He re-iterated his “buy” rating on the social networking company’s stock. Morris raised his price target on Twitter to $41 from $33, citing improved user engagement on the platform - something that he attributes to positive changes in management.Additionally, he views the presidential election cycle as a potential tailwind for the company to garner user engagement and advertising revenue. The analyst also raised his rating on Facebook stock to "buy" from "neutral", and increased his price target to $200 from $17 on the same.

Following a downgrade from Morgan Stanley analysts, Micron Technology shares declined around -2.5% Thursday. Morgan Stanley analysts Joseph Moore and Craig Hettenbach lowered their rating on Micron to underweight from equal weight.In addition to citing "much too optimistic" future earnings expectations as a reason behind the downgrade, the analysts also pointed towards potential headwinds from the semiconductor firm’s rising inventory for DRAM and other chips – which the analysts fear could be a drag on product price and margins. The analysts also reduced their 12-month price target to $32 a share, although they expect the longer-term range to be between $30 and $60.  

The company is also pulling out from its low-end wine brands, apparently to focus on better selling products. Comparable earnings for the three months ending February came in at $1.84 per share, down -3.15% from the year-ago quarter, but higher than the Street estimate of $1.72 per share. The company’s sales of $1.797 billion also beat analysts' estimates of $1.73 billion. It is probably this shift in consumer choices that has led Constellation to re-allocate its business more towards beer and other high-end beverages. On Wednesday, Constellation announced plans to sell off about 30 brands from its wine and spirits portfolio to E. & J. Gallo Winery for $1.7 billion.

Oil inched toward the $70-a-barrel mark in London and then stumbled Wednesday, after a report showed U.S. crude supplies rising by the most since January and production reaching a record. Read More...

Verizon Communications Inc. VZ 0.58% said Wednesday morning it turned on its 5G Ultra Wideband Network a week earlier than previously planned. Read More...

Tobacco stocks dipped Wednesday after the Food and Drug Administration said it was investigating nearly three dozen cases of people who had seizures after vaping. Read More...

However, the company’s more expensive offerings, like the GMC Sierra crew cab pickup, sold out. The company further disclosed that sales of smaller crossovers such as the Chevrolet Trax and Equinox, as well as its midsize Chevrolet Colorado pickup, had a good first quarter, but the major hit was the GMC Acadia SUV. Midway through the year, the company plans to launch more full-size pickups with two new heavy duty pickups from Chevrolet and GMC.More facilities are set to be opened in Flint to up these productions. The company’s overall sales decline is due to the poor performance of the traditional passengers cars that seem to have had its day.

Economic growth worldwide has taken a hit, and India is not outside the softening growth projections.A fair comparison could be made with China for whom the Sino-American trade war is proving hazardous.

They believe that the company may have gone overboard during its IPO last week, expecting that people would forego their own vehicles in favor of ride-hailing services.As a result, investors may need to take a leap of faith in order to justify the current market valuation of Lyft. Lyft sees service transportation market worth $1.2 trillion in the U.S.

Ford, General Motors (GM) and Toyota, together with SAE International, have established a new consortium that will focus on the safety of autonomous vehicles. In a statement Wednesday, SAE International, a global association of engineers, said the Automated Vehicle Safety Consortium (AVSC) would work “to safely advance testing, pre-competitive development and deployment of SAE Level 4 and 5 automated vehicles.”  READ MORE...

1 on job-search site Glassdoor for Gen Z applicants, claimed IBM CEO Ginni Rometty at CNBC’s @ Work Talent + HR Summit on Tuesday in New York City. But that’s not the only way the technology giant, which employs roughly 350,000 workers, knows who in the workforce is currently searching for a new position.IBM artificial intelligence technology is now 95 percent accurate in predicting workers who are planning to leave their jobs, said Rometty.

