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President Donald Trump was at a severe disadvantage during a 2017 meeting with Russian President Vladimir Putin because Trump wasn't prepared, former Secretary of State Rex Tillerson told lawmakers this week, the Washington Post reported Wednesday. Tillerson said the two-hour meeting in Hamburg, Germany, was only supposed to be a brief conversation, but Putin seized the initiative and "created an unequal footing" by discussing a range of global issues, the Post reported. Tillerson spoke Tuesday to a bipartisan group of House Foreign Affairs Committee members and staffers. Trump has, in the past, boasted that he does not need to prepare for meetings with foreign leaders because he relies on instinct. Tillerson, who was fired by Trump last year, also said he did not share Trump's values, though he said both had U.S. interests at heart, the Post said. He also detailed clashes with Trump's son-in-law, Jared Kushner, who he said did not follow diplomatic protocol, did not communicate enough with the State Department and put himself at risk of being outmaneuvered by foreign officials, the Post reported.

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The Las Vegas Convention and Visitors Authority approved a $48.6 million contract with Elon Musk's Boring Co. on Wednesday to build a people-mover at the city's sprawling convention center. The system will run high-speed autonomous electric vehicles through two tunnels, carrying up to 11,000 people an hour, the Boring Co. said in March. The project is scheduled to be completed in time for CES in January 2021, but Musk said in March that it could be operational by the end of this year. The project is one of many by the Boring Co., including a people-mover to Dodger Stadium in Los Angeles and high-speed transit lines in Chicago and the East Coast. But its plans for a tunnel connecting Washington and Baltimore are not shaping up to national safety standards, according to a report Wednesday by TechCrunch. A 500-page draft environmental report said the 35-mile tunnel system lacks enough emergency exits and practical means to get trapped passengers above ground quickly, TechCrunch said.

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UBS cut its price target on Apple Inc. shares Wednesday after the company published its annual survey of smartphone customers and said that it seems the amount of time consumers are waiting to replace smartphones will continue to grow longer. UBS analysts said that a survey of 8,000 smartphone users suggests that the smartphone upgrade cycle will continue to elongate, especially in the U.S. and U.K., and that concerns about China only adds to doubts about iPhone sales. "We cut our iPhone forecasts to reflect the smartphone softness and see risk of potential demand destruction in China from backlash given Huawei situation," the analysts wrote. UBS maintained a buy rating but dropped its price target on the stock from $235 to $225, at least the third price-target decline for Apple this week that mentioned China fears, after Goldman Sachs and HSBC made similar moves. Twenty of 39 analysts tracking Apple rate the stock the equivalent of a buy, according to FactSet, while 16 say to hold the stock and three rate it the equivalent of a sell. The average price target as of Wednesday afternoon was $213.62, FactSet reported. Apple shares have declined 2.3% in the past 12 months, as the S&P 500 index has gained 5.1%

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Canopy Rivers said late Wednesday it had appointed current president Narbé Alexandrian to the chief executive job. Until Wednesday, Canopy Growth Corp. CEO Bruce Linton served as interim CEO of Rivers. Linton will remain on Rivers' board as chairman. Canopy Rivers is the publicly traded venture capital-type unit of Canopy Growth, the world's largest weed company. Canopy Rivers stock closed up 2.9% during the regular session Wednesday and Canopy Growth stock closed up 2.3%. The S&P 500 index fell 0.3% Wednesday.

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Shares of Avon Products Inc. rose more than 15% in the extended session Wednesday after Brazilian cosmetics and skin care company Natura & Co. said it planned to buy the iconic U.S. counterpart in an all-stock deal that would create the fourth largest pure-play beauty group in the world. Natura takes a page from Avon's roots in peer-to-peer sales and an army of consultants, and the combined company is expected to have annual gross revenue of more than $10 billion, employ more than 40,000 associates, and be present in 100 countries. "By adding Avon to a portfolio that already includes Natura, The Body Shop and Aesop, Natura & Co will enhance its ability to better serve its different consumer profiles and distribution channels and expand into new geographies," Natura said in a statement. The deal values Avon around $3.7 billion, and the combined group would have an enterprise value of about $11 billion. Natura plan to list American depositary shares on the New York Stock Exchange after the deal is completed, which is expected in early 2020.

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Shares of L Brands Inc. rose more than 14% in the extended session Wednesday after the parent of Victoria's Secret and other brands reported a surprise first-quarter profit and raised its guidance for the year. L Brands said it earned $40 million, or 14 cents a share, compared with 17 cents a share in the year-ago period. Sales rose to $2.629 billion from $2.626 billion a year ago. Analysts polled by FactSet had expected per-share results to break even, in accordance with company's guidance, and sales of $2.6 billion. Comparable-store sales fell 5% at Victoria's Secret and increased 13% at Bath & Body Works, the company said. L Brands also raised its guidance for 2019 EPS to between $2.30 and $2.60, from a previous outlook of EPS between $2.20 and $2.60. Shares of L Brands ended the regular trading day down 5%.

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Urban Outfitters Inc. stock slumped nearly 10% in Wednesday trading as analysts express concern that fashion misses will continue to weigh on results. "Our sales have started out the quarter below our first-quarter trend and internal expectations," said Francis Conforti, Urban Outfitters' chief financial officer, on the call, according to a FactSet transcript. Chief Executive Richard Hayne said issues for May-to-date were due, in part, to product miscalculations. "I believe all brand teams currently have excellent clarity on what the customer is looking for and should be able to execute on that knowledge," he said. "If this assumption is correct, total retail segment comps should improve as the quarter progresses." But for Wells Fargo, that wasn't enough. "The results are clearly disappointing, but what is even more worrisome is the fact that Urban Outfitters was hopeful for mid-single digit 2019 comps just six months ago, and now after a slow start to 1Q they are hopeful for inflection in 2Q (where trends appear to actually be worsening). It creates very limited visibility for investors," analysts led by Ike Boruchow wrote. Wells Fargo rates Urban Outfitters shares market perform with a $28 price target, down $2. Instinet analysts also cut their price target to $28 from $32, but maintained their neutral stock rating. Urban Outfitters' portfolio includes the namesake brand, Anthropologie and Free People. The company just announced a clothing rental service, Nuuly. Urban Outfitters stock has taken a 26.7% tumble while the S&P 500 index has gained 14% for the period.

