Bitcoin will likely outperform stocks and bonds the rest of this year, according to the first major Wall Street strategist to issue a report on the digital currency. “I think bitcoin is an underowned asset with potential for huge institutional sponsorship coming,” Fundstrat co-founder Tom Lee said on CNBC’s “Fast Money” Wednesday. “It has a […]
Read moreAfter disappointing Wall Street out of the gate, Thursday is Snap’s chance to snatch back its status as a social media darling. Snap will report second-quarter financial results after the bell, when analysts expect the company to add more users than last quarter. That could show investors that the company — which is still expected […]
Read moreShares of Blue Apron plummeted Thursday after the company said it was encountering unexpected costs tied to the start up of a new plant in New Jersey. The stock opened trading Thursday down 17 percent. As a result, the meal kit-delivery company said it plans to offset these expenses by reining in marketing spending. Blue […]
Read moreCurrency, United States Finance
Amazon halved the amount of U.K. corporation tax it paid last year while more than doubling turnover during the same period. Accounts filed by Amazon UK Services show the company was billed just £7.4 million ($9.6 mn) for 2016 compared with £15.8 mn in 2015. And once a series of deductions had been added, Amazon […]
Read moreThe number of Americans filing for unemployment benefits unexpectedly rose last week, but the underlying trend remained consistent with a tightening labor market. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 244,000 for the week ended August 5, the Labor Department said on Thursday. Data for the prior week was revised […]
Read moreHold off on buying a Microsoft Surface tablet or laptop. Consumer Reports said on Thursday morning that it’s pulling its recommendation on Microsoft Surface laptops and tablets (including the Surface Pro, Surface Book and Surface Laptop) because of “poor predicted reliability in comparison to most other brands.” “25 percent of Microsoft laptops and tablets will […]
Read moreU.S. producer prices unexpectedly fell in July, recording their biggest drop in nearly a year, weighed down by declining costs for services and energy products. The Labor Department said on Thursday its producer price index for final demand slipped 0.1 percent last month, reversing June’s 0.1 percent gain. July’s drop was the largest since August […]
Read moreIn our brains, we all want to trade like George Soros: Find that one niche, stock or unexplored cave of the market that’s going to yield pure platinum. Yet if you talk with Meir Statman, an expert on behavioral finance, you’re likely to become more static and less Soros. Statman, a professor at Santa Clara […]
Read moreBlue Apron reported a steep second-quarter loss on Thursday as the meal-kit delivery company spends heavily to recruit new customers. Although the number of customers rose 23 percent year over year, the company said its client base shrank by 9 percent between the first and second quarter due to a planned $26.1 million reduction in […]
Read moreConsumer Reports is pulling its recommendation of four Microsoft laptops after one of its surveys found that users were complaining about problems with the devices. The consumer advocacy group said Thursday that it can no longer recommend Microsoft laptops or tablets because of poor reliability compared to other brands. Microsoft said the findings don’t accurately […]
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