These are the stocks posting the largest moves before the bell.Market Insiderread more
CNBC's Mike Santoli breaks down the aggressive buying of "sure things" and shunning of cyclical and policy risk.Trading Nationread more
The Iranian Intelligence Ministry held a briefing on Monday where they announced the alleged spies were Iranian citizens but trained by the CIA.World Newsread more
Equifax will pay at least $575 million, and potentially as much as $700 million, to settle allegations over its massive over 2017 data breach, U.S. regulators said in a...Technologyread more
In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
Two traders say Boeing's on the path to recovery.Trading Nationread more
Bridgewater Associates's flagship fund reportedly posted one of its worst first-half performances in two decades.Hedge Fundsread more
The U.S. will likely emerge the winner in a "cold currency war" that is heating up, an expert said.Currenciesread more
These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Shares of Micron rose on Monday following an upgrade to buy from neutral from Goldman Sachs, citing a faster-than-expected deceleration in memory chip production.Investingread more
Tariffs are the only instrument left for addressing China's systematic and excessive surpluses on its U.S. trades, writes Michael Ivanovitch.US Economyread more
Deutsche Bank posted first-quarter net profits of 120 million euros ($146 million) Thursday, a 79 percent fall from last year's figure.
The bank announced plans to significantly reduce its workforce through the rest of 2018, particularly in its corporate and investment bank and infrastructure functions. It also aims to scale back operations in bond sales and equities trading, particularly in the United States and Asia.
The announcement follows news that Deutsche Bank fired 300 U.S.-based investment bankers on Wednesday, and plans to fire a further 100 by the end of this week, Reuters reported.
The net profit number was significantly lower than a Reuters poll prediction of 376 million euros. The Frankfurt-based lender has been under scrutiny from shareholders for posting three consecutive years of losses, including a 497 million euro loss for 2017.
Revenues for the quarter were down by 5 percent on the prior year period at 7 billion euros, pressured by the appreciation of the euro against the dollar and lower corporate and investment bank revenues, which fell 13 percent year-on-year to 3.8 billion euros. Revenues for all businesses were lower year-on-year.
Here are the key first-quarter metrics:
Christian Sewing, the bank's recently-appointed chief executive officer, stressed the need to adjust its strategy in several areas of the business. He described Deutsche as being "on a good track" with its asset management business and private & commercial bank, but said in a statement that "we need to substantially improve profitability in both."
"There is no time to lose as the current returns for our shareholders are not acceptable," Sewing said.
Formerly responsible for Deutsche Bank's private and commercial side, the 47-year-old German national is expected to shift the bank's strategy away from seeking profit growth through the investment bank, with a greater focus on the domestic German market, commercial and retail banking, and wealth management.
Sewing's appointment in early April, replacing former Chief Executive John Cryan, ended much uncertainty over the bank's leadership but left a sense of ambivalence surrounding the future of its investment bank, which has been a main source of losses. Sewing is the lender's fourth chief executive in six years.
Deutsche bank shares dropped dramatically by 3.58 percent on Thursday's market open, but were down 1.52 percent on the previous day by 1:50 p.m. London time (9:50 EST).