General Electric does not have plans to cut its dividend in 2019, people familiar with the situation told CNBC’s David Faber on Thursday. CEO John Flannery told analysts at a industry conference in Florida on Wednesday that GE will “have to see how” the company’s turnaround plan “play outs” before deciding whether to cut the […]
Read moreBest Buy stock fell 6 percent in premarket trading Thursday after the company did not provide an update to its full year forecast, despite reporting better than expected first quarter results. “At this time we are not updating our full year fiscal 2019 guidance provided at the start of the year,” Best Buy CFO Corie […]
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Facebook must comply with European privacy laws in 'real life,' EU's digital policy chief say
The European Union‘s digital policy chief has urged Facebook to stick to its promise and abide by the region’s more stringent data protection rules. In an effort to give consumers greater control over how their personal details are used, Europe is set to impose sweeping changes to data laws on Friday. The introduction of General […]
Read moreThe Federal Reserve needs to raise interest rates about four more times before it reaches an equilibrium level, Dallas Fed President Robert Kaplan said Thursday. Speaking a day after the central bank released minutes from its May meeting, Kaplan said the Fed still has work to do before it can say that it has its […]
Read moreThe vast majority of Apple’s future revenue growth will be generated by its services, according to Morgan Stanley. The firm reiterated its overweight rating for Apple shares, saying investors are underestimating the strength of its App store business. “We counter the [Apple] bears, arguing that App Store growth is sustainable and take rates are defensible. […]
Read moreOne 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,” […]
Read moreU.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 […]
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