The busiest week for earnings kicks off on Monday, and investors are eyeing one group in particular: biotech. The biotech ETF, IBB, is up more than 22 percent this year and just posted its best week in a month. The ETF could continue to rally when the top names in the group report earnings this […]
Read moreFacebook CEO Mark Zuckerberg spent his Sunday afternoon smoking meats and doing a Facebook Live from his backyard in Palo Alto, California. While waiting for his brisket to slow cook, he delivered an admonition to Elon Musk, his fellow Silicon Valley billionaire, and others who sound alarm bells over artificial intelligence posing a threat to […]
Read moreBarclays upgraded its rating on Xerox from underweight to neutral on Monday. “We are shedding our long-held concerns over the printing market’s health and also risk of incremental competitive intensity,” wrote Barclays analyst Mark Moskowitz. “In the next 12 months, better market conditions and cost take-outs could help Xerox achieve a series of revenue and […]
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Goldman Sachs warned on Monday that the stock market has an “elevated valuation on almost every metric.” A report written by a team led by chief equity strategist David Kostin stated: “The forward P/E multiple of the S&P 500 has risen by 80% since 2011 (to 18x) and now trades at the 89th percentile compared […]
Read moreRide-sharing company Lyft has announced plans to move deeper into self-driving technology — but that does not put the company at odds with its fleet of drivers, according to one top executive. “We will always need drivers,” Raj Kapoor, chief strategy officer at Lyft, told CNBC’s “Squawk Box” on Monday. He also said that Lyft’s […]
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The “Trump trade,” which propelled stocks to record highs after President Donald Trump‘s election victory, has been flipped upside down. Jack Ablin, chief investment officer at BMO Private Bank, said in a note Monday that “skeptical investors have reversed between 50-75% of their Trump trades, according to our calculations.” Stocks surged after the election on […]
Read moreWelcome to the future? A Wisconsin technology company is offering its employees microchip implants that can be used to scan into the building and purchase food at work. Whether or not to get a chip is up to the employee to decide. Three Square Market, a company that provides technology for break-room or micro markets, […]
Read moreFor generations, the Horowitz family has cheered on the revolution. Phil and Blanche were New York schoolteachers who belonged to the Communist Party, and dreamed of a socialist heaven on earth. Their son, David, went on his first march in 1948, at age 9. As a young man in the 1960s he helped create the […]
Read moreEuropean Commission preparations to retaliate against proposed new U.S. sanctions on Russia that could affect European firms are likely to face resistance within a bloc divided on how to deal with Moscow, diplomats, officials and experts say. A bill agreed by U.S. Senate and House leaders foresees fines for companies aiding Russia to build energy […]
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Sporting goods retailer Hibbett Sports issued a profit warning Monday that sent its shares spiraling down more than 25 percent and delivered a blow to some of the company’s peers. Hibbett said it expects its comparable-store sales — a metric closely watched by Wall Street for retail stocks — to fall about 10 percent during […]
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