Reuters - Daily Investor Update

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Monday, June 12, 2017

Wall St. falls as Apple drags tech shares lower

NEW YORK (Reuters) - Apple shares added to last week's drop on Monday to lead a market downturn as tech, still the best performing S&P 500 sector this year, succumbed under its own weight.

Uber CEO Kalanick likely to take leave, SVP Michael out: source

SAN FRANCISCO (Reuters) - Uber Technologies Inc [UBER.UL] Chief Executive Travis Kalanick is likely to take a leave of absence from the troubled ride-hailing company, but no final decision has yet been made, according to a source familiar with the outcome of a Sunday board meeting.

TransDigm's shares fall as Senator Warren seeks probe

(Reuters) - Shares of TransDigm Group Inc fell as much as 7.3 percent to $250.18 on Monday, after Massachusetts Senator Elizabeth Warren called for an investigation into the aircraft components supplier's government contracts.

Honeywell aerospace unit under review for spinoff has fared well: chairman

MONTREAL (Reuters) - Honeywell International Inc's aerospace business, under review as part of a spinoff proposal, has performed well and benefited from heavy investment from the U.S. technology and manufacturing company, Executive Chairman David Cote said on Monday.

GE wins U.S. antitrust approval for Baker Hughes purchase

WASHINGTON (Reuters) - General Electric Co won U.S. antitrust approval to merge its oil and gas business with Baker Hughes Inc , the Justice Department said on Monday.

Deutsche Bank's wealth management arm to hire 100 client managers

(Reuters) - Deutsche Bank AG's wealth management division said on Monday it plans to hire about 100 client managers worldwide this year, as part of its efforts to win more super-rich customers, particularly in the Asia-Pacific region.

GE's new CEO to review portfolio 'with no constraint'

(Reuters) - General Electric Co's incoming chief executive said on Monday he will conduct a swift review of the business portfolio, and signaled its strategy of selling software-related services across its many divisions will remain the heart of GE for decades.

Tech rout sparks search for value

NEW YORK (Reuters) - The "sell in May" memo arrived a bit late in some investors' inboxes this year.

U.S. recession remote in next 12 months: Deutsche Bank

NEW YORK (Reuters) - Chances are remote the U.S. economy will fall into a recession in the next 12 months despite a recent flattening of the U.S. yield curve suggesting growing recession risk, Deutsche Bank's economists said on Monday.

Tech stock selloff goes on; oil prices gain

NEW YORK (Reuters) - A selloff in technology stocks extended to a second day on Monday, led by losses in Apple , while oil prices rose on signs of inventory declines in the United States.