Oil prices plunged nearly 4 percent on Wednesday, ending the longest bullish streak in five years, as more evidence indicated OPEC exports rose last month. U.S. West Texas Intermediate crude futures fell $1.83, or 3.9 percent, to $45.24 per barrel at 1:26 p.m. ET, erasing much of the previous two sessions’ gains. International benchmark Brent […]
Read moreJefferies is optimistic toward companies such as Raytheon, Orbital ATK, and Aerojet Rocketdyne as tensions with North Korea escalate, leading to greater missile defense spending. “The aggressive nature of the North Korean acts may cause Japan, South Korea, the U.S. Congress and the Administration to fund missile defense at an above average rate,” wrote Jefferies […]
Read moreBaidu, the top Chinese internet search firm, has formed a broad alliance to promote self-driving cars, pitting its Apollo platform against Alphabet’s system, it said on Wednesday, in hopes of getting the vehicles on the road in China by 2019. The alliance includes partnerships with automakers, suppliers, startups, universities and local governments and is built […]
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All the major economies of the globe and the companies that make them up are picking up steam at the same time right now, the first such simultaneous recovery in years. This is making the phrase “global synchronous recovery” among the favorites of bulls on Wall Street. “We expect all the major markets to report […]
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TWO more airports have joined Abu Dhabi in having a laptop ban lifted. On July 5th passengers flying from Dubai or Istanbul to America were told that they will once more be allowed to take large electronic devices into plane cabins, rather than having to stow them in the hold, which they have been required to […]
Read moreGoogle expects to receive its first wind power from Norway by early September, the company told Reuters on Wednesday. Tellenes wind farm, a 50-turbine strong wind farm of 160-megawatt (MW) capacity that is currently under development, will become Norway’s largest wind farm and Google’s biggest in Europe. “We’ll purchase power as soon as the wind […]
Read moreBuffalo Wild Wings‘ proxy battle may be over, but a month later the company is still fighting to convince shareholders that it can forge a successful turnaround. Shares of the company have fallen close to 20 percent since January, including more than 16 percent since early June, when CEO Sally Smith announced plans to resign […]
Read moreOn July 4, Mark Cuban tweeted that it was the anniversary of the date he left Indiana University in Bloomington “with $60, hole in my floorboard, case of oil in the trunk & a floor to sleep on in Dallas.” A few days later, Cuban, then 23, moved in to a $600-a-month five-bedroom apartment with […]
Read moreChipmakers Advanced Micro Devices, Nvidia and Micron Technology posted strong gains on Wednesday, making up three of the top four gainers as of midday. Tech has been the best-performing sector this year, but it has fallen approximately 5 percent over the past month. The strong showing by chip stocks pulled up a broad swath of […]
Read moreThings change when a spaceship comes to town. Tourists stroll by, whipping out their iPhones to get a photo. New businesses move in. And real estate prices go up even more. Apple‘s new home in Cupertino — the centerpiece being a $5 billion, four-story, 2.8 million-square-foot ring that can be seen from space and that […]
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