Apple became the first U.S. company to top $1 trillion in market value on Thursday, leading a rebound in technology stocks that helped Wall Street pare losses and turned the Nasdaq positive.
Donna Fenn bought shares of Apple Inc in the 1980s on the recommendation of a stockbroker a good friend of hers was dating. She’d heard of the company because its co-founder Steve Jobs had appeared on the cover of the magazine she worked for.
Apple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications.
A deepening trade dispute between the United States and China weighed on global stocks and bond yields on Thursday, prompting investors to shed risky assets in favor of safer ones amid uncertainty over future tariffs.
Kellogg Co reported lower-than-expected quarterly profit margins on Thursday as the cereal maker spent more on marketing and transportation and had to cut prices on snack foods after it stopped distributing them directly to U.S. retailers.
Teva Pharmaceutical Industries on Thursday raised its profit outlook for 2018 after reporting a smaller than expected drop in second-quarter net profit, but its shares tumbled eight percent on disappointment over its unchanged revenue outlook. The world’s largest generic drugmaker also reaffirmed that the U.S. Food and Drug Administration is due to make a decision in the middle of September for its migraine treatment fremanezumab, which it had originally hoped to launch in June. “We will be ready to launch immediately after,” CEO Kare Schultz told a conference call. …read more […]
IPhone maker Apple has to date paid two-thirds of the 13 billion euros ($15.1 billion) which EU antitrust regulators said it owes Ireland in back taxes, the company said in a regulatory filing late on Wednesday.
Shares of Tesla Inc jumped 11 percent on Thursday, after the company convinced investors that it was able to yield positive cash flow and turn a profit, and Chief Executive Officer Elon Musk apologized for past incendiary remarks.
Shares of Blue Apron Holdings Inc slumped over 23 percent on Thursday after the meal-kit delivery company’s second-quarter revenue came in below estimates as fewer customers signed up for its service.
The number of Americans filing for unemployment benefits rose less than expected last week, pointing to sustained strength in the labor market despite trade tensions.
U.S. stocks fell on Thursday, weighed down by financials, as worries of a trade war between the United States and China were heightened after President Donald Trump proposed 25 percent tariffs on $200 billion worth of Chinese imports.
New orders for U.S.-made goods rose for a second straight month in June, but business spending plans on equipment were not as strong as initially thought, suggesting a further slowdown was likely in the third quarter.
U.S. stocks opened lower on Thursday, after technology stocks fell, as fears of a trade war between the United States and China were sparked after President Donald Trump proposed 25 percent tariffs on $200 billion worth of Chinese imports.
The number of Americans filing for unemployment benefits rose less than expected last week, pointing to sustained strength in the labor market despite trade tensions.
BMW’s said it is producing between 10,000 and 20,000 X5 sports utility vehicles in Thailand as a way to supply Chinese customers now that imported vehicles from the United States face a 40 percent tariff.
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