Snap shares could fall below its IPO price in coming weeks, if historical trends hold true. Shares of the Snapchat parent closed Monday 29 cents above the stock’s initial public offering price of $17 a share. The move comes about a month before many insiders who hold shares of the Snapchat parent can begin selling […]
Read moreUBS top analyst Steven Milunovich has pinned Apple success to its sales in China. Optimistic about iPhone 8 sales, Milunovich raised Apple’s price target to $170 and encouraged investors to buy thanks to the iPhone’s estimated 15 percent unit growth in China. A Monday report from UBS models a 30 percent recovery in Chinese iPhone […]
Read moreCostco shares have tumbled over worries the Amazon and Whole Foods Market merger will hurt the retailer’s business. However, one Wall Street firm says it is time to buy the dip. Raymond James raised its rating for Costco shares to outperform from market perform, predicting the retailer’s business will not be “materially impacted” and its […]
Read moreNo one knows what former Uber CEO Travis Kalanick will do next after leaving his company, but he seems to be sitting down for some high-powered lunches. Kalanick was spotted with JPMorgan Chase CEO Jamie Dimon at the Willard Intercontinental Hotel’s Cafe du Parc in Washington D.C. on June 25. Dimon was in town for […]
Read moreApple and Hertz will work together on a fleet of self-driving vehicles, Bloomberg reported on Monday. Hertz shares were up 14 percent after the news. The shares saw a small pop earlier in the day, after Alphabet and Avis announced a similar partnership. Apple was not immediately available to comment on the report. Apple CEO […]
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With banks showing they’re at perhaps their best health since the financial crisis and ready to return heaps of cash to investors, it would be natural to expect a little more market enthusiasm. Instead, the sector has stumbled through the year, the luster of its “Trump trade” status wearing thin and even the prospect of […]
Read moreSocial media giants Facebook, Google‘s YouTube, Twitter and Microsoft said on Monday they were forming a global working group to combine their efforts to remove terrorist content from their platforms. Responding to pressure from governments in Europe and the United States after a spate of militant attacks, the companies said they will share technical solutions […]
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A group of “classic” Dow stocks is surging this year, but a top technician warns that the rally in one name in particular is about to stall. While everyone has been focused on the FANG group, a number of classic Dow stocks have been on a stealth rally. Boeing and McDonald’s are leading the pack, […]
Read moreNintendo is doubling down this holiday season. In addition to the red hot Nintendo Switch, the company said Monday it will have a new standalone mini-console on store shelves, this time focused on the Super Nintendo Entertainment System. News of the classic edition instantly set the gaming world ablaze, with users of Reddit and Twitter […]
Read moreSeaWorld‘s stock fell 6 percent on Monday, three days after the company announced two federal investigations into public statements and trading in the company’s securities after the premier of the documentary “Blackfish.” SeaWorld received subpoenas earlier this month from the U.S. Department of Justice and the Securities and Exchange Commission “concerning disclosures and public statements […]
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