A logo outside a Societe Generale SA office building in central Paris, France, on Monday, Feb. 5, 2024. Bloomberg | Bloomberg | Getty Images A former Societe Generale trader who was fired for unauthorized risky bets has lambasted the French bank for making him a “scapegoat” and failing to take its share of responsibility for…
Check out the companies making headlines in after-hours trading: Apple — The iPhone maker advanced 7% as it announced a $110 billion share repurchase and a top- and bottom-line beat. Apple’s fiscal second-quarter earnings came in at $1.53 per share, while revenue was $90.75 billion. That surpassed analysts’ estimates for earnings of $1.50 per share…
Check out the companies making headlines in midday trading: Apple — Shares ticked up roughly 2% ahead of the iPhone maker’s second-quarter results due after the closing bell. Peloton — Shares dropped 13% after the exercise equipment company announced Thursday that CEO Barry McCarthy will be stepping down and that the company will lay off…
Check out the companies making the biggest moves in premarket trading: Peloton Interactive — Shares climbed 15% after the fitness company announced CEO Barry McCarthy will step down while it seeks a permanent CEO. Peloton also set a restructuring plan that will cut 15% of its staff, or about 400 employees. Once a pandemic darling,…
Check out the companies making headlines in extended trading: DoorDash — Shares of the food delivery company tumbled 13% after its first-quarter report revealed a wider-than-expected loss. DoorDash lost 6 cents per share on $2.51 billion in revenue. Analysts surveyed by LSEG were expecting a loss of 4 cents per share on $2.45 billion in…
Key Points DoubleLine Capital CEO Jeffrey Gundlach said Wednesday that he now sees no more than one interest rate cut this year. The noted fixed income investor said the most important moment from the Fed’s policy event on Wednesday was when the central bank’s Chair Jerome Powell all but ruled out the possibility of a rate hike. Treasury…
U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., on March 20, 2024. Elizabeth Frantz | Reuters This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in March. Text removed…
Hundreds of small and regional banks across the U.S. are feeling stressed. “You could see some banks either fail or at least, you know, dip below their minimum capital requirements,” Christopher Wolfe, managing director and head of North American banks at Fitch Ratings, told CNBC. Consulting firm Klaros Group analyzed about 4,000 U.S. banks and…
A New York Community Bank stands in Brooklyn, New York City, on Feb. 8, 2024. Spencer Platt | Getty Images New York Community Bank on Wednesday posted a quarterly loss of $335 million on a rising tide of soured commercial loans and higher expenses, but the lender’s stock surged on its new performance targets. The…
Check out the companies making headlines in premarket trading. Pfizer — Shares climbed more than 2% after New York City-based Pfizer beat Wall Street’s first-quarter revenue forecast and raised its full-year profit guidance. The drugmaker now expects adjusted earnings of $2.15 to $2.35 per share for the full-year, up from a previous forecast of $2.05…
