industrial news

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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Apple Stock Has Broken Down.  That's Bad for the Market.

Apple Stock Has Broken Down. That’s Bad for the Market.

Text size Apple’s flagship store in Beijing is closed to prevent the spread of Covid-19. Kevin Frayer/Getty Images Apple stock is in a sorry state, trading now below a price that investors couldn’t resist before—a price that sent it higher in the past several months. This new price—roughly $142 a share on Thursday—is, of course, …

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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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Stocks Climb on Inflation Data

Stocks Climb on Inflation Data

Stocks swung between gains and losses Wednesday after fresh data showed inflation eased slightly in April but not as much as economists expected. The S&P 500 rose 0.7% in morning trading. The index snapped a three-day losing streak Tuesday, hitting pause on a stretch of pressure that came as investors braced for the Federal Reserve …

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Palantir Earnings and Outlook Fall Short of Estimates.  The Stock Plunges.

Palantir Earnings and Outlook Fall Short of Estimates. The Stock Plunges.

Text size Palantir guided to a ‘base case’ of $470 million in revenue for the second quarter. Dreamstime Palantir Technologies posted soft first-quarter results, along with June quarter guidance that fell shy of previous Wall Street forecasts. Global economic and geopolitical forces appeared to be weighing on the company’s near-term outlook, although Palantir’s long-established ties …

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Jared Kushner's New Fund Plans to Invest Saudi Money in Israel

Jared Kushner’s New Fund Plans to Invest Saudi Money in Israel

Jared Kushner’s new private-equity fund plans to invest millions of dollars of Saudi Arabia’s money in Israeli startups, according to people familiar with the investment plan, in a sign of warming ties between two historic rivals. Affinity Partners, which has raised more than $3 billion, including a $2 billion commitment from the kingdom’s sovereign-wealth fund, …

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Bausch + Lomb Prices IPO at $18 a Share, Below Expectations

Bausch + Lomb Prices IPO at $18 a Share, Below Expectations

Bausch + Lomb Corp. priced its IPO at $18 a share Thursday, falling short of expectations as it became the first big company in months to try going public into a turbulent stock market. Bausch Health BHC -7.40% Cos., the parent company, raised $630 million in the offering. It had been aiming to raise as …

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Why Is Bitcoin Falling?  Prices Drop Amid Broader Market Tumble.

Why Is Bitcoin Falling? Prices Drop Amid Broader Market Tumble.

Bitcoin was trading around $37,000 Thursday. Rutmer Visser/Dreamstime Text size The price of Bitcoin, Ether, and other cryptocurrencies slumped on Thursday, reversing a recent rally as a deep selloff in the stock market spread to digital assets.. Bitcoin tumbled 6% over the past 24 hours to around $36,900, after ending 6% higher on Wednesday and …

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Fed, Biden Administration Float New Lending Rules for Lower-Income Areas

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas

WASHINGTON—Top US regulators proposed overhauling how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era revamp that had divided regulators and industry officials. The latest proposal to modernize rules for the 1977 Community Reinvestment Act, announced Thursday, aims to ensure lending to lower-income individuals and small businesses is distributed …

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Stocks Slide as Investors Reassess Fed Comments

Stocks Slide as Investors Reassess Fed Comments

US stocks fell, with technology stocks leading the way, as investors assessed the implications of Federal Reserve’s most aggressive tightening of monetary policy in more than two decades. The S&P 500 dropped 2.1% in early trading Thursday. The tech-focused Nasdaq Composite Index lost 3.2%, and the Dow Jones Industrial Average retreated 1.6%, or 551 points. …

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