Reuters•11 minutes agoApple, Philip Morris, chips lead slide on Wall Street
A warning from Taiwan Semiconductor (TSMC), the world's largest contract chipmaker and Apple supplier, on soft demand for smartphones and on the semiconductor industry's growth this year sparked a tumble in chip stocks. Apple's shares also fell 2.4 percent, with analysts telling Reuters that TSMC's warning was related to the iPhone maker. Apple was the biggest drag on the Dow Jones Industrial Average and the Nasdaq.
- Bloomberg•16 hours ago
Former Yahoo CEO Marissa Mayer Creates Tech Startup Incubator
Former Yahoo Chief Executive Officer Marissa Mayer is starting a technology business incubator, Lumi Labs, with longtime colleague Enrique Munoz Torres.The venture will focus on consumer media and artificial intelligence, according to the company’s website
- FX Empire•11 hours ago
Bitcoin Loses Out to Bitcoin Cash – Is it the Beginning of the End?
The Bitcoin bulls didn’t get the memo on Wednesday, with Bitcoin only managing a 3.56% rise on day, partially reversing Monday and Tuesday’s losses, to end the day at $8,169.5. A morning rally saw Bitcoin break out from the 23.6% FIB Retracement Level of $7,996.57 to hit a morning $8,168.8 high, breaking through the first major support level of $8,098.87 before seeing a pullback to an early afternoon $7,907.4 to call on buyer support at the 23.6% FIB Retracement Level of $7,996.57. A late afternoon rally saw Bitcoin hit an intraday high $8,237.2, testing the day’s 1st major resistance level for a 2nd time and this time managing to hold on through to the day’s end.
- TheStreet.com•4 hours ago
What Schlumberger, Halliburton, Baker Hughes Earnings Will Do for Energy Stocks
Energy sector earnings season starts rolling later this week, and as always, the party will kick off with the so-called big three oilfield services providers: Schlumberger Ltd. Schlumberger is a holding in Jim Cramer's Action Alerts PLUS. While oilfield services stocks have been riding the energy stock outperformance wave of late, investors are mostly still sitting on the sidelines, according to Tudor, Pickering, Holt & Co. analysts.
- Yahoo Finance•19 hours ago
How Amazon Prime's 100 million subscribers stacks up against Netflix, Spotify and Apple
Amazon CEO Jeff Bezos’s annual shareholder letter, released on Wednesday evening, included an unexpected reveal. Your first question might be to wonder how that number compares to other subscription services for streaming content. To be sure, these are not apples-to-apples comparisons, since Prime is not only for video—in fact, it’s likely that the vast majority of Prime members pay for the service to get the shipping benefits, not for Prime Video.
- Bloomberg•2 hours ago
Philip Morris Results Stoke Global Tobacco Stock Sell-Off
Philip Morris International Inc. led a sell-off in tobacco companies in the U.S. and London after its first-quarter revenue trailed analysts’ estimates. The stock plunged the most on record, pushing shares of competitors including Imperial Brands Plc, Altria Group Inc. and British American Tobacco Plc deeper into negative territory for 2018. The latest results from the maker of Marlboro and other top cigarette brands underscored the struggle the industry has had shifting to new products as global smoking rates decline.
- Bloomberg•18 hours ago
AT&T's Merger Boss Mocks U.S. Claim About Comcast Coordination
An AT&T Inc. executive told a judge that the company’s contentious relationship with Comcast Corp. is evidence that the two rivals wouldn’t coordinate to withhold content from upstart distributors if AT&T’s acquisition of Time Warner Inc. goes through, as the U.S. claims.
- Yahoo Finance•2 days ago
How people from different parts of the world spend their extra money
Personal income in the United States has been steadily rising. Consumers in North America are most likely to spend on technology, according to a new global survey from Acceleration Partners, a UK-based digital marketing agency. A disproportionate amount (34%) of North American respondents said tech-related purchases were their biggest sector spend.
- InvestorPlace•yesterday
5 Unsteady Dividend Stocks That Will Win Longer Term
This includes some pretty great dividend stocks. There are now plenty of dividend stocks that have wonderful long-term futures that have only been blurred by the recent downturn and volatility. There’s nothing wrong with them, their cash flows or other important dividend-related metrics.
