banking

Affirm stock soars as company tops revenue expectations 'despite volatile market conditions'

Affirm stock soars as company tops revenue expectations ‘despite volatile market conditions’

Shares of Affirm Holdings Inc. surged in after-hours trading Thursday after the buy-now pay-later company delivered a revenue beat and an upbeat volume forecast in the face of “volatile market conditions.” The company posted a fiscal third-quarter net loss of $54.7 million, or 19 cents a share, compared with a loss of $287 million, or …

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Yellen: Cryptocurrency market turbulence is not 'real threat' to US financial stability.

Yellen: Cryptocurrency market turbulence is not ‘real threat’ to US financial stability.

Treasury Secretary Janet Yellen said Thursday that the turbulence in the cryptocurrency market is not a hazard for the stability of the US financial system. Yellen noted that TerraUSD USTUSD, -57.88% had decoupled from its $1 peg in recent days and the world’s largest stablecoin, tether, briefly was under similar pressure. Other companies in the …

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'What are the odds?  I retire and the stock market crashes.  All my plans are upside down.'  I want to draw on my 401(k) to renovate my new home.  What options do I have?

‘What are the odds? I retire and the stock market crashes. All my plans are upside down.’ I want to draw on my 401(k) to renovate my new home. What options do I have?

Dear Quentin, I’m due to retire in two months and I have already moved to my new home in the sun. I have not sold my apartment in a major US metropolitan area on the east coast, as I wanted to see how I settled into my new life. It’s a quiet, but beautiful city …

‘What are the odds? I retire and the stock market crashes. All my plans are upside down.’ I want to draw on my 401(k) to renovate my new home. What options do I have? Read More »

Saudi Aramco eclipses Apple to once again become the world's most valuable company

Saudi Aramco eclipses Apple to once again become the world’s most valuable company

hong kong CNN Business — Saudi Aramco has overtaken Apple as the world’s most valuable company, underscoring the recent surge in oil prices that have boosted the energy giant this year. Aramco is now worth about $2.43 trillion, compared with Apple’s $2.37 trillion, according to data from Refinitiv. Market capitalizations fluctuate frequently: earlier this year, …

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Coinbase stock plunges again after company reports dismal results

Coinbase stock plunges again after company reports dismal results

New York CNN Business — The bitcoin crash is hitting Coinbase really, really hard. The cryptocurrency brokerage reported a first-quarter loss late Tuesday and revenue that fell 27% from a year ago, missing Wall Street’s forecasts. Coinbase shares plummeted more than 25% Wednesday and hit their lowest level ever. Coinbase stock is now down more …

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Bitcoin Price Falls 54% From Its High

Bitcoin Price Falls 54% From Its High

The cryptocurrency market has continued its slide from last week, mirroring the fall of the broader stock market. The world’s largest cryptocurrency, bitcoin, fell to $31,075.70 on Monday evening, a 10% drop from Sunday at 5 pm EDT, according to prices from CoinDesk. Bitcoin’s price has fallen 54% from its record high of $67,802 in …

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Dow tumbles again as tech wreck continues, S&P hits 52-week low

Dow tumbles again as tech wreck continues, S&P hits 52-week low

New York CNN Business — US stocks fell sharply Monday, pushing the S&P 500 to a new 52-week low, as traders anticipate a new load of bad news on inflation and earnings. The Dow (INDU) fell about 506 points, or 1.5%. the S&P 500 (SPX) dropped 2.4%, and the Nasdaq Composite (COMP) lost about 3.2%. …

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Bitcoin Slides Below $37,000 as Investors Unwind Risky Bets

Crypto Prices Slump Over the Weekend

The decline of bitcoin, the world’s largest cryptocurrency, mirrored the slide of the overall stock market. Photo: Kin Cheung/Associated Press Updated May 8, 2022 9:19 am ET The cryptocurrency market fell over the weekend, mirroring the slide of the broader stock market. The world’s largest cryptocurrency, bitcoin, fell to $34,702.69 on Sunday morning, a 3.8% …

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What Bitcoin Could Be Worth to Fidelity.  You'll Be Surprised.

What Bitcoin Could Be Worth to Fidelity. You’ll Be Surprised.

Text size Fidelity’s push into Bitcoin is raising controversy but could be lucrative for the company. Dreamstime.com Fidelity Investments shocked the retirement industry last month with a move to make Bitcoin available in 401(k) plans. Add up the revenue that might bring in, and it starts to be less of a surprise. Fidelity is the …

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Asian markets and currencies are tanking after a rough day on Wall Street

Asian markets and currencies are tanking after a rough day on Wall Street

hong kong CNN Business — Asian stock markets and currencies fell Friday, as investors remain worried about the US Federal Reserve’s policy changes and China’s renewed pledge to stick to its controversial zero-Covid policy. Hong Kong’s benchmark Hang Seng (HSI) Index tumbled nearly 4% — leading losses in Asian markets, and on track to log …

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