Stocks making the biggest moves premarket: Goldman Sachs, CVS, Best Buy, Facebook & more

Goldman also increased its quarterly dividend to 85 cents per share from 80 cents a share. Waste Management — Waste Management is buying smaller rival Advanced Disposal Services for $3 billion or $33.15 per share in cash. Best Buy — Best Buy named chief financial officer Corie Barry as its next CEO, effective at the annual meeting on June 11. Wells Fargo — Wells Fargo was downgraded to “neutral” from “buy” at Goldman Sachs and removed from the “Conviction Buy” list. CORRECTION: This article has


Goldman also increased its quarterly dividend to 85 cents per share from 80 cents a share. Waste Management — Waste Management is buying smaller rival Advanced Disposal Services for $3 billion or $33.15 per share in cash. Best Buy — Best Buy named chief financial officer Corie Barry as its next CEO, effective at the annual meeting on June 11. Wells Fargo — Wells Fargo was downgraded to “neutral” from “buy” at Goldman Sachs and removed from the “Conviction Buy” list. CORRECTION: This article has
Stocks making the biggest moves premarket: Goldman Sachs, CVS, Best Buy, Facebook & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: peter schacknow
Keywords: news, cnbc, companies, moves, biggest, morgan, billion, buy, facebook, financial, company, share, ceo, goldman, drug, stocks, sachs, premarket, dollar, making, cvs


Stocks making the biggest moves premarket: Goldman Sachs, CVS, Best Buy, Facebook & more

Check out the companies making headlines before the bell:

Goldman Sachs — The investment bank reported quarterly profit of $5.71 per share, beating the consensus estimate of $4.89. Revenue fell short of forecasts, however. Goldman also increased its quarterly dividend to 85 cents per share from 80 cents a share.

Waste Management — Waste Management is buying smaller rival Advanced Disposal Services for $3 billion or $33.15 per share in cash. That represents a 22 percent premium over Advanced Disposal’s Friday closing price.

CVS Health — Oppenheimer downgraded CVS to “perform” from “outperform,” citing near-term legacy business challenges and its opinion that the execution of the company’s strategy is more of a longer term opportunity for investors.

Catalent — Catalent announced a deal to buy closely held Paragon Bioservices for $1.2 billion in cash. The contract drug manufacturer will expand its presence in gene therapy drugs with the acquisition of Paragon.

Best Buy — Best Buy named chief financial officer Corie Barry as its next CEO, effective at the annual meeting on June 11. Current CEO Hubert Joly will move to the newly created role of executive chairman.

Facebook — Former White House chief of staff Erskine Bowles and Netflix CEO Reed Hastings will be leaving the Facebook board later this year. The company announced that neither would stand for re-election later this year after serving on the board since 2011.

Anheuser-Busch InBev — The beer brewer has added Citigroup and Bank of America to its roster of banks working on a $5 billion Asian initial public offering, according to Reuters. Morgan Stanley and JPMorgan Chase area already participants in the deal.

Lyft — The ride-hailing service is recalling several thousand electric bikes in three cities due to some braking issues. The recall affects bicycles in New York, Washington, and San Francisco.

Levi Strauss — The jeans company was rated “overweight” in new coverage at J.P. Morgan Securities and “outperform” at Telsey. J.P. Morgan said the company has a mature brand multiyear growth drivers in place, while Telsey notes a “position of strength” as Levi Strauss returns to the public markets.

American Airlines — The airline extended cancellations of flight’s involving Boeing’s 737 Max jet through August 19, affecting about 115 flights per day.

Alliance Data — The marketing company’s Epsilon unit will be bought by French advertising giant Publicis for $4.4 billion, in a move by Publicis to expand its North American presence.

Walmart, Kroger — Walmart and Kroger were among retail companies sent letters by the Food and Drug Administration asking for a plan of action to prevent the sale of tobacco products to minors. Dollar Tree’s Family Dollar unit and retail stores run by Chevron and Exxon Mobil were also among those cited.

Apple — Apple is spending “hundreds of millions” of dollars on new video games for its upcoming Arcade subscription service, according to a report in the Financial Times.

Clovis Oncology — Clovis is discontinuing trials for a drug that targets bladder cancer, after a review of data showed that the drug may not provide a meaningful clinical benefit.

Wells Fargo — Wells Fargo was downgraded to “neutral” from “buy” at Goldman Sachs and removed from the “Conviction Buy” list. Goldman questions the bank’s ability to meet near-term and long-term financial targets.

