Indian billionaire investor Rakesh Jhunjhunwala says he's very upbeat about his country's growth potential after the country underwent a massive banking crisis and the rollout...Asia Economyread more
There's more pain ahead for the U.S. and China amid their bilateral trade dispute, according to one expert.China Politicsread more
The U.S. government on Monday temporarily eased some trade restrictions imposed recently on China's Huawei, a move that sought to minimize disruption for the telecom company's...Technologyread more
You know there's an underlying problem when investment firms start to cut exposure to a particular asset class.Commentaryread more
Stocks in Asia mostly recovered in Tuesday afternoon trade as investors cheered a reprieve in U.S.-China trade tensions surrounding Chinese telecommunications giant Huawei.Asia Marketsread more
The issue of corporate debt has surfaced as companies continue to use the low rates the Fed has provided to lever up their balance sheets.The Fedread more
A record 257.4 million travelers are expected to opt for U.S. airlines for travel this summer, the 10th consecutive annual increase, a trade group forecast on Tuesday.Airlinesread more
Huya, a Chinese live streaming platform focused on gaming, is looking to expand into the U.S. in the next couple of years, CEO Rongjie Dong told CNBC. The U.S. is expected to...Technologyread more
Most U.S. hedge funds aren't expecting another big stock market sell-off as more firms curb bets on volatility, according to Nomura.Marketsread more
Mall owners are increasingly building out food halls with local chef-driven eateries, sushi bars and premium coffee shops.Retailread more
While Trump's lawyers had argued that the committee's subpoena did not have a legitimate legislative purpose — and was therefore invalid — Mehta took a broader view.Politicsread more
Check out the companies making headlines midday Wednesday:
Under Armour — Shares of Under Armour rose more than 3% after Citi upgraded its rating on the athletic apparel maker to buy from neutral, saying Under Armour is "growing up" with a "renewed focus on driving profitability."
Tesla — Shares of Tesla rose more than 1% after lawmakers began to push to expand federal tax credits for buyers of electric vehicles. A bipartisan group of lawmakers aims to grant each automaker $7,000 in additional tax credits for an additional 400,000 vehicles after it exhausts the first 200,000 vehicles eligible for the tax credit as per existing laws.
Lyft — Shares of Lyft tumbled nearly 11% following skepticism of the company's value amidst reports that rival Uber will unveil its public offering on Thursday. New York University professor Aswath Damodaran said Tuesday on CNBC that shares should be trading closer to $59 per share, cutting down $3 billion off the ride-sharing company's $18 billion valuation. Investors also expect some competition on the public markets very soon from Uber.
First Solar — Shares of First Solar soared more than 8%, on pace for its best day of the year, after Goldman Sachs added the stock to its "Americas Conviction List," while reiterating its buy rating and raising the stock's price target to $75 from $64. Goldman highlighted the strong demand from the utility and commercial end markets.
JD.com — Shares of JD.com fell more than 2% after reports came out Wednesday that the Chinese e-commerce company plans to cut up to eight percent of its workforce, or 12,000 jobs. JD spokesperson declined to comment on the job cuts, saying that the company was getting back to "its entrepreneurial roots," according to the reports.
Advanced Micro Devices - Shares of AMD rose more than 2% after Cowen raised its 12-month price target on the semiconductor to $33 from $28. Cowen analysts said they are "increasingly confident" in Advanced Micro Devices' product launches this year and its "competitive positioning" against rival Intel.
AmerisourceBergen — Shares of AmerisourceBergen fell more than 4% after analysts from Bank of America downgraded the stock to underperform from buy and lowered the 12-month price target to $76 from $95. Analysts at the bank cited uncertainty for the drug wholesale industry and recent challenges to the company's biggest customer, Walgreens, for the downgrade.