Apple Inc. (AAPL) closed below its 50-day moving average on Wednesday, Sept. 20, according to data from Bloomberg. Shares of the tech titan have closed below this threshold 45 times in the past five years, typically gaining 1.2% in the five days following the dip. Some investors consider the 50-day moving average an indicator for short-term uptrends and downtrends. Apple stock last dipped beneath its 50-day moving average in July. But Apple shares remain well above their 200-day moving average, which is considered a longer-term indicator. July 2016 was the last time Apple stock traded below that threshold. Apple's relative strength index indicates that it is neither overbought nor oversold,
Alphabet Inc.-owned self-driving car company Waymo wants rival Uber Technologies to pay up to $2.6 billion in damages over a single instance of alleged trade secret theft, Uber’s lawyers revealed in court yesterday. It’s the largest of nine separate instances of theft that the Google sister company believes it can prove in connection with the case, which could stretch well north of $3 billion in total damages and potentially threaten Uber’s future as a company, Reuters reports. Waymo alleges that former executive Anthony Levandowski stole 14,000 files containing trade secrets in the weeks before quitting to start his own self-driving trucking startup, Otto. Months later, Uber bought Otto for
Siemens AG is negotiating with Alstom SA as well as Bombardier Inc. about potential rail combinations, giving the German engineering company two options to pursue consolidation in the industry, according to people familiar with the matter. While Siemens has been negotiating for months with Montreal-based Bombardier about creating two rail joint ventures, it has more recently also been speaking to French rival Alstom about various tie-ups, said the people, who asked not be named because the discussions aren’t public. Alstom shares jumped 2.2 percent to 31.18 euros at 2:00 p.m. in Paris while Siemens’s were 0.7 percent higher at 116.8 euros in Frankfurt. One option being considered is Siemens injecting its rail business into Alstom in exchange for a large stake in the bigger French entity, two of the people said.