Sony is buying ‘Spider-Man’ and ‘Ratchet & Clank’ developer Insomniac Games

Marvel Spider-Man signage is seen at the Sony Corp. PlayStation booth during the E3 Electronic Entertainment Expo in Los Angeles, California, U.S., on Tuesday, June 12, 2018. Sony’s gaming division announced late Monday that it will buy U.S. video game developer Insomniac Games. The acquisition follows a more than 20-year relationship between the two companies on a host of popular games exclusive to Sony’s PlayStation console, including “Spider-Man,” “Rachet & Clank” and “Resistance.” “We have e


Marvel Spider-Man signage is seen at the Sony Corp. PlayStation booth during the E3 Electronic Entertainment Expo in Los Angeles, California, U.S., on Tuesday, June 12, 2018. Sony’s gaming division announced late Monday that it will buy U.S. video game developer Insomniac Games. The acquisition follows a more than 20-year relationship between the two companies on a host of popular games exclusive to Sony’s PlayStation console, including “Spider-Man,” “Rachet & Clank” and “Resistance.” “We have e
Sony is buying ‘Spider-Man’ and ‘Ratchet & Clank’ developer Insomniac Games Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: ryan browne
Keywords: news, cnbc, companies, studios, sony, games, developer, worldwide, gaming, spiderman, ratchet, sie, insomniac, playstation, wws, buying, clank, video


Sony is buying 'Spider-Man' and 'Ratchet & Clank' developer Insomniac Games

Marvel Spider-Man signage is seen at the Sony Corp. PlayStation booth during the E3 Electronic Entertainment Expo in Los Angeles, California, U.S., on Tuesday, June 12, 2018.

Sony’s gaming division announced late Monday that it will buy U.S. video game developer Insomniac Games.

The acquisition follows a more than 20-year relationship between the two companies on a host of popular games exclusive to Sony’s PlayStation console, including “Spider-Man,” “Rachet & Clank” and “Resistance.”

Sony Interactive Entertainment (SIE) said the company would be run by current management and SIE’s video game development arm in San Mateo, California, once the deal closes. Financial terms were not disclosed.

“We have enjoyed a strong collaborative partnership with the studio for many years, and are thrilled to officially welcome them to the Worldwide Studios family,” Shawn Layden, chairman of SIE Worldwide Studios (WWS), said in a statement Monday.

“The addition of Insomniac Games to SIE WWS reiterates our commitment to developing world class gaming experiences that can only be found on the PlayStation platform.”

The deal could be an important one for Sony, as the gaming giant looks to build on its success with exclusive titles to rival Microsoft’s Xbox console, and as the PlayStation 4 approaches the end of its life cycle.


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: ryan browne
Keywords: news, cnbc, companies, studios, sony, games, developer, worldwide, gaming, spiderman, ratchet, sie, insomniac, playstation, wws, buying, clank, video


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US grants Huawei another 90 days to buy from American suppliers: Ross

Asked what will happen in November to U.S. companies, Ross said: “Everybody has had plenty of notice of it, there have been plenty of discussions with the president.” The U.S. government blacklisted Huawei, alleging the Chinese company is involved in activities contrary to national security or foreign policy interests. Huawei, the world’s largest telecommunications equipment maker, is still prohibited from buying American parts and components to manufacture new products without additional specia


Asked what will happen in November to U.S. companies, Ross said: “Everybody has had plenty of notice of it, there have been plenty of discussions with the president.” The U.S. government blacklisted Huawei, alleging the Chinese company is involved in activities contrary to national security or foreign policy interests. Huawei, the world’s largest telecommunications equipment maker, is still prohibited from buying American parts and components to manufacture new products without additional specia
US grants Huawei another 90 days to buy from American suppliers: Ross Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: spencer kimball
Keywords: news, cnbc, companies, grants, chinese, companies, american, commerce, 90, buy, company, told, wilbur, buying, telecommunications, suppliers, days, huawei, ross


US grants Huawei another 90 days to buy from American suppliers: Ross

Commerce Secretary Wilbur Ross (R) and other Trump Administration officials sit down with Chinese vice ministers and senior officials for trade negotiations in the Diplomatic Room at the Eisenhower Executive Office Building January 30, 2019 in Washington, DC.

U.S. Commerce Secretary Wilbur Ross said Monday the U.S. government will extend a reprieve given to Huawei Technologies that permits the Chinese firm to buy supplies from U.S. companies so that it can service existing customers, even as nearly 50 of its units were being added to a U.S. economic blacklist.

