The gadget world is buzzing about Apple’s upcoming iPhone X. The other phone, the iPhone 8, is a very minor upgrade indeed.Read More »
Tesla's market-crushing performance this year will not last, according to one Wall Street firm. Jefferies told its client to avoid the electric car maker's shares, saying the company's financial performance will be weak in the coming years. "It is with a bit of a heavy heart that we initiate coverage of Tesla at underperform," analyst Philippe Houchois wrote in a note to clients Tuesday. "Achievements to-date and vision are impressive, but we don't think Tesla's vertically integrated business model can be scaled up as profitably and quickly as consensus thinks and valuation multiples imply." The analyst set a 12-month price target for Tesla shares at $280, representing 27 percent downside from
Oil prices traded close to five-month highs on Tuesday after fresh data showed key Middle Eastern producers continued to cut supply in line with an OPEC-led deal aimed at ending a crude glut. Benchmark Brent crude futures were up 31 cents at $55.79 a barrel at 0957 GMT, not far off a five-month high of $55.99. U.S. West Texas Intermediate (WTI) crude futures were up 44 cents at $50.35 per barrel.
Last week brought a steady stream of telecom news, as leading executives of Comcast, Verizon and AT&T opened up about the state of their industry and hinted toward what plays they intend to make to stay alive at the annual Goldman Sachs Communacopia Conference. Comcast’s CEO Brian Roberts unsurprisingly delivered a full-scale defense of the company’s financial state after Xfinity Services head Matt Strauss warned the company could lose as many as 150,000 video subscribers in Q3 at a Merrill Lynch conference the week before, causing its stock price to sink. Earlier in the conference, AT&T CEO Randall Stephenson laid out a plan to leverage the company’s pending acquisition of Time Warner much like Comcast did its acquisition of NBCUniversal, Broadcasting & Cable reported .