Shares of Cisco rallied on Thursday after the enterprise technology giant wowed Wall Street with better-than-expected earnings. The stock rose about 6 percent Thursday morning after about a dozen Wall Street analysts listed in FactSet raised their earnings expectations for Cisco going forward. Adjusted EPS: 61 cents per share, excluding items, vs. 60 cents per […]
Read moreThe U.S. economy faces a future of higher deficits, reduced government benefits and near-zero interest rates unless policymakers get their act together soon, Cleveland Fed President Loretta Mester said Thursday. In a speech to the Cato Institute in Washington, D.C., Mester painted a bleak picture driven in part by an aging population and lower productivity. […]
Read moreShares of L Brands sunk about 6 percent before the opening bell on Thursday, after it continued to struggle with weakness in its Victoria’s Secret business. The once high-flying brand now competes against a host of new competition including American Eagle’s Aerie. The brand has also been hurt by a decline in mall traffic. Third-quarter […]
Read moreJohn Malone says Amazon is a 'Death Star' moving in 'striking range of every industry on the planet'
Liberty Media Chairman John Malone believes Amazon will dominate the future and is the only company that has a chance to beat Netflix. Netflix CEO Reed Hastings “has been successful in throwing hail Mary passes and then growing into them. And I think he is going to continue doing that. He’s got a great service. […]
Read moreWill the stock market boom go bust or at least slow — and if so, when and why? Not for at least another 12 months — and perhaps not until sometime after 2019 — and then most likely only due to “natural” causes, said speakers at the opening Tuesday night keynote at the Charles Schwab […]
Read moreShares of Pandora jumped nearly 6 percent in premarket trading Thursday after BMO Capital Markets upgraded its outlook on shares of the music streaming company. Pandora’s move to grow “non-music content,” such as podcasts, is a key part of the company’s attempt to reverse its steady share price decline, the analyst said. Pandora’s stock has […]
Read moreI’m planning to keep the one I bought, but there are some big caveats you need to know about. Amazon Key will work as advertised — just using the smart lock for personal use is great, too — but you need to think about your security system and your dog. If you’re worried about either, […]
Read moreIn refreshing its Surface Book convertible laptop, Microsoft has made a device that looks and feels familiar but has significant changes inside and out. The Surface Book 2 is going to be one of the best portable Windows experiences you can buy and, with a starting price of $1,500, you’ll have to open your wallet […]
Read moreWall Street is eager to see Tesla’s new semi truck and hear updates on its autonomous driving technology ahead of the company’s event Thursday. Tesla’s leadership in autopilot technology and the semi truck’s performance is critical for one analyst at Nomura Instinet, who reiterated his buy rating on CEO Elon Musk’s electric car maker. The […]
Read moreCurrency, United States Finance
Norway's $1 trillion wealth fund — the world's largest — proposes to drop oil, gas stocks from index
Norway’s trillion-dollar sovereign wealth fund is proposing to drop oil and gas companies from its benchmark index, which would mean cutting its investments in those companies, the deputy central bank chief supervising the fund told Reuters. If accepted by the finance ministry and adopted by parliament, the fund would over time divest billions of dollars […]
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