The weakening in the ad market is due to digital disruption, activist investors and the low cost of capital money, WPP CEO Sir Martin Sorrell told CNBC. WPP’s latest earnings report on Wednesday showed a larger than estimated decline in consumer product company advertising spending. The stock declined more than 10 percent on the news. […]
Read moreAlphabet’s Waymo subsidiary is training self-driving cars by using virtual worlds and a real-world testing ground near Merced, California, according to a report in The Atlantic. The report offers new insight into the massive effort Alphabet is expending in self-driving cars, and suggests how hard it will be for other companies to catch Waymo, which […]
Read moreCopper has soared about 19 percent this year, and Vertical Research Partners’ Mike Dudas says the metal has more room to run. “It has had a really strong move over the last 6 to 7 weeks, so I wouldn’t be surprised to see if there’s a little bit of a bad data point in China, […]
Read moreAfter more than a decade as an asset manager for large multinational banks, a Brazilian, Márcio Appel, wanted to make it on his own. The political and economic upheaval in his country was not going to deter him. Even on the heels of a new scandal erupting in May that rocked the markets, the hedge […]
Read moreFacebook founder Mark Zuckerberg reveals he’s still learning how to lead the social media giant from its time as a 10-person tech startup based in a Harvard dorm room to the over 20,000 employees who work for the company today. But it’s his mentality as an engineer and hacker that he suggests his employees can […]
Read moreOutgoing GoDaddy CEO Blake Irving has led teams at Yahoo, Microsoft, Compaq and Xerox. But perhaps his most famed accomplishment is getting rid of the bikinis. GoDaddy’s brand was once synonymous with scantily clad women in SuperBowl ads. Just after Irving became CEO, GoDaddy ran an ad showcasing the “sexy side” of the company — […]
Read moreMKM Partners raised its return expectations for Alibaba over the next year, declaring that the Chinese e-commerce company has the “best fundamentals of the mega-caps.” “We continue to rank Alibaba our top pick among Internet mega-caps and think the company has the best fundamentals of the group,” wrote MKM managing director Rob Sanderson. “We think […]
Read moreInvestors aren’t taking President Donald Trump‘s threat to pull out of a trade agreement with Canada and Mexico “fully to heart,” closely followed trader Art Cashin said Wednesday. Speaking Tuesday evening at a rally in Arizona, the president said he doubts the United States can reach a deal to renegotiate the North American Free Trade […]
Read moreCitron Research’s Andrew Left, who gained attention for successful bets against companies including Valeant Pharmaceuticals, reiterated his negative call and $45 price target for Motorola Solutions. Left confirmed he is currently short shares of the communications equipment maker in an email to CNBC. Tweet Link A Motorola Solutions decline to $45, would represent a fall […]
Read moreWPP PLC’s report of a stunning slowdown in ad spending by consumer product companies hit other advertisers and sent a chill across the stocks of traditional media companies. The world’s largest advertising company lowered its full year forecast for net sales growth to 1 percent or even less, blaming the pull back on lowered spending […]
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