Huawei delays foldable phone launch until September to do extra tests after Samsung’s troubles

Huawei said its foldable phone will launch in September, slightly later than it was reportedly set to, as it does extra tests following the debacle Samsung went through with its rival device. The Mate X, which starts at around 2,299 euros or roughly $2,600, is a 5G-capable device. The Mate X was unveiled in February but has yet to go on sale. Huawei had initially targeted a mid-2019 launch date and in April, Chinese media reported that it was looking at June. Huawei’s spokesperson said the compa


Huawei said its foldable phone will launch in September, slightly later than it was reportedly set to, as it does extra tests following the debacle Samsung went through with its rival device. The Mate X, which starts at around 2,299 euros or roughly $2,600, is a 5G-capable device. The Mate X was unveiled in February but has yet to go on sale. Huawei had initially targeted a mid-2019 launch date and in April, Chinese media reported that it was looking at June. Huawei’s spokesperson said the compa
Huawei delays foldable phone launch until September to do extra tests after Samsung’s troubles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: arjun kharpal
Keywords: news, cnbc, companies, samsung, foldable, launch, extra, galaxy, samsungs, troubles, mate, mobile, tests, huawei, company, phone, delays, spokesperson


Huawei delays foldable phone launch until September to do extra tests after Samsung's troubles

Huawei said its foldable phone will launch in September, slightly later than it was reportedly set to, as it does extra tests following the debacle Samsung went through with its rival device.

A spokesperson for the Chinese technology giant told CNBC on Friday that the company is trying to launch the Huawei Mate X globally, focusing on markets that are rolling out next-generation mobile networks known as 5G. The Mate X, which starts at around 2,299 euros or roughly $2,600, is a 5G-capable device.

The Mate X was unveiled in February but has yet to go on sale. Huawei had initially targeted a mid-2019 launch date and in April, Chinese media reported that it was looking at June. But the spokesperson confirmed the official launch will take place in September. He said that the company was doing extra testing with mobile carriers around the world and developers to make sure their apps work when the device is fully unfolded.

Huawei’s spokesperson said the company was more “cautious” after Samsung’s foldable device, the Galaxy Fold, began to break when tested by reviewers in April. Samsung and some of the carriers selling the Galaxy Fold have canceled pre-orders that consumers had already placed.


Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: arjun kharpal
Keywords: news, cnbc, companies, samsung, foldable, launch, extra, galaxy, samsungs, troubles, mate, mobile, tests, huawei, company, phone, delays, spokesperson


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Joe Biden’s Twitter fight with Amazon perfectly sums up the battle over America’s new tax code

WASHINGTON – Amazon and Joe Biden are in a Twitter spat, and it perfectly captures the controversy over America’s new tax code. “I have nothing against Amazon, but no company pulling in billions of dollars of profits should pay a lower tax rate than firefighters and teachers,” Biden wrote Thursday morning. Congress designed tax laws to encourage companies to reinvest in the American economy,” the company wrote on its Amazon News Twitter account. Assume VP Biden’s complaint is w/ the tax code, no


WASHINGTON – Amazon and Joe Biden are in a Twitter spat, and it perfectly captures the controversy over America’s new tax code. “I have nothing against Amazon, but no company pulling in billions of dollars of profits should pay a lower tax rate than firefighters and teachers,” Biden wrote Thursday morning. Congress designed tax laws to encourage companies to reinvest in the American economy,” the company wrote on its Amazon News Twitter account. Assume VP Biden’s complaint is w/ the tax code, no
Joe Biden’s Twitter fight with Amazon perfectly sums up the battle over America’s new tax code Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: ylan mui
Keywords: news, cnbc, companies, twitter, perfectly, amazon, paid, americas, company, sums, pay, wrote, taxes, rate, battle, tax, profits, bidens, code, joe, fight


Joe Biden's Twitter fight with Amazon perfectly sums up the battle over America's new tax code

WASHINGTON – Amazon and Joe Biden are in a Twitter spat, and it perfectly captures the controversy over America’s new tax code.

The beef began when the frontrunner for the Democratic presidential nomination called out the online giant on Twitter.

