Investing.com -- Intel (NASDAQ: INTC) plans to spin off its Network and Edge Group (NEX) into a stand-alone company and is seeking outside investment for the business unit, according to a memo reportedly sent to customers and cited by the CRN on Friday.
The memo, authored by Sachin Katti, who has led NEX since early 2023, revealed that Intel "internally announced" on Thursday its plan to establish NEX as a stand-alone company. Katti also serves as Intel’s chief... (continue reading...)
Investing.com -- Shares of mortgage finance giants Fannie Mae (OTC: FNMA) and Freddie Mac (OTC: FMCC) fell 7% in Friday trading after Federal Housing Finance Agency (FHFA) Director Bill Pulte indicated the companies would likely remain in conservatorship.
The decline extended into a second consecutive day of losses, with the stocks at one point dropping as much as 15% for Fannie Mae and 16% for Freddie Mac, marking their steepest intraday falls since early June.
In... (continue reading...)
Investing.com -- The European Union and the United States might reach a framework trade deal this weekend that would end months of uncertainty for European industry, according to a report from Reuters, citing EU officials and diplomats on Friday.
The potential agreement would likely include a 15% baseline tariff on all EU goods entering the United States, with European steel and aluminum facing a probable 50% tariff, these sources said.
U.S. President Donald Trump... (continue reading...)
Investing.com -- As the clock ticks toward a critical August 1 deadline, U.S.-Canada trade negotiations show few signs of progress, with officials on both sides signaling a hardening of positions. U.S. President Donald Trump said Friday that talks with Ottawa have been largely unsuccessful, raising the possibility that tariffs may be the administration’s primary course of action.
“We will have most of our deals finished, if not all. We haven’t really had a lot of luck... (continue reading...)
Investing.com -- Morgan Stanley has upgraded Estée Lauder to Overweight and placed the cosmetics group on its Positive Catalyst Watch, ahead of its fourth-quarter earnings release on August 20.
The firm expects the company to deliver a revenue beat and laid out a constructive multiyear thesis for the stock.
“We believe EL will deliver at the top of their guide given the better-than-feared 6.18 event and better performance online,” Morgan Stanley analysts wrote, adding... (continue reading...)
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