The “temporary general license,” due to expire on Monday, will be extended for Huawei for 90 days, he told Fox Business Network Monday, confirming an expected decision first reported Friday by Reuters. He also said he was adding 46 Huawei affiliates to the Entity List, raising the total number to more than 100 Huawei entities that are covered by the restrictions.

Ross said the extension was to aid U.S. customers, many of which operate networks in rural America.

“We’re giving them a little more time to wean themselves off,” Ross said.

Shortly after blacklisting the company in May, the Commerce Department initially allowed Huawei to purchase some American-made goods in a move aimed at minimizing disruption for its customers.

Huawei did not immediately comment Monday.

The extension, through Nov. 19, renews an agreement continuing the Chinese company’s ability to maintain existing telecommunications networks and provide software updates to Huawei handsets.

Asked what will happen in November to U.S. companies, Ross said: “Everybody has had plenty of notice of it, there have been plenty of discussions with the president.”

When the Commerce Department blocked Huawei from buying U.S. goods earlier this year, it was seen as a major escalation in the Sino-U.S.trade war.

The U.S. government blacklisted Huawei, alleging the Chinese company is involved in activities contrary to national security or foreign policy interests.

As an example, the blacklisting order cited a pending federal criminal case concerning allegations Huawei violated U.S. sanctions against Iran. Huawei has pleaded not guilty in the case.

The order noted that the indictment also accused Huawei of deceptive and obstructive acts.

At the same time the United States says Huawei’s smartphones and network equipment could be used by China to spy on Americans, allegations the company has repeatedly denied.

Huawei, the world’s largest telecommunications equipment maker, is still prohibited from buying American parts and components to manufacture new products without additional special licenses.

Many Huawei suppliers have requested the special licenses to sell to the firm. Ross told reporters late last month he had received more than 50 applications, and that he expected to receive more. He said on Monday that there were no “specific licenses being granted for anything.”

Out of $70 billion that Huawei spent buying components in 2018, some $11 billion went to U.S. companies including Qualcomm, Intel, and Micron Technology. Intel declined to comment on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: spencer kimball
Keywords: news, cnbc, companies, grants, chinese, companies, american, commerce, 90, buy, company, told, wilbur, buying, telecommunications, suppliers, days, huawei, ross


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‘Greenland belongs to Greenland’: Denmark says selling world’s largest island to US is absurd

Greenland is not for sale and the idea of selling it to the United States is absurd, Denmark’s prime minister said on Sunday after an economic adviser to President Donald Trump confirmed the U.S. interest in buying the world’s largest island. Greenland belongs to Greenland. I strongly hope that this is not meant seriously,” Danish Prime Minister Mette Frederiksen told the newspaper Sermitsiaq during a visit to Greenland. White House economic adviser Larry Kudlow on Sunday confirmed media reports


Greenland is not for sale and the idea of selling it to the United States is absurd, Denmark’s prime minister said on Sunday after an economic adviser to President Donald Trump confirmed the U.S. interest in buying the world’s largest island. Greenland belongs to Greenland. I strongly hope that this is not meant seriously,” Danish Prime Minister Mette Frederiksen told the newspaper Sermitsiaq during a visit to Greenland. White House economic adviser Larry Kudlow on Sunday confirmed media reports
‘Greenland belongs to Greenland’: Denmark says selling world’s largest island to US is absurd Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-18
Keywords: news, cnbc, companies, denmark, trump, kudlow, greenland, president, belongs, selling, prime, minister, visit, worlds, largest, buying, told, island, danish, absurd


'Greenland belongs to Greenland': Denmark says selling world's largest island to US is absurd

Greenland is not for sale and the idea of selling it to the United States is absurd, Denmark’s prime minister said on Sunday after an economic adviser to President Donald Trump confirmed the U.S. interest in buying the world’s largest island.

“Greenland is not for sale. Greenland is not Danish. Greenland belongs to Greenland. I strongly hope that this is not meant seriously,” Danish Prime Minister Mette Frederiksen told the newspaper Sermitsiaq during a visit to Greenland.

Trump’s is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings with Frederiksen and Prime Minister Kim Kielsen of Greenland, an autonomous Danish territory.

White House economic adviser Larry Kudlow on Sunday confirmed media reports earlier in the week that Trump had privately discussed with his advisers the idea of buying Greenland.

“I don’t want to predict an outcome, I’m just saying the president, who knows a thing or two about buying real estate, wants to take a look at a Greenland purchase,” Kudlow told Fox News.

Kudlow said the situation was “developing” and noted that U.S. President Harry Truman also had wanted to buy Greenland.

