Wal-Mart is “as well positioned as any mass market retailer — in an admittedly imperfect world for mass market retailers,” Goldman Sachs wrote in a Friday note to clients. The investment bank upgraded Wal-Mart to buy from neutral, also adding the stock to Goldman’s so-called Conviction List, with an $84 price target. Wal-Mart shares closed […]
Read moreVisa is hoping to extend its “war on cash” agenda to businesses in the U.K. after announcing new incentives for U.S. businesses to go cashless. The payment technology company revealed on Wednesday that it was launching a “cashless challenge” which would see 50 U.S. businesses receive $10,000 each to help them convert to a cashless […]
Read moreCurrency, United States Finance
Fears over a government collapse leave investors weighing chances of another UK election
Despite weathering a particular nasty political storm in recent months, U.K. leader Theresa May and her weakened government still has many market participants on edge with the potential for another election still a distinct possibility. According to Joan Hoey, the Economist Intelligence Unit’s regional director for Europe, there is “considerable risk of the (U.K.’s) government […]
Read moreFormer Microsoft CEO Steve Ballmer said Friday he can see why investors could be worried the stock market is in a bubble. “Are we in a market bubble or not? I don’t know. I’m silent on it. Where multiples are, etc., you could be a little worried,” Ballmer said on CNBC’s “Squawk Box.” “I killed […]
Read morePop singer Beyonce posted the first photo of her twins on Instagram early Friday, getting 1.7 million “likes” in just one hour. “Sir Carter and Rumi 1 month today,” Beyonce said in the description on the social media website. By 7:30 a.m. ET Friday, the post had gained over 5 million “likes,” 5½ hours after […]
Read moreShares of social media firm Snap were downgraded for a second time this week Friday, adding to an already dismal trading week for the stock. Analysts at Cowen lowered their rating to market perform from outperform and cut their price target to $17 a share from $21. John Blackledge, an analyst at Cowen, said the […]
Read more
Trader Todd Gordon sees more record highs ahead for stocks, and he’s got the charts to back him up on it. The TradingAnalysis.com founder says the S&P 500 will move higher and finally break through the relative quiet of the past few months. “I think the consolidation is about over, as we’re heading into earnings […]
Read moreEarnings season begins unofficially Friday. Here’s what to look for: The stock market is holding up because the global economy is improving and earnings are improving. The market turned around in the second quarter of 2016, which is when the earnings recession came to an end, after earnings declined for five straight quarters. The turnaround […]
Read moreCurrency, United States Finance
UK's easyJet sets up new airline in Austria to protect flights post Brexit
British budget airline easyJet said on Friday it would establish a new airline in Austria to protect its flying rights in the European Union once Britain leaves the bloc. The new airline, easyJet Europe, will be headquartered in Vienna. The budget airline must have a licence and an air operator’s certificate (AOC) in an EU […]
Read moreSingapore’s Global Logistic Properties (GLP) agreed to be acquired by a Chinese private equity consortium backed by senior GLP executives for about S$16 billion ($11.6 billion), choosing it over a rival bid in Asia’s largest private equity buyout. The seven-month auction for Asia’s biggest warehouse operator was marred by complaints from some potential bidders about […]
Read more