Durian at a Costco Wholesale location in Woodland Hills, California. April 24, 2022. Wendy Leung Wendy Leung rarely saw durian in grocery stores growing up in Los Angeles, but the 45-year-old nonprofit worker found the fruit at her local Costco Wholesale in San Fernando Valley this April. Durian is used in Southeast Asian cuisines and … Read more
A ‘We’re Hiring!’ sign is posted at a Starbucks in Los Angeles, California. Mario Tama | Getty Images The US economic contraction to start the year was worse than expected as weak business and private investment failed to offset strong consumer spending, the Commerce Department reported Thursday. First-quarter GDP declined at a 1.5% annual pace, … Read more
The entrance to Google’s UK offices in London. Olly Curtis | Future Publishing | via Getty Images The UK’s competition regulator has opened a fresh investigation into Google, taking aim at the company’s role in the advertising technology market. It’s the second major antitrust probe to target Google’s ad practices in the UK The Competition … Read more
Here are Thursday’s biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said in a note Wednesday night that reports of iPhone 14 delays are overblown. “Our supply chain checks do not indicate delays, and looking at past flagship iPhone launches, there’s minimal impact to FY shipments or AAPL stock performance … Read more
1. Stock futures higher as Wall Street looks to break losing streaks Traders work on the floor of the New York Stock Exchange (NYSE) on May 18, 2022 in New York City. Spencer Platt | Getty Images US stock futures were higher Thursday, the morning after the release of a key earnings report from semiconductor … Read more
Check out the companies making headlines before the bell: Macy’s (M) – Macy’s surged 15% in the premarket after reporting better-than-expected profit and revenue for the first quarter and raising its full-year earnings forecast. Results got a boost from strong apparel demand as people returned to work and other out-of-home activities. Dollar General (DG) – … Read more
Cybersecurity investments are ramping up as attacks increase, and investors looking to invest in space should look at names such as Okta and CrowdStrike, Stephens said. Analyst Brian Colley initiated coverage of five software security names including Okta and CrowdStrike, saying in a Tuesday note to clients that both companies can benefit from rising demand … Read more
Sunak previously described the idea of a windfall tax on oil and gas majors as “superficially appealing” but a decision that would ultimately deter investment. Jonathan Brady – Pa Images | Pa Images | Getty Images LONDON – UK Finance Minister Rishi Sunak has imposed a windfall tax on oil and gas majors as the … Read more
Hock Tan, chief executive officer of Broadcom Martin H. Simon | Bloomberg | Getty Images Broadcom will buy VMware in a cash-and-stock transaction valued at $ 61 billion, based on the closing price of Broadcom common stock on May 25, 2022, the companies announced on Thursday. The deal would be one of the largest technology … Read more
The firm still holds a buy rating on shares of Tesla, despite the recent underperformance.