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Nvidia Corp (NVDA.O) gained 5.6 percent after Credit Suisse initiated coverage of the chipmaker with a bullish outlook. Zafgen Inc (ZFGN.O) shares plummeted 40.5 percent after the U.S. Food and Drug Administration put a hold on U.S. trials of the company’s experimental diabetes drug, citing safety concerns cufflink store uk sale. The third-quarter reporting season is largely over, with nearly 97 percent of companies in the S&P 500 having reported, 78 percent of which beat analyst expectations, according to Refinitiv data..
Investors looked ahead to the G20 Summit convening in Buenos Aires on Friday and Saturday, with U.S. President Donald Trump and China’s Xi Jinping expected to meet regarding their two countries’ escalating tariff dispute. Advancing issues outnumbered declining ones on the NYSE by a 1.80-to-1 ratio; on Nasdaq, a 1.50-to-1 ratio favored advancers cufflink store uk sale. The S&P 500 posted 5 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 17 new highs and 101 new lows. Volume on U.S. exchanges was 6.68 billion shares, compared to the 8.02 billion average over the last 20 trading days..
(Reuters) – Walt Disney Co (DIS.N) and Twenty-First Century Fox Inc (FOXA.O) were sued for more than $1 billion on Monday by casino operator Genting Malaysia Bhd (GENM.KL), which accused them of abandoning a contract related to its planned construction of the first Fox-branded theme park cufflink store uk sale. Genting said “seller’s remorse” induced Fox, with Disney’s help, to breach its 2013 contract with Fox Entertainment Group to license intellectual property for Fox World, a proposed addition to its Resorts World Genting complex, an hour’s drive from Kuala Lumpur..
Disney did not immediately respond to requests for comment. Dan Berger, a spokesman for Twentieth Century Fox Film, one of the defendants, declined to comment. The lawsuit was filed in the U.S. District Court in Los Angeles as Disney prepares to complete its $71.3 billion purchase of many Fox assets, expected in the first quarter of 2019 cufflink store uk sale. Genting said the problems began as Fox engineered years of delays to force a renegotiation of the contract, which did not give it a share of gate sales. But according to the complaint, Disney is now “calling the shots,” and wants to end the contract because associating with a gaming company didn’t fit its “family-friendly” brand strategy..
Genting said Fox issued a default notice with the hope of terminating the contract, in a manner “entirely consistent with Disney wanting to kill the deal” to benefit itself. “Given that FEG had no right to terminate the Agreement, Fox and Disney are liable for what will exceed a billion dollars in damages attributable to the bad-faith behavior of both Fox and Disney,” the complaint said. Genting said it had already made a “$750 million-plus investment” in Fox World. It is also seeking punitive damages cufflink store uk sale.