Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Stocks in Asia traded mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.Asia Marketsread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The outlook for Germany's economy and political stability are more uncertain than ever, writes Michael Ivanovitch.World Economyread more
Hong Kong democracy activist Joshua Wong walked free from prison on Monday after serving nearly five weeks for contempt of court, pledging to join a mass protest movement...China Politicsread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
Barclays upgraded General Electric to overweight from equal weight on Monday, saying the new CEO will lead a turnaround and most of the possible bad news is already priced into the stock.
"Even the most hardened skeptic might want to re-consider following the CEO change," wrote analyst Julian Mitchell. "While we do not yet know the magnitude of the 2018 guidance cuts, talking to investors we believe they are broadly braced for EPS of $0.75 for 2018, FCF (free cash flow) of $0.50, and a dividend cut of 75 percent plus."
GE shares jumped 2 percent in premarket trading Monday, continuing their surge from last week. The stock jumped more than 16 percent last week, its best weekly run in nine years, after ousting CEO John Flannery and naming former Danaher CEO Larry Culp to replace him.
Mitchell's 12-month price target remains at $16, which represents a 21 percent jump from Friday's close of $13.18. But Mitchell also laid out a "blue sky" scenario that takes the stock to more than $20 a share if Culp can aggressively improve profitability.
"We think the upside potential in the shares is considerable now that an outside CEO has been put in place, which substantially increases the range of possibilities that could be pursued at GE, in terms of both the pace of restructuring as well as broader strategic options," he said.