The Justice Department has agreed to let AT&T complete its purchase of Time Warner, according to joint government filings, likely clearing the way for the deal to be completed as soon as Friday. A federal judge ruled on Tuesday that AT&T’s $85.4 billion bid for Time Warner was legal, imposing no conditions on the merger. […]
Read moreLegendary hedge fund manager Julian Robertson believes technology stocks are inexpensive compared to their growth prospects. Robertson was asked about valuations in the technology sector. “I don’t think the FANGs or the tech stocks are frothy at all. I think relative to the rest of the market never have [these] stocks been this cheap,” he […]
Read moreAdobe stock fell as much as 5 percent on Thursday after the company reported better-than-expected earnings for the second quarter of its 2018 fiscal year, which ended on June 1. The company will hold a conference call with analysts at 5 p.m. Eastern time. Here’s how the company performed: Earnings: Excluding certain items, $1.66 in […]
Read moreCheck out the companies making headlines after the bell: Shares of Adobe tumbled 3 percent in extended trading. The design software company reported better-than-expected earnings for the second quarter of its 2018 fiscal year and forecast strong third-quarter guidance. Adobe reported earnings per share of $1.66 on revenue of $2.2 billion, versus the $1.54 EPS […]
Read moreFacebook head of communications and public policy Elliot Schrage said Thursday that he is stepping down after a decade at the social media company. “After more than a decade at Facebook, I’ve decided it’s time to start a new chapter in my life. Leading policy and communications for hyper growth technology companies is a joy […]
Read moreNetflix is an unassuming insurrectionist. CEO Reed Hastings is known for the endearing sweaters he wears during his investor calls. Past and present co-workers say he’s respectful and hands-off. Netflix‘s culture is famously lenient: Employees have freedom to work on projects they find important and get unusual perks, including unlimited vacation, no set schedules, and […]
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The world’s second largest cryptocurrency spiked Thursday after a key Securities and Exchange Commission official made it clear that in the eyes of the agency, it’s not a security. The digital currency ether rose 8.8 percent to a high of $520.68, according to CoinDesk. Its price has struggled along with other cryptocurrencies this year, and […]
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Elon Musk is “masterful” in the way he fights back against the short sellers of Tesla stock, CNBC’s Jim Cramer said Thursday. “You can’t lay a glove on him [Musk]. He floats like a butterfly, stings like a bee,” said Cramer, paraphrasing the famous quote from the late boxer Muhammad Ali. Tesla is one of […]
Read moreThe SEC’s point man on cryptocurrencies and initial coin offerings (ICOs) says that bitcoin and ether are not securities but that many, but not all, ICOs are securities and will come under the regulatory control of the SEC and relevant securities laws. “Central to determining whether a security is being sold is how it is […]
Read moreDropbox was on pace for its best day since going public Thursday, with massive trading volumes sending shares up roughly 20 percent at their peak. The stock hit an all-time high above $38 after closing Wednesday below $32. Shares were trading at more than 5 times their normal trading volume. Thursday’s surge lifts Dropbox roughly […]
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