• FX Empire

    A Light Economic Calendar Puts the GBP and Brexit in the Limelight

    The Dollar found strong support early, as the markets considered the implications on existing tariffs on the economic outlook. Brexit chatter also weighed.

  • Trade war pause, retail sales, bank earnings – What to know in the week ahead
    Yahoo Finance

    Trade war pause, retail sales, bank earnings – What to know in the week ahead

    The coming week’s docket of economic reports and earnings releases comes just following the Trump administration’s announcement of a partial trade deal with China late last week.

  • How do brokerage firms make money: Yahoo U
    Yahoo Finance

    How do brokerage firms make money: Yahoo U

    Yahoo Finance's Brian Cheung explains how brokerage firms make money amid their recent move to cut commissions.

  • Facebook's Libra Loses Mastercard, Visa in Cascade of Exits
    Bloomberg

    Facebook's Libra Loses Mastercard, Visa in Cascade of Exits

    (Bloomberg) -- Facebook Inc.’s effort to create a cryptocurrency was dealt a blow on Friday after several key partners, including Mastercard Inc., Visa Inc., EBay Inc., Stripe Inc. and Mercado Pago, abandoned the project. The defections followed fierce criticism from global regulators and lawmakers, and have prompted some industry-watchers to question whether the Libra program can survive.The news comes days before the Libra Association, the group that will oversee the digital currency, prepares to convene its members and ask them to sign a charter agreement. The meeting is slated to take place on Monday in Geneva. A Libra Association spokeswoman said on Friday that the gathering will proceed as planned, and that it would announce the first list of official partners once a formal charter is signed.In a statement, the spokeswoman said the group was "focused on moving forward and continuing to build a strong association" as it worked to create "a safe, transparent, and consumer-friendly implementation of a global payment system that breaks down financial barriers for billions of people."When Facebook launched plans for Libra in June, a critical part of its pitch was that major players in the payments and tech industry were supporting it. The cryptocurrency would be run out of Geneva by the organizations that comprised the Libra Association, not solely by Facebook. But now that that alliance appears to be eroding, the project’s future is uncertain."I don’t think Facebook can do this by itself," said Michael Pachter, an analyst for Wedbush Securities told Bloomberg TV. "Short of a big bank stepping in like JPMorgan, I don’t think this could ever happen."In a tweet on Friday, David Marcus, the Facebook executive spearheading the effort, said that the exit of six partners would not derail the effort. "I would caution against reading the fate of Libra into this update," he wrote. "Change of this magnitude is hard. You know you’re on to something when this much pressure builds up."Whether or not Libra implodes, the exits highlight the extreme challenges that lie ahead for the project, which if successful could have a sweeping impact on the global financial system. "It may very well fail completely," said Lisa Ellis, an analyst at MoffettNathanson. Even if it survives, progress will take much longer and "it’s likely to fall into some level of obscurity," she added.Facebook has faced fierce backlash since the company announced plans for Libra. Politicians and regulators around the world have called on Facebook to halt its progress, and some have suggested Libra could be used for illegal money laundering or trafficking schemes.Despite the scrutiny from public officials and the exodus of partners, Facebook remains committed to Libra, according to a person familiar with the matter who asked not to be identified because they were not authorized to speak publicly. Some people inside the company think the defections are partly driven by established payments providers worrying about a new entrant encroaching on their turf, the person said.In the months since its announcement, Facebook has frequently found itself in the spotlight over the cryptocurrency. Marcus went to Washington in July to testify before Congress about Facebook’s plans. Later this month, Chief Executive Officer Mark Zuckerberg is scheduled to appear before the House Financial Services Committee to answer even more questions about Libra.Earlier this week, two U.S. senators cautioned Visa, Mastercard and Stripe to reconsider their involvement in the project. Senators Sherrod Brown of Ohio and Brian Schatz of Hawaii said that Libra poses a risk to not only the financial system, but the payments companies’ broader business. "We urge you to carefully consider how your companies will manage these risks before proceeding," they said a letter to the companies.Mastercard said in a statement that it will "remain focused on our strategy and our own significant efforts to enable financial inclusion around the world," adding, "We believe there are potential benefits in such initiatives and will continue to monitor the Libra effort." Visa said the company would also continue to evaluate whether to join in Libra in the future, and that the company’s "ultimate decision will be determined by a number of factors, including the Association’s ability to fully satisfy all requisite regulatory expectations."In a statement on Friday, EBay expressed its support for the project, but said it would focus on rolling out its own payments products. “We highly respect the vision of the Libra Association; however, eBay has made the decision to not move forward as a founding member,” an EBay spokesman wrote in the emailed statement. “At this time, we are focused on rolling out eBay’s managed payments experience for our customers."Payments giant Stripe, one of the most high-profile startups to sign onto the project, signaled it remained open to working on it in the future. “Stripe is supportive of projects that aim to make online commerce more accessible for people around the world. Libra has this potential,” said a company spokesperson. “We will follow its progress closely and remain open to working with the Libra Association at a later stage.”The Libra Association is composed of about two dozen organizations, including Facebook. A Lyft Inc. spokeswoman confirmed on Friday that the ride-hailing company remains a member. Other companies that have not signaled plans to leave include Uber Technologies Inc., Spotify Technology S.A., Coinbase Inc. and telecom providers Iliad SA and Vodafone Group Plc. PayPal Holdings Inc. dropped out last week. (Updates with David Marcus comment in 6th paragraph.)\--With assistance from Candy Cheng, Lizette Chapman, Spencer Soper and Lydia Beyoud.To contact the reporters on this story: Kurt Wagner in San Francisco at kwagner71@bloomberg.net;Julie Verhage in New York at jverhage2@bloomberg.net;Jenny Surane in New York at jsurane4@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Anne VanderMey, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Google’s $2.6 Billion Looker Deal Said to Get Closer DOJ Review
    Bloomberg

