Alibaba hit $5 billion in transactions in less than 15 minutes on Singles Day, blowing the opening minutes of past years for the one-day shopping event out of the water. To put that figure perspective, Alibaba made more transactions in first 15 minutes of Singles Day this year than it did during the entire first […]
Read moreLast weekend, in the hours after a deadly Texas church shooting, Google search promoted false reports about the suspect, suggesting that he was a radical communist affiliated with the antifa movement. The claims popped up in Google’s “Popular on Twitter” module, which made them prominently visible — although not the top results — in a […]
Read moreFilm distribution company The Orchard has decided to cancel the release of Louis CK’s new movie I Love You, Daddy, following multiple allegations of CK’s sexual misconduct. News about the cancellation came from Deadline. The Orchard also canceled the New York City premiere of the film yesterday, in advance of a lengthy New York Times […]
Read moreA real-life Model 3 demonstration did not alter one Wall Street analyst’s skeptical view of Tesla. “We had the opportunity to see and test drive the Model 3 at Tesla’s showroom in Red Hook Brooklyn, NY … Fit and finish on the two demo cars we saw – perhaps not surprisingly – was relatively poor,” […]
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Shares of Overstock.com could soar more than 60 percent, according to the primary Wall Street analyst covering the e-commerce company. D.A. Davidson analyst Tom Forte is the only analyst listed on FactSet covering the stock, which has only topped $1 billion in market value in the last few weeks. Forte said in a Thursday note […]
Read moreA new era is dawning in space, and NASA, despite decades of tight budgets, wants to remain the industry’s leader. “The space industry is changing,” Bill Gerstenmaier, the NASA associate administrator for Human Exploration and Operations, said Friday at the New Worlds conference in Austin, Texas. He does not expect “to get another huge budget […]
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Gold futures dropped suddenly, losing almost 1 percent of their value in about 15 minutes. Trading volume also picked up during the selling activity. Gold futures for December delivery were down 0.8 percent as of 11:36 am ET after stabilizing following the sudden decline. It was not immediately clear what caused the drop. Gold was […]
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Next week key technology and retail names are set to release earnings, and traders are making big bets ahead of those reports. In keeping with the recent market trends, they are betting that Cisco moves higher after earnings, while retailer Best Buy will trade down. This week bullish investors bought more than 11,000 Cisco calls […]
Read moreRon Baron thinks he can make billions on Tesla despite criticism that the electric car maker is overvalued and may have trouble delivering on its ambitious plans. The billionaire investor’s firm has invested in Tesla for about three years, and has about a $500 million stake in the carmaker, Baron told CNBC’s “Squawk Box” on […]
Read moreHere’s a round-up of the most important deals in venture capital from the past week. China’s ByteDance, the company behind the news app Toutiao, acquired Musical.ly for a sum between $800 million and $1 billion, according to the New York Times and other reports. Since it was founded in 2014, Musical.ly, has amassed a reported […]
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