The backlash against Silicon Valley is growing. Steve Ballmer, the former CEO of Microsoft, has some advice for the likes of Facebook and Google: Accept you've screwed up, and work with regulators to fix it. As Silicon Valley battles scandals and increasing regulatory scrutiny, Former Microsoft CEO Steve Ballmer has warned Facebook and Google not to make the same mistake Microsoft did.
A rat took up residence in a State Bank of India ATM in the town of Tinsukia, India. The ATM was out of order for days after it stopped dispensing money, according to Reuters. Patrons reported the issue, and when technicians looked into the problem, they found the dead rat and shredded money.
The marijuana legalization movement is picking up speed. Uruguay became the first nation in the Americas to permit recreational marijuana usage in 2014. Marijuana stocks were waiting for a bigger market to come online.
Micron Technology Inc. (NASDAQ:MU) did it again. Strong earnings, and a stronger forecast from CEO Sanjay Mehotra, continued to power Micron stock upward, but bears won’t let it go past the fundamentals so the memory chip maker is still a buy. On June 20 Micron reported net income of $3.823 billion, $3.10 per share, on revenue of $7.8 billion for the quarter. This compares to earnings of $1.65 billion, $1.40 per share, and revenues of $5.56 billion a year ago.
Southwest Airlines Co. LUV is faced with a new trouble related to the April 17 flight 1380 incident. Per media reports, a group of eight passengers aboard the Southwest flight in April has filed a lawsuit against the carrier in the Supreme Court of New York. The tragic incident in April forced the carrier to make an emergency landing at the Philadelphia International Airport due to an engine failure causing a fan blade to detach.
The "Fast Money" traders break down their past coverage of bitcoin.
Filling your mind with pleasing images of retirement — what you’ll do, where you’ll reside — can divert attention from the daily grind. Counting the days until retirement gets easier if you’re used to priming your brain to work to your advantage. Joanne Waldman is director of training at Retirement Options, which certifies retirement coaches and offers retirement readiness assessments.
General Electric’s (NYSE:GE) operating segment, GE Transportation, recently secured orders for 50 new locomotives from the Mexican and US rail subsidiaries of Kansas City Southern (NYSE:KSU). Notably, these locomotives are expected to be delivered by
Legendary hedge fund manager Paul Tudor Jones became famous after predicting the market crash of October 19, 1987, known as “Black Monday” when the Dow Jones dropped more than 22%. “The crash of ’87 was really interesting just because the crash of ’87 probably never would have happened except for, again, the market infrastructure at that point in time,” Jones said in a conversation with Goldman Sachs CEO Lloyd Blankfein as part of the firm’s “Talks at GS” series. Jones, 63, began his career at E.F. Hutton as a commodities trader in the cotton pits in 1976 before transitioning to macro trading and founding his hedge fund, Tudor Investment Corp in 1980.
Tesla is closing down solar panel sales and installation facilities in nine states, Reuters reports, citing current and former employees of the company’s solar business as well as internal documents. The documents name 14 solar panel installation locations of what was previously SolarCity across nine states as well as a suspension of a retail partnership with Home Depot. This partnership, Tesla employees told Reuters, brought in half of the solar business’ sales.
Foxconn, which makes electronic devices for Apple and Amazon in China, will open its first U.S. facility in Winsoncin. Foxconn, the world’s largest electronics contract manufacturer and a major Apple (APPL) supplier, defended its $10 billion investment in the U.S. amid the trade dispute between the U.S. and China. “If you want to work around customers, to satisfy [their different needs], or take advantage of [the] consumer electronic markets, there are no other places to go but China and the U.S,” said Louis Woo, special assistant to Foxconn Chairman Terry Gou, at the SelectUSA Investment Summit in National Harbor, Maryland, on Thursday.
Special Counsel Robert Mueller asked a judge to bar Paul Manafort from arguing at his upcoming criminal trial that the government’s investigation into his business activities was selective or vindictive. Donald Trump’s former campaign chairman should also be blocked from speculating about Mueller’s motive or saying the Justice Department probed the same activity in 2014 “and simply chose not to pursue it,” the U.S. said in a filing Friday in federal court in Alexandria, Virginia. “The boundaries of the special counsel’s authority are irrelevant to the jury’s consideration of whether the evidence proves the elements of the tax, foreign account, and bank fraud offenses,” the U.S. said in the filing.