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NetApp Inc. shares dropped more than 5% in late trading Wednesday after the data-storage company reported weaker than expected earnings and revenue and projected declining quarterly sales and profit. In a fiscal fourth-quarter earnings report, NetApp reported income of $396 million, or $1.59 a share, on sales of $1.59 billion, down from $1.64 billion the year before. After adjusting for stock-based compensation, restructuring charges and other effects, the company reported earnings of $1.22 a share. Analysts on average expected adjusted earnings of $1.26 a share on sales of $1.64 billion, according to FactSet. NetApp said it expects first-quarter adjusted earnings of 78 cents to 86 cents a share on sales of $1.32 billion to $1.47 billion, which suggests a decline from adjusted earnings of $1.04 a share on sales of $1.47 billion in the previous fiscal first quarter. Analysts on average were projecting adjusted earnings of $1.05 a share on sales of $1.49 billion, according to FactSet. NetApp did increase its dividend 20% for the first quarter. NetApp shares closed 4.1% lower at $67.10 Wednesday, then declined lower than $64 in after-hours action immediately following the release of the report.

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U.S. stocks ended lower at the closing bell on Wednesday after a raft of weaker-than-expected earnings from retailers overshadowed the Federal Reserve's minutes where it reiterated the central bank's patient stance. The S&P 500 fell 0.3% to finish around 2,856. The Dow Jones Industrial Average retreated 101 points, or 0.4%, to end near 25,776. The Nasdaq Composite was down 0.4% to finish around 7,751. Shares of Lowe's Cos. and Nordstrom Inc. fell 9% and 12%, respectively, after both delivered worse-than-expected first-quarter earnings. The Fed's minutes from its most recent meeting showed officials were comfortable with the central bank's accommodative policies, though they were split on the outlook for interest rates. Trade tensions continued to linger in investors' horizons even as China's ambassador to the U.S. said late Tuesday Beijing was open to renewing trade negotiations.

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Dallas Fed President Robert Kaplan said Wednesday that he is solidly in the "patient" camp on interest rates and had no position on whether the next interest rate policy move will be to ease or tighten. Asked on the Fox Business Network if the next move by the Fed would be a rate cut, Kaplan replied: "We're basically, I think, at the right policy setting. I'm sort of agnostic at this point between about moving rates up or down." Kaplan said he would need to see something "compelling" that would cause him to end this patient stance. Financial stability concerns was one reason not to cut rates now, he said. "I'm hesitant while we're at or past full employment and the economy is running at solid rates... that adding further accommodation to the economy could create excesses and imbalances that could be painful to deal with in the years ahead," Kaplan said. While he is not a voter, Kaplan is influential given that he is a member of a small subcommittee of Fed officials that focuses on communication strategy.

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Andrea Leadsom, the leader of the U.K.'s House of Commons, has quit on Wednesday, amid disagreements with U.K. Prime Minister Theresa May's Brexit plan, according to reports. The defection comes as the premier has struggled to garner support for a fourth vote on her Brexit deal sometime in June, which also offers members of Parliament the option of voting on a second Brexit referendum. Leadsom is considered one candidate who could replace May. The embattled premier has already stated that she will step down sooner than later, amid an inability to get a Brexit bill passed in Parliament. The Guardian on Tuesday reported that Leadsom wouldn't accept a new Brexit plan that leaves open the possibility of a customs union --a thorny issue for Brexiters. The British pound has been under pressure against its rivals all week. Most recently, a dollar bought $1.2669, compared with $1.2706 late Tuesday. Sterling had fallen to around a four-month low amid unverified rumors of May's imminent resignations. The pound has been weakening amid the Brexit indecision because investors have been worried that recent developments could lead to a disorderly, or "hard," Brexit, an outcome that could roil domestic and international financial markets. In a tweet using a handle believed to be affiliated with Leadsom, the House of Commons leader said: "I cannot fulfill my duty as Leader of the House of tomorrow, to announce a bill with new elements that I fundamentally oppose." The Guardian reported that May has thus far resisted pressure to step down as prime minister immediately.

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Shares of Micron Technology Inc. slumped 2.6% in afternoon trade Wednesday, after CFRA analyst Angelo Zino turned decidedly bearish on the memory chip maker, citing concerns over DRAM prices and the U.S. ban on doing business with China's Huawei Technologies. Zino cut his rating to strong sell from hold, and slashed his price target to $32, which is 7.8% below current levels, from $46. He believes Wall Street consensus earnings estimates need to see "significant downward revisions," as DRAM prices appear unlikely to stabilize in the near term given "excessive" customer inventories, and given that Huawei is a relatively large customer of Micron. "While we applaud [Micron's] ability to improve its balance sheet in recent years, we are growing more concerned about the magnitude of a potential cyclical recovery given the aforementioned issues," Zino wrote in a note to clients. The stock has shed 18.5% over the past three months, while the PHLX Semiconductor Index has slipped 1.2% and the S&P 500 has gained 2.4%.

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Oil futures dropped Wednesday, with U.S. prices settling at their lowest in a week and half, after the Energy Information Administration reported an unexpected weekly climb in U.S. crude inventories, the second weekly rise in a row. "A surprise buildup of 4.7 million barrels of crude and 3.7 million barrels of gasoline pushed prices down," said Alfonso Esparza, senior market analyst at Oanda. "Middle East tensions and the ongoing [OPEC-led] crude output cut deal have kept prices in a higher range, but higher U.S. production keeps putting downward pressure on prices." July WTI oil fell by $1.71, or 2.7%, to settle at $61.42 a barrel on the New York Mercantile Exchange. That was the lowest front-month contract finish since May 13 and biggest one-day dollar and percentage loss in nearly three weeks, FactSet data show.

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Gold prices posted a modest gain on Wednesday, recouping a portion of the loss from a day earlier as U.S. benchmark stock indexes moved lower. Prices then moved a few cents higher in electronic trading after minutes from the Federal Open Market Committee’s April 30 to May 1 meeting showed that voting members seemed comfortable with their patient stance on interest rates. In electronic trading, gold for June delivery was at $1,274.50 an ounce shortly after the meeting minutes. The contract had climbed by $1, or nearly 0.2%, to settle at $1,274.20 an ounce on Comex, ahead of the news.

