Tesla Considering Factory in China?
Angry Birds Movie Tops Box Office Weekend
The Angry Birds Movie topped the box office this weekend, making an estimated $39 million in its opening weekend. The animated comedy film — based on the popular app game — scored the third-best animated debut of the year, behind Zootopia ($75.1 million) and Kung Fu Panda 3 ($41.3 million), Usa Today reported.
Boeing Shares Could Fall 15%: Barron’s
Shares of Boeing Co could fall as much as 15% if sales of its aircraft fall on weakening demand, according to a report by the financial publication Barron’s. The aircraft maker generates roughly two-thirds of its revenue from commercial aircraft, and the remainder from its defense business. Airlines and leasing companies are using planes longer and delaying orders for new aircraft, according to the publication, which noted that demand for updated, more fuel-efficient planes is weak due to low oil prices.
Iran Has No Plans To Freeze Oil Exports
Iran will not freeze the level of its oil production and exports, Deputy Oil Minister Rokneddin Javadi was quoted on Sunday as saying. “Under the present circumstances, the government and the Oil Ministry have not issued any policy or plan to the National Iranian Oil Company (NIOC) towards halting the increase in the production and exports of oil,” Javadi, who also heads the state-run NIOC, told Iran’s Mehr news agency.
Earnings Scheduled For May 23, 2016
58.com Inc (ADR) is set to report its quarterly earnings before market open. The company is expected to post a quarterly loss of $0.69 per share.
ReneSola Ltd. (ADR) will report its quarterly earnings before market open. The company is expected to report earnings per share of $0.04.
America’s Car-Mart, Inc. will release its quarterly earnings report after market open. It is expected to post earnings per share of $0.58.
Top Gainers – May 21
Shares of Cellectar Biosciences Inc soared 228.57%.
Shares of InterOil Corporation (USA) surged 37.66% following the announcement that the company agreed to be acquired by Oil Search Limited (ADR) .
Shares of GlobeImmune Inc gained 30.93%.
Shares of Cordia Bancorp Inc. increased by 30.31%.
Shares of Ocean Rig UDW Inc. jumped 22.65%.
Top Losers – May 21
Shares of Neovasc Inc (US) plunged 75%.
Shares of New York & Company, Inc. dropped by 40.68%.
Shares of Kitov Pharmaceuticals Holdings Ltd (ADR) fell 32.06%.
Shares of Atlas Resource Partners, L.P. 10.75% Class E Cumulative Redeemable Perpetual Preferred Units lost 29.03%.
Shares of Xtera Communications Inc (NASDAQ:XCOM) declined 23.87%.
Mergers and Acquisitions
Phillips 66 is in the final stages of selling the only oil refinery in Ireland, Reuters reported, citing an unnamed source familiar with negotiations.
German drugs and chemicals group Bayer AG made an offer to buy U.S. seeds company Monsanto Company for $122 per share in cash, or a total value of $62 billion, creating the world’s biggest agricultural supplier.
U.S. fertilizer maker CF Industries Holdings, Inc. and Dutch rival OCI NV ended their merger agreement on Monday, following the U.S. Treasury’s steps to curb tax avoiding inversion deals.