Finance
Boeing and Engineers' Union SPEEA Resumed Contract Talks Aug. 31 After Members Rejected Offer; Contracts Expire Oct. 6
SPEEA's roughly 17,000 Boeing engineers and technical workers voted down a four-year offer their own negotiators had recommended, and authorized a strike that could not legally begin before Oct. 7.
China's Official Manufacturing PMI Rises to 49.8 in August, a Second Month Below 50
The National Bureau of Statistics reported a 0.6-point increase from July that still left the index under the 50 line, while a separate private survey of smaller exporters showed expansion at 51.5.
SLB Agrees to Buy German Cooling Maker Kelvion for $3.4 Billion in Cash Plus $0.7 Billion in Debt
The Houston-based oilfield-services company said on August 31 it will buy Kelvion from Apollo-managed funds and Triton-advised funds, in a deal it values at about 11 times Kelvion's estimated 2026 earnings before interest, taxes, depreciation and amortization.
Gold Rose About 10% in August Through Aug. 28, Then Fell 3.2% After Fed Chair Warsh's Jackson Hole Speech
Gold closed Friday, Aug. 28 near $4,454 an ounce — its strongest month since January — after a one-day drop that followed hawkish remarks from Federal Reserve Chair Kevin Warsh, and it remains more than $1,100 below the record set Jan. 28.
McKesson Signs Agreement to Buy Precision Medicine Group for About $2.25 Billion
The drug distributor said on August 25, 2026 that it will fold the Maryland-based clinical-research and drug-commercialization firm into its Oncology & Multispecialty segment, pending regulatory clearance.
Ulta Beauty Reports 8.9% Second-Quarter Sales Growth and Raises Full-Year Outlook
The beauty retailer said quarterly net sales reached $3.04 billion for the period ended August 1 and lifted its fiscal 2026 sales and profit forecasts; the stock fell after hours as gross margin slipped and second-half guidance implied slower growth.
Consumer Confidence Index Reads 89.4 in August; New-Home Sales Ran at a 607,000 Annual Rate in July
The Conference Board's index slipped 0.8 points to its lowest level since January, while the Census Bureau put July new-home sales 10.5% below June — a change the agency flagged with a margin of error wide enough to include no change at all.
Vanguard Agrees to Buy Advisor Custody Platform Altruist; Terms Undisclosed, Reported at $4 Billion to $4.6 Billion
Vanguard said on August 26 that it will acquire Altruist, a technology and custody platform used by about 6,000 independent financial advisors, with closing expected later this year subject to regulatory approval.
Gap Inc. Posts 2% Sales Drop and a $417 Million Tariff-Refund Gain, Raises Profit Outlook; Shares Rise About 14%
The company beat adjusted profit estimates, missed on revenue, named a new Old Navy CEO, and booked a large one-time benefit from tariff refunds ordered after the Supreme Court struck down the IEEPA tariffs.
Marvell Shares Close Down 10.3% After Fiscal Q2 Beat and Raised Fiscal 2028 Revenue Outlook
Marvell reported record quarterly revenue of $2.739 billion and lifted its fiscal 2028 forecast to about $18 billion, but investors focused on gross-margin guidance and on when the Google chip agreement starts adding meaningful revenue.