Caesar’s Entertainment — Caesar’s will name Affinity Gaming Chief Executive Officer Anthony Rodio as its next CEO and will evaluate takeover interest in the casino operator, according to The Wall Street Journal.

CORRECTION: This article has been updated to show that Family Dollar is owned by Dollar Tree, not Dollar General.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: peter schacknow
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Apple and Qualcomm are about to begin their massive, multi-billion dollar patent trial

Apple and its allies on Monday will kick off a jury trial against chip supplier Qualcomm in San Diego, alleging that Qualcomm engaged in illegal patent licensing practices and seeking up to $27 billion in damages. Qualcomm, for its part, alleges that Apple forced its longtime business partners to quit paying some royalties and is seeking up to $15 billion. Qualcomm has spent the past two years mounting a pressure campaign of smaller legal skirmishes against Apple, seeking – and in some cases obt


Apple and its allies on Monday will kick off a jury trial against chip supplier Qualcomm in San Diego, alleging that Qualcomm engaged in illegal patent licensing practices and seeking up to $27 billion in damages. Qualcomm, for its part, alleges that Apple forced its longtime business partners to quit paying some royalties and is seeking up to $15 billion. Qualcomm has spent the past two years mounting a pressure campaign of smaller legal skirmishes against Apple, seeking – and in some cases obt
Apple and Qualcomm are about to begin their massive, multi-billion dollar patent trial Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: sean gallup, getty images news, getty images
Keywords: news, cnbc, companies, massive, patent, seeking, chips, qualcomm, multibillion, licensing, begin, practices, business, chip, trial, apple, dollar, supplier


Apple and Qualcomm are about to begin their massive, multi-billion dollar patent trial

Apple and its allies on Monday will kick off a jury trial against chip supplier Qualcomm in San Diego, alleging that Qualcomm engaged in illegal patent licensing practices and seeking up to $27 billion in damages.

Qualcomm, for its part, alleges that Apple forced its longtime business partners to quit paying some royalties and is seeking up to $15 billion.

Filed by Apple in early 2017, the lawsuit in federal court revolves around the modem chips that connect devices like the iPhone or Apple Watch to wireless data networks. Qualcomm has spent the past two years mounting a pressure campaign of smaller legal skirmishes against Apple, seeking – and in some cases obtaining – iPhone sales bans for violating its patents.

The trial before Judge Gonzalo Curiel will play out on Qualcomm’s home turf of San Diego, where for decades the city’s National Football League team played in Qualcomm Stadium and nearly every business district hosts the mobile chip firm’s logo.

For Apple, the trial is about the freedom to determine its own technology path for blockbuster products by buying chips without having to pay what it calls a “tax” on its innovations in the form of patent licensing fees to Qualcomm that take a cut of the selling price of its devices.

For Qualcomm, the trial, along with similar allegations from U.S. regulators in a January court hearing, will determine the fate of its unique blend of selling chips and licensing more than 130,000 patents.

Licensing generates most of Qualcomm profits. The model propelled Qualcomm from a small contract research and development shop when founded in 1985 to a global chip powerhouse important enough to U.S. national security that President Donald Trump personally intervened to prevent a hostile takeover of the company last year.

“This is the day of reckoning that Qualcomm has been very fortunate to avoid for many years,” said Gaston Kroub, a patent attorney with Kroub, Silbersher & Kolmykov who is not involved in the case. “In Apple, they’ve finally come up against a potential licensee that has the resources and the will to put Qualcomm’s business model and licensing practices on trial.”

Qualcomm requires device makers to sign a license to its patents before it will supply chips, which it views as a commonsense measure to ensure it does not do business with companies violating its patents. But Apple and other device makers around the world have called the “no license, no chips” policy a form of “double dipping” – that is, charging for the same intellectual property once during licensing discussions, and then again in the price of the chips where the patents are embodied.

Apple and allies are asking for an end to that practice and a refund of about $9 billion – an amount that could be tripled if a jury finds in Apple’s favor for antitrust allegations – for contract factories such as Hon Hai Precision Industry Co Ltd’s Foxconn, who paid the royalties and were reimbursed by Apple. Apple alleges the practices kept rivals like Intel Corp out of the market for years.

“Even very big companies like Intel have felt at a disadvantage,” said Michael Salzman, an antitrust attorney with Hughes Hubbard & Reed not involved in the case.

Qualcomm will argue that it had been working successfully with contract factories for years before Apple introduced its iPhone. But Apple used its heft in the industry to get those factories to break their longstanding contracts with Qualcomm, depriving it of at least $7 billion in royalties it was due, the chip supplier alleges.

