Marketing services deals reached $33 billion in 2018, tech companies lead

Mergers and acquisitions (M&A) in the marketing world reached $33 billion in 2018, an increase of 144 percent on the previous year, according to consultancy R3. Tech businesses including Salesforce and Alibaba spent a total of $7.8 billion in 2018, a huge increase on the $632 million spent in 2017. Alibaba acquired a 6.62 percent stake in digital screen company Focus Media for $1.43 billion last July, as part of its exploration of “new models of digital marketing.” Agency holding companies inclu


Mergers and acquisitions (M&A) in the marketing world reached $33 billion in 2018, an increase of 144 percent on the previous year, according to consultancy R3. Tech businesses including Salesforce and Alibaba spent a total of $7.8 billion in 2018, a huge increase on the $632 million spent in 2017. Alibaba acquired a 6.62 percent stake in digital screen company Focus Media for $1.43 billion last July, as part of its exploration of “new models of digital marketing.” Agency holding companies inclu
Marketing services deals reached $33 billion in 2018, tech companies lead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: lucy handley, christina farr
Keywords: news, cnbc, companies, spent, ipg, services, tech, companies, 33, billion, including, ma, marketing, increase, reached, deals, lead, previous, 2018


Marketing services deals reached $33 billion in 2018, tech companies lead

Mergers and acquisitions (M&A) in the marketing world reached $33 billion in 2018, an increase of 144 percent on the previous year, according to consultancy R3.

Technology companies rather than agency holding groups were the biggest spenders last year, with Adobe’s $4.75 billion acquisition of software firm Marketo being the largest in R3’s December M&A league table.

Tech businesses including Salesforce and Alibaba spent a total of $7.8 billion in 2018, a huge increase on the $632 million spent in 2017. Alibaba acquired a 6.62 percent stake in digital screen company Focus Media for $1.43 billion last July, as part of its exploration of “new models of digital marketing.”

Agency holding companies including McCann owner IPG and Japanese group Dentsu spent $6.3 billion on deals in 2018, up from $2.7 billion the previous year. These groups also acquired tech companies, with IPG spending $2.3 billion on data mining firm Acxiom in July, in a move that IPG CEO Michael Roth said would help the business provide more personalized and targeted marketing.


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: lucy handley, christina farr
Keywords: news, cnbc, companies, spent, ipg, services, tech, companies, 33, billion, including, ma, marketing, increase, reached, deals, lead, previous, 2018


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Top business authors share their greatest leadership advice

James Kouzes and Barry Posner’s 1987 hit book “The Leadership Challenge” continues to receive critical acclaim from business chiefs for its guidance on what the authors describe as the “five practices of exemplary leadership.” But, said Kouzes and Posner in an email to CNBC Make It, the underlying rule of leadership is even simpler: self-belief. “Before you can lead others, you have to lead yourself. You have to believe that your words can inspire and your actions can move people. Leadership beg


James Kouzes and Barry Posner’s 1987 hit book “The Leadership Challenge” continues to receive critical acclaim from business chiefs for its guidance on what the authors describe as the “five practices of exemplary leadership.” But, said Kouzes and Posner in an email to CNBC Make It, the underlying rule of leadership is even simpler: self-belief. “Before you can lead others, you have to lead yourself. You have to believe that your words can inspire and your actions can move people. Leadership beg
Top business authors share their greatest leadership advice Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: karen gilchrist, m_a_y_a
Keywords: news, cnbc, companies, lead, believe, leadership, words, challenge, assumption, advice, wrotebefore, share, inspire, greatest, business, kouzes, way, authors


Top business authors share their greatest leadership advice

James Kouzes and Barry Posner’s 1987 hit book “The Leadership Challenge” continues to receive critical acclaim from business chiefs for its guidance on what the authors describe as the “five practices of exemplary leadership.”

Based on tens of thousands of interviews over a period of more than three decades, the pair identified those as the ability to: model the way; inspire a shared vision; challenge the process; enable others to act; and show sincerity.

But, said Kouzes and Posner in an email to CNBC Make It, the underlying rule of leadership is even simpler: self-belief.

“Everything you will ever do as a leader is based on one audacious assumption. It’s the assumption that you matter,” they wrote.

“Before you can lead others, you have to lead yourself. You have to believe that your words can inspire and your actions can move people. You have to believe that what you do counts for something. Leadership begins with you.”


