SmileDirect Club has responded to NBC’s investigative report, which ran last week and called into question the safety of SmileDirectClub’s customers. Yahoo Finance’s Seana Smith and Brian Sozzi discuss the details on The First Trade. …read more […]
Apple warned investors how the coronavirus is hurting its business, reporting that it expects to miss its revenue guidance for the upcoming quarter. Yahoo Finance’s Seana Smith, Brian Sozzi, and Dan Howley break down the details on The First Trade. …read more […]
JPMorgan is reshuffling senior management at the top of its investment bank, naming two new global co-heads and shifting some of its most senior dealmakers into new jobs focused purely on bringing in business, two sources told Reuters. The Wall Street bank has named Viswas Raghavan and James Casey to jointly run its global investment bank, one source said. Global M&A co-heads Hernan Cristerna and Chris Ventresca are among those who will drop management responsibilities and instead join a new executive committee of 18 global chairs, the two sources said, focused on winning business from clients. …read more […]
JPMorgan is reshuffling senior management at the top of its investment bank, naming two new global co-heads and shifting some of its most senior dealmakers into new jobs focused purely on bringing in business, two sources told Reuters. The Wall Street bank has named Viswas Raghavan and James Casey to jointly run its global investment bank, one source said. Global M&A co-heads Hernan Cristerna and Chris Ventresca are among those who will drop management responsibilities and instead join a new executive committee of 18 global chairs, the two sources said, focused on winning business from clients. …read more […]
SAN FRANCISCO/SEOUL (Reuters) – Samsung Electronics Co Ltd’s semiconductor manufacturing division has won a contract to make new Qualcomm Inc 5G chips using its most advanced chip-making technology, two sources familiar with the matter said, boosting the Korean firm’s efforts to gain market share against rival Taiwan Semiconductor Manufacturing Co. Samsung will fabricate at least some of Qualcomm’s X60 modem chips, which will connect devices such as smart phones to 5G wireless data networks. The X60 will be made on Samsung’s 5-nanometer process, the sources said, which makes the chips smaller and more power-efficient than previous generations. …read more […]
Headlines moving the stock market in real time. …read more […]
(Bloomberg) — Franklin Resources Inc. agreed to acquire asset manager Legg Mason Inc. for almost $4.5 billion in a deal that would create an active-management investing giant.Franklin will pay all cash for Legg Mason, the companies said in a statement Tuesday. The transaction values Legg Mason at $50 per share, a 23% premium to the Baltimore-based company’s share price Friday.The transaction is another case of consolidation in the industry, as firms grapple with falling fees and the rising challenge from managers of index-tracking funds. In November, Charles Schwab Corp. agreed to buy TD Ameritrade Holding Corp. for about $26 billion; …read more […]
Could JPMorgan Chase & Co. (NYSE:JPM) be an attractive dividend share to own for the long haul? Investors are often… …read more […]
Top news and what to watch in the markets on Tuesday, February 18, 2020. …read more […]
(Bloomberg) — The Federal Reserve has doled out tens of billions to calm the short-term lending markets after they went haywire in September.But initiatives by the U.S. Treasury Department — to ensure it always has enough cash to pay its bills as the deficit soars to a trillion dollars — could make it harder for the Fed to prevent a repeat.As the department copes with higher spending, large swings in the amount of money it has on deposit with the central bank have already undercut the Fed’s ability to keep bank reserves stable. Last year, one particularly big shift helped …read more […]
Oil fell to below $57 a barrel on Tuesday, pressured by concerns over the impact of the coronavirus outbreak in China on oil demand and a lack of any further action by OPEC and its allies to support the market. Forecasters including the International Energy Agency have cut 2020 oil demand estimates because of the virus. Global experts say it is too early to judge if the outbreak is being contained, despite a fall in new cases in mainland China. …read more […]
(Bloomberg) — Tesla Inc.’s potential to become a key battery supplier for electric vehicles has prompted a bearish analyst on the carmaker to nearly double his bull case for the shares.Morgan Stanley’s Adam Jonas increased his most optimistic projection for Tesla to $1,200 a share from $650. That’s about 50% above the U.S. company’s $800.03 closing price Friday and would give Tesla a market capitalization of $220 billion. Jonas raised his base case target to $500 a share from $360 but reiterated his underweight recommendation.The new bull scenario is based on an “aggressive assumption” that Tesla could win 30% of …read more […]
SAN FRANCISCO/SHANGHAI (Reuters) – Apple Inc’s surprise warning that it will likely fall short of this quarter’s sales target due to the coronavirus epidemic points to much pain for its chip and other suppliers as well as for rivals who also rely on China to build their products. The outbreak, which has infected more than 72,000 and prevented many employees from returning to work due to travel and quarantine restrictions, was reverberating throughout the U.S. firm’s supply chain, a source familiar with Apple’s operations in China said. Stacy Rasgon, a Bernstein analyst, said Apple’s woes probably also …read more […]
(Bloomberg) — Apple Inc.’s shares fell 4.1% in pre-market trading after the company said the fallout from the coronavirus will cause it to miss its sales targets this quarter, sending shockwaves across tech stocks globally.Shares of Apple’s European suppliers fell in early trading, echoing an earlier decline in their Asian counterparts. Europe’s benchmark Stoxx Tech Index fell as much as 1.6% on Tuesday, with Dialog Semiconductor Plc down 6%, AMS AG dropping 5.1% and STMicroelectronics NV falling 4.8%. Equipment makers like ASML Holding NV were also affected by the broader selloff. The shares fell as much as 2.9% in Amsterdam.Mirabaud’s …read more […]
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