CEO Cussion Kar Shun Pang rings the opening bell on the NYSE.
Picture: NYSE
Take a look at the businesses making headlines in noon buying and selling:
Tencent Music — Shares of Tencent Music rose 1.4% after Common Music Group bought a 10% stake to a consortium led by the Chinese language tech firm. The deal values Common Music at about $34 billion. Common Music is the file label of many mega-artists together with Taylor Swift and Girl Gaga.
Core Laboratories — Shares of Core Labs dropped greater than 21% after the corporate slashed its fourth-quarter earnings forecast and lowered its dividend. Core Labs expects a revenue between 37 cents per share and 38 cents per share for the fourth quarter. The corporate beforehand anticipated earnings per share between 44 cents and 45 cents. Core Labs additionally lower its quarterly dividend to 25 cents per share from 55 cents per share.
McDermott International — McDermott sank greater than 10% in noon buying and selling, including to a 55% week-to-date plunge, as buyers ready for a chapter submitting from the corporate. The supplier of engineering and building companies to the power business has been below stress because the Wall Avenue Journal reported earlier within the week that it has been in talks with its lenders about potential chapter choices. These reportedly embody a $2 billion mortgage to proceed operations throughout any future chapter…