GoPro lowered guidance Monday and confirmed that it will lay off of at least 250 employees. The company also said it was leaving the drone business, citing future regulation and intense competition, ending sales of its Karma drone camera. Founder and CEO Nick Woodman will reduce his cash compensation to $1 for 2018, according to […]
Read moreNorth Korea’s Kim Jong Un was widely believed to be celebrating his birthday on Monday, a day before Pyongyang is set to hold talks with its southern neighbor for the first time in more than two years. The leader is thought to have turned 35, although the North Korean state does not publicly recognize his […]
Read moreA daily morning look at the financial stories you need to know to start the day. STOCKS/ECONOMY -Stock futures are down after Friday’s record closing highs. We get consumer credit data this afternoon. -President Trump will focus on the economy as he speaks to the American Farm Bureau convention in Nashville today. TRUMP TRADE -President […]
Read moreCheck out which companies are making headlines before the bell: Snap — Analysts at Jefferies downgraded the social media company’s stock to “hold” from “buy,” with analysts noting that “fundamental execution needs to be shown before we can be more positive on the name.” Pandora — Morgan Stanley downgraded the music streaming service to “equal […]
Read moreThe year 2017 was a good year to be an investor. The Dow Jones Industrial Average just passed through the 24,000 level for the first time ever. The S&P 500, a broader measure of the market, finished higher in November, making it 13 months in a row of gains, also a record. Both indices are […]
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Shares of Pandora fell more than 4 percent in the premarket Monday after Morgan Stanley downgraded the stock and raised concern about the company’s revenue growth for 2018. “Growing ad revenue in ’18 is no longer a given as Pandora faces engagement and monetization challenges,” said analyst Benjamin Swinburne, who lowered his rating on the […]
Read moreShares of Caterpillar rose in premarket trading Monday after J.P. Morgan upgraded the stock, citing expectations for another strong year ahead in light of the Republican tax reform. “Although we missed out on Caterpillar’s outperformance in 2017, we believe that there is still significant upside to the stock,” analyst Ann Duignan wrote in a note […]
Read moreAnother Wall Street firm is getting less bullish on Snap. Jefferies on Sunday lowered its rating for Snap shares to hold from buy, citing the company’s full valuation. “We continue to have optimism around Snap’s platform, but fundamental execution needs to be shown before we can be more positive on the name,” analyst Brent Thill […]
Read moreUnited Technologies shares are ready to outperform the Dow Jones industrial average mightily this year after the aerospace leader trailed the benchmark the previous 12 months, Goldman Sachs believes. Goldman upgraded United Technologies to buy from neutral to start the week. The firm’s new 12-month price target of $173 represents a gain of 31.5 percent […]
Read moreRepublicans scored a major legislative victory by passing their sweeping overhaul of the tax code in record time. Now, they face a task that could be just as daunting: selling the law to the American people. After spending millions of dollars last year to advance the legislation, GOP advocacy groups are unleashing millions more to […]
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