Top Five Weekend Stock Stories - Dec. 2, 2018

Catch up on the weekend's top five stories with this list compiled by The Fly:

1. U.S. President Donald Trump and Chinese President Xi Jinping promise to halt the imposition of new tariffs for 90 days as the world's two largest economies negotiate a lasting agreement, according to Bloomberg. The truce between both countries emerged after a highly anticipated dinner Saturday between Trump and Xi on the sidelines of the Group of 20 summit in Argentina, the report noted. The White House called the meeting "highly successful," saying the U.S. will leave existing tariffs on $200B of Chinese goods at 10% and refrain from raising that rate to 25% as planned on January 1, Bloomberg added. In exchange, the U.S. wants an immediate start to talks on Trump's biggest complaints about Chinese trade practices, namely intellectual property theft, non-tariff barriers and forced technology transfer.

2. Amazon (AMZN) is testing its cashierless checkout technology for bigger stores, according to The Wall Street Journal, citing people familiar with the matter. If successful, the strategy would further challenge brick-and-mortar retailers racing to make their businesses more convenient, the report noted, adding that the systems track what shoppers pick from shelves and charges them automatically when they leave a store.

3. Under Satya Nadella's leadership, Microsoft (MSFT) pivoted, put its cash cows at risk, and successfully transitioned to the next big technology wave of cloud computing, Tae Kim wrote in this week's edition of Barron's. This week, the stock market validated Microsoft's turnaround when its shares surpassed Apple (AAPL) as the world's most valuable public company, the report noted. Nadella positioned Microsoft to become a major player in the burgeoning market, and the company is now a clear No. 2, with 13% share of cloud-computing share behind Amazon's AWS at 52%, according to Gartner's 2017 figures.

4. Disney's (DIS) "Ralph Breaks the Internet" stayed at the top on its second outing, earning another $25.8M from 4,017 theaters, in one of the quietest weekends of the year in terms of fresh studio offerings. Overseas, Ralph 2 took in another $33.7M for a foreign tally of $87.7M and an early worldwide cume of $207M. The movie earned an A- CinemaScore and sports an 86% Rotten Tomatoes score.

5. Progressive (PGR), General Motors (GM), and Aptiv (APTV) saw positive mentions in Barron's.

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.