With the iPhone X described as the biggest step forward for smartphones since the original iPhone, the release of the special-edition device was supposed to be a watershed moment for Apple AAPL. During the company’s fiscal first quarter, Apple sold about 77.32 million total iPhones, down about 1% year-over-year and well below our consensus estimates (also read: Apple's First-Quarter iPhone Sales Drop 1%, Miss Estimates). Apple’s decision to dual announce the iPhone 8 and iPhone X was considered a gamble at the time, and given its sales figures in the ever-important holiday quarter—along with the myriad of reported production issues related to the X—that gamble does not seem to have paid off.
Warren Buffett’s Berkshire Hathaway Inc. is slimming down its newspaper empire with more job cuts. BH Media Group is reducing staff by 148 employees and not filling 101 vacant positions, representing a total of about 6 percent of its workforce, the company said Tuesday in a statement. The organization is seeking to trim expenses because of declining advertising revenue.
The U.S. stock market only had a taste of the potential damage from higher bond yields earlier this year, with the biggest test yet to come, according to Morgan Stanley. “Appetizer, not the main course,” is how the bank’s strategists led by London-based Andrew Sheets described the correction of late January to early February. Although higher bond yields proved tough for equity investors to digest, the key metric of inflation-adjusted yields didn’t break out of their range for the past five years, they said in a note Monday.
Qualcomm (QCOM) tops our list. The chip maker is raising its bid for NXP Semiconductors (NXPI) to $44B. The Wall Street Journal reports that Qualcomm hopes the $5B increase will boost NXP shareholder support for the deal.
For Airbus SE’s second-in-command Fabrice Bregier, the delivery of the first A350-1000 model came with a bitter-sweet tinge: his last day at the European manufacturing giant after being overlooked for the top job. Bregier, 56, at least had the satisfaction of seeing the A350 through to the end of its launch phase, with the stretched -1000 model representing the culmination of a program whose production problems took some of the gloss off its sales success during his final years at the company. “I could have stayed a bit longer, but I think I am one of the top managers who has spent the longest time running Airbus,” Bregier, Airbus’s chief operating officer and the head of its main jetliner arm, said at a ceremony in Toulouse, France, after handing the plane to Qatar Airways.
Shares in Rite Aid fell 30 percent in the six months after Walgreens agreed to buy half of its stores, with investors judging the smaller pharmacy chain was in danger of being left with little scale and negotiating power to beat down drugmakers and insurers on price. Its stock initially surged by as much as 25 percent on Tuesday after the announcement of Albertsons purchase, which bring it more than 2,500 retail locations and a pharmacy benefits business. Albertsons said its buyout, which will allow it to unify its own retail pharmacy operations under the Rite Aid brand, would give it greater clout with patients and drug industry players alike.
It’s time to seriously consider getting the Amazon Prime Rewards Visa Card? Customers are used to paying a little more when they visit Whole Foods, but now some shoppers will actually get cash back. On Tuesday, Amazon announced that eligible Prime members using the Amazon Prime Rewards Visa Card from Chase will earn 5% back on purchases at Whole Foods.
AK Steel Holding Corporation AKS was a big mover last session, as the company saw its shares rise nearly 14% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for
Here are the charts of the day for Tuesday February 20, 2018. Rite Aid (RAD): Shares soaring in early trade. Privately-held Albertsons plans to buy the rest of Rite Aid that isn’t being sold to Walgreens Boots Alliance. The combined companies would be
Venezuela will launch a pre-sale of its commodity-backed "petro" cryptocurrency on Tuesday. President Nicolas Maduro hopes the country's own digital currency will help it to make financial transactions and get around Western sanctions. Both the United States and the European Union have imposed economic sanctions on Venezuela over their opposition to its autocratic government. Last year, the Economist Intelligence Unit's Democracy Index downgraded Venezuela from a "hybrid regime" to an "authoritarian regime" due to its "continued slide towards dictatorship." Venezuela's petro token will be backed by its oil, gas, gold and diamond reserves, according to the government. The country's cryptocurrency
Following investing strategies of billionaire investor Warren Buffett is everyone’s dream. Buffett’s Berkshire Hathaway Inc. BRK.B has added more than 100% over the last five years (as of February 15, 2018), way better than the 73% gain of the broader
Buffett and Munger have been critics of fees charged to investors by fund managers. Warren Buffett’s right-hand man, Charlie Munger, the vice chairman of Berkshire Hathaway (BRK-A, BRK-B), said they had an “easier world” than the young investors of today face. “I don’t think you’re going to get the kind of results we got by just doing what we did,” Munger, 94, said at the Daily Journal’s (DJCO) annual meeting in Los Angeles last week.
The Trump administration Tuesday spelled out a plan to lower the cost of health insurance: give consumers the option of buying less coverage in exchange for reduced premiums. The proposed regulations would expand an alternative to the comprehensive medical plans required under former President Barack Obama's health law. The plans would come with a disclaimer that they don't meet the Affordable Care Act's safeguards, such as guaranteed coverage, ten broad classes of benefits, and limits on how much older adults have to pay.
