Costco shares have tumbled over worries the Amazon and Whole Foods Market merger will hurt the retailer’s business. However, one Wall Street firm says it is time to buy the dip. Raymond James raised its rating for Costco shares to outperform from market perform, predicting the retailer’s business will not be “materially impacted” and its […]
Read moreNo one knows what former Uber CEO Travis Kalanick will do next after leaving his company, but he seems to be sitting down for some high-powered lunches. Kalanick was spotted with JPMorgan Chase CEO Jamie Dimon at the Willard Intercontinental Hotel’s Cafe du Parc in Washington D.C. on June 25. Dimon was in town for […]
Read moreApple and Hertz will work together on a fleet of self-driving vehicles, Bloomberg reported on Monday. Hertz shares were up 14 percent after the news. The shares saw a small pop earlier in the day, after Alphabet and Avis announced a similar partnership. Apple was not immediately available to comment on the report. Apple CEO […]
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With banks showing they’re at perhaps their best health since the financial crisis and ready to return heaps of cash to investors, it would be natural to expect a little more market enthusiasm. Instead, the sector has stumbled through the year, the luster of its “Trump trade” status wearing thin and even the prospect of […]
Read moreSocial media giants Facebook, Google‘s YouTube, Twitter and Microsoft said on Monday they were forming a global working group to combine their efforts to remove terrorist content from their platforms. Responding to pressure from governments in Europe and the United States after a spate of militant attacks, the companies said they will share technical solutions […]
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A group of “classic” Dow stocks is surging this year, but a top technician warns that the rally in one name in particular is about to stall. While everyone has been focused on the FANG group, a number of classic Dow stocks have been on a stealth rally. Boeing and McDonald’s are leading the pack, […]
Read moreNintendo is doubling down this holiday season. In addition to the red hot Nintendo Switch, the company said Monday it will have a new standalone mini-console on store shelves, this time focused on the Super Nintendo Entertainment System. News of the classic edition instantly set the gaming world ablaze, with users of Reddit and Twitter […]
Read moreSeaWorld‘s stock fell 6 percent on Monday, three days after the company announced two federal investigations into public statements and trading in the company’s securities after the premier of the documentary “Blackfish.” SeaWorld received subpoenas earlier this month from the U.S. Department of Justice and the Securities and Exchange Commission “concerning disclosures and public statements […]
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Rich Ross, technical analyst at Evercore ISI, is getting bearish on the whole market, but not too bearish, predicting a pullback of 3 percent on the S&P 500 and 5 percent on the NASDAQ-100. The call is based partly on complacency, partly on the time of year, and partly on what he sees are disturbing […]
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To some degree, Wall Street economists and strategists are tasked with telling the future. Predictions are often based on historical research and analysis, and their firms (and clients) hope they’re on the mark. But according to Deutsche Bank’s chief international economist, Torsten Slok, forecasts for one of the economy’s benchmark measurements, the rate on the […]
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