“And Denmark owns Greenland, Denmark is an ally, Greenland is a strategic place, up there. And they’ve got a lot of valuable minerals,” Kudlow added.


Company: cnbc, Activity: cnbc, Date: 2019-08-18
Keywords: news, cnbc, companies, denmark, trump, kudlow, greenland, president, belongs, selling, prime, minister, visit, worlds, largest, buying, told, island, danish, absurd


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These stocks fell after earnings, but Wall Street analysts see a buying opportunity

CNBC combed through Wall Street research to find stocks that analysts defended after the market knocked down their stock. So far this earnings season, 73% of the S&P 500 companies have beaten earnings estimates, according to Refinitiv. Global investment management firm Victory Capital reported earnings on Tuesday that missed on the topline and fell short of expectations, according to analysts at William Blair. Earlier this week, Argentina’s stock market tanked after the country’s president suffe


CNBC combed through Wall Street research to find stocks that analysts defended after the market knocked down their stock. So far this earnings season, 73% of the S&P 500 companies have beaten earnings estimates, according to Refinitiv. Global investment management firm Victory Capital reported earnings on Tuesday that missed on the topline and fell short of expectations, according to analysts at William Blair. Earlier this week, Argentina’s stock market tanked after the country’s president suffe
These stocks fell after earnings, but Wall Street analysts see a buying opportunity Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-17  Authors: michael bloom
Keywords: news, cnbc, companies, shares, season, wrestling, opportunity, market, companies, wall, company, stock, earnings, reported, buying, analysts, stocks, fell, street


These stocks fell after earnings, but Wall Street analysts see a buying opportunity

World Wrestling Entertainment Inc. Chairman Vince McMahon (L) and wrestler Triple H appear in the ring during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009

Earnings season is just about over and some companies blew it, with their shares dropping after reporting results. But that drop could be an opportunity.

CNBC combed through Wall Street research to find stocks that analysts defended after the market knocked down their stock.

So far this earnings season, 73% of the S&P 500 companies have beaten earnings estimates, according to Refinitiv. Earnings for the S&P 500 are up 2.9% in the second quarter.

The U.S.-China trade war, market volatility, and global growth fears continue to weigh on the minds of companies and investors alike as earnings season comes to a close. But many Wall Street analysts are advising clients there is still plenty of value to be found among the growing sea of uncertainty.

The names include companies like Victory Capital Holdings, MercadoLibre, Fastly, World Wrestling Entertainment, and Bloom Energy.

Global investment management firm Victory Capital reported earnings on Tuesday that missed on the topline and fell short of expectations, according to analysts at William Blair.

The stock tanked due to what an analyst called “a timing issue, with inflows coming in late in the quarter rather than being spread evenly across the quarter.” Inflows refers to the amount of cash coming into the business.

The firm went on to say in a note that the stock reaction was “overblown” and “we would be buyers on weakness,.”

Shares of the company are down 8% on the week.

Earlier this week, Argentina’s stock market tanked after the country’s president suffered an election upset against the opposition candidate.

Argentinean company MercadoLibre also reported earnings this week and while analysts at Deutsche Bank said they were “strong,” the e-commerce retailer may have also been the victim of bad timing due to the ongoing events in the country.

“Given robust underlying fundamentals, large total addressable market, and MELI’s track record at weathering both regulatory and FX challenges in the past, we think the dip is largely an overreaction which has created a buying opportunity for investors who can withstand short term volatility,” they said.

The stock is down 9% on the week.

World Wrestling Entertainment reported strong bottom-line results in late July. Shares of the company took a bit of a beating as of late but have quickly rallied back.

The company has also been the subject of several buy initiations and upgrades recently, including one from Rosenblatt analysts on Thursday.

“Our thesis on the media industry is content is king and view WWE as one of the best public market ways to benefit from this theme,” they wrote. “We see the recent pullback in shares driven by concerns over ratings and quarterly estimate revisions as a buying opportunity.”