The EU aims to announce whether Amazon’s data practices will be investigated further in the coming months, the institution’s competition chief told CNBC. In September, Margrethe Vestager, the head of competition policy in Europe, opened a preliminary probe into Amazon’s use of data on its third-party merchants.READ MORE...

American and Chinese officials negotiating a trade deal have resolved most of the outstanding issues but are still haggling over how to implement and enforce such an agreement, the Financial Times reported late Tuesday. Both countries have yet to agree on a number of important issues.READ MORE...

President Trump has so far been short on details about his threat to close the border with Mexico, but any move that would shut down or hinder $1.7 billion in daily cross-border trade could have far-reaching consequences for the U.S. economy.Some economists predict a follow-through could negatively impact U.S. auto production, pork producers, dairy farmers, and grocery shoppers in the face of steep price increases (if supplies plummet). Amid warnings from his Republican allies and his advisers, however, Trump has walked back from his threat to shut the border if Mexico didn’t stop the flow of Central Americans heading north.

This was the strongest reading since 512.9 in the week of Oct. 14, 2016. Interest rates on 30-year “conforming” mortgages, or home loans with balances of $484,350 or less, averaged 4.36%, the lowest since the week of Jan. 19, 2018.They were 4.45% a week earlier.  “There was a tremendous surge in overall application activity, as mortgage rates fell for the fourth week in a row,” Joel Kan, MBA’s associate vice president of economic and industry forecasting, said in a statement.

U.S.services sector activity hit a more than 19-month low in March and private payrolls grew less than expected, underscoring a loss of momentum in the economy that supports the Federal Reserve’s move to suspend interest rate hikes this year. Read more...

Raytheon shares declined about -3% Wednesday, following a downgrade by a UBS analyst. Analyst Myles Walton lowered his rating on the defense contractor’s stock to neutral from buy, while also reducing his 12-month price target to $200 from $220. Walton mentioned in a note to clients that Raytheon already has outperformed the large-cap defense average by around 900 basis points this year, and that it is already below average free cash flow yield for 2019 and 2020.  In February, Raytheon reported its revenue falling short of expectations, and also expressed a cautious guidance. However, Raytheon’s upcoming projects might indicate a ray of hope for the firm.On Tuesday, the company announced that the U.S. Air Force Life Cycle Management Center and a consortium of tech firms led by Raytheon would be collaborating on modernizing the Space Defense Operations Center, which is a 1990s system that monitors space debris.  

Blue Apron shares jumped +16% on Wednesday, on news that the meal-kit company’s CEO Bradley Dickerson has resigned. Dickerson became CEO only a few months after the company went public in 2017.Following his resignation, Dickerson will be replaced by Linda Kozlowski. Kozlowski served as chief operating officer of Etsy from May 2016 to December 2018.  The company has been struggling with sluggish sales for a while, and its shares are down nearly -90 percent since its IPO.

Signet Jewelers’ adjusted earnings for its fiscal fourth quarter beat analysts’ expectations, but declined from the year-ago period. The world's largest retailer of diamond jewellery incurred a net loss of -$116.2 million (or a loss of -$2.25 a share) for the three months ended Feb.2, compared to the year-ago quarter’s profit of $343 million (or $5.24 earnings a share). However, adjusted earnings of $3.96 a share managed to surpass analysts’ expected $3.81 a share (based on FactSet data). Signet’s total sales declined from the year-ago period to $2.15 billion, although the figure exceeded consensus estimates of $2.14 billion (based on FactSet data)." Looking ahead, Signet expects its adjusted earnings to range between $2.87 and $3.45 per share, in line with current FactSet consensus estimates of $3.13 per share.

Viacom is set to become T-Mobile’s first media partner for the latter’s new TV service. T-Mobile, the third largest U.S. mobile service, has been planning for its new streaming service for a while, during which it apparently met with delays due to the project’s complexity.Teaming up with Viacom would mean live-streaming channels like MTV, Comedy Central and Nickelodeon as well as offer on-demand shows on its upcoming wireless TV service.