The chip supplier will also argue that its licensing practices have been consistent for decades and only came under fire when Apple, known in the electronics industry for pushing suppliers to contain costs, took issue with it. A victory would secure Qualcomm’s status as a major technology provider for 5G, the next generation of mobile data networks coming online this year.

“I don’t think (a Qualcomm victory) would be great for Apple, but if it’s about money, they’ve got plenty of money,” said Stacy Rasgon, an equity analyst for Bernstein who follows Qualcomm. “For Qualcomm, it’s an existential attack on the meat of their business model.”


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: sean gallup, getty images news, getty images
Keywords: news, cnbc, companies, massive, patent, seeking, chips, qualcomm, multibillion, licensing, begin, practices, business, chip, trial, apple, dollar, supplier


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Stocks in Asia mixed amid hopes of progress in US-China trade

Overnight on Wall Street, stocks finished the trading day stateside close to the flatline. The Dow Jones Industrial Average shed 14.11 points to 26,143.05 and the S&P 500 posted a marginal gain at 2,888.32. “We are hopeful we can do this quickly, but we are not going to set an arbitrary deadline,” Mnuchin added. Meanwhile, U.S. Federal Reserve Vice Chairman Richard Clarida told CNBC on Thursday that officials at the central bank see no necessity to move interest rates in either direction at pres


Overnight on Wall Street, stocks finished the trading day stateside close to the flatline. The Dow Jones Industrial Average shed 14.11 points to 26,143.05 and the S&P 500 posted a marginal gain at 2,888.32. “We are hopeful we can do this quickly, but we are not going to set an arbitrary deadline,” Mnuchin added. Meanwhile, U.S. Federal Reserve Vice Chairman Richard Clarida told CNBC on Thursday that officials at the central bank see no necessity to move interest rates in either direction at pres
Stocks in Asia mixed amid hopes of progress in US-China trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: eustance huang
Keywords: news, cnbc, companies, dollar, progress, hopes, trade, amid, wall, street, mixed, report, rate, open, told, asia, stocks, trading, uschina, deal


Stocks in Asia mixed amid hopes of progress in US-China trade

Overnight on Wall Street, stocks finished the trading day stateside close to the flatline. The Dow Jones Industrial Average shed 14.11 points to 26,143.05 and the S&P 500 posted a marginal gain at 2,888.32. The Nasdaq Composite declined 0.2 percent to 7,947.36.

The Wall Street Journal reported Thursday that China agreed to open its cloud-computing sector to foreign companies in an attempt to sweeten a deal with the U.S.

That report followed Treasury Secretary Steven Mnuchin telling CNBC on Wednesday that Washington and Beijing have “pretty much agreed on an enforcement mechanism” for when a deal is struck.The two economic powerhouses have been attempting to strike a deal amid a protracted trade fight.

“We are hopeful we can do this quickly, but we are not going to set an arbitrary deadline,” Mnuchin added. “If we can complete this agreement, this will be the most significant changes to the economic relationship between the U.S. and China in really the last 40 years.”

Meanwhile, U.S. Federal Reserve Vice Chairman Richard Clarida told CNBC on Thursday that officials at the central bank see no necessity to move interest rates in either direction at present.

“One of the virtues of having the ability to be patient is that you just let the data come in,” he told CNBC on Thursday. “We don’t see a need now for a move in either direction.”

Clarida’s comments came a day after the FOMC released minutes from its March meeting, at which the Fed adjusted its forecast to no rate moves this year. The minutes reflected a central bank that will watch the data closely this year, with some members leaving open the chance of a rate hike if conditions continue to improve.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.144 after rising from levels below 97.0 yesterday.

The Japanese yen traded at 111.66 against the dollar after weakening from highs below 111.0 in the previous session. The Australian dollar changed hands at $0.7116 following a slip from the $0.717 handle yesterday.

Oil prices rose in the morning of Asian trading hours, with the international benchmark Brent crude futures adding 0.2 percent to $70.97 per barrel and U.S. crude futures gaining 0.27 percent to $63.75 per barrel.