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The voting members of the Federal Open Market Committee seemed comfortable with their patient stance on interest rate, agreeing it could last for "some time," according to minutes of their April 30- May 1 meeting released Wednesday. Even if global economic and financial conditions improve, a wait-and-see approach was warranted, the officials said. Officials were split on the outlook for interest rates. A few officials said there might be a need for higher rates if the economy evolves as they thought. But others thought higher productivity might mean there was more economic slack than the low unemployment rate might suggest. Several others expressed worry about the risk of low inflation readings leading to lower expectations of future inflation, but did not call for a rate cut. Many said that the recent low inflation readings were transitory. In addition to interest-rate policy, there was a lengthy discussion, but no decision, about what types of Treasurys the central bank should hold once its balance sheet stops shrinking.

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Avon Products Inc. confirmed that it's in "advanced discussions" with Brazilian beauty company Natura Cosmeticos S.A. about Avon's acquisition in an all-stock transaction. "There can be no assurance any transaction will result from these discussions," the statement said. The Wall Street Journal reported on the talks, writing that the boards of both companies have approved the deal. Avon stock soared more than 15% in Wednesday premarket trading on the report. Shares of the beauty company have jumped more than 110% for the year to date, closing Tuesday at $3.20. The S&P 500 index has gained 14.3% for 2019 so far.

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President Donald Trump on Wednesday said he told House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer that he can't proceed with a discussion about infrastructure spending while under investigation. Trump and the Democratic leaders were scheduled to discuss building on a preliminary agreement for $2 trillion of infrastructure spending. At an unscheduled Rose Garden press conference, Trump decried the probe by Special Counsel Robert Mueller and said he had the most transparent administration in history. Earlier, Pelosi said Trump engaged in a cover up.

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Shares of Ambarella Inc. plunged 13.1% in active morning trade Wednesday, putting them on track to suffer the biggest one-day drop since September 2017, following reports that the U.S. was considering adding China-based Hougzhou HIK Vision Digital Technology Co. Ltd. to a blacklist. Trading volume swelled to 2.4 million shares, already nearly 5-times the full-day average. Morgan Stanley analyst Joseph Moore estimates that the video processing chips seller's exposure to HIKVision is in the "high teens" percentage of total revenue. "While Ambarella is officially incorporated in the Cayman Islands, we would expect them to be impacted by such a restriction if it were to be implemented," Moore wrote in a note to clients. He reiterated his overweight rating and $52 stock price target. Ambarella shares have gained 9.9% year to date, while the S&P 500 has advanced 14%.

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The Energy Information Administration on Wednesday reported that U.S. crude supplies rose by 4.7 million barrels for the week ended May 17. Analysts polled by S&P Global Platts expected a fall of 2 million barrels, on average. Data from the American Petroleum Institute on Tuesday had shown an increase of 2.4 million barrels, according to sources. The EIA data also revealed that gasoline inventories climbed by 3.7 million barrels, while distillate stockpiles edged up by 800,000 barrels last week. The S&P Global Platts survey had shown expectations for a supply climb of 1 million barrels for gasoline and a decline of 1 million barrels for distillate stockpiles. July West Texas Intermediate crude fell by 80 cents, or 1.3%, to $62.33 a barrel on the New York Mercantile Exchange. It was trading at $62.50 before the supply data.

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Purple Carrot, a U.S. plant-based meal kit company, said it will be acquired by Tokyo-based Oisix ra daichi Inc. in a deal valued at $30 million. Deal terms include an upfront payment of $12.8 million and an earn-out potential for $17.2 million through 2021. Purple Carrot is among the slew of meal-kit companies that have launched in recent years including Blue Apron Inc. and HelloFresh SE . Osisix was founded in June 2000 and generated about $580 million in revenue for the year ending March 2019, up 160% from the previous year. Purple Carrot launched in October 2014. The Invesco Dynamic Food & Beverage ETF has gained nearly 13% for the year to date, while the S&P 500 index is up 14% for the period.

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U.S. stock benchmarks opened lower Wednesday morning as markets awaited the release of Federal Reserve minutes that could shed light on the central bank's outlook for interest rates amid Sino-America trade tensions. The Dow Jones Industrial Average fell 55 points, or 0.2%, at 25,820, the S&P 500 index retreated 0.2% at 2,858, while the Nasdaq Composite Index slipped 0.2% at 7,768. Minutes from the rate-setting Federal Open Market Committee's April 30-May 1 meeting will be released at 2 p.m. Eastern Time, and come amid increasing expectations that the central bank will cut rates before year-end. In corporate news, shares of home-improvement retailer Lowe's Co. were under pressure, down 7.4%, after its earnings disappointed, while shares of Target Corp. soared more than 9% after its quarterly results. Both quarterly updates were released before the start of regular trade. And Qualcomm Inc. shares tumbled, after a federal judge ruled late Tuesday that the chip maker violated antitrust laws.

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International Speedway Corp. announced Wednesday a deal to be acquired by Nascar Holdings Inc. in a deal valued at $2.0 billion. Under terms of the deal, Nascar will pay $45 in cash for each International Speedway share outstanding, which represents a 2.0% premium to the Class A shares' Tuesday closing price of $44.10, and 7.1% above Nascar's original bid in November of $42 a share. The deal is expected to close in 2019. International Speedway's stock, which is halted for news until 9:50 a.m. Eastern, has gained 0.6% year to date, while the S&P 500 has advanced 14%.

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Qualcomm Inc. said Wednesday that it "strongly disagrees" with the ruling of a federal judge in favor of the Federal Trade Commission's (FTC) suit alleging the mobile chips maker illegally suppressed competition. Qualcomm said it will "immediately seek a stay" of the U.S. District Court Judge Lucy Koh's judgment and an "expedited appeal" to the U.S. Court of Appeals for the 9th Circuit. Qualcomm's stock tumbled 11% on premarket leading volume of 6.4 million shares. "We strongly disagree with the judge's conclusions, her interpretation of the facts and her application of the law," said Qualcomm General Counsel Don Rosenberg. The stock has soared 46.4% over the past three months through Tuesday, boosted by the announcement last month that the company and Apple Inc. have dropped all lawsuits against each other. In comparison, the PHLX Semiconductor Index has edged up 0.7% the past three months and the S&P 500 has tacked on 2.6%.