“I have nothing against Amazon, but no company pulling in billions of dollars of profits should pay a lower tax rate than firefighters and teachers,” Biden wrote Thursday morning. “We need to reward work, not just wealth.”

Amazon fired back at the end of the day, redirecting the candidate’s aim.

“We’ve paid $2.6B in corporate taxes since 2016. We pay every penny we owe. Congress designed tax laws to encourage companies to reinvest in the American economy,” the company wrote on its Amazon News Twitter account. “We have. $200B in investments since 2011 & 300K US jobs. Assume VP Biden’s complaint is w/ the tax code, not Amazon.”

Biden’s tweet linked to a New York Times story that cited data from the left-leaning Institute on Taxation and Economic Policy on companies that earned billions of dollars last year but paid no federal taxes. The analysis showed that Amazon topped the list, with pretax profits of nearly $11 billion. In fact, the group found the company actually enjoyed a negative tax rate of 1.2 percent, thanks to a $129 million income tax rebate.


Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: ylan mui
Keywords: news, cnbc, companies, twitter, perfectly, amazon, paid, americas, company, sums, pay, wrote, taxes, rate, battle, tax, profits, bidens, code, joe, fight


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Cramer: Trump views Huawei as China’s ‘Achilles’ heel,’ and Broadcom found that out the hard way

Trump feels he has to “sacrifice Broadcom on the alter of Huawei” to humble China in trade negotiations, Cramer argued. Last year, Broadcom received about $900 million in revenue from China-based Huawei, a major maker of smartphones and mobile networking gear. “The president regards Huawei as the Achilles’ heel” of Chinese leader Xi Jinping. “What a kiss of death, if you’re a great friend with the president,” Cramer said on “Squawk on the Street. ” A spokesperson for the White House was not imme


Trump feels he has to “sacrifice Broadcom on the alter of Huawei” to humble China in trade negotiations, Cramer argued. Last year, Broadcom received about $900 million in revenue from China-based Huawei, a major maker of smartphones and mobile networking gear. “The president regards Huawei as the Achilles’ heel” of Chinese leader Xi Jinping. “What a kiss of death, if you’re a great friend with the president,” Cramer said on “Squawk on the Street. ” A spokesperson for the White House was not imme
Cramer: Trump views Huawei as China’s ‘Achilles’ heel,’ and Broadcom found that out the hard way Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, huawei, views, white, achilles, trump, cramer, chinas, hard, company, revenue, tan, broadcom, way, president, house, heel


Cramer: Trump views Huawei as China's 'Achilles' heel,' and Broadcom found that out the hard way

Broadcom CEO Hock Tan is paying the price for misjudging President Donald Trump’s resolve to “bring the Chinese to their knees,” CNBC’s Jim Cramer said Friday.

Trump feels he has to “sacrifice Broadcom on the alter of Huawei” to humble China in trade negotiations, Cramer argued. Last year, Broadcom received about $900 million in revenue from China-based Huawei, a major maker of smartphones and mobile networking gear.

“The president regards Huawei as the Achilles’ heel” of Chinese leader Xi Jinping. The calculation in effectively blacklisting Huawei from doing business with American companies is that China would never let one of its crown jewels of technology fail, the “Mad Money” host speculated.

Tan may be feeling hard done by Trump, said Cramer, pointing out that the Broadcom CEO in 2017 went to the White House, and joined the president, to announce he was relocating the Singapore-based company back to the United States.

In another knock, the Trump administration last year blocked Broadcom’s $117 billion bid to buy San Diego-based Qualcomm on national security grounds.

“What a kiss of death, if you’re a great friend with the president,” Cramer said on “Squawk on the Street. ”

“Broadcom is a remarkably good company and it’s going to be hurt” in the crossfire between the world’s two biggest economic superpowers, he explained.

Shares of Broadcom fell sharply at Friday’s open on Wall Street, after the semiconductor maker reported late Thursday weaker-than-expected quarterly revenue. It also announced a 2019 revenue forecast cut, predicting a slowdown in demand stemming from the conflicts between Washington and Beijing. This is being “driven by continued geopolitical uncertainties,” Tan said in a statement.