— CNBC’s Fred Imbert and Jeff Cox contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: eustance huang
Keywords: news, cnbc, companies, dollar, progress, hopes, trade, amid, wall, street, mixed, report, rate, open, told, asia, stocks, trading, uschina, deal


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Saudi Arabia denies it threatened to strip the US dollar from oil trading

Saudi Arabia on Monday denied a report that the kingdom is threatening to sell its oil in currencies other than the U.S. dollar if American lawmakers pass legislation targeting OPEC. Most crude oil is traded in U.S. dollars, and selling crude in other currencies could chip away at the greenback’s dominant role in the international financial system. According to Reuters, the plan to marginalize the dollar in oil trading was a response to potential passage of the bipartisan No Oil Producing and Ex


Saudi Arabia on Monday denied a report that the kingdom is threatening to sell its oil in currencies other than the U.S. dollar if American lawmakers pass legislation targeting OPEC. Most crude oil is traded in U.S. dollars, and selling crude in other currencies could chip away at the greenback’s dominant role in the international financial system. According to Reuters, the plan to marginalize the dollar in oil trading was a response to potential passage of the bipartisan No Oil Producing and Ex
Saudi Arabia denies it threatened to strip the US dollar from oil trading Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: tom dichristopher, faisal al nasser
Keywords: news, cnbc, companies, arabia, ministry, trading, saudi, oil, energy, crude, strip, denies, targeting, dollar, kingdom, threatened, financial


Saudi Arabia denies it threatened to strip the US dollar from oil trading

Saudi Arabia on Monday denied a report that the kingdom is threatening to sell its oil in currencies other than the U.S. dollar if American lawmakers pass legislation targeting OPEC.

Reuters reported last week that the Saudis had raised the issue within OPEC and with U.S. officials. Most crude oil is traded in U.S. dollars, and selling crude in other currencies could chip away at the greenback’s dominant role in the international financial system.

On Monday, the kingdom called the report inaccurate, saying it does “not reflect Saudi Arabia’s position on this matter.”

“The Kingdom has been trading its oil in dollars for decades which has served well the objectives of its financial and monetary policies,” the Ministry of Energy, Industry and Mineral Resources said in a statement.

According to Reuters, the plan to marginalize the dollar in oil trading was a response to potential passage of the bipartisan No Oil Producing and Exporting Cartels Act in Congress. The so-called NOPEC legislation would enable the Justice Department to sue OPEC for coordinating production.

The 14-nation producer group helps to drain oversupply from the oil market and boost crude prices by cutting output. The group is currently partnering with Russia and other nonmember oil producers to keep 1.2 million barrels per day off the market.

The Saudi Energy Ministry on Monday suggested that targeting the dollar could disrupt OPEC’s objectives.

“Furthermore, the Ministry reaffirms the Kingdom’s commitment to its role as a stabilizing force of energy markets, and its desire not to risk such a key policy priority through a fundamental change to the financial terms of oil trading relationships around the world,” it said.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: tom dichristopher, faisal al nasser
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Snap is taking on Apple in the multi-billion dollar mobile gaming business

Snap announced a new ad-supported gaming platform Thursday, joining Google and Apple in a quest to grab attention and dollars from the multi-billion gaming industry. Snap announced six new original and third-party games that will begin rolling out on its flagship Snapchat app Thursday. Shares of Snap were up 1.1 percent following its series of announcements at the Snap Partner Summit Thursday. Snap’s advertising model stands in contrast to the subscription gaming service Apple plans to launch th


Snap announced a new ad-supported gaming platform Thursday, joining Google and Apple in a quest to grab attention and dollars from the multi-billion gaming industry. Snap announced six new original and third-party games that will begin rolling out on its flagship Snapchat app Thursday. Shares of Snap were up 1.1 percent following its series of announcements at the Snap Partner Summit Thursday. Snap’s advertising model stands in contrast to the subscription gaming service Apple plans to launch th
Snap is taking on Apple in the multi-billion dollar mobile gaming business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-04  Authors: julia boorstin, lauren feiner, adam galica, justin sullivan, getty images
Keywords: news, cnbc, companies, mobile, taking, multibillion, apple, games, game, announced, app, platform, snap, dollar, users, gaming, business, launch


Snap is taking on Apple in the multi-billion dollar mobile gaming business

Snap announced a new ad-supported gaming platform Thursday, joining Google and Apple in a quest to grab attention and dollars from the multi-billion gaming industry.

Snap announced six new original and third-party games that will begin rolling out on its flagship Snapchat app Thursday. The feature is a way for Snap to entice its Gen Z audience in a new way as other free-to-play games like Epic Game’s “Fortnite” and EA’s “Apex Legends” continue to capture teens’ interest and time. Shares of Snap were up 1.1 percent following its series of announcements at the Snap Partner Summit Thursday.

