Another big week in the books with stocks finishing a decent week on a down note, with bank shares rolling over. Plus, Amazon versus the White House takes a new turn with Trump ordering an investigation of the U.S Post Office. And, Mark Zuckerberg’s big week is over, but is the worst still to come for Facebook? Plus, exotic meats are big business, but one Durham restaurant is taking it 8 steps, further. We’ll explain. Catch The Final Round at 3:55 ET p.m. with Alexis Christoforous, Yahoo Finance markets correspondent Myles Udland, Yahoo Finance Editor-in-Chief Andy Serwer and Seana Smith.
Winners and losers
Stocks in the red include JPMorgan shares down in early trade as the biggest US bank by assets beat on earnings and revenue, powered by stock trading, wealth management, and credit card operations; Dropbox as Nomura Instinet initiated the cloud storage firm with a ‘reduce’ rating and $21 price target; and Starbucks, with shares slipping on a downgrade to market perform by Cowen, citing concerns over craft coffee competition and customer loyalty for the world’s largest coffeeshop chain.
Stocks in the green include Tronc as the NY Post reports the struggling media company is drawing possible buyout interest from private equity firm Apollo Global Management; Broadcom as the chipmaker announced a $12 billion dollar stock buyback, coming only a few weeks after its failed bid for rival Qualcomm; and Tesla, with shares higher as embattled CEO Elon Musk responded to a critical Economist article by claiming Tesla would be profitable and cash flow positive in Q3 and Q4, meaning a capital raise wouldn’t be necessary.