From late April to early June, Chinese e-commerce giant Alibaba Group (NYSE:BABA) went gangbusters. It also acquired Daraz and continued to expand the commerce business into Southeast Asia. BABA stock was soaring from $170 to $200 and up.
Perhaps it is because trading stocks can often mirror the thrill of winning big at the blackjack tables, or maybe it is because Las Vegas conjures images of the world’s most flashy brands and businessmen. Regardless of the reason, it is clear that gambling
Opinion: Memory chip maker’s stock gains after it combats every doomsday scenario with results and forecastBloomberg News/Landov”The industry we operate within is structurally different than in the past,” Micron Chief Executive Sanjay Mehrotra said Wednesday. Micron Technology Inc. once again countered all the doubts surrounding its stock Wednesday, as executives forcefully contended that the current strength in memory markets is not just a cyclical upturn. Micron (MU) on Wednesday reported strong profit and sales gains with a forecast that showed confidence that demand for memory chips will continue, along with higher prices of those components.
Jim Iuorio, TJM Institutional Services managing director, and Bob Iaccino, Path Trading Partners chief market strategist, discuss why crude prices are soaring following OPEC's decision to hike oil production.
Shares of Caterpillar CAT closed up marginally on Friday, ending a streak of nearly two straight weeks of losses on the back of heightened trade war tensions between the U.S. and China. With that said, now might be the time for investors to consider buying Caterpillar stock based on its currently stellar valuation picture and strong growth prospects. Caterpillar has been one of the Dow’s worst performers during its recent downbeat stretch, which stands in stark contrast to its standing over the last few years.
President Donald Trump on Friday threatened to escalate a trade war with Europe by imposing a 20 percent tariff on all U.S. imports of European Union-assembled cars. Trump posted his threat on Twitter the day European Union reprisals took effect against U.S. tariffs on European steel and aluminum. The EU targeted $3.2 billion in American goods exported to the 28-member bloc.
There’s a lot to like about Kinder Morgan (NYSE:KMI) at the moment. While KMI is still heavily leveraged, the balance sheet is improving. KMI stock looks reasonably cheap compared to peers, and plans for an increasing dividend suggest the yield could exceed 7% (against current prices) in just two years.
U.S. equities were pressured on Thursday as a Supreme Court decision against technology stocks hit the FAANG group particularly hard. The result is the Dow Jones is poised extend its longest losing streak since the 1970s as the Nasdaq Composite finally shows some of the weakness the rest of the market has been showing for weeks. Value investors are sniffing around, looking for an entry point.
Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Micron Technology, Inc. MU, NVIDIA Corp. NVDA, Texas Instruments Inc. TXN, Diodes Inc. DIOD and Silicon Laboratories Inc. SLAB. Micron Technology, Inc. reported stellar sales and profits in the fiscal third-quarter 2018, fueled by high demand for chips that store data in mobile devices and components.
Friday June 22, 2018The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Procter & Gamble (PG), AbbVie (ABBV) and IBM (IBM). These research reports
United Parcel Service, Inc. UPS received encouraging news on the labor front when the company inked a tentative deal with the International Brotherhood of Teamsters — a labor union in the United States and Canada. Notably, this provisional agreement with the teamsters union pertains to the wages and other benefits of multiple employees (mostly package handlers and drivers) in Louisville.
Make no mistake about it, the Tesla (TSLA) shorts are going to be covering. We saw the first wave of shorts cashing in on a recent share price tumble, but what followed was only the start of what could be an epic run. The shorts won’t be helped if Tesla misses sales estimates. I know that flies in the face of common sense, but the fact is that TSLA has come up short of expectations far more than it has beaten the number. Tesla announces quarterly car sales on or about July 6, 2018 – but the numbers don’t really matter. To be clear, the numbers kind of matter, but we already know they are pretty good. They will show solid growth for all models, but that isn’t the story.
Surging profit growth and a better-than-expected sales forecast has led many analysts to gush over Micron Technology Inc.’s ( MU) prospects. In a research note, reported on by Barron’s, UBS’s Timothy Arcuri continued to take a bearish tone on the high-flying chipmaker. After applauding Micron for its “solid execution,” Arcuri warned that risks of a “big correction” for the memory chip market remain on the horizon for next year, prompting him to reiterate his sell rating on the stock and a price target of $42, representing 29% downside from Thursday’s closing price of $59.44.