Snap is betting that engagement with games will also lure more advertising dollars to its platform with non-skippable, six second video ads. Analysts were still skeptical about the company’s ability to maintain its user base even after posting better than expected earnings with stabilizing user engagement in its fourth quarter 2018. Snap’s stock is down about 23 percent over the past 12 months, but has seen a significant rally over the past six months, rising 45 percent to trade around $11.28 on Thursday.

Snap’s advertising model stands in contrast to the subscription gaming service Apple plans to launch this fall. Apple Arcade will feature over 100 games exclusively on Apple devices, the company announced at a media event last month, though it has yet to name a price for the bundle.

Google has also gotten into the gaming space, announcing last month it will launch a new streaming service called Stadia this year, which will let users play high quality games without expensive gaming consoles or computers. But like Apple, Google has yet to name a price for the service.

Snapchat users will be able to access games directly from the chat feature of the app and invite friends to join them. In prepared remarks for Thursday’s announcement, Snap Director of Product Will Wu said the company wanted to create a gaming platform that made it easier to play games with friends on mobile.

“We wanted to build something that makes us feel like we’re playing a board game with family over a long holiday weekend,” Wu said. While there are several steps involved in getting a group of friends to join a game together on a separate app, Wu said Snapchat’s existing platform gives it “the right ingredients to break down these barriers.”

The first of Snap’s games to launch will be Bitmoji Party, an original game that lets users compete as their Bitmoji avatars, which are cartoon-like characters designed by users. Snap will soon roll out its third-party games as well, including two battle-royale games, the same style as “Apex Legends” and “Fortnite.”

In addition to Snap Games, the company announced several other new features at its event Thursday. Snap will also introduce “app stories” that let third-party apps like Tinder, HouseParty and AdvertureAide allow their users to create custom stories through the Snapchat app. It also plans to launch a new lineup of original shows and a new augmented reality feature.

Subscribe to CNBC on YouTube.

Watch: Google announces new game streaming service called Stadia


Company: cnbc, Activity: cnbc, Date: 2019-04-04  Authors: julia boorstin, lauren feiner, adam galica, justin sullivan, getty images
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Major Asian markets close higher as US-China trade talks resume this week

The Dow Jones Industrial Average gained 91.87 points to 25,717.46 and the S&P 500 added 0.4 percent to 2,815.44 — on track for its best first-quarter performance since 1998. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.129 after rising from lows below 97.0 yesterday. The Australian dollar was at $0.7098 after weakening from the $0.71 handle in the previous session. Oil prices gained in the afternoon of Asian trading hours, as the international benchm


The Dow Jones Industrial Average gained 91.87 points to 25,717.46 and the S&P 500 added 0.4 percent to 2,815.44 — on track for its best first-quarter performance since 1998. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.129 after rising from lows below 97.0 yesterday. The Australian dollar was at $0.7098 after weakening from the $0.71 handle in the previous session. Oil prices gained in the afternoon of Asian trading hours, as the international benchm
Major Asian markets close higher as US-China trade talks resume this week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: eustance huang
Keywords: news, cnbc, companies, markets, treasury, dollar, talks, resume, rose, week, asian, uschina, higher, report, points, close, rising, gained, futures, economic, trade, major


Major Asian markets close higher as US-China trade talks resume this week

Overnight on Wall Street, stocks rose. The Dow Jones Industrial Average gained 91.87 points to 25,717.46 and the S&P 500 added 0.4 percent to 2,815.44 — on track for its best first-quarter performance since 1998. The Nasdaq Composite rose 0.3 percent to 7,669.17.

The moves stateside came following a Reuters report that Chinese officials made unprecedented offers regarding forced technology transfers as well as other major sticking points, as U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin arrived in Beijing for further negotiations.

The trade standoff between the two economic powerhouses has been closely watched by investors, amid rising concerns of an economic slowdown as the bond market flashed signals that a recession could come soon.

“I think ultimately we will be rewarded with a deal of sorts which both sides will proclaim … as a fantastic victory,” Rob Carnell, chief economist and head of Asia-Pacific research at ING Bank, told CNBC’s “Squawk Box” on Friday.

“The thing to bear in mind is this is a process,” Carnell said. “Whatever we get out of this, it’s nice to say ‘right, okay we’ll draw a line under this bit, now we have to look forward to all the other things that we haven’t sorted out’.”

The 10-year Treasury rate hit its lowest level since December of 2017 on Thursday. This comes after the same bond fell below its three-month counterpart last week — a phenomenon described as a inverted yield curve, seen as an early indicator of a recession.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.129 after rising from lows below 97.0 yesterday.

