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[ad_1] An employee arranges Apple iPhones as customer shop at an Apple store.Mike Segar | ReutersCheck out the companies making headlines in midday trading.Apple — The big technology stock shed 5% following a rare downgrade by Bank of America. The bank downgraded shares of the iPhone maker to neutral and
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[ad_1] Check out the companies making headlines before the bell:Apple (AAPL) – Apple lost 2.2% in the premarket after BofA Securities downgraded it to neutral from buy. BofA said Apple has held up relatively well in a down market, but it expects a negative impact on the company from weakening
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[ad_1] A gong inside the Hong Kong Stock Exchange. China Vanke's subsidiary Onewo and EV maker Zhejiang Leapmotor Technology began trading on the Hong Kong market on Thursday.Paul Yeung | Bloomberg | Getty ImagesTwo of Hong Kong's largest initial public offerings of the year dropped on their first day of
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[ad_1] The Chinese yuan weakened past the closely-watched 7.2 level against the greenback this week.Getty ImagesBEIJING — The People's Bank of China has warned against betting on the yuan, after its rapid decline against the U.S. dollar this week."Do not bet on a one-sided appreciation or deprecation of the renminbi
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[ad_1] Ken Griffin, Citadel's founder and CEO, believes the Federal Reserve has more work to do to bring down inflation even after a series of big rate hikes."We should continue on the path that we're on to ensure that we reanchor inflation expectations," Griffin said at CNBC's Delivering Alpha Investor
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[ad_1] A Biogen facility in Cambridge, Massachusetts.Brian Snyder | ReutersCheck out the companies making headlines in midday trading.Apple — Apple shares fell 3.4% on Wednesday following a report that the company is ditching plans to boost new iPhone production. Instead of aiming to increase output by 6 million units in
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[ad_1] Stanley DruckenmillerAdam Jeffery | CNBCBillionaire investor Stanley Druckenmiller believes the Federal Reserve's aggressive tightening measures will tip the U.S. economy into a recession."Our central case is a hard landing by the end of '23," Druckenmiller said at CNBC's Delivering Alpha Investor Summit in New York City Wednesday. "I will be stunned
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[ad_1] Check out the companies making headlines before the bell:Biogen (BIIB) – Biogen soared 45.6% in premarket trading after Biogen and Japanese partner Eisai said their experimental Alzheimer's drug dramatically slowed the disease's progression in a study, reducing cognitive and functional decline by 27%.Thor Industries (THO) – Thor Industries gained
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[ad_1] A young Beijing company's game called "Sheep a Sheep" went viral in China in September 2022.Evelyn Cheng | CNBCBEIJING — A new game that's gone viral in China hit people's screens with surprising speed at a time when gaming giants such as NetEase have waited months for approval to
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[ad_1] Check out the companies making the biggest moves midday:Hertz — Shares of the rental car company jumped 1.9% after the company announced a partnership with BP's electric vehicle charging unit that will put thousands of charging stations at Hertz locations. Many of the stations will be used to charge
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