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Green Dot Corp. said Wednesday it has entered a $100 million accelerated share buyback program with Bank of America Merrill Lynch . The bank, which targets low-income customers with a range of retail banking services, said it will receive an initial delivery of about 1.7 million shares. The final number will be based on its volume-weighted average stock price during the transaction, which is expected to be completed in 2019. Shares were up 2% in premarket trade, but have fallen 40% in 2019, while the S&P 500 has gained 14%.

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Apple Inc.'s per-share earnings are at risk of shrinking by about 29%, or $3.35, if its products are banned in China in retaliation for measures taken by the U.S. government against Huawei, Goldman Sachs said Wednesday. "This represents 100% of estimated Apple earnings exposure to Mainland China and Hong Kong combined with some offset assumed for Sales & Marketing cost savings," analysts led by Rod Hall wrote in a note to clients. Based on the company's own disclosures, Apple's sales into Mainland China made up about 96% of total Greater China sales in 2013 and 2014; the company stopped making disclosures after 2015, but Gartner data suggests about 39 million iPhone shipments in Greater China in 2019, 83% of which went to Mainland China, 13% to Hong Kong and less than 5% to Taiwan. There is also risk for the company in its supply chain, most of which is based in mainland China, including the final assembly of the iPhone at Foxconn facilities. "We are not assuming restrictions on iPhone production in Mainland China at this point. Should China restrict iPhone production in any way we do not believe the company would be able to shift much iPhone volume outside of China on short notice, though actions that would push Apple production outside of China could have negative implications for the China tech ecosystem as well as for local employment," said the note. Goldman rates the stock as neutral and cut its price target to $178 from $184. Shares were down 1.4% premarket, but have gained 18% in 2019, while the Dow Jones Industrial Average , which counts Apple as a member, has gained 11% and the S&P 500 has gained 14%.

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J.P. Morgan Chase & Co. and Visa Inc. said Wednesday that Chase customers can soon use their Visa contactless cards to ride subways and buses in New York City. The use of the tap-to-pay cards will start May 31 for the 4, 5 and 6 subway lines between the Grand Central-42nd Street station in Manhattan to Brooklyn's Atlantic Ave.-Barclays Center station, and on all Staten Island buses. "Over time," all subway lines and buses will accept the contactless cards, the companies said. "Contactless payments have shaped the way consumers pay all over the world, saving valuable time and delivering a fast, easy and secure way to pay," said Dan Sanford, Visa's global head of contactless payments. J.P. Morgan Chase's stock slipped 0.4% in premarket trade and Visa shares edged up 0.2%, while futures for the Dow Jones Industrial Average declined 95 points, or 0.4%.

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Clinical stage biotech Affimed N.V. said Wednesday it is terminating its phase I program for AFM11 to focus on its innate immunity portfolio. The company had put two clinical trials of the cancer treatment on hold back in October after one patient died and two others experienced life-threatening events in the high-dose group. The trials were testing the drug in patients with types of non-Hodgkin lymphoma and acute lymphoblastic leukemia. Heidelberg, Germany-based Affimed said it will start a study of AFM13 this year and enter the clinic with AFM24. ""We strongly believe our innate cell engagers could enhance current immuno-oncology approaches and address unmet patient needs in treating hematologic and solid tumor malignancies," Chief Executive Dr. Adi Hoess said in a statement. "We have determined that the optimal use of our resources at this time is to advance our innate cell engagers, focusing their development on indications with high unmet need and the potential for a rapid path to regulatory approval." The company's Chief Scientific Officer Dr. Martin Treder is stepping down to pursue new opportunities, but will remain as a consultant to the company. Affimed has received a milestone payment from Genentech, owned by Roche Group, triggered by the achievement of a milestone that was part of a research deal with Genentech to develop natural killer (NK) cell engager-based immunotherapeutics based on Affimed's ROCK(R) platform to treat multiple cancers. The company said it believes its 108.8 million euros of cash on hand is enough to fund its activities into 2021. Shares fell 9.6% premarket, but have gained 6.88.6% in 2019, while the S&P 500 has gained 14.3%.

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Shares of Analog Devices Inc. slipped 0.5% in premarket trade Wednesday, after the chip maker reported fiscal second-quarter earnings and revenue that beat expectations, but provided downbeat third-quarter outlook as a result of the U.S.'s export restrictions on a "large communications company." Net income for the quarter to May 4 fell to $367.9 million, or 98 cents a share, from $400.3 million, or $1.06 a share, in the year-ago period. Excluding non-recurring items, adjusted earning per share fell to $1.36 from $1.50, but was above the FactSet consensus of $1.31. Revenue slipped 2% to $1.53 billion, topping the FactSet consensus of $1.51 billion, as better-than-expected industrial, automotive and communications revenue offset a miss in consumer revenue. For the third quarter, Analog expects adjusted EPS of $1.22, plus or minus 7 cents, compared with the FactSet consensus of $1.38, and expects revenue of $1.45 billion, plus or minus $50 million, versus expectations of $1.55 billion. "The world around us remains volatile and uncertain, but when I take a step back and look past the geopolitical noise, I am confident that the macrotrends propelling our markets forward are creating unprecedented demand for the technologies we provide," said Chief Executive Vincent Roche. Analog's stock has rallied 16.4% year to date through Tuesday, while the PHLX Semiconductor Index has climbed 19.0% and the S&P 500 has advanced 14.3%.

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VF Corp. shares slid nearly 7% in Wednesday premarket trading after the company reported fiscal fourth-quarter earnings and gave full-year outlook amid the spin-off of the jeans business into the new Kontoor Brands. VF Corp. brands include Vans, The North Face and Timberland. Net income totaled $128.8 million, or 32 cents per share, down from $252.8 million, or 63 cents per share, last year. Adjusted EPS was 60 cents, ahead of the 58-cents FactSet consensus. Revenue totaled $3.21 billion, down from $3.05 billion last year and in line with the FactSet estimate. The company announced on April 30 that would spin off its jeans business, comprised of the Lee and Wrangler brands. VF Corp. stockholders of record as of May 10 will receive one share of the new Kontoor Brands stock for every seven shares of VF Corp. common stock, with distributed scheduled to be completed after the close of business Wednesday. Kontoor Brands has received approval to list under the ticker "KTB." Fiscal 2020 outlook reflects "management's best estimates" of the impact of this separation. In addition, VF Corp's adjusted amounts takes into account the sale of the Nautica brand, the acquisition of Williamson-Dickie, Icebreaker and Altra brands, and expenses and losses related to the divestitures of the Reef brand and Van Moer business. For fiscal 2020, VF Corp. expects revenue in the range of $11.7 billion to $11.8 billion and adjusted EPS in the range of $3.30 and $3.35. FactSet guidance is for sales of $14.5 billion and EPS of $4.23, which may not take the separation into account. VF Corp. stock has gained 29.1% for the year to date while the S&P 500 index has gained 14.3% for the period.

