Chamath Palihapitiya clarified critical comments he recently made about social media, and praised his former employer, Facebook, after a somewhat pointed exchange earlier this week. “My comments were meant to start an important conversation, not to criticize one company — particularly one I love,” Palihapitiya wrote in a Facebook post Friday. The former Facebook executive’s […]
Read moreFoot Locker shares could rocket higher next year as footwear trends bottom in 2017, according to Canaccord Genuity, which upgraded the stock to buy from hold. Calling the retailer’s relationship with Nike “strong and symbiotic,” analyst Camilo Lyon told clients that footwear trends are set to improve with sustained growth in athletic options. “It was […]
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Cboe‘s bitcoin futures looked set to end their first week of trading higher on slightly stronger demand. The futures contract, which trades under the ticker XBT and expires in January, triggered a two-minute trading halt at 5:37 a.m., ET, Friday and was last trading 8 percent higher at $18,170, as of 8:36 a.m., ET. At […]
Read moreFederal Reserve officials do not seem to be buying what tax-cut advocates are selling, namely that economic growth will offset the proposed rate reductions. Even with the sharp uptick in 2018 GDP projections, central bank policymakers view gains in coming years as muted and more in line with the post-financial crisis trend. Following its meeting […]
Read moreThe disastrous year for Teva Pharmaceutical shareholders will improve in 2018, according to one top Wall Street firm. Goldman Sachs raised its rating to buy from neutral for the generic drugmaker, citing the company’s aggressive cost-cutting targets for the next two years. The call sent the stock up 4 percent during Friday’s premarket session. “TEVA […]
Read moreCheck out which companies are making headlines before the bell: Oracle — The business software giant reported adjusted quarterly profit of 70 cents per share, 2 cents a share above estimates. Revenue also beat forecasts and the company also added $12 billion to its share buyback program. Oracle gave weaker-than-expected guidance for growth of its […]
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Tesla recently climbed out of bear market territory, and one chart-minded trader sees an even bigger comeback in the cards. Shares of the electric auto maker surged 7 percent this week after Pepsi announced it preordered 100 of the new Tesla Semi trucks. The stock is still down more than 10 percent from its recent […]
Read moreAirbus confirmed the departure of planemaking chief Fabrice Bregier as part of a series of board moves on Friday to clear the air over succession plans following weeks of speculation surrounding Europe’s largest aerospace firm. The move gives rival Chief Executive Tom Enders a free hand for the rest of what will now be his […]
Read moreBitcoin: it’s electric. Well, indirectly, anyway. Electricity consumption domestically and around the world is rising on bitcoin mining fervor, according to media reports citing Digiconomist data on bitcoin-related energy consumption. Investors can capitalize on the surge in electricity consumption by way of bitcoin mining through buying several names in the energy and power space, according […]
Read moreCurrency, United States Finance
Siemens CEO says company will not break up — but will become a 'fleet of ships' instead
Siemens‘ businesses will become akin to a “fleet of ships” in order to adapt to the digital age, its chief executive told CNBC on Friday. Since taking over as CEO in 2013, Joe Kaeser has sought to divest several of the firm’s businesses. And while he has reportedly rejected the idea that he is breaking […]
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