Wall Street’s main indexes hit record highs on Thursday following news that the United States had reached a “deal in principle” with China to resolve a trade war that has rattled markets for nearly two years.
Broadcom Inc’s fourth-quarter earnings beat Street estimates on Thursday, but investors were put off by slowing growth in semiconductor business and a lukewarm revenue forecast for 2020, sending its shares down about 2% in extended trade.
(Bloomberg) — Broadcom Inc. gave an annual sales forecast that signaled optimism that the chip industry has weathered the worst of the China-U.S. trade war, but shares dropped after the company said some units are losing orders, raising concerns about overall growth.Sales in fiscal 2020, which ends next November, will be $25 billion, plus or minus $500 million, the company said Thursday in a statement. That projection includes revenue from its purchase of a Symantec Corp. unit, and was in line with or better than estimates from some analysts who had also factored in that new division’s contribution.On a conference …read more […]
The White House reached a “deal in principle” with Beijing on trade, sources briefed on the talks said on Thursday, but it may be narrower than the “Phase 1” deal U.S. President Donald Trump promised in October.
The United States has agreed to reduce some tariffs on Chinese goods and delay a tranche of tariffs that were slated to go into effect on Dec. 15 as part of a trade deal between the two economic giants, a U.S. source familiar with the situation said on Thursday.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We have processed the filings of the more than 700 world-class investment firms that we track and now have access to the collective wisdom contained in […] …read more […]
Qantas Airways Ltd said on Friday it had selected Airbus SE as the preferred aircraft supplier for its Sydney to London service, with potential orders for up to 12 A350-1000s capable of the world’s longest commercial flight. Airbus will add an additional fuel tank and slightly increase the maximum takeoff weight of the A350-1000 to deliver the performance required for ultra-long haul routes, Qantas said. Qantas also plans to use the A350s for other ultra-long haul routes such as Melbourne-London and Sydney-New York. …read more […]
(Bloomberg) — Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Apple Inc. avoided 15% tariffs on its most important products, the iPhone, iPad and MacBooks, after U.S. President Donald Trump signed off on a trade deal with China.The new import duties were due to kick in Dec. 15 and could have added about $150 to the price of iPhones during the crucial holiday shopping season, according to Wedbush Securities analyst Dan Ives.“Trump delivered an early Christmas present to Apple,” Ives wrote in a note to investors following news of the …read more […]
A U.S. labor board on Thursday approved McDonald’s Corp’s proposed settlement of a major case, allowing the fast-food company to avoid a ruling on whether it is a “joint employer” at its franchises and could be made to bargain with unions.
(Bloomberg) — Surging gold prices in India are keeping customs officials on their toes.Illegal inflows have jumped after the Indian government increased import taxes in July and prices surged to record highs in September. Customs officials have arrested people for attempting to smuggle in gold by concealing it in bags, clothes and their rectums. On one flight alone, officials caught 30 passengers trying to smuggle in 7.5 kilograms (16.5 pounds) of gold into Chennai.“The propensity to smuggle now is very high because every time you increase the tax rate, you give that much more incentive to smugglers,” P.R. Somasundaram, managing …read more […]
SEATTLE/PARIS (Reuters) – Boeing Co has delayed plans to reach a record production rate of 57 737 jets per month next year, industry sources said on Thursday, even before the U.S. FAA announced a new delay in the 737 MAX’s return to service which raised uncertainty over production plans. The U.S. Federal Aviation Administration said on Wednesday that the agency will not approve the grounded commercial jet for flight before year end, and said it was investigating production issues at the Boeing factory in Renton, Washington. FAA chief Steve Dickson, who met with Boeing Chief Executive Dennis Muilenburg on Thursday, …read more […]
Needham analyst raises target price after promising results of drug trial Continue reading… …read more […]
Yahoo Finance’s Seana Smith breaks down Costco’s first-quarter earnings results live. …read more […]
Broadcom Inc forecast full-year 2020 revenue above Wall Street estimates on Thursday, as the company expects to benefit from strong demand for its chips from rising 5G adoption and growth in its software business.
Boeing Co on Thursday abandoned its goal of winning approval this month from the Federal Aviation Administration to unground the 737 MAX after Chief Executive Dennis Muilenburg met with senior U.S. aviation officials.
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