Square stumbles into the banking business
Square customers are treating the payment company’s Cash app more like a bank account than the company intended, CEO Jack Dorsey said this week. While that wasn’t a goal, he said Square plans to capitalize on the trend. “People are...
Netflix is reportedly turning the Michael Lewis book ‘Flash Boys’ into a movie
Netflix has snagged a project based on Michael Lewis’ 2014 non-fiction book, “Flash Boys,” according to Deadline.
Campbell’s Soup blows up Secretary Ross claim tariffs wouldn’t hurt them — and he pushes back anyway
In March, Commerce Secretary Wilbur Ross held up a can of Campbell’s Soup to demonstrate how benign the effects would be of steel and aluminum tariffs. In an earnings call Friday, a Campbell official held up the tariffs as a...
Dell remains focused on a VMware merger, and now it’s getting feedback from tracking stock holders
Dell has begun talking to holders of its VMware-tracking stock, DVMT, to gauge their interest on a merger with VMware, according to people familiar with the matter. Dell remains bullish on VMware’s future and wants to own as much of...
Bitcoin rally this week fails to materialize as New York conference brings more hype than substance
Despite calls that bitcoin would rally throughout New York City’s “Blockchain Week,” the cryptocurrency’s price has dropped about 10 percent since the festivities kicked off. Bitcoin fell below $8,000 as the conferences wrapped up Friday, hitting a low of $7,931.43...
Applied Materials, barometer for chip industry, drops the most in 9 years on weak forecast
Shares of Applied Materials fell sharply Friday after the company lowered its current-quarter revenue and sales projections in its semiconductor business below Wall Street expectations. Shares of the company, one of the globe’s largest supplier of tools used by chipmakers,...
David Tepper gets US approval to take activist stance on Allergan, if he wants it
Allergan could face activist pressure from David Tepper’s Appaloosa Management after the Federal Trade Commission cleared the way for him to build on his stake in the drugmaker. Shares rose 3.7 percent on Thursday but were trading down Friday after...
Your first trade for Friday, May 18
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of EOG Resources. Karen Finerman was a buyer of Golar. Steve Grasso was a buyer of Alibaba. Guy Adami was a buyer of...
Grammy-winning Fugees founder bringing blockchain to your smartphone
Grammy-award winning rapper and founding member of the Fugees Pras Michel is launching a blockchain-enabled smartphone that lets users earn dividends on every purchase. The phone is part of Michel’s digital platform Blacture, which was announced in a 2018 Super...
Spotify subscribers to double to 150 million by 2020, Raymond James predicts
Spotify represents a compelling buying opportunity thanks to one of the best growth outlooks in technology, with subscribers set to double by 2020, according to Raymond James. The company’s key drivers, including market share gains, new geographies and family plans...
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