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Shares of Advance Auto Parts Inc. gained 0.7% in premarket trade Wednesday, after the auto parts retailer reported fiscal first-quarter earnings and revenue that beat forecasts. Net income for the quarter to April 20 rose to $142.5 million, or $1.98 a share, from $136.7 million, or $1.84 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $2.46, above the FactSet consensus of $2.37. Net sales rose 2.7% to $2.95 billion, just above the FactSet consensus of $2.94 billion, as same-store sales increased 2.7%. Free cash flow increased 19.9% to $143.2 million. The company expects 2019 net sales of $9.65 billion to $9.80 billion, compared with the FactSet consensus of $9.78 billion, and expects same-store sales growth of 1.0% to 2.5%. The stock has tacked on 2.4% year to date through Tuesday, while the S&P 500 has climbed 14.3%.

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The U.S. military said it sent two Navy ships through the Taiwan Strait on Wednesday, its latest transit through the sensitive waterway, angering China at a time of tense relations between the world's two biggest economies.

Calm returned to the streets of the Indonesian capital on Thursday after a second night of clashes between security forces and protesters angry about the outcome of last month's election, which handed President Joko Widodo a second term.

Indian Prime Minister Narendra Modi has swept to a huge election victory, his foreign minister said on Thursday, giving his party a mandate to pursue policies that put Hindus first, are mainly business-friendly and take a hard line on national security.

Pakistan has signaled a willingness to open peace talks with India as Prime Minister Narendra Modi appears set to return to power in New Delhi after an election fought in the shadow of renewed confrontation between the nuclear-armed enemies.

Europeans start voting on Thursday in four days of elections to the EU parliament that will influence not just Brussels policy for the next five years but, to some extent, the very future of the Union project itself.

Prime Minister Narendra Modi's party was set for a historic victory as India on Thursday counted hundreds of millions of votes from its general election.

Prime Minister Theresa May was under intense pressure to name a date for her departure after her final Brexit gambit failed, overshadowing a European election that will show a United Kingdom still riven by divisions over its EU divorce.

U.S. President Donald Trump's administration plans to use a loophole and rising tensions with Iran to sell bombs to Saudi Arabia, even though Congress blocked such sales for months over concerns about civilian deaths in the war in Yemen, Senator Chris Murphy said on Wednesday.

Russian Deputy Prime Minister Dmitry Kozak will meet Belarusian counterpart Igor Lyashenko on Thursday to coordinate energy issues before their respective prime ministers meet to discuss the contaminated oil on the Druzhba pipeline, an aide for Kozak said.

U.S. Navy ships conducted joint drills with warships from allies Japan, Australia and South Korea in their first combined exercise in the Western Pacific, the U.S. Navy said on Thursday.

The lost U.S. paratrooper tapped on the door of the Rigault family's farmhouse in Normandy in the early hours of June 6, 1944, miles south of his intended drop zone and soaking from his landing in the surrounding marshland.

Belarusian Deputy Prime Minister Igor Lyashenko who oversees oil and gas will meet Russian counterpart Dmitry Kozak in Moscow on Thursday, RIA news agency cited the Belarusian government as saying.

A 36-year-old nationalist who has taken Dutch politics by storm is set to make huge gains in European elections in the Netherlands on Thursday.

"We have lost the battle," a regional leader of India's main opposition Congress party said on Thursday, after Prime Minister Narendra Modi's party said it had secured a massive victory in the general election.

Australian Deputy Prime Minister Michael McCormack was on Thursday re-elected leader of the junior partner in the coalition government after a strong party showing in last week's election dispelled internal discontent about his performance.

Indian Prime Minister Narendra Modi's party has won the general election, a senior party leader said on Thursday.

British protesters inflated a blimp depicting Donald Trump as a snarling, nappy-wearing orange baby on Wednesday, a trial run ahead of a planned flight during the U.S. president's state visit to Britain next month.

John Walker Lindh, the American captured in 2001 fighting for the Taliban, is to be released early from federal prison on Thursday as some U.S. lawmakers fear he remains a security risk.

The U.S. Department of Defense is considering a U.S. military request to send about 5,000 additional troops to the Middle East amid increasing tensions with Iran, two U.S. officials told Reuters on Wednesday.

Iran's youth will witness the demise of Israel and American civilization, Iran's Supreme Leader Ayatollah Ali Khamenei said on Wednesday in comments published on his official website.

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Among the companies whose shares are expected to see active trade in Friday’s session are DuPont, Nike, and KB Home.

Among the companies whose shares are expected to see active trade in Thursday’s session are Bed Bath & Beyond, GoPro, and Nike.

Among the companies whose shares are expected to see active trade in Wednesday’s session are Google Inc., and Barnes and Noble Inc.

Wisconsin Energy Corp., Oracle Corp., and General Electric Co. may all see active trading after deals, or talk of deals.

Among the companies whose shares are expected to see active trade in Friday’s session are Oracle, Smith & Wesson, and Family Dollar.

Among the companies whose shares are expected to see active trade in Thursday’s session are BlackBerry, Oracle, and Kroger.

Among the companies whose shares are expected to see active trade in Wednesday’s session are FedEx, Jabil Circuit, and Red Hat.

Among the companies whose shares are expected to see active trade in Monday’s session are Covidien, Medtronic and Layne Christensen and Korn/Ferry International.

Among the companies whose shares are expected to see active trading in Friday’s session are Intel and Finisar.

Among the companies whose shares are expected to see active trade in Thursday’s session are Lululemon Athletica, Finisar, and Target.

‘In many communities, this reinforces commonly held gender biases that women are subservient and tolerant of poor treatment,’ a recent UN report said.

Millennials are coping with rising student debts, a cost-prohibitive housing market and stagnant wages.

