European stocks rebounded after the biggest one-day drop since November, alongside S&P futures, while Asian equities posted modest declines after yesterday's weak US close. Gold and yen slid, while the dollar gained on the latest Mnuchin comments to the FT according to which Trump was "absolutely not" trying to talk down the dollar.
One week ago, when shares of the UK-based Imagination Technology crashed 70% overnight after Apple announced it would cease using the tech company's graphics technology for new products, including phones, tablets, and watches, in a push to insource key R&D as well as preserve capital, Neil Campling, head of technology research at Northern Trust Securities, said that "this is what we would describe as a black swan moment for the company and investors in Imagination."
Who says activist investors are dead, swallowed whole by the relentless passive, ETF wave?
Moments ago Whole Foods, which has seen its stock suffer a painful decline for the past two years, spiked on a WSJ report that Barry Rosenstein's Jana Partners has amassed a 9% stake in WFM and is pushing the organic grocer to speed up its turnaround efforts while also exploring a possible sale.
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Authored by James Holbrooks via TheAntiMedia.org,
“At its core was a question: do we want to be as connected to our foreign policy as we are to our smartphones? My hypothesis was no. Americans don’t care about the drone war because it is largely hidden from view.”