Apple will give a forecast for this current quarter that may shock investors, according to a BTIG analyst Walter Piecyk. “Smartphone upgrade rates remain at record low levels and do not appear poised to rebound in the first calendar quarter,” stated the analyst in a Friday note entitled “How bad will Apple’s guidance be?” Piecyk […]
Read moreAmazon’s ad business will boost the internet giant’s shares, according to one top Wall Street firm. Morgan Stanley increased its “bull case” price target for Amazon shares to $2,100 from $2,000. The new price represents 52 percent upside to Thursday’s closing price. The firm also raised its “base case” forecast for the stock to $1,400 […]
Read moreIn 2018, NASA hopes to put a robot spacecraft on Mars in an attempt to understand how the Red Planet, Earth and other rocky planets are born. NASA has made about a dozen and a half successful voyages to Mars since the 1960s. However, the robot on this trip will be the first to have […]
Read moreTreasury Secretary Steven Mnuchin, under fire for comments he made earlier this week seemingly advocating a weak dollar, told CNBC on Friday the U.S. has a long-term interest in a strong greenback. The dollar earlier had hit a three-week low on comments Mnuchin made Wednesday that the soft greenback would be better for the United […]
Read moreU.S. economic growth unexpectedly slowed in the fourth quarter as the strongest pace of consumer spending in three years resulted in a surge in imports. Gross domestic product increased at a 2.6 percent annual rate also held back by a modest pace of inventory accumulation, the Commerce Department said in its advance fourth-quarter GDP report […]
Read moreCurrency, United States Finance
Microsoft calls for 'new Digital Geneva Convention' after spate of high-profile cyberattacks
Microsoft is pushing for a new set of global norms to try and police government activity in cyberspace, following a spate of high-profile cyberattacks. Speaking at the World Economic Forum (WEF) in Davos, Switzerland, the tech giant’s president Brad Smith said Friday: “This is supposed to be a time of peace… so the world has […]
Read moreCurrency, United States Finance
Top European officials are slamming Mnuchin's comments on a weaker dollar
Another top official at the European Central Bank has made a thinly-veiled swipe at the U.S. administration, following comments made by Treasury Secretary Steven Mnuchin which caused the dollar to slump against the euro. The greenback tanked to a three-year low Wednesday when Mnuchin said that a weaker dollar is beneficial for the country. This […]
Read moreThe titans of global finance at the World Economic Forum are too optimistic about the stock market and the economy, American billionaire real estate investor Jeff Greene told CNBC on Friday. “There are 2,000 people [here], and I don’t think I’ve met one person who’s been negative,” Greene said on “Worldwide Exchange” in an interview […]
Read moreBill Ackman’s Pershing Square has taken a passive stake in Nike, a source tells CNBC. The activist hedge fund will not pressure the shoe apparel company for changes. CNBC was not able to clarify the size of the hedge fund’s Nike position. Ackman’s position in Nike was earlier reported by Reuters, which said the position […]
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The dollar sell-off sparked by Treasury Secretary Steven Mnuchin‘s surpise comments about a weak greenback creates an opportunity for equities investors, one market watcher says. The weaker U.S. dollar has benefited large multinational companies that derive a large chunk of revenue abroad, said Michael Binger, senior portfolio manager at Gradient Investments. “It’s a tailwind for […]
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