Shares of Nordstrom tumbled 3 percent in early morning trading Monday after the stock was downgraded as same-store sales at the upscale retailer’s brick-and-mortar locations decline and its chain of discount stores, Nordstrom Rack, comes under pressure. Cowen and Co. lowered its rating to market perform from outperform and dropped its share price target to […]
Read moreFacebook is buying a British AI firm to help tackle fake news, TechCrunch reported Monday, in what would be a notable change of strategy for the social media site as it continues to face content issues. Facebook has vowed in recent months to beef up human editors and problem-spotting AI as it addresses concerns about […]
Read moreJ.P. Morgan warned General Electric shareholders that the industrial conglomerate’s turnaround strategy will not lead to a higher stock price. The firm reiterated its underweight rating for GE shares, citing the company’s high valuation. Last week the company announced plans to spin off its health-care unit and separate its stake in oil services company Baker […]
Read moreTesla on Monday said it met a closely watched goal for production, however it fell short on deliveries during the second quarter. Shares were trading higher, up more than 5 percent at $361.68 on the news. The stock is now up more than 10 percent over the past year. Tesla said it produced 53,339 vehicles […]
Read moreCurrency, United States Finance
Trump criticized for asking Saudi Arabia to raise oil output as if he was 'ordering a coffee’
President Donald Trump’s call for Saudi Arabia to abruptly increase oil production should be dismissed as political “noise,” one strategist told CNBC Monday. In a tweet posted on Saturday, Trump said Saudi Arabia’s ruler King Salman had agreed to his request and would soon raise oil output by up to 2 million barrels per day […]
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The markets just closed out what proved to be a volatile first half of the year. Federal Reserve rate hikes, escalating trade tensions and tumbling foreign markets all helped push the Dow Jones Industrial Average to a 1.8 percent loss in the first half, the worst first-half performance in eight years; U.S. equity futures pointed […]
Read moreDespite Apple’s recent underperformance on Wall Street, one analyst believes there are no less than five reasons investors should buy shares of the iPhone maker. Highlighting the company’s 2018 product lineup as well as healthy services revenue, Citigroup analyst Jim Suva told clients that news of sluggish demand should subside throughout the summer months. Demand […]
Read moreNetflix will report strong membership growth for its second quarter, according to Baird Equity Research. The firm raised it price target for Netflix shares to $390 from $300. Baird cited its consumer survey, which showed the video streaming company will likely meet the Wall Street subscriber consensus forecast for the June quarter. “Our quarterly U.S. […]
Read moreThe Federal Reserve Bank and the bond market are at odds over the outlook for the U.S. economy and inflation. Despite two hikes of the Federal Funds rate this year, ranging between 1.75 percent and 2.0 percent, long-term rates have not kept pace, causing the yield curve to flatten and stoking fears of a recession. […]
Read moreCheck out the companies making headlines before the bell: Dell Technologies Class V – The computer maker announced a buyout of the shares that track the performance of its cloud software unit, VMWare, which itself is a publicly traded company. The deal exchanges DVMT shares for either cash or shares of a new class of […]
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