Here’s what else analysts are saying about stocks to buy after an earnings pullback:


Company: cnbc, Activity: cnbc, Date: 2019-08-17  Authors: michael bloom
Keywords: news, cnbc, companies, shares, season, wrestling, opportunity, market, companies, wall, company, stock, earnings, reported, buying, analysts, stocks, fell, street


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I bought my first car on Craigslist—here’s exactly what the process was like in 6 steps

That’s when I decided to try Craigslist, which lets you search for used cars and trucks for sale in your city. The VIN is a 17-digit number that’s assigned to every car in the U.S. and allows you to pull a Carfax vehicle history report. I inspected the interior and exterior of the vehicle, asked about the features, reviewed the maintenance records and took it out for a spin. I bought car insuranceTo register the car in my name, I would need proof of insurance. Don’t miss: 3 important questions t


That’s when I decided to try Craigslist, which lets you search for used cars and trucks for sale in your city. The VIN is a 17-digit number that’s assigned to every car in the U.S. and allows you to pull a Carfax vehicle history report. I inspected the interior and exterior of the vehicle, asked about the features, reviewed the maintenance records and took it out for a spin. I bought car insuranceTo register the car in my name, I would need proof of insurance. Don’t miss: 3 important questions t
I bought my first car on Craigslist—here’s exactly what the process was like in 6 steps Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: kathleen elkins
Keywords: news, cnbc, companies, buy, car, process, used, asked, vehicle, cars, bought, history, dealerships, buying, steps, craigslistheres, exactly, seller


I bought my first car on Craigslist—here's exactly what the process was like in 6 steps

Having lived in New York City for the past five years, it’s been a while since I’ve had a car — and all of the expenses that come with one: insurance, gas and maintenance, to name a few. But when I moved to Los Angeles this month, where pretty much everybody drives, all of that changed. I’ve never bought a car on my own (my parents helped me navigate the process in high school) and I had no idea where to start, so I consulted experts about steps to take, common mistakes and negotiation tactics. I didn’t intend to buy on Craigslist — I’d never even used the site before — but wound up finding exactly what I wanted within the budget I had set. Here’s what the process was like.

1. I figured out exactly what I wanted

According to the experts, before you walk into a dealership or start test-driving cars, you should know exactly what type of vehicle you want to buy. Settling on something within your budget that is right for you and your lifestyle is important for two reasons: If you’re shopping at dealerships and show indecisiveness, “you’re at the mercy of the salesperson,” former car salesman David Weliver, who now runs personal finance website Money Under 30, told me. If the sales rep is good at their job, they’ll play off your emotions and steer you towards something that’s more profitable for them and more expensive for you. Secondly, if you don’t pick a car within your budget ahead of time, by the time you start test-driving, it’ll be easier to convince yourself to buy more than you can afford.

I knew that I wanted a small SUV with decent gas mileage. I also knew that I wanted to buy used and keep the total cost under $12,000 so that I could pay in cash and avoid financing the car. That in mind, I settled on the Toyota RAV4, which I’d driven as a rental car before and liked. Since I didn’t have many specific requirements or must-have features, I didn’t labor over choosing the perfect model. If you want to put more time and effort into the selection process, you can use tools like Edmunds.com and Kelley Blue Book to research different cars, read reviews and compare models side-by-side.

2. I shopped around

Once you know what you want, experts recommend getting quotes from at least three dealerships. Using Kelley Blue Book, which lets you search for specific used cars in your area, I reached out to a few dealerships and asked for the total selling price of the car I was interested in. Immediately after I expressed interest, emails, phone calls and even text messages from sales reps started flooding in. It was overwhelming, hectic and felt disingenuous. That’s when I decided to try Craigslist, which lets you search for used cars and trucks for sale in your city. After sifting through a few listings on the site, I was drawn to one RAV4 in particular and emailed the seller asking if it was still for sale. He confirmed it was so I called him up for more information. It was also cheaper than most of the listings I’d seen at dealerships. That lined up with what Matt Jones, the senior manager of insights at Edmunds, told me: “Private party tends to cost less than buying from a dealership.” That’s because dealerships have certain rules and standards they have to adhere to when selling used cars — the brakes have to work, for example — and you pay a premium for that. “You have no recourse if you buy a car from a person,” he said. “If you buy a car from a dealership, you have a little bit of recourse. The downside is, it will cost you more.” Buying from a private seller would mean more work on my end in terms of making sure I was buying a car with solid bones, but it seemed well worth it.

3. I asked for the VIN and other key information

With such a major purchase, I didn’t want to just communicate via email. Talking to the seller on the phone, and hearing about the vehicle history and why he was selling the car, gave me confidence that it was a legitimate listing and priced fairly. As it turns out, we even had a mutual connection.

Talking to the seller on the phone, and hearing about the vehicle history and why he was selling the car, gave me confidence that it was a legit listing and priced fairly.

From our conversation, it sounded like a well-maintained car, but he also sent me the VIN (vehicle identification number) so I could do my own due diligence. The VIN is a 17-digit number that’s assigned to every car in the U.S. and allows you to pull a Carfax vehicle history report. The report checks for things like accident history, service and repair history, estimated miles driven per year and recall information. It’s a good way of confirming that what the seller is telling you about the car is true. I ran the report for $43.54, which the seller offered to reimburse if I ended up buying the car, and it lined up with everything that he told me about it. I also asked if he had the title and maintenance records. He had both.

