Noted hedge fund manager Whitney Tilson said he is shutting down his fund at a time when industry assets are growing but returns continue to lag. Tilson notified clients on Sunday that his Kase Capital Management was shuttering the fund. The fund managed $180 million at its peak —a relatively modest sum by the $3 […]
Read moreMcDonald’s new burgers are a big sales hit with consumers, according to one small Wall Street firm which lit a fire under the stock on Thursday. Longbow Research raised its rating for the restaurant chain to buy from neutral, predicting McDonald’s will report sales above Wall Street expectations. “Given our latest positive checks and favorable […]
Read moreIn the tech industry, while jobs are in high demand and offer some of the highest salaries in the country, the wage gap is still apparent. And not just between men and women but among employees of different races, too. An attempt to equalize pay has reached the top of many companies’ agendas, particularly with […]
Read moreThere is a positive correlation between market performance and companies owned by their founder or family, according to a report from Credit Suisse. Research into around 900 family-owned enterprises found they had stronger revenue and EBITDA (earnings before interest, tax, depreciation and amortization) growth, higher margins and better cash flow returns — averaging 14 percent […]
Read moreRoku skyrocketed as high as 30 percent above its IPO price on Thursday, as the entertainment technology company made its public debut. The company, which makes most of its money from selling streaming video players, listed its $252 million IPO on the Nasdaq under the trading symbol ROKU. The company priced its 18 million share […]
Read moreThe market’s anticipation of big sales of new iPhones drove Apple shares higher this year, but now one Wall Street firm says the smartphone maker’s stock has risen too far. Deutsche Bank reiterated its hold rating for Apple shares, saying Wall Street’s consensus estimate for future iPhone sales are too high. “We remain wary that […]
Read moreDespite improved quarterly profits, Rite Aid shares plunged Thursday after the drugstore operator reported revenue that missed forecasts and said same-store sales fell 3.4 percent. Shares of Rite Aid were down about 11 percent, trading around $2 per share. The stock is down more than 70 percent this year, according to FactSet. Before the opening […]
Read moreSnapchat announced on Wednesday that companies can now buy 3D objects that users can drop into their snaps. Here’s an example: Remember the dancing hotdog that was popular a few weeks back? Now brands can create their own augmented reality-like objects that will appear in clips. tweet Bud Light is one such sponsor, as is […]
Read moreStanley Black & Decker plans to add drones to its commercial security business, and is developing drone-based systems in partnership with a startup called Sunflower Labs, CNBC has learned. Best-known for its power tools, Stanley Black & Decker generated 18% of its revenue last year from security products including electronic locks, perimeter sensors and video […]
Read moreFacebook is now as dominant in advertising as IBM was in the corporate technology market a generation ago, according to one Wall Street firm. Deutsche Bank reiterated its buy rating for Facebook shares, predicting the social media giant will report sales above expectations next year. “Facebook is the new IBM (in a good way). Just […]
Read more