join the ASX buyback boom

The whole “will he, won’t he” pantomime that US President Donald Trump has created around the future of Federal Reserve chairman Jerome Powell is exactly the sort of thing Trump loves. It keeps his enemies on their toes. It serves as a handy distraction from other stuff that might be… Read More »‘Investors wake up!’: Bond king’s dire warning on Trump v Powell

Stock futures were little changed on Thursday after a batch of earnings and economic reports pushed the S&P 500 to a record close. S&P 500 futures traded at the flatline, while Nasdaq 100 futures inched up 0.01%. Futures linked to the Dow Jones Industrial Average added 7 points, or 0.02%. Shares of streaming giant Netflix fell more than… Read More »Stock futures are little changed after earnings, economic data lift S&P 500 to records: Live updates

Check out the companies making headlines in midday trading. Morgan Stanley — Shares fell 3.6% despite the financial institution beating second-quarter estimates. Morgan Stanley earned $2.13 per share and saw $16.79 billion in revenue, while analysts anticipated earnings of $1.96 a share and $16.07 billion in revenue, per LSEG. SolarEdge Technologies – Shares plummeted… Read More »Stocks making the biggest moves midday: Morgan Stanley, ASML, Johnson & Johnson, SolarEdge and more

Fears that the cost of rehabilitating old gas fields and platforms could be higher than accounted for are emerging as a risk to the Abu Dhabi National Oil Company’s $36.4 billion takeover proposal for Santos. The ASX-listed oil and gas giant’s liabilities for the removal of disused wells, pipelines and… Read More »Santos bidders run ruler over billion-dollar rehabilitation costs

Endeavour, the owner of the Dan Murphy’s and BWS chains, has abandoned a key plank of its separation from Woolworths, and the supermarket giant will run its key technology functions until the end of the decade. The hospitality giant was spun out of Woolworths into a standalone ASX-listed company in… Read More »Endeavour delays its technology separation from Woolworths until 2030

Australian shares are set to rebound after Wednesday’s retreat. Shares were higher in New York, recovering from an earlier swoon, after President Donald Trump denied he was poised to fire Federal Reserve chairman Jerome Powell. The S&P 500 slumped early on reports that the president was likely to seek Powell’s… Read More »ASX to rise, CAR Group CEO to exit amid profit warning

Global investors may be underestimating U.S. President Donald Trump’s commitment to follow through on his latest tariff threats, some market watchers have warned. In his latest trade policy update, Trump announced that he would be slapping 30% tariffs on goods imported to the U.S. from the European Union and Mexico from Aug.… Read More »Market watchers warn Trump might not ‘chicken out’ of 30% tariffs on the EU