Apple said Tuesday that it agreed to buy start-up Buddybuild on Tuesday, a move that could improve the workflow for iOS developers — and thus help the company achieve its goal of dramatically boosting its software and services business. The acquisition was first revealed in a BuddyBuild blog post. Buddybuild integrates with common workplace software […]
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This year could prove to be another big year for biotech stocks after an impressive run in 2017. The SPDR S&P Biotech exchange-traded fund (XBI), was among the best-performing U.S.-listed ETFs last year, with a 43 percent annual gain. The only ETF that outperformed it was the iShares U.S. Home Construction ETF. A handful of […]
Read moreStocks are poised for another year of strong gains on the back of 2017’s big jump, according to a simple chart put together by strategists at Credit Suisse. The S&P 500 has gained more than 18 percent in a year 20 times since 1951, the chart shows. Those gains have been followed up by an […]
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Founders Fund, run by Peter Thiel, a PayPal co-founder and early Facebook investor, has bought millions of dollars in bitcoin, The Wall Street Journal reported Tuesday, citing sources familiar with the situation. Bitcoin rose more than 11 percent to trade near $14,711, according to Coinbase, amid the report. The venture capital firm bought about $15 […]
Read moreTesla’s Model 3 production challenges and continued cash burn will likely steal attention from solid deliveries of Tesla’s other models, says one analyst. Tesla early this week could announce deliveries of 2,250 Model 3 sedans, Cowen analyst Jeffrey Osborne estimates in a note Tuesday. That would be 75 percent less than Osborne had previously forecast, […]
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Stocks could pop nearly 20 percent in 2018 according to a contrarian indicator from Bank of America Merrill Lynch which predicted last year’s surprising surge. The investment bank’s so-called Sell Side Indicator measures the average equity allocation recommended by its fellow Wall Street bank peers. The indicator shows Wall Street is still not very bullish […]
Read moreThe Trump administration is calling on Iran’s government to stop blocking Instagram and other popular social media sites as Iranians are demonstrating in the streets. U.S. Undersecretary of State Steve Goldstein says the United States wants Iran to “open these sites.” He says Instagram, Telegram and other platforms are “legitimate avenues for communication.” The United […]
Read moreDepartment stores so far are having a happy new year. Encouraged by momentum from early holiday sales results, and anticipating more good news for the industry later this month, Wall Street was cheering these retailers Tuesday, sending their stocks higher. Shares of J.C. Penney climbed more than 8 percent, Kohl’s and Nordstrom were up about […]
Read moreIn 2009, 1,400 guests stayed in Airbnb for New Year’s Eve. On Sunday for 2017, more than 3 million guests did. That’s according to a recent tweet from co-founder and CEO Brian Chesky. Guests on airbnb over New Year’s The accommodations-rental platform founded by Chesky, Joe Gebbia and Nate Blecharczyk has raised almost $4.5 billion […]
Read moreThe U.S. is capable of reaching of 3 percent GDP this year, but growth is likely to slow after that, strategist David Kelly told CNBC on Tuesday. Productivity “really is the key,” said Kelly, chief global strategist at J.P. Morgan. The unemployment rate could “go down to its lowest level since 1969. Three-point-four percent by […]
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