The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
The potential deal would shift Neumann's already diminished voting power to the Japanese conglomerate, according to the Journal.Technologyread more
Hunter's vows to forgo any foreign work follow a slew of unsubstantiated attacks by President Donald Trump accusing him of corruption.Politicsread more
Fisher was initially defiant amid the backlash in an interview with Bloomberg, in which he said he had "given a lot of talks, a lot of times, in a lot of places and said stuff...Personal Financeread more
Airlines continue to delay when they plan to have the planes back again with no sign from regulators on when the planes will be approved again.Airlinesread more
Turkey's invasion of northeastern Syria began Wednesday after Trump ordered U.S. troops to pull back from the area.Politicsread more
While Warren's ad about Facebook isn't true, the company's own policy allows politicians to make such false claims in paid advertising.Politicsread more
Typhoon Hagibis made landfall south of Tokyo on Saturday evening. By Sunday around 376,000 homes were left without electricity, and 14,000 without running water across Japan....Weather & Natural Disastersread more
SpaceX and Boeing are each in the final stages of developing the spacecraft needed for the U.S. to once again fly astronauts.Investing in Spaceread more
Bryn Mawr's Jeffrey Mills believes the market needs more time to break out of its slump.Trading Nationread more
Here are the biggest calls on Wall Street on Friday:
Bank of America said it downgraded the chemical company due to global demand forecasts "downshifting" among other things.
"With global demand forecasts downshifting, and the outlook increasingly uncertain, we are cutting estimates and lowering valuation multiples for our commodity exposed coverage (DOW, LYB, OLN, and WLK) from 7x to 6x 2020E EBITDA multiples. We do continue to hold a favorable relative view on the long term supply for caustic soda over polyethylene, but see these commodities driven in the near-term by sluggish demand."
Leerink said its rating on Merck was based on optimism about expanded uses for the cancer drug Keytruda, among other factors.
"We believe investors underappreciate the potential for: long-term, diverse Keytruda revenues that will come with expansion into earlier lines and additional tumor types (and not from pricing increases); return from MRK's aggressive strategy to explore (collaborations) and then pursue (partnerships, acquisitions) promising Keytruda add-on approaches to extend Keytruda's competitive moat and lifecycle beyond patentlife."
Stephens said restaurant hospitality company, Brinker, had a risk/reward that was "too attractive to ignore."
"Chili's has consistently outpaced the industry in recent quarters, with a highlight of 380 bps of FY19 traffic outperformance. However, the market has remained skeptical that the brand can successfully lap FY19 and hit recently-issued FY20 guidance, as the stock is down 16% YTD and trades at 6.7x CY20 EBITDA and 8.4x CY20 EPS with a 4% div. yield. We're becoming comfortable that Chili's recent sales drivers (3 for $10, off-premise) are multi-year platforms that, along with more effectively using EAT's scale, can help produce above-industry results for a sustained period."
Loop said off-price retailers are a good "defensive option."
"Our model changes reflect the market share gains from department and specialty stores we believe are continuing. Our recent round of store checks in the East and West regions for all three companies revealed improving brand availability, attractive assortments, and healthy traffic trends with lines at the registers even in the middle of week days. We're raising near-term estimates for TJX and Burlington and increasing our out-year projections for Ross."
Northland said in its upgrade of the chipmaker that it thinks sentiment is nearing a "low point."
"1) Shares our trading below our PT. 2) Shares are trading at 11.5x our below consensus CY20 estimates. 3) Negative AMD server launch catalyst is in the rear view mirror. 4) INTC beat Q2 by $900M and $0.17, but only increased CY19 estimates by $500M and $0.05. 5) We think value stocks likely outperform higher multiple stocks during sell offs. 6) Sentiment nearing a low point.As such upgrading to MP."