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U.S. stocks are higher early Monday, building on last week’s bullish reversal amid a persistent crude-oil price breakout. Against this backdrop, the S&P 500 and Nasdaq Composite have rallied within striking distance of major resistance — S&P 2,710 and Nasdaq 7,320 — areas defining key technical tests.
U.S. stock indexes traded firmly higher early Monday as a rise in the price of crude oil boosted energy-related shares. The Dow Jones Industrial Average rose 185 points, or 0.8%, at 24,452, the S&P 500 index climbed by 0.5% at 2,676, with the energy sector up 1.9%. The Nasdaq Composite Index advanced by 0.9% at 7,272. Monday's moves come after a rally in shares of Apple Inc. overshadowed a lackluster April jobs report, which showed that fewer number of jobs were created in the month than had been anticipated by economists surveyed by MarketWatch. Meanwhile, crude-oil prices climbed above $70 a barrel early in the session, their highest level since 2014. With crude futures rising, investors were likely to keep a close eye on comments linked to the Iran nuclear deal. Separately, shares of Athenahealth Inc. jumped after CNBC reported that Elliott Management is preparing an all-cash deal between $155 and $160 a share for the health-care company.
Shares of Apple Inc. jumped 1.8% in morning trade Monday, and have hit a record intraday high for the second-straight session, as they look to stretch their winning streak to six sessions. That could be the longest win streak since the six-day stretch ending end Sept. 1, 2017. The stock has rallied 10.6% since Apple reported fiscal second-quarter results that beat expectations, and got an extra boost last week after Warren Buffett said he increased his stake in Apple during the first quarter. It has also rocketed 15.3% during the past six sessions, which would be the biggest six-day gain since it rose 20.0% over the six sessions ending March 17, 2009. The stock has rallied 10.5% year to date, while the technology-heavy Nasdaq 100 has climbed 6.7% and the Dow Jones Industrial Average has slipped 1.1%.
Apple's stock jumps 0.8% in premarket trade, on track to open at record intraday high
Apple's stock extends gains, climbs 0.8% premarket after previous session's record close
Warren Buffett on Saturday applauded Apple Inc.'s share repurchase program, noting that as shares are bought back, Berkshire Hathaway's stake grows on its own. Apple, which was already an aggressive purchaser of its own shares, announced a $100 billion buyback program earlier this week. Buffett on Friday revealed that Berkshire had added 75 million Apple shares to its portfolio in the first quarter, building on an already sizable stake.
Billionaire investor Warren Buffett, whose built up Berkshire Hathaway's [s:brkb] stake in Apple Inc. , was asked at the conglomerate's annual meeting why he hasn't also invested in Microsoft Corp. . Buffett quipped that the answer in regard to Microsoft's early years was his own "stupidity." More seriously, since Microsoft co-founder Bill Gates joined Berkshire's board, and even before, given their friendship, Berkshire has steered clear, he said. Buffett said the reason is the fear that if an acquisition or other news was announced after taking a stake, he "would be the target of suggestions, or accusations even, that [Gates] had told me something or vice versa." Buffett said his stockpickers have also been told to not buy the shares.
Among the companies with shares expected to trade actively in Monday's session are Berkshire Hathaway, Starbucks, Apple, Mondelez and Wells Fargo.
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Among the companies with shares expected to trade actively in Friday's session are CBS, Twitter, Tesla, Nike, Berkshire Hathaway and Newell Brands.
Licensing fees paid by Google to drive traffic were a major driver of Apple’s service revenue growth.
The Chinese smartphone giant, looking to ring up what is poised to be the world’s biggest stock sale of 2018, is looking to woo investors by casting itself as a broader provider of services and software.
Chinese smartphone maker Xiaomi has published its long-awaited listing prospectus. Earlier hopes it could be worth up to $100 billion look greatly exaggerated.
Apple launched its newest iPad late in the quarter, during which Chrome tablets also arrived.
More than half of the combined net income reported by 200 large public companies in the first quarter stemmed from a decline in the companies’ effective tax rates, a Wall Street Journal analysis of quarterly financial data from Calcbench found.
Among the companies with shares expected to trade actively in Thursday's session are Tesla, Spotify, Blue Apron, Sprint, Apple and AIG.
Taiwan Semiconductor's chairman warned that a US-China trade war could hurt Apple's business.
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Markets finished sharply higher on Friday boosted by a broader tech rally.
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Netflix's whopping 7.4 million subscriber addition in the first quarter coupled with its increased focus on original content gives it room for further upside in 2018.
Intensifying competition from internet video providers, such as Alphabet's YouTube, Netflix and Roku, which is hurting TiVo's (TIVO) subscriber base, might have affected the company's Q1 results.
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Apple's shares recorded the biggest weekly gain in six-and-a-half years and the highest five-day price gain in its history on May 4 after Buffett bought 75 million shares of the iPhone maker.
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Apple, Inc. engages in the design, manufacture, and marketing of mobile communication, media devices, personal computers, and portable digital music players. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes both North and South America. The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises of China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries not included in the reportable operating segments of the company. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA. (See Full Profile)
Name | Chg % | Market Cap |
---|---|---|
Microsoft Corp. | $731.13B | |
Nokia Corp. ADR | $34.18B | |
International Business Machines Corp. | $132.1B | |
HP Inc. | $35.58B | |
Alphabet Inc. Cl A | $729B |