U.S. officials, including Secretary of State Mike Pompeo, have accused Iran of orchestrating devastating strikes on Saudi oil installations over the weekend.Politicsread more
Thousands of Canadian auto industry workers have been furloughed with more temporary layoffs coming as negotiations on a new labor contract between General Motors and the...Autosread more
Rosengren was one of two central bank officials to vote against Wednesday's quarter-point rate reduction, and explained in a speech to the Stern School of Business at New York...Economyread more
The process will involve three 14-day operations involving $30 billion as well as continued overnight operations of at least $75 billion each.The Fedread more
"The president is right to make this the center point of the rising and sustained trade conflict," says Sen. Chris Coons.Politicsread more
Some businesses, mostly small- to mid-sized companies, are providing workers with paid time off to join the Global Climate Strike, while others are shutting down operations...Weather & Natural Disastersread more
A bipartisan group of senators is urging acting Food and Drug Administration Commissioner Ned Sharpless to immediately pull most e-cigarettes off the market, including market...Health and Scienceread more
More than 400 Chinese products will be temporarily exempted from tariffs that President Donald Trump's administration imposed last year.China Economyread more
"We're gonna take this meeting by meeting. We're not on a preset course," Clarida told CNBC's Sara Eisen during an interview Friday on "Squawk on the Street."The Fedread more
Netflix CEO Reed Hastings admitted that it's a "whole new world starting in November," with the launch of Apple TV+, Disney+ and other new streaming services.Technologyread more
President Donald Trump sarcastically tweeted that New York City "is devastated" by Mayor Bill de Blasio's exit from the 2020 presidential race. Two other Democratic mayors,...2020 Electionsread more
Here are the biggest calls on Wall Street on Friday:
Goldman lowered its price target and said it sees a 26% downside to shares due to the company's Apple TV+ trial.
"We believe that Apple plans to account for its 1-year trial for TV+ as a ~$60 discount to a combined hardware and services bundle. This method of accounting will likely result in lower up front ASPs and margins and then higher services revenue growth. Effectively, Apple's method of accounting moves revenue from hardware to Services even though customers do not perceive themselves to be paying for TV+."
Read more about this call here.
Wedbush said in its upgrade that it sees several "new" initiatives at the e-commerce company that will drive growth going forward.
"We upgrade ETSY to OUTPERFORM as we now see a critical mass of new initiatives, highlighted by Etsy Ads and free shipping, that can drive stronger GMS growth and margin expansion over time. We particularly like the timing with both Etsy Ads and free shipping launching into the holiday season supported by Etsy's brand marketing push, where it is seeing early signs of strong ROI on TV and Social."
Macquarie said Southwest will be able to more fully utilize its new revenue management system and more efficiently schedule aircraft once the grounding of its Boeing 737 MAX fleet ends.
"We think that the airline will now be able to fully utilize its new revenue management system and more efficiently schedule its aircraft as the MAX's are ungrounded and reintroduced into their system. We also like Southwest's move to join Travelport and Amadeus Travel Platforms global distribution systems as we think that it gives the airline a new growth platform with small to medium businesses. We've pushed our valuation multiple towards the upper end of their 3 year historical average as we are factoring in the current uncertain economic environment and Southwest's long track record of stable earnings and its strong balance sheet which positions it for a rotation into quality."
Citi downgraded the stock mainly on valuation.
"Although we view O'Reilly as a best-in-class operator with superior supply chain / in-stock rates, strong management expertise and an admirable Pro business, we remain on the sideline because of valuation."
Following the company's earnings report, Loop said it thinks shares will remain range bound until the macro begins to "improve." Broadcom designs, develops, and manufactures semiconductor and infrastructure software products.
"Although Broadcom delivered revenue results that met expectations, with a slight upside to EPS, and the company left its F2019 guidance unchanged, management noted multiple times that unless the current macroeconomic uncertainty improves, Broadcom is expecting to see a very low-growth environment for the foreseeable future. End demand was said to have bottomed, but is expected to remain at these reduced levels for some time."