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: karen gilchrist, m_a_y_a
Keywords: news, cnbc, companies, lead, believe, leadership, words, challenge, assumption, advice, wrotebefore, share, inspire, greatest, business, kouzes, way, authors


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Asia markets close higher, Greater China shares lead gains

Asian stocks closed higher on Thursday, with shares in Greater China leading gains after the positive momentum seen on Wall Street overnight. Greater China markets initially opened mixed, but staged a comeback to lead the rest of Asia. The Shanghai composite ended the trading session at 1.23 percent higher at 2,634.0491 points, while the Shenzhen composite closed 1.106 percent higher at 1,360.9222 points. In Japan, the Nikkei 225 rose 0.99 percent to close at 21,816.19 points and the Topix index


Asian stocks closed higher on Thursday, with shares in Greater China leading gains after the positive momentum seen on Wall Street overnight. Greater China markets initially opened mixed, but staged a comeback to lead the rest of Asia. The Shanghai composite ended the trading session at 1.23 percent higher at 2,634.0491 points, while the Shenzhen composite closed 1.106 percent higher at 1,360.9222 points. In Japan, the Nikkei 225 rose 0.99 percent to close at 21,816.19 points and the Topix index
Asia markets close higher, Greater China shares lead gains Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: yen nee lee
Keywords: news, cnbc, companies, stocks, lead, gains, ended, higher, china, shares, session, asia, index, markets, greater, points, trading, close


Asia markets close higher, Greater China shares lead gains

Asian stocks closed higher on Thursday, with shares in Greater China leading gains after the positive momentum seen on Wall Street overnight.

“Calm has finally returned to markets,” analysts at Mizuho Bank wrote in a note. Trading in markets globally was volatile at the start of the week, but stabilized after news reports in recent days indicated an easing in tensions between the U.S. and China.

Greater China markets initially opened mixed, but staged a comeback to lead the rest of Asia. The Shanghai composite ended the trading session at 1.23 percent higher at 2,634.0491 points, while the Shenzhen composite closed 1.106 percent higher at 1,360.9222 points. Hong Kong’s Hang Seng Index gained 1.18 percent to end at 26,495.67 points.

In Japan, the Nikkei 225 rose 0.99 percent to close at 21,816.19 points and the Topix index ended 0.62 percent higher at 1,616.65 points. Over in South Korea, the Kospi inched up 0.62 percent to 2,095.55 points at the close.

Australian stocks, meanwhile, saw relatively modest gains. The ASX 200 index ended the session at 5,661.6 points — up 0.14 percent.

There were big moves in the Australia market. Shares of Hutchison Telecommunications plunged 21.43 percent at the close, while TPG Telecom fell by 16.67 percent. The two companies announced plans to merge in August this year, but the Australian Competition and Consumer Commission on Thursday released a statement expressing concerns about the proposal.


Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: yen nee lee
Keywords: news, cnbc, companies, stocks, lead, gains, ended, higher, china, shares, session, asia, index, markets, greater, points, trading, close


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Trump’s trade talks with China are back on — but it’s not clear who will lead them

As the Trump administration sets out to strike a trade deal with China, confusion surrounds the role one of the president’s more hawkish advisors will play in the talks. The prominence U.S. Trade Representative Robert Lighthizer has in the negotiations could help to determine whether the White House takes a more aggressive or conciliatory approach to China. Lighthizer also backed the tariffs on Chinese imports that the White House deployed as it pushed Beijing to address alleged trade abuses. An


As the Trump administration sets out to strike a trade deal with China, confusion surrounds the role one of the president’s more hawkish advisors will play in the talks. The prominence U.S. Trade Representative Robert Lighthizer has in the negotiations could help to determine whether the White House takes a more aggressive or conciliatory approach to China. Lighthizer also backed the tariffs on Chinese imports that the White House deployed as it pushed Beijing to address alleged trade abuses. An
Trump’s trade talks with China are back on — but it’s not clear who will lead them Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: jacob pramuk, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, trade, trump, negotiations, mnuchin, lighthizer, house, clear, kudlow, lead, talks, trumps, white, china


Trump's trade talks with China are back on — but it's not clear who will lead them

As the Trump administration sets out to strike a trade deal with China, confusion surrounds the role one of the president’s more hawkish advisors will play in the talks.

