17 May

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Stellantis to detail Foxconn strategic partnership on Tuesday By Reuters

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By Giulio Piovaccari MILAN (Reuters) -Carmaker Stellantis and Foxconn said they plan to announce a strategic partnership on Tuesday, adding to a string of such deals by the Taiwanese iPhone assembler. The partnership is expected to focus on a wide technological cooperation, after last year Fiat Chrysler, now part of Stellantis, said it planned to set up a joint venture with Hon Hai Precision Industry, Foxconn's parent company, to build electric cars and develop internet-connected vehicles in China. However, finalising the deal was delayed by merger talks between Fiat Chrysler and France's Peugeot maker PSA, which...

17 May

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AT&T to bow out of media through $43 billion deal with Discovery By Reuters

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By Kenneth Li and Subrat Patnaik (Reuters) -AT&T, owner of HBO and Warner Bros studios, and Discovery, home to lifestyle TV networks such as HGTV and TLC, said on Monday they will combine their content assets to create a standalone global entertainment and media business. Discovery Chief Executive David Zaslav will lead the proposed new company, which will comprise one of Hollywood's most powerful studios, including the Harry Potter and Batman franchises, news network CNN, sports programming and Discovery's unscripted home, cooking and nature and science shows. Shares in Discovery climbed about 16% to $41.3...

17 May

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Children’s Place Rallies on Street-High Price Target, Buy Ratings By Investing.com

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By Christiana Sciaudone Investing.com -- Children's Place (NASDAQ:PLCE) popped more than 8% after getting a Street-high price target and two upgrades. Wedbush and Monness, Crespi and Hardt both bumped their ratings to buy-equivalents, with the former more than tripling the price target to $150 from $48. Shares are at a two-year high. The Children's Place saw its first loss in four years for the quarter ended in April 2020, also known as a good month-plus into the pandemic. It has since seen a recovery in profit and sales despite so many kids out of school, parties,...

17 May

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Twitter Moves Sideways On Talk It Could Launch Subscription Services By Investing.com

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By Dhirendra Tripathi Investing.com – Twitter (NYSE:TWTR) shares erased their early losses and were trading a tad higher amid talk the social media site could opt for a tiered pricing structure for using its platform. According to tipster Jane Manchun Wong, Twitter’s upcoming subscription service, likely to be called "Twitter Blue," would be priced at $2.99 a month for now. Social media platforms are mostly free, and it’s usually difficult to make users pay for the services. Twitter CEO Jack Dorsey had last year said the company was exploring a subscription model. A tiered pricing model...

17 May

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Harley-Davidson Snags a Citi Price Target Bump By Investing.com

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By Christiana Sciaudone Investing.com -- Harley-Davidson (NYSE:HOG) rose more than 3% as Citi bumped its price target on the stock on a strong consumer rebound. Analyst Shawn Collins raised the price target to $55 from $39 and maintained a buy rating, according to StreetInsider. Harley-Davidson's in the midst of a turnaround that appears to be bearing fruit. Shares soared last month after the bike company raised guidance and reported much better results than expected for the first quarter. Earnings per share of $1.68 was almost double what analysts had forecast on sales of $1.42 billion, compared...

17 May

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Microsoft says it investigated Gates’ involvement with employee By Reuters

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(Reuters) - Microsoft (NASDAQ:MSFT) conducted a probe into co-founder Bill Gates' involvement with an employee almost 20 years ago after it was told in 2019 that he had tried to start a romantic relationship with the person, the company said on Monday. Microsoft said it had received a concern in the latter half of 2019 that Gates "had sought to initiate an intimate relationship with a company employee in the year 2000," a Microsoft spokesman said in a statement. "A committee of the Board reviewed the concern, aided by an outside law firm to conduct a...

17 May

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Exclusive: Goldman to launch Marcus UK robo-adviser early next year By Reuters

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By Anna Irrera LONDON (Reuters) - Goldman Sachs (NYSE:GS) will launch an app for UK users of its digital bank Marcus over the following weeks and plans to offer automated investment management to clients in the country by the first quarter of next year. The U.S. bank has attracted just over $30 billion in UK deposits since launching a savings account in 2018, accounting for 30% of Marcus's deposits globally, Des McDaid, the head of Marcus UK, told Reuters. "We are pivoting more into an investment and wealth provider rather than a full service digital bank,"...

17 May

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Musk Hits Crypto, AT&T/Discovery and China’s Rebound – What’s Moving Markets By Investing.com

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By Geoffrey Smith Investing.com -- Elon Musk rattles cryptocurrencies – and stock futures - with a fresh blast against Bitcoin. AT&T (NYSE:T) and Discovery (NASDAQ:DISCA) are on the verge of merging their media assets. China’s economic rebound loses steam as the year-earlier weirdness passes out of its calculations, and England takes its biggest step back to economic normality – just as a new strain of Covid-19 arrives on its shores. Here’s what you need to know in financial markets on Monday, May 17th. 1. Musk stirs trouble in Cryptoland Crypto assets sold off sharply across the board...

17 May

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Bitcoin hits 3-month low and then rallies on Musk tweets By Reuters

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By Tom Westbrook and Kevin Buckland LONDON (Reuters) -Bitcoin rallied from a three-month low on Monday in a volatile session that saw investors initially selling and then buying cryptocurrencies in the wake of Tesla boss Elon Musk's tweets about the carmaker's bitcoin holdings. In his latest tweet, Musk said "Tesla has not sold any bitcoin". That seeming clarification came after weekend tweets hinted that Tesla was considering or may have already sold some of its massive holdings. Musk has boosted crypto markets with his enthusiasm for the asset class, but has lately roiled trade by appearing...

17 May

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UK water watchdog plans 2.8 billion pound backing for green projects By Reuters

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(Reuters) - Britain's water regulator set out a 2.8 billion pound ($3.95 billion) green investment plan on Monday as it aims to lower pollution by utilities, some of which have come under fire for their environmental performance. Watchdog Ofwat said it is backing Severn Trent (LON:SVT) Water, South Staffs Water, Pennon-owned South West Water, Thames Water and United Utilities on new green investment projects worth more than 850 million pounds. It also proposed a further 1.9 billion pounds for future environmental projects in the UK, which is targeting net-zero carbon emissions by...

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Stellantis to detail Foxconn strategic partnership on Tuesday By Reuters

AT&T to bow out of media through $43 billion deal with Discovery By Reuters

Children’s Place Rallies on Street-High Price Target, Buy Ratings By Investing.com

Twitter Moves Sideways On Talk It Could Launch Subscription Services By Investing.com

Harley-Davidson Snags a Citi Price Target Bump By Investing.com

Microsoft says it investigated Gates’ involvement with employee By Reuters

Exclusive: Goldman to launch Marcus UK robo-adviser early next year By Reuters

Musk Hits Crypto, AT&T/Discovery and China’s Rebound – What’s Moving Markets By Investing.com

Bitcoin hits 3-month low and then rallies on Musk tweets By Reuters

UK water watchdog plans 2.8 billion pound backing for green projects By Reuters

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