These are the stocks posting the largest moves before the bell.Market Insiderread more
But the bank's net interest margin, a key metric of bank profitability, falls short of expectations.Financeread more
Citi Research has an 18-item checklist to identify whether global markets are entering into a "bear period."Investingread more
The CEO of railroad operator CSX is sounding alarm on the U.S. economy, calling it "unusual" and "puzzling" as it weighs on the company's shipping volumes.Marketsread more
Ascending triangle patterns have been appearing across the stock market, and they tend to be precursors to higher prices, says Miller Tabak's Matt Maley.Trading Nationread more
"Here's what I think is true: Google refused to work for the Pentagon on artificial intelligence" and it works on AI in China, says Richard Clarke.Technologyread more
Buying stocks when they are this expensive has historically led to lower returns, data compiled by Ned Davis Research shows.Marketsread more
Microsoft's effort to catch Amazon Web Services in cloud got a major boost from a new deal with AT&T and an agreement to build out services for 5G.Technologyread more
Uber launches a shopping app with Cargo, an on-the-go convenience store. They already have been working together to put consoles selling snacks in cars.Retailread more
Hedge fund manager Kyle Bass reportedly thinks that U.S. interest rates will plummet toward zero in 2020 as the economy heads for recession.Hedge Fundsread more
If the S&P 500 climbs another 4%, it will have doubled the peak reached in the previous bull market, Michael Santoli notes.Trading Nationread more
start own firm@ (Adds information about market value, replacements for Ive, analyst comment)
June 27 (Reuters) - Apple Inc said on Thursday its Chief Design Officer Jony Ive - a close artistic confidant of founder Steve Jobs and a critical part of the firm's late 1990s revival and historic growth into the world's first $1 trillion company - will leave the iPhone maker later this year to form an independent design company.
Apple's shares fell 1.5% to $197.44 in after-market trading, wiping nearly $9 billion from the firm's value. Ive spent nearly three decades at Apple, playing a leading role in the design of the candy-colored iMacs that helped Apple re-emerge from near death in the 1990s to the iPhone, regarded by many business experts as one of the most successful consumer products of all time.
"It's the most significant departure of somebody who was a core part of the growth story" under Jobs, said Ben Bajarin, analyst with Creative Strategies.
Ive joined Apple in 1992 and led Apple's design teams since 1996. He took up his current role as chief design officer in 2015.
"Jony is a singular figure in the design world and his role in Apple's revival cannot be overstated, from 1998's groundbreaking iMac to the iPhone and the unprecedented ambition of Apple Park, where recently he has been putting so much of his energy and care," Apple Chief Executive Officer Tim Cook said.
Apple said it will be among the primary clients of Ive's new design company for a range of projects.
"I have the utmost confidence in my designer colleagues at Apple, who remain my closest friends, and I look forward to working with them for many years to come," Ive said.
Ive's new company will be called LoveFrom, the Financial Times reported, quoting Ive as saying it would be based in California "for now". Ive told the newspaper he would work on Apple priorities wearable technology and healthcare in addition to unspecified "personal passions". LoveFrom will have other clients beside Apple.
Since 2012, Ive had overseen design for both hardware and software at Apple, roles that had previously been separate. Apple said Thursday that the roles would again be split, with design team leaders Evans Hankey taking over as vice president of industrial design and Alan Dye becoming vice president of human interface design.
Both will report to Chief Operating Officer Jeff Williams, who in addition to overseeing Apple's supply chain also oversaw the development and introduction of the Apple Watch, Apple's first major new hardware platform since the iPhone. (Reporting by Stephen Nellis in San Francisco; Additional reporting by Supantha Mukherjee in Bengaluru; Editing by Shounak Dasgupta and Lisa Shumaker)