Stocks traded higher for a second straight day on hopes the Federal Reserve chief will confirm expectations of easier monetary policy at a central banking summit this week.US Marketsread more
A Volkswagen spokesperson called the report that CEO Herbert Diess is interested in buying a stake in Tesla "completely unfounded."Technologyread more
"My sense was we've added accommodation, and it wasn't required in my view," George tells CNBC's Steve Liesman.Investingread more
Apple plans to unveil three new iPhones in September, including two new "Pro" models and a successor to the iPhone XR, Bloomberg reported Thursday.Technologyread more
Corporate profits posted modest growth in the second quarter as companies brace for slowing global growth.Retailread more
Former Prudent Bear Fund manager David Tice is urging investors to brace for a massive downturn.Trading Nationread more
Kraft has filed a contempt motion against the CFTC over a press release announcing the $16 million fine to settle claims of manipulating wheat prices.Food & Beverageread more
A ruling against J&J could mean more big payouts in similar cases across the country.Health and Scienceread more
Michael Burry thinks GameStop still has upside as Sony's and Microsoft's upcoming consoles will likely have physical optic drives.Investingread more
Target shares closed Wednesday up more than 20%, after the retailer reported impressive profit growth and a spike in traffic that surpassed analysts' expectations.Retailread more
German Chancellor Angela Merkel said a solution to the Irish "backstop" is possible before the October 31 Brexit deadline.Europe Economyread more
Foxconn sales dipped 17.7% in the first quarter of 2019 to $637.26 million.
Japan Display said Wednesday that mobile display sales, which make up 73.3% of its total sales, were down 17.2% year over year. Japan Display blamed its sales decline on customers moving to OLED screens in flagship phones, instead of using traditional LCD screens. It also pointed to "the slowdown of China's and the global smartphone market" and the "prolonged life cycle of smartphones." Japan Display is asking for 1,000 employees to retire early by the end of the second quarter.
The global slowdown in phone sales has been attributed to rising costs in phone prices. With premium phones now costing more than $1,000, customers are holding on to devices longer. Bernstein's Toni Sacconaghi said in February that iPhone owners are now hanging on to phones for three or four years. Research firm IDC said in February that 2018 was the "worst year ever" for smartphone sales, with shipments falling 4.1%.
Apple iPhones probably won't be much cheaper in the future, either. Earlier this week, J.P. Morgan said Apple would need to increase the cost of iPhones by 14 percent to offset the next round of tariffs, unless it absorbs the costs itself.
In an effort to offset the slowing sales, Apple has put a bigger focus on its services business with a new premium Apple News+ subscription offering, a new Apple TV Channels platform that rolled out this week that will provide it a larger cut of subscription revenues from services like HBO and Showtime, and an Apple TV+ library of original content that will roll out this fall.