4. I test drove the car

Since the seller had the proper documentation and the car, a 2007 model with about 108,000 miles on it, was well within my budget, I expressed interest and asked to test drive it.

We met in a public place — the parking lot of a supermarket — in broad daylight. I also brought my mom along. I inspected the interior and exterior of the vehicle, asked about the features, reviewed the maintenance records and took it out for a spin. I had zero complaints and told him I’d take it.

5. I bought car insurance

To register the car in my name, I would need proof of insurance. I got a few quotes from different providers and settled on one that met my needs for about $60 a month. The process took no longer than an hour.

6. I transferred the title and registered the car

The day after the test drive, I met the seller at the bank and wrote him a check for $7,849, the cost of the car. He wasn’t open to negotiating the price — he used Kelley Blue Book and CarGurus to price it fairly, which I double-checked — but did reimburse me for the Carfax and threw in some nice add-ons, like floor mats, a car charger and a tire inflator. We both signed the title, making me the official owner, and he handed over the keys. Next, I headed to the DMV to change the registration to my name and get new plates. To do so, I needed proof of insurance, my drivers license and $5 in cash for the notary fee. In total, I owed $317.89 at the DMV. Here’s the breakdown of the fees: Registration fee : $36

: $36 Certificate of Title : $52

: $52 Highway-use tax (HUT) : $142.50

: $142.50 Property tax : $67.39

: $67.39 Vehicle fee: $20 The final step was for the seller to remove his plates and for me to install mine. Here’s one last pro tip: Bring a screwdriver. Don’t miss: 3 important questions to ask before buying a used car Like this story? Subscribe to CNBC Make It on YouTube!


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: kathleen elkins
Keywords: news, cnbc, companies, buy, car, process, used, asked, vehicle, cars, bought, history, dealerships, buying, steps, craigslistheres, exactly, seller


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Investors are rushing into bonds, like they’re the new ‘Beyond Meat’

Investors are jumping into bonds like they’re a hot new commodity or even stock, but strategists warn the prices are getting rich as the yields shrink in the Treasury market. That apparently isn’t fazing some investors who are subscribing to the new view that bonds are investments that can only rise in value — like stocks. JJ Kinahan, TD Ameritrade chief strategist, said clients of his firm have been selling stocks and buying bonds for the past two months. “People are talking about bonds and bon


Investors are jumping into bonds like they’re a hot new commodity or even stock, but strategists warn the prices are getting rich as the yields shrink in the Treasury market. That apparently isn’t fazing some investors who are subscribing to the new view that bonds are investments that can only rise in value — like stocks. JJ Kinahan, TD Ameritrade chief strategist, said clients of his firm have been selling stocks and buying bonds for the past two months. “People are talking about bonds and bon
Investors are rushing into bonds, like they’re the new ‘Beyond Meat’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: patti domm
Keywords: news, cnbc, companies, theyre, bonds, meat, yields, buying, treasury, bond, fed, rushing, 10year, stocks, investors, yield


Investors are rushing into bonds, like they're the new 'Beyond Meat'

Investors are jumping into bonds like they’re a hot new commodity or even stock, but strategists warn the prices are getting rich as the yields shrink in the Treasury market.

That apparently isn’t fazing some investors who are subscribing to the new view that bonds are investments that can only rise in value — like stocks.

JJ Kinahan, TD Ameritrade chief strategist, said clients of his firm have been selling stocks and buying bonds for the past two months.

“People are talking about bonds and bond yields like they were talking about Beyond Meat a month ago. You’re talking about bonds trading like high-flying stocks, ” he said.

Beyond Meat went public in May at $25, before peaking at $234.90 on July 26. On Monday, it was up 2.9% at $169.11 per share.

Kinahan said investors are looking at bonds as appreciating assets, at least until the next Fed meeting in September when the Fed is expected to cut rates

Investors bought bonds Monday, as they sold stocks, with the S&P 500 ending off 1.2%. Bond yields fell as investors piled into bonds. The iShares 20+ Year Treasury Bond ETF, TLT jumped 2.1% Monday, its biggest gain in a year, as investors bet that prices of long dated Treasurys would continue to rise.

“They’re holding their nose and buying,” said Jack Ablin, chief investment officer at Cresset Wealth Advisors. He said some investors are buying out of fear, and they are worried that Fed will not be able to rescue the economy from falling into a recession. “The effectiveness of Fed stimulus has been diluted. There may be a growing argument that we’re driving around without a spare tire. That’s the new fear.”

