Trading Ideas

Facebook Inc. has racked up plenty of milestones in its pioneering journey. Now the social-media giant is poised to add one it would doubtless rather avoid: the biggest stock-market wipeout in American history. …read more […]

A group of 11 House conservatives on Wednesday introduced articles of impeachment against Deputy Attorney General Rod Rosenstein, the Justice Department official who oversees special counsel Robert Mueller’s Russia investigation. The move comes after months of criticism aimed at the department — and the Russia investigation in particular — from Trump and his Republican allies in Congress. Trump has fumed about Mueller’s probe and repeatedly called it a “witch hunt,” a refrain echoed by some of the lawmakers. …read more […]

A group of Republican lawmakers on Wednesday introduced articles of impeachment to remove Deputy U.S. Attorney General Rod Rosenstein, escalating a fight over Special Counsel Robert Mueller’s investigation of alleged Russian meddling in the 2016 U.S. presidential election. Representatives Jim Jordan and Mark Meadows, who belong to the conservative House Freedom Caucus, joined nine other House members in accusing Rosenstein of hiding investigative information from Congress, failure to comply with congressional subpoenas and other alleged misconduct. Rosenstein, the No. 2 official at the Justice Department, has become a frequent punching bag for supporters of President Donald Trump for …read more […]

In North Korea, summer is not a good time to be a dog. In the sizzling heat, North Korea’s biggest brewery is pumping out twice as much beer as usual, Pyongyang residents are lining up to get their “bingsu” — a syrupy treat made with shaved ice — and restaurants are serving up bowl after bowl of the season’s biggest culinary attraction: spicy dog meat soup. …read more […]

Facebook’s stock plunged Wednesday following the company’s second-quarter earnings report. Facebook’s stock took a beating Wednesday — before being utterly pummeled. Then, during the company’s earnings call with investors, the shares fell even more as CEO Mark Zuckerberg and his colleagues warned of slowing revenue growth and increased expenses in the months ahead. …read more […]

Facebook’s share price fell over 20 percent in after-hours trading today …read more […]

Gilead Sciences Inc said on Wednesday that Chief Executive Officer John Milligan and Chairman John Martin will step down as soon as the end of the year, ending a nearly 30-year run at the U.S. biotech company for both men. Shares of Gilead, which also announced higher-than-expected second quarter profit, fell more than 1.6 percent in extended trading. It said the board is launching a search for a CEO to replace Milligan, who plans to leave at year-end. …read more […]

Qualcomm Inc. Chief Financial Officer George Davis said Apple Inc. likely won’t use its cellular modems in the next iPhones, cutting the chip maker out of one of the consumer electronics industry’s best-selling products. In prepared remarks during an earnings call with analysts Wednesday, the CFO said Qualcomm expects Apple to use a competitor’s modem in the new iPhones and will only use Qualcomm’s modems in older models. Apple sometimes buys parts from suppliers without indicating which specific products they will be put into. …read more […]

The European Union’s General Data Protection Regulation had a tangible impact …read more […]

Shares of Facebook (FB) sank after the company reported lower-than-expected earnings and revenue results in the second quarter. Investors were also likely upset to see some of Facebook’s user figures. …read more […]

BEIJING/NEW YORK (Reuters) – Qualcomm Inc (QCOM.O), the world’s biggest maker of chips for mobile phones, on Wednesday said it intends to drop its bid to buy Dutch chipmaker NXP Semiconductors (NXPI.O) after so far failing to secure approval from China against the backdrop of wider Sino-U.S. trade tensions. The $44 billion bid was the largest-ever merger in the semiconductor industry when announced in October 2016, just days before the election of U.S. President Donald Trump, and would hand Qualcomm a new market as growth in mobile phone demand slows. The deal became embroiled in a trade standoff …read more […]

Wall Street’s major indexes rose on Wednesday after U.S. President Donald Trump said he hoped to reach a trade deal with Europe as he met with European Commission President Jean-Claude Juncker. The S&P 500, the Nasdaq and the Dow all hit session highs as both Trump and Juncker struck a conciliatory tone on trade in their statements to reporters. The Dow, which had been weighed by Boeing Inc’s report of higher costs for its aerial refuelling tanker programme, reversed its earlier downward course. …read more […]

Daimler, the owner of the Mercedes-Benz brand, and China’s Baidu are …read more […]

Traders in the U.S. options market braced for a large near-term move in the shares of chipmaker Qualcomm Inc and NXP Semiconductors with hours to go before the deadline to get China’s nod for a $44 billion (33.42 billion pounds)deal. San Diego-based Qualcomm needs Chinese approval for the deal because the country accounted for nearly two-thirds of its global revenue last year, but Sino-U.S. trade tensions have raised the prospect that the deal could be scuppered. Qualcomm, the world’s biggest maker of chips for mobile phones, and Dutch chipmaker NXP said in April they would call off the …read more […]

Former Fiat Chrysler CEO Sergio Marchionne, who rescued the Italian and U.S. companies and built them into the world’s seventh-largest carmaker, has died, the news breaking moments before the group reported a heavy fall in profit on Wednesday. The announcement of the death of Marchionne, 66, one of the auto industry’s most tenacious and respected CEOs, drew tributes from rivals and tears from his closest colleagues, a collective grief that overshadowed a big sell-off in Fiat Chrysler shares. Marchionne had fallen gravely ill after what the company had described as shoulder surgery at a Zurich hospital. …read more […]