The company is also seeing the “effects of export restrictions on one of our largest customers,” Tan added, in a reference to the Trump administration last month barring Huawei, without special permission, from buying equipment from U.S. companies. However, the Commerce Department did put a 90-day hold on the move.

The White House has accused Huawei of being too closely tied to China’s communist government and expressed concern about Huawei technology being used for spying against the U.S. For its part, Huawei has repeatedly asserted that it is independent from the Chinese government.

A spokesperson for the White House was not immediately available to respond to CNBC’s request for comment on Cramer’s remarks.


Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, huawei, views, white, achilles, trump, cramer, chinas, hard, company, revenue, tan, broadcom, way, president, house, heel


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House panel demands internal documents from Juul in teen vaping probe

The investigation comes as Juul faces increased scrutiny for its alleged role in the rise of nicotine use among minors. Krishnamoorthi is pointing the blame at Juul for the rise in underage vaping, writing that the company demands 75% of the e-cigarette market in the United States. “We share the subcommittee’s concerns about youth vaping and welcome the opportunity to share information about our aggressive, industry leading actions to combat youth usage,” the spokesperson said in a statement. In


The investigation comes as Juul faces increased scrutiny for its alleged role in the rise of nicotine use among minors. Krishnamoorthi is pointing the blame at Juul for the rise in underage vaping, writing that the company demands 75% of the e-cigarette market in the United States. “We share the subcommittee’s concerns about youth vaping and welcome the opportunity to share information about our aggressive, industry leading actions to combat youth usage,” the spokesperson said in a statement. In
House panel demands internal documents from Juul in teen vaping probe Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: ashley turner
Keywords: news, cnbc, companies, company, teen, targeted, demands, internal, house, panel, juuls, letter, ecigarette, investigation, documents, marketing, juul, vaping, probe, youth


House panel demands internal documents from Juul in teen vaping probe

A person smokes a Juul Labs Inc. e-cigarette in this arranged photograph taken in the Brooklyn Borough of New York, U.S.

House Democrats are pressing e-cigarette leader Juul for a slew of internal documents examining the company’s marketing strategies as part of a broad investigation into the teen vaping epidemic.

Rep. Raja Krishnamoorthi, D-Ill., chairman of the House Oversight Subcommittee on Economic and Consumer Policy, sent a letter to Juul CEO Kevin Burns on Friday, requesting documents related to Juul’s marketing strategies to minors, social media practices, research on Juul’s impact on health and the company’s deal with tobacco giant Altria.

The investigation comes as Juul faces increased scrutiny for its alleged role in the rise of nicotine use among minors.

Many lawmakers and public health officials say the company’s marketing practices targeted teens through social media and influencers who are paid to promote products on Twitter, Instagram and Facebook. Critics also say Juul’s fruity pod flavors, which are now only sold online, targeted teens.

“The safety and well-being of America’s youth is not for sale,” Krishnamoorthi wrote in the letter. “I am extremely concerned about reports that Juul’s high nicotine content is fueling addiction and that frequent Juul use is sending kids across the country into rehab, some as young as 15.”

The Centers for Disease Control and Prevention found that tobacco use in high school students rose nearly 40% in the past year, according to the letter. The letter also said e-cigarette use among high school and middle school students across the nation skyrocketed by 78% and 48%, respectively, from 2017 to 2018.

Krishnamoorthi is pointing the blame at Juul for the rise in underage vaping, writing that the company demands 75% of the e-cigarette market in the United States.

In a statement to CNBC, a Juul spokesperson said the company looks forward to “a productive dialogue as we continue to combat youth usage and help adult smokers switch from combustible cigarettes, which remain the leading cause of preventable death around the world.”

“We share the subcommittee’s concerns about youth vaping and welcome the opportunity to share information about our aggressive, industry leading actions to combat youth usage,” the spokesperson said in a statement. The spokesperson added the company has stopped the sale of non-tobacco and non-menthol flavors to their retail partners, enhanced its online age verification system and “strongly” supported legislation that proposes raising the tobacco age to 21 years old.

The company has also shut down its Facebook and Instagram accounts, which some lawmakers said targeted younger consumers.

The House investigation is just the latest probe into the company. In April, nearly a dozen Democratic senators opened an investigation into Juul’s marketing strategies and its deal with Marlboro maker Altria.

