David McNew PacWest Bancorp (NASDAQ:PACW) finally reported much-awaited results for the second quarter after the market closed on Tuesday. Just before the market closed, speculation swirled on rumors that the regional bank was set to merge with regional banking rival Banc of California (BANC), causing shares to plunge by almost 30%. Rumors were later confirmed…
Although Waymo scales down its autonomous truck technology, it would continue partnership with Daimler Truck North America (DTNA) to develop an autonomous truck platform further. In its latest decision, Alphabet-backed Waymo announced that it would scale back on its autonomous truck technology and will focus entirely on its ride-hailing services. In its official announcement, Waymo…
STMicroelectronics N.V. (NYSE:STM) Q2 2023 Earnings Call July 27, 2023 3:30 AM ET Company Participants Celine Berthier – Group Vice President, Head of Investor Relations Jean-Marc Chery – President and Chief Executive Officer Lorenzo Grandi – President of Finance, Purchasing, ERM and Resilience and Chief Financial Officer Conference Call Participants Jérôme Ramel – Exane Francois…
Gemini launched its derivative platform Gemini Foundation in May in the heat of the regulatory tension in the United States. As part of efforts to attract new users to its platform, crypto derivatives exchange Gemini Foundation is set to host its first-ever trading competition next month. The move comes amid Gemini recording a massive decline…
Holcim Ltd (OTCPK:HCMLF) Q2 2023 Earnings Conference Call July 27, 2023 4:00 AM ET Company Participants Bénédicte Mayer – Investor Relations Jan Jenisch – Chairman, CEO Steffen Kindler – CFO Conference Call Participants Paul Roger – Exane Yassine Touahri – On Field Elodie Rall – JPMorgan Arnaud Lehmann – Bank of America Gregor Kuglitsch –…
This is an opinion editorial by Marc Taverner, CEO of XEROF, a digital-asset-focused financial services provider. At long last, we’re entering the era of bitcoin financial products. After several attempts at regulatory approval from numerous financial firms, players like BlackRock may finally get their U.S. bitcoin ETF approved, while global firms like Deutsche Bank are…
Robert vt Hoenderdaal Revenue growth has been hard to come by for incumbent Dutch telecom firm KPN (OTCPK:KKPNY, OTCPK:KKPNF), but a combination of profit margin expansion and solid free cash flow generation has nonetheless supported healthy earnings and dividend growth in recent years. The recent bout of high inflation in the Eurozone has proved an…
Based on the changing regulatory landscape ad the new banking standards, the OSFI is changing rules for the holding of digital assets. On Wednesday, July 26, Canada’s top financial watchdog proposed changes to its capital and liquidity rules for holding crypto assets. As per the Office of the Superintendent of Financial Institutions (OSFI), the newly…
Annabelle Chih Introduction My thesis is that there is no chip manufacturer more important for the smartphone industry than TSMC (NYSE:TSM). Apple’s (AAPL) iPhone can’t exist without TSMC chips. Other major smartphone industry companies like Qualcomm (QCOM) and Huawei have a deep history with TSMC. Smartphones require small leading edge chips for optimal battery life…
Shell is struggling with a continuous fall in profits as Q2 2023 figures show significant reductions compared with last quarter and Q2 2022. Oil giant Shell (LON: SHEL) has posted disappointing profits for Q2 2023, largely caused by a reduction in the prices of fossil fuels. Shell’s report shows that the British giant saw its adjusted…
Lintao Zhang/Getty Images News This week’s meeting of the Politburo, the Chinese ruling party’s top decision-making body, has come and gone with no major policy stimulus announcement. Yet, the meeting takeaways were well-received by the market, likely on hopes of support for the much-troubled property sector, as well as a renewed commitment to private sector…
AWS HealthScribe is designed to generate clinical notes for two medical specialists- general medicine and orthopedics. AWS (Amazon Web Service) has rolled out HealthScribe, a new service for healthcare software providers powered by Amazon Bedrock. The IT service management company announced the AI tool on July 26th at the AWS Summit New York. According to the announcement,…
