Amazon may reach the $1 trillion market value milestone in the next year, according to a top Wall Street firm. Morgan Stanley reiterated its overweight rating for Amazon shares, presenting a “bull case” 12-month price target of $2,000 per share or roughly a $1 trillion market cap. “Amazon’s high margin [revenue] disclosure speaks to the […]
Read moreIn human years, this bull market may be just a teenager. According to Federated Investors portfolio manager Steve Chiavarone, the secular bull market is still in its early years. He estimates there’s at least a decade left in it, citing a change in demographics. “Millennials are entering the workforce, but their wages are going to […]
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Oil industry should not worry about peak demand until 2040, OPEC secretary general says
OPEC sees no reason for investors to expect oil to hit peak demand before 2040, the organization’s secretary general said Monday. Speaking at the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC), General Mohammed Barkindo said that the cartel’s projections did not foresee oil demand cresting over the coming decades. Instead, he argued, a dramatic increase […]
Read moreBillionaire Microsoft co-founder Bill Gates is to invest $50 million in the Dementia Discovery Fund, a venture capital fund that brings together industry and government to seek treatments for the brain-wasting disease. The investment — a personal one and not part of Gates’ philanthropic Bill & Melinda Gates Foundation — will be followed by another […]
Read moreCheck out which companies are making headlines before the bell: General Electric — GE announced a 50 percent cut in its quarterly dividend to 12 cents per share. The announcement came ahead of GE’s Investor Day, at which CEO John Flannery will lay out his long-term vision for the company. The Wall Street Journal reports […]
Read moreBitcoin rallied more than 11 percent in just over half a day on Monday, following a dramatic plunge in the cryptocurrency over the weekend. The digital currency started trading at $5,857.32 on Monday and rose to $6,545.20 by 11:50 a.m. GMT (6:50 a.m. ET), according to data from industry website CoinDesk. This marks a nearly […]
Read moreU.S. chipmaker Qualcomm is making preparations to reject rival Broadcom’s $103 billion bid as early as this week, four people familiar with the matter said on Sunday, setting the stage for one of the biggest-ever takeover battles. Qualcomm’s board of directors could meet as early as Sunday to review the unsolicited acquisition offer and decide […]
Read moreSingles Day has become the world’s largest shopping event as Alibaba announced its sales hit $25.4 billion this weekend. The figure not only surpassed the Chinese e-commerce giant’s own record, but is also topped Black Friday and Cyber Monday U.S. sales combined. But Singles Day, marked on Nov. 11, is not just for the Chinese […]
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OPEC likely to extend supply cuts in bid to rebalance the market, UAE energy minister says
United Arab Emirates Minister for Energy Suhail al-Mazroui said Monday that he expected OPEC and non-OPEC countries to extend global supply cuts at a closely-watched meeting at the end of the month. Speaking at the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC), al-Mazroui said: “My prediction is OPEC will continue to do what it takes […]
Read moreConcorde-style supersonic flight could be legal across the United States as early as next year. Boom Supersonic is developing a 55-seat plane which it claims will be able to more than halve the flight time from San Francisco to Washington DC to just two-and-a-half hours. The company is aiming for commercial entry by 2023. One […]
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