Apple turned in stronger than expected fourth-quarter results but a second consecutive quarter of strong growth for wearables impressed analysts, who are looking for the tech giant to innovate beyond the iPhone. “Wearables continue to lead growth. Morgan Stanley has an overweight rating on Apple’s stock with a $296 price target. Apple shares rose 1.7% in trading Thursday from its previous close of $243.26 a share, after reporting solid fourth-quarter earnings and predicted strong iPhone sales. B

In an effort to grow its subscriber base for its services business, Apple has been selling iPhones with lower prices. “IPhone revenues were in-line, but we believe ASPs [average selling prices] were weaker,” Barclays IT hardware analyst Tim Long said in a note to clients Thursday. Barclays now estimates a 12% average selling price decline in 2019 and a 6.5% average selling price decline in 2020. Long was originally bullish on Apple’s lower pricing strategy. But he said he didn’t realize average

“The manufacturing recession, globally and particularly in the United States, is one of the primary reasons that people fear a recession,” he told CNBC’s “Trading Nation” on Wednesday. “That really set off a sell-off in the stock market and escalated recession fears,” said Paulsen. Paulsen, who correctly predicted a sharp rebound from last December’s historic plunge, expects better manufacturing data will set off a bullish chain reaction. “Earnings estimates will start to rise, and that could re

“Trade tensions also remain a key area of concern,” Jim Suva, Citi’s senior tech analyst said in a note Wednesday after the earnings report. On the plus side, Trump tweeted later in the morning that the U.S. and China would be signing “phase one” of the trade deal soon. The iPhone maker has been among the companies Wall Street believes most vulnerable in a full blown trade war. However, CEO Tim Cook struck an optimistic tone on the trade war on Wednesday during an earnings call. Wall Street anal

On Wednesday, Dorsey announced that Twitter would no longer allow political advertising globally. “I think there are good reasons for this,” Zuckerberg said about allowing false political ads to run on Facebook. “These challenges will affect all internet communication, not just political ads,” Dorsey tweeted Wednesday. Both Facebook and Twitter say political advertising only makes up a tiny fraction of their overall advertising revenues. It can only do more good than harm to cut out political ad

Trump: China, US working on finding a new location to sign phase one trade dealPresident Trump tweeted on Thursday morning that officials are working on selecting a new location for signing ‘Phase One’ of the US-China trade deal and that it would be announced soon.

The Fed is moving into a wait-and-see phase, says former Atlanta Fed presidentDennis Lockhart, former Atlanta Fed president, and CNBC’s Steve Liesman join “Squawk Box” to discuss the latest economic data the Fed’s interest rate cut.

The Nasdaq was looking to buck the Thursday down trend, with Apple and Facebook shares up sharply in the premarket after the tech giants reported better-than-expected quarterly earnings and revenues. The Dow and Nasdaq, as of Wednesday’s close, were each less than 1% away from their July record highs. Facebook posted earnings of $2.12 per share in the third quarter on quarterly revenue of $17.65 billion. Prakash Singh | AFP | Getty ImagesAs Facebook was reporting earnings late Wednesday, Twitter

Bristol-Myers Squibb (BMY) – The drugmaker came in 10 cents above estimates with adjusted quarterly earnings of $1.17 per share, with revenue above estimates as well. Generac (GNRC) – The maker of home and commercial generators reported adjusted quarterly profit of $1.43 per share, 10 cents above estimates, with revenue also beating Wall Street forecasts. Apple (AAPL) – Apple reported quarterly profit of $3.03 per share, beating the consensus estimate of $2.84. Starbucks (SBUX) – Starbucks match

Actor Hugh Grant has become embroiled in an unlikely argument with the U.K.’s finance minister over a handshake — or the lack of one — at a movie premiere. Grant, who is no stranger to controversy, reportedly refused to shake the hand of Sajid Javid at the event in London. In a magazine interview published Thursday, Javid said he extended his hand to the Hollywood actor at the launch of Grant’s film “The Irishman.” He then said: “Lovely to meet you,” but the actor refused to shake his hand. Javi

