Oil jumped 6% on Thursday after Iran shot down a U.S. military drone, prompting President Donald Trump to blast Tehran on Twitter.Energy Commoditiesread more
For doubters thinking the rally is just a last gasp of the decade-long bull market, chart analysts are here to prove them wrong.Marketsread more
The billionaire investor believes the stock market is in a "zone of fair value" at current levels.Marketsread more
"I think there's a deceleration in the economy to the point where the railroads, the airlines, the companies, the lenders are all admitting that there's deceleration," says...Investingread more
However, Slack chief Stewart Butterfield says, "The broader world of email will stick around."CNBC Disruptor 50read more
Apple said in a letter released Thursday that tariffs could hurt its ability to compete globally.Technologyread more
Stocks rose sharply on Thursday after the Federal Reserve hinted at possible interest rate cuts as soon as next month.US Marketsread more
Trump tweets after an Iranian surface-to-air missile shot down a U.S. military surveillance drone in what the U.S. calls an "unprovoked attack."Politicsread more
National Securities' Art Hogan sees the U.S.-China trade war as the market's biggest risk – not Fed policy.Trading Nationread more
The last few years have seen a surge of interest in plant-based burgers, but a few restaurant chains remain on the sidelines.Restaurantsread more
The Federal Reserve may be on its way to delivering a half-point interest rate cut next month, according to Goldman Sachs economists.Economyread more
Apple's stock was downgraded for a second time since its earnings report, this time by Rosenblatt Securities, which said it has lowered its expectations for iPhone production and shipments.
The firm cut its rating on the largest public company in the U.S. to neutral from buy, telling clients that it will be difficult for Apple to offset weaker volume with higher selling prices in the second half of 2019.
"Calendar fourth-quarter guidance reflects our cautious view on weaker than expected sell-through and production reductions for iPhone XS/XR," analyst Jun Zhang wrote in Friday's note. We "downgrade to neutral."
Apple also was downgraded by Bank of America Merrill Lynch on Friday.
Apple — which on Friday posted its fifth consecutive week of stock losses for the first time since 2012 — finished that day down 6.6 percent, its worst one-day move since January 2014. The company on Thursday evening reported iPhone sales that missed estimates, gave disappointing revenue guidance and said it would no longer report iPhone unit sales.
Apple's stock fell 2.8 percent Monday to $201.59 per share following the second downgrade. The stock is down 9.2 percent since the company reported earnings last week.
Apple posted revenue and earnings per share numbers that surpassed Wall Street's expectations for the fourth fiscal quarter. Still, Rosenblatt's Zhang held his price target steady at $200, implying 3.6 percent downside.
"We believe Apple's slightly soft guidance reflects our recent view that Apple will reduce iPhone production (our estimates of a 6-million-unit production cut)," Zhang said. "The iPhone Max has been selling well and will most likely help increase average selling price and gross margin, but we believe it will be difficult for ASP to grow in the second half of calendar-2019."
The Rosenblatt downgrade echoes that issued by Bank of America, with analyst Wamsi Mohan advising clients that slower growth in app store revenue, soft December-quarter guidance and weaker emerging market trends all expected to drag on the stock.
The analyst also lowered his 12-month price target to $220 from $235.