Morning Report: 5 Important Stories Investors Should Read

79
Run

Indian Outsourcing Firm Says Will 10,000 American Workers

Infosys, an outsourcing company based in India, announced that it will hire 10,000 workers in the United States in the next two years, The New York Times reported.

The announcement comes just weeks after President Trump signed an executive order that directed government agencies to review employment immigration laws to promote “Hire American” policies.

Infosys also said that it would open a technology and innovation office in Indiana in August.

United Airlines CEO to Appear Before House Transportation Committee

United Airlines CEO Oscar Munoz will appear before the House Transportation Committee today. He will be facing questions about last month’s incident in which a passenger was dragged off a plane, NPR reported.

Munoz will be joined by the airline’s president Scott Kirby. They will explain why it was “necessary” to remove a passenger from a Louisville, Ky.,-bound flight from Chicago.

United Airlines is a subsidiary of United Continental Holdings Inc (NYSE:UAL). UAL stock closed up 0.09% on Monday.

MasterCard Q1 Profit, Revenue Top Estimates

Mastercard Inc (NYSE:MA) reported first-quarter financial results on Tuesday. The company’s profit and sales topped analysts’ expectations, CNBC reported.

Earnings per share was $1.01, up from the Street’s estimate of 95 cents. Revenue for the quarter was $2.73 billion versus the estimate of $2.65 billion.

“We’re off to a very good start, with strong revenue and earnings growth driven by solid transaction and volume levels this quarter,” Mastercard Inc (NYSE:MA) CEO Ajay Bangasaid in a statement.

Oil Prices Move Higher Tuesday

Oil prices rose on Tuesday on reports of lower production by Russia and OPEC, Reuters reported.

The market is also expecting that major exporters would extend output cuts into the second half of the year.

Benchmark Brent crude oil LCOc1 was up 30 cents at $51.82 a barrel by 1230 GMT (8.30 a.m. ET). The futures contract hit a one-month low of $50.45 last week after the restart of two Libyan oilfields. U.S. light crude CLc1 was 20 cents higher at $49.04, according to the news agency.

BP Q1 Earnings Beat Estimates

BP plc (ADR) (NYSE:BP) reported improved financial results for the first quarter. The oil giant was able to beat analyst expectations thanks to higher oil prices and increased production.

Earnings per share was $0.07 versus the Street’s estimate of $0.06 per share, CNBC reported.

Revenue for the quarter was $55.9 billion versus expected $50.0 billion. The company’s net income was $1.5 billion, compared to analysts’ expectations of $1.3 billion.

An ad to help with our costs