Wall Street was setting up for a bumpy session on Thursday as a U.S.-China trade spat simmered and the Fed failed to give stocks a lift from the minutes of the latest meeting.

Some 60% of male managers say they are uncomfortable mentoring or socializing with women at work.

Communities with large LGBTQ populations continue to be hot spots for gentrification.

For the first time, this vote is really about differing visions of what the European Union should be.

‘How do I explain to someone that I care about the money that I’ve sweated so hard over for almost two decades?’

Overconfident people from upper-class backgrounds succeed, even if they’re not that clever.

Savvy borrowers can saves thousands of dollars by leveraging competing offers from lenders.

Jordan Long would have been in the Morehouse class of 2019, if all went according to plan

More potential blacklists put tech stocks at risk as Brexit shenanigans keep pushing the pound lower.

The terms "bull" and "bear" market is used to describe how stock markets are doing. A bull market is favorable and rises in value, while a bear declines.

Tracking the blue-chip stocks of the DJIA with these four exchange-traded funds (ETFs) is easy, and some investors consider them a cornerstone investment.

A key aspect of investing is measuring your results. This information in and of itself is meaningful, but it doesn’t tell the whole story.

Goldman Sachs and Morgan Stanley have distinct ways of doing business, with one focusing on high rewards and the other on caution.

The market for products using CBD, a compound in marijuana, may rise to $16 billion by 2025.

After years of sagging performance, more active investment managers are now beating their benchmarks, capitalizing on trade-induced volatility.

Qualcomm shares moved sharply lower after a District Judge ruled in favor of the FTC in an antitrust lawsuit alleging suppressed competition and excessive licensing fees.

A look at one of the world's leading entertainment company's business model.

Paint and coatings stocks have retreated toward support amid trade tariffs and margin pressure. Brush up on three trading ideas to play a rebound.

- Casey Murphy

Most investors within North America prefer to invest in domestic equities. These charts suggest now could be the time to look to the frontier markets.

Bullish chart patterns and strong fundamentals suggest the building and construction sector is the one to watch.

- Shoshanna Delventhal

The slate of IPOs in May alone have already raked in $15 billion, marking the most raised in one month since September 2014.

The money market is anticipating a cut in the fed funds rate sometime in 2019, itself an indicator that recessionary risks are rising.

- John Jagerson

Trump's Huawei reversal created a sea of green. The S&P 500 avoided breaking support, and the VIX showed underlying bullishness.

List of the best-performing stocks of the S&P 500 index for the year 2018.

- Staff Author

Shares of Alibaba are facing a steep decline of up to 8% from the stock's current price of $163.50.

AMD has fallen 22% from its intraday high in September.

The plunging stock market has intensified the debate over the future of the bull market, and these three gurus have widely differing views.

- Staff Author

Epic Games grossed a $3 billion profit in 2018. But how does a game like Fortnite actually make money? Here's an explanation of how this popular game brings in the cash.

- Staff Author

Discover the world's top 10 health care companies according to market capitalization, including a brief summary of each.

- Staff Author

Here are the top dividend-paying stocks in the legal marijuana industry.

- Staff Author

These three silver stocks could beat their peers in the remaining months of 2018.

A significant number of M&A transactions result in failure. Here are the top reasons why it happens.

Apple generates up to 18% of its revenue, and an even larger share of its profit, from China.

Investors increasingly worried about sharp stock market declines are taking protective measures such as these.

An ascending triangle pattern indicates that the stock is poised for a big move, and the breakout will likely be to the upside.

- Staff Author

Here are seven of the best books written on technical analysis to help traders and investors understand and apply technical analysis.

Shares jumped in Tuesday's session after favorable clinical trial results paved the way for potentially near-term marketing approval.

Shares of the luxury mall anchor are slumping badly so far in 2019, sliding toward the five-year low of $35.01 set in July 2016.

Institutional buy signals suggest additional upside potential as the payment software company looks to dominate its space.

- Prableen Bajpai

Opportunities to invest in economic growth around the world can be done through American depositary receipts, mutual funds and more.

Goldman Sachs says U.S. corporate profits may escape the trade war largely unscathed despite escalating tensions.

Sellers moved into packaging stocks Monday, with key names falling below technical support. Explore three short sale trading ideas.

Bullish chart patterns on key charts from across the aerospace and defense sector suggest that now could be a great time to buy.

Tesla shares are poised to continue their slide after closing at a multi-year low yesterday.

Huawei's technology leadership, market reach and suspicions about spying have made the telecom giant a focal point of the trade dispute.

Analysts at Morgan Stanley believe a re-acceleration of semiconductor shipments in the second half of the year is unlikely in this macro environment.

Despite escalating trade tensions, a number of stocks are looking relatively cheap compared to the past as well as future growth prospects.

The trade war hit the tech sector directly as the S&P 500 saw a bearish continuation day, and rare earth metals may be next casualty.

The markets will have an eye on foot traffic and same-store sales when the discount retailer company reports results Tuesday morning.

- Shobhit Seth

In the wild world of cryptocurrency, Neo is trying to win by playing by China's regulatory rules.

- Staff Author

Although a silver certificate dollar bill no longer can be exchanged for silver, the date, grade and unique features make certain certificates very valuable.

This is a list of the top paid chief executive officers in 2018 for publicly traded companies.

- Staff Author

Learn about the forces driving the Chinese economy and helping the country earn money. China has the first or second largest GDP in the world but is not nearly as developed as others in the top 10.

- Staff Author

Learn which teams were the most valuable sports franchises in 2017.

- Cory Mitchell

Learn how the stock market works, what it means to own stocks and shares, how shares are classified, why companies issue shares, and the pros and cons of an exchange listing.

It seems logical that the retailer of aftermarket auto parts and accessories will be adversely affected by higher tariffs.

- Staff Author

Learn how the telecommunication sector consists of companies that transmit data in words, voice, audio, or video across the globe.

These top information technology (IT) stocks have outperformed the rest amid a period of heightened volatility in the tech sector for 2018.

The largest U.S. companies are repurchasing their shares at a brisk pace, and 1Q 2019 may prove to be the second-biggest quarter ever for buybacks.

Following the path of Lyft, Uber is severely underperforming in early trading despite being one of the year's highly anticipated IPOs.

- Prableen Bajpai

Here is a look at the top 10 FinTech companies from around the world (in no specific order).

