Indian billionaire investor Rakesh Jhunjhunwala says he's very upbeat about his country's growth potential after the country underwent a massive banking crisis and the rollout...Asia Economyread more
Stocks in Asia mostly recovered in Tuesday afternoon trade as investors cheered a reprieve in U.S.-China trade tensions surrounding Chinese telecommunications giant Huawei.Asia Marketsread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
The U.S. government on Monday temporarily eased some trade restrictions imposed recently on China's Huawei, a move that sought to minimize disruption for the telecom company's...Technologyread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
See which stocks are posting big moves after the bell on Monday, May 20.Market Insiderread more
A record 257.4 million travelers are expected to opt for U.S. airlines for travel this summer, the 10th consecutive annual increase, a trade group forecast on Tuesday.Airlinesread more
Binny Bansal, co-founder of Indian e-commerce giant Flipkart, says there are three traits that led to the business landing a record-breaking sale to retail giant Walmart.Entrepreneursread more
Silicon Valley argues that Wall Street focuses too much on near-term profits — but investors have embraced money-losing biotech IPOs.Marketsread more
Check out the companies making headlines before the bell:
Apple — Nikkei reported that Apple is cutting iPhone production by 10 percent between January and March. This would be the second time in two months that Apple trims iPhone production plans, according to the report.
Facebook — CEO Mark Zuckerberg said he will host a series of discussions about tech's role in society in the future. "Every few weeks I'll talk with leaders, experts, and people in our community from different fields and I'll try different formats to keep it interesting," Zuckerberg said.
Foot Locker, Nike — An analyst at Baird upgraded Foot Locker to "outperform," noting the near-term fundamentals for the company "can continue to inflect positively" amid strong Nike same-store sales. Separately, Baird downgraded Nike to "neutral" from "outperform" amid concern its high valuation may not be sustainable.
Skyworks Solutions — Canaccord Genuity slashed its price target on Skyworks to $84 from $96 a share, citing weak smartphone demand around the world. "We anticipate Apple has higher-than-anticipated channel inventory levels to work through in 1HC2019, driving weaker near-term demand for suppliers," Canaccord said in a note.
Bank of America —The banking giant was upgraded to "buy" from "neutral" at UBS, with analysts noting Bank of America "should continue improving efficiency metrics and, importantly, appears comparatively well positioned to withstand a turn in credit." UBS, however, also trimmed its price target on Bank of America to $32 from $33 a share.
Morgan Stanley — Citigroup upgraded Morgan Stanley to "buy" from "neutral," noting higher market volatility can lead to higher trading revenue throughout the year.
Tilray — The Canadian pot company was initiated with an overweight rating and a $90 price target at Piper Jaffray. "The timing of a regulatory change is hard to predict, but we expect continued global momentum for medical and recreational marijuana legalization," Piper said.
Lowe's — Barclays downgraded the home-improvement retailer to "equal weight" from "overweight," noting "it is unproven that the company can accelerate comps into a decelerating macro⁄industry across the board in 2019." Barclays also cut its price target on Lowe's to $105 from $120.
Tesla — The electric car maker is being sued after a passenger died last year due to a defective battery. The suit alleges Tesla "failed to warn purchasers of its vehicles of the battery's dangerous condition."