Volkswagen’s top finance executive has underlined how important it is for the automaker to carefully transition to electric vehicles while not hurting its ability to make money. “We gave guidance for 2020 and 2025, it is a balancing act with more electric vehicles coming to market and the different level of profitability,” he told CNBC. But in May, Witter said that electric vehicles would “put substantial pressure on the overall group margin,” according to Reuters. That facility is currently und

Verizon, which expanded its operations in India over 10 years ago , was the first company in the U.S. to roll-out 5G . India is just as big a player in tech innovation as China or the U.S., according to a senior executive at one of the world’s largest telecoms providers. With a population of 1.3 billion people, Dunne added, India is the largest consumer market in the world outside of China. “I don’t see India catching up with the U.S. or China any time soon,” he told CNBC. Meanwhile, Shumita Dev

The European Central Bank (ECB) needs to reinvent itself and come up with new policy tools as its bond-buying program is no longer effective, Yanis Varoufakis, Greece’s former finance minister told CNBC Thursday. When yields on European government bonds rise, countries have to pay more to finance themselves and service their debts, thus hurting balance sheets. Some active ECB members criticized the decision to announce a second round of QE without a clear end date. “QE the way it has been restru

The early signs of an intense trade conflict between the U.S. and the EU may have appeared this month, but the two sides have also quietly started talking in a bid to resolve certain issues. In an email to CNBC, the European Commission confirmed the phone call saying the two spoke regarding the Airbus and Boeing cases at the World Trade Organization (WTO). “Commissioner Malmström reiterated the EU’s desire to find a negotiated solution,” a spokesperson for the Commission said Thursday morning. T

“We are pleased to have obtained Denmark’s consent to construct the Nord Stream 2 Pipeline,” Samira Kiefer Andersson, a Nord Stream 2 official, said in a statement on Wednesday. The route of a proposed new gas pipeline from Russia to Europe. Nord Stream 2 says the pipeline “benefits all of Europe, including millions of consumers in terms of lower energy prices.” I would be surprised if the U.S. does not roll out sanctions on things related to Nord Stream. Nord Stream 2 pipes are loaded onto a ve

President Donald Trump said Thursday a new location for signing the “phase one” U.S.-China trade deal will be announced soon after the initial gathering in Chile was canceled due to protests. “China and the USA are working on selecting a new site for signing of Phase One of Trade Agreement, about 60% of total deal, after APEC in Chile was canceled do to unrelated circumstances,” Trump tweeted on Thursday. “The new location will be announced soon. President Xi and President Trump will do signing!

Dunkin’ Brands Group Inc reported lower-than-expected quarterly same-store sales in its namesake donut and coffee chain on Thursday, as it struggled to attract diners in a crowded breakfast and coffee market in the United States. However, the company raised its full-year earnings per share estimates to a range of $3.10 to $3.12, up from a range of $3.02 to $3.05 per share. Comparable sales at Dunkin’s U.S. stores grew 1.5% in the third-quarter ended Sept. 28, below the estimates of 1.7% rise, ac

A trader laughs ahead of the closing bell on the floor of the New York Stock Exchange (NYSE) on February 1, 2019 in New York City. The stage appears to be set for stocks to shine after the Federal Reserve’s third rate cut and its signal to stop from now. The move was particularly beneficial for cyclical stocks including tech, energy and industrials as investors bet on economically sensitive pockets of the market after Fed rate cuts. As monetary easing is designed to jolt the economy, investors t

Singapore is ready for IMO 2020: International Chamber of ShippingGuy Platten of the International Chamber of Shipping says he’s confident there will be sufficient supply of IMO-compliant fuel in 2020. He also weighs in on the impact of Brexit and U.S.-China relations on shipping.

Automakers Fiat Chrysler and Peugeot annouce intention to mergePeugeot (PSA) and Fiat Chrysler (FCA) confirmed their intention to merge on Thursday, in what would be a 50-50 share swap and create the world’s fourth-largest carmaker. CNBC’s “Squawk Box” crew reports.