The Australian dollar was at $0.7098 after weakening from the $0.71 handle in the previous session.

Oil prices gained in the afternoon of Asian trading hours, as the international benchmark Brent crude futures added 0.27 percent to $68.00 per barrel. U.S. crude futures also rose 0.42 percent to $59.56 per barrel.

— CNBC’s Fred Imbert contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: eustance huang
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Sell the Aussie and Kiwi dollar, buy the yuan, says ANZ

Investors should sell the Australian dollar and New Zealand dollar, and put their money in the Chinese yuan and the Singapore dollar instead, according to the Head of Asia Research at ANZ bank, Khoon Goh. “The trade we’ve been recommending is to short the Australian dollar against the Singapore dollar, and to short the New Zealand dollar against the yuan,” Goh told CNBC on Friday. The Kiwi dollar was hit as a result on Wednesday, dropping 1.6 percent to below $0.68, while the Australian dollar w


Investors should sell the Australian dollar and New Zealand dollar, and put their money in the Chinese yuan and the Singapore dollar instead, according to the Head of Asia Research at ANZ bank, Khoon Goh. “The trade we’ve been recommending is to short the Australian dollar against the Singapore dollar, and to short the New Zealand dollar against the yuan,” Goh told CNBC on Friday. The Kiwi dollar was hit as a result on Wednesday, dropping 1.6 percent to below $0.68, while the Australian dollar w
Sell the Aussie and Kiwi dollar, buy the yuan, says ANZ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: weizhen tan, angelo nz, getty images
Keywords: news, cnbc, companies, buy, dollar, zealand, kiwi, sell, chinese, trading, value, anz, view, aussie, yuan, goh, singapore, australian


Sell the Aussie and Kiwi dollar, buy the yuan, says ANZ

Investors should sell the Australian dollar and New Zealand dollar, and put their money in the Chinese yuan and the Singapore dollar instead, according to the Head of Asia Research at ANZ bank, Khoon Goh.

“The trade we’ve been recommending is to short the Australian dollar against the Singapore dollar, and to short the New Zealand dollar against the yuan,” Goh told CNBC on Friday.

Shorting is a trading strategy that involves selling a borrowed stock or currency, with a view that it will drop in value, and can be bought back later at a lower price.

“I think that provides a good mix of play into the dovishness of the antipodean central banks and also the resilience of the Asian currencies,” Goh said, referring to the central banks in Australia and New Zealand.

This week, the Reserve Bank of New Zealand shocked investors when it announced its next move in interest rates was more likely to be a cut. The Kiwi dollar was hit as a result on Wednesday, dropping 1.6 percent to below $0.68, while the Australian dollar weakened half a percent to $0.71.

The Australian dollar has also been hit hard this year, pummeled by twin concerns of its own economy and that of China — it’s largest trading partner.

While Goh is expecting both those currencies to fall in value, he was a little more positive on the Australian dollar, saying that there was “further scope for the Aussie to outperform the Kiwi.”

Comparatively, Goh said he was “fairly optimistic about the Chinese yuan.”

“We’re expecting the yuan to appreciate over the course of this year, largely on the back of our view that Chinese growth will start to stabilize in the second quarter as it responds to the various stimulus measures,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: weizhen tan, angelo nz, getty images
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Palantir in multi-million dollar Pentagon deal IPO on horizon

Programs of record are essentially the biggest, multi-year projects awarded by the Pentagon. The contract would require Palantir to build an intelligence system to aid soldiers in remote environments, called an Army Distributed Common Ground System, known as a DCGS-A. “While we are disappointed in the Army’s decision on this initial delivery order, it represents a relatively small number of systems. Stevens said Raytheon was awarded a DCGS-A 10-year contract last March, part of a “multiple deliv


Programs of record are essentially the biggest, multi-year projects awarded by the Pentagon. The contract would require Palantir to build an intelligence system to aid soldiers in remote environments, called an Army Distributed Common Ground System, known as a DCGS-A. “While we are disappointed in the Army’s decision on this initial delivery order, it represents a relatively small number of systems. Stevens said Raytheon was awarded a DCGS-A 10-year contract last March, part of a “multiple deliv
Palantir in multi-million dollar Pentagon deal IPO on horizon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: kate fazzini, amanda macias, getty images
Keywords: news, cnbc, companies, pentagon, trump, intelligence, horizon, palantir, contract, multimillion, ipo, deal, raytheon, delivery, valley, worth, company, army, dollar


Palantir in multi-million dollar Pentagon deal IPO on horizon

Palantir Technologies, a Silicon Valley data analytics company founded by Trump adviser Peter Thiel and with roots in the CIA-backed In-Q-Tel venture capital organization, has won a major Army contract worth up to $800 million, CNBC has confirmed.

