|Day's Range||7.20 - 8.00|
Hormel Foods, United Airlines, Apple, Ford and Amazon are the companies to watch.
NBC Anchor Natalie Morales and her husband have joint checking and savings accounts, but she has a separate account to trade stocks.
American Elements CEO Michael Silver joins CNBC's "Squawk Alley" team to discuss trade tensions and the rare earth market both in the U.S. and in China.
The new app is focused on doing one thing well: findingphotos for your contacts by scouring social media profiles and updating them
U.S. stocks tumble Thursday, with the Dow Jones Industrial Average 1.7%, amid signs that trade tensions between the U.S. and China are escalating.
Earlier this month, Qualcomm investors thought some of the chip maker’s legal issues were abating after the company’s big agreement with Apple, but on Wednesday, the company was seen as having more uncertainty after a federal court ruling.
With iPhone sales sagging, Apple’s standout business in recent quarters has been services. And therein lies both opportunity—and risk.
Amazon is getting into the health-tracking wearables space, according to a new report. It would help Amazon learn more about customers, and potentially corner the market on a demographic of older, sicker users that mirrors the aging American population. Amazon is reportedly considering a health-tracking wearable — and a lot of people in the health industry think it makes perfect sense.
The Dow Jones Industrial Average continued declining Thursday as the trade war between the U.S. and China intensified. cut its second-quarter guidance amid lower revenue expectations resulting from the U.S. ban on business with Huawei Technologies. beat Wall Street's first-quarter earnings expectations and confirmed its full-year profit guidance.
shares extended declines Thursday, while Tesla Inc. China's Commerce Ministry said Thursday U.S. actions have increased the risk of a trade war, as well as a global economic recession, and cautioned that Beijing will take any needed steps in order to protect the interest of Chinese firms. "It's clear that China will attempt to minimize its reliance on foreign countries to provide critical hardware and software," said ING's Asia economist Iris Pang.
The Philadelphia Semiconductor Index breached its 200-day moving average for the first time since February on Thursday. Huawei, which the Trump administration has labeled a national security threat, is at the center of the trade war with China.
UBS analyst Timothy Arcuri wrote Thursday that purchase intent for Apple Inc.'s looks to be stabilizing in most of the world, except for in China. His firm's survey of smartphone owners found that only 17% of Chinese respondents plan to purchase an iPhone in the next 12 months, compared with 22% when the survey was last conducted in October. "The survey has been directionally accurate in predicting demand for the next 12 months," Arcuri wrote. He said that Apple's China numbers face easier comparisons going forward but are still high in the next six months. "We do think a nationalistic movement - similar to the one we saw at the time of the arrest of Huawei's CFO in November - seems quite probable and would impact iPhone sales," Arcuri wrote of trade tensions between the U.S. and China. He cut his price target to $225 from $235 but maintained a buy rating on shares, which are off 2.4% in Thursday's session. Apple's stock has gained 13% so far this year, as the Dow Jones Industrial Average has risen almost 9%.
Apple stock is getting hit by concerns about the trade war, a lengthening smartphone sales cycle, and slowing Chinese demand for the iPhone.
Bernstein analyst Toni Sacconaghi wrote Thursday that Apple Inc. needs to succeed with its new services offerings given that he predicts the company's existing services business could start showing growth of less than 10% in the next three or four years. "Services growth is critical in driving Apple's overall top line, as well as potentially stabilizing overall company gross margins, which have fallen in each of the last five years," he wrote. "Given that Apple's installed base should be relatively flat going forward, services growth will likely depend entirely on additional [average revenue per user] expansion, whether through new offerings or increased monetization of existing businesses." Sacconaghi sees some potential in newer services. He estimates that Apple's advertising business could bring in $3 billion to $4 billion in revenue over the next three to five years, while AppleTV+ could bring in $3 billion to $6 billion. "On net, we consider these findings to be incrementally bullish, but also heavily contingent on strong execution," wrote Sacconaghi, who has a market perform rating and $190 target on the stock. Apple shares are down 1.8% in midday trading Thursday, though they're up 14% on the year. The Dow Jones Industrial Average has risen 9% in that time.
Mizuho analyst Vijay Rakesh cut his rating on Qualcomm Inc. shares to neutral from buy on Thursday, after a federal judge sided with the Federal Trade Commission and ruled that the company violated antitrust law with its patent royalties. "The limited clarity as the case goes to appeals to the Ninth District and potentially the Supreme Court, and uncertainty if recent license agreements with Apple , Samsung and China NDRC can still be upheld, inserts a significant overhang on Qualcomm," Rakesh wrote. The ruling "could potentially drive EPS down 50%+ in a worst case scenario," he continued. Shares are off 2.6% in Thursday trading after dropping nearly 11% in Wednesday's session. The stock remains up 19% on the year, as the S&P 500 has risen 13%.
The potential scenario of Tesla being acquired attracted renewed attention this week when news broke that Apple reportedly bid $240 a share for Tesla back in 2013. Tesla shares have tumbled now to roughly $197 a share, although taking into account the additional shares Tesla has issued and the debt it's taken on means an acquisition now would still cost significantly more than it would have in 2013, as Real Money columnist Timothy Collins pointed out.
Qualcomm stock’s big plunge this week is a buying opportunity, according to Bank of America Merrill Lynch.
Wall Street's main indexes fell more than 1% on Thursday, as technology stocks were hammered by fears that the U.S.-China trade spat could turn into a tech cold war between the two countries. Trade-sensitive industrials slipped nearly 2%, hurt by losses in shares of bellwethers Boeing Co and Caterpillar Inc.