Companies who buy Iranian crude oil must completely cut those exports by the start of November or else they will face powerful U.S. sanctions, a senior State Department official told reporters on Tuesday. Oil prices spiked following the announcement, which indicates that the Trump administration will not allow countries to gradually phase out Iranian crude […]
Read moreTechnology stocks in the U.S., with generally higher valuations compared with the broader market, are fairly priced in the current environment, Richard Turnill, global chief investment strategist at BlackRock, told CNBC on Tuesday. “When we talk about this market trapped in a range … and then you look at share prices of many tech companies […]
Read moreSpotify is reinventing the way music is sold and could gain upwards of 20 percent, analysts with Barclays said Tuesday. “Our optimism around SPOT stems from the company’s history of creating best-in-class products and user experience and innovating ahead of peers,” Barclays analysts said in a note. The firm issued an overweight rating on the […]
Read moreGoogle sister company Calico and drug giant AbbVie are chipping in another $1 billion to cure aging, the companies said Tuesday. Alphabet’s Calico and AbbVie first partnered in 2014 to combat age-related diseases, including cancers and neurodegenerative diseases. The additional contributions bring Calico’s total funding to $2.5 billion. Aging is an attractive area in the […]
Read moreGetty Images Apple CEO Tim Cook speaks during an Apple special event at the Flint Center for the Performing Arts on September 9, 2014 in Cupertino, California. Apple released the public preview of iOS 12 on Monday evening, which means you can already try some of the new features that will hit iPhones and iPads […]
Read moreEight of the tech industry’s most influential companies, in anticipation of a repeat of the Russian meddling that occurred during the 2016 presidential campaign, met with United States intelligence officials last month to discuss preparations for this year’s midterm elections. The meeting, which took place May 23 at Facebook’s headquarters in Menlo Park, Calif., was […]
Read moreVeteran economist Stephen Roach on Tuesday slammed President Donald Trump for his trade actions against China and urged the administration to take a different approach. “I would focus on this issue of market access,” said Roach, former chairman of Morgan Stanley’s operations in Asia. “China, like it or not, is going to shift its model […]
Read moreShares of Intel fell more than 1 percent on Tuesday after Bernstein downgraded the stock and slashed its price target, citing a narrow path for further gains and uncertainty following the abrupt departure of its CEO. Analyst Stacy Rasgon lowered his rating on Intel to underperform from market perform and slashed his price target on […]
Read moreHoly chips! The SMH semiconductor ETF tumbled nearly 4 percent on Monday in its worst daily performance since April. The ETF, which houses 25 of the largest U.S.-traded chips stocks, is on track for its first negative quarter since the third quarter of 2015, and according to one technical analyst, it’s about to get worst. […]
Read moreNo one knows with certainty where the market is headed on a daily, monthly or yearly basis. While you can always find an example of an active investment manager who beat the market for a year or two, it’s nearly impossible to find evidence of any manager doing so on a consistent basis over the […]
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