A judge on Tuesday denied AT&T Inc's request to see White House communications that might shed light on whether U.S. President Donald Trump pressured the Department of Justice to try to block the wireless carrier's purchase of Time Warner Inc . The decision is a potential setback to AT&T's plan to argue in an upcoming trial that the department's decision to oppose the acquisition was politically motivated, perhaps spurred on by Trump's public criticism of the deal and his frequent attacks on Time Warner's CNN.
Hackers who tried to steal nearly $2 million from India's City Union Bank this month used tactics similar to those employed in the unsolved cyber heist of $81 million from Bangladesh's central bank in 2016, City's CEO said on Monday. The unknown hackers disabled the City printer connected to global payments platform SWIFT on Feb. 6, preventing the bank from receiving acknowledgement messages for three fraudulent payment instruction sent that evening until the next morning. The next morning, bank officials managed to reconcile the previous day's transactions and found out "three transactions which were not originated from our bank".
Qatar Airways CEO Akbar Al-Baker speaks about its launch of the aircraft, as well as his company's upcoming earnings report.
Chip giant Broadcom (AVGO) a short while ago issued a statement slamming Qualcomm’s (QCOM) announcement this morning it would raise its bid for NXP Semiconductors (NXPI), saying Qualcomm is transferring value from its own shareholders to those of NXP. Broadcom stock has turned around from earlier losses, now up $4.19, or 1.7%, at $253.08, Qualcomm stock is down $2.60, or 4%, at $62.25, and NXP stock is up $7.35, or 6%, at $125.85. It’s been a busy morning for Broadcom and Qualcomm, who are locked in an M&A battle, with Qualcomm trying to buy NXP, and Broadcom conducting a hostile takeover effort to get Qualcomm. Qualcomm said this morning it agreed with NXP’s board to raise its bid to $127.50
Kelcy Warren, the billionaire chairman of Energy Transfer Equity LP, dismissed complaints that he unfairly benefited from a 2016 private issuance of units in one of the pipeline company’s partnerships that was tied to the failed merger with Williams Co. Unitholders, including a Pennsylvania retirement fund, contend Warren and other Energy Transfer executives engineered the $1 billion deal involving only select investors so that Warren could reap more than $200 million. “Everybody thinks this is a bad deal,’’ Warren told a Delaware judge Tuesday. But the issuance helped stabilize the U.S.’s largest pipeline operator during a shaky time in an oil market downturn, he added. Warren’s lawyers said
Trading Nation: These investors are buying into the chip rip 3:10 PM ET Fri, 16 Feb 2018 | 02:43 Chip stocks are ripping higher, and one market watcher says the semiconductor space could be in for an even bigger rally. The SMH semiconductor ETF last week posted its best week in more than two years. The rally, led by Applied Materials, Lam Research and Micron, comes as the group has fallen roughly 5 percent from highs late last month. Despite that sell-off, SMH is still up about 34 percent in the last year. Applied Materials and Lam Research are the "two 800 pound gorillas in the space. They both reported and are positive on industry spending in 2018," Mike Binger, portfolio manager at Gradient
Merck & Co. Inc. MRK, -1.66% shares dipped 1.6% in morning trade Tuesday after the company lost a patent case to Gilead Sciences Inc. GILD, +0.59% Gilead shares rose 0.4% in morning trade. The case, which involves alleged patent infringement by Gilead's hepatitis C therapy Sovaldi on a patent held by Merck's Idenix Pharmaceuticals unit, was decided against Merck late Friday. Previously, a jury ruled in favor of Merck and granted the company $2.5 billion. However, the judge reversed the decision late Friday in a surprise decision and "determined the Idenix patent to be invalid for lack of enablement," said RBC Capital Markets analyst Brian Abrahams. Without the damages charge and associated royalties,
In addition, Zacks Equity Research provides analysis on Facebook FB and Twitter TWTR. With analysts raising NVDA's EPS estimates for the coming year from a consensus $3.95 to $4.67 after their November quarterly report -- and several high end projections near $5.00 -- NVDA shares around $200 were trading about 40 times the most optimistic forward estimates.
A cryptocurrency enthusiast willing to reap profits through the standard mining process either goes solo using his/her own mining devices, or joins a mining pool where his/her mining resources are clubbed with those of other pool miners to improve the mining output with enhanced processing. This article discusses how mining pools work. The world’s oldest currency, physical gold, is dug out of the earth through the process of gold mining. It discovers hidden gold that is not yet available. Successful mining allows the individual digger or the mining company to own the gold. Cryptocurrency mining works similarly, as virtual coins can be discovered digitally using computer programs. The bitcoin
Hasbro (HAS) has made bank off Star Wars toys over the last few years. But, sales came under pressure during the holiday season as the latest film installment, Star Wars Ep. VIII: The Last Jedi, didn't live up to some fans expectations. The rare sales miss for Hasbro from a bread and butter franchise raised some concerns on Wall Street of movie toy fatigue. Hasbro CEO Brian Goldner told TheStreet he remains bullish on the franchise. Editors' Pick: Originally published on February 19, 2018.
Here are some of the companies with shares expected to trade actively in Tuesday’s session. Stock movements reflect premarket trading. —Down 7.5%: Walmart said sales rose steadily over the busy holiday shopping period, but online sales growth slowed during the quarter as the world’s largest retailer tries to fend off competition from Amazon.com Inc.. —Up 6.2%: Chip […]