Mary Daly, the president of the Federal Reserve Bank of San Francisco, expressed that although tighter monetary policy is helping to decrease the pace of inflation, policymakers should not feel too comfortable with the current level. In an interview on CNBC’s “The Exchange,” Daly stated that the news on inflation has been positive, but it…
Stock Market News Update: Several major companies are making headlines in midday trading today. – Groupon: The online marketplace company saw its shares plunge 39.5% after falling short of third-quarter revenue and global gross billings expectations. It also approved an $80 million rights offering to shareholders. – Wynn Resorts: The resort-and-casino stock dropped 7.3% as…
Check Out the Companies Making Headlines Before the Bell Several prominent companies are experiencing significant shifts in their stock prices before the trading day even begins. Wynn Resorts, a major player in the casino industry, saw a more than 5% dip after reporting a successful third quarter in terms of both top and bottom line…
The U.S. division of Chinese bank ICBC hit by cyberattack The U.S. financial services division of the Industrial & Commercial Bank of China (ICBC) was targeted in a cyberattack that reportedly disrupted the trading of Treasurys. ICBC, which is the world’s largest lender by assets, confirmed that its financial services arm experienced a ransomware attack,…
Chinese data company Qichacha has announced its resumption of overseas operations after passing a data export security assessment. This move reflects a relaxation in China’s strict government controls on data sharing due to national security concerns. The company is the first to receive approval from the Cyberspace Administration of China for providing corporate creditworthiness data…
Chinese EV startup Li Auto outperforms Tesla’s China business in October In October, the China Passenger Car Association reported that Chinese startup Li Auto sold significantly more vehicles than Tesla’s China business. Li Auto broke records by selling 40,422 cars, far surpassing Tesla’s sales of 28,626 cars. The association’s data also revealed that Li Auto…
Top Companies Experience Volatility in After-Hours Trading Several major companies saw significant shifts in their stock prices during after-hours trading, with Wynn Resorts, Illumina, Synaptics, TKO Group Holdings, Unity Software, The Trade Desk, and Capri Holdings all making headlines. Wynn Resorts shares dropped by 6% following the release of the casino operator’s third-quarter earnings. While…
In midday trading, several companies are making significant headlines. Affirm’s shares surged by 17%, following their fiscal first-quarter revenue report that exceeded expectations. Virgin Galactic Holdings saw a 20% rally after announcing cost-saving initiatives, including pausing spaceflight operations next year and laying off 18% of its workforce. Duolingo also experienced a 17% surge in shares,…
Quiet IPO Market Reflects Challenging Times All seems quiet in IPO land as traders at the New York Stock Exchange (NYSE) reflect on the scarce activity ahead of the typically bustling holiday season. With the usually active pre-Thanksgiving period yielding little to no sign of significant IPOs, companies and market analysts are expressing doubts about…
Sony reported a 29% decrease in operating profit for the second fiscal quarter due to struggles in its imaging sensor business. The company’s revenue came in at 2.8 trillion yen, which was lower than the expected 2.87 trillion yen, but still marked an 8% increase year-over-year. Operating profit reached 263 billion Japanese yen, also falling…