- Staff Author

Mutual funds and ETFs that invest in high-yield bonds yield greater returns than government securities, but with additional and often significant risk.

- Nathan Reiff

For those investors feeling skeptical about Bitcoin, shorting the cryptocurrency is a possibility.

- Staff Author

8 high-risk investment vehicles that can double investors' funds.

- Staff Author

Similar to the mortgage-backed securities that caused the 2008 recession, student loan asset-backed securities could lead to the next financial crisis.

- Staff Author

Examine Verizon's position in the wireless service industry by considering Porter's Five Forces and determining the company's biggest potential threats.

- Prableen Bajpai

Take a look at some of the most well-known and reputable peer-to-peer lending websites, their business models, and successes to date.

- Staff Author

Discover the 10 best checking accounts for expats, including those that do not charge for debit card transactions and ATM withdrawals.

- Mrinalini Krishna

It's been a long, strange trip for pot stocks, and it could get stranger. Here's all you need to know about the marijuana industry and the major players in it.

These ate the four companies owned by Google (Alphabet) that are household names as well. Alphabet owns more than 200 companies, including those involved in robotics, mapping, video broadcasting, telecommunications, and advertising.

- Staff Author

These five ETFs are solid investments for those who want real estate exposure without any headaches.

- Staff Author

Learn about Porter's Five Forces, a framework used to analyze external threats to companies, and discover which forces pose the biggest threats to Delta.

- Shobhit Seth

What’s behind the scenes of HFT? Here's a detailed look at the breakneck world of algorithmic and high-frequency trading

Since humble beginnings as an online book retailer, Amazon has gone on to become one of largest and most important companies in the world. Here are some of Amazon's top acquisitions and subsidiaries.

- Deborah D'Souza

Netflix worked hard to make “binge-watching” a trend, but now it seems to be backing away from the word if not the concept. It’s all about smart marketing.

- Nathan Reiff

Bitcoin, bitcoin cash, bitcoin gold and other variations can be hard to keep straight.

- Staff Author

Twitch may just be Amazon’s best-kept secret. Here's how the esports streaming service makes money.

- Prableen Bajpai

Altcoins present themselves as modified or improved versions of Bitcoin. With Bitcoin prices being volatile, we think you should keep an eye on these 10 alternatives.

The video-game industry pulls in $100 billion in revenue annually. Failed companies offer a cautionary tale.

It’s one of the biggest buzzwords in the financial sector right now, but also one of the least understood. Here’s a breakdown of everything you need to know before buying your first bitcoin — or deciding not to.

Apple has one of the best supply-chain models. Here are some of the top businesses involved, along with the benefits and challenges for each.

- Staff Author

Find out how much money it takes to land on the list of 10 of the wealthiest families in the world, and why nobody is really sure what it takes to be number one.

- Staff Author

Understand what has helped result in so many young billionaires in the world. Learn about the 10 youngest billionaires in the world.

- Staff Author

Take a look at the world's top 10 entertainment companies, spanning the movie, television, cable television, gaming, and streaming video sectors.

- Rebecca McClay

Rapidly growing online retailer Alibaba Group has a wide array of dominant companies under its umbrella.

- Staff Author

Learn more about the three largest individual shareholders of Tesla and how much their shares are worth.

- Peter Leeds

Technical analysis can uncover short-term trading opportunities in tumultuous markets. These penny stocks could be profitable in May.

- Staff Author

These five strategies are used by traders to capitalize on stocks or securities that exhibit high volatility.

- Alan Farley

Crude oil remains in a tight correlation with many currency pairs.

- Staff Author

While 2016 did not see a $100 billion deal, there were plenty of important multibillion-dollar deals.

- Staff Author

Warren Buffett has consistently ranked highly on Forbes' list of billionaires. He has a careful methodology for uating value stocks and investing.

- Andrew Beattie

How Disney became one of the most powerful entertainment companies in history.

There is power in voting with your wallet. For those interested in backing companies that promote women's empowerment, here are some firms to consider.

- Staff Author

Apple is one of the most popular brands in the world. The tech titan got to where it is today in part thanks to its acquisitions and subsidiaries.

In this article find out how the Dow Jones Industrial Average works, tracks market movements, and what changes mean for investors and the stock market.

- Staff Author

Discover four financial institutions will pay you a cash bonus or match when you roll over assets from an old 401(k) or qualified retirement plan.

- Staff Author

Two ETFs are dedicated to the cybersecurity market, which continues to grow globally. One of these ETFs may be better for long-term investors.

- Matthew Johnston

Demand for lithium from automakers to smartphone producers is rising, but lithium stocks are plunging.

Annual tax-loss harvesting offers positive and negative aspects for investors. Learn the ins and outs of this taxing and yearly reaping process.

There's a case to be made that small-cap ETFs will outperform in the months ahead. Here are a few to consider.

The market faces wild swings ahead as the U.S.-China trade war continues with no end in sight.

T-Mobile stock broke out above a major trendline this week, indicating that the telecom giant's 15-month correction may be coming to an end.

- Staff Author

Looking for a career in the aviation industry? These airlines come out on top when it comes to salary and perks.

- Staff Author

Discover the consumer discretionary sector, industries within this sector and companies producing goods that fall under the consumer discretionary definition.

Is inflation ever good? If you like your job it is.

Shares of the cloud-based security company are set to break out from an ascending triangle chart pattern.

- Staff Author

Learn how Alibaba Group's business model relates to e-commerce leaders in the United States and discover how they play the middleman to various types of buyers and sellers.

Warren Buffett's Berkshire also increased its equity positions in JPMorgan and Red Hat, according to a recent filing.

U.S. President Donald Trump's administration plans to use a loophole and rising tensions with Iran to sell bombs to Saudi Arabia, even though Congress blocked such sales for months over concerns about civilian deaths in the war in Yemen, Senator Chris Murphy said on Wednesday.

The U.S. Department of Defense is considering a U.S. military request to send about 5,000 additional troops to the Middle East amid increasing tensions with Iran, two U.S. officials told Reuters on Wednesday.

U.S. President Donald Trump, three of his children and the Trump Organization on Wednesday lost their bid to block Deutsche Bank AG and Capital One Financial Corp from providing financial records to Democratic lawmakers investigating Trump's businesses.

