ECB Leaves Monetary Policy Unchanged, Euro Treading Water Before Draghi

ECB Leaves Monetary Policy Unchanged, Euro Treading Water Before Draghi

The euro erased its overnight loss against the dollar and is trading fractionally higher at the North American open after the European Central Bank left interest rates and the size of its quantitative easing program unchanged, as expected. Earlier losses tied to bearish German inflation data — the EUR/USD traded as low as 1.0952 after the -0.2% drop in the September PPI — were effectively wiped out by the ECB […]

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Constellation Brands Acquires Washington Wine Collection, Sheds Canadian Business

Constellation Brands Acquires Washington Wine Collection, Sheds Canadian Business

Constellation Brands Inc (STZ) said on Monday it acquired Charles Smith Wines collection of five “super and ultra premium wines” for $120 million while unloading its Canadian wine business. The brands it acquired includes Kung Fu Girl Riesling, Velvet Devil Merlot, Boom Boom Syrah, Eve Chardonnay and Chateau Smith Cabernet Sauvignon. Charles Smith Wines specializes in Washington State products and was named winemaker of the year in 2014 by Wine […]

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Alon USA Energy Shares Edge Lower Pre-Bell as Delek Proposes to Buy Stock it Doesn’t Own at Discount

Alon USA Energy Shares Edge Lower Pre-Bell as Delek Proposes to Buy Stock it Doesn’t Own at Discount

Alon USA Energy (ALJ) shares were slightly lower in recent pre-market trade as Delek said in a regulatory filing that it is proposing to buy the shares of Alon USA that it doesn’t own at a fixed ratio of 0.44 Delek shares per Alon share. Delek currently owns 47.2% of Alon USA shares. DK was higher over 5% at $17.29 in recent pre-market trade, suggesting a price per Alon share […]

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Arrow Electronics to Bring New Level of Wifi Networking to Consumers by Partnering with Mojo Networks

Arrow Electronics to Bring New Level of Wifi Networking to Consumers by Partnering with Mojo Networks

Arrow Electronics (ARW) is teaming up with Mojo Networks, a enterprise wifi provider, to create one of the first Software-as-a-Service-based access point models, which will use Mojo’s technologies along with Arrow’s supply chain and cloud capabilities to cut hardware costs and create a new way of thinking of technology. The two companies are hoping to “bring flexible, next-generation IT system solutions to our customers and resellers today,” said Arrow Chief […]

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Dollar Defensive as China Trade Data Fuels Safe-Haven Demand For Yen

Dollar Defensive as China Trade Data Fuels Safe-Haven Demand For Yen

The unexpected drop in China’s trade surplus had far-reaching consequences for the U.S. dollar, ultimately causing it to close lower on Thursday against all the major currencies. Meanwhile, an impressive supply-driven rebound in oil futures buoyed the Canadian dollar and Norwegian krone, both of which were the strongest performing currencies among the G-10 currencies. USD/JPY drove forex action Thursday when a 20% decline in the Chinese trade surplus rekindled worries […]

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