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“Euro stock ‘flash crash’ triggered by Citigroup trader’s error” A brief-but-steep drop in European stocks on Monday was triggered by a Citigroup trader’s input error, the banking giant said. The so-called Flash Crash, which tanked the Stockholm benchmark index OMX 30 more than 8% in the span of a few minutes, temporarily halted trading Monday around…
“Pfizer Q1 profit, revenue soar on COVID-19 vaccine sales” COVID-19 vaccine and treatment sales helped Pfizer breeze past Wall Street’s first-quarter expectations, as the drugmaker’s profit grew 61%. The coronavirus vaccine Comirnaty, which has been Pfizer’s top seller for about a year, brought in more than $13 billion in sales in the quarter. The pill…
” Billionaire Citadel Securities founder compares crypto value to abstract art “ Billionaire Citadel Securities founder Ken Griffin has compared cryptocurrency to abstract art, opining that the value of both is derived from the eye of the beholder. Griffin — who Forbes estimates to be worth around $26 billion — has made numerous anti-crypto comments…
“Melvin Capital down 23.3% year to date as founder considers winding down fund” Embattled hedge fund Melvin Capital reported another down month — just weeks after founder Gabe Plotkin said he was considering winding down the fund. Melvin — still struggling to recover after a massive short squeeze on meme stock GameStop crushed his fund in January 2021…
” Buffett back bashing Bitcoin, claims it ‘doesn’t produce anything’ “ Billionaire investor Warren Buffett has once again slammed Bitcoin, asserting he “wouldn’t take” all of the BTC in the world for just $25. The 91-year-old, with a net worth of around $124 billion, is an avid crypto skeptic that once called Bitcoin “rat poison…
“Deutsche Bank HQ searched over possible money laundering” An estimated 170 regulators descended on Deutsche Bank’s global headquarters in Germany Friday after the financial giant alerted authorities about a potential money laundering case, according to a report. Both European regulators — the Federal Financial Supervisory Authority (BaFin) — and German police raided the bank following a…
“Amazon shares fall after first quarterly loss since 2015” Amazon reported its first quarterly loss since 2015 on Thursday, its money-making juggernaut stalled by a slowdown in pandemic-induced online shopping and a huge write-down of its investment in an electric-vehicle startup. The Seattle-based e-commerce giant’s stock almost 10% in after-hours trading. Amazon reported a loss…
“Dow jumps over 600 points on rebound in tech stocks” Stocks rallied on Wall Street Thursday as technology companies clawed back some of the ground they had lost recently. The Dow Jones Industrial Average rose 614 points, or 1.85%, to 33,916.39, and the Nasdaq climbed 3%, or 382.60, to 12,871.53. The S&P 500 rose 2.5%….
“McDonald’s hikes prices, customers switch to cheaper menu items” Menu price hikes and a new loyalty program helped McDonald’s beat estimates for quarterly sales and profit on Thursday, despite inflationary pressure on consumers, the war in Ukraine and COVID-19 lockdowns in China. Shares of the Chicago-based company rose nearly 3% to $253.82. Pinched by higher costs for gas, rent and…
“Meta shares soar on increase in Facebook daily users” Facebook parent Meta’s first quarter profit and its count of daily users jumped past Wall Street’s expectations despite the company’s slowest revenue growth since going public a decade ago. Shares were up sharply in after-hours trading. Meta cut a sharp contrast with Google parent Alphabet, which…