The Coronavirus is casting a large shadow on the toy industry, and many companies, including some of America’s small businesses, are struggling to cope with the financial losses.
Holiday retail sales jumped 3.4% this year according to Mastercard’s most recent report, but not all retail chains are feeling the holiday cheer. Jerry Storch, former Toys ‘R’ Us CEO, says department stores are suffering, and that’s because many are using ‘a century old business model which basically hasn’t changed.’
Amazon and Verizon are teaming up to deliver 5G Edge Cloud Computing, bringing the processing power and storage closer to 5G users and wireless devices at faster speeds and ultra-low latency.
Bitcoin prices have soared 220% so far this year, and the gains could be far from over. Anthony Pompliano, Morgan Creek Digital Assets Partner, told Yahoo Finance’s ‘The Ticker’ that Bitcoin will eclipse $100,000 by the end of 2021.
The fast-growing $384 billion space industry is generating investor interest, and one recently launched exchange-traded fund, Procure Space ETF (UFO), is giving Wall Street a way to play the sector.
It was a record year for Broadway as box office sales soared to $1.83 billion, topping last year’s total of $1.697 billion, while total attendance jumped 7.1% year-over-year to 14.8 million, according to the Broadway League.
Advanced Auto Parts closed Wednesday to the upside on the heels of its better-than-expected earnings report. The auto-parts retailer recorded its seventh straight day of gains, marking its longest winning streak since November 2, 2015.
Wall Street’s closely watching President Trump’s strategy on trade as tension between the US and China reignites. The tit-for-tat tariff approach has rattled the markets in recent weeks, throwing into question the potential economic impact of a full-blown trade war.
George Seay, Annandale Capital founder, told Yahoo Finance that the best way to play the trade dispute is to be more conservative, and thinks Goldman’s call on favoring services stocks is ‘absurd.’
The escalation of the trade battle between the U.S. and China has raised the stakes for both sides of the dispute, but it’s too early to gauge the potential fallout, according to Michael Gapen, Barclays U.S. Chief Economist.
Douglas Holtz-Eakin, president of American Action Forum, spoke at Yahoo Finance's All Markets Summit about the U.S. government sliding deeper into the red.
It’s no secret — Americans have a hard time detaching from work, and with the rise of technology, it’s become even more challenging. According to a forecast by Airlines for America (A4A), 246.1 million passengers are expected to fly with U.S. airlines between June 1 and Aug. 31, 2018. Steve McClatchy, a leading time management & productivity expert and author of “Decide: Work Smarter, Reduce Your Stress, and Lead By Example,” tells Yahoo Finance’s Seana Smith that businesses benefit from employees taking more time off because it boosts their productivity.
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 take the reins of HPE.
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 report said the six were among 3,000 students sent to work in the factory in September. Apple shares were last trading at $173.47, a few bucks shy of their all-time high hit earlier this month. The Justice Department has filed a federal lawsuit to block the $85 billion merger between AT&T (T) and Time Warner (TWX).
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 regulators are close to approving Qualcomm’s (QCOM) buyout of NXP Semiconductors, according to a report by Reuters.
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, Morgan Stanley’s, is interesting because the firm was the lead underwriter of Snap’s IPO. In a note to clients, analyst Brian Nowak discussed “monetization and engagement challenges” facing Snap and cut the price target on the stock to $11.
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, Nvidia founder and CEO Jensen Huang touted the company’s results, saying “We had a great quarter across all of our growth drivers. Industries across the world are accelerating their adoption of AI.” Nvidia shares have soared about 220% over the past year.
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, Morgan Stanley analyst Brian Nowak cited monetization challenges one of the reasons for the downgrade. Snap shares were last trading down 3.5% at 12.46 a share.
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.” In a statement, Sprint President and CEO and SoftBank Board member Marcelo Claure said, “We have agreed that it is best to move forward on our own.