The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS 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
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Twitter and Facebook have suspended numerous accounts that are believed to be tied to a state-backed information campaign originating from inside China.Technologyread more
Leaked documents from Google give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
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
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
In a statement Monday, Barr said he will name Kathleen Hawk Sawyer the new director of the Federal Bureau of Prisons.Politicsread more
Cowen upgraded Disney stock ahead of the company's investor day later this week, citing Disney's new streaming service and next "Star Wars."
"We view Disney's catalyst path for the next year as highly attractive, and believe Thursday's investor day will likely be a deck-clearing event for sentiment," Cowen's Doug Creutz said in a note.
Cowen upgraded Disney to outperform from market perform and raised its 12-month price target to $131 from $102. Disney shares added nearly 1 percent in premarket trading Tuesday following the call.
"Disney has a very powerful pipeline of product that will play out over the balance of the year," wrote Creutz. "On the film side, we believe Disney's slate could drive a $3B calendar year Studio operating profit. We also believe the slate, principally the Q4:C19 releases Frozen 2 and Star Wars Episode IX, should set the stage for a re-acceleration in Consumer Products performance in 2020."
"We believe the launch of Star Wars: Galaxy's Edge at both domestic parks this summer should catalyze continued strong growth in 2H:F19 and FY20," he added.
At investor day, Disney is expected to give details on its new streaming service Disney+. Investors also await details on the road ahead following its $71 billion deal for Fox's entertainment assets, which closed at the end of March.
"We believe the Disney+ DTC (direct to consumer) service is well positioned to have an extremely strong launch that surpasses consensus subscriber expectations," Cowen said. "With the upcoming analyst day likely to provide a needed number reset (for near-term Fox deal dilution and DTC costs), investor focus can shift to this positive catalyst path, and dreams of Netflix-like valuations for the DTC business in years to come."
Disney shares are up about 5 percent this year, below the S&P 500's return of 15 percent.