Apple’s shares rose about 2% on Monday after Morgan Stanley raised its price target on the iPhone maker’s shares and designated the stock as a “top pick,” citing the company’s AI efforts as a boost to device sales.
Goldman Sachs’ profit more than doubled in the second quarter, bolstered by debt underwriting and fixed-income trading, but results slipped from a bumper first quarter when the Wall Street giant reported its highest earnings since 2021.
China’s economy grew much slower than expected in the second quarter as a protracted property downturn and job insecurity knocked the wind out of a fragile recovery, keeping alive expectations Beijing will need to unleash even more stimulus.
U.S. auto retailer AutoNation said on Monday it expects a $1.50 per share hit to its second-quarter profit due to the disruptions caused by a cyberattack at retail technology provider CDK in June, a crucial selling period for car dealers.
The cost to ship a standard 40-foot container of toys, auto parts or other goods from Shanghai to New York has jumped to nearly $10,000, fueling frustration among importers and prompting some experts to say the market is in a bubble.
SolarEdge Technologies said on Monday it would lay off 400 employees, of which 200 are in Israel, as it works to restore profitability and ensure financial stability.
Global smartphone shipments rose 6.5% in the second quarter, driven by Samsung Electronics and Apple, preliminary data from IDC showed on Monday, but a full recovery in demand is yet to come around as it remained challenged in some markets.
Crypto stocks, prison operators and other shares that could benefit from a Donald Trump presidency in the U.S. jumped during premarket trading on Monday as the Republican candidate’s odds of winning rose after an assassination attempt at a rally.
