Here are five things you need to know on June 28:
1. Shares rise as China recovers
US equity futures rose on Friday, June 29, and global equities rallied as a turnaround in Chinese equities and a weakening of the US dollar weighed on pressure in Asia on the impact of the trade war on overall economic growth.
A 2.2% gain for the Shanghai Composite triggered the global upturn, boosting regional equities, with Hong Kong's Hang Seng closing 1.6% and the Japanese Nikkei 225 Index up 0.15% ,
Contracts tied to the Dow Jones Industrial Average
The US economic calendar on Friday includes personal income and expenses for May at 8:30 am ET, Chicago PMI for June at 9:45 am and consumer sentiment for June at 1
Revenue will be on Friday from Constellation Brands Inc. (STZ) expected.
Constellation Brands is a stake in Jim Cramer's Action Alerts PLUS member club. Would you like to be warned before Jim Cramer buys or sells the stock? Learn more now.
2. – Deutsche Bank fails stress test
The Deutsche Bank AG (DB) share rose Friday after it received a new allegation from the Federal Reserve regarding "critical flaws" in its financial planning, while Goldman Sachs Group Inc. (GS and Morgan Stanley (MS) faced new restrictions on their planned dividends and share repurchases.
On Thursday, June 28, the Fed noted "widespread and critical flaws" in DB USA's capital planning practices, Deutsche subsidiary As a result, DB USA will not be able to pay regular dividends to the German parent company until next year, a senior Federal Reserve official told reporters.
Goldman Sachs and Morgan Stanley failed on an annual "stress test" who pledged them, even after a severe recession and a market decline, a fair e financial strength, the Fed said. The two companies were prohibited from increasing their planned distributions to shareholders above the previous year's level.
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3. – Nike Soars Revenues as North American Revenues
Nike Inc. (NKE) rose 9.5% ahead of Friday's trading session after the sneaker and sports apparel company posted gains and sales in the fourth quarter outperforming analysts' forecasts. 19659003] Nike said that a new focus on direct-to-consumer sales, supported by a revised online strategy and a partnership with Amazon.com Inc. (AMZN), will increase sales in North America in the three months to May by more than 2.7%. This helped to increase total revenue by 12.8% to $ 9.79 billion, earning $ 1.14 billion, or 69 cents a share. This exceeded analyst forecasts by 5 cents.
Based in Eugene, Oregon, the company anticipates high-single-digit revenue growth for fiscal year 2019 and a predicted margin expansion of at least 50 basis points.
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4. – Novartis to Exploit Alcon
Novartis AG (NVS) announced Friday that it will spin off its eye care unit Alcon after being reviewed in 2017.
The Swiss pharmaceutical company is repositioning its portfolio to focus more on medicine, saying Alcon would be split in the first half of 2019 and would be listed on the Swiss Stock Exchange. The unit could have a value of up to $ 25 billion
Shareholders will vote on the plans at the company's annual general meeting next February.
Novartis bought Alcon in a multi-stage process that began in 2009 and lasted more than a year after the minority shareholders rejected the offer, despite an agreement that secured 77% of the deal from its then majority shareholder Nestlé SA. Novartis paid a total of $ 38.6 billion for Nestlé and a further $ 12.9 billion for the remaining 23 percent in December 2010.
5. – Xiaomi's IPO in Hong Kong increases by $ 4.72 billion
The initial public offering of Chinese Xiaomi Corp. in Hong Kong, at the low end of the band, bringing together $ 4.72 billion in the world's largest technology platform in four years The transaction said, Reuters reports.
Xiaomi's offer was priced at HK $ 17 per share ($ 2.17), the low of a price range of HK $ 17 to HK $ 22. The smartphone maker sold about 2.18 billion shares, one respondent said. Thus, the IPO is the largest in the technology sector, as the Alibaba Group Holding Ltd. (BABA) garnered $ 25 billion in New York in 2014, Reuters reported.
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