Justin Sullivan Since our initiation of coverage called “EssilorLuxottica Is A Combination Of Value And Growth,” the company’s stock price (OTCPK:ESLOF)(OTCPK:ESLOY) appreciated by almost 30% (including the dividend payment). Before our deep-dive into the just announced quarterly results, our buy rating is supported by 1) acquisition synergies with GrandVision’s integration; 2) the company’s collaboration renewals;…
The passage of these proposed legislations marks a pivotal moment for the crypto industry as it seeks a clear and unified regulatory framework. The United States House Financial Services Committee has taken a significant step toward providing regulatory clarity to the cryptocurrency industry. On July 26, the Committee, including Reps. Jim Himes and Ritchie Torres,…
Andrey Danilovich/iStock via Getty Images Investment thesis Snowflake (NYSE:SNOW) is transforming how enterprises interact with their data for a while now. One of the most important steps in this process has been the launch of the Snowflake Data Cloud in 2020, which united cloud data warehousing, cloud data lake, data engineering, data science, data applications,…
Binance previously launched a beta version of the AI NFT generator on March 1. The non-fungible token (NFT) arm of crypto exchange Binance may have just announced the launch of its NFT generator called “Bixel”. According to the announcement, Bixel – a tool powered by artificial intelligence (AI) – will allow users to create custom…
Saranya Yuenyong/iStock via Getty Images Investment Thesis Meta Platforms (NASDAQ:META) share price jumped 7% premarket. And guess what? I believe that we’ll look back in twelve months and see that paying $320 per share for Meta was a bargain. Recall, since the start of 2023, mega-cap Meta’s share price was already up more than 130%…
New York Federal Prosecutor asked Judge Lewis Kaplan to jail former FTX boss SBF for crossing the line after giving journalists personal writings by Caroline Ellison. The investigations of FTX and Alameda Research collapse have significantly unraveled the rot that was orchestrated by Sam Bankman-Fried (SBF) in squandering investors’ and customers’ funds. Hiding in the…
Milanchikov/iStock via Getty Images By Doug Young A new upside profit alert from Jiumaojiu International Holdings Ltd. (OTCPK:JIUMF) (9922.HK) continues a recent trend among Chinese restaurants that are bouncing back strongly from a huge blow during some of China’s strictest-ever pandemic controls last year. But the rebound has been far from even for consumer-facing companies…
As of now, Binance retains the majority of the crypto market share despite the regulatory challenges. Binance has withdrawn its application for a crypto license in Germany, citing the changing situation in the global market and regulation. Earlier in June, reports emerged suggesting that the German Federal Financial Supervisory Authority (BaFin) declined the exchange’s license…
WANAN YOSSINGKUM Summary Following my coverage on MSCI (NYSE:MSCI), which I recommended a buy rating based on my positive long-term view of the business, where its unique databases serve as a strong competitive advantage despite short-term earnings drags. This post is to provide an update on my thoughts on the business and stock. I reiterate…
The UK Judge said that Craig Wright won’t be able to pay the legal costs while mentioning his previous inconsistent statements about his financial position. Craig Wright, the self-proclaimed Bitcoin founder Satoshi Nakamoto, is likely to pay hefty legal costs in pursuing the case against crypto exchanges Coinbase and Kraken. In a recent development, James…
JLGutierrez By Lindsey Cwik While week-to-week claims data can be highly volatile, broader momentum indicates a robust labor market. Fraudulent applications, seasonal anomalies and antiquated state unemployment insurance systems have recently called into question the reliability of the Department of Labor’s Unemployment Insurance (UI) Weekly Claims report. These idiosyncratic factors have been sources of distortion…
According to Alderoty, Ripple will handle any appeal the SEC decides to initiate even though he is confident in the judge’s previous ruling. Ripple Labs chief legal officer Stuart Alderoty has dismissed worries surrounding the possible outcome of a potential SEC appeal against the blockchain company’s win. According to Alderoty, the SEC could magnify its…
