Dropbox fell as much as 10 percent during Friday’s open after its announcement on Thursday that chief operating officer, Dennis Woodside, will be stepping down in September. The cloud services company reported strong second-quarter earnings after the bell on Thursday, beating Wall Street expectations on revenue and earnings per share. But investors seem to be
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The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Intel Karen Finerman was a buyer of Lowe’s Dan Nathan was a buyer of Twitter Guy Adami was a buyer of Ralph Lauren Trader disclosure: On August 9, 2018 the following stocks and commodities mentioned or intended
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Oppenheimer downgraded its rating of Tiffany shares to “perform” from “outperform” on Friday, saying “recent shifts in global currencies could weigh upon domestic sales to foreign tourists” for the luxury retailer. The firm pointed to a chart comparing the Chinese yuan to Tiffany’s sales in the U.S., saying the “devaluation of Chinese currencies could impact
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Intel’s chip manufacturing technology issues are a big problem, according to Goldman Sachs. The firm lowered its rating to sell from neutral for Intel shares, citing its repeated delays in moving to its next generation chip process technology. “We see Intel’s struggles with 10nm process technology having ramifications in terms of its competitive position –
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News Corp topped Wall Street profit targets on Thursday, as it benefited from gains at its newly acquired TV network and recorded double-digit growth in its real-estate listings and book publishing businesses. News Corp’s subscription video services division that includes Australian pay TV company Foxtel — acquired by Rupert Murdoch-controlled News Corp earlier this year
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Check out the companies making headlines after the bell: Tesla‘s stock rose more than 3 percent during after-hours trading after a CNBC report that the Tesla board plans to tell Elon Musk to recuse himself from a board review of his proposal to take the company private. Sources familiar with the matter said the electric
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Dropbox said on Thursday that its chief operating officer, Dennis Woodside, is stepping down. The company isn’t naming a successor but is announcing two executive promotions. Dropbox stock rose and then fell more than 5 percent after the company also announced better-than-expected earnings for the second quarter. Dropbox will hold a conference call with analysts
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Albertsons Cos last night called off its merger with Rite Aid that would have provided its private equity owners, Cerberus Capital Management, a long-awaited means to unload its more than decade-old grocery investment. The scuttled deal is just the latest in a string of disappointments for Cerberus, which has unsuccessfully tried to shed Albertsons multiple
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Homeownership eludes millions of millennials. A new report by the Urban Institute, a policy research group, tries to explain why. There is a whole host of reasons, including personal preferences and economic disadvantages, that explain why the homeownership rate for the largest generation in U.S. history is lower than that of their parents and grandparents.
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A difficult week for bitcoin investors may get much worse, according to Renaissance Macro Research. The firm’s head of technical research, Jeff deGraaf, said he would recommend betting against bitcoin if the cryptocurrency broke through its key year-to-date support level. “Parabolic moves are notoriously dangerous for short‐sellers … Usually a top develops that often appears
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Elon Musk’s stunning announcement that he is looking to take his pioneering car company private could have darker implications for the broader market. Myriad questions surround the Tesla founder’s cryptic tweets earlier this week that he has financing in place to remove the company from the public sphere in a deal he’s valuing at $420
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