Stocks rise after Big Tech crushes earnings—Five pros on what the numbers mean

Amazon, Google parent Alphabet, Apple and Facebook reported better-than-expected quarterly earnings Thursday. Five pros break down the company earnings and why they don't see the gains ending anytime soon. Howard Ward, CIO of growth equities at GAMCO, applauds Amazon for its long-term focus.  "When you look at Amazon in particular, Amazon is a stock that […]

DraftKings extends deal with PGA Tour to become official betting operator

DraftKings' extension with PGA Tour gives the company rights to use PGA Tour trademarks and will have advertising options on PGA Tour platforms. DraftKings is enhancing its sports sponsorship portfolio as leagues continue to resume operations suspended due to Covid-19. The betting company announced it secured a deal with the PGA Tour that assigns DraftKings […]

Cramer says market moves are 'crazy' but 'please just stop comparing it to 1999'

The performance of these large tech stocks has propelled the Nasdaq well beyond the S&P 500 this year. Cramer said Microsoft was "trading like a small cap." "A lot of unbelievably great companies are gaining market cap at a pace that you've got to give them a speeding ticket," Cramer said on "Squawk Box." CNBC's […]

Chinese Tesla rival Xpeng Motors raises $500 million as it begins deliveries of new sedan

Chinese electric car company Xpeng Motors has raised $500 million in funding. The funding came from a group of investors including Aspex, Coatue, Hillhouse Capital and Sequoia Capital China. China's electric vehicle sector has been hit hard by the coronavirus pandemic. Chinese electric car company Xpeng Motors has raised fresh funding as competition continues to […]

AG Barr slams U.S. tech companies for becoming 'pawns of Chinese influence'

U.S. Attorney General William Barr blasted U.S. tech giants Google, Microsoft, Yahoo, Apple and Cisco as well as Hollywood for being "all too willing to collaborate with the Chinese Communist Party." Barr called some U.S. technology companies "pawns of Chinese influence." Apple and Cisco rebuked some of the claims made by Barr in responses provided to […]

Warren Buffett reaps $40 billion from giant Apple stake since March bottom

Berkshire Hathaway's Apple stake — which is now 40% of its equity portfolio — is up a whopping $40 billion since the bottom in March. The investment in the tech giant played a crucial role in helping the conglomerate weather the coronavirus crisis as other pillars of its business, including insurance and energy, took a huge hit. "Had […]

Amazon restricts warehouse storage as Covid-19 crisis continues and holidays loom

Amazon is instituting quantity limits for product shipments from third-party sellers that use its U.S. warehouses, the company announced Monday. All product categories will have quantity restrictions in order to ensure there are no delivery delays during the holiday shopping season.  Between March and May, Amazon encountered a flurry of online orders tied to the […]

One group of tech stocks could be key to the next leg of the market rally

Chipmakers are starting to play catch up. After lagging the tech rally for the year, the semiconductors space bucked broader market weakness on Thursday to head higher. The SMH semiconductor ETF is up nearly 5% this week, better than the 3% increase for the XLK technology ETF. "The semiconductor group overall has been clearly a […]

Twitter teases an edit function, but only 'when everyone wears a mask'

Twitter wants people to wear face masks to help slow the spread of the coronavirus.  Many users of the micro-blogging platform have been calling for an edit-tweet function for years.  In May, Twitter CEO Jack Dorsey pledged to donate $1 billion to support relief efforts for Covid-19 and other causes. Twitter has said it will start […]