The prominence U.S. Trade Representative Robert Lighthizer has in the negotiations could help to determine whether the White House takes a more aggressive or conciliatory approach to China. Top Trump economic advisor Larry Kudlow told reporters Monday that the 90-day timetable will start Jan. 1, but the White House later issued a correction saying the timetable starts Dec. 1. They agreed to a trade war truce on Saturday at the G-20 meeting in Argentina.

Lighthizer, a 71-year-old who joined the Trump administration after decades as an international trade lawyer, leads the agency charged with creating trade deals and resolving disputes. He headed arduous talks with Canadian and Mexican officials that led to a revised North American free trade agreement. Lighthizer also backed the tariffs on Chinese imports that the White House deployed as it pushed Beijing to address alleged trade abuses.

Earlier Monday, confusion reigned as details about the meeting between President Donald Trump and Chinese President Xi Jinping, and how any agreement would be managed, dribbled out. China had no such problem. Vice Premier Liu He has headed the talks for Beijing’s side during the Trump administration.

Another Trump trade advisor Peter Navarro — a hard-liner who advocates a harsh approach to trade policy with China — said Lighthizer would lead negotiations. But Treasury Secretary Steven Mnuchin and National Economic Council Director Larry Kudlow both quashed the idea of a nominal leader, instead casting the negotiations as a group effort led by Trump himself.

However, Kudlow said later Monday that Lighthizer would “take the lead on the negotiations and on the enforcement part” while Mnuchin handles currency manipulation and other topics.

Regardless of whether the trade representative heads the talks, the public contradictions over his role once again reflect the disparate elements of Trump’s economic team.

The more free trade wing in Mnuchin and Kudlow is often at odds with the protectionist elements represented by Lighthizer and Navarro.

While Trump appears conciliatory now, his outlook could change when the next round of talks plays out — and that could affect whether he decides to reignite the trade war with increased tariff rates or new duties.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: jacob pramuk, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, trade, trump, negotiations, mnuchin, lighthizer, house, clear, kudlow, lead, talks, trumps, white, china


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Major Wall Street economists have their doubts trade cease-fire will lead to actual deal in 90 days

“While the Xi-Trump dinner has clearly improved the tone of the U.S.-China relationship for the time being, and we would expect an initial positive market reaction, the ‘pause’ prolongs the period of uncertainty around the eventual structure of trade relations between the two countries,” Phillips wrote. “The specter of higher and broader U.S. tariffs remains, and the underlying issues clouding the trade relationship are deferred to further negotiations.” Xi and Trump agreed over the weekend to h


“While the Xi-Trump dinner has clearly improved the tone of the U.S.-China relationship for the time being, and we would expect an initial positive market reaction, the ‘pause’ prolongs the period of uncertainty around the eventual structure of trade relations between the two countries,” Phillips wrote. “The specter of higher and broader U.S. tariffs remains, and the underlying issues clouding the trade relationship are deferred to further negotiations.” Xi and Trump agreed over the weekend to h
Major Wall Street economists have their doubts trade cease-fire will lead to actual deal in 90 days Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: thomas franck, jim watson, afp, getty images
Keywords: news, cnbc, companies, issues, tariffs, days, economists, deal, trade, think, relationship, dinner, wall, street, additional, doubts, countries, xitrump, lead, major, ceasefire, higher


Major Wall Street economists have their doubts trade cease-fire will lead to actual deal in 90 days

“While the Xi-Trump dinner has clearly improved the tone of the U.S.-China relationship for the time being, and we would expect an initial positive market reaction, the ‘pause’ prolongs the period of uncertainty around the eventual structure of trade relations between the two countries,” Phillips wrote. “The specter of higher and broader U.S. tariffs remains, and the underlying issues clouding the trade relationship are deferred to further negotiations.”

“With additional time to pursue negotiations, we think the chance of a comprehensive deal that involves rollback of tariffs is slightly higher than before, but still not our base case — perhaps a 20 percent probability over the next three months,” the economist wrote.

Xi and Trump agreed over the weekend to hold off on slapping additional tariffs on each other’s goods until March 1, as trade deliberations continue between both countries. In a White House readout of a dinner at the G-20 summit in Argentina, the two world leaders discussed a host of issues, including sanctions on $200 billion worth of Chinese imports to the U.S.

