Microsoft Corp. is getting closer to retaking the title of most valuable U.S. company as it narrows in on Apple Inc. Now valued at $2.73 trillion, Microsoft MSFT, -0.72% is worth about $100 billion less than Apple AAPL, -1.27%, which is valued at $2.83 trillion. Apple hasn’t been worth less than Microsoft since a 14-session stretch that ended Nov. 17, 2021, and the market-cap gap hasn’t been this small since Nov. 22, 2021. ...

Costco Wholesale Corp. COST, +0.57% on Thursday said that December sales rose 9.9% year over year to $26.15 billion, helped by a jump in its e-commerce business, with sales for the 17 weeks ending Dec. 31 coming in at $82.86 billion, a 5.9% gain. The membership retail chain said that in December, same-store sales overall rose 8.5%, with a 5.2% increase for those 17 weeks. E-commerce sales in December were up 17.7%. Shares rose 0.8% after hours. ...

Hello! Here’s how the competition for ETF assets shook out in 2023. Will BlackRock keep its top spot in 2024?Please send feedback and tips to christine.idzelis@marketwatch.com or isabel.wang@marketwatch.com. You can also follow me on X at @cidzelis and find me on LinkedIn. Isabel Wang is at @Isabelxwang.Sign up here for our weekly ETF Wrap.BlackRock finished 2023 with the biggest market share in the exchange-traded fund industry, keeping Vanguard at bay in the No. 2 spot even after the close competitor topp ...

Cannabis stocks are notching their second day of gains after the Drug Enforcement Administration confirmed it’s reviewing an August recommendation from the U.S. Department of Health and Human Services (HHS) to change the classification of marijuana to Schedule III from Schedule I under the Controlled Substances Act. In a letter to Rep. Earl Blumenauer, Democrat of Oregon, the DEA said it has “final authority” to make any rescheduling decisions. The Schedule III classification would potentially eliminate th ...

Group 1 - Trump's businesses received at least $7.8 million from foreign governments during his presidency, with China contributing approximately $5.6 million [1][2] - The report by House Democrats claims that Trump violated the Constitution by prioritizing personal financial interests over the public interest [1] - The emoluments clause of the Constitution prohibits presidents from accepting money from foreign governments without Congressional consent [2] Group 2 - Trump is currently the leading contender for the Republican presidential nomination, with a significant lead in Iowa polls [2] - The House Democrats' report is released amid a GOP impeachment inquiry into President Joe Biden regarding his son Hunter's foreign business dealings [2] - Trump's Washington hotel was sold to an investor group in May 2022 and is now operating as a Waldorf Astoria [2]

The Gabelli Financial Services Opportunities Fund is an exchange-traded fund that is actively managed. This fund is less than two years old but has performed very well. A list of its holdings and estimates for the fund’s portfolio illustrate why the approach has worked well so far.Most exchange-traded funds are passively managed, which means they track broad indexes, such as the S&P 500 , or they track a market sector or industry groups by basing their portfolios on custom-designed indexes. But actively man ...

Pfizer Inc. shares PFE, were downgraded to market perform from outperform at TD Cowen on Thursday, as analysts see upcoming patent expirations and shaky confidence in the drugmaker’s management clouding the outlook. Despite a brutal 2023, when the stock dropped more than 40%, it’s “tough to pound the table even from these levels,” the analysts wrote, adding that expected strong earnings growth through 2026 will be weighed down longer term by losses of market exclusivity on key drugs like the blood thinner ...

Just four days into 2024, Apple Inc. shares have caught their second downgrade of the year. Piper Sandler analyst Harsh Kumar lowered his rating on the technology stock AAPL, -0.75% to neutral from overweight, citing concerns about valuation as well as pressures in the smartphone market. Kumar said he is worried about handset inventories during the first half of the year, while predicting that growth rates for unit sales have peaked. This is notable given that iPhones represent about half of Apple’s revenue ...

With the economy poised to potentially tap the brakes for U.S. consumers, JPMorgan Chase analyst Richard B. Shane upgraded American Express Co. to overweight from neutral on Friday.American Express Co.’s AXP more affluent customer base may offer investors a “haven from deteriorating household balance sheets” as lower- and middle-income borrowers face pressure from depleted savings from the pandemic and the lingering effects of high inflation, Shane said.The company’s stock rose by 0.7% in premarket trading ...

Eli Lilly & Co. LLY, +4.31% on Thursday announced the launch of digital health services for U.S. patients with obesity, migraine and diabetes, saying its new LillyDirect platform will offer access to independent healthcare providers and home delivery of certain Lilly drugs through third-party dispensing services. The platform’s online pharmacy will automatically apply savings card discounts for people who qualify and will ship medicines free of charge, Lilly said in a release. LillyDirect will also help pe ...