- BusinessBusiness Insider•yesterday
FORGET FANG: Goldman adopts a new acronym for the most powerful tech stocks driving the market
Forget the FANGs: Goldman Sachs has adopted a new acronym for the most powerful drivers of the S&P 500 and the Nasdaq. "While FANG has dominated investor focus, the nature of the acronym has expanded more broadly to encompass mega-cap tech," Robert Boroujerdi and his colleagues wrote in a note on Friday. As with FANG, the G in FAAMG represents Google, the best-known company under the Alphabet umbrella.
BusinessThe Street•21 hours agoTesla's CEO Elon Musk Was Just Dealt a Rare Blow
A large minority of Tesla Inc. (TSLA) investors urged the electric-car maker to have annual elections for its directors, a major rebuke to the company's CEO, Elon Musk, according to a securities filing on Thursday. At issue is an activist shareholder proposal submitted for consideration by a group of Connecticut pension funds that would require Tesla's entire board to come up for election every year, as opposed to staggered three-year terms. "Independent shareholders gave Tesla a clear message: it's time to sharpen the company's governance profile and strengthen board member accountability to shareholders, whose interests they are elected to represent," she said. The shareholder proposal is non-binding, which means Tesla is under no obligation to change its governance structure in response to any investor opposition.
BusinessThe Street•16 hours agoMcDonald's Is Coming Back From the Dead, and It's Not Because of the $1 Soft Drink
It has been a long haul back from the dead for McDonald's (MCD) , but signs of life on several fronts continue to emerge. Credit Suisse analysts raised their price target on McDonald's by $8 to $157 in a note Thursday, citing "continued momentum," as "SSS [same store sales] among our franchise contacts have accelerated from 1Q17 [first quarter], with each month better than the last." The stock closed Thursday's session at $151; a year ago, it was trading at $123.09. Among the menu offerings that have driven growth are $1 soft drinks and $2 small coffee. Additionally, franchisees told the analysts that improving food quality and operations may now be helping to lift market share. Other upcoming
