Market News Flash

Microsoft Acquires Bonsai as Drive Into Artificial Intelligence Deepens

June 20, 2018 at 11:39 pm

Microsoft (MSFT) is acquiring Bonsai, a Berkley, California-based artificial intelligence company that was in the portfolio of the information technology giant’s venture capital fund, M12. Terms of the deal weren’t disclosed by the companies on Wednesday. In a blog post, Microsoft’s Gurdeep Pall, corporate vice president of business AI, said Bonsai’s “novel approach” allows subject matter experts — including thoseRead More

Traders work at the stock exchange in Frankfurt am Main, central Germany, on September 18, 2015. The German blue-chip DAX 30 stocks index fell in mid-morning trade on the Frankfurt stock exchange following the US central bank's decision to hold off hiking interest rates. AFP PHOTO / DPA / FRANK RUMPENHORST   +++  GERMANY OUT +++

Rail Traffic Last Week Rose 4.1% Versus Same Timeframe in 2017

June 20, 2018 at 11:38 pm

Rail traffic, a gauge of the overall economy, rose 4.1% in the seven days that ended on June 16 compared with the same week last year, according to the Association of American Railroads. Total US rail traffic during the week totaled 558,098 carloads and intermodal units, the AAR said. Carloads rose 1.9% to 269,748 while intermodal volume jumped 6.3% fromRead More

Kadant Authorizes $20 Mln Share Buyback Program

Kadant Authorizes $20 Mln Share Buyback Program

May 21, 2018 at 1:23 pm

Kadant (KAI), a provider of engineered systems, said after markets closed on Wednesday that it has authorized the repurchase of up to $20 million of its equity securities effective May 16, through May 16, 2019. Repurchases may be made in public or private transactions. The timing and amount of any repurchases will be at the discretion of company management andRead More

Chegg Logo.  (PRNewsFoto/Chegg)

Chegg Acquires AI-Enhanced Writing Platform

May 21, 2018 at 1:21 pm

Chegg (CHGG), a student-first connected learning platform, said late Wednesday that it has acquired WriteLab, Inc., an AI-enhanced writing platform that teaches students grammar, sentence structure, writing style, and offers instant feedback to help students revise, edit, and improve their written work. The company acquired WriteLab for $15 million, in an all cash transaction. An additional payment of $5 millionRead More

Ford Motor Company Sees Q2 EPS Impact of $0.12-$0.14

Ford Motor Company Sees Q2 EPS Impact of $0.12-$0.14

May 21, 2018 at 1:17 pm

Ford Motor Company (F) affirmed its outlook for 2018 earnings of $1.45 to $1.70 per share while saying there will be an impact of $0.12 to $0.14 a share in Q2 due to lost production. The car maker plans to resume F-150 production at its Dearborn Truck Plant on Friday after a fire May 2 at the Meridian Magnesium ProductsRead More

Summit Materials Posts Q1 Loss in Line With Street Estimate

Summit Materials Posts Q1 Loss in Line With Street Estimate

May 11, 2018 at 9:59 pm

Summit Materials (SUM), a construction materials company, reported a Q1 adjusted loss of $0.59 per share, wider than the loss of $0.49 in the same period a year ago but in line with the loss expected by analysts polled by Capital IQ. Total revenue of $314.4 million was up from $284.3 million in the same period a year ago andRead More

Apartment Investment and Management Q1 Funds From Operations Meets Street View

Apartment Investment and Management Q1 Funds From Operations Meets Street View

May 11, 2018 at 9:57 pm

Apartment Investment and Management (AIV), a real estate investment trust, reported late Monday Q1 funds from operations of $0.60 compared with $0.58 a year earlier which matched the average analyst estimate provided by Capital IQ. Revenue was $244.2 million compared with $243.8 million a year earlier. That was just above the $243.8 million analyst consensus. For Q2, the company expectsRead More