    Google’s $2.6 Billion Looker Deal Said to Get Closer DOJ Review

    (Bloomberg) -- U.S. antitrust enforcers have started an in-depth review of Google’s $2.6 billion planned acquisition of a data analytics company, a further sign of greater scrutiny on big technology companies, according to people familiar with the situation.The antitrust division of the Justice Department is seeking more information from Google and Looker Data Sciences Inc. related to the deal to determine whether the tie-up harms competition, said one of the people, who asked not to be named discussing private matters.Alphabet Inc.’s Google announced June 6 it planned to buy Looker for its cloud unit, which lags far behind Amazon.com Inc. and Microsoft Corp. with just 4% of the cloud-computing infrastructure market as of 2018, according to the most-recent figures from analyst Gartner Inc.The deal was expected to receive added regulatory scrutiny. The in-depth Justice Department review, known as a “second request,” comes as antitrust authorities start historic probes of Google and other large tech companies. One issue for enforcers is whether tech giants have used acquisitions of smaller firms to thwart rivals and cement their dominance. The U.S. Federal Trade Commission, which also enforces antitrust laws, is investigating whether Facebook Inc.’s purchases of Instagram and WhatsApp were anti-competitive.Representatives from Google, Looker and the Justice Department declined to comment.The Justice Department and a coalition of attorneys general made up of most U.S. states in the country have opened antitrust cases against Google. Those probes are mostly focused on the company’s dominant search and advertising businesses.Looker, closely held and based in Santa Cruz, California, provides tools that lets companies analyze their data stored in the cloud, a service that competes with offerings from Amazon and Microsoft. When Google announced the deal, its cloud chief, Thomas Kurian, said the company would continue to let Looker customers use other cloud providers. Google doesn’t share cloud sales.Google once spent lavishly on companies, dropping billions on device makers Motorola and Nest, as well as experimental tech like satellites and robots. More recently, the company’s acquisitions have mostly been relatively small deals in the cloud sector.It’s common for antitrust authorities to open in-depth investigations for sizable mergers, but more recently have faced criticism for allowing large tech companies to buy startups as a way to gain footholds in new markets. That charge has been aimed at Google after its takeovers of Waze, DoubleClick and YouTube. The Justice Department in July announced a broad antitrust review of the big internet platforms in search, social media and online retail.To contact the reporters on this story: Mark Bergen in San Francisco at mbergen10@bloomberg.net;Sarah McBride in San Francisco at smcbride24@bloomberg.net;David McLaughlin in Washington at dmclaughlin9@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, ;Sara Forden at sforden@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Overstock.com (OSTK) Stock Sinks As Market Gains: What You Should Know
    Zacks

    Overstock.com (OSTK) Stock Sinks As Market Gains: What You Should Know

    Overstock.com (OSTK) closed at $10.67 in the latest trading session, marking a -1.66% move from the prior day.

