Mergers and acquisitions may be exiting their recent slump with multiple