Asian shares looked set to rise on Wednesday, tracking gains seen on Wall Street amid earnings season news and following upbeat remarks from Federal Reserve Chairman Jerome Powell during his congressional testimony. Futures tipped higher opens in Japan and Australia. Nikkei shares traded in Chicago were up 0.83 percent compared to the benchmark’s Tuesday close […]
Read moreStrategists are looking for stocks to recover their highs and set new records across the board, following Nasdaq’s push to an all-time high on what could have been an ugly market day. Early Tuesday, Nasdaq looked doomed to sink after Netflix‘s disappointing earnings sent it to a steep double-digit loss. But Netflix managed to shake […]
Read moreThe modest reaction to Netflix’s subscriber miss (down 5 percent) tells you something: The long-awaited break in FAANG names is not imminent. More importantly, it demonstrates that investors, even momentum investors, do not expect growth expectations to change too much, even with other FAANG stocks. Amazon, Facebook and Alphabet all hit historic highs yesterday. But […]
Read moreOn Wednesday, the European Union is expected to rule that Google illegally used the market dominance of its smartphone software, Android, to stifle competition, hitting the Alphabet-owned company with a hefty fine and aiming to change some of its business practices. Although the EU is reportedly considering a record fine — higher than the $2.4 […]
Read moreWhen the stock of Netflix rebounded on Tuesday, driving the Nasdaq to a 52-week high, CNBC’s Jim Cramer knew he had to explain Netflix’s rally, especially after the company failed to appease investors with its second-quarter earnings report. “Of course the stock was laid to waste,” the “Mad Money” host said. “The mystery here is […]
Read moreAirbnb’s policy and public affairs head Chris Lehane launched into an impassioned diatribe on Tuesday that condemned the “bellhop politics” he said are motivating New York City’s resistance to Airbnb. “Members of city council are nothing more than bellhops for the big hotel corporations. And it’s no surprise this type of bellhop politics has produced […]
Read moreAmazon sellers say they were unfairly suspended right before Prime Day, and now have two bad choices
On July 9, Amazon put out a press release saying that Prime Day, the giant upcoming shopping extravaganza, “has proven to be a huge growth opportunity for many small and medium-sized businesses.” That same day, an online seller named Diana Schappert got an email from an Amazon employee who goes by Paul. It came with […]
Read moreThe tech-heavy Nasdaq Composite hit record highs Tuesday with FAANG names Amazon and Netflix leading the index. But David Katz told CNBC that these “high-flying stocks might slow down soon.” “We think the duller things, like a Cisco, is going to start to do a lot better,” Katz, president and chief investment officer of Matrix […]
Read moreElon Musk is no stranger to headlines, drawing eyes and laughs with outlandish tweets and good-natured antics, but tech VC Gene Munster of Loup Ventures says Musk’s latest stunt crossed a line. “Your behavior is fueling an unhelpful perception of your leadership – thin-skinned and short-tempered,” Loup Ventures’ Munster wrote in an open letter to […]
Read moreTexas Instruments said Tuesday that CEO Brian Crutcher resigned for violating the company’s code of conduct related to personal behavior. TI did not specify exactly what Crutcher did that violated company policies. He had been at the company for more than two decades before assuming the role of CEO. The company also said Chairman Richard […]
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