  • Bloomberg

    Trade Deal Is ‘Game Changer’ for Tech Stocks, Wedbush Says

    (Bloomberg) -- The partial U.S.-China trade agreement is a “game changer” for technology stocks, at least according to one analyst.The deal announced by President Trump in the last hour of trading on Friday points to “brighter days” in relations between the two countries and makes it unlikely the U.S. will follow through with the more than $160 billion in tariffs slated to take effect Dec. 15, Wedbush Securities analyst Daniel Ives said. Concerns around those tariffs have resulted in a 10% to 15% discount on U.S. technology stocks by his estimation and the removal could “unleash a ‘risk on’ scenario” into year-end.Technology stocks had rallied throughout Friday’s session on speculation that some form of trade agreement was near. The shares pared some of those gains as investors realized that several of the thorniest issues, including those related to Huawei Technologies Co., remain unresolved. Huawei, which was blacklisted earlier this year, is a major buyer of U.S. electronic components.The late pullback wasn’t enough to prevent Apple Inc. from closing at a record and overtaking Microsoft Corp. as the world’s most valuable company. Greater China accounted for about 17% of Apple’s revenue in the fiscal third quarter and is home to a key portion of its supply chain. The Philadelphia semiconductor index also notched a 2.3% gain for the session, its best performance in a month.To contact the reporter on this story: Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.netTo contact the editor responsible for this story: Catherine Larkin at clarkin4@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Facebook Q3 2019 Earnings Preview: Time to Buy FB Stock?
    Zacks

    Facebook Q3 2019 Earnings Preview: Time to Buy FB Stock?

    Let's take a look at what investors need to know about Facebook and some of its Q3 estimates to help us determine if FB stock might be worth buying before the social media company reports its Q3 2019 earnings results...

  • Why AMD Stock Could Surge after Its Q3 Earnings
    Market Realist

    Why AMD Stock Could Surge after Its Q3 Earnings

    Some options traders are actively betting that AMD stock will rise after the company reports its Q3 earnings at the end of October. Let's look closer.

  • Apple’s Record High Edges Out Microsoft Amid Trade Deal Hope
    Bloomberg

    Apple’s Record High Edges Out Microsoft Amid Trade Deal Hope

    (Bloomberg) -- Apple Inc. shares closed at a record on Friday as investors looked past a year marked by turmoil from the U.S.-China trade war and uncertain demand for the iPhone, a product that Apple is moving away from, but which remains central to its business.The stock rose 2.7% to $236.21 in New York, exceeding the prior high set just over a year ago. The move made Apple the most-valuable U.S. company again, topping Microsoft Corp. Both have a market value of more than $1 trillion. Earlier, the U.S. and China agreed on the outlines of a partial trade accord.The record is the culmination of a pronounced rally throughout 2019, a year that started on a highly bearish note, as Apple cut its revenue outlook for the first time in nearly 20 years. That move, taken in response to a weak outlook for iPhones upgrades and China’s economy, took the stock to its lowest level since April 2017.Since then, however, shares have been on a nearly uninterrupted march higher, with the stock higher in seven of the past nine months, not including October’s month-to-date gain of about 4%. Apple has climbed more than 60% off its January low, returning its valuation back above $1 trillion.Just as Apple’s weakness in the fourth quarter of 2018 was largely driven by concern over iPhone demand, the 2019 recovery has come on an easing of those fears. CEO Tim Cook recently told the German newspaper Bild that he “couldn’t be happier” with the launch of Apple’s recently released iPhone 11, and it was reported in early October that Apple had told suppliers to increase production. Analysts, in turn, have been growing more positive on demand, while also anticipating that next year’s model -- expected to be the first 5G version -- will be a blockbuster.In other respects, Apple is a different company from when it was last trading at all-time highs a year ago. The Cupertino, California-based firm is reinventing itself as a services-based company, with such initiatives as streaming video, video games and a credit card. In another change, the historically high-end gadget-maker unveiled these new businesses and products at less-aggressive prices.Despite the new-found focus on services, the iPhone continues to be Apple’s keystone product. Nearly half of its third-quarter revenue came from the product, compared with the 21.3% that was derived from services.Apple is expected to report fourth-quarter results on Oct. 30. Analysts are looking for earnings of $2.84 a share on revenue of $62.9 billion, according to data compiled by Bloomberg. That represents a decline of 2.6% for earnings and flat sales growth.According to a Bloomberg MODL estimate, it will ship 41.9 million iPhones in the quarter, at an average selling price of $770.35. That would represent a year-over-year drop of 14.5% for shipments, and a 3.1% decline in average price.(Updates with closing shares in the second paragraph.)To contact the reporter on this story: Ryan Vlastelica in New York at rvlastelica1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Brad OlesenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Lisa Su Marks a Productive Five Years as AMD’s CEO
    Market Realist

    Lisa Su Marks a Productive Five Years as AMD’s CEO

    Today, Lisa Su completed five years as the CEO of AMD. In these five years, she's brought it back from near bankruptcy and made it into a worthy competitor.