Receive free Centrica PLC updates We’ll send you a myFT Daily Digest email rounding up the latest Centrica PLC news every morning. Centrica has reported an almost 10-fold surge in first-half profits at British Gas, the UK’s largest household energy supplier. The company said on Thursday that margins at British Gas, which has almost 7.5mn…
The collaboration between Alibaba and Meta holds significant implications for both companies. Artificial intelligence (AI) has become the driving force behind transformative technologies, revolutionizing industries across the globe. In a groundbreaking move towards advancing AI innovation, Alibaba Group‘s cloud computing division and Meta Platform Inc have joined forces to support Meta’s newly launched open-source AI…
The losses from Ukraine’s much vaunted counteroffensive were heavy and early. Pushing into the country’s sprawling southern fields earlier this summer, Kyiv lost almost a fifth of Nato kit provided for the operation, according to Ukrainian and western officials. Kyiv’s military response across much of the frontline is now becoming clear: to change tactics. The…
Sundar Pichai revealed that the company was planning to use new AI models to automate some customer services. Alphabet‘s second-quarter earnings report released on Tuesday shows that the company surpassed revenue and profit expectations despite challenges such as a plunging digital advertisement market and the emergence of AI-powered chatbots. Shares rose about 7% in after-hours…
Receive free US economy updates We’ll send you a myFT Daily Digest email rounding up the latest US economy news every morning. Federal Reserve chair Jay Powell had a message for global markets on Wednesday after the US central bank raised interest rates again: no one should doubt its resolve to snuff out stubbornly-high inflation…
The latest report marks Deutsche Bank’s 12th straight quarterly profit since it implemented a restructuring plan back in 2019. Deutsche Bank has just released its quarterly report and it appears that the bank has outperformed analysts’ projections. This follows after Reuters previously held a poll asking analysts to project Deutsche Bank’s net profit for the…
Receive free BNP Paribas SA updates We’ll send you a myFT Daily Digest email rounding up the latest BNP Paribas SA news every morning. Litigation and restructuring costs dragged on BNP Paribas’s revenue and net income in the second quarter, even as the French bank profited from rising interest rates across its businesses and charges…
Ant Group’s IPO was halted in 2020 after the Chinese government intervened, citing rising concerns about the company’s growth and potential systemic threats to the financial industry. Chinese fintech giant Ant Group, backed by billionaire Jack Ma, has made headlines with its plan to undergo a strategic restructuring and cut ties with non-core operations. This…
Receive free Electric vehicles updates We’ll send you a myFT Daily Digest email rounding up the latest Electric vehicles news every morning. Shares in Chinese electric-vehicle makers rose sharply on Thursday after Volkswagen announced a tie-up with Chinese rival Xpeng designed to boost the German car manufacturer’s lagging sales in the country. Xpeng’s Hong Kong-listed…
The new foldable smartphones are thinner, faster, and generally better than their predecessors, according to Samsung. Samsung has added two new devices to its range of foldable smartphones. On Wednesday, the company announced the Galaxy Z Flip 5 and the Galaxy Fold 5, along with other devices. Both foldable smartphones are much lighter and thinner than…
imaginima I’ve been a pretty big bull on electrification as a secular growth story, but even then I underestimated just how much strength Hubbell (NYSE:HUBB) was going to see (particularly in its transmission and distribution, or T&D, business) and how eagerly the Street would bid up the shares in response. Even with a recent correction,…
This is an opinion editorial by HodlingCarla, an avid traveler and Bitcoin advocate. Few things get me as excited as visiting a new corner of the world, and my passport can attest to that. I’ve visited 45 countries, lived in nine and covered all continents except Antarctica. After years of globetrotting, I thought that part…
JD.com (NASDAQ:JD) has often been ignored by American investors. The company often seems like the not so famous cousin of (BABA). Typically, the stock has been a bargain though under $35. The last time we bought JD was in 2020 for around $34 and watched it make a huge run before selling in 2021 for…
