JnJ beats Q2 2017 EPS estimates, raises FY17 outlook

Aided by a 4.4% increase in global sales, the medical devices & pharmaceutical company Johnson & Johnson (NYSE: JNJ) reported a better than anticipated fiscal 2017 second-quarter earnings. However, the revenue came below the Wall Street estimates. Thus, the stock

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Euro up on rising demand for Euro-denominated assets

In our July 10 report, we had forecasted the EUR/CAD pair to decline to 1.4460 levels. We had also mentioned our interest to open a short position in the currency market at 1.4680. Additionally, we had also expressed our desire

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Infosys beats Q1 estimates, raises FY18 growth view

On the last day of June, India’s second largest software technology company Infosys Ltd (NYSE: INFY) reported its results for the first-quarter ended June. At a time when Gartner has cautioned a decline in software spending across the globe, Infy

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Greenback turns weak on large trade deficit

Unexpected economic contraction in the first quarter of 2017 and junk status of the foreign currency denominated bonds weakened the South African Rand against the Greenback in June. The US dollar also got a boost from the Fed rate hike

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Elliot Management Makes Counter Bid Against Berkshire Hathaway

Hedge fund Elliott Management Corp has made a counterbid besting Berkshire Hathaway Inc's offer of $9 billion offer to acquire Energy Future Holdings, the bankrupt Texas power utility. Elliot which is the biggest creditor to Energy Future published details of

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Positive job, PMI data strengthens Canadian dollar

On the basis of a decline in the Eurozone current account surplus and an upbeat sales data reported by Statistics Canada June 23, we had forecasted the EUR/CAD pair to decline from a level of 1.4840. We had also stated

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Aussie turns bearish on less hawkish statement by RBA

The unanticipated outcome of the UK election, which resulted in a hung parliament, and the dominance of the EU members over the UK on the Brexit issue took a toll on the Pound in early June. The increasing immunity of

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Wells Fargo faces investigation over mortgage practices

Barely three months before, Wells Fargo & Company (NYSE: WFC) agreed to pay $110 million to settle the lawsuit related to unauthorized accounts scandal. However, the stock did not decline much due to the Trump rally and the US Fed

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Experts Say Bitcoin Mining…The Next Forex Scam?

Industry experts are sounding an alarm over the possibility that bitcoin mining may soon become the next forex scam. Several instances of forex scams have been reported worldwide where unscrupulous traders encourage inexperienced individuals to trade in the foreign exchange

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