Bond prices move opposite yield, and in the Treasury market, the 10-year yield was at 1.64% on Monday, while the 30-year bond was yielding 2.13% in late trading. Before the July Fed meeting less than two weeks ago, the 10-year was yielding 2.07%. Strategists say investors are fearful that the trade war will stall out the economy, and recently they have become worried that protests in Hong Kong could lead to a crackdown by China.

Strategists also were watching the widely-followed spread between the 10-year note yield and the 2-year yield, which was growing closer together. The so called yield curve between the two is flattening dramatically, and they were just about 6 basis points apart Monday. An inverted curve, when the 10-year falls below the 2-year yield, would be a recession warning if it remained there for a while.

“What you’re continuing to see from the retail end is it’s still short-term buying on bonds, which is basically bullish on stocks. It says people who want to put their money back to work don’t know when they’re going to put their money back to work,” said Kinahan. He said investors are waiting for an end to the trade war for a new entry point into equities.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: patti domm
Keywords: news, cnbc, companies, theyre, bonds, meat, yields, buying, treasury, bond, fed, rushing, 10year, stocks, investors, yield


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Trump says US government won’t do business with Huawei, not ready to make a trade deal with China

President Donald Trump said Friday that the U.S. government will no longer have any dealings with Chinese telecom giant Huawei as the trade war continues to escalate. … That doesn’t mean we won’t agree to something if and when we make a trade deal,” Trump said. Trump’s decision on Huawei came after China halted buying American agricultural products in retaliation for Trump’s surprise tariffs threat last week. The threat sent shock waves through the markets, causing the S&P 500 to suffer its wo


President Donald Trump said Friday that the U.S. government will no longer have any dealings with Chinese telecom giant Huawei as the trade war continues to escalate. … That doesn’t mean we won’t agree to something if and when we make a trade deal,” Trump said. Trump’s decision on Huawei came after China halted buying American agricultural products in retaliation for Trump’s surprise tariffs threat last week. The threat sent shock waves through the markets, causing the S&P 500 to suffer its wo
Trump says US government won’t do business with Huawei, not ready to make a trade deal with China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: yun li
Keywords: news, cnbc, companies, trump, ready, chinese, trade, week, wont, business, china, war, deal, huawei, buying


Trump says US government won't do business with Huawei, not ready to make a trade deal with China

President Donald Trump said Friday that the U.S. government will no longer have any dealings with Chinese telecom giant Huawei as the trade war continues to escalate.

“We are not going to do business with Huawei. … And I really made the decision. It’s much simpler not doing any business with Huawei. … That doesn’t mean we won’t agree to something if and when we make a trade deal,” Trump said.

“We are talking to China; we are not ready to make a deal, but we’ll see what happens … China wants to do something, but I’m not doing anything yet. Twenty-five years of abuse. I’m not ready so fast,” Trump said.

However, the Commerce Department told CNBC it is still processing special licenses for companies to restart sales to Huawei, and Trump’s comment refers to only the ban on the U.S. government buying from Huawei.

Trump’s decision on Huawei came after China halted buying American agricultural products in retaliation for Trump’s surprise tariffs threat last week. China also allowed its currency to drop against the dollar to a key level unseen since 2008.

Chip stocks took a big hit initially but rebounded after the clarification. Advanced Micro Devices is now up 2% after losing as much as 2%. Micron Technology and Skyworks Solutions pared losses to trade about 2% lower. Huawei has been a big customer of these chipmakers.

The administration blacklisted Huawei in May over national security concerns, preventing it from buying U.S. chips. But Trump last month agreed to give “timely licensing decisions” to allow a slew of tech companies including Google and Broadcom to sell to the Chinese telecom giant.

Trump last week abruptly ended the cease-fire with China by announcing 10% tariffs on $300 billion worth of Chinese goods, claiming China failed to buy U.S. farm goods in “large quantities” as it promised. The threat sent shock waves through the markets, causing the S&P 500 to suffer its worst day of the year on Monday as the trade war intensified.

— CNBC’s Ylan Mui contributed reporting.

