The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia edged higher Tuesday morning as investors await the release of minutes from the Reserve Bank of Australia's July meeting. The People's Bank of China is also set...Asia Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
"These days, the consumer is addicted to convenience ... If it doesn't have a great digital presence or incredible bargains, take a pass," Jim Cramer says.Mad Money with Jim Cramerread more
Boeing could have a major surge in the next 12 months on the back of strong commercial airplane sales, according to an analyst at Morgan Stanley.
Analyst Rajeev Lalwani upgraded Boeing shares to overweight from equal weight and hiked his price target to $450, implying a 30.9 percent upside. Boeing shares rose 2.55 percent to $352.61 on Thursday.
"Barring a downturn, the resilience of the EPS and FCF profile should remain in place within Commercial Aerospace, which is supported by airline profits and air traffic holding steady following the decline in oil," Lalwani said in a note Thursday. "In addition, we see foresee compounding growth coming from buybacks, production hikes, and margin improvement (15-20%), all from a management that has proven to be best-in-class."
Boeing shares are up more than 8 percent to start off 2019 after a downbeat close to last year. The aerospace giant's stock fell 13.3 percent in the fourth quarter of 2018 amid growing worries over U.S.-China trade relations. The ongoing negotiations have impacted the stock for nearly a year, given the company's large exposure to overseas markets.
Nonetheless, that pullback late last year has created a buying opportunity, Lalwani notes. "Shares are down ~15% from highs, creating a favorable Bull-Bear skew alongside offering a FCF yield of ~10% on our 2020E."
Charles Minervino, an analyst at Susquehanna, echoed Lalwani's thoughts, initiating coverage of Boeing with a positive rating and a $388 price target.
"We believe the commercial airplane market is still in an order upcycle, with customers needing to replace aging fleets while catering to growing travel demand," Minervino said in a note Wednesday.