Caterpillar could have a rosy road ahead, according to Evercore ISI. Evercore upgraded the construction equipment stock to outperform from in line on Monday, and raised its price target to $476 per share from $373. Evercore’s forecast calls for more than 15% upside from Monday’s $412.64 close. The firm also added Caterpillar to its five favorite stocks. Analyst David Raso pointed to the company’s volume leverage and geographic mix as a bright spot in a difficult construction segment overall, and said the U.S. is where “the end of machine destocking will be the most beneficial.” CAT YTD mountain Caterpillar stock…
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Treasury Secretary Scott Bessent said Tuesday he will begin interviewing candidates for Federal Reserve chair as soon as the White House whittles down what has suddenly become a crowded field.In a CNBC “Squawk Box” interview, Bessent confirmed the race to replace current Chair Jerome Powell is between 11 candidates, an array that includes past and present central bank officials as well as economists, a White House advisor and a few Wall Street market experts.”In terms of the interview process, we’ve announced 11 very strong candidates. I’m going to be meeting with them probably right after, Labor Day, and to start…
Jaque Silva | Nurphoto | Getty ImagesJeff Wang got a big promotion last month. There were lots of tears, but not the happy kind.The 39-year-old was unexpectedly named interim CEO of artificial intelligence coding startup Windsurf. The company had been in discussions with OpenAI about a potential acquisition that would have resulted in a handsome payday for many employees. But the talks fell apart and, on July 11, several founders and top researchers instead left to join Google as part of a $2.4 billion licensing deal. As one of the highest-ranking executives remaining at Windsurf, Wang was elevated to the top…
The brand logo for My Source News Opinion WorldCourtesy of VersantMSNBC will change its name later this year and drop the storied peacock image from its branding — the first real public-facing changes in Versant’s upcoming separation from Comcast’s NBCUniversal.The political news network will be renamed My Source News Opinion World, or MS Now, Versant Chief Executive Officer Mark Lazarus wrote in an internal memo to employees that was seen by CNBC.In January, Lazarus told a group of MSNBC staffers that the network wouldn’t change its name. But during the past few months of transition planning, NBCUniversal leaders decided MSNBC…
Palo Alto Networks ‘ long-term prospects are improving and could be a catalyst for the stock, according to Bank of America. The firm upgraded the cybersecurity stock to buy from neutral on Tuesday, and reiterated its $215 per share price target. BofA’s forecast calls for more than 22% upside from Monday’s $176.17 close. Shares jumped 6% in premarket trading. PANW YTD mountain Palo Alto Networks stock in 2025. Analyst Tal Liani said he expects the company’s free cash flow to “step up” from here, and added that the firm favors “technological and product leadership which should help to solidify Palo…
Signage is displayed outside Tegna Inc. headquarters in McLean, Virginia, on Friday, March, 13, 2020.Andrew Harrer | Bloomberg | Getty ImagesTelevision broadcaster Nexstar Media has agreed to acquire smaller rival Tegna for $3.54 billion, the companies said on Tuesday.The offer price of $22 per share represents a premium of nearly 44% to Tegna’s closing price on Aug. 8, before reports of a deal emerged. The deal is valued at $6.2 billion, including debt.Shares of Tegna were up 2.2% in premarket trading at $20.48, after having risen more than 20% this month on expectations of a takeover.The deal marks yet another notable…
Chief Executive of Apple, Tim Cook gives a thumb’s up during a tour the Apple Headquarters on December 12, 2024 in London, England. Chris Jackson | Getty ImagesApple clinched a major win Monday after the U.S. government announced that the U.K. had agreed to drop its demand for the company to provide a “back door” granting officials access to users’ encrypted data.The iPhone maker won’t be alone to rejoice in the outcome.The development came after extensive talks between Britain and the U.S., which had raised national security concerns over the request.At the root of the row was end-to-end encryption, a technology…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailOn today’s episode of CNBC Crypto World, bitcoin, ether and XRP tumble to kick off the week as heightened macro concerns triggered more than $500 million in forced selling of long positions. And, Caitlin Long, founder and CEO of Custodia Bank, which specializes in crypto and is based in Wyoming, discusses the Federal Reserve’s shifting stance on crypto as well as bank-issued stablecoins from the Wyoming Blockchain Symposium taking place in Jackson Hole.12:49Mon, Aug 18 20254:02 PM EDT Source link
Li Auto could have a hard time finding growth from here, according to Bernstein. The firm downgraded the Chinese electric vehicle stock to market perform from outperform on Tuesday, and trimmed its price target to $26 per share from $33. Bernstein’s forecast calls for 8% upside from Monday’s $24.05 close. Analyst Euince Lee said that she expects a “bumpier road ahead” for the company due to increasing competition and a difficult outlook. LI YTD mountain LI Auto stock in 2025. “Despite Li Auto’s pioneering role in [extended range electric vehicle] technology and significant advancements in ADAS, heightened competition in the…
Air Canada flight attendants, represented by the Canadian Union of Public Employees (CUPE) hold a picket at one of four airports to highlight their pay demands in contract negotiations with Canada’s largest airline, outside Toronto Pearson International Airport in Mississauga, Ontario, Canada August 11, 2025. Carlos Osorio | ReutersThe Air Canada strike has ended after flight attendants reached a tentative agreement with the airline, both parties said early Tuesday.”The Strike has ended,” the Canadian Union of Public Employees said in a Facebook post, advising its membership to “fully cooperate with resumption of operations.”Air Canada said it would gradually restart operations Tuesday, but…
