Bank of China is one of the major state-owned banks in China. The picture shows a branch in Shanghai on March 27, 2023. Bloomberg | Bloomberg | Getty Images BEIJING — China’s biggest banks cut interest rates for depositors on Thursday in a bid to boost economic growth amid a sluggish recovery in consumption. The … Read more
Goldman Sachs is bullish on generative artificial intelligence: It expects it to drive the broader S&P 500 — and one particular sector of tech — higher. The artificial intelligence-fueled rally has already lifted the S&P 500 to this year’s highs, but Goldman Sachs predicts further gains to come. “We believe further gains in S&P 500 … Read more
Market Movers rounds up the best reactions from Amazon investors and analysts. Experts, including Jim Cramer, discussed the e-commerce giant after its shares fell 4.3% following an “open letter” from Bernstein analysts to Amazon CEO Andy Jassy and the company’s board. Analysts behind the letter include Mark Shmulik, who appeared on CNBC on Wednesday. He … Read more
Gabby Jones | Bloomberg | Getty Images Check out the companies making the biggest moves midday. confirm — Shares of the payments company soared 6% after Affirm and Amazon announced a new compatibility feature.definitely Adaptive Checkoutwhich offers customers installment payment plans, will now be a payment option for merchants offering Amazon Pay. suture repair — … Read more
Rich Repetto, managing director of Piper Sandler, believes AI could change the way investors trade securities. “You look at ChatGPT, it’s just automation of decision making on steroids. I think speed, convenience, price — that’s still what drives the deal,” Repetto said in an interview with CNBC’s Bob Pisani Wednesday at the Piper Sandler Global … Read more
Camera | Electronics+ | Getty Images cryptocurrency It’s the most prevalent investment held by Gen Z investors, a trend likely due to the group growing up in an era of technological change, social media and easier access to investments, according to a new joint venture Report From CFA Institute and the Financial Industry Regulatory Authority’s … Read more
Time to buy Glaukos ahead of some “exciting” product launches, says Piper Sandler. Analyst Matt O’Brien upgraded Glaukos to overweight, saying investors were ignoring its potential to treat glaucoma, corneal disease and retinal disease — namely iDose and iStent. “While the name has had a run in recent weeks after the iDose NDA submission, we … Read more
Canaccord Genuity says Mobileye Global is a leader in autonomous driving technology and a buying opportunity for investors. Analyst George Gianarikas initiated coverage on Mobileye with a buy rating and a $50 price target, calling the self-driving car technology stock a sustainable play that will also improve the supply chain. “We believe autonomous vehicles (AVs) … Read more
A Netflix gift card is seen in a store in Krakow, Poland, on June 13, 2022. Jakub Poldsky | Nurphoto | Getty Images Check out the companies making headlines in premarket trading. tesla — Shares of the electric automaker rose more than 3% in premarket trading after an update on the company’s website showed new … Read more
Broadcom remains a “best-in-class” buying opportunity as artificial intelligence drives profitability, according to Bank of America. Analyst Vivek Arya reiterated his buy rating on Broadcom following CEO Hock Tan’s keynote address at the Bank of America Global Technology Conference. “Management has a compelling and unique vision of a focus on premium compute/networking products, a focus … Read more