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“#Coinbase stock jumps on better-than-expected Q2 earnings” Shares of crypto exchange Coinbase rose 7 percent Wednesday morning after the company reported better-than-expected second quarter profits. The digital coin exchange late Tuesday reported $1.6 billion in net profit for the quarter, representing earnings per share of $3.45. That eclipsed Wall Street’s expectations of $2.33 per share. …
“#Moderna and BioNTech shares skyrocket amid talk of mRNA treatments” Shares of Moderna and BioNTech both skyrocketed on Monday amid growing enthusiasm over technology used in their coronavirus vaccines and its potential to help fight other ailments like cancer and malaria. Monday’s rally came after BioNTech told investors on an earnings call that it’s pushing…
“#Stocks slip on Amazon drop, but still on track for monthly gain” Stocks fell in afternoon trading on Wall Street Friday with internet retail giant Amazon weighing down major indexes following a weak sales report and forecast. The S&P 500 index fell 0.5% as of 12:17 p.m. Eastern and is on pace for a weekly…
“#Amazon stock tanks after weak earnings, massive fine” Amazon stock tanked after the company warned it expects sales growth to slow as the pandemic wanes, even as it got slapped with a record fine from the European Union. The Seattle-based e-commerce giant’s stock dropped more than 7 percent to 3,347.99 in midday trades on Friday…
“#Apple stock falls over chip shortage despite strong earnings” Apple knocked investors’ expectations out of the park with a strong second quarter earnings report Tuesday evening — but the company’s stock fell sharply on Wednesday morning as the company warned that supply constraints will hurt future sales. Apple shares were trading down about 2.8 percent…
“#Elon Musk bashes Apple, journalists and critics amid Tesla profits” Elon Musk slammed press coverage of Tesla crashes that may have involved its “autopilot” feature, pushed back on child-labor concerns and even took multiple digs at Apple after the electric car maker reported record results. Tesla late Monday released its second-quarter earnings, which showed that…
“#A-Rod, Dave Portnoy and Marc Lore back online brokerage Tornado” Former Yankees slugger Alex Rodriguez, Barstool Sports founder Dave Portnoy and e-commerce tycoon Mark Lore are pouring cash into Tornado, an online brokerage that operates a social network for traders. The investors — led by VCP, A-Rod and Lore’s venture capital firm — are sinking…
“#‘Blank check’ firm hires Bill Clinton — and keeps quiet about it” An environmentally focused “blank check” company had a remarkably quiet launch on Tuesday — despite the fact that it has tapped Bill Clinton to help it find an acquisition target. TortoiseEcofin Acquisition Corp. III — whose name might suggest a slow, patient approach…
“#Dow rebounds more than 600 points after Monday’s virus-driven rout” The Dow rose more than 600 points on Tuesday, erasing most of a massive selloff that slammed the markets a day earlier on fears that the coronavirus’ new Delta variant could derail the economic recovery. In mid-morning trading, the Dow Jones industrial average was up…
“#Economist Roubini warns of stock market crash and ‘stagflation’” The economist who correctly predicted the 2008 financial collapse is waving a red flag about another imminent disaster. Nouriel Roubini, an economist at NYU Stern School of Business, writes in The Guardian that “the same loose policies that are feeding asset bubbles will continue to drive…