Fiat Chrysler and Renault pursue $35 billion merger: Morning Brief - Yahoo Finance

Tuesday, May 28, 2019

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WHAT TO WATCH

It will be a short week and relatively quiet in regards to both economic data and corporate earnings. Trade-related news has taken stocks on a roller coaster ride recently. Last week, the Dow closed lower for the fifth straight week, and it could be another turbulent week for markets as investors continue to monitor negotiations progress between the U.S. and China.

At.10 a.m. ET, the Conference Board will publish its May report on consumer confidence. Economists estimate the headline index climbed to 130 from 129.2 in April.

Notable earnings reports scheduled for Tuesday include NIO (NIO) before market open and Workday (WDAY) after market close.

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TOP NEWS

The Fiat logo on a car on display in a car reseller in Milan, Italy, Friday, Jan. 13, 2017. The U.S. government is accusing Fiat Chrysler of failing to disclose software in some of its pickups and SUVs with diesel engines that allows them to emit more pollution than allowed under the Clean Air Act. (AP Photo/Antonio Calanni)

Fiat Chrysler and Renault pursue $35 billion merger: Fiat Chrysler pitched a finely balanced merger of equals to Renault on Monday to tackle the costs of far-reaching technological and regulatory changes by creating the world's third-biggest automaker. [Reuters]

Alibaba weighs raising $20B through a second listing: Alibaba Group Holding Ltd. (BABA) is considering raising $20 billion via a second listing in Hong Kong after a record-breaking 2014 New York debut, people with knowledge of the matter said, a mega-deal that will bring China’s largest company closer to friendlier investors at home as U.S. tensions escalate. [Bloomberg]

Huawei reviewing FedEx relationship: Chinese telecoms equipment maker Huawei is reviewing its relationship with FedEx Corp. (FDX) after it claimed the U.S. package delivery company, without detailed explanation, diverted two parcels destined for Huawei addresses in Asia to the United States and attempted to reroute two others. [Reuters]

Also: Huawei is a 'national security threat' that tried to steal my tech: Akhan Semiconductor CEO [Yahoo Finance]

U.S. court rules partially in favor of Molson in ad row with Bud Light: A U.S. court on Friday barred Anheuser Busch InBev NV (BUD), the world's largest beer maker and brewer of Budweiser brand beers, from using parts of its marketing that said rival Molson Coors Brewing Co.'s (TAP) MillerCoors used corn syrup in the production of its light beers. [Reuters]

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https://finance.yahoo.com/news/fiat-chrysler-and-renault-pursue-35-billion-merger-morning-brief-101456242.html

2019-05-28 10:14:00Z
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