News

: Best Buy’s stock slides premarket after revenue miss and as retailer lowers guidance

Best Buy Co. Inc.’s stock BBY fell 2.4% in premarket trade Tuesday, after the electronics retailer posted weaker-than-expected third-quarter revenue and lowered guidance to reflect a choppy and uncertain environment. The company had net income of $263 ...

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21 Nov 2023

: Kohl’s stock drops after profit tops expectations but same-store sales miss

Shares of Kohl’s Corp. KSS dropped 3.3% in premarket trading Tuesday, after the department store chain beat profit expectations but missed on same-store sales and trimmed its full-year revenue outlook. Net income for the quarter to Oc.t 28 fell to $111...

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21 Nov 2023

: Merck paying $610 million for Caraway Therapeutics

Merck & Co. Inc. MRK said Tuesday it agreed to pay up to $610 million to acquire Caraway Therapeutics, a preclinical biopharmaceutical company pursuing new approaches for the treatment of genetically defined neurodegenerative and rare diseases. The com...

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21 Nov 2023

The Big Bank With a $15 Billion Conundrum in China

HSBC has a big stake in a Chinese lender that it can’t easily sell and that could require a big write-down.

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21 Nov 2023

: Burlington Stores stock soars after earnings beat expectations, margins improve and November off to ‘solid’ start

Shares of Burlington Stores Inc. BURL leapt 9.9% toward a two-month high in premarket trading Tuesday, after the discount apparel and footwear retailer topped profit and same-store sales expectations, and said the current quarter was off to a “solid” s...

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21 Nov 2023

LBank Labs Winter Bootcamp 2024: The Epicenter of Blockchain Innovation

PRESS RELEASE. A short recap from Summer Bootcamp 2023. Following our hugely successful Cabo Mexico Bootcamp with 12 finalist teams selected from 70+ projects and 3 of 12 received extra grants for innovation, feasibility and improvement. We’re bringing together luminaries from over a dozen global top universities like CMU, Colombia, Berkeley, Stanford, Imperial College and […]

21 Nov 2023

RBA Minutes Reveal Motive Behind the November Hike

The RBA weighed up the pros and cons of hiking rates in November and decided it was crucial to anchor inflation expectations. Higher demand also seen contributing to CPI

Forex

21 Nov 2023

: Medtronic’s second-quarter earnings top estimates as medical device maker raises guidance

Medtronic PLC’s stock MDT rose 0.8% premarket Tuesday, after the medical device maker posted better-than-expected earnings for its fiscal second quarter and raised guidance. Dublin-based Medtronic posted net income of $909 million, or 68 cents a share,...

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21 Nov 2023

Warren Buffett Is Going Big, Not Home, in Japan

The Nikkei touched a 33-year high as a move by Buffett stirred speculation that he might increase his bet on Japanese equities.

News

21 Nov 2023

: Hibbett Q3 earnings sweep past estimates and retailer raises profit guidance

Hibbett Inc. HIBB posted better-than-expected earnings for the third quarter on Tuesday, and raised its guidance, despite a still challenging retail environment. The sporting goods retailer posted net income of $25.5 million, or $2.05 a share, for the ...

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21 Nov 2023

GM’s Driverless Taxis Need to Slow Down

A more cautious approach can rebuild trust, but will also threaten the commercial promise that kept robotaxi venture Cruise on the road financially.

News

21 Nov 2023

Crypto Miner Phoenix Group Says UAE Initial Share Sale Was 33-Times Oversubscribed

Phoenix was looking to sell almost 18% of the company for a target raise of $368 million.

21 Nov 2023

Bitcoin stalls below $38K as analysis hints ‘Notorious B.I.D.’ is back

Bitcoin whale entities are bringing back the status quo from Bitcoin’s Q1 breakout, with the BTC price battleground now clearly defined.

21 Nov 2023

CZ, Buterin, Dorsey top crypto social media popularity charts as SBF clings to 10th place

MicroStrategy co-founder Michael Saylor and ARK Invest CEO Cathie Wood complete the top five rankings for most followed crypto entrepreneurs on social media.

21 Nov 2023

: Zions Bancorp downgraded to neutral from buy at Citi

Zions Bancorp ZION has been downgraded to neutral from buy on valuation grounds by Citi analyst Keith Horwitz, who kept his price target of $37 a share on the regional bank. “Zion trades near the median on our implied cost of equity metric and we see m...

