Global fund managers poured money into U.S. equities, overweighting American stocks in June for the first time in 15 months, on a robust profit outlook. Sixty-four percent of the fund mangers surveyed this month by Bank of America Merrill Lynch said the U.S. has the most favorable profit outlook, now at a 17-year high. That […]
Read moreForty-six-year-old tech titan Elon Musk is currently worth more than $20 billion, according to Forbes. But the Tesla and SpaceX boss hasn’t always been so wealthy. On Saturday, Musk tweeted about the early years of his career. “I arrived in North America at 17 w $2000, a backpack & a suitcase full of books. Paid […]
Read moreA top Wall Street firm is getting more optimistic on Twitter’s prospects. J.P. Morgan raised its price target to $50 from $39 for the social media company’s shares, citing improving conversations with advertisers. “We are raising our estimates on TWTR shares as we believe advertising momentum is strengthening, particularly among large marketers,” analyst Doug Anmuth […]
Read moreUber unveiled a smaller version of its ride-hailing app on Tuesday, in a bid to appeal to emerging market customers. The revamped app, called Uber Lite, takes up just 5 megabytes of storage, and has a 300-millisecond response time, according to the company, speeding up the process of booking rides. Uber Lite is currently only […]
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J.P. Morgan added Weight Watchers to the firm’s list of “overweight” stocks, saying the weight loss company is poised for “outsized” growth as it looks to add more big-name celebrities through its partnership with Oprah Winfrey. “Management stabilized the trajectory … by revamping its points program, significantly improving the mobile platform, and recruiting pivotal social […]
Read moreShares of Urban Outfitters rose nearly 4 percent on Tuesday after at least four brokerages raised their price targets following the company’s upbeat quarterly same-store sales forecast at its retail business. The owner of Anthropologie and Free People clothing chains said same-store sales so far in the second quarter had climbed to the mid-teens percentage […]
Read moreShares of Sage Therapeutics gained nearly 6 percent Tuesday in premarket trading after the company said the Food and Drug Administration has cleared it to expedite development of its drug to treat major depressive disorder and postpartum depression. Sage said its currently ongoing trial in women with postpartum depression will now be designated a pivotal […]
Read moreSachin Solkhan, a veteran software engineer who works with Fidelity Investments, has thought a lot about how technology can help people with dementia recognize their loved ones. So when Amazon launched its DeepLens camera in November 2017, he got the idea to use its artificial intelligence software to do just that. Ahead of the device’s […]
Read moreU.S. consumer prices rose marginally in May amid a slowdown in the pace of increases in the cost of gasoline, pointing to moderate inflation pressures. The Labor Department said on Tuesday its Consumer Price Index increased 0.2 percent also as food prices were unchanged. That followed a similar gain in the CPI in April. In […]
Read morePresident Donald Trump‘s agreement with North Korean leader Kim Jong Un allows the market to focus on more pressing issues such as the Federal Reserve‘s policy meeting, economist Mohamed El-Erian told CNBC on Tuesday. “Look for markets to say, ‘Great, that’s a first, good constructive step with what happened in Singapore,'” Allianz’s chief economic advisor […]
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