Altria in December took a 35% stake in Juul as the Marlboro-cigarette maker looks to take “significant action” to prepare for when more adult smokers begin to transition from cigarettes to vaping. Juul said its deal with Altria is a way for it to reach more adult smokers, its targeted audience.

Altria deferred comment on the House probe to Juul.

Attorneys general in some states have also focused on Juul’s business practices. In May, North Carolina Attorney General Josh Stein sued the company for allegedly targeting young consumers and misrepresenting the potency and danger of nicotine in its products.

Massachusetts Attorney General Maura Healey last year also announced she was launching an investigation into the company for failing to stop minors from buying its products. Healey is investigating how many minors use Juul e-cigarettes and how the company manages its age-verification system.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: ashley turner
Keywords: news, cnbc, companies, company, teen, targeted, demands, internal, house, panel, juuls, letter, ecigarette, investigation, documents, marketing, juul, vaping, probe, youth


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How this Indian hotel chain plans to conquer the China market

Giulia Marchi | Bloomberg | Getty ImagesFor many foreign firms, China’s market is a notoriously tough nut to crack. Since OYO Rooms ventured into the Chinese market in November 2017, it has expanded at a breakneck pace. “We’re opening roughly 10 to 12 buildings a day in China,” Agarwal announced at the inaugural Skift Forum Asia. When OYO entered the Chinese market, the company viewed itself as local Chinese entrepreneurs “who were copying OYO Global,” he explained. “In short, OYO copied what OY


Giulia Marchi | Bloomberg | Getty ImagesFor many foreign firms, China’s market is a notoriously tough nut to crack. Since OYO Rooms ventured into the Chinese market in November 2017, it has expanded at a breakneck pace. “We’re opening roughly 10 to 12 buildings a day in China,” Agarwal announced at the inaugural Skift Forum Asia. When OYO entered the Chinese market, the company viewed itself as local Chinese entrepreneurs “who were copying OYO Global,” he explained. “In short, OYO copied what OY
How this Indian hotel chain plans to conquer the China market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: shirley tay
Keywords: news, cnbc, companies, chinese, company, chinas, indian, plans, china, oyo, market, local, conquer, hotel, chain, agarwal, shih


How this Indian hotel chain plans to conquer the China market

A Chinese national flag flies in front of a building under construction in the central business district of Beijing, China. Giulia Marchi | Bloomberg | Getty Images

For many foreign firms, China’s market is a notoriously tough nut to crack. Tech giants such as Amazon, eBay and Uber — which have a significant market presence in the United States — all called it quits on China after finding themselves unable to survive the cutthroat competition with local firms there. But Indian budget hotel chain, On Your Own Rooms, managed to be the exception to the rule. The Softbank-backed hotel start-up was founded in India in 2013, and has since grown to become one of South Asia’s largest hotel and accommodation chains. Since OYO Rooms ventured into the Chinese market in November 2017, it has expanded at a breakneck pace. OYO Jiudian — its Chinese subsidiary — currently has nearly 10,000 hotels and 450,000 rooms across 320 cities under its name.

Why design a global company that will never be successful, versus a local entrepreneur? … That mindset enabled us to think two levels ahead of anybody else. Ritesh Agarwal chief executive officer of OYO Rooms

“In a brief period, we have emerged as the country’s second-largest hotel group and company,” Sam Shih, the chief operating officer of OYO Jiudian, told CNBC. China is the company’s biggest market today, OYO’s Chief Executive Officer Ritesh Agarwal said at a travel conference in Singapore in late May. “We’re opening roughly 10 to 12 buildings a day in China,” Agarwal announced at the inaugural Skift Forum Asia. He outlined two key traits of his business that allowed the company to reach the success it has in China’s market: strategic partnerships and a local entrepreneurial mindset.

Strong partnership

Agarwal said at the conference that the company has signed a “very strong, strategic partnership” with Ctrip, China’s largest online travel aggregator (OTA). “OYO Hotels used to distribute on Ctrip, but we had a very local traveler partnership — it was never really at a brand level,” Agarwal said. OYO’s “great working relationships” with prominent travel aggregators like Ctrip opens up new opportunities for the hotel chain and strengthens its reach to local communities, Shih told CNBC.

