Friday, February 8, 2019
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WHAT TO WATCH
There are no major economic reports scheduled for release today.
The most notable earnings reports before market open include manufacturing company Arconic (ARNC), beauty company Coty (COTY) and toy giant Hasbro (HAS).
TOP NEWS
Bezos’s blackmail charge intensifies war with Trump: A long-simmering feud between Donald Trump and Jeff Bezos took a bizarre turn after the multibillionaire accused allies of the president of brazenly trying to extort him. The Amazon.com Inc. founder and chief executive officer published a blog post on Thursday, alleging that the publisher of the National Enquirer tried to blackmail him with embarrassing photos of Bezos and a woman who wasn’t his wife — including sexually charged selfies. [Bloomberg]
Bankruptcy judge approves sale of Sears to Lampert: A U.S. bankruptcy judge on Thursday approved Sears Holdings Corp Chairman Edward Lampert's $5.2 billion takeover of the beleaguered retailer, allowing the department store chain to avert liquidation and preserve tens of thousands of jobs. [Reuters]
Food delivery pioneer Postmates files to go public: Postmates Inc. has filed for an initial public offering, joining a queue of app-driven companies ramping up to go public this year. The size and price range for the proposed offering haven’t been determined, the company said. [Bloomberg]
BB&T, SunTrust merger could spur domino effect of bank M&A: On Thursday, BB&T (BBT) and SunTrust (STI) announced that they would be forming the sixth-largest bank in the United States by joining in a merger of equals. The $66 billion deal could be the first domino to fall in a wave of M&A deals, as banks of all sizes race to build scale in an increasingly competitive space. [Yahoo Finance]
Sony stock jumps after first-ever share buyback : Sony Corp announced its first-ever major share buyback on Friday, worth 100 billion yen ($910 million), helping its stock recover from a hammering days earlier when investors freaked over lackluster earnings. [Reuters]
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