WATCH: Trump says not ready to make a deal with China


Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: yun li
Keywords: news, cnbc, companies, trump, ready, chinese, trade, week, wont, business, china, war, deal, huawei, buying


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Investors are buying up these ‘tariff-proof’ tech stocks to keep exposure to the sector

Enterprise software is emerging as an exception to some investors’ caution around the technology sector. “Software names are not exactly recession proof, but they’re more resilient to downturn.” The S&P 500 Technology sector — which doesn’t include Amazon, Google or Facebook — is the most international of any S&P sector when it comes to revenues, according DataTrek Research. The U.S.-China trade battle has been a jolt to the sector, “with a new level of uncertainty representing a dark cloud over


Enterprise software is emerging as an exception to some investors’ caution around the technology sector. “Software names are not exactly recession proof, but they’re more resilient to downturn.” The S&P 500 Technology sector — which doesn’t include Amazon, Google or Facebook — is the most international of any S&P sector when it comes to revenues, according DataTrek Research. The U.S.-China trade battle has been a jolt to the sector, “with a new level of uncertainty representing a dark cloud over
Investors are buying up these ‘tariff-proof’ tech stocks to keep exposure to the sector Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: kate rooney
Keywords: news, cnbc, companies, names, stocks, technology, trade, sp, exposure, investors, microsoft, sector, ives, software, buying, tariffproof, newton, tech


Investors are buying up these 'tariff-proof' tech stocks to keep exposure to the sector

Enterprise software is emerging as an exception to some investors’ caution around the technology sector.

Wall Street analysts and investors including Carl Icahn are turning to software companies, which don’t rely as much on supply chains and manufacturing, as the trade war and strong dollar threaten the rest of the high-flying sector.

Although names like Microsoft, Salesforce and Twilio are not entirely “tariff-proof,” they may hold up better than some consumer technology names that manufacture products in China, according to Rishi Jaluria, senior research analyst at D.A. Davidson.

“They’re a safe haven right now,” Jaluria told CNBC. “Software names are not exactly recession proof, but they’re more resilient to downturn.”

One ominous factor is a strong dollar. The S&P 500 Technology sector — which doesn’t include Amazon, Google or Facebook — is the most international of any S&P sector when it comes to revenues, according DataTrek Research. Fifty-eight percent of sales come from outside the U.S., compared with 39% for the S&P 500 overall. Materials is the only other sector that gets more than half of its revenue outside of the U.S.

“That means global slowing hurts the sector more than the average S&P company,” said Nick Cola, co-founder of DataTrek.

Equity markets saw a sharp pullback this week after more tariff escalation, a fall in the Chinese yuan against the dollar and tumbling bond yields that fueled global growth concerns. Tech shares led a rebound on Thursday, with the sector rising more than 1%.

Still, Mark Newton, president and founder of Newton Advisors, is bearish on tech and said it could see more of a pullback throughout the rest of August. He’s recommending that clients take some profits and diversify out of popular technology stocks, which have led a record bull run since the financial crisis.

“Enterprise software is the standout that’s still resilient,” Newton said.

Wedbush Securities managing director Dan Ives is also cautious on tech. The U.S.-China trade battle has been a jolt to the sector, “with a new level of uncertainty representing a dark cloud over the sector,” Ives said. And if the trade situation escalates, Ives is anticipating major impacts on supply chains that could hit semiconductor companies, and Apple.

“We believe on large cap Microsoft is a compelling name to own with negligible China exposure and overall the software sector we would be buying here as it is primarily immune from the trade war,” Ives said.

The S&P technology sector is down 1.7% for the month, compared with a 1.4% drop in the broader S&P index. Microsoft is up about 1.4% in that time frame.


Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: kate rooney
Keywords: news, cnbc, companies, names, stocks, technology, trade, sp, exposure, investors, microsoft, sector, ives, software, buying, tariffproof, newton, tech


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Uber CEO reveals it considered buying food delivery app Caviar before rival DoorDash did

Uber CEO Dara Khosrowshahi told CNBC on Friday that the ride-hailing, freight and delivery giant considered a deal with on-demand food delivery service Caviar but decided to pass. Khosrowshahi said Uber’s food delivery service, Uber Eats, will focus on organic growth rather than acquisitions. On Aug 1, Square announced an agreement to sell Caviar to Uber Eats’ formidable rival DoorDash for $410 million. While declining to comment further on Caviar, Khosrowshahi did say that he sees food delivery


Uber CEO Dara Khosrowshahi told CNBC on Friday that the ride-hailing, freight and delivery giant considered a deal with on-demand food delivery service Caviar but decided to pass. Khosrowshahi said Uber’s food delivery service, Uber Eats, will focus on organic growth rather than acquisitions. On Aug 1, Square announced an agreement to sell Caviar to Uber Eats’ formidable rival DoorDash for $410 million. While declining to comment further on Caviar, Khosrowshahi did say that he sees food delivery
Uber CEO reveals it considered buying food delivery app Caviar before rival DoorDash did Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: jessica bursztynsky, jesse pound
Keywords: news, cnbc, companies, food, street, khosrowshahi, considered, eats, ceo, buying, rival, service, uber, square, doordash, delivery, caviar, reveals, secondquarter


Uber CEO reveals it considered buying food delivery app Caviar before rival DoorDash did

Uber CEO Dara Khosrowshahi told CNBC on Friday that the ride-hailing, freight and delivery giant considered a deal with on-demand food delivery service Caviar but decided to pass.

