Biotech is on fire — there are no two ways about it. Carter Worth, Cornerstone Macro head of technical analysis, thinks so. “There was a well-defined trendline,” Worth said Friday on “Options Action.” It has returned right to a prior high. “We are stuck, essentially, right at that high.

Boeing 737 MAX airplanes are stored on employee parking lots near Boeing Field, on June 27, 2019 in Seattle, Washington. Amarin — Shares of the biopharma company fell more than 2%, after previously spiking more than 11% in premarket trading. International Flavors and Fragrances — IFF shares dropped about 8% on news the company will merge with DuPont’s nutrition and bio-sciences division. Western Digital — Shares of Western Digital jumped more than 5% on Monday after Susquehanna upgraded the semi

Sen. Chuck Schumer is expected to hold a press conference as the House prepares to impeachment President Donald Trump and the Senate prepares for the trial. In the letter, Schumer also called for the testimony of four White House officials, including Trump’s acting chief of staff Mick Mulvaney and former national security advisor John Bolton. McConnell said on Thursday that he intends to work with the White House on the impeachment inquiry. “Everything I do during this, I’m coordinating with the

Spokespersons for Rep. Nita Lowey and Sen. Richard Shelby, the two top negotiators on the spending deal, did not immediately respond to requests for comment. Top Democrats and Republicans are rushing to strike a bipartisan deal to fund the government before money runs out Friday. Lawmakers said last week they reached a tentative deal on the overall spending bill, which reportedly includes roughly $1.38 billion in funding for President Donald Trump’s wall at the Mexican border. The House voted ba

Cleveland Research is optimistic about Apple’s stock climbing over the next two years, powered by strong iPhone revenues and its fast-growing wearables business. Apple’s stock has soared this year, up 77% so far. Cleveland Research has a buy rating on the stock and expects it to climb another 15% by the end of fiscal 2021. “Contacts in the Apple supply chain note good sales momentum continued into the holiday season,” Bollin said. “The mix of iPhones for newer products has sustained at a higher

Democratic presidential contender Sen. Elizabeth Warren refused to take a lucrative legal job in 2006 after a consumer advocacy group raised concerns about the work, earning the fury of an attorney who had sought to hire her, court documents show. The documents, which have not been previously reported, provide new context about Warren’s legal consulting work. Warren has struggled to defend her record working for companies like Dow Chemical and Travelers Insurance. Ultimately, some of the concern

Nearly 100 Fortune 500 companies effectively paid no federal taxes in 2018, according to a new report. The report covers 379 companies from the Fortune list that were profitable in 2018 and finds that 91 paid an effective federal tax rate of 0% or less. The new tax law lowered the statutory corporate tax rate to 21%, but the companies in the report paid an average rate of 11.3%. Fifty-seven companies paid effective rates above 21%. The lower average rate means that the federal government brought

Street Fighter 5: Champion Edition’s latest add-on to its character roster is Seth, the silvery boss from Street Fighter 4, but in a new form. After being defeated in Street Fighter 4, Seth’s intelligence lived, moving on to a new vessel, thus becoming female. Seth’s new body resembles a taller version of Juri Han, another character who debuted in Street Fighter 4. Seth is the 40th character on the roster, joining Street Fighter 5: Champion Edition when it drops on Feb. 14, 2020 for $29.99. Stre

Apple Arcade launched earlier this year with a single subscription option: $4.99 a month. If you’re already subscribed to Apple Arcade, you can switch over to the yearly fee by selecting your Apple ID profile in Settings and navigating to the subscriptions page. From there, select Apple Arcade. Essentially it’s giving players access to two free months of Apple Arcade; if you pay the monthly fee, you’ll end up spending $59.99 a year. Apple Arcade launched on Sept. 19 with more than 100 games.

