One measure of technology stocks is now higher than during the dotcom boom. The S&P information technology sector grouping broke above $990 on Wednesday. If it closes above $988.49, it would exceed its March 27, 2000, levels, according to FactSet. The constituents of that group have changed considerably since then: Facebook for instance, wasn’t even […]
Read moreInvestors should give IBM the benefit of the doubt as it transitions from its old business model, CNBC’s Jim Cramer said Wednesday. Shares of Dow component IBM were 4 percent lower on Wednesday after the iconic tech firm reported its 21st-straight quarter of revenue decline. But Cramer said many on Wall Street are misguided on […]
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A million barrels of oil doesn’t buy much good will these days. Oil markets got a temporary boost on Tuesday on reports that Saudi Arabia could cut its crude exports by a further 1 million barrels. It was the kind of news that could once sustain a session-long surge, but almost as quickly as futures […]
Read moreShares of United Continental fell almost 4 percent Wednesday after the airline gave third-quarter guidance that implied it may miss Wall Street’s earnings estimates for the period. The airline said it expects revenue per available seat mile (RASM) — a key metric for airlines — to range between a 1 percent decline and 1 percent […]
Read moreShares of IBM dropped around 4 percent in early traading Wednesday, a day after the multinational technology company announced yet another revenue decline. IBM reported second-quarter revenue of $19.29 billion on Tuesday, marking the 21st-straight quarter of declining revenues. Sales for the company also missed a Reuters estimate of $19.46 billion. IBM, the fifth-largest Dow […]
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French military chief quits, first major sign of dissent under Macron's young presidency
France’s head of the armed forces resigned Wednesday citing cuts to the military’s budget under new President Emmanuel Macron. The move is the culmination of a public spat between the two men. In his resignation statement, translated by Reuters, General Pierre de Villiers said that: “In the current circumstances I see myself as no longer […]
Read moreFacebook is adding the option for publishers to lock Instant Articles shared on the social media service behind a paywall later this year, said Campbell Brown, the company’s head of news services, at a conference yesterday according to The Street. The new feature will reportedly be built on top of the company’s existing Instant Articles […]
Read moreAmazon.com has done away with a controversial clause in its cloud computing contracts that prohibited customers from suing the company over patent infringement, according to an updated version of the Amazon Web Services customer agreement released on Thursday. The so-called non-assert clause had been a point of friction for years for numerous companies that were […]
Read moreTwo new books from the Harry Potter universe are set to be released as part of a British exhibition that celebrates the 20th anniversary of the launch of the series. The British Library’s Harry Potter exhibition, “A History of Magic,” opens in October and runs through February 2018. In an earnings statement released Tuesday, British […]
Read moreAnalysts are split on whether investors should buy or avoid Chipotle after its shares dropped on the news that customers fell sick after eating at one of its restaurants. The restaurant chain’s stock has been struggling to recover from outbreaks of food-borne illnesses in 2015. In Wednesday’s premarket, the share price was down 1.2 percent. […]
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