The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
The value of the Knicks basketball franchise is surging, according to a top Wall Street firm.
JPMorgan reaffirmed his overweight rating and raised its price target for Madison Square Garden shares to $260 from $245, citing a higher estimate for the Knicks worth.
"We estimate MSG shares trade at ~40% discount to the private market value of its assets," analyst David Karnovsky wrote in a note to clients Friday. "We expect the value of those assets, in particular the New York Knicks and New York Rangers, to rise, driven by higher team revenues and a favorable supply/demand dynamic for professional sports franchises."
MSG shares are up 33.5 percent year to date through Friday compared to the S&P 500's 15.6 percent return. The company's stock closed at $228.90 on Friday.
Karnovsky noted how the Houston Rockets sold for $2.2 billion or a 33 percent premium to the Forbes' value estimate. In addition, 49 percent of the Brooklyn Nets sold for a $2.3 billion valuation or a 28 percent premium to Forbes' estimate.
As a result, the analyst is increasing his appraisal for the New York Knicks value to $3.7 billion from $3.3 billion, the current Forbes' estimate.
The price target "increase is driven by a higher estimated value for the New York Knicks," he wrote.
Madison Square Garden Company owns multiple sports franchises including the New York Knicks, the New York Rangers and the New York Liberty. The company also produces live entertainment in a number of venues such as New York's Madison Square Garden and Radio City Music Hall.
The New York Knicks have outperformed low expectations this year with a 5-4 winning record and breakout performances from Kristaps Porzingis. The budding star is averaging more than 30 points per game.