When charted, bitcoin‘s rapid gains resemble how stocks surged into the tech bubble before collapsing. David Ader, chief macro strategist at Informa Financial Intelligence, matched a graph of the Nasdaq Telecommunications Index at its peak in 2000 to bitcoin’s five-year run to all-time highs. “This is the price chart for an overly frothy market, in […]
Read moreSandler O’Neill + Partners says Wells Fargo’s announcement on Thursday that it found 1.4 million more potentially unauthorized account openings than previously thought isn’t as bad as it seems because the bank reviewed a longer time period. “It’s important to keep this in context. Yes the number of affected accounts was up by 65 percent […]
Read moreU.S. regulators this week approved the first drug for a new type of cancer treatment, confirming a theme some stock pickers have found in biotech. “There is a revolution taking place in the practice of medicine, particularly cancer therapy, and most of that innovation is taking place in the biotech companies,” said Chris Sassouni, health […]
Read moreThe National Oceanic and Atmospheric Administration has released a map filled with images of many of the areas affected by Hurricane Harvey. Two of NOAA’s Hurricane Hunter aircraft flew over much of the region and took aerial photos of the flooding and damage. The images are being updated every 12 hours, a NOAA rep told […]
Read moreAmazon and Microsoft, two archrivals in cloud computing and stiff competitors for Seattle-area tech talent, are cooperating a lot more. Earlier this week, we saw the marriage of Amazon’s Alexa virtual assistant and Microsoft’s Cortana. Then, on Thursday, the companies announced they were teaming up so programmers can more easily take code they manage in […]
Read moreThe headlines keep getting worse for Wells Fargo in its fake account scandal, but the latest disclosures actually could represent a turning point. Revelations Thursday that some 3.5 million accounts were affected should constitute a full disclosure of the problem and allow the beleaguered bank to begin putting the scandal behind it, Keefe, Bruyette & […]
Read moreGiving every adult in the United States a $1000 cash handout per month would grow the economy by $2.5 trillion by 2025, according to a new study on universal basic income. The report was released in August by the left-leaning Roosevelt Institute. Roosevelt research director Marshall Steinbaum, Michalis Nikiforos at Bard College’s Levy Institute, and […]
Read moreChip stocks have crushed the market this year, and a Wall Street analyst believes the industry’s strong performance will continue. The iShares PHLX Semiconductor ETF has rallied 22 percent year to date versus the S&P 500’s 10 percent gain through Wednesday. “We hosted about 35 semi/semi-cap management teams at our annual Chicago Investor Summit this […]
Read moreJefferies’ research team named its favorite picks of biotech stocks that are expected to have good news in the coming months. “Biotech continues its Road to Repair and is near 1-year highs,” wrote Jefferies analyst Michael Yee in Thursday’s note to clients. Scrutiny over the sector’s pricing practices has subsided, general interest in the sector […]
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Wall Street hammered shares of Campbell Soup Co. on Thursday for another quarter of lackluster sales. The company’s overall sales fell 1 percent in the fourth quarter from the same time last year. Soup sales fell 4 percent, and profit and revenue fell shy of expectations. Shares of Campbell skidded about 7 percent to their […]
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