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Oclaro and Acacia Tumble After US Places Ban on China’s ZTE Corp

Oclaro and Acacia Tumble After US Places Ban on China’s ZTE Corp

April 18, 2018 at 1:18 pm

Shares of Oclaro (OCLR) and Acacia Communications (ACIA) are sharply lower Monday after the US Department of Commerce issued a ban against US companies doing business with Chinese telecom equipment maker ZTE Corp for seven years. The ban was placed on the company for violating the terms of a sanctions violation case, US officials told Reuters. The company pleaded guiltyRead More

Nonfarm Payroll Growth Eases in March But Remains at Healthy Level

April 6, 2018 at 10:14 am

Nonfarm payroll employment growth continued in March with the manufacturing, mining and health care sectors seeing some of the biggest increases in employment while the jobless rate remained unchanged. Some 103,000 roles were added to total nonfarm payroll employment in March compared to 326,000 roles added in February, according to data published by the US Bureau of Labor Statistics. AnalystsRead More

Bond Prices Surge on Payrolls Miss

April 6, 2018 at 10:13 am

US Treasury prices extended gains early Friday on the back of disappointing data with the five-year leading higher while the two- and 10-years chased close behind and the long bond lagged. The March payrolls saw a big miss at 103,000 (consensus: 175,000) along with downward revisions while earnings rose 0.3% in line with expectations and the overall unemployment rate remainedRead More

Ford Recalls 350,000 Pick-Ups, SUVs

April 6, 2018 at 10:13 am

Ford (F) is recalling about 350,000 of its pick-up trucks and Expedition sport-utility vehicles because of a problem with a clip that locks the gear shift cable to the transmission which has been linked to one accident and injury. The Dearborn, Michigan-based automaker said on some of the affected vehicles, a clip that may not be fully seated becomes dislodgedRead More

Orbcomm Prices Public Offering of Common Stock at Discount

April 6, 2018 at 10:12 am

Orbcomm (ORBC), a provider of industrial Internet of Things (IoT) solutions, said Friday it has priced its underwritten public offering of 3 million shares at a price of $8.60 per share, or 7% lower than the share closing price Thursday. Orbcomm has also granted the underwriters a 30-day option to buy up to an additional 450,000 shares. The company isRead More