Here’s a summary of what Wall Street’s economists think of the temporary trade cease-fire.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: thomas franck, jim watson, afp, getty images
Keywords: news, cnbc, companies, issues, tariffs, days, economists, deal, trade, think, relationship, dinner, wall, street, additional, doubts, countries, xitrump, lead, major, ceasefire, higher


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Kids and screen time: What’s Healthy?

How much is too much when it comes to screen time for kids? Jon Fortt sits down with three experts to discuss, including NPR’s lead education blogger Anya Kamenetz; social media influencer and author Katherine Ormerod; and child and adolescent psychologist Dr. Richard Freed.


How much is too much when it comes to screen time for kids? Jon Fortt sits down with three experts to discuss, including NPR’s lead education blogger Anya Kamenetz; social media influencer and author Katherine Ormerod; and child and adolescent psychologist Dr. Richard Freed.
Kids and screen time: What’s Healthy? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: jonathan kim, jon fortt
Keywords: news, cnbc, companies, social, psychologist, ormerod, nprs, kidsjon, richard, kids, healthy, media, whats, lead, sits, screen


Kids and screen time: What's Healthy?

How much is too much when it comes to screen time for kids?

Jon Fortt sits down with three experts to discuss, including NPR’s lead education blogger Anya Kamenetz; social media influencer and author Katherine Ormerod; and child and adolescent psychologist Dr. Richard Freed.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: jonathan kim, jon fortt
Keywords: news, cnbc, companies, social, psychologist, ormerod, nprs, kidsjon, richard, kids, healthy, media, whats, lead, sits, screen


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Trump-Xi trade talks could spark ‘explosion’ higher for stocks like Apple – or lead to a bear market

“While the U.S. market hopefully will benefit, especially the industrial stocks, it’s goods producing stocks that should benefit the most. China reported factory activity slowed in November to a two-year low. Analysts see a range of outcomes this weekend — the trigger for either an “explosion to the upside” or a “bear market.” It could also determine whether the stock market ends the year higher or in the red. The worst case would be if talks broke down altogether, an outcome considered highly u


“While the U.S. market hopefully will benefit, especially the industrial stocks, it’s goods producing stocks that should benefit the most. China reported factory activity slowed in November to a two-year low. Analysts see a range of outcomes this weekend — the trigger for either an “explosion to the upside” or a “bear market.” It could also determine whether the stock market ends the year higher or in the red. The worst case would be if talks broke down altogether, an outcome considered highly u
Trump-Xi trade talks could spark ‘explosion’ higher for stocks like Apple – or lead to a bear market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: patti domm, jim watson, afp, getty images
Keywords: news, cnbc, companies, explosion, bear, talks, tariffs, china, stocks, stock, relief, reported, market, benefit, trade, lead, higher, trumpxi, spark, think


Trump-Xi trade talks could spark 'explosion' higher for stocks like Apple – or lead to a bear market

“While the U.S. market hopefully will benefit, especially the industrial stocks, it’s goods producing stocks that should benefit the most. That would be Apple, specifically,” Boockvar said. “But I think there’s a potential for overseas markets to benefit most since their economies have softened with these tariffs.”

Earlier Friday, there was more negative news for the economy in China, where Shanghai stocks are down about 22 percent year-to-date. China reported factory activity slowed in November to a two-year low. Manufacturing PMI was reported at 50, considered neutral, while a number below 50 shows contraction.

Analysts see a range of outcomes this weekend — the trigger for either an “explosion to the upside” or a “bear market.” It could also determine whether the stock market ends the year higher or in the red.

Boockvar said even if there is a truce that holds off on further tariffs, the existing ones would continue to blur the outlook for corporate earnings and influence the global economy. Economists have forecast growth for the U.S. at about 2.4 percent for 2019, down from 2018’s roughly 3 percent pace because of the bite from tariffs and Federal Reserve interest rate hikes. The U.S. currently has 10 percent tariffs in place on $200 billion of Chinese imports.

“It’s not like we’re getting relief. We’d just be getting relief that it’s not intensifying. China is still slowing regardless of what happens,” said Boocvkar. Analysts have been ratcheting down expectations for earnings growth for next year, to single-digit levels, in part because tariffs are raising production costs.

Some analysts see a different scenario in which the two sides plan further talks without halting a plan to increase the China tariffs to 25 percent in January. Strategas puts that as the most likely outcome, with 40 percent odds.

