Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021. Al Drago | Bloomberg | Getty Images There is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors…
Check out the companies making the biggest moves midday: GameStop — The meme stock plunged more than 28% after the video game retailer posted an abysmal earnings report . Net sales of $881.8 million for the first quarter marked a 29% decline from a year prior. The company also said it would sell additional stock.…
Back in December 2023, when the market was pricing in six or so rate cuts, Apollo Asset Management’s co-president Scott Kleinman had a more contrarian view: He said he’d be betting against any rate cuts in 2024. That call so far has paid off. But higher-for-longer rates haven’t necessarily been a tailwind for the private-equity industry as…
Check out the companies making headlines before the stock market’s opening bell. GameStop — The meme stock declined 5% premarket, giving up a gain of nearly 30% earlier. GameStop posted a surprise earnings report , showing net sales of $882 million for the first quarter, down 29% from a year prior. GME also gave an…
The Credit Suisse Group AG headquarters in Zurich, Switzerland, on Thursday, Aug. 31, 2023. Bloomberg | Bloomberg | Getty Images A group of Credit Suisse bondholders filed a lawsuit against the Swiss government, seeking full compensation over the contentious decision to write down the failed bank’s Additional Tier 1 (AT1) debt. As part of Credit…
Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. CNBC | Evelyn Cheng BEIJING — Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an earnings call Thursday, at a time when rivals have been increasing…
Alibaba.com is a platform run by the Chinese e-commerce company of the same name that focuses on overseas business customers. Sopa Images | Lightrocket | Getty Images BEIJING — Chinese e-commerce giant Alibaba is ramping up its global expansion with new services aimed at attracting small businesses in the U.S. and Europe. Alibaba.com — the…
Check out the companies making headlines in extended trading. Vail Resorts — The resort operator saw its stock fall more than 5% after posting fiscal third-quarter earnings of $9.54 per share on revenue of $1.28 billion. Those results missed analysts’ expectations of $9.97 per share on revenues of $1.3 billion, according to LSEG. DocuSign —…
A shopper browses a selection of body boards outside a Five Below store in Bloomington, Illinois, on July 25, 2018. Daniel Acker | Bloomberg | Getty Images While inflation is showing signs of easing, consumers in the country may still be feeling its effects for quite some time, according to Joel Anderson, CEO of discount…
Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images Shares of GameStop shot to session highs Thursday after meme stock leader Roaring Kitty scheduled a livestream on Youtube, which would be his first one in almost four years. Roaring Kitty, whose real name is Keith Gill, set the time for his live chat at…