  • What to Expect from Q3 Earnings Season with Big Banks Set to Report?
    Zacks

    What to Expect from Q3 Earnings Season with Big Banks Set to Report?

    What to Expect from Q3 Earnings Season with Big Banks Set to Report?

  • Women CEOs: 5 Names You Should Know
    Market Realist

    Women CEOs: 5 Names You Should Know

    Of all the Fortune 500 companies, only 5% have women CEOs. We rounded up five of the biggest names investors should know. Here's why.

  • PlayStation 5: Will Sony Uphold Its Gaming Legacy?
    Market Realist

    PlayStation 5: Will Sony Uphold Its Gaming Legacy?

    The 2020 holiday season will mark the onset of the next generation of console wars. According to Sony, that's when it will launch the PlayStation 5.

  • Why Microsoft Stock Could Surge after Its Earnings
    Market Realist

    Why Microsoft Stock Could Surge after Its Earnings

    Microsoft (MSFT) shares have returned 0.5% over the past month. The return shows that the company is outperforming the US software industry's loss of 2.9%.

  • Space firm founded by billionaire Paul Allen sold to new owner
    Reuters

    Space firm founded by billionaire Paul Allen sold to new owner

    Stratolaunch Systems Corp, the space company founded by late billionaire and Microsoft Corp co-founder Paul Allen, said on Friday it was continuing operations after transitioning ownership, but did not name the new owner. The company, a unit of Allen's privately-held investment vehicle Vulcan Inc, had been developing a fleet of launch vehicles, including the world's largest aeroplane by wingspan, to send satellites and eventually humans into space. Allen, who founded Seattle-based Stratolaunch in 2011, died at age 65 in October.

  • Google Eyes Cloud Development in LATAM: Rivals on Its Radar
    Zacks

    Google Eyes Cloud Development in LATAM: Rivals on Its Radar

    Alphabet's (GOOGL) Google Cloud mobilizes its resources to increase headcount in LATAM. This augurs well for its deepened focus on solidifying footprint in the region.

  • It's all about earnings for investors
    Yahoo Finance

    It's all about earnings for investors

    The stock market may be on a trade-talk induced high, but market analysts say a sustainable rally can’t be supported without fundamental strength in earnings.

  • The Zacks Analyst Blog Highlights: Apple, Microsoft, Garmin, Cirrus Logic and Synopsys
    Zacks

    The Zacks Analyst Blog Highlights: Apple, Microsoft, Garmin, Cirrus Logic and Synopsys

    The Zacks Analyst Blog Highlights: Apple, Microsoft, Garmin, Cirrus Logic and Synopsys

  • The Zacks Analyst Blog Highlights: JPMorgan, CME, Chubb, S&P Global and Ford
    Zacks

    The Zacks Analyst Blog Highlights: JPMorgan, CME, Chubb, S&P Global and Ford

    The Zacks Analyst Blog Highlights: JPMorgan, CME, Chubb, S&P Global and Ford

  • Will Q3 Earnings Drive Dow ETF Higher?
    Zacks

    Will Q3 Earnings Drive Dow ETF Higher?

    With most blue-chip companies earnings scheduled over the coming weeks and sentiments being mixed, investors should closely monitor the movement of the Dow ETF and grab an opportunity that arises from a surge in any of the 30 stocks.

  • PC Shipment Rises in Q3: LNVGY, HPQ, DELL & AAPL in Focus
    Zacks

    PC Shipment Rises in Q3: LNVGY, HPQ, DELL & AAPL in Focus

    Per Gartner and IDC, PC shipment volumes in third-quarter 2019 expand owing to the Windows 10 refresh cycle.

  • Is Microsoft (MSFT) Outperforming Other Computer and Technology Stocks This Year?
    Zacks

    Is Microsoft (MSFT) Outperforming Other Computer and Technology Stocks This Year?

    Is (MSFT) Outperforming Other Computer and Technology Stocks This Year?

  • Square Stock: Why Hedge Funds Are Adding Stakes
    Market Realist

    Square Stock: Why Hedge Funds Are Adding Stakes

    Lately, many hedge fund managers, institutional investors, and analysts are going gaga over Square stock due to its strong fundamentals and Cash App focus.

  • Stocks to buy on trade deal, earnings - Kramer
    Reuters Videos

    Stocks to buy on trade deal, earnings - Kramer

    JPMorgan Chase and 3M are among a list of stocks investors should consider buying ahead of the start of earnings season next week and a potential U.S.-China trade deal, Kramer Capital Research's Hilary Kramer tells Reuters' Fred Katayama