Taiwan’s Foxconn, the world’s largest contract electronics maker and supplier to Apple, posted a 14.5 percent fall in first-quarter net profit on Monday, lagging estimates despite a strong quarter for the U.S. iPhone maker. Net profit for the first three months of 2018 for the company known formally as Hon Hai Precision Industry reached $24.08 […]
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Chipotle Mexican Grill’s recovery efforts, including the appointment of a new chief executive and a new delivery partnership, represent steps in the right direction, according to Piper Jaffray. The firm reiterated its overweight rating on the restaurant company’s shares, predicting Chipotle’s stock price could top $530 in 12 months, the highest target on Wall Street […]
Read moreNeuberger Berman portfolio manager Steve Eisman, who predicted the financial crisis, is still finding problematic stocks and investing manias in the financial markets. The investor confirmed his fund is short Canadian financials, Deutsche Bank and Wells Fargo in a Bloomberg Television interview aired on Sunday from the CFA Institute’s annual conference in Hong Kong. “Deutsche […]
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Citi warns that surging oil prices could soon create a 'hostile environment' for stocks
A dramatic upswing in oil prices over recent months could soon create a “particularly hostile environment” for global investors, Citi economists warned Monday. The price of crude has risen over the past two years, from $26 in 2016 to $77 on Monday, as the balance between supply and demand has been steadily tightening. This has […]
Read moreShares of NXP Semiconductors jumped 10.3 percent in the premarket Monday on a report that Chinese regulators will restart a review of Qualcomm’s takeover bid for the company. Bloomberg News reported, citing people familiar with the matter, the Chinese Ministry of Commerce has been asked to hasten the deal’s review as well as Qualcomm’s plans […]
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Uber hires an Amazon executive to head up its UK unit as fight to keep London license continues
Uber named its new U.K. boss Monday amid an ongoing battle with London’s transport regulator over its license to operate in the city. The ride-hailing giant said Jamie Heywood, U.K. director of electronics at Amazon, would join Uber next month as its new regional general manager for Northern and Eastern Europe. London’s transport authority, Transport […]
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Facebook has ricocheted back to prescandal levels and is now within reach of record highs again. The charts tell a different story, says Craig Johnson, chief market technician at Piper Jaffray. “I see a lot of technical damage that has been done in this stock,” Craig Johnson, chief market technician at Piper Jaffray, told CNBC’s […]
Read moreFor the first time, Lyft is disclosing internal market-share numbers, and they show its momentum isn’t letting up after it capitalized on Uber’s disastrous 2017. Lyft says it has 35 percent of the national ride-sharing market, up from 20 percent 18 months ago. That would represent growth of 75 percent. Lyft credits more activations of […]
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A UK spy chief has accused Russia of ‘flagrant breaches’ of international law
One of the U.K.’s top spies has made a rare public speech, accusing Russia of “flagrant breaches of international rules” over a poisoning attack on U.K. soil in March. In a speech to security chiefs in Berlin Monday, MI5 Director-General Andrew Parker said the “reckless attempted assassination of Sergei Skripal, using a highly lethal nerve […]
Read moreCheck out the companies making headlines before the bell: Xerox – Xerox abandoned its planned $6.1 billion deal with Japan’s Fujifilm, in which Xerox would be combined with the Fuji Xerox joint venture. The move is part of a settlement with major investors Carl Icahn and Darwin Deason, who felt that Xerox was significantly undervalued […]
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