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Amazon Ankur Banerjee AWS Business spending 

Amazon’s big profit miss spooks investors, but analysts stay bullish

July 28, 2017 By Sweta Singh and Ankur Banerjee (Reuters) – A steeper-than-expected drop in quarterly profit rattled some investors, but Wall Street analysts remained largely bullish about the company’s aggressive spending plans. Shares of the e-commerce juggernaut, which have risen 40 percent this year, were down 4.3 percent at $1,001 in early trading on Friday, wiping out $21 billion from its market value. The stock touched a record high on Thursday, helping CEO Jeff Bezos briefly unseat Microsoft Inc co-founder Bill Gates as the world’s richest person. “The…

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Ankur Banerjee Bengaluru Editing Business Commerce Department Sycamore Partners 

Stock futures flat ahead of GDP data

June 29, 2017 By Ankur Banerjee (Reuters) – U.S. stock index futures were little changed on Thursday, a day after the benchmark S&P 500 index scored its biggest one-day percentage gain in about two months, as investors awaited GDP and jobs data. Wall Street stock rallied sharply on Wednesday as financial and technology stocks led a broad market rebound. Shares of the top six U.S. banks rose in premarket trading on Thursday, a day after the Federal Reserve approved the banks’ plans to raise dividend payouts and share buybacks under…

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Thermo Fisher to buy Patheon for about $5.2 billion

May 15, 2017 (Reuters) – Thermo Fisher Scientific Inc , the world’s largest maker of scientific instruments, said on Monday it would buy contract manufacturing company Patheon NV for about $5.2 billion in cash. Thermo Fisher’s offer of $35 per share represents a premium of about 35 percent to Patheon’s Friday close. The deal represents a purchase price of about $7.2 billion, which includes the assumption of about $2.0 billion of net debt, the companies said in a statement. (Reporting by Ankur Banerjee in Bengaluru; Editing by Shounak Dasgupta) The…

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Valeant swings to profit on tax gain, raises forecast

May 9, 2017 By Ankur Banerjee (Reuters) – Canada’s Valeant Pharmaceuticals International Inc reported its first profit in six quarters, helped by a one-time tax gain, and raised its full-year earnings forecast, sending its U.S. shares up 13 percent in premarket trading. Laval, Quebec-based Valeant has been trying to rebuild its business and regain investor confidence after the company came under investigations over its accounting and pricing practices. The company said it now expects 2017 adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of $3.60-$3.75 billion, up from its…

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Eli Lilly’s profit beats on demand for new drugs

April 25, 2017 By Ankur Banerjee (Reuters) – Eli Lilly and Co reported a bigger-than-expected quarterly adjusted profit as sales of its newest products, including a diabetes injection, more than doubled. The Indianapolis-based drugmaker reported strong first-quarter demand for its Trulicity diabetes treatment and its psoriasis drug, Taltz, as well as its Cyramza lung cancer treatment. “Lilly’s new product launches, including Trulicity and Taltz, led the company to a strong quarter of volume-driven revenue growth,” David Ricks, who took over as chief executive on Jan. 1, said in a statement….

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