The OYO Dongxing Wenquan Hotel in Zhengzhou, China. OYO China

That partnership will help its Chinese subsidiary reach its goal of giving China’s middle-income population — estimated by the government to be about 400 million, or less than a third of the population — a “great living space” for less than 150 Chinese yuan ($21.71) per night, Shih added. “We’re excited by the possibilities of these mutually beneficial relationships,” he said.

Entrepreneurial mindset

OYO Jiudian’s success also stems from how it’s positioned itself in the world’s second-largest economy, Agarwal said. When OYO entered the Chinese market, the company viewed itself as local Chinese entrepreneurs “who were copying OYO Global,” he explained. “Why design a global company that will never be successful, versus a local entrepreneur? … That mindset enabled us to think two levels ahead of anybody else,” Agarwal said. With that in mind, the hotel chain “nativized” its offerings from the “point of view of a traveler in the country and what was lacking from his/her experience earlier when OYO was not around,” COO Shih said. “For instance, most foreign companies look at recruiting bilingual management teams in a different country,” he explained. “We didn’t make that a criterion because a Chinese company operating in the country wouldn’t have that constraint — and if we had that constraint, we would narrow our talent pool.” This helped the company to build a strong team of over 7,000 “OYOpreneurs” in China, with less than 20 of them English-speaking, he added. “In short, OYO copied what OYO itself has been executing since its inception in India to gain this momentum in China,” Shih said.

Big bets on China


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: shirley tay
Keywords: news, cnbc, companies, chinese, company, chinas, indian, plans, china, oyo, market, local, conquer, hotel, chain, agarwal, shih


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Here’s how to pay less to your credit card company

If you want to try paying less to your credit card company, go old school and make a phone call. A customer signs for a purchase with a chip credit card at a Wal-Mart location in Burbank, California. In April, the nation’s collective credit card tab reached more than $1 trillion, according to the Federal Reserve. Since 2016, the Federal Reserve has made eight increases to a key interest rate that affects consumer debt. “Otherwise, you could end up paying more to your credit card company than you


If you want to try paying less to your credit card company, go old school and make a phone call. A customer signs for a purchase with a chip credit card at a Wal-Mart location in Burbank, California. In April, the nation’s collective credit card tab reached more than $1 trillion, according to the Federal Reserve. Since 2016, the Federal Reserve has made eight increases to a key interest rate that affects consumer debt. “Otherwise, you could end up paying more to your credit card company than you
Here’s how to pay less to your credit card company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: sarah obrien
Keywords: news, cnbc, companies, company, rate, schulz, pay, fee, ask, try, survey, card, heres, credit, interest


Here's how to pay less to your credit card company

If you want to try paying less to your credit card company, go old school and make a phone call. While most cardholders have not requested a break on either interest rates or fees recently, the majority of those who did ask were successful, a recent survey shows. In a recent one-year period — a time when interest rates were rising — 81% of cardholders who asked for a lower rate got it, and most got a reduction of between 5 and 6 percentage points, according to research from CompareCards.com.

A customer signs for a purchase with a chip credit card at a Wal-Mart location in Burbank, California. Patrick T. Fallon | Bloomberg | Getty Images

For late-payment fees, 87% were successful getting them eliminated, and 67% got their annual fee waived (24% were given a reduced annual fee). “I was surprised that the chances of success are sky-high for every break we asked people about,” said Matt Schulz, chief industry analyst at CompareCards.com, which polled more than 1,000 people for its survey in March. The report also shows that although women were less likely to ask for a break, they had the same success rate as men when they did ask for one. However, about three-quarters of all respondents have not asked for any sort of reduced rate or waived fee, even as the amount of debt they carry — and the cost to finance it — has continued to climb.

