‘Nobody knows’ if Putin sees a niche for himself after 2024, VTB’s Kostin says

Andrey Kostin, chief executive officer of VTB Bank PJSC,looks on during a panel session at the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 19, 2017. Constitutional reforms in Russia were a surprise to everybody and only President Vladimir Putin knows if he will carve out a niche for himself once his presidency ends in 2024, Andrey Kostin, president and chairman of Russia’s VTB Bank, told CNBC Tuesday. Russia saw extreme political upheaval last week with Putin announcing c


Andrey Kostin, chief executive officer of VTB Bank PJSC,looks on during a panel session at the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 19, 2017.
Constitutional reforms in Russia were a surprise to everybody and only President Vladimir Putin knows if he will carve out a niche for himself once his presidency ends in 2024, Andrey Kostin, president and chairman of Russia’s VTB Bank, told CNBC Tuesday.
Russia saw extreme political upheaval last week with Putin announcing c
‘Nobody knows’ if Putin sees a niche for himself after 2024, VTB’s Kostin says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: holly ellyatt
Keywords: news, cnbc, companies, niche, vtbs, kostin, sees, reforms, vtb, 2024, bank, state, russias, russia, putin, president, knows, powers


'Nobody knows' if Putin sees a niche for himself after 2024, VTB's Kostin says

Andrey Kostin, chief executive officer of VTB Bank PJSC,looks on during a panel session at the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 19, 2017.

Constitutional reforms in Russia were a surprise to everybody and only President Vladimir Putin knows if he will carve out a niche for himself once his presidency ends in 2024, Andrey Kostin, president and chairman of Russia’s VTB Bank, told CNBC Tuesday.

Russia saw extreme political upheaval last week with Putin announcing constitutional reforms that ostensibly increased the powers of Russia’s parliament and diminished those of future presidents.

The announcement led to the resignation of government — apparently in order to facilitate the reforms — and the installation of new Prime Minister Mikhail Mishustin (previously the head of the Federal Tax Service that he was widely praised for modernizing) after Dmitry Medvedev resigned.

A key part of the plans would beef up the powers of the State Council, a largely ceremonial advisory body led by Putin, leading Russia watchers to speculate that Putin is preparing to extend his influence over the country when his current presidential term ends in 2024.

But Kostin, who leads the majority state-owned bank which is the second largest lender in the country, said the reforms were “unexpected for everybody” and they did not necessarily mean more powers for the president.

“Presidential power in Russia is very big, it’s probably much bigger than in America as we see now, but I think to a certain extent those constitutional reforms will give more powers to other bodies rather than the president,” he said.

“Why was it done? Well, Putin explained that it was a next step in developing the Russian constitution and Russian state. Whether he sees any niche for himself (after 2024), nobody knows except him probably. It’s too early to say because he still has four years to serve.”


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: holly ellyatt
Keywords: news, cnbc, companies, niche, vtbs, kostin, sees, reforms, vtb, 2024, bank, state, russias, russia, putin, president, knows, powers


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Blackstone’s Steve Schwarzman sees ‘much fewer things’ to buy because assets are so expensive

Steve Schwarzman, billionaire co-founder of private equity powerhouse Blackstone, told CNBC on Tuesday he sees fewer buying opportunities because markets and assets have become so expensive. Schwarzman said the moves were partly justified by expectations for further economic growth as interest rates remain low. General Atlantic CEO Bill Ford, appearing on CNBC shortly after Schwarzman, agreed that valuations are getting lofty. In 2019, General Atlantic invested $4.5 billion in 31 new companies.


Steve Schwarzman, billionaire co-founder of private equity powerhouse Blackstone, told CNBC on Tuesday he sees fewer buying opportunities because markets and assets have become so expensive.
Schwarzman said the moves were partly justified by expectations for further economic growth as interest rates remain low.
General Atlantic CEO Bill Ford, appearing on CNBC shortly after Schwarzman, agreed that valuations are getting lofty.
In 2019, General Atlantic invested $4.5 billion in 31 new companies.