“We took a look at Caviar. It’s a great brand,” Khosrowshahi said in a “Squawk on the Street ” interview, as Uber shares were sinking after disappointing second-quarter results. “It wasn’t the right deal for us.”

Khosrowshahi said Uber’s food delivery service, Uber Eats, will focus on organic growth rather than acquisitions.

On Aug 1, Square announced an agreement to sell Caviar to Uber Eats’ formidable rival DoorDash for $410 million. Square had bought Caviar for just over $44 million in 2014. The Caviar service specializes in premium restaurants.

While declining to comment further on Caviar, Khosrowshahi did say that he sees food delivery as a real battle this year and next. “The Eats market continues to be very competitive.”

Khosrowshahi said that if Uber were to seek any acquisitions, he’s not worried. “We’re Uber, everyone wants to talk to us.”

After the Wall Street close Thursday, Uber posted a much wider-than-expected second-quarter loss of $4.72 per share. Revenue of $3.17 billion was also missed analyst estimates.

Uber’s core ride-hailing business saw better-than-expected gross bookings for the quarter, while the newer Uber Eats unit’s gross bookings fell short of forecasts.

“So with rides, I say the competitive environment is stable and getting better,” Khosrowshahi said during Friday’s CNBC interview. “We see a lot of competition with Eats,” he reiterated.


Company: cnbc, Activity: cnbc, Date: 2019-08-09  Authors: jessica bursztynsky, jesse pound
Keywords: news, cnbc, companies, food, street, khosrowshahi, considered, eats, ceo, buying, rival, service, uber, square, doordash, delivery, caviar, reveals, secondquarter


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This rebound is a ‘bump in the road on the way down,’ says strategist predicting ‘Lehman-like’ drop

Traders work on the floor of the New York Stock Exchange (NYSE) on August 05, 2019 in New York City. The rebound, supported by dip buying and technical positioning by speculative traders, is bound to be a short-lived one as market sentiment continues to deteriorate, according to Nomura macro and quant strategist Masanari Takada. He garnered much attention this week for his call for a “Lehman-like” sell-off as soon as late August. “We see the rebound in US stocks as a mere technical rally that lo


Traders work on the floor of the New York Stock Exchange (NYSE) on August 05, 2019 in New York City. The rebound, supported by dip buying and technical positioning by speculative traders, is bound to be a short-lived one as market sentiment continues to deteriorate, according to Nomura macro and quant strategist Masanari Takada. He garnered much attention this week for his call for a “Lehman-like” sell-off as soon as late August. “We see the rebound in US stocks as a mere technical rally that lo
This rebound is a ‘bump in the road on the way down,’ says strategist predicting ‘Lehman-like’ drop Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: yun li
Keywords: news, cnbc, companies, investors, york, nomura, technical, market, takada, way, road, strategist, predicting, drop, buying, bump, lehmanlike, rebound, traders, 2019


This rebound is a 'bump in the road on the way down,' says strategist predicting 'Lehman-like' drop

Traders work on the floor of the New York Stock Exchange (NYSE) on August 05, 2019 in New York City. T

The S&P 500 pulled off its most dramatic intraday turnaround this year on Tuesday, extending the rebound from its worst day of 2019, but investors shouldn’t be too optimistic about the comeback, Nomura warns.

The rebound, supported by dip buying and technical positioning by speculative traders, is bound to be a short-lived one as market sentiment continues to deteriorate, according to Nomura macro and quant strategist Masanari Takada. He garnered much attention this week for his call for a “Lehman-like” sell-off as soon as late August.

“We see the rebound in US stocks as a mere technical rally that looks like no more than a bump in the road on the way down,” Takada said in a note on Thursday. “We think the market is likely to resist further downside thanks to a combination of bargain hunting by fundamentals-oriented investors and contrarian buying by ultra-short-term traders through perhaps 15 August.”


Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: yun li
Keywords: news, cnbc, companies, investors, york, nomura, technical, market, takada, way, road, strategist, predicting, drop, buying, bump, lehmanlike, rebound, traders, 2019


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