- CNBC Videos•yesterday
Blue Origin believes it can get tourists into space by th...
CNBC's Morgan Brennan talks with Blue Origin CEO Bob Smith about the company's new engine for it's latest suborbital rocket and new opportunities in space exploration.
- Yahoo Finance•2 days ago
David Hogg tells Twitter followers to boycott BlackRock and Vanguard
David Hogg, an 18-year-old high school senior and survivor of the mass shooting at Marjory Stoneman Douglas High School, is now an outspoken gun law activist. He took to Twitter on Tuesday to encourage a boycott of BlackRock (BLK) and The Vanguard Group. BlackRock, Invesco (IVZ) and Vanguard are the top three institutional holders of American Outdoor Brands (AOBC), the parent company of Smith & Wesson Corp., one of the world’s largest gun manufacturers. BlackRock and Vanguard are also the largest holders of gunmaker Sturm Ruger (RGR).
Reuters•yesterdayExclusive: OPEC's new price hawk Saudi Arabia seeks oil as high as $100 - sources
DUBAI/LONDON (Reuters) - Top oil exporter Saudi Arabia would be happy to see crude rise to $80 or even $100 a barrel, three industry sources said, a sign Riyadh will seek no changes to an OPEC supply-cutting deal even though the agreement's original target is within sight. OPEC is closing in on the original target of the pact - reducing industrialised nations' oil inventories to their five-year average. There is no indication yet, however, that Saudi Arabia or its allies want to wind down the supply cut.
- Zacks•2 hours ago
Why Did Apple and Nvidia Stock Open Lower on Thursday?
Shares of tech giants Apple AAPL and Nvidia NVDA opened nearly 2% lower on Thursday after Taiwan Semiconductor Manufacturing TSM, a key chip partner for both companies, posted lower-than-expected revenue guidance for the second quarter. Taiwan Semiconductor said Thursday its revenue for the June quarter will likely fall in the range of $7.8 billion to $7.9 billion, lagging our consensus estimate of $8.5 billion. The company posted adjusted earnings of 59 cents per share for the first quarter, missing the Zacks Consensus Estimate by a penny.
- Bloomberg•2 days ago
Elaine Wynn Seeks New Board Members After $25 Million Settlement
Elaine Wynn is looking to reconstitute the board of Wynn Resorts Ltd., the casino company she co-founded, after a sex-harassment scandal toppled her ex-husband Steve Wynn from his job as chief executive officer. Wynn, who settled all litigation with her ex-husband this week in exchange for $25 million, said she wanted to remake the board with a majority of new members, according to a regulatory filing Tuesday. Steve Wynn stepped down from the luxury resort operator in February after a series of articles detailed his alleged harassment of female employees at the company. Wynn subsequently sold all of his shares and settled a long-running dispute with his ex-wife that now allows her to vote or sell her 9 percent stake in the company.
- Bloomberg•yesterday
Rodent Infestation, ‘Spread of Filth’ Found Before Egg Recall
Before a U.S. farm voluntarily recalled 207 million eggs, government inspectors found rodents scurrying in manure pits, equipment that was coated with grime and food debris, and outside a swarm of “large flying insects too numerous to count.” Unsanitary conditions were found during multiple inspections of a Rose Acre Farms facility in Hyde County, North Carolina, that allowed for the “proliferation and spread of filth and pathogens throughout the facility that could cause the contamination of egg processing equipment and eggs,” according to a report from the U.S. Food and Drug Administration detailing inspections. A review of the farm’s pest control records flagged an ongoing rodent infestation,
- MarketWatch•yesterday
In one chart: The VIX says the stock-market low may be in
The Cboe Volatility Index is a guide to human nature, says a prominent Wall Street bull. Canaccord Genuity analyst Tony Dwyer has characterized the stock market’s early February plunge as a phenomenon known as a “shock drop,” in which a correction is sharp enough to cause the 10-week rate of change in the Cboe Volatility Index (^VIX), or VIX, to spike to 125.
