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GE nears $20 billion deal to sell transportation unit to Wabtec: reportExternal Link

General Electric Co. is close to a deal to sell its transportation business, which makes locomotives, to railroad equipment-maker Wabtec Corp. , Reuters reported Sunday. The deal, which may be announced later this week, could be valued at more than $20 billion, Reuters reported. New GE Chief Executive John Flannery has been looking to cut costs, and the deal would be the biggest since he took over last August. Shares of GE, which is a Dow Jones Industrial Average component, are down 14% year to date, and down 47% over the past year, compared to the Dow's 0.2% loss this year and 19% gain over the past 12 months. Wabtec shares are up 17% this year and up 16% in the past year.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Mon, 21 May 2018 01:32:17 GMT
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Donald Trump Jr. met in August 2016 with Mideast contingent offering help in election: N.Y. TimesExternal Link

Private security entrepreneur Erik Prince, who headed the military contractor formerly known as Blackwater and is the brother of Education Secretary Betsy DeVos, arranged a Trump Tower meeting in August 2016 bringing together an Israeli specialist in social-media manipulation, an emissary for Saudi and United Arab Emirates crown princes, and Donald Trump Jr., according to a Saturday report from the New York Times. The emissary, George Nader, according to the Times, told the then-candidate's son that they were interesting in helping his father win the presidential election that November, while the social-media expert, named by the Times as Joel Zamel, apparently pitched his company's plan to manipulate social media in service of the Trump campaign. The Times cited an unnamed person characterized as possessing knowledge of the meeting as saying Trump Jr. responded positively. The Times said it was unclear whether such a social-media plan was carried out. Nader, it said, went on to meet frequently with Jared Kushner, the now-president's son-in-law, and with Trump ally and eventual national-security adviser Michael Flynn. Zamel, according to the report, was paid as much as $2 million by Nader -- who has been reported to be cooperating with special counsel Robert Mueller's investigation into Russian influence in the 2016 campaign -- after the U.S. presidential election.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Sat, 19 May 2018 18:36:22 GMT
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Utilities services company Charah Solutions files for an IPOExternal Link

Charah Solutions Inc. of Louisville, Ky., has filed for an initial public offering. Charah, which offers environmental and maintenance services to coal-fired and nuclear power plants, seeks to raise $100 million, according to a filing late Friday, although that figure could be a placeholder. The stock would trade on the New York Stock Exchange under the symbol CHRA. The company listed revenue of $430 million and profit of $13 million in 2017. First-quarter revenue and net income reached $155.5 million and $1.2 million, the company said. "Coal and nuclear power generation combined are expected to remain indispensible energy sources for decades," Charah said. Morgan Stanley, Stifel, and BofA Merrill Lynch are among the underwriters.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 18 May 2018 21:50:47 GMT
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GS Acquisition Holdings files for initial public offeringExternal Link

GS Acquisition Holdings Corp. is looking to raise up to $690 million in an initial public offering, according to a Securities and Exchange Commission filing late Friday. The "blank check" company, sponsored by Goldman Sachs Group Inc. and headed by former Honeywell chief David Cote, was formed for "effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses" in the industrial sector. Goldman Sachs and Deutsche Bank are managing the offering, which intends to price 60 million units at $10 apiece, with an additional 9 million to underwriters to cover overallotments.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 18 May 2018 20:36:53 GMT
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U.S. stocks close lower, book weekly lossesExternal Link

U.S. stocks closed mostly lower on Friday, with major indexes posting modest weekly declines as investors grappled with lingering uncertainty over trade negotiations between the U.S. and China, as well as bond yields that climbed this week to the highest level since 2011. The Dow Jones Industrial Average closed nearly unchanged at 24,715.09, leaving it with a 0.5% weekly loss. The S&P 500 index fell 7.15 points, or 0.3% to 2,712.98 and ended the week 0.5% lower. Meanwhile the Nasdaq Composite declined 28.13 points, or 0.4% to 7,354.34 and fell 0.7% over the week. The Russell 2000 index of small-capitalization stocks rose 2.8 points, or 0.2%, to 1,628.12, a third record close in a row. For the week, the index rose 1.3%. Among the worst performers on the S&P 500, Campbell Soup Company shares plunged 12% after the company reported quarterly result and cut its full-year outlook.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 18 May 2018 20:05:54 GMT
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