The worst case would be if talks broke down altogether, an outcome considered highly unlikely but potentially a very negative event for the stock market.

“We would see a rotation back into the defensive consumer staples, health care, utilities, the flight-to-safety type of investments, and then I think we’d have additional worries that maybe this correction becomes deeper or becomes a bear market,” said Sam Stovall, chief investment strategist at CFRA.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: patti domm, jim watson, afp, getty images
Keywords: news, cnbc, companies, explosion, bear, talks, tariffs, china, stocks, stock, relief, reported, market, benefit, trade, lead, higher, trumpxi, spark, think


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Cramer’s Exec Cut: Lead time is key to handling tariff changes

Cramer’s Exec Cut: Lead time is key to handling tariff changes15 Hours AgoJim Cramer gets insight ahead of the G-20 Summit on how retailers like PVH Corp. and Dollar Tree are preparing for higher tariffs.


Cramer’s Exec Cut: Lead time is key to handling tariff changes15 Hours AgoJim Cramer gets insight ahead of the G-20 Summit on how retailers like PVH Corp. and Dollar Tree are preparing for higher tariffs.
Cramer’s Exec Cut: Lead time is key to handling tariff changes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30
Keywords: news, cnbc, companies, key, cut, changes, handling, retailers, summit, lead, pvh, exec, tariff, insight, tree, cramers, preparing, tariffs


Cramer’s Exec Cut: Lead time is key to handling tariff changes

Cramer’s Exec Cut: Lead time is key to handling tariff changes

15 Hours Ago

Jim Cramer gets insight ahead of the G-20 Summit on how retailers like PVH Corp. and Dollar Tree are preparing for higher tariffs.


Company: cnbc, Activity: cnbc, Date: 2018-11-30
Keywords: news, cnbc, companies, key, cut, changes, handling, retailers, summit, lead, pvh, exec, tariff, insight, tree, cramers, preparing, tariffs


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Harvard Crimson appointing this student as its editor is a big deal

For the first time in The Harvard Crimson’s 145-year history, a black female editor will lead the esteemed student paper. Guillaume will also be the third black president to lead the organization since its founding in 1873. At Harvard, Guillaume has covered topics like immigration, diversity and leadership at the ivy league institution. While The Crimson has historically been predominantly white and male, minority underrepresentation is a widespread issue throughout the news sector. When Guillau


For the first time in The Harvard Crimson’s 145-year history, a black female editor will lead the esteemed student paper. Guillaume will also be the third black president to lead the organization since its founding in 1873. At Harvard, Guillaume has covered topics like immigration, diversity and leadership at the ivy league institution. While The Crimson has historically been predominantly white and male, minority underrepresentation is a widespread issue throughout the news sector. When Guillau
Harvard Crimson appointing this student as its editor is a big deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: ruth umoh, boston globe
Keywords: news, cnbc, companies, president, women, editor, appointing, student, paper, harvard, guillaume, big, black, leadership, crimson, editors, lead, deal


Harvard Crimson appointing this student as its editor is a big deal

For the first time in The Harvard Crimson’s 145-year history, a black female editor will lead the esteemed student paper. As former editors have gone on to become the CEO of top companies and even president of the United States, the move could mark an important shift in the opportunities available to a new generation of leaders.

Come 2019, 20-year-old Kristine Guillaume will take the helm of Harvard’s student-run newspaper. Guillaume will also be the third black president to lead the organization since its founding in 1873.

To be sure, Harvard is one of the top colleges in the country. But The Crimson is its own leadership proving ground. Past editors and writers include former presidents John F. Kennedy and Franklin D. Roosevelt, former Microsoft chief executive Steve Ballmer and CNN president Jeff Zucker.

Guillaume was appointed to this role after promising to guide the paper, which has struggled with diversity, “toward a more diverse, digital future,” the New York Times reports.

“If my being elected to The Crimson presidency as the first black woman affirms anyone’s sense of belonging at Harvard,” she says, “then that will continue to affirm the work that I’m doing.”

Born to immigrant, physician parents of Haitian and Chinese descent, Guillaume says that she developed an interest in journalism while growing up in Queens. On Sundays, Guillaume’s father would take her and her younger sister to a diner and ask them to read Times’ columns by David Brooks and Paul Krugman.

