Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
CNBC's Jim Cramer connects the dots by reasoning that if the president were to act, he would pick a successor to Powell that would do his bidding.Economyread more
Tech trade organizations on Wednesday lashed back at a newly proposed bill by Sen. Josh Hawley, R-Mo., that would fundamentally alter the business models of tech companies...Technologyread more
Judy Shelton said in an interview that, if appointed to the Fed, she would want to lower interest rates all the way down to 0%.The Fedread more
Shoppers are "very nuanced in their expectations," Ron Johnson, the former CEO of J.C. Penney and the former senior vice president of Apple's retail division, said at CNBC's...Evolveread more
The winner will live in a centrally located apartment, receive a "salary" and explore the city to find what makes people there so happy.Liferead more
Hubert Joly announced in April he was ceding the chief executive spot to Corie Barry, a move that went into effect earlier this month. Joly will now be its executive chairman.Evolveread more
Beyond Meat has blown up. The plant-based meat company is now larger than 80 S&P 500 companies, including Macy's, Xerox and Mylan.Trading Nationread more
We've been given plenty of reasons to quit Facebook, including a new report that alleges disgusting working conditions at a company, Cognizant, it uses to employ contractors....Technologyread more
Guggenheim raised its recommendation of Roku to buy from neutral on Wednesday, as the firm sees the stock jumping nearly 28% over the next year due to strength in advertising on streaming platforms.
"We see continued growth in account and streaming metrics, closing of the video advertising pricing gap with traditional television, demand by third parties for audience development opportunities, and incremental content distribution revenue recognition as key catalysts for shares," Guggenheim analyst Michael Morris said in a note to investors.
Roku shares climbed 8.7% in trading to close at $101.71 a share.
Guggenheim believes Roku's first quarter earnings results "were representative of the core trajectory" for the company's key business lines, Morris said.
"Roku is one of the only pure-play streaming video companies and is uniquely well positioned to benefit from the continued audience shift to digital video consumption," Morris said. Roku generated 4 cents in advertising revenue per hour in the first quarter, compared to the 19 cents per hour that traditional TV generates, Guggenheim said.
Guggenheim also increased its price target on Roku shares to $119 from $75.