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The Journal Gazette

Thursday, January 31, 2019 1:00 am

Briefs

Nasdaq bids to buy Oslo exchange

Staff, news services

COPENHAGEN, Denmark – Nasdaq has made an offer to acquire the Oslo stock exchange, the last trading place in the Nordic-Baltic region it doesn't own.

Bente A. Landsnes, head of Oslo Boers, recommended Wednesday that shareholders accept the offer and decline a rival bid by Euronext, saying it was “the best alternative for all stakeholders.”

Nasdaq Nordic, which is behind the stock exchanges in Sweden, Denmark, Finland, Iceland and the three Baltic countries, offered 152 kroner ($17.88) in cash per share. That values the company at 6.5 billion kroner ($769 million) and was 7 kroner above an offer from Euronext.

Founded in 1819, the Oslo Boers has 220 companies listed.

Fiber network set to expand in Midwest

Everstream, an internet and data services provider in Cleveland, announced plans Wednesday to expand its fiber network through greenfield builds through the Midwest, including in Fort Wayne and Indianapolis.

Everstream expects to invest $300 million and add nearly 6,000 route miles to its 10,000-plus-mile fiber network, a news release said.

The company offers fiber-based Ethernet, internet and data center solutions to businesses throughout the Midwest and plans to build dense metro fiber networks in 12 markets, including areas of Ohio, Kentucky, Michigan, Missouri and Wisconsin.

Anthem exceeds 4th quarter forecast

The Blue Cross-Blue Shield insurer Anthem topped fourth-quarter earnings expectations and unveiled a better-than-expected 2019 forecast, helped by an early start for its prescription drug coverage business.

Shares of the nation's second-largest health insurer soared after Anthem said Wednesday it will start moving customers into its new business in this year's second quarter, several months ahead of schedule.

The insurer has said it expects to gain annual savings of more than $4 billion by running its own pharmacy benefit management operation, IngenioRx.

213,000 jobs added in January: Survey

U.S. businesses added a solid 213,000 jobs in January, a private survey found, signaling that the partial government shutdown and trade war concerns that have roiled financial markets aren't discouraging companies from hiring more people.

Payroll processor ADP said Wednesday that January's job gains were lower than the 263,000 added in December, which was revised slightly lower.

ADP's report does not include government employees and therefore was not directly affected by the shutdown.

Facebook has strong earnings, revenue

Facebook reported robust earnings and revenue that handily surpassed Wall Street expectations for the final quarter of 2018 despite heavy spending on safety and security.

Facebook said Wednesday that it earned $6.9 billion, or $2.38 per share, in the October-December period. That's up 61 percent from $4.3 billion, or $1.44 per share, a year earlier. Analysts polled by FactSet had expected $2.18 per share.

Revenue increased 30 percent to $16.9 billion, beating expectations of $16.4 billion. Facebook's stock almost 12 percent in after hours trading to roughly $168.