It’s the first time the venture-backed company has been named a “defense program of record.” Programs of record are essentially the biggest, multi-year projects awarded by the Pentagon.

The contract would require Palantir to build an intelligence system to aid soldiers in remote environments, called an Army Distributed Common Ground System, known as a DCGS-A. It was previously reported by the Washington Post.

Palantir, which has been rumored to be close to an initial public offering, beat out Raytheon, a more traditional defense contractor without Palantir’s Silicon Valley roots, a departure for the Army in terms of its biggest contracts.

“While we are disappointed in the Army’s decision on this initial delivery order, it represents a relatively small number of systems. We will actively compete for future delivery orders as we continue to work closely with the Army to help them meet their intelligence needs,” said Maureen Stevens, a Raytheon spokeswoman, via email. Stevens said Raytheon was awarded a DCGS-A 10-year contract last March, part of a “multiple delivery” plan by the Army. The Pentagon did not immediately respond to request for comment.

The deal would dwarf Palantir’s most recent government contracts, including a $222 million award in 2016 from the Department of Defense’s Special Operations Command (SOCOM). That sole-source award was for a technology and logistics software and support project called “All-Source Information Fusion,” meant to bring together intelligence and other information gathered by SOCOM, which oversees the special operations units of all branches of the U.S. military.

Palantir’s customers have included top-tier banks, government agencies, health-care firms and manufacturers in the automotive and aerospace industries. The company provides tools for visualizing and making use of huge swaths of data, using proprietary software. Financial industry analysts have been monitoring Palantir as an IPO candidate for 2019.

Thiel co-founded Palantir in 2003, and was the company’s largest shareholder at its last round of funding in 2015, which valued it at $20 billion. The iconoclastic tech investor is worth $2.5 billion according to Forbes, and earned his fortune as an early leader of PayPal and investor in Facebook, where he sits on the board of directors. He was a prominent supporter of Trump during the 2016 presidential campaign, and has advised the administration informally on technology and science since then.


Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: kate fazzini, amanda macias, getty images
Keywords: news, cnbc, companies, pentagon, trump, intelligence, horizon, palantir, contract, multimillion, ipo, deal, raytheon, delivery, valley, worth, company, army, dollar


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Palantir in multi-million dollar Pentagon deal IPO on horizon

Programs of record are essentially the biggest, multi-year projects awarded by the Pentagon. The contract would require Palantir to build an intelligence system to aid soldiers in remote environments, called an Army Distributed Common Ground System, known as a DCGS-A. “While we are disappointed in the Army’s decision on this initial delivery order, it represents a relatively small number of systems. Stevens said Raytheon was awarded a DCGS-A 10-year contract last March, part of a “multiple deliv


Programs of record are essentially the biggest, multi-year projects awarded by the Pentagon. The contract would require Palantir to build an intelligence system to aid soldiers in remote environments, called an Army Distributed Common Ground System, known as a DCGS-A. “While we are disappointed in the Army’s decision on this initial delivery order, it represents a relatively small number of systems. Stevens said Raytheon was awarded a DCGS-A 10-year contract last March, part of a “multiple deliv
Palantir in multi-million dollar Pentagon deal IPO on horizon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: kate fazzini, amanda macias, getty images
Keywords: news, cnbc, companies, pentagon, trump, intelligence, horizon, palantir, contract, multimillion, ipo, deal, raytheon, delivery, valley, worth, company, army, dollar


Palantir in multi-million dollar Pentagon deal IPO on horizon

Palantir Technologies, a Silicon Valley data analytics company founded by Trump adviser Peter Thiel and with roots in the CIA-backed In-Q-Tel venture capital organization, has won a major Army contract worth up to $800 million, CNBC has confirmed.

It’s the first time the venture-backed company has been named a “defense program of record.” Programs of record are essentially the biggest, multi-year projects awarded by the Pentagon.

The contract would require Palantir to build an intelligence system to aid soldiers in remote environments, called an Army Distributed Common Ground System, known as a DCGS-A. It was previously reported by the Washington Post.

Palantir, which has been rumored to be close to an initial public offering, beat out Raytheon, a more traditional defense contractor without Palantir’s Silicon Valley roots, a departure for the Army in terms of its biggest contracts.