This is an opinion editorial by Jesse Shrader, the co-founder and CEO of Amboss, a Lightning Network explorer and analytics tool. For years, you could basically only do two things on the Bitcoin network: You could save BTC or you could spend it. Then, a late 2021 privacy upgrade had the unintended consequence of allowing…
MadamLead/iStock via Getty Images As you might know, Intellia Therapeutics (NASDAQ:NTLA) is a biotech company that uses gene-editing technology to craft therapies for rare diseases and cancer. I’ve been a fan of Intellia for a good while, and here’s my simple reason for investing: (1) Early tests have given the thumbs up for Intellia’s future…
This is an opinion editorial by niftynei, a developer educator who runs the Base58 Bitcoin protocol academy and an organizer of the upcoming, Nix-focused Bitcoin++ conference. When you want to install a new app on your computer, where do you get it from? Deciding which source to use is a problem that’s surprisingly difficult to…
Goosehead Insurance, Inc. (NASDAQ:GSHD) Q2 2023 Earnings Conference Call July 26, 2023 4:30 PM ET Corporate Participants Dan Farrell – Vice President, Capital Markets Mark Jones – Chairman and Chief Executive Officer Mark Miller – President and Chief Operating Officer Mark Jones Jr. – Chief Financial Officer Conference Call Participants Matt Carletti – JMP Michael…
BlackRock, the world’s largest asset manager with nearly $9 trillion in assets under management, has made significant strides toward embracing bitcoin, as indicated by its recent filing for a spot bitcoin exchange-traded fund. The company’s decision to take steps to offer its clients exposure to the digital asset are likely to bring a surge of…
Totojang/iStock via Getty Images By Coco Zhang, Ewa Manthey, Rico Luman China dominates downstream EV battery supply chains China has massively pushed electric vehicle (EV) sales in recent years which has helped to further develop the battery supply chain. China’s dominant role in battery metals supply chains, as well as export restrictions in other countries,…
This is an opinion editorial by Leon Wankum, a HODLer who is active in real estate and venture capital with a master’s degree in financial economics. On August 15, 1971, U.S. President Richard Nixon announced that the United States would end the convertibility of the U.S. dollar into gold. Since then, central banks around the…
Pathward Financial, Inc. (NASDAQ:CASH) Q3 2023 Earnings Conference Call July 26, 2023 5:00 PM ET Company Participants Darby Schoenfeld – Senior Vice President, Investor Relations Brett Pharr – Chief Executive Officer Glen Herrick – Executive Vice President and Chief Financial Officer Conference Call Participants Frank Schiraldi – Piper Sandler Michael Perito – KBW David Feaster…
ZEBEDEE, a FinTech and payments processor, has partnered with Beamable to simplify the integration of bitcoin transactions into gaming. This collaboration aims to remove the need for a server or systems operations team, making it easier for developers to add server-side features to games while ensuring superior security. Beamable’s platform enables game developers to integrate…
Telefônica Brasil S.A. (NYSE:VIV) Q2 2023 Earnings Conference Call July 26, 2023 9:00 AM ET Company Participants Joao Pedro Carneiro – IR Director Christian Gebara – CEO David Melcon – CFO and IR Officer Conference Call Participants Marco Nardini – XP Marcelo Santos – JPMorgan Andre Salles – UBS Frederico Mendes – Bank of America…
The article below is an excerpt from a recent edition of Bitcoin Magazine PRO, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. The Arrival Of BlackRock As most readers are likely aware, ripples were sent through the…
The Western Union Company (NYSE:WU) Q2 2023 Results Conference Call July 26, 2023 4:30 PM ET Company Participants Tom Hadley – Head, IR Devin McGranahan – CEO Matt Cagwin – CFO Conference Call Participants Will Nance – Goldman Sachs Andrew Schmidt – Citi Bryan Keane – Deutsche Bank Darrin Peller – Wolfe Research David Togut…
Bitcoin Startup Lab is gearing up for its Summer 2023 cohort, bringing together industry titans, investors and innovators to fuel growth in the Bitcoin ecosystem. With a focus on collaboration and mentorship, the pre-accelerator program aims to enable founders to create innovative solutions on Bitcoin. The program spans 12 weeks and has doubled the number…