Monthly Archives: May 2023
Regional bank stocks continue to slide on Thursday with PacWest leading the way down 50%
(CNBC) The rout in regional banks picked up steam again on Thursday morning, with several stocks suffering sizeable losses. PacWest sank 50.6% was halted for volatility multiple times. The slide began on Wednesday evening following news that the Los Angeles-based […]
Stock futures rise following Apple earnings: Live updates
(CNBC) Stock futures ticked higher early Friday morning. S&P 500 futures inched up by 0.4%, while Nasdaq 100 futures added 0.5%. Futures tied to the Dow Jones Industrial Average gained 77 points, or 0.23%. Investors received a fresh slate of […]
Crypto has ‘lost its shine’ for institutional investors, says Northern Trust executive
(CNBC) Institutional investors lost interest in crypto after 2022 and even with this year’s uptrend, their appetite for it hasn’t come back yet, according to Northern Trust’s head of digital assets and financial markets. Justin Chapman told CNBC’s “Crypto World” […]
Tiger Global’s VC fund takes 20% hit
(Hedgeweek) A $12.7 billion venture capital fund set up by New York-based hedge fund Tiger Global Management in October 2021 to support tech startups, has been hit hard by a decline in tech sector valuations with the fund suffering a […]
S&P 500 futures slip after the Federal Reserve hikes rates, bank contagion fears return: Live updates
(CNBC) S&P 500 futures fell after the Federal Reserve hiked rates by another 25 basis points and investors’ fears of contagion in the regional bank space returned. Futures linked to the broad-market index slipped 0.2%. Futures linked to the Dow […]
Fed recap: Here are Chair Powell’s market-moving comments after the latest rate hike
(CNBC) The Federal Reserve raised interest rates by a quarter of a percentage point, bringing the benchmark funds rate to 5% to 5.25%. In its post-meeting statement, the central bank appeared to soften its language on future rate increases, removing […]
Google employees complain about CEO Sundar Pichai’s pay raise as cost cuts hit rest of the company
(CNBC) Google CEO Sundar Pichai received a hefty pay raise last year, making him one of the highest-paid CEOs in America. Last week, his company announced the authorization of a $70 billion stock buyback. Meanwhile, Google parent Alphabet has been […]
Apple expected to announce $90 billion in buybacks and dividends when it reports earnings
(CNBC) When Apple reports quarterly earnings on Thursday, the results are expected to be somewhat muted — the company already guided investors to a 5% revenue decline due largely to decreases in Mac and iPad sales. But Apple will still […]
PacWest falls more than 50% after hours on report bank is considering strategic options
(CNBC) PacWest Bancorp shares tumbled 56% in extended trading on Wednesday following news that the bank is weighing strategic options. The regional bank is assessing options, including a possible sale, and bringing in advisors to evaluate longer-term plans for the […]
Qualcomm gives light forecast, phone chip sales fall 17%
(CNBC) Qualcomm reported second-quarter earnings on Wednesday that were in line with analyst expectations, but sales from handset chips, a core business for the company, declined 17% from a year earlier. Qualcomm shares fell over 4% in extended trading. To […]
SEC Alleges Son and Father-in-Law Touted Faith to Target Church Members in $20 Million Offering Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Brett M. Bartlett, his father-in-law Scott A. Miller, and their companies for fraudulent securities offerings that raised at least $20.5 million, some of which Bartlett and Miller misused for personal expenses. According […]
Lawmakers led by Democrats urge the Fed to halt rate hikes ahead of Wednesday’s announcement
(CNBC) A group led by several prominent Democratic lawmakers is calling on the Federal Reserve to halt rate hikes to avoid risking too much damage to the economy. The 10 senators and representatives, led by Sen. Elizabeth Warren of Massachusetts […]