In April, the nation’s collective credit card tab reached more than $1 trillion, according to the Federal Reserve. The average interest rate is about 16.9%, according to CompareCards. For store credit cards, the average is just under 25%. Since 2016, the Federal Reserve has made eight increases to a key interest rate that affects consumer debt. Many economists now expect a small rate cut to be the Fed’s next move at some point this year unless economic indicators change. However, Schulz said not to wait for rates to move down to try getting your rate down. “You have a lot more power than you realize, regardless of what the Fed does,” he said. In the CompareCards study, the average rate reduction that survey participants were able to snag was 6 percentage points. The median — half fell above, half below — was about 5 percentage points. More from Personal Finance:

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If you want that job, avoid these five thank-you note don’ts Say you have a balance of $5,000 on a card that charges you 24% in interest and you pay $250 a month. It would take 26 months to pay off that amount and you’d pay about $1,450 in interest. If you could get that rate to 18%, you’d save more than $450 in interest and pay it off two months earlier, the study shows. If you do try to negotiate the interest rate, it’s worthwhile being armed with another favorable offer you’ve received to see if they can match it, Schulz said. He also pointed out that if you already are paying a lower-than-average interest rate, it’s less likely you’ll get a huge reduction. You can also explore 0% deals, which typically charge you an upfront fee but no interest for a set amount of time. And, because the poll was random, Schulz said the success rate is likely not limited to consumers with high credit scores. “That’s a really positive sign and a good indicator that even folks with not-perfect credit should take time to ask,” he said. “Otherwise, you could end up paying more to your credit card company than you probably need to.”


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: sarah obrien
Keywords: news, cnbc, companies, company, rate, schulz, pay, fee, ask, try, survey, card, heres, credit, interest


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Here are the most-loved stocks on Wall Street, including Amazon and a little-known energy company

Both the online retailing juggernaut and Diamondback Energy are universally loved on Wall Street, with all analysts that cover the stocks rating them a buy. They are the only two out of 500 stocks where that’s the case, according to FactSet. CNBC used FactSet to screen all S&P 500 companies looking for the stocks with the highest percentage of buy ratings compared with total ratings. Amazon, the world’s second most valuable company behind Microsoft, grew its share of the U.S. e-commerce market t


Both the online retailing juggernaut and Diamondback Energy are universally loved on Wall Street, with all analysts that cover the stocks rating them a buy. They are the only two out of 500 stocks where that’s the case, according to FactSet. CNBC used FactSet to screen all S&P 500 companies looking for the stocks with the highest percentage of buy ratings compared with total ratings. Amazon, the world’s second most valuable company behind Microsoft, grew its share of the U.S. e-commerce market t
Here are the most-loved stocks on Wall Street, including Amazon and a little-known energy company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, company, buy, ratings, energy, upside, highest, according, littleknown, amazon, 500, wall, mostloved, stocks, companies, including, analysts, street


Here are the most-loved stocks on Wall Street, including Amazon and a little-known energy company

Both the online retailing juggernaut and Diamondback Energy are universally loved on Wall Street, with all analysts that cover the stocks rating them a buy. They are the only two out of 500 stocks where that’s the case, according to FactSet.

CNBC used FactSet to screen all S&P 500 companies looking for the stocks with the highest percentage of buy ratings compared with total ratings. We threw out companies that had less than 10 analysts covering them.

Amazon, the world’s second most valuable company behind Microsoft, grew its share of the U.S. e-commerce market to 42% in 2018, according to J.P. Morgan. The bank expects Amazon, whose stock has surged more than 2,000% in the past decade, to surpass Walmart as the largest U.S. retailer in 2020. Amazon shares are up 23% this year.

“The highest quality management and franchise within global internet – a must own name with huge upside even from here,” Pivotal Research’s Michael Levine said in a note to clients about Amazon. “AWS duration will surprise to the upside both on topline and EBIT and the move towards one day shipping is a significant step to owning the consumer’s wallet.”


