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Home / Business / Glitch interrupts the trade; Mylan disappoints; Ocado's tech focus

Glitch interrupts the trade; Mylan disappoints; Ocado's tech focus



CME Group ( CME ) which is based in Chicago, said in a statement that the trade was stopped at 18:39. CT. Trading resumed at 21:45. CT after the technical problem has been identified and solved.

The default affected the CME Globex platform, an electronic trading system for futures and options. The platform enables trading in stocks, interest rates, foreign exchange, commodities and other asset classes.

The CME Group statement did not specify the technical issues that caused the failure.

. 2 Spotify in India: Spotify ( SPOT ) was launched in India after music fans had to wait nearly a year.

Indian users can now download the Spotify app and access more than 40 million songs, according to the streaming company. Spotify Premium, its subscription-free subscription service, costs $ 1

19 (US $ 1.65) per month, a fraction of the $ 9.99 in the United States.

The company is tracking half of the world's internet users in India. A recent boom in the sale of smartphones and cheap mobile data tariffs has pulled the biggest players in Silicon Valley into the country. Google () Facebook [ FB ) Amazon ] AMZN ) and Netflix [194559002] NFLX ) spent billions of dollars to expand their Indian businesses
] Apple ( AAPL ) and Amazon, as well as local services such as Gaana and JioSaavn.
3. Mylan disappointed: shares of Mylan [194559002] ( MYL ) plummeted in the pre-market trade by nearly 10% after the generics maker made gains for had reported the fourth quarter in which Wall Street estimates were missing.

The company also issued a forecast for 2019 that was well below analyst expectations.

Hylie Bresch, CEO of Mylan, said she was confident for the coming year.

"By leveraging the diversification of our commercial, operational and scientific platforms, we feel incredibly positive about our ability to deliver strong financial performance in 2019," she said in a statement.

4. Ocado Delivers: Retailer Marks and Spencer ( MAKSF ) pays up to £ 750 million (US $ 996 million) for 50% of Ocado's OCDGF British Retail Store.
The deal solves a problem for M & S and ensures that its products can now be delivered to UK consumers who respond to home delivery. Ocado can use the money to invest in its technology business. The company is increasingly focusing on licensing its robotic storage technology for other retailers and has already done business with Kroger ( KR ) in the United States and Casino completed] ( CGUSY ) in France.

Tim Steiner, CEO of Ocado, said the deal would create a "stronger platform from which to develop and develop our unique and proprietary technology."

Ocado shares gained 1% on Wednesday. The stock has already risen by almost 27% this year. M & S shares fell almost 9% in London. M & S said it would finance the deal by cutting its dividend by 40% and issuing new shares worth up to £ 600m.

Watch the CNN Business's "Markets Now" digital live show at 12:45. ET
5. World Market Survey: US equity futures were slightly lower.
The European markets were opened with losses of less than 1%. Asian equities closed.
The Dow lost 0.1% on Tuesday. The S & P 500 fell 0.1% and the Nasdaq 0.1%.
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6. Revenue and Economy: Best Buy ( BBY ) Campbell Soup ( CPB [19659013] Lowe's LOW ) and Sinclair Broadcast ( SBGI ) will release the result before the opening
Boingo Wireless ( WIFI ) Fitbit (19459004] FIT ) Hostess Brands [ ) L Brands ( LB ) Monster Beverage ( MNST ) Square ( SQ ) follow after the trading deadline.

Federal Reserve President Jerome Powell will forward his biannual monetary policy report to the House Financial Services Committee.

Seventh Week:
Wednesday – Lowes [ LOW ) Best Buy ( BBY and Campbell Soup ( CPB ) Revenue, Powell Appears before House Financial Services Committee
Thursday – GDP Review, JCPenney JCP ) PG & E ( PCG ) Gap ( GPS ) Nordstrom JWN ) and Anheuser-Busch [ BUD ) Income
Marriott ( MAR Result

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