Apple-supplier Foxconn will announce a plant in Wisconsin on Wednesday evening, accompanied by President Donald Trumpand Wisconsin Gov. Scott Walker, a source with knowledge of the announcement told CNBC. U.S. House Speaker Paul Ryan, R-Wis., will also be present at the announcement in Washington, a source said. No exact location for the plant has been […]
Read moreDaniel Loeb’s Third Point took a new stake in BlackRock, calling the asset manager a “misunderstood franchise.” The hedge fund touted BlackRock’s oligopoly in the passive investing world, where its 38 percent market share in exchange-traded funds, or ETFs, is rising, according to Third Point’s second quarter investor letter, which was obtained by CNBC. The […]
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Shares of Advanced Micro Devices leaped 10 percent in morning trade Wednesday after reporting strong guidance and better-than-expected earnings. The chipmaker said late Tuesday it expects third-quarter revenue to increase 15 percent year over year, implying $1.5 billion in sales, about $100 million more than what analysts polled by Thomson Reuters expected. AMD also raised […]
Read moreThe “Fast Money” traders shared their first moves for the early hours of trading. Steve Grasso was a buyer of Alibaba. Karen Finerman was a buyer of the SPDR S&P Retail ETF. Dan Nathan was a buyer of AT&T. Guy Adami was buyer of Macy’s. Trader disclosure: On July 25, 2017, the following stocks and […]
Read moreShares of high-end hotel operator Wynn Resorts fell more than 6 percent Wednesday after the company said gambling at their tables decreased in Macau. Wynn said mass market operations, or walk-in business, from Wynn Macau fell 9 percent in the second quarter on a year-over-year basis. The weakness offsets the strong performance from Macau’s VIP […]
Read moreWith a fresh round of record-breaking highs in the stock market has come a surge in investor optimism, and that eventually could create problems. Bullishness in the most recent Investors Intelligence survey hit 60.2 percent, the highest level since late-February. The survey comes from editors of market newsletters and thus provides a snapshot of what […]
Read moreA health start-up called Grail is developing one of the most ambitious technologies in Silicon Valley. And Amazon wants a piece of it. According to two sources familiar, Amazon invested in Grail as a very special kind of future customer for its cloud business. Grail is hoping that its can use deep sequencing technology to […]
Read moreWhen Microsoft unveiled the first Surface tablet five years ago, it was a spectacular failure. At the time, the Apple iPhone was well on its way to conquering the technology industry, and the iPad appeared set to lead an even more devastating invasion of Microsoft’s office-worker kingdom. Microsoft conceived of Surface, an innovative laptop-tablet hybrid, […]
Read moreWall Street sees Facebook posting a higher quarterly profit when it releases financial results after the close of markets Wednesday, driven by surging sales of video and display ads. The company is expected to report second-quarter profit of $1.13 per share, based on the average estimate of 35 analysts who rate its stock. That’s up […]
Read moreThe U.K.’s International Trade Secretary Liam Fox is to visit Mexico Wednesday to launch discussions for a post-Brexit deal as part of the Britain’s ongoing efforts to secure its trading future outside of the EU. Fox is to meet with Mexico’s Minister of the Economy Ildefonso Guajardo Villarreal to discuss continuing trade cooperation between the […]
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