Investing

J.P. Morgan Chase poached a senior executive from Google amid a war for talent among corporations seeking to create the next generation of artificial intelligence-powered services. The bank hired Apoorv Saxena, Google‘s head of product management for cloud-based artificial intelligence, according to a memo obtained exclusively by CNBC. Saxena will be joining the firm on
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If you’re trying to figure out when bitcoin’s slump will end, you may want to look at the emerging markets. According to Fundstrat Global Advisors’ Thomas Lee, there’s an important correlation budding between emerging markets and bitcoin, the most dominant coin in the cryptocurrency space.” “Both really essentially peaked early this year, and they both
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Tiffany shares will rise as the company benefits from strong demand in China, according to Credit Suisse. The firm reiterated its outperform rating for the retailer’s shares, predicting the company will report sales above expectations for its second quarter. China sales represent approximately 15 percent of Tiffany’s revenue, analyst Michael Binetti said Friday in a
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Jefferies is getting more optimistic on rising wages, seeing a shift in several global labor markets as helping companies which sell to consumers. “An embryonic wage cycle is appearing in Japan, US, Netherlands and Germany as tight labor markets force companies to raise salaries,” Jefferies analyst Sean Darby wrote in a note published Thursday. Whether
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Jefferies is getting more optimistic on Salesforce shares due to its strong deal pipeline. The firm reiterated its buy rating for Salesforce stock, predicting the cloud computing software company will report sales growth above expectations this fiscal year. Salesforce will report its fiscal second-quarter results on Aug. 29. “We believe that CRM will meet or
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The so-called “smart money” hedge funds are dramatically underperforming this year. Goldman Sachs explained the weakness is the result of big positions in Facebook shares and disastrous bets against stocks. The firm said the average stock hedge fund is down 1 percent this year through Aug. 17 versus the S&P 500’s 8 percent gain. “Volatility
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