- Bloomberg Video•16 hours ago
China Said to Delay Publication of Asset Management Product Rules
Apr.18 -- China is said to delay the release of the new rules governing its $16 trillion asset management products industry. Bloomberg's Stephen Engle reports on "Bloomberg Daybreak: Asia." (Headline and description changed to reflect the latest news on China's asset management business rules.)
Reuters•yesterdayOut of bankruptcy, Seadrill eyes closer ties with oil service firms
Offshore oil driller Seadrill plans to emerge from Chapter 11 bankruptcy in late June or early July to catch the rising wave of rig market activity, its chief executive told said on Wednesday. The company won U.S. court approval on Tuesday for its multi-billion dollar debt restructuring plan after reaching a deal with more than 40 banks, unsecured creditors and shipyards. Obviously, we would like to do it as fast as possible," CEO Anton Dibowitz told Reuters.
- The Street•4 hours ago
AAP Exclusive: Apple, Intel, and Boeing May Be the Next Trade War Targets
"President Trump and his trade team .....are now hell-bent on taking on China," said Jim Cramer in his during his March Action Alerts PLUS members' call. He is not happy about the President's handling of the pending trade war and says, "[The President] seems to have no real clue of what it means to bluff at this level." For more on what a trade war can do to your wallet, watch this video now! He now is worried that China's small scale retaliation will become bigger and affect AAP Portfolio names like Apple (AAPL) (an AAP Portfolio holding) Intel INTC, and Boeing (BA) . Watch the clip above to hear his thoughts on what happens to our markets. "Want more exclusive investing insight from Jim
InvestorPlace•6 hours ago5 Stock Trades to Make First Thing This Morning
Here are the stock trades for tomorrow catching our eye as we prepare for Thursday’s trading session. As a result, SQ stock is moving higher and powerfully pushed through $50. The market (as if on queue) flushed out a number of traders by plunging MU stock down to $48, running stop-loss orders all along the way.
- Yahoo Finance•yesterday
Chevy will soon let you pay for gas from inside your car
Refueling your Chevy car or truck is about to get a little easier with the launch of Chevy’s new in-dash payment system. The in-dash service will only be available at participating Shell (RDS-A, RDS-B) stations in the near term, but will reach all stations by the end of the year. Chevy says it’s also working with ExxonMobil to bring the service to that company’s gas stations, though no timeline has been announced.
Associated Press•yesterdayStarbucks to close stores for an afternoon for bias training
Starbucks, moving swiftly to confront a racially charged uproar over the arrest of two black men at one of its stores in Philadelphia, plans to close more than 8,000 U.S. stores for several hours next month to conduct racial-bias training for nearly 175,000 workers. Philadelphia police released a recording of the call from the Starbucks employee that led to the arrests. In the recording, a woman is heard saying, "Hi, I have two gentlemen in my cafe that are refusing to make a purchase or leave." She gives the address of the Starbucks store, and the entire call lasts less than 30 seconds.
- Zacks•3 hours ago
What's in Store for Texas Instruments (TXN) in Q1 Earnings?
Texas Instruments TXN or TI is scheduled to report first-quarter 2018 earnings on Apr 24. The company beat the Zacks Consensus Estimate in three of the trailing four quarters, with an average positive surprise of 7.04%. In fourth-quarter 2017, earnings of $1.09 per share were in line with the Zacks Consensus Estimate.
- Zacks•4 hours ago
Japan's Economy, Exports Likely to Pick Up: 5 Stocks to Buy
President Donald Trump and Japan’s prime minister Shinzo Abe on Wednesday agreed to start a fresh dialogue and establish a new framework for trade and investment between the two countries. The trade talks are aimed at balancing United States’ trade deficit with Japan. Trump has been critical of Japan in recent times, describing the terms of trade between them as “not fair” because of the huge trade deficit with that country.
- Bloomberg•3 hours ago
CEO Awarded $60 Million to Lead Linn Energy Firm Past Bankruptcy
The same day Linn Energy Inc. exited bankruptcy, it awarded Chief Executive Officer Mark Ellis a $60 million compensation package, more than three times the amount Exxon Mobil Corp. paid its CEO.Ellis’s pay included an equity grant worth $58 million,