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, company, buy, ratings, energy, upside, highest, according, littleknown, amazon, 500, wall, mostloved, stocks, companies, including, analysts, street


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Stocks moving after hours: Broadcom, Fiverr, chip stocks

The San Jose-based company reported earnings of $5.21 per share, excluding certain items, beating the $5.16 per share expected by analysts, according to Refinitiv. However, the reported $5.52 billion in revenue was below Refinitiv’s consensus estimate of $5.68 billion. Broadcom lowered its guidance for full-year revenue from $24.50 billion to $22.50 billion. Other chip stocks followed Broadcom into the red after hours. The company, which connects gig economy workers with jobs, saw its stock pric


The San Jose-based company reported earnings of $5.21 per share, excluding certain items, beating the $5.16 per share expected by analysts, according to Refinitiv. However, the reported $5.52 billion in revenue was below Refinitiv’s consensus estimate of $5.68 billion. Broadcom lowered its guidance for full-year revenue from $24.50 billion to $22.50 billion. Other chip stocks followed Broadcom into the red after hours. The company, which connects gig economy workers with jobs, saw its stock pric
Stocks moving after hours: Broadcom, Fiverr, chip stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: jesse pound, lauren feiner
Keywords: news, cnbc, companies, market, fiverr, billion, analysts, reported, broadcom, share, refinitiv, moving, company, hours, chip, revenue, stocks


Stocks moving after hours: Broadcom, Fiverr, chip stocks

Check out the companies making headlines after the bell:

Shares of chipmaker Broadcom plunged 8% in extended trading Thursday after the company missed revenue expectations for the second quarter and lowered its revenue guidance for the full fiscal year. The San Jose-based company reported earnings of $5.21 per share, excluding certain items, beating the $5.16 per share expected by analysts, according to Refinitiv. However, the reported $5.52 billion in revenue was below Refinitiv’s consensus estimate of $5.68 billion.

Broadcom lowered its guidance for full-year revenue from $24.50 billion to $22.50 billion. Analysts expected $24.31 billion, according to Refinitiv. The company cited a U.S. ban on working with Chinese device giant Huawei in lowering its revenue outlook.

Other chip stocks followed Broadcom into the red after hours. Broadcom CEO Hock Tan said on a call with analysts that uncertainty in the industry extended beyond Huawei. Advanced Micro Devices, Micron Technology, Qualcomm and Nvidia all fell roughly 1.8%. Texas Instruments and Analog Devices fell more than 2.5% each.

Fiverr’s strong market debut continued after hours, as the company’s shares rose another 5.5%. The company, which connects gig economy workers with jobs, saw its stock price rise 90% during market hours in its first day on the public exchanges Thursday.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: jesse pound, lauren feiner
Keywords: news, cnbc, companies, market, fiverr, billion, analysts, reported, broadcom, share, refinitiv, moving, company, hours, chip, revenue, stocks


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Tyson Foods unveils plant-based nuggets as it moves into meat alternatives

The nation’s biggest meat producer is plotting its entry into plant-based meat substitutes. Tyson Foods said Thursday it will debut plant-based nuggets this summer as part of a new brand, Raised & Rooted, that will sell plant-based and blended meat products. Beyond Meat, a former Tyson investment, previously sold plant-based chicken strips, but the company pulled the product from grocery store freezers earlier this year. Perdue Foods, another large meat producer, said Wednesday it will distribut


The nation’s biggest meat producer is plotting its entry into plant-based meat substitutes. Tyson Foods said Thursday it will debut plant-based nuggets this summer as part of a new brand, Raised & Rooted, that will sell plant-based and blended meat products. Beyond Meat, a former Tyson investment, previously sold plant-based chicken strips, but the company pulled the product from grocery store freezers earlier this year. Perdue Foods, another large meat producer, said Wednesday it will distribut
Tyson Foods unveils plant-based nuggets as it moves into meat alternatives Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: amelia lucas
Keywords: news, cnbc, companies, company, meat, moves, plans, tyson, alternatives, protein, plantbased, foods, companys, chicken, producer, unveils, nuggets


Tyson Foods unveils plant-based nuggets as it moves into meat alternatives

The nation’s biggest meat producer is plotting its entry into plant-based meat substitutes.

Tyson Foods said Thursday it will debut plant-based nuggets this summer as part of a new brand, Raised & Rooted, that will sell plant-based and blended meat products.

Tyson executives have been teasing the company’s move into meat alternatives since February, but this is the first time the meatpacker is revealing its plans to compete with the likes of Impossible Foods and Beyond Meat.

“We remain firmly committed to our growing traditional meat business and expect to be a market leader in alternative protein, which is experiencing double-digit growth and could someday be a billion-dollar business for our company,” CEO Noel White said in a statement.