“While we are disappointed in the Army’s decision on this initial delivery order, it represents a relatively small number of systems. We will actively compete for future delivery orders as we continue to work closely with the Army to help them meet their intelligence needs,” said Maureen Stevens, a Raytheon spokeswoman, via email. Stevens said Raytheon was awarded a DCGS-A 10-year contract last March, part of a “multiple delivery” plan by the Army. The Pentagon did not immediately respond to request for comment.

The deal would dwarf Palantir’s most recent government contracts, including a $222 million award in 2016 from the Department of Defense’s Special Operations Command (SOCOM). That sole-source award was for a technology and logistics software and support project called “All-Source Information Fusion,” meant to bring together intelligence and other information gathered by SOCOM, which oversees the special operations units of all branches of the U.S. military.

Palantir’s customers have included top-tier banks, government agencies, health-care firms and manufacturers in the automotive and aerospace industries. The company provides tools for visualizing and making use of huge swaths of data, using proprietary software. Financial industry analysts have been monitoring Palantir as an IPO candidate for 2019.

Thiel co-founded Palantir in 2003, and was the company’s largest shareholder at its last round of funding in 2015, which valued it at $20 billion. The iconoclastic tech investor is worth $2.5 billion according to Forbes, and earned his fortune as an early leader of PayPal and investor in Facebook, where he sits on the board of directors. He was a prominent supporter of Trump during the 2016 presidential campaign, and has advised the administration informally on technology and science since then.


Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: kate fazzini, amanda macias, getty images
Keywords: news, cnbc, companies, pentagon, trump, intelligence, horizon, palantir, contract, multimillion, ipo, deal, raytheon, delivery, valley, worth, company, army, dollar


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Why the dollar could keep rising this year even if the Fed doesn’t hike — further vexing Trump

“The dollar has stayed bid on the back of safe-haven demand,” said Peter Ng, senior FX trader at Silicon Valley Bank. “The global slowdown is affecting everyone and at the current moment, it doesn’t seem like there are any good replacements for the dollar.” Investors across the globe and asset classes are fretting over the possibility of a slowdown in economic growth amid weakening data. In the U.S., jobs creation came to an almost screeching halt in February as only 20,000 jobs were added. In E


“The dollar has stayed bid on the back of safe-haven demand,” said Peter Ng, senior FX trader at Silicon Valley Bank. “The global slowdown is affecting everyone and at the current moment, it doesn’t seem like there are any good replacements for the dollar.” Investors across the globe and asset classes are fretting over the possibility of a slowdown in economic growth amid weakening data. In the U.S., jobs creation came to an almost screeching halt in February as only 20,000 jobs were added. In E
Why the dollar could keep rising this year even if the Fed doesn’t hike — further vexing Trump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: fred imbert, getty images, chris goodney, bloomberg, mark wilson
Keywords: news, cnbc, companies, vexing, slowdown, bank, doesnt, 11, dollar, growth, rising, added, economic, current, trump, hike, fed, 2019, jobs


Why the dollar could keep rising this year even if the Fed doesn't hike — further vexing Trump

Westpac sees the US dollar ’tilting higher’ in 2H of 2019 4:21 AM ET Mon, 11 March 2019 | 03:20

The dollar’s rise defies the consensus from earlier in the year that the U.S. currency would go down as the Federal Reserve signaled fewer rate hikes. New tame inflation data on Tuesday supported the Fed’s new tack.

“The dollar has stayed bid on the back of safe-haven demand,” said Peter Ng, senior FX trader at Silicon Valley Bank. “The global slowdown is affecting everyone and at the current moment, it doesn’t seem like there are any good replacements for the dollar.”

Investors across the globe and asset classes are fretting over the possibility of a slowdown in economic growth amid weakening data.

Chinese exports dropped 20.7 percent in February from the year-earlier period, missing expectations.

In the U.S., jobs creation came to an almost screeching halt in February as only 20,000 jobs were added. Economists polled by Refinitv expected the U.S. economy to have added 180,000 jobs last month. Some experts, however, attributed some of the hiring weakness to factors like weather and lingering effects from the government shutdown.

In Europe, the European Central Bank slashed its euro zone growth forecast for 2019 to 1.1 percent from 1.7 percent. ECB President Mario Draghi said Thursday there is a “sizable moderation in economic expansion that will extend into the current year.”


Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: fred imbert, getty images, chris goodney, bloomberg, mark wilson
Keywords: news, cnbc, companies, vexing, slowdown, bank, doesnt, 11, dollar, growth, rising, added, economic, current, trump, hike, fed, 2019, jobs


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