A Word of Warning on the Reddit-Fueled Pumps
It looks like Reddit’s r/WallStreetBets is at it again. GameStop (GME) is up about 80% in pre-market to $165. AMC Entertainment (AMC) is up about 20% to $10.90. Koss Corporation (KOSS) is up 88%, or $16.39 a share. While it’s exciting to watch these stocks take off,...
Don’t Count Workhorse Group Out Just Yet
The U.S. Postal Service just awarded Oshkosh (OSK) $482 million to help modernize its fleet of delivery vehicles. While OSK is up about $15 on the news, Workhorse Group (WKHS) was torn in half, falling nearly $15 a share. According to USPS, “Under the contract’s...
The Top 5 Rules to Follow Every Time Markets Drop
Panic has returned to the market. After hitting all-time highs, the Dow slipped 183 points so far today. The NASDAQ is down about 300, as the S&P sinks about 36 points. Cryptocurrencies are pulling back on Janet Yellen comments. Traders and investors are in panic...
The Top Two Reasons Cryptocurrencies are Pulling Back
Cryptocurrencies hit new highs as institutions and retail investors piled in. Analysts including Anthony Pompliano, co-founder and partner at Morgan Creek Digital Assets, as noted by CNBC, says Bitcoin could rally to $5,000 by the end of the decade. From there, it...
Stock gains power Buffett’s Berkshire Hathaway to higher profit
(Reuters) - Warren Buffett's Berkshire Hathaway Inc on Saturday said quarterly operating income rose 14%, aided by improved results from its insurance businesses, while soaring prices of stock holdings such as Apple Inc led to a nearly $36 billion overall profit....
Robinhood plans confidential IPO filing as soon as March: Bloomberg News
(Reuters) - Online brokerage Robinhood, at the centre of this year's retail trading frenzy, is planning to file confidentially for an initial public offering as soon as March, Bloomberg News reported late on Friday, citing sources. The California-based brokerage has...
AMC Entertainment approves millions in bonuses to top executives
(Reuters) - AMC Entertainment Holdings has approved millions in bonuses to its top executives and eligible employees as a means to preserve stockholder value during the COVID-19 pandemic, the theater operator said. In a regulatory filing on Friday, the company said...
Wall Street Week Ahead: Investors weigh new stock leadership as broader market wobbles
By Lewis Krauskopf NEW YORK (Reuters) - A shakeup in stocks accelerated by the past week's surge in Treasury yields has investors weighing how far a recent leadership rotation in the U.S. equity market can run, and its implications for the broader S&P 500 index....
U.S. SEC suspends trading in 15 securities due to ‘questionable’ social media activity
WASHINGTON (Reuters) - The U.S. securities regulator on Friday suspended trading in the securities of 15 companies because of "questionable trading and social media activity," the latest in a string of temporary trading halts amid volatile trading in so-called "meme...
SoftBank reaches settlement with former WeWork CEO Neumann
(Reuters) - SoftBank Group Corp said on Friday it has reached a settlement with WeWork's special committee and the company's co-founder and former chief executive, Adam Neumann, putting to rest a legal battle dating back to 2019. SoftBank, the new owner of the...
JPMorgan CEO of Chase consumer banking leaving to head TIAA
(This Feb 25 story refiles to correct typographical error in paragraph 3) NEW YORK (Reuters) - JPMorgan Chase & Co's Chief Executive Officer of the Chase Consumer Banking division Thasunda Brown Duckett is leaving America's largest bank to become the head of the...
Nasdaq finishes higher, tech stocks retrace some losses
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The tech-heavy Nasdaq index rallied in choppy trading on Friday, even as sentiment remained fragile after the index's worst performance in four months the day before as fears of rising inflation kept U.S. bond yields...
Exclusive: European officials urge World Bank to exclude fossil-fuel investments
By Kate Abnett and Andrea Shalal WASHINGTON (Reuters) - Senior officials from Europe have urged the World Bank's management to expand its climate change strategy to exclude investments in oil- and coal-related projects around the world, and gradually phase out...
Boeing CEO asked to testify in crash litigation, lawmakers demand FAA release records
By Eric M. Johnson and Tracy Rucinski (Reuters) - Relatives of victims of a Boeing Co 737 MAX crash in Ethiopia that occurred five months after an Indonesian Lion Air disaster are stepping up pressure on the American planemaker and the federal government, according to...
Factbox: Winners and losers in energy sector from Texas cold snap
(Reuters) - A winter storm that hit parts of the southern United States over the past week led several energy companies to report stronger-than-expected results after they were called on to provide more power at higher prices, while others faced millions of dollars in...