Brian Moynihan, Bank of America CEO.Photo by John Lamparski/Getty Images Bank of America reported fourth-quarter earnings Wednesday that beat/missed Wall Street’s forecasts. The lender’s profit rose 28% to $7.01 billion or $0.82 a share, beating analyst estimates of $0.75 a share. Quarterly revenue came in at $22.1 billion, just under Bloomberg analyst estimates of $22.2… Continue reading Bank of America beats 4th-quarter profit estimates on record investment banking fees
Sony loses $20 billion in market value after Microsoft’s massive deal to buy Activision Blizzard knocks its shares
Rokas Tenys/Shutterstock Sony’s market value dropped $20 billion in a single day after its shares lost almost 13% in Tokyo. The stock fell after Microsoft said it plans to buy ‘Call of Duty’ maker Activision Blizzard for almost $69 billion. Sony’s PlayStation console is a rival to Xbox from Microsoft, which could make some Activision… Continue reading Sony loses $20 billion in market value after Microsoft’s massive deal to buy Activision Blizzard knocks its shares
Billionaire investor Howard Marks says he’s worried about excessive inflation — and shares 2 strategic investments for the current environment
Howard Marks.Screengrab via Bloomberg Howard Marks is worried about “excessive” inflation and said it isn’t desirable. “Higher inflation means higher interest rates, higher interest means lower asset prices,” he told Bloomberg Tuesday. He shared two ways investors can prepare for an era of inflation. Sign up here for our daily newsletter, 10 Things Before the… Continue reading Billionaire investor Howard Marks says he’s worried about excessive inflation — and shares 2 strategic investments for the current environment
Bitcoin billionaire Mike Novogratz says crypto prices will stay under pressure as bond yields shoot higher
Mike Novogratz is one of the most high-profile bitcoin and crypto investors.John Lamparski/Getty Images Billionaire investor Mike Novogratz has said crypto prices will stay under pressure as bond yields shoot higher. Bitcoin has tumbled over the last month to trade at around $41,000 — far below November’s record high of $69,000. Many investors are nervous… Continue reading Bitcoin billionaire Mike Novogratz says crypto prices will stay under pressure as bond yields shoot higher
‘Black Swan’ author Nassim Taleb compared bitcoin to a disease, called it a speculative bubble, and warned it was worthless. Here are his 8 best tweets about the crypto.
Nassim Taleb.Mohd Zakir/Hindustan Times via Getty Images Nassim Taleb has compared bitcoin to a disease and called it worthless in recent months. “The Black Swan” author said the cryptocurrency is in a fragile, speculative bubble. Bitcoin isn’t a currency, store of value, inflation hedge, or haven for investors, Taleb said. Nassim Nicholas Taleb has fired… Continue reading ‘Black Swan’ author Nassim Taleb compared bitcoin to a disease, called it a speculative bubble, and warned it was worthless. Here are his 8 best tweets about the crypto.
JPMorgan says ethereum is losing ground to rivals in the NFT market, which could boost the likes of solana
CryptoPunks are some of the most popular NFTs.Rokas Tenys High gas fees and congestion have pushed NFT apps away from the ethereum network, JPMorgan said. The bank’s analysts found ethereum’s NFT volume share has fallen from 95% at the start of 2021 to around 80%. If the trend continues, it could start hitting ethereum’s price,… Continue reading JPMorgan says ethereum is losing ground to rivals in the NFT market, which could boost the likes of solana
US tech stock futures plunge as bond yields shoot higher, while oil hits a 7-year high
Stocks have had a rocky start to the year.Xinhua News Agency/Getty Images Dow futures fell 250 points early Tuesday, as bond yields rose to levels not seen since before the pandemic. Tech stocks look set to resume their slide, with investors betting the Fed will move to tackle hot inflation. Oil prices rose to their… Continue reading US tech stock futures plunge as bond yields shoot higher, while oil hits a 7-year high
Ark Invest’s Cathie Wood points to El Salvador’s bitcoin push as one way innovation is making people’s lives better
A woman withdraws money from a bitcoin ATM in El Salvador.Camilo Freedman/SOPA Images/LightRocket via Getty Images Cathie Wood noted El Salvador’s bitcoin adoption has doubled how many citizens can access financial services. The Ark CEO believes allocating capital to innovation will benefit people’s lives around the world in the long run. Through mobile phone technology,… Continue reading Ark Invest’s Cathie Wood points to El Salvador’s bitcoin push as one way innovation is making people’s lives better
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