Blackstone’s Steve Schwarzman sees ‘much fewer things’ to buy because assets are so expensive Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, private, sees, buy, markets, company, steve, assets, equity, things, fewer, expensive, atlantic, general, economic, blackstones, schwarzman, valuations


Blackstone's Steve Schwarzman sees 'much fewer things' to buy because assets are so expensive

Steve Schwarzman, billionaire co-founder of private equity powerhouse Blackstone, told CNBC on Tuesday he sees fewer buying opportunities because markets and assets have become so expensive.

“All markets have gone up pretty dramatically,” the Blackstone chairman and CEO said on “Squawk Box” from the World Economic Forum in Davos, Switzerland.

Schwarzman said the moves were partly justified by expectations for further economic growth as interest rates remain low. But that’s led to higher purchase prices of assets.

“Everything is up. You have to see something reasonably remarkable in terms of your ability to improve the operations of a company,” he said.

General Atlantic CEO Bill Ford, appearing on CNBC shortly after Schwarzman, agreed that valuations are getting lofty. “The only way you can justify these valuations is company quality and company growth.”

In 2019, General Atlantic invested $4.5 billion in 31 new companies. General Atlantic is a private equity firm with about $35 billion in assets under management.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, private, sees, buy, markets, company, steve, assets, equity, things, fewer, expensive, atlantic, general, economic, blackstones, schwarzman, valuations


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Guggenheim’s Scott Minerd declares Trump winner over Fed on rates, sees market rally continuing

President Donald Trump’s early criticism of the Federal Reserve’s four 2018 interest rate hikes have proven right over time and the stock market loves it, Guggenheim Partners’ Scott Minerd told CNBC on Tuesday. “I think he was more concerned about slowing the economy in his administration.” However, Trump’s calls for lower rates proved prescient, Minerd argued, as the stock market plunged during the fall of 2018 and reached a nadir on Christmas Eve 2018. The rally should continue in throughout 2


President Donald Trump’s early criticism of the Federal Reserve’s four 2018 interest rate hikes have proven right over time and the stock market loves it, Guggenheim Partners’ Scott Minerd told CNBC on Tuesday.
“I think he was more concerned about slowing the economy in his administration.”
However, Trump’s calls for lower rates proved prescient, Minerd argued, as the stock market plunged during the fall of 2018 and reached a nadir on Christmas Eve 2018.
The rally should continue in throughout 2
Guggenheim’s Scott Minerd declares Trump winner over Fed on rates, sees market rally continuing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, stock, guggenheims, think, long, trumps, markets, sees, early, rally, winner, rates, fed, market, minerd, 2018, scott, trump


Guggenheim's Scott Minerd declares Trump winner over Fed on rates, sees market rally continuing

President Donald Trump’s early criticism of the Federal Reserve’s four 2018 interest rate hikes have proven right over time and the stock market loves it, Guggenheim Partners’ Scott Minerd told CNBC on Tuesday.

“I think he was [correct] in hindsight,” the money management firm’s global chief investment officer said in a “Squawk Box” interview from the World Economic Forum in Davos, Switzerland. “I think he was more concerned about slowing the economy in his administration.”

However, Trump’s calls for lower rates proved prescient, Minerd argued, as the stock market plunged during the fall of 2018 and reached a nadir on Christmas Eve 2018.

The Fed pivot early last year to take its foot off the gas and then cut rates three times fueled a nearly 29% rise in the S&P 500 in 2019, the best annual performance since 2013. Stock have also gotten off to a roaring start this year.

The rally should continue in throughout 2020, said Minerd, also a member of the New York Fed’s Investor Advisory Committee on Financial Markets. “Bull markets go as long as they go. As long as the central banks keep the liquidity spigots open, I don’t see any reason why we can’t just keep pushing asset prices higher.”


