Five recent upside surprises from formerly struggling stocks made Jim Cramer more open to the idea that maybe old dogs can, indeed, learn new tricks. “Every day in this market it seems like some old-line company surprises us with good news, causing investors to buy their stocks hand over fist. The resuscitation of these falling […]
Read moreChinese technology company Foxconn will invest $10 billion to create a state-of-the-art manufacturing facility in Wisconsin, chairman Terry Gou said. Foxconn said the deal will create 3,000 jobs. Wisconsin Gov. Scott Walker said the agreement could eventually grow to 13,000 jobs, with 22,000 indirect and induced jobs and 10,000 construction jobs. Walker said it could […]
Read moreAmazon has started a secret skunkworks lab dedicated to opportunities in health care, including new areas such as electronic medical records and telemedicine. Amazon has dubbed this stealth team 1492, which appears to be a reference to the year Columbus first landed in the Americas. The stealth team, which is headquartered in Seattle, is focused […]
Read moreHoward Marks, one of the most respected value investors out there, starkly warned his clients to avoid high-flying digital currencies. “In my view, digital currencies are nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will […]
Read moreIn the latest hearing in the Uber vs. Waymo lawsuit on Wednesday, San Francisco district judge William Alsup addressed Uber’s complaint that Google co-founder Sergey Brin is trying to avoid deposition. Alsup said, “you go back and tell that guy he better show up,” after voicing frustration at Alphabet executives claiming they are “too busy.” […]
Read morePayPal shares gained in after-hours trade after the company posted better-than-expected earnings and guidance on Wednesday. Here’s how the company did compared to what Wall Street expected: EPS: 46 cents vs. 43 cents expected, according to Thomson Reuters Revenue: $3.14 billion vs. $3.09 billion expected, according to Thomson Reuters PayPal subsidiary Venmo more than doubled […]
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A potential ban on scrap metal imports in China could be a boon for imported refined copper in that country, the world’s biggest consumer of the metal. The price of copper shot up more than 2 percent in trading Wednesday, rising for the fourth straight day to the highest level in more than two years. […]
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A Russian man suspected of being the anonymous mastermind behind one of the world’s oldest crypto-currency exchanges and of laundering at least $4 billion has been arrested in Greece, police and sources said on Wednesday. Police sources identified him as Alexander Vinnik, 38, who was arrested after a tip-off in a small beachside village in […]
Read morePC and printer maker HP, Inc., on Wednesday said that Meg Whitman has stepped down as chairwoman of the company’s board of directors. Whitman remains CEO of the enteprise-focused HPE. The two companies were created in 2015 from the split of Hewlett Packard. Levi Strauss & Co. CEO Chip Bergh is replacing Whitman on the […]
Read moreIncreased regulatory attention on digital currencies will help them develop into a mature investment product, several analysts said. The U.S. Securities and Exchange Commission signaled late Tuesday that U.S. securities law may apply to initial coin offerings, sales of new digital coins to fundraise for projects based on the same blockchain technology as bitcoin. “As […]
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