The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
Facebook's cryptocurrency project has already been met with skepticism from policymakers around the world.Technologyread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
Stone, 66, a notorious Republican political operative who has described himself as a "dirty trickster," had previously been dressed down by the judge for his public remarks...Politicsread more
The Biden team's second-quarter Federal Election Commission filing shows that the campaign wrote a check of just over $5,300 on June 28 to Sheehan Associates for "strategic...2020 Electionsread more
See which stocks are posting big moves after the bell on July 16.Market Insiderread more
While the vote served as a show of solidarity for Democrats, it recommended no substantive penalty against Trump.Politicsread more
United Airlines' second-quarter profit tops estimates but questions about the 737 Max linger.Airlinesread more
Three civil rights groups filed a federal lawsuit on Tuesday challenging the Trump administration's new asylum rule, which bars asylum claims from most noncitizens who travel...Politicsread more
Google VP of policy Karan Bhatia started sweating early as hearing chair Ted Cruz brings out an internal presentation created within the company.Technologyread more
At a hearing with the House Judiciary subcommittee on antitrust, an Amazon representative disputed a key argument about how it users sellers' data.Technologyread more
Here are the biggest calls on Wall Street Tuesday:
"We initiate coverage of Alphabet with a Buy rating and $1,350 price target based on: 1) sum-of-the-parts analysis; 2) estimated YouTube value; and 3) the moat created by GOOGL's Network Effects...We conclude that GOOGL should trade at $1,350 per share in 12 months, which is where we set our price target... If GOOGL were to spin off 10% of its largest 2 or 3 businesses (YouTube, Cloud, etc.) we believe this would unlock significant hidden value while keeping control, accounting consolidation, and 90% of the valuation upside for GOOGL... Importantly, we see valuation downside for the "do nothing" option since FB is GOOGL's single biggest FAANG menace (our view), and FB already has a lower cost of equity... "
"After Tesla's surprise announcement of a sooner than expected $35K Model 3, we noted that it was in many respects Tesla's un-iPhone moment... Much of the bull narrative has rested on Tesla being the next Apple, selling high-volume EVs at premium price point and at high gross margins, in part aided by a unique branded retail presence – a narrative we see as undermined by the recent price cuts and closing of most of the stores... With lower margins not likely to be offset by increased volumes and cost saves, we cut our PT to $192 and remain underweight... "
"We add Buy-rated IR to the Americas Conviction List and increase our 12-month price target to $122 (from $115), representing 15% upside from current levels... Recall we upgraded IR to Buy on 12/7/2017 based on our view that its resilient Climate franchise and accelerating Industrial growth would drive upward EPS revisions and a higher multiple... We acknowledge IR has outperformed over the last 12 months (+20% vs. Multis/S&P -4%/+1%) given its beat-and-raise trajectory and differentiated organic growth/orders... However, our conviction in the call has only strengthened in light of a strong order book exiting 2018, improving price/cost, and a conservative guidance range... We also appreciate IR's exposure to one of our favorite end markets in 2019, HVAC, given ~80% of sales are tied to Climate... "
"We initiate coverage of ACB with an Outperform rating and a C$14 price target... While establishing 20% market share has been an early success story in Canadian adult use cannabis, the company is uniquely positioned to drive leadership in both share and profitability... We are designating ACB as our Top Pick in cannabis, replacing WEED... "
"We are initiating coverage on TSN with an Overweight rating and $78 price target as we think its diversified product offering, best in class operations and prudent capital allocation strategy position the company to create value for shareholders... Additionally, we think shares are trading at an undeserved, discounted valuation currently, providing an attractive entry point for investors to own a company that is well positioned to win in a variety of commodity cycle environments as management executes its strategy to enhance the long-term earnings power of the business... "