Stock Alert: Bausch Health Co. Down 9% On Wider Q1 Net Loss

Accenture Invests In Prevailion – Quick Facts

Accenture (ACN) said it has made a strategic investment, through Accenture Ventures, in Prevailion, a cyber security counterintelligence company. Terms of the deal were not disclosed.

Prevailion provides clients with expansive visibility into malware across their organization and supply chains with early detection of advanced threats through adversary counterintelligence.

Accenture said Prevailion is now a part of Accenture Ventures’ Project Spotlight, an
engagement and investment program that connects emerging technology software startups with the Global 2000 to fill strategic innovation gaps.

How Apple turned dongles into a big business

If you bought a computer or a phone in the last five years, you know what a dongle is. They connect headphones to charging ports, laptops to TVs or card readers, and so on. Today, it's hard to do many everyday tech tasks without them, which makes dongles a big business. That's in large part due to Apple, which removed its headphone jack from the iPhone lineup and switched almost entirely to USB-C (now Thunderbolt 3) ports on its computers in 2016.

Apple, Belkin and other accessory companies have created a huge market for these dongles, which is estimated by Facts and Factors to bring in more than $25 billion by 2027. But with wireless tech constantly on the heels of adapters like these, companies that once made most of their money on dongles – Belkin CEO Steve Malony said around 70% of its business was once made from dongles – are investing in the future of device connections.

Watch the video to learn more.

U.S. Factory Orders Rebound 1.1% In March, Slightly Less Than Expected

New orders for U.S. manufactured goods showed a notable rebound in the month of March, according to a report released by the Commerce Department on Tuesday.

The Commerce Department said factory orders jumped by 1.1 percent in March after falling by a revised 0.5 percent in February.

Economists had expected factory orders to surge up by 1.3 percent compared to the 0.8 percent drop originally reported for the previous month.

The rebound by factory orders came as orders for durable goods increased by 0.8 percent in March following a 0.9 percent slump in February.

Orders for non-durable goods also shot up by 1.5 percent in March after edging down by 0.1 percent in the previous month.

The report also showed shipments of manufactured goods spiked by 2.1 percent in March after tumbling by 1.9 percent in February.

Inventories of manufactured goods also advanced by 0.7 percent in March following a 0.8 percent increase in the previous month.

With shipments jumping more than inventories, the inventories-to-shipments ratio fell to 1.38 in March from 1.40 in February.

American Express Global Business Travel To Acquire Egencia From Expedia – Quick Facts

American Express Global Business Travel has made a binding offer to acquire Egencia, Expedia Group’s corporate travel arm. Expedia would become a shareholder in, and enter a long-term strategic commercial agreement with, American Express Global Business Travel.

American Express Global Business Travel is a leading business partner for managed travel. GBT would continue to invest in the Egencia brand, its people and technology.

President of Expedia Business Services Ariane Gorin said: “We are thrilled by the potential transaction and what GBT and Egencia could achieve together, as Expedia Group seeks to simplify our business and be a leader in all of our endeavours.”

European Economics Preview: UK Mortgage Approvals Data Due

Mortgage approvals and final factory Purchasing Managers’ survey data from the UK are due on Tuesday, headlining a light day for the European economic news.

At 1.00 am ET, Statistics Finland publishes unemployment data for January.

At 3.00 am ET, the Swiss State Secretariat for Economic Affairs is set to release consumer climate survey results.

At 4.00 am ET, Greece manufacturing PMI data is due from IHS Markit.

At 4.30 am ET, the Bank of England is slated to issue mortgage approvals data for March. The number of mortgages approved in March is seen at 92,300 versus 87,700 in February.

In the meantime, UK Markit/CIPS final factory PMI data is due. According to preliminary estimate, the manufacturing PMI improved to 60.7 in April from 58.9 in March.

‘A Land Grab’ for a Piece of New York’s Marijuana Business

Cannabis companies and brokers are rushing into what could be a $4.2 billion industry, but for all the excitement, there are significant challenges.

By Jane Margolies

Stock Alert: Bausch Health Co. Down 9% On Wider Q1 Net Loss

Bausch Health Companies Inc. (BHC) shares are declining on Tuesday morning trade after the company reported a wider net loss for the first quarter.

Currently, the shares are at $28.49, down 9.33 percent from the previous close of $31.42. For the 52-week period, the shares have traded in a range of 4,553,078.

The health care products company recorded first-quarter net loss of $610 million wider than net loss of $152 million in the prior year. On an adjusted basis, net loss was $370 million.

Revenue for the quarter increased to $2.027 billion from $2.012 billion last year. The company said its first-quarter revenue was negatively impacted by approximately $100 million due to the COVID-19 pandemic.

Looking ahead, the company reiterated full-year revenue in a range of $8.60-$8.80 billion and adjusted is EBITDA in a range of $3.40-$3.55 billion.