It's about time to write off high-growth tech stocks, Goldman warned, saying software carries the highest multiples since the tech bubble.Marketsread more
Iran will surpass the internationally agreed levels of its low-enriched uranium levels in 10 days, the country's atomic energy body said Monday.Politicsread more
Boeing says the airline industry will need 44,000 new commercial airplanes by 2038. The market value of those planes would reach $6.8 trillion, up from $6.49 trillion...Airlinesread more
Apple is reportedly building three new iPhones for 2020, including two with 5G. It may also slightly change the screen sizes of the new iPhones.Technologyread more
Sotheby's announces it has signed an agreement to be acquired by BidFair USA, a venture owned by art collector Patrick Drahi.Marketsread more
Overall, extortion by email is growing significantly, according to the FBI's Internet Crime Compliant Center (IC3). Last year, these complaints rose 242% to 51,146 reported...Technologyread more
In a 7-2 ruling, over dissents from Justices Ruth Bader Ginsburg and Neil Gorsuch, the justices affirmed the so-called "dual sovereignty" exception to the Constitution's...Politicsread more
Target's nationwide cash register meltdown over the weekend created more than $16 million in buzz on the internet from news reports and other social media mentions, according...Retailread more
The chipmaker crush could persist and investors should be selective, but Nvidia looks like a clear buy, one market watcher says.Trading Nationread more
The top court scrapped a ruling from the Oregon Court of Appeals in favor of the same-sex couple. The owners of the bakery, which refused the make the cake due to religious...Politicsread more
Boeing reached a deal with British Airways to provide parts for some of its plane's made by rival manufacturer Airbus, part of Boeing's push to grow its services business.Airlinesread more
Check out the companies making headlines midday Monday:
Papa John's — Shares of the embattled pizza maker rose nearly 9 percent after the company announced Starboard Value has taken a $200 million stake in the company. Starboard CEO Jeffrey Smith was also named the new Papa John's chairman.
Maxwell Technologies — Tesla announced it was acquiring Maxwell Technologies for about $218 million, sending the energy technology company's stock up more than 49 percent. Maxwell makes devices that can store and rapidly deliver surges of energy. The deal represents a 55 percent premium over Maxwell's closing price on Friday.
Sysco — Sysco shares rose 4.8 percent the company reported quarterly earnings per share of 75 cents, topping analyst expectations by two cents. The company's revenue, however, came in slightly below expectations.
Clorox — Clorox reported better-than-expected earnings on Monday, sending its stock up 5.6 percent. The stock posted its biggest one-day gain since Aug. 2, when it rose 6.17 percent. The company also reiterated its 2019 guidance for earnings and revenue.
Alexion Pharmaceuticals — The pharmaceutical company's stock rose as much as 2.1 percent on the back of better-than-expected quarterly results. Alexion posted earnings per share of $2.14, well above an estimate of $1.82. However, the stock failed to hold its gains and closed 2 percent lower.
Allergan — Shares of the drug-maker fell 3.85 percent on Monday after a rival to its famous Botox injection was approved by U.S. regulators. Evolus says its competing wrinkle-fighting injection would be between 20 percent and 25 percent cheaper than the price of Botox. Shares of Evolus jumped last week after the approval.
Sonos — The stock rose 7.2 percent after Morgan Stanley upgraded it to overweight from equal-weight on the potential upside from its custom home installations and the IKEA partnership. J.P. Morgan also mentioned Sonos would be a good fit for Apple to make strategic acquisitions among Netflix and Activision Blizzard.
Apple — Shares of the tech giant jumped 2.8 percent midday Monday, bringing its year-to-date gains to 8.2 percent. The move higher comes after J.P. Morgan said Apple could acquire a major media player like Netflix.
CME Group — Shares of the derivatives marketplace fell after it reported its average daily volume was down 6 percent from a year earlier.
Roku — Roku shares opened little changed this morning and steadily climbed higher. The stock rose as much as 12.14 percent before closing 4.91 percent higher. It's unclear what the fundamental catalyst is for the jump as it's breaking out from its 200-day moving average.
Match Group – Shares of the dating service slipped 0.55 percent after Goldman Sachs began coverage with a sell rating. While Goldman said the parent company of Tinder has a "promising" long-term outlook, it thinks Match's valuation is "high relative to its growth." Goldman Sachs has a $45 price target on Match's stock.