The flexitarian diet is driving the growth of the market for meat alternatives, which Euromonitor expects will hit $22.9 billion globally by 2023. Nearly 60% of U.S. consumers are interested in eating less meat, according to Mintel.

Beyond Meat, a former Tyson investment, previously sold plant-based chicken strips, but the company pulled the product from grocery store freezers earlier this year.

Tyson’s imitation nuggets use pea protein in place of chicken. The company also plans to release a blended burger made with Angus beef and pea protein under the new brand.

The Springdale, Arkansas-based company said it plans to introduce more alternative protein products across its portfolio of brands and to food-service operators. The company’s Aidells brand already sells sausage and meatballs that blend chicken with plant-based ingredients.

Perdue Foods, another large meat producer, said Wednesday it will distribute new chicken nuggets, tenders and patties that blend meat with vegetables.

In addition to the new brand, Tyson has been investing in start-ups focused on alternative proteins. The company’s venture capital fund has invested in mushroom-based protein producer MycoTechnology and cultured meat producers Memphis Meats and Future Meat Technologies.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: amelia lucas
Keywords: news, cnbc, companies, company, meat, moves, plans, tyson, alternatives, protein, plantbased, foods, companys, chicken, producer, unveils, nuggets


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Campbell promises bone broth, ‘plant-based cooking platform’ as it looks to reinvent its soup buisiness

Cans of Campbell’s soup are displayed on a shelf at a grocery store on June 05, 2019 in Richmond, California. “Soup is our middle name,” Mark Clouse, CEO of Campbell Soup Company, reminded the audience during the company’s investor day on Thursday. Part of Clouse’s mandate has been to revive its soup business, which has contributed to Campbell’s weak performance. Sales of Campbell’s soup have fallen 4% over the past year, according to Nielsen. Falling soup sales over the past few years has led t


Cans of Campbell’s soup are displayed on a shelf at a grocery store on June 05, 2019 in Richmond, California. “Soup is our middle name,” Mark Clouse, CEO of Campbell Soup Company, reminded the audience during the company’s investor day on Thursday. Part of Clouse’s mandate has been to revive its soup business, which has contributed to Campbell’s weak performance. Sales of Campbell’s soup have fallen 4% over the past year, according to Nielsen. Falling soup sales over the past few years has led t
Campbell promises bone broth, ‘plant-based cooking platform’ as it looks to reinvent its soup buisiness Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: lauren hirsch
Keywords: news, cnbc, companies, promises, plantbased, campbell, buisiness, company, cooking, campbells, yeartodate, past, broth, business, reinvent, platform, wellness, sales, looks, ceo, soup


Campbell promises bone broth, 'plant-based cooking platform' as it looks to reinvent its soup buisiness

Cans of Campbell’s soup are displayed on a shelf at a grocery store on June 05, 2019 in Richmond, California.

“Soup is our middle name,” Mark Clouse, CEO of Campbell Soup Company, reminded the audience during the company’s investor day on Thursday.

And the company plans on reviving its namesake.

Clouse started his tenure as CEO in January after a run in the same position at Pinnacle Foods. He came on as the company was under pressure from activist firm Third Point, which had lambasted Campbell for a string of quarterly misses. Part of Clouse’s mandate has been to revive its soup business, which has contributed to Campbell’s weak performance.

Some of the business has already shown signs of improvement. Shares of Campbell are up 29% year-to-date, giving it a market capitalization of $12.8 billion, boosted in part by sales in its Pepperidge Farms snacking business.

Still, sales of soup, which are roughly a quarter of Campbell’s annual sales, continue to lag. Many of its soup products are condensed, off-trend with today’s health-focused consumers. Sales of Campbell’s soup have fallen 4% over the past year, according to Nielsen. Falling soup sales over the past few years has led to declining clout with retail giants like Walmart.

Clouse is looking to change that. He listed a number of new innovations the company is planning, many of which will aim to take advantage of recent trends in wellness.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: lauren hirsch
Keywords: news, cnbc, companies, promises, plantbased, campbell, buisiness, company, cooking, campbells, yeartodate, past, broth, business, reinvent, platform, wellness, sales, looks, ceo, soup


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