U.S. President Donald Trump, three of his children and the Trump Organization on Wednesday lost their bid to block Deutsche Bank AG and Capital One Financial Corp from providing financial records to Democratic lawmakers investigating Trump's businesses.

The House Oversight Committee has reached an agreement with President Donald Trump's attorneys to seek an expedited appeal in a court case in which lawmakers are seeking the U.S. leader's financial records from his accounting firm, the panel said in a statement on Wednesday.

A bipartisan group of U.S. lawmakers introduced legislation on Wednesday to provide about $700 million in grants to help U.S. telecommunications providers with the cost of removing Huawei equipment from their networks.

The Trump administration will complete a draft proposal to streamline environmental permitting for big infrastructure projects by next month, an administration official said on Wednesday, marking a key step in its controversial effort to cut red tape for industry over the objections of conservationists.

Michael Avenatti's legal troubles escalated on Wednesday as federal prosecutors announced new indictments accusing the lawyer and prominent critic of U.S. President Donald Trump of ripping off porn star Stormy Daniels and extorting Nike Inc.

New York state's legislature on Wednesday passed a bill that would make it easier for U.S. congressional committees investigating President Donald Trump to get access to his state tax returns.

The Trump administration on Wednesday agreed not to immediately redirect nearly $1 billion it is withholding from California's high-speed rail project, one of several disputes between Republican Trump and the Democratic-controlled state.

Retired Navy Admiral and former U.S. special operations chief William McRaven has no regrets about criticizing President Donald Trump, though he said on Wednesday that friends in the military faulted him for disparaging the commander-in-chief.

President Donald Trump on Wednesday abruptly cut short a White House meeting with Democratic lawmakers on infrastructure, then ripped into them over House Speaker Nancy Pelosi's accusation that he is engaged in a cover-up and asserted that he could not work with them unless they dropped multiple investigations.

The U.S. census should include questions about criminal records to help policymakers get former convicts back into the workforce, a Republican lawmaker said on Wednesday.

As the U.S. government prepares to defend the 2020 presidential election from cyber threats, the federal agency charged with helping administer elections, the Election Assistance Commission, says it is “strained to the breaking point,” according to Chairwoman Christy McCormick.

Representatives from more than 70 companies met with U.S. lawmakers on Wednesday to push for a tax on carbon emissions to fight climate change, and a senator said bipartisan legislation containing such a plan could be introduced in weeks.

John Walker Lindh, the American captured in Afghanistan in 2001 fighting for the Taliban and vilified as a national traitor, is to be released early from a federal prison on Thursday while some U.S. lawmakers worry he still poses a security risk.

President Donald Trump's refusal to negotiate with Congress does not extend to his administration's effort to reach a deal on must-pass debt ceiling and funding bills, CNBC reported on Wednesday, citing an unidentified senior administration official.

Virginia Governor Ralph Northam's former medical school was unable to determine his role in a racist photograph that appeared on his 1984 yearbook page, according to a report released on Wednesday following a three-month inquiry.

U.S. House Speaker Nancy Pelosi said on Wednesday she prays for President Donald Trump after a meeting on infrastructure between Democratic congressional leaders and the president collapsed.

U.S. House Speaker Nancy Pelosi said on Wednesday President Donald Trump was engaged in obstruction of justice and a cover-up which could be an impeachable offense.

Investors continued a four-week long retreat from the U.S. stock market last week by unloading a net of nearly $9.6 billion in assets from domestic mutual and exchange-traded funds, according to data...

Hedge fund investor Doug Kass said on Tuesday that he is shorting several investment managers, including T. Rowe Price Group Inc and Franklin Resources Inc, as they could be "the next group to feel...

From submitting their fingerprints to giving up their tax records, Wells Fargo & Co's next chief executive will go through a vetting process that could rival that of top U.S. government officials.

U.S. hedge fund Elliott Management is opposing a new plan by Brazilian airline Azul SA to purchase some of the routes operated by financially troubled rival Avianca Brasil for $145 million, according...

(This May 16 story corrects 10th paragraph to clarify that 96% of cosigns are for undergraduate loans.)

Philadelphia Energy Solutions will defer retirement payments to union members until next year, the company said in a letter to the union last week, the latest sign the refiner is struggling to find...

Investors are neither extremely bullish nor bearish, according to Bank of America Merrill Lynch's gauge of market sentiment, as they weigh the impact of trade tensions between the United States and...

Investors rattled by lingering trade tensions between the United States and China pulled $12.27 billion from U.S.-based equity funds in the week ended Wednesday, according to data released by...

Billionaire George Soros' investment firm, Soros Fund Management Llc, raised its stake in Tesla Inc's convertible bonds due in 2021 by 17.5 million convertible bonds to 37.5 million convertible...

Some of the biggest, highest-profile U.S. hedge fund investors and money managers fell back in love with FAANGs in the first quarter, according to regulatory filings released on Wednesday.

Warren Buffett's Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief...

If your phone log is anything like mine, the list of incoming scam calls makes it look like you work for the State Department: Sri Lanka, Lithuania, Russia, Bosnia, Benin, Croatia and Sierra Leone....

Nelson Peltzs' Trian Fund Management LP may push Legg Mason Inc. to implement changes to boost returns, a person familiar with the matter said on Tuesday, the second time in 10 years that Trian has...

U.S. growth appears to be based "exclusively" on government, corporate and mortgage debt and the economy would have contracted if the United States had not added trillions in debt, Jeffrey Gundlach,...

Retirement savings can suffer from interest rate moves, market volatility and other financial risks, but depression can be just as damaging.

Asset manager Neuberger Berman on Monday urged shareholders of Verint Systems to vote for its three director nominees and asked the data analytics company to detail its cloud strategy.

Many Hollywood stars are known for their lavish spending, but Hill Harper is far on the other end of the spectrum. He gives out sound money advice - not in character on TV, but in real life, with his...

Preventing injuries from running shoes is a science for Jim Weber, the chief executive of Brooks Running, a unit of Warren Buffett's Berkshire Hathaway Inc.

Global equities have seen outflows of $20.5 billion in the past week as "trade deal trauma" pushed more money into bonds, Bank of America Merrill Lynch said on Friday, the latest sign of how growing...

After a one-year pause, the hedge fund industry schmooze fest organized by Anthony Scaramucci, the investment manager who briefly served as President Donald Trump's communications director, returned...