One of Wall Street’s top Asia experts isn’t ruling out a U.S.-China trade war. According to Yale University senior fellow Stephen Roach, the threat is still real, and it could take a big bite out of stocks. “The bottom line is China has been one of President Trump’s core economic issues, and I’d be surprised […]
Read moreLenovo will be among the first companies to introduce 5G products, its chief financial officer told CNBC on Thursday. The technology, which is set to dethrone 4G as the next generation of mobile internet, is expected to improve connection speeds. “I think we obviously believe that 5G is going to be a very interesting technology,” […]
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U.S. tractor maker Deere & Co. is set for upside as rising grain prices spur a cycle of equipment replacement across the globe, according to UBS. Analyst Steven Fisher, who upgraded the stock to buy from neutral, also told clients that a potential dividend increase and a strong earnings performance this summer could prove lucrative […]
Read moreMicrosoft CEO Satya Nadella gave a philosophical response Thursday to the major challenges that are currently being faced by tech companies, underling the guiding principles that he and his firm follow. Speaking in front of an audience at the VivaTech conference in Paris, he said artificial intelligence (AI) is the “defining technology of our times.” […]
Read moreCheck out the companies making headlines before the bell: Best Buy – The electronics retailer earned an adjusted 82 cents per share for the first quarter, 8 cents a share above estimates, with revenue also exceeding forecasts. Best Buy reported a comparable store sales increase of 7.1 percent, well above the consensus Thomson Reuters forecast […]
Read moreBest Buy, the No.1 U.S. consumer electronics retailer, posted a forecast-beating jump in quarterly comparable sales and earnings on Thursday, but online sales growth decelerated and shares dipped in pre-market trading. Best Buy’s sales at established stores rose 7.1 percent in the first quarter ended May 5, handily beating analysts’ average expectation for a 2.9-percent […]
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A start-up called Bowery Farming is putting an urban twist on agriculture, raising leafy greens and herbs in a high-tech warehouse a few miles outside of New York City, and celebrity chefs are starting to invest. Using a mix of software, cameras, lights and robotics, Bowery can control precisely how plants grow. CEO and co-founder […]
Read moreDomestic auto stocks rose Thursday after the U.S. Department of Commerce started an investigation into automobile imports. The government is looking into whether the imports “threaten to impair the national security” of the United States. It will be carried out under Section 232 of the Trade Expansion Act of 1962, the agency said in a […]
Read moreShares in Samsonite fell to a 9-month low on Thursday after a short seller issued a report saying the world’s largest luggage maker had questionable accounting practices and poor corporate governance. Blue Orca Capital said the owner of the Tumi brand had concealed slowing growth through debt-fuelled acquisitions and had used accounting methods to massage […]
Read moreHousing stocks, among the top performers of 2017, are biting the dust. Homebuilders as a group, measured by the U.S. home construction ETF ITB, has sunk over 12 percent this year; that places the group on pace for its worst year since 2008, when it lost 44 percent, and its first negative year since 2011. […]
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