Business & Finance News
Tesla Inc shares soared as much as 15 percent on Thursday, a day after the electric car maker reported surprisingly strong earnings, and financial analytics firm S3 Partners said short-sellers were slammed with more than $1.1 billion in paper losses on the day.
The S&P 500 and Nasdaq rose in afternoon trading on Thursday, driven by Apple shares as the iPhone maker became the first publicly traded U.S. company worth a trillion dollars.
China vowed on Thursday to retaliate if the United States acted on a threat to raise tariffs on the Asian nation’s exports, fueling fears in financial markets that the trade war between the world’s two biggest economies would escalate.
A deepening trade dispute between the United States and China weighed on global stocks and bond yields on Thursday, but a rise in Apple shares took its valuation above $1 trillion, the most for a U.S.-listed company, and helped lift some U.S. indexes.
Apple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.
Allergan Plc on Thursday sued Pfizer Inc to force its larger rival to cover any damages Allergan is forced to pay as a result of hundreds of lawsuits claiming it deceptively marketed an opioid acquired from Pfizer.
Shares of Tesla Inc jumped more than 12 percent on Thursday, after the company convinced investors that it was able to yield positive cash flow and turn a profit, and Chief Executive Officer Elon Musk apologized for past incendiary remarks.
Short-sellers racked up about $1.1 billion in losses on paper on Thursday, pushing their year-to-day performance into the red, after Tesla Inc ‘s shares soared as much as 11 percent a day after the electric carmaker reported results, according to financial analytics firm S3 Partners.
Apple became the first U.S. company to top $1 trillion in market value on Thursday, leading a rebound in technology stocks that helped Wall Street pare losses and turned the Nasdaq positive.
Donna Fenn bought shares of Apple Inc in the 1980s on the recommendation of a stockbroker a good friend of hers was dating. She’d heard of the company because its co-founder Steve Jobs had appeared on the cover of the magazine she worked for.
Apple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.
A deepening trade dispute between the United States and China weighed on global stocks and bond yields on Thursday, prompting investors to shed risky assets in favor of safer ones amid uncertainty over future tariffs.
Kellogg Co reported lower-than-expected quarterly profit margins on Thursday as the cereal maker spent more on marketing and transportation and had to cut prices on snack foods after it stopped distributing them directly to U.S. retailers.
IPhone maker Apple has to date paid two-thirds of the 13 billion euros ($15.1 billion) which EU antitrust regulators said it owes Ireland in back taxes, the company said in a regulatory filing late on Wednesday.
Shares of Tesla Inc jumped 11 percent on Thursday, after the company convinced investors that it was able to yield positive cash flow and turn a profit, and Chief Executive Officer Elon Musk apologized for past incendiary remarks.
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