Bitcoin may start to lose its reputation as a volatile asset. According to Bitwise Asset Management’s Matt Hougan, the cryptocurrency’s wild price swings have come down substantially over the past decade. “What’s driving the bitcoin market right now is a simple demand-supply imbalance,” the firm’s chief investment officer told CNBC’s “ETF Edge” on Monday. “We…
Check out the companies making headlines in midday trading. Geron Corporation — Shares of the biotech company soared 90% after a U.S. Food and Drug Administration advisory panel voted in favor of Geron’s blood disorder treatment, imetelstat. Geron expects a regulatory decision in June. Micron Technology — The semiconductor stock gained 2.4% after Citi named…
Check out the companies making the biggest moves in premarket trading: Rivian Automotive — The EV stock added nearly 4% following an upgrade by Piper Sandler to overweight . The firm also upped its price target to $21 from $15, suggesting 96% upside from Thursday’s close. Analyst Alexander Potter cited Rivian’s new product launch and…
Bitcoin offices are seen in Istanbul, Turkey, on February 28, 2024. Umit Turhan Coskun | Nurphoto | Getty Images Bitcoin suffered a steep drop in overnight trading, showing that the world’s largest cryptocurrency hasn’t shaken its tendency for big drops despite continuing to gain acceptance within the mainstream financial world. Data from Coin Metrics shows…
The Morgan Stanley digital sign is seen at the company’s Times Square headquarters in New York, U.S., on Friday, Jan. 12, 2016. John Taggart | Bloomberg | Getty Images Morgan Stanley promoted a tech executive in its wealth management division to become the bank’s first head of firm-wide artificial intelligence, CNBC has learned. The bank…
Check out the companies making headlines in after-hours trading. Adobe — The software stock tumbled 10% on the back of weak guidance for current-quarter revenue. Despite that, Adobe beat analysts’ predictions on both lines in its fiscal first quarter and announced a $25 billion share buyback. Ulta — The beauty retailer slipped 5% as full-year…
Check out the companies making headlines in midday trading. Dick’s Sporting Goods — Shares jumped 14% after the sporting goods retailer posted fourth-quarter results that exceeded expectations. Dick’s Sporting Goods reported earnings of $3.85 per share on revenue of $3.88 billion. Analysts surveyed by LSEG, formerly Refinitiv, had expected earnings per share of $3.35 on…
The Hong Kong observation wheel and the HSBC building in Victoria Harbour in Hong Kong. Ucg | Universal Images Group | Getty Images HSBC is “very positive” about the mid to long-term outlook for the Chinese economy despite current headwinds, the British bank’s chief financial officer told CNBC. Growth in China has been weighed down…
Tracy Britt Cool has been busy acquiring midsized companies — ones too small for her old boss Warren Buffett at Berkshire Hathaway — and now she wants to build a close-knit community for these smaller businesses. The 39-year-old investor struck out on her own in 2020 after working for Buffett for a decade. Her Charlotte…
Video of former President Donald Trump and President Joe Biden is played during a hearing by the Select Committee to Investigate the January 6th Attack on the U.S. Capitol on June 13, 2022 in Washington. Chip Somodevilla | Getty Images News | Getty Images WEST PALM BEACH, Fla. — Investors’ emotions may run high in…