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21 Nov 2023

: Lowe’s sees pullback in discretionary spending, cuts earnings outlook

Lowe’s Cos. Inc. shares LOW were falling more than 5% in Tuesday’s premarket trading after the home-improvement company trimmed its full-year outlook and called out pressure on discretionary spending. The company logged fiscal third-quarter net earning...

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21 Nov 2023

Artificial Intelligence Technology Brings Benefits, Risks to Banking: Bank of America

AI has the potential to improve productivity and enhance bank returns, the report said.

21 Nov 2023

: CRH to pay $2.1 billion for South Texas cement operations of Martin Marietta Materials

CRH CRH said it’s paying $2.1 billion for South Texas cement operations from Martin Marietta Materials MLM. CRH, which separately reported earnings, said the combined portfolio of assets is expected to generate pro-forma 2023 EBITDA of approximately $1...

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21 Nov 2023

For Argentina, Dollarization May Work Better on YouTube Than in Reality

Anarcho-capitalist President-elect Javier Milei is right that the country desperately needs dollars. But his economic plan for getting them may be the wrong one.

News

21 Nov 2023

Fed Minutes Release May Be a Non-Event for Bitcoin

The minutes of the Nov. 1 Fed meeting may be outdated, given the post-meeting softness in economic data and resulting expectations for renewed interest-rate cuts in 2024.

21 Nov 2023

Crypto community responds to Kraken lawsuit, Deaton slams ‘dishonorable’ Gensler

The crypto community, including prominent industry lawyers and U.S. Senator Cynthia Lummis, is sounding off about the new lawsuit filed by the U.S. SEC against cryptocurrency exchange Kraken.

21 Nov 2023

Bitcoin Faces Headwinds as ETF Optimism Stalls; DOGE, SOL Give Back Gains

Ether (ETH) lost 0.5%, while dogecoin (DOGE) and solana (SOL) slumped as much as 5% as traders likely took profits.

21 Nov 2023

Dow, Nikkei 225 and CAC40 Continue to Make Gains

The Dow is at its highest level since the summer, while the Nikkei 225 is contemplating more gains to take it to a multi-decade peak, and the CAC40 has regained the 200-day moving average.

Forex

21 Nov 2023

Tether Deposits of $1B With UK Financial Firm Are at Center of High Court Battle: FT

Tether deposited the funds with a subsidiary of investment bank Britannia Financial, according to the report, which cited filings made in the High Court.

21 Nov 2023

Discovery World Corporation marks 10th listing anniversary

The Philippine Stock Exchange, Inc. (PSE) hosted a bell ringing ceremony for Discovery World Corporation (DWC) to mark the company’s tenth anniversary as a publicly listed company. DWC raised Php 551.04 million from the sale of primary common shares during its initial public offering (IPO). In his welcome message during the event, PSE President and CEO Ramon…

News

21 Nov 2023

Canadian Regulator Seeks Feedback on Disclosure Rules for Bank Crypto Exposures

The country hopes to align local requirements with those proposed by international banking regulators.

21 Nov 2023

Crypto Exchange Bittrex Global to Shut Down

All trading on the platform will be disabled on Dec. 4, several months after Bittrex's U.S. arm filed for bankruptcy and stopped operations.

21 Nov 2023

New Ethereum Layer 2 Blast Attracts $30M Hours After Bridge Goes Live

Blast boasts prominent investors Paradigm and eGirl Capital among others, but there’s no way to withdraw funds until February.

21 Nov 2023

GBP Price Forecast: Pound Gears Up for FOMC as Markets Process UK Borrowing

Pound prices stay elevated after UK public sector borrowing beat expectations but highlighted the persistent debt crisis. FOMC minutes next up for GBP/USD.

Forex

21 Nov 2023

Coins.ph Paves the Way for Frictionless Remittances with PayPal USD

Coins.ph, the Philippines’ leading cryptocurrency exchange, announced its partnership with Paxos Trust Company, a New York-based institution specializing in blockchain, to grow the adoption of PayPal USD (PYUSD) for streamlined and efficient cross-border remittances.

21 Nov 2023