Stocks surged after President Donald Trump said he will be meeting with his Chinese counterpart, Xi Jinping, at the upcoming G-20 summit.US Marketsread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
A Bloomberg News report Tuesday morning said the White House had looked at such a move back in February.Marketsread more
Trump starts the campaign season in an unusual spot for a president: overseeing a strong economy but facing low approval ratings.Politicsread more
The move is part of a larger trend that saw the survey's 179 participants move away from risk and toward positions that reflect fear of a coming economic slowdown spurred by a...Marketsread more
The major Wall Street analysts say Facebook's Project Libra has a bright future.Marketsread more
These are the stocks posting the largest moves midday.Market Insiderread more
Trump went after Mario Draghi for opening the door to more monetary stimulus in Europe, which would weaken the euro relative to the dollar.Marketsread more
Democratic frontrunner Joe Biden on Monday appealed to a billionaire Republican donor for fundraising help in his presidential campaign. But the financier, Trump-supporting...Politicsread more
Shares of Beyond Meat soared 18% Tuesday morning, surpassing $200 per share and setting a new all-time high.Food & Beverageread more
It's the president's own policies that are contributing to slower global and domestic growth.Marketsread more
Apple's capital return program will get much larger, according to one Wall Street firm.
UBS reiterated its buy rating on Apple shares, saying the recently passed tax reform law will free up new funds for the company's shareholder return program.
"Apple clearly is a beneficiary of overseas cash repatriation," analyst Steven Milunovich wrote in a note to clients Monday. "Repatriation of ~$250bn of offshore cash should increase the rate of Apple's share buybacks since the company believes the stock remains attractive in that its services business is undervalued."
Milunovich reaffirmed his $190 price target for Apple shares, representing 9 percent upside to Friday's close.
He noted the company has been buying back about 5 percent of its shares in recent years. He estimates repatriation will unleash an incremental $25 billion and Apple's annual free cash flow will stay around $60 billion. As a result, Milunovich believes the company could buy back $122 billion worth of its shares through 2019.
"Supply chain noise and mixed demand data points create near-term uncertainty and debates continue regarding how Apple performs with a maturing iPhone business," Milunovich wrote. "The potential that Apple could buy 14% of the company at $90bn net cash and even more at lower levels of net cash should limit any potential stock downside, in our view."