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German sportswear firm Adidas reported stronger-than-anticipated second-quarter net profit on Thursday, with the company saying it remains firmly on track to hit its full-year targets despite taking an impairment charge on its struggling Reebok brand. Net profit over the second quarter rose 20 percent to 418 million euros ($485 million), beating analyst expectations of 387
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Intel’s chip manufacturing technology issues are a big problem, according to Goldman Sachs. The firm lowered its rating to sell from neutral for Intel shares, citing its repeated delays in moving to its next generation chip process technology. “We see Intel’s struggles with 10nm process technology having ramifications in terms of its competitive position –
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Dropbox said on Thursday that its chief operating officer, Dennis Woodside, is stepping down. The company isn’t naming a successor but is announcing two executive promotions. Dropbox stock rose and then fell more than 5 percent after the company also announced better-than-expected earnings for the second quarter. Dropbox will hold a conference call with analysts
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The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Intel Karen Finerman was a buyer of Lowe’s Dan Nathan was a buyer of Twitter Guy Adami was a buyer of Ralph Lauren Trader disclosure: On August 9, 2018 the following stocks and commodities mentioned or intended
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In May, Facebook said David Marcus was leaving his role running Messenger to start an internal blockchain initiative. Since the moment, a big question has been circling in the crypto world: What about his seat on Coinbase’s board? Coinbase, the leading exchange for bitcoin and other digital currencies, is the clear breakout success in the
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Oppenheimer downgraded its rating of Tiffany shares to “perform” from “outperform” on Friday, saying “recent shifts in global currencies could weigh upon domestic sales to foreign tourists” for the luxury retailer. The firm pointed to a chart comparing the Chinese yuan to Tiffany’s sales in the U.S., saying the “devaluation of Chinese currencies could impact
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Dropbox fell as much as 10 percent during Friday’s open after its announcement on Thursday that chief operating officer, Dennis Woodside, will be stepping down in September. The cloud services company reported strong second-quarter earnings after the bell on Thursday, beating Wall Street expectations on revenue and earnings per share. But investors seem to be
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News Corp topped Wall Street profit targets on Thursday, as it benefited from gains at its newly acquired TV network and recorded double-digit growth in its real-estate listings and book publishing businesses. News Corp’s subscription video services division that includes Australian pay TV company Foxtel — acquired by Rupert Murdoch-controlled News Corp earlier this year
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Check out the companies making headlines after the bell: Tesla‘s stock rose more than 3 percent during after-hours trading after a CNBC report that the Tesla board plans to tell Elon Musk to recuse himself from a board review of his proposal to take the company private. Sources familiar with the matter said the electric
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