One of Call of Duty: Modern Warfare’s frequently requested features is a deaths column on the scoreboard for every mode. While it may seem like a trivial addition, it’s entirely missing from modes like Team Deathmatch and has been since launch. However, as part of the recent Mother Russia bundle, players can buy the ability to see their deaths for $20. Deaths are a stat that players have been requesting to add to the scoreboard since Modern Warfare was released earlier this year. According to th

In No Man’s Sky’s pre-holiday update, Hello Games surprised players with a new, completely functional synthesizer. The studio calls the machine the ByteBeat Device, and it’s capable of creating new music tracks for the game. With the ByteBeat, players have the power to mess with the music as much or as little as they’d like. Players can let the randomly created music play, or interact with the machine to set tempo, octave, key, melody, and drums. The ByteBeat has settings that allow it to connec

A Goldman Sachs sign is seen on at the company’s post on the floor of the New York Stock Exchange. Goldman Sachs and the other brokers are in a better position that other banks with the Federal Reserve committed to keeping short-term interest rates low, according to Citigroup. The firm upgraded shares of Goldman Sachs to buy from neutral and hiked its price target to $255 per share from $220 per share, more than 13% upside for the bank stock. Goldman Sachs closed at $225 per share on Friday. Cit

One of Wall Street’s top technology analysts is sounding alarms that the sector has gotten too pricey. Bernstein’s Toni Sacconaghi noted the tech sector is currently trading at 22 times earnings, the highest level for the group in 15 years. Sacconaghi is rated consistently the No.1 analyst on IT hardware and electronics manufacturing services by Institutional Investor magazine. “Given elevated valuations and elevated expectations for high priced stocks, we believe risk remains high in tech,” Sac

Susquehanna upgraded Western Digital on the expected ramp-up of the 5G smartphone build cycle. “In a nutshell, we expect the 5G smartphone build cycle to start in earnest in late Mar-Q, which combined with all the cuts to NAND cap-ex and wafer starts, all aimed at reducing bit supply growth rate, should lead to a tight NAND supply-demand market by June-Q. We actually don’t rule out (real) “shortages” hitting the headlines by mid-summer! Game console upgrade cycle of 2020 could also exacerbate th

Goldman Sachs is raising its 12-month commodity returns forecast to 6.4% — a 3% increase — based on subsiding geopolitical tensions. The firm said that following clarity on the US-China trade deal and UK election, demand for commodities will increase, without any changes to supply. For oil specifically, the firm raised its returns forecast to 15% from 9.7%. “Tighter than expected agriculture markets due to supply problems and an improved outlook on oil following the OPEC+ agreement reinforce our

U.K. pork exporters are forecasting high demand from China to continue into 2020 after the country was hit particularly hard by a virus that has been killing pigs around the world. In the last few month, six new UK plants have approved to export pig trotters, a popular Chinese delicacy. On whether the high prices were likely to persist Saunders said: “We expect this to continue into 2020.” Chinese pork demand typically peaks in late January around the celebration of the Lunar New Year. It said i

Former FBI director James Comey admitted on Sunday that he was “overconfident” in the process used by the bureau to obtain a court-ordered wiretap of a former Trump campaign aide. However, Horowitz also concluded that the bureau made multiple errors when applying for a secret court order to obtain a wiretap of Carter Page, a former advisor to the Trump campaign. “I was wrong,” Comey said in an interview with Fox News Sunday. “I was overconfident in the procedures that the FBI and Justice had bui

Sen. Elizabeth Warren took JPMorgan Chase chief Jamie Dimon and the Business Roundtable to task over the association’s commitment in August to “redefine” the purpose of a corporation to extend beyond the maximization of shareholder profits. “If Jamie Dimon thinks it’s a good idea for giant corporations like J.P. Morgan Chase to have multiple obligations, he and I agree. Then let’s make that the law,” Warren said in an interview with CNBC’s John Harwood published on Monday. The Massachusetts Demo

The letter, dated Dec. 12 and obtained by CNBC, asks regulators to defend their approval of the $28 billion merger of regional banks BB&T and SunTrust. The merger created Truist Financial, the country’s sixth-largest bank with $450 billion in assets. The letter came weeks after Warren and Garcia introduced their Bank Merger Review Modernization Act to tighten oversight of America’s bank deal approval process. The two have argued that, if the act had been passed prior to the Truist deal, it would

A Goldman Sachs sign is seen on at the company’s post on the floor of the New York Stock Exchange. Goldman Sachs and the other brokers are in a better position that other banks with the Federal Reserve committed to keeping short-term interest rates low, according to Citigroup. The firm upgraded shares of Goldman Sachs to buy from neutral and hiked its price target to $255 per share from $220 per share, more than 13% upside for the bank stock. Goldman Sachs closed at $225 per share on Friday. Cit