The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Here are the biggest calls on Wall Street on Friday:
Deutsche upgraded Pinterest after the company's earnings report and said it had more "confidence" in its ad business.
"We upgrade shares of Pinterest to a Buy rating and $40 target price reflecting a meaningful increase to estimates and more confidence the company can scale its ad business - in the US and internationally - faster than expected. "
UBS upgraded the survey company after a positive earnings report and bullish management commentary.
"After another positive earnings report & robust forward mgmt commentary, we upgrade SVMK from Neutral to Buy and raise our PT from $18 to $24. Since its IPO, SVMK mgmt has executed on a mix of enterprise sales & self-serve sales tools, allocated capital to M&A in a way to deepen the product offerings & successfully partnered with companies like CRM & MSFT to widen the market opportunity. Against that backdrop, SVMK's business model continues to demonstrate pricing power, increased customer spend & higher customer retention – in our view, investors should find that dynamic very compelling. "
Evercore said the mobile payment technology company was "overvalued" amongst other things after the company's earnings report.
"Square's core, merchant acquiring growth is decelerating faster than expected....Square's transformation into a two-sided merchant and consumer network with Square Cash makes its pre-IPO adjusted EBITDA margin target of 35-40% unattainable, in our view, given the large amount of investment spending required...SQ is overvalued at 77 times our revised 2021E EPS, we believe, given our 5 year, average adjusted EPS growth forecast of 39%, down from 55% previously. "
"With scale and reach, each of these platforms now has gravitational pull unlike any other trifecta of companies in a single sector. While there might be temporary pockets of weakness in the stock prices of these companies, we expect that over the long term each will fare well. In this report, we provide our checklist-based framework to analyze these mega-caps on an ongoing basis, key investment themes affecting all-things-Internet, and a one-page investment thesis write-up for each of the stocks. Please refer to our individual company reports for more details."
J.P. Morgan said that the broadcast radio platform company has the "scale" and strategy to "outperform" its peers.
"iHeart is the leading broadcast radio platform in the US with a strong and growing digital presence. We believe this scale and multiplatform strategy has allowed iHeart to outperform its broadcast radio peers while also driving higher margins that should allow the company to rapidly delever. "
Bank of America upgraded MGM and said it sees a more "balanced" risk/reward.
"We believe MGM has started to receive credit for three key catalysts 1) its MGM 2020 Plan, 2) its real estate optionality and 3) the ramp up of MGM Cotai in Macau. We are encouraged by MGM's reduced focus on M&A and capital expenditure as well as its rising focus on deleverage and free cash flow late in the economic cycle. While there could be some short-term catalysts that support the stock, such as near term survey trends, 2020 Plan upside and real estate, we see this balanced by rising cyclical risks, convention competition, high operating leverage and a complicated financial structure. "
Pivotal said it thinks the grocery store retailer's stock is "mispriced."
"For some time, we have been looking for a better entry point for Kroger. That time has finally arrived. Despite the lack of a near-term catalyst, we think the stock is simply mispriced at this time. We see a lot of parallels to when Kroger was similarly oversold two years ago based on the massive disruption caused by the Amazon/Whole Foods developments. That sell-off proved to be a useful near-term buying opportunity. We see the same type of valuation anomaly with Kroger today following the extreme disappointment with the recent 1Q19 results. "