Stocks dropped after Donald Trump ordered that U.S. companies find alternatives to their operations in China.US Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
President Trump again rips into Federal Reserve Chairman Jerome Powell, comparing him to Chinese President Xi Jinping.Politicsread more
Multinationals that rely on the supply chain from China are tumbling after President Donald Trump ordered them find alternatives to their Chinese operations.Marketsread more
Powell repeats his pledge to keep the economic expansion going while acknowledging that tariffs and other factors are causing growth to slow.The Fedread more
The Koch brothers financed one of the most influential political networks in the modern era. The sprawling political empire includes conservative and libertarian nonprofits...Politicsread more
The president tweeted Friday morning that he was ordering "our great American companies" to "immediately start looking for an alternative to China."Marketsread more
These are the stocks posting the largest moves in midday trading.Market Insiderread more
The two American car companies are among the top exporters of U.S.-produced vehicles to China along with BMW and Daimler/Mercedes-Benz, according to industry data obtained by...Autosread more
China says the new tariffs will begin Sept. 1 and Dec. 15. That's when President Trump's latest tariffs on Chinese goods are to take effect.Marketsread more
The dollar fell on Friday following a speech from Federal Reserve Chair Jerome Powell and after President Donald Trump ordered U.S. companies to find alternatives to their...Currenciesread more
Check out the companies making headlines midday Monday:
Qualcomm, Xilinx, Broadcom –Chipmakers were under pressure led by declines in Qualcomm and Xilinx, which tumbled 6% and 3.6%, respectively. Broadcom also dropped 6%. The drop came after the U.S. blacklisted Huawei and effectively halted its ability to buy American-made parts and components. This led Google to suspended business activity with the Chinese telecom giant. Other Huawei suppliers, including Qualcomm, Broadcom, Intel and Xilinx, will reportedly stop selling to the Huawei until further notice. U.S. chip suppliers are losing a big customer as Huawei purchases $20 billion of semiconductors each year.
Sprint, T-Mobile — Sprint shares surged 18.8% after the Federal Communications Commission's chairman said he would recommend the company's $26.5 billion merger with T-Mobile. T-Mobile shares also rose 3.9%.
Deutsche Bank — The German bank's U.S.-listed shares slid 2% after UBS downgraded it to sell from neutral. The UBS analyst said Deutsche is a "levered market play vulnerable to external events and rising rates are currently a distant hope."
Tesla — Tesla dropped 2.3% after a Wedbush analyst lowered its price target on the electric car maker's stock to $230 from $275. The analyst cited concerns that CEO Elon Musk's expansion into other products is distracting the company from what should be its main goal: gathering core demand for its Model 3.
Apple — Shares of Apple slid 3.1% after HSBC cut the tech company's price target to $174 per share from $180 due to concerns over the looming tariff concerns between the U.S. and China. HSBC believes tariff increases would force Apple to raise prices on its products, which are already seen as expensive. The bank also said there is a risk that Chinese consumers would shift to local brands with comparable products such as Huawei and Xiaomi.
Dish Network — Dish shares slid nearly 6% after announcing it will buy streaming company EchoStar's satellite business for $800 million. The deal is expected to close in the second half of 2019.
Tata Motors — Shares of Indian automaker Tata Motors climbed 5.7% following the release of its fourth-quarter earnings released before the bell Monday. Tata Motors earned $160.26 million in net profit for the quarter ended on March 31, topping a Refinitiv estimate. The company, however, said it struggled to sell its Jaguar Land Rover in key markets like China.
Delta Air Lines — Delta fell 1.1% after Morgan Stanley downgraded the stock to equal-weight from overweight. Morgan Stanley cited concerns that the airline's free cash flow yield is falling, and the investment bank's updated 2020 estimates which are below the consensus estimates.
Ryanair — Europe's low-cost airline Ryanair fell 2.1% after reporting its weakest annual profit in fours years on Monday. Ryanair cited issues with overcapacity, Brexit and problems with the grounded Boeing 737 MAX for its disappointing quarterly results.
Del Frisco's Restaurant — The steakhouse chain's stock skyrocketed 31.2% higher after The Deal reported that final bids for the company were around $9 per share. That number is 89.5% above Del Frisco's closing price on Friday of $4.75.