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GOLDMAN SACHS: Bitcoin is never coming back

Goldman Sachs’ investment strategy group says bitcoin will continue to decline. It also says the virtual currency meets none of the three definitions of usable money and makes up just 0.3% of global GDP. Despite headline-making plans to open a bitcoin trading desk earlier this year, Goldman Sachs still isn’t sold on the virtual currency. …read more […]

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Sprint, T-Mobile in early stages of regulatory review, no decisions yet: source

U.S. antitrust enforcers are in the early stages of reviewing T-Mobile US Inc’s (TMUS.O) plan to buy Sprint Corp (S.N) for $26 billion, and have reached no conclusions on how many wireless carriers the country needs, a source familiar with the situation said on Monday. Sprint shares were up 8.7 percent at $6.11 and T-Mobile rose 6.7 percent to $65.65 in late-afternoon trading, after the New York Post reported that U.S. regulators believed that just three national providers were needed, removing an obstacle to the deal. The Justice Department did not immediately respond to a request for comment. …read more […]

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Arista to pay $400 million to Cisco to resolve court fight

The settlement resolved U.S. lawsuits filed by Cisco alleging Arista copied its intellectual property. The deal also called for Arista to drop a lawsuit alleging Cisco engaged in anticompetitive conduct to preserve its dominant share of the ethernet switch market. Founded in 2004 by former Cisco engineers, Arista has emerged as a rival to Cisco in the multibillion-dollar market for ethernet switches used in data centers. …read more […]

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Why Rite Aid Stock Is Tumbling Today

Rite Aid’s recent update to its outlook includes lowering its Adjusted EBITDA expectations to between $540 million and $590 million. The outlook update from Rite Aid also includes its net loss now coming in between $125 million and $170 million. The final change to Rite Aid’s outlook for the full year of fiscal 2019 includes lowering its earnings per share expectations. …read more […]