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: kevin stankiewicz
Keywords: news, cnbc, companies, stock, guggenheims, think, long, trumps, markets, sees, early, rally, winner, rates, fed, market, minerd, 2018, scott, trump


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Wall Street sees Amazon rejoining the trillion-dollar club later this year

The e-commerce giant currently has a market cap of $931 billion, but analysts on Wall Street are betting Amazon will be back in the club soon. Apple has a market value of $1.38 trillion, Microsoft has a market value of $1.27 trillion and the group’s newest member, Alphabet, has a market value around $1.0 trillion. There’s an exclusive club on Wall Street and it might let Amazon back in this year. This means analysts on Wall Street expect Amazon’s market value to reach about $1.08 trillion by yea


The e-commerce giant currently has a market cap of $931 billion, but analysts on Wall Street are betting Amazon will be back in the club soon.
Apple has a market value of $1.38 trillion, Microsoft has a market value of $1.27 trillion and the group’s newest member, Alphabet, has a market value around $1.0 trillion.
There’s an exclusive club on Wall Street and it might let Amazon back in this year.
This means analysts on Wall Street expect Amazon’s market value to reach about $1.08 trillion by yea
Wall Street sees Amazon rejoining the trillion-dollar club later this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, trilliondollar, rejoining, share, trillion, wall, later, sees, market, amazon, stock, value, price, street, club


Wall Street sees Amazon rejoining the trillion-dollar club later this year

Trailing closely behind is Jeff Bezos-led Amazon. The e-commerce giant currently has a market cap of $931 billion, but analysts on Wall Street are betting Amazon will be back in the club soon.

The so-called trillion-dollar club, which includes tech giants Apple , Microsoft and now Google-parent Alphabet , is the group of companies with a market value of $1 trillion or more. Apple has a market value of $1.38 trillion, Microsoft has a market value of $1.27 trillion and the group’s newest member, Alphabet, has a market value around $1.0 trillion.

There’s an exclusive club on Wall Street and it might let Amazon back in this year.

The average 12-month price target for Amazon is $2,188 per share, a 16.5% upside to its current share price, according to FactSet. This means analysts on Wall Street expect Amazon’s market value to reach about $1.08 trillion by year-end. (This projection does not account for share buybacks. Amazon’s market cap could come in a bit smaller if Amazon buys back its own stock, reducing share count.)

In September 2018, Amazon joined the trillion-dollar club for the first time, but has since lost some of its value because of heavy investments in last mile and 1-day delivery, grocery delivery and content for its streaming platform Amazon Prime Video.

“Amazon’s high-margin businesses continue to allow Amazon to drive greater profitability while still continuing to invest,” Morgan Stanley equity analyst Brian Nowak said in a note to clients on Thursday. Morgan Stanley raised its price target for Amazon to $2,200 per share from $2,100.

UBS hiked its price target for Amazon to $2,305 from $2,100 on Friday, more than 20% upside to Thursday’s closing price of $1,877 per share. UBS is bullish on Amazon’s investment in 1-Day Prime shipping, which will likely result in increased purchase frequency, the firm said.

But UBS said Amazon is the most hotly debated stock among investors after last quarter earnings showed a miss on Amazon’s cloud business’ sales, which could be a drag on future earnings as it has provided the bulk of Amazon’s operating income for the past four years.

Plus, Amazon has come under fire from politicians for its disruption of the retail industry. Despite the “break-up of big tech” threats for Washington, Wall Street remains bullish on the stock that has grown almost 3000% in the past two decades.

Amazon is almost universally loved on Wall Street. Of the 50 analysts that cover the stock, 47 recommend buying the stock, according to FactSet. Three analysts have a hold rating.

If Amazon tops $1 trillion, it is unlikely any tech giants will sneak into the club anytime soon. The next closest candidate is social media company Facebook, with a market value of $632.6 billion. Analysts, on average, see Facebook’s market value increasing in the next 12 months is to $697.1 billion, according to FactSet.

—with reporting CNBC’s Nate Rattner and Michael Bloom.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, trilliondollar, rejoining, share, trillion, wall, later, sees, market, amazon, stock, value, price, street, club


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Goldman Sachs is really bullish on Shake Shack, sees 80% rally because of exclusive GrubHub deal

Shake Shack’s exclusive partnership with GrubHub will ultimately be good for the fast food chain, according to Goldman Sachs, who sees the restaurant’s stock rallying 80% from here. Goldman Sachs, which has a buy rating on Shake Shack, has a price target of $115 per share, while the fast food company closed at $64.10 a share on Tuesday. Shares of Shake Shack tanked about 14% in November after its third quarter earnings showed disappointing same-store sales growth. Some analysts attribute the wea


