Hewlett Packard Enterprise (HPE) announced Meg Whitman will step down as CEO effective February 1. She will be replaced by current President Antonio Neri and both Whitman and Neri will be on the board. Whitman said in a statement, “Now is the right time for Antonio and a new generation of leaders to
Apple’s (AAPL) iPhone X supplier, Foxconn, reportedly had students illegally working overtime to assemble the flagship device. According to the Financial Times, six high school students said they worked 11-hour shifts to help assemble the tech giant’s new phone at a factory in Zhengzhou, China. The
Goldman Sachs downgraded Walmart (WMT) to Neutral from Buy and assigned a new price target of $100 a share. In a note to clients, Goldman analyst Matthew Fassler cited concerns about the stock’s current valuation. Shares of Walmart have jumped nearly 40% since the start of the year. Japanese antitrust
Hasbro (HAS) has reportedly offered to buy Mattel (MAT), according to the Wall Street Journal. Shares of Mattel jumped on the news, surging about 22% at the open. Mattel was last trading at $17.44 a share, while Hasbro was up 7.7% at $98.49 a share.
Yahoo Finance’s call of the week is a series of downgrades on Snap (SNAP), the parent company of Snapchat. UBS, JPMorgan, RBC Capital Markets, Stifel and Morgan Stanley all lowered their ratings on the social media company following its disappointing third-quarter results. One downgrade in particular
Nvidia (NVDA) shares hit an all-time high after the company topped Wall Street earnings expectations and raised its dividend by 7% to 15 cents a share. Revenue in its gaming division totaled $1.56 billion and its data center sales handedly beat estimates at $501 million. In the earnings statement,
This time, Morgan Stanley lowered its rating on the stock to Underweight from Equalweight and cut its price target to $11 a share from $14. UBS, JPMorgan, RBC Capital Markets and Stifel cut their ratings on Snap Wednesday following the company’s disappointing quarterly results. In a note to clients
Snap (SNAP) is sinking after revenue and daily active users missed estimates. Snap also said it lost nearly $40 million from unsold Spectacles, its video-recording glasses. CEO Evan Spiegel said in prepared remarks that the company is working to redesign its app to make it easier to use.
Valeant (VRX) shares are surging after posting a better-than-expected third-quarter profit and revenue that topped Wall Street’s expectations. Valeant reported adjusted quarterly earnings of $1.04 on revenue of $2.22 billion. Valeant shares were last trading up 16.6% at $14.03 a share.
Sprint (S) and T-Mobile (TMUS) are in focus after the two telecom giants called off merger talks. This marks the second time the third- and fourth-largest wireless carriers have failed to reach a deal. Sprint and T-Mobile said talks ended because they “were unable to find mutually agreeable terms.”
A contrarian call on Tesla (TSLA) is Yahoo Finance’s call of the week. The electric carmaker disappointed Wall Street after reporting a wider-than-expected loss during the third quarter and pushed back the timeline of its production targets for the Model 3. CEO Elon Musk now expects Tesla to produce
In a note to clients, GBH Insights’ Dan Ives wrote, “Apple delivered what we would characterize as robust September results and more importantly gave December guidance which indicates that iPhone X demand is off to a ‘white hot’ start in our opinion.” The stock was last trading up 2.2% at $171.80 a
Wall Street is waiting for Apple (AAPL) to report its fiscal fourth-quarter earnings after the bell today. Analysts will want to hear from CEO Tim Cook about demand for the tech giant’s three new phones: iPhone 8, 8 Plus and iPhone X. They’ll also want to hear from Cook about supply issues. According
Tesla (TSLA) will report third-quarter results after the market closes today, and the focus will be production delays. The electric carmaker only delivered 220 Model 3s during the quarter, a fraction of the number CEO Elon Musk had previously predicted. Tesla initially planned to produce 1,500 Model
The company posted adjusted earnings per share of 22 cents on revenue of $1.4 billion in the third quarter, versus Wall Street expectations of 19 cents and sales of $1.5 billion. In a statement, CEO Kevin Plank said, “While our international business continues to deliver against our ambition of building
Under Armour (UA) is in focus following a downgrade by Bank of America. Analyst Robert Ohmes noted a challenging environment for sales of athletic footwear and apparel in North America and said he expects Under Armour to lower its fourth-quarter guidance. Goldman Sachs downgraded General Motors (GM
General Electric (GE) is having a tough time reassuring Wall Street that its turnaround strategy will be successful. The company received a pair of downgrades earlier this week, prompting the stock to close at its lowest level in four and a half years—and shares haven’t recovered since. The two downgrades
Amazon’s (AMZN) stock is surging after the e-commerce giant crushed earnings expectations. Amazon Web Services’ revenue jumped 42% from a year ago. Daniel Ives of GBH Insights wrote in a note to clients that Amazon’s results were “a Picasso-like quarter with the company handily beating all metrics
Amazon (AMZN) is scheduled to release third-quarter earnings after the bell this afternoon. The third quarter has historically been a big investment quarter for Amazon, so analysts will be keeping a close eye on spending. There’s concern that Amazon’s decision to cut costs in an effort to compete with
“This is a rip-roaring labor market,” said Mark Zandi, chief economist at Moody’s, during Yahoo Finance’s All Markets Summit on Wednesday. Zandi says the risk of a downward jobs trend is limited. Yahoo Finance’s Seana Smith speaks with Mark Zandi, chief economist at Moody’s, and Julie Sweet, Accenture
McDonald’s (MCD) reported mixed earnings ahead of the bell this morning, posting earnings per share of $1.76 on revenue of $5.8 billion. Analysts were expecting a profit of $1.77 on sales of $5.7 billion. US same-store sales growth of 4.1% topped Wall Street forecasts as promotions, including McDonald
Negotiations between T-Mobile (TMUS) and Sprint (S) reportedly continue, and the two wireless giants are expected to reach an agreement by mid November, according to CNBC. Wall Street was initially expecting a deal between T-Mobile and Sprint to be announced during their earnings results this month.
Apple (AAPL), the high-flying darling of Wall Street that’s up more than 35% so far this year, took a hit this week as traders digested reports of weak demand and production cuts for the iPhone 8. A Taiwan-based newspaper reported Apple slashed orders for the iPhone 8 and iPhone 8 Plus by about 50%
RBC Capital lowered its price target for Chipotle Mexican Grill (CMG) to $330 from $400 on concern about sales, increasing labor costs, the chain’s disappointing queso launch and higher avocado prices. In a note to clients, titled “Worst queso scenario,” analyst David Palmer wrote, “We suspect that