“Both of my parents have a strong emphasis on education and knowing what’s going on in the world around us,” says Guillaume, a junior majoring in literature, history and African-American studies.

Citing social and political journalist Ta-Nehisi Coates as a role model, she plans to pursue a doctorate in African-American studies and a career in academia, while writing on the side. At Harvard, Guillaume has covered topics like immigration, diversity and leadership at the ivy league institution.

While The Crimson has historically been predominantly white and male, minority underrepresentation is a widespread issue throughout the news sector. People of color made up just 22.2 percent of employees of daily newspapers in 2018, according to a recent American Society of Newspaper Editors survey. Of all newsroom managers, 19 percent were minorities. This lack of representation carries major repercussions for media outlets, as they struggle to regain trust among the people that they cover.

Across all industries, people of color comprise a small percentage of leadership positions, particularly in the C-suite. Indra Nooyi’s October departure as PepsiCo CEO left just a handful of minority women running Fortune 500 companies and there are currently zero African American women at the top.

Nearly 40 of Guillaume’s colleagues voted on who they’d elect to The Crimson’s most senior leadership position earlier this year, during a months-long process known as the “Turkey Shoot.”

When Guillaume received the call that she had been selected to lead the paper, she recalls screaming into the phone. “It was a very, very shrill scream,” she says.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: ruth umoh, boston globe
Keywords: news, cnbc, companies, president, women, editor, appointing, student, paper, harvard, guillaume, big, black, leadership, crimson, editors, lead, deal


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Alphabet, Nvidia lead bounce in tech stocks after investors fled the sector last week

Technology stocks jumped in early trading Monday, scratching back after nearly two months of losses. Four of the five FAANG stocks – Facebook, Amazon, Apple, Netflix and Google-parent Alphabet – rose more than 1 percent in trading. Overall, tech stocks have taken a beating since the beginning of October. The FAANG stocks fell into a bear marketlast week, each declining more than 20 percent from recent highs. Since their respective 52-week highs, the FAANG stocks had also lost more than $1 trilli


Technology stocks jumped in early trading Monday, scratching back after nearly two months of losses. Four of the five FAANG stocks – Facebook, Amazon, Apple, Netflix and Google-parent Alphabet – rose more than 1 percent in trading. Overall, tech stocks have taken a beating since the beginning of October. The FAANG stocks fell into a bear marketlast week, each declining more than 20 percent from recent highs. Since their respective 52-week highs, the FAANG stocks had also lost more than $1 trilli
Alphabet, Nvidia lead bounce in tech stocks after investors fled the sector last week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: michael sheetz
Keywords: news, cnbc, companies, week, investors, highs, nearly, stocks, bounce, nvidia, trading, tech, sector, fled, technology, qqq, alphabet, faang, lead


Alphabet, Nvidia lead bounce in tech stocks after investors fled the sector last week

Technology stocks jumped in early trading Monday, scratching back after nearly two months of losses. Nvidia and Alphabet led gains.

Four of the five FAANG stocks – Facebook, Amazon, Apple, Netflix and Google-parent Alphabet – rose more than 1 percent in trading. Apple was the only laggard of the group, down 0.4 percent and well off highs hit early in the day. Nvidia also climbed 3.9 percent, after Credit Suisse gave the chipmaker an outperform rating.

Credit Suisse said Nvidia’s stock getting slashed nearly in half over the last eight weeks provides “an extremely compelling entry point.” The latest earnings report “was disappointing,” the firm said, and Nvidia “will like take time” to turn around. Nvidia “could be significant underestimating the opportunity” from new markets.

Investors fled equities last week, with the widely held and tech heavy Invesco QQQ seeing more than $1 billion in outflows, according to Jefferies. Nearly half of the QQQ outflows were in technology shares, not including other technology-related names like Amazon. The QQQ jumped 2 percent Monday morning.

Overall, tech stocks have taken a beating since the beginning of October. The FAANG stocks fell into a bear marketlast week, each declining more than 20 percent from recent highs. Since their respective 52-week highs, the FAANG stocks had also lost more than $1 trillion in market valueby Tuesday.


Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: michael sheetz
Keywords: news, cnbc, companies, week, investors, highs, nearly, stocks, bounce, nvidia, trading, tech, sector, fled, technology, qqq, alphabet, faang, lead


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