Day: May 14, 2022

May 14
Twitter’s stock tumbles after Elon Musk tweets buyout deal is ‘temporarily on hold’

Shares of Twitter Inc. TWTR, -9.67% plunged 17.9% in premarket trading Friday, after Elon Musk tweeted that the deal to buy the social media company was “temporarily on hold.” Musk, the chief executive of electric vehicle maker Tesla Inc. TSLA, +5.71%, said the hold on the deal is “pending details supporting calculation that spam/fake accounts […]

May 14
Honest Co. reports narrower-than-expected loss

Honest Co. Inc. HNST, +8.19% shares rose 2.1% in Friday premarket trading after it reported a narrower-than-expected first-quarter loss and revenue that was roughly in line with expectations. The company, which produces “clean” beauty, household, and baby products, posted a net loss of $14.6 million, or 16 cents per share, after a loss of $4.5 […]

May 14
Intercontinental Exchange prices $8 billion in bonds to finance Black Knight acquisition

Intercontinental Exchange ICE, +2.90% said late Thursday it priced $8 billion in bonds to finance its $13 billion acquisition of Black Knight Inc. BKI, -0.10%. The deal has 11 joint book-running managers including Bank of America Corp.’s BAC, +0.29% BofA Securities Inc. unit, Goldman Sachs Group Inc. GS, +2.53%, Wells Fargo Securities LLC WFC, +1.99%, […]

May 14
Figs earnings miss after ‘supply chain chaos’

Shares of medical scrubs and accessories company Figs Inc. FIGS, -24.98% sank 23% in Friday premarket trading after it reported first-quarter results that missed expectations and lowered its guidance. Net income totaled $8.9 million, or 5 cents per share, down from $11.4 million, or 7 cents per share, last year. Revenue of $110.1 million was […]

May 14
Berkshire Hathaway buys about $52 million of Occidental Petroleum stock

Warren Buffett’s holding company Berkshire Hathaway Inc. BRK.A, +0.73% BRK.B, +0.75% acquired 901,768 shares of Occidental Petroleum OXY, +8.21% in two purchases this week valued at a combined $52 million, according to a filing. Berkshire Hathaway bought 716,355 shares at $57.32 a share on Tuesday, and then acquired 185,419 shares at a price of $57.34 […]

May 14
Bitcoin network fortifies as mining difficulty records ATH of 31.251T

BTC’s latest network difficulty all-time high makes it nearly impossible for bad actors to represent over 50% of the hash rate. 1865 Total views 34 Total shares Further distancing itself from any concerns of planned attacks on the blockchain, the Bitcoin (BTC) network established a new mining difficulty all-time high of 31.251 trillion — exceeding […]

May 14
Schwab books highest ever client cash disbursements for tax season

Charles Schwab Corp. SCHW, +1.02% on Friday reported a $6.5 billion drop in net new assets excluding mutual fund clearing as clients sold down their asset for cash disbursements during tax season. The broker said the move marked the highest ever client cash disbursements at Schwab. “These outflows include the impact of client portfolio actions […]

May 14
Investment Bank Outlook 13-05-2022

Credit AgricoleAsia overnight The dust has tentatively settled across financial markets overnight, with risk sentiment making a timid recovery. In this context, the USD has given up only a modest part of the ground made yesterday against all G10 FX peers bar the JPY which has been a clearer underperformer during the Asian session. USD/JPY […]

May 14
Daily Market Outlook, May 13, 2022

Daily Market Outlook, May 13, 2022 Overnight Headlines Shanghai Aims To Achieve No Community Spread By Mid-May Rate Hike Bets Build In Japan, Despite BoJ Easy Money Insistence BoJ’s Kuroda: Expected Rise In Inflation Will Lack Sustainability Kuroda Rules Out Near-Term Chance Of Tweaking BoJ’s Dovish Guidance Australian DefMin: Chinese Spy Ship In Waters ‘An […]

May 14
Crypto.com unblocks users, reverses glitched LUNA trades that made 30-40x

On May 13, Crypto.com abruptly barred users from trading after an internal tool detected the system quoting incorrect prices for LUNA. 3367 Total views 31 Total shares Crypto.com was one of the few crypto exchanges to keep LUNA trades open as Terra’s death spiral saw an unrecoverable price crash of LUNA and stablecoin UST. However, […]