Shake Shack’s exclusive partnership with GrubHub will ultimately be good for the fast food chain, according to Goldman Sachs, who sees the restaurant’s stock rallying 80% from here.
Goldman Sachs, which has a buy rating on Shake Shack, has a price target of $115 per share, while the fast food company closed at $64.10 a share on Tuesday.
Shares of Shake Shack tanked about 14% in November after its third quarter earnings showed disappointing same-store sales growth.
Some analysts attribute the wea
Goldman Sachs is really bullish on Shake Shack, sees 80% rally because of exclusive GrubHub deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, shake, goldman, rally, partnership, ultimately, share, exclusive, shack, positive, sees, really, sachs, deal, grubhub, sales


Goldman Sachs is really bullish on Shake Shack, sees 80% rally because of exclusive GrubHub deal

Shake Shack’s exclusive partnership with GrubHub will ultimately be good for the fast food chain, according to Goldman Sachs, who sees the restaurant’s stock rallying 80% from here.

Goldman Sachs, which has a buy rating on Shake Shack, has a price target of $115 per share, while the fast food company closed at $64.10 a share on Tuesday.

Management “commentary around the Grubhub migration was positive, as they indicated they completed the [positive] integration with GRUB,” Goldman Sachs analyst Katherine Fogertey said in a note to clients on Tuesday, citing its meeting with Shake Shack management.

Shares of Shake Shack tanked about 14% in November after its third quarter earnings showed disappointing same-store sales growth. Revenue was in-line with expectations, but same-store sales rose 2.0%, shy of the 2.5% growth analysts predicted. Some analysts attribute the weakness in comp sales to Shake Shack transitioning from four delivery partners, DoorDash, Postmates, Caviar and GrubHub, to just GrubHub in the third quarter. Goldman ultimately sees the exclusive partnership as a positive for Shake Shack.

“As part of the partnership, GRUB has provided SHAK with detailed customer data, as well as marketing resources such as loyalty and targeted promotions,” said Fogertey.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, shake, goldman, rally, partnership, ultimately, share, exclusive, shack, positive, sees, really, sachs, deal, grubhub, sales


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Blackstone’s Byron Wien sees 3 things keeping the stock market rally going in 2020

The S&P 500 at 3,500 would be 6.6% higher than Tuesday’s close. In his “Ten Surprises,” Wien wrote that volatility will increase and there will be “several market corrections greater than 5% throughout the year.” On “Squawk on the Street,” shortly before the U.S.-China signing of their initial trade deal, Wien said, “The phase one deal is without question a positive.” However, he said he does not expect a “phase two” deal before this year’s November presidential election. So far, about 30 compan


The S&P 500 at 3,500 would be 6.6% higher than Tuesday’s close.
In his “Ten Surprises,” Wien wrote that volatility will increase and there will be “several market corrections greater than 5% throughout the year.”
On “Squawk on the Street,” shortly before the U.S.-China signing of their initial trade deal, Wien said, “The phase one deal is without question a positive.”
However, he said he does not expect a “phase two” deal before this year’s November presidential election.
So far, about 30 compan
Blackstone’s Byron Wien sees 3 things keeping the stock market rally going in 2020 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, wien, week, surprises, market, byron, keeping, blackstones, trade, going, phase, companies, stock, deal, things, 500, rally, sees


Blackstone's Byron Wien sees 3 things keeping the stock market rally going in 2020

Blackstone Vice Chairman Byron Wien told CNBC on Wednesday that he believes the stock market will continue to rally this year with the support of three things — the “phase one” China trade deal, easing of U.S.-Iran hostilities and expectations for stronger corporate earnings.

The longtime market strategist said he’s sticking to his 3,500 year-end target for the S&P 500 that he put on his annual list of “Ten Surprises for 2020,” which was released last week. The S&P 500 at 3,500 would be 6.6% higher than Tuesday’s close.

In his “Ten Surprises,” Wien wrote that volatility will increase and there will be “several market corrections greater than 5% throughout the year.”

On “Squawk on the Street,” shortly before the U.S.-China signing of their initial trade deal, Wien said, “The phase one deal is without question a positive.”

However, he said he does not expect a “phase two” deal before this year’s November presidential election.

In the first-step agreement between the world’s two largest economies, China promises to purchase some $200 billion of American goods over two years and to make changes to its intellectual property and technology rules.

A deescalation of tensions between the U.S. and Iran is a second positive for Wall Street, Wien said. On Jan. 8, President Donald Trump’s statement that Iran “appears to be standing down,” after it had fired missiles at bases in Iraq housing U.S. troops, sent stocks higher. Tehran was retaliating for the U.S. killing of the top Iranian general at the Baghdad airport on Jan. 3.

As the third thing that traders are watching, Wien predicts that earnings being on track, or coming in better than expected, would boost the market.

So far, about 30 companies in the S&P 500 have released their quarterly results. And of those companies, 82% have posted better-than-expected profits, according to FactSet data. Among the companies beating profit estimates this week were J.P. Morgan Chase, Citigroup and Bank of America.

— CNBC’s Fred Imbert and Pippa Stevens contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, wien, week, surprises, market, byron, keeping, blackstones, trade, going, phase, companies, stock, deal, things, 500, rally, sees


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‘Very high’ chance of oil falling toward $40 if Iran sees regime change, says JBC Energy

Oil prices could plummet toward $40 per barrel if the Iranian regime collapses, according to the chairman of an energy research institute. “For the oil market, it would mean that the likelihood of oil prices dropping towards $40 is very high,” he said on Tuesday. “Remember Iran could easily add 1.5 million barrels within a shortest period of time. Maybe even 2 million barrels, and that’s a lot of oil,” he said. “Bear in mind we have right now 6 million barrels of oil on the sidelines, 2 million


Oil prices could plummet toward $40 per barrel if the Iranian regime collapses, according to the chairman of an energy research institute.
“For the oil market, it would mean that the likelihood of oil prices dropping towards $40 is very high,” he said on Tuesday.
“Remember Iran could easily add 1.5 million barrels within a shortest period of time.
Maybe even 2 million barrels, and that’s a lot of oil,” he said.
“Bear in mind we have right now 6 million barrels of oil on the sidelines, 2 million
‘Very high’ chance of oil falling toward $40 if Iran sees regime change, says JBC Energy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: abigail ng
Keywords: news, cnbc, companies, falling, chance, barrels, high, right, upside, prices, pressure, oil, think, energy, iran, jbc, regime, million, sees, change


'Very high' chance of oil falling toward $40 if Iran sees regime change, says JBC Energy

Iran’s economy has also been under immense pressure from U.S. sanctions that were reimposed after President Donald Trump withdrew from the 2015 nuclear deal.

Protesters reportedly chanted slogans including “they are lying that our enemy is America, our enemy is right here,” outside a university in Tehran.

Oil prices could plummet toward $40 per barrel if the Iranian regime collapses, according to the chairman of an energy research institute.

Former President Barack Obama’s national security advisor on Sunday said Iran is closer “than ever before” to a possible collapse in the regime.

“So you take the removal of (top Iranian commander Qasem Soleimani), you take the accidental downing of the civilian aircraft coupled with the amount of popular unrest — the needle towards possible collapse of a regime has to be something that people think about,” General James Jones told CNBC’s Hadley Gamble. “It’s probably not politically correct to talk about it, but you have to think about it.”

JBC Energy’s Benigni said a change in leadership in Tehran would have a major impact on energy prices.

“For the oil market, it would mean that the likelihood of oil prices dropping towards $40 is very high,” he said on Tuesday.

Brent crude traded around $64.23 on Tuesday afternoon in Asia.

“Remember Iran could easily add 1.5 million barrels within a shortest period of time. Maybe even 2 million barrels, and that’s a lot of oil,” he said.

On a larger scale, he said there isn’t much upside potential for Brent crude. “Bear in mind we have right now 6 million barrels of oil on the sidelines, 2 million of which coming from Iran.”

“If you have more pressure on Iran, you may reduce maybe 100, 200 thousand barrels going to China, but it’s not giving you much more upside potential. It’s only military confrontation that could do that,” he said.

— Reuters and CNBC’s Natasha Turak, Amanda Macias and Joanna Tan contributed to this report


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: abigail ng
Keywords: news, cnbc, companies, falling, chance, barrels, high, right, upside, prices, pressure, oil, think, energy, iran, jbc, regime, million, sees, change


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Ex-CIA officer sees Iran doing ‘hit-and-run’ cyberattacks — ‘They don’t want us to retaliate’

People burn a poster representing US President Donald Trump to protest against the killing of Iranian commander Qasem Soleimani in Iraq. A former CIA officer told CNBC on Thursday that it’s likely Iran will carry out small-scale cyberattacks to avoid U.S. retaliation. Additionally, several websites across the globe were hit with cyberattacks that defaced them with images and slogans supportive of Soleimani. Rather than attempt to hit highly secured agencies like the military or financial service


People burn a poster representing US President Donald Trump to protest against the killing of Iranian commander Qasem Soleimani in Iraq.
A former CIA officer told CNBC on Thursday that it’s likely Iran will carry out small-scale cyberattacks to avoid U.S. retaliation.
Additionally, several websites across the globe were hit with cyberattacks that defaced them with images and slogans supportive of Soleimani.
Rather than attempt to hit highly secured agencies like the military or financial service
Ex-CIA officer sees Iran doing ‘hit-and-run’ cyberattacks — ‘They don’t want us to retaliate’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, iranian, hitandrun, cyberattacks, hit, trump, flynn, soleimani, iran, hackers, likely, websites, attacks, sees, doing, retaliate, dont, officer, excia


Ex-CIA officer sees Iran doing 'hit-and-run' cyberattacks — 'They don't want us to retaliate'

People burn a poster representing US President Donald Trump to protest against the killing of Iranian commander Qasem Soleimani in Iraq.

A former CIA officer told CNBC on Thursday that it’s likely Iran will carry out small-scale cyberattacks to avoid U.S. retaliation.

“They perfectly understand that the U.S. is very powerful and isn’t going to tolerate a catastrophic attack,” said Carol Rollie Flynn, former executive director of the CIA Counterterrorism Center.

“More likely are hit-and-run sorts of attacks,” she added in a “Squawk Box” interview.

U.S. officials are preparing for a potential onslaught of attacks from Iranian hackers after last week’s U.S. airstrike killed Iran’s top military leader, Qasem Soleimani, at Baghdad’s airport.

Some groups — including the Foreign Policy Research Institute think tank, of which Flynn is president — have already been hit by what she describes as a “probably Iranian disinformation campaign.”

Additionally, several websites across the globe were hit with cyberattacks that defaced them with images and slogans supportive of Soleimani. The hacked websites displayed images of a fist-punching Trump among other anti-American rhetoric. Victims included the U.S. Federal Depository Library Program and the Commercial Bank of Sierra Leone.

However, through a statement, the Department of Homeland Security expressed doubt these attacks were actually state-sponsored by Iran.

Rather than attempt to hit highly secured agencies like the military or financial services, Flynn said it’s likely Iranian hackers will continue deceptive practices on “lesser targets.”

“They have capabilities probably ready to go,” she said.

At the same time, she said, “They don’t want us to retaliate against them. They have felt that before.”

Iran has carried out cyberattacks on the U.S. before. And while it’s not at the scale that Russia or China is, its capabilities still have grown over the past decade, Flynn said.

Between 2012 and 2013, Iranian hackers carried out a series of attacks on the largest U.S. financial institutions including Bank of America and Citigroup. Las Vegas Sands was attacked in 2014 over owner Sheldon Adelson’s support for Israel and calls for attacks on Iran.

The current attacks come as businesses have never spent more on cybersecurity, with their spending estimated to have reached $124 billion in the fourth quarter alone.

“Smart businesses should have good governance policies and procedures that their employees are well versed in,” Flynn said.

— CNBC’s Kate Fazzini and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, iranian, hitandrun, cyberattacks, hit, trump, flynn, soleimani, iran, hackers, likely, websites, attacks, sees, doing, retaliate, dont, officer, excia


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Here’s why Jefferies upgraded Snap to a buy

Here’s why Jefferies upgraded Snap to a buyBrent Thill of Jefferies joins “Squawk Alley” to discuss why he sees Snap as a buy.


