Snap chief financial officer Drew Vollero is stepping down on May 15, to be replaced by Amazon’s Tim Stone, a key transition for a company that has struggled to find its footing since going public last year. Snap rose nearly 2 percent in after-hours trading after the transition was announced. Stone, a Vice President of […]
Read more“You don’t need lipstick, lipstick needs you,” reads the bubblegum pink sign posted on one of many doors to Manhattan’s Javits Center — the 1.8m-square-feet glass fortress that is the busiest convention centre in the US. Inside, hairdressers offer complimentary styling, courtesy of Target, the discount store, and teenage girls line up to make their […]
Read moreNvidia shares will thrive this year as the chipmaker should generate earnings per share above expectations, according to Bank of America Merrill Lynch. The firm reiterated its buy and ‘top sector pick’ ratings for Nvidia, citing the company’s product leadership in several large growth categories. “Expect beat/raise … We remain positive on NVDA ahead of […]
Read moreU.S. department store chains’ stocks tumbled Monday after Deutsche Bank issued a new report saying there’s “limited upside” for investors in the sector. “[W]hile Holiday marked a solid improvement across the group, we think valuation is now ahead of itself as we believe fundamental upside is limited,” analyst Paul Trussell said. Shares of Sears Holdings […]
Read moreWhen Jeff Bezos wants to call his team’s attention to a customer complaint, the Amazon founder and CEO forwards the email directly to his executives, with a note that consists of a single character: “?” “That question mark is just a shorthand for, ‘Can you look into this? Why is this happening? What’s going on?'” […]
Read moreA “60 Minutes” investigation has put the price of one of Mallinckrodt’s drugs under the microscope, but it isn’t weighing on the pharmaceutical giant’s stock price. The report, which ran on CBS on Sunday, focused on a lawsuit filed by the city of Rockford, Illinois. The lawsuit said the combined cost for two young patients […]
Read moreApple‘s vote of confidence from investing icon Warren Buffett is just one sign that the company has entered a new era, Gene Munster told CNBC’s “Squawk on the Street” on Monday. Two things are changing in the “Apple story,” according to Munster, formerly a well-known Apple analyst on Wall Street and now a venture investor. […]
Read moreGoldman Sachs added McDonald’s to its Americas Conviction List as it sees the stock recovering from its recent pullback. Analyst Matthew Fassler said the company’s stock decline “represents an opportunity to buy,” with same-store sales growth — a key metric for restaurant companies —”re-accelerating.” McDonald’s shares are down about 3 percent year to date, underperforming […]
Read moreBitcoin prices dropped Monday following criticism from some of the investment world’s best-known billionaires. The cryptocurrency hit a low of $9,188.66 Monday after climbing above $9,900 over the weekend, according to CoinDesk. Bitcoin has recovered roughly 40 percent from the lows around $6,700 last month but has been unable to break the $10,000 level. Berkshire […]
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Consumer staples are getting slammed this year, but one top technician says the charts look so bad, they might actually be good. “[Consumer staples are] down 13 percent on the year right now, [and] at one point a peak-to-trough drawdown of 17 percent,” Cornerstone Macro’s Carter Worth said Friday on CNBC’s “Options Action.” “I’m going […]
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