Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Here are the biggest calls on Wall Street on Friday:
Citi said that Morgan Stanley's upcoming earnings may be "difficult," but it likes the firm's "limited rate exposure."
"While 2Q19 is expected to be a difficult quarter, we think this is largely priced in with an implied cost of equity of 12.4%, and see it as an opportunity to increase exposure to a high quality franchise with limited rates exposure. We are raising our target price $4 to $52 after lowering cost of equity 40bps to 11.7%, reflecting a lower market cost of equity, with normal ROTE unchanged at 14%."
Read more about this call here.
Stephens said that Slack and Zoom are "market leaders" and leading a "sea change" in communications. Slack is a cloud based messaging service for business while Zoom provides remote conferencing services with cloud computing.
"These two market leaders are embodiments of what we call the Third Wave of Unified Communication Transformation. This sea change in communications is defined by a single platform for persistent multi-modal collaboration—built on modern microservices architecture and programmable APIs—which embeds previously siloed applications like persistent team chat, audio, video, customer engagement, and workflow integrations."
Goldman upgraded the tobacco maker and said it's "time to buy tobacco stocks."
" We upgrade shares of Altria to Buy with an unchanged 12-month price target of $59, implying a 27% total return potential. Tobacco valuations are at a 10-year trough, despite a more accommodating market backdrop for Staples names (late-cycle, lower yield). We expect the current discount being placed on Tobacco stocks to narrow as cigarette fundamentals hold up better than feared, contribution from Next Generation Tobacco Products builds and regulatory concerns subside over time."
Stifel said it is bullish on "Lululemon Practice," which is the retailer's loyalty program that gives customers perks.
"We are raising estimates and the 12 month target price for LULU in appreciation of opportunities associated with the planned 2020 market expansion of lululemon practice. practice is a fee based membership program that provides benefits to enrolled members including exclusive access to products and events. In addition to providing revenue associated with annual membership fees, we expect practice enables lululemon to better serve the most valuable and engaged guests to drive incremental purchases."
Goldman Sachs said that it likes the "positive trends" in user growth at Snap as well as the product innovation at personal styling company, StitchFix.
"For Snap, we believe product improvements and feature additions are driving positive trends in user growth and engagement (Exhibits 37-38) that, along with monetization improvement from ad tech initiatives, should drive upside to consensus estimates. At StitchFix, we believe product innovation, operational efficiencies, and geographic expansion, combined with the increase in retail store closures (particularly in apparel) represent significant opportunities for further outperformance."
Wells Fargo raised its target price on Microsoft to $160 from $145
UBS said it sees the German bank with a "more balanced" risk/reward.
"Following the announcement of DB's new strategy we upgrade to Neutral as we see a more balanced risk/reward. We expect more aggressive cost cuts and also regulatory support potentially resulting in lower capital requirements."
Citi said the stock doesn't "work" until the Max issue is "resolved."
"Our BA model now assumes grounding through 3Q, although to be honest, very few people actually have a decent idea of when this thing flies again. So we're making an assumption for the sake of the model. While we maintain that a couple of months delay doesn't make a fundamental difference, we acknowledge that returning to service in 4Q19 is important so that airlines don't start making different plans for Summer 2020."
Pivotal said it raised its price target to a street high on the telecommunications company & forecasted "solid" results for the rest of the year.
"We are raising our target price from $425 to $500, driven primarily by a move to YE'20 target from YE'19 and to a lesser extent an increase in our medium/long term data ARPU growth forecasts. We forecast solid results for the balance of the year as the company begins to fully realize the benefit of the substantial investments made in their plant/packages and promotions and the strong outlook for data growth. At our new Street high target CHTR would trade at 16X '20 market cap /'20 free cash flow vs. 13X currently."
Guggenheim said it expects the company to report "strong" results on the backbone of "new innovations."
"Ahead of what we expect will be strong 2Q results, we reiterate our BUY on Boston Beer shares given the growth runway ahead driven by Twisted Tea, Truly, and other new innovations. In addition, we see a lower degree of risk associated with the expected future growth given the reduced reliance on new innovations to drive the algorithm and the addition of Dogfish Head."