Cyberattacks against accounting software firm Wolters Kluwer and the City of Baltimore in May showed how the newest wave of malicious hacking can have significant, often...Technologyread more
The European parliamentary election is the second largest democratic exercise in the world.Europe Newsread more
Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread 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... "