An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
"There is reason to believe that we know the culprit," Trump said in a post on Twitter.Politicsread more
Brent crude surged by as much as 19.5% to reach $71.95 per barrel on Monday, the biggest intra-day jump since the Gulf War in 1991.Oilread more
The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007.Autosread more
Saudi Aramco has 35-40 days of supply to meet contractual obligations, a source close to the matter told CNBC.Energyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
OxyContin maker Purdue Pharma filed for Chapter 11 bankruptcy protection on Sunday.Health and Scienceread more
Saudi Arabia on Saturday shut down half its oil production after a series of drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's...Futures & Commoditiesread more
U.S. stock futures sank amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
The recommendations include changing corporate reporting structures, creating a new safety group, and changing the cockpits of future planes to accommodate new pilots with...Aerospace & Defenseread more
The state would become the second in the country, behind Michigan, to ban the sale of fruit flavored e-cigarettes, which are popular with teenagers.Health and Scienceread more
Jefferies became the latest Wall Street firm to lower expectations for Apple's stock on weakness in the iPhone supply chain.
"It could get worse before it gets better," Jefferies analyst Timothy O'Shea said in a note Wednesday. "It appears that [Wall Street] estimates may still be too high."
O'Shea's firm lowered its 2019 estimates for iPhone revenue by 3 percent and for Apple's profit by 4 percent. Jefferies now expects Apple to sell about 72 million iPhones in the first quarter next year and 206 million iPhones over the full year. That is below Wall Street's expectation for iPhones sales 74 million and 210 million in the respective periods.
Apple shares rose fractionally in premarket trading from Tuesday's close of $166.07 a share. Jefferies slashed its Apple price target to $225 a share from $265. Despite the cut, Jefferies remains largely positive on the stock due to expected growth in the tech giant's services business.
"Apple's iPhone business still looks sufficient to build a massive, high margin, high multiple Services business over time," O'Shea said. "Apple will disclose gross margin of Services for the first time ever next earnings."