Here’s why Jefferies upgraded Snap to a buyBrent Thill of Jefferies joins “Squawk Alley” to discuss why he sees Snap as a buy.
Here’s why Jefferies upgraded Snap to a buy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-09
Keywords: news, cnbc, companies, joins, upgraded, buy, thill, sees, snap, squawk, discuss, jefferies, buybrent, heres


Here's why Jefferies upgraded Snap to a buy

Here’s why Jefferies upgraded Snap to a buy

Brent Thill of Jefferies joins “Squawk Alley” to discuss why he sees Snap as a buy.


Company: cnbc, Activity: cnbc, Date: 2020-01-09
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Analyst sees ‘bull case’ of $400 for Apple, citing 5g ‘super cycle’

In fact, the Wedbush analyst said 2019 was just the beginning phase of a “transformational 5G super cycle,” while the demand for iPhone 11 has been stronger than expected. Ives now sees a “bull case” of $400 for Apple’s stock by year-end, a nearly 35% climb from here. Of an estimate of 925 million iPhones worldwide, roughly 350 million of them are in the “window of an upgrade opportunity” into 5G and new models, he said. “We believe Cupertino has a unique opportunity to capture this super cycle


In fact, the Wedbush analyst said 2019 was just the beginning phase of a “transformational 5G super cycle,” while the demand for iPhone 11 has been stronger than expected.
Ives now sees a “bull case” of $400 for Apple’s stock by year-end, a nearly 35% climb from here.
Of an estimate of 925 million iPhones worldwide, roughly 350 million of them are in the “window of an upgrade opportunity” into 5G and new models, he said.
“We believe Cupertino has a unique opportunity to capture this super cycle
Analyst sees ‘bull case’ of $400 for Apple, citing 5g ‘super cycle’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: yun li
Keywords: news, cnbc, companies, case, bull, sees, citing, 400, upgrade, cycle, opportunity, iphone, apple, ives, super, analyst, 2019


Analyst sees 'bull case' of $400 for Apple, citing 5g 'super cycle'

Apple CEO Tim Cook gestures after opening the newly renovated Apple Store at Fifth Avenue on September 20, 2019 in New York City.

Is Apple due for a pullback after its nearly 90% surge last year? Longtime technology analyst Dan Ives doesn’t believe so.

In fact, the Wedbush analyst said 2019 was just the beginning phase of a “transformational 5G super cycle,” while the demand for iPhone 11 has been stronger than expected. Ives now sees a “bull case” of $400 for Apple’s stock by year-end, a nearly 35% climb from here.

“IPhone 11 strength appears to have legs both in the US and China as installed base demand continues to look healthy into the March/June quarters with the drumroll into the highly anticipated 5G upgrade cycle in September,” Ives said.

Shares of Apple rallied a whopping 86% in 2019, posting their best year since 2009 and single-handedly contributing more than 8% of the S&P 500’s total returns in the year. Ives is the biggest Apple bull on Wall Street with the highest price target of $350 among 44 analysts covering the stock, according to FactSet.

Of an estimate of 925 million iPhones worldwide, roughly 350 million of them are in the “window of an upgrade opportunity” into 5G and new models, he said.

“We believe Cupertino has a unique opportunity to capture this super cycle opportunity with a major 5G cycle on the horizon,” Ives said. “There are at least 5 iPhone versions that will launch in 2020 with the main event the 5G launch in September that could include a number of versions/models.”

Wedbush’s recent checks revealed the iPhone 11 units for the holiday season was “robust” and there was an “eye popping” AirPods performance, Ives said.

The analyst also predicted Apple’s services business to reach $500 billion to $650 billion, becoming a key revenue stream for the tech giant.

Shares of Apple dipped 1% in premarket trading on Monday to $94.50 as the broad market fell amid escalating U.S.-Iran tensions.


Company: cnbc, Activity: cnbc, Date: 2020-01-06  Authors: yun li
Keywords: news, cnbc, companies, case, bull, sees, citing, 400, upgrade, cycle, opportunity, iphone, apple, ives, super, analyst, 2019


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