Business
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First Republic stock tanks, UPS shares weaken, Spotify shares advance, and more stocks on the move
These stocks were making some of the most notable moves Tuesday amid a wave of earnings reports. Gainers Spotify Technology SA shares SPOT rose 5% as the music-streaming company beat subscriber expectations, though its loss was wider than anticipated. Verizon… Source
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Credit Suisse shelves purchase of Michael Klein’s investment firm as bank sees $68.7 billion in outflows
Credit Suisse and Michael Klein have ended an agreement for the Swiss bank to acquire boutique investment banking arm The Klein Group, LLC due to its planned takeover by UBS, according to a brief announcement within Credit Suisse’s first-quarter results on Monday. The deal, first announced in February, saw Credit Suisse set to acquire the…
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LVMH is first European company to hit a $500 billion market cap.
A record share price for LVMH FR:MC alongside a strengthening euro pushed the luxury goods company to a market capitalization of $500 billion on Monday, the first European company to reach that landmark. LVMH stock touched a fresh high of €904.60, valuing the group at €454.2 billion. With the euro EURUSD at one point edging…
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Tesla investors urge vote against former CTO J.B. Straubel, for board independence
An investor group on Monday urged fellow Tesla Inc. shareholders to vote against putting a former company executive on the board, saying the board already has a lack of independence and has been unable to rein in Chief Executive Elon Musk. Tesla TSLA has nominated former Chief Technology Officer J.B. Straubel to replace independent director…
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Even without an ‘earnings apocalypse,’ stocks still need to drop 15%, says strategist
Stocks got off to a cautious start on Monday, as investors face the who’s who of earnings this week. We’ve largely heard from the banks thus far and the news hasn’t been as bad as expected, but this week it’ll be the turn of the all-powerful tech sector, along with other important corners of the…
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AMC set to expand its branded popcorn sales to 2,600 Walmart stores
AMC Entertainment Holdings Inc. is set to sell its branded popcorn at 2,600 Walmart Inc. stores across the U.S. On Sunday AMC AMC CEO Adam Aron gave an update on the movie-theater chain and meme-stock darling’s push to sell its popcorn in grocery stores. AMC announced its partnership with Walmart WMT earlier this year, with the…
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Treasury yields slip to lowest levels in over a week ahead of busy week of earnings, economic news
Treasury rates fell to their lowest levels in more than a week on Monday as a mild risk-off mood boosted demand for most government paper ahead of key U.S. economic data later in the week.However, yields on 1- and 2-month Treasury bills jumped as traders positioned for the possibility of two more rate hikes by…
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Nasdaq Composite ends slightly lower ahead of tech-sector earnings onslaught
The Nasdaq Composite ended slightly lower as investors prepared for a busy week of earnings that will include results from megacap tech heavyweights, while the Dow Jones Industrial Average and S&P 500 eked out small gains. How stocks traded On Friday, stocks eked out tiny gains, but ended the week with small losses. The S&P…
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C3.ai faces three core risks to growth targets, analyst says in downgrade
C3.ai Inc. has been an investor darling this year as Wall Street has sought out plays on the artificial-intelligence craze, but one analyst thinks the stock’s big rally could cool. Wolfe Research analyst Joshua Tilton downgraded shares of the AI-software AI stock to underperform from peer perform over the weekend, following a nearly 80% year-to-date…
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‘I wouldn’t be successful at my job without her’: My friend cleans, cooks and cares for my child. I pay her $50 a day. Am I taking advantage of her?
I’m a working-from-home mom and my supervisors have no intentions of bringing me back to the office at this time. In order to actually get work done, I have pieced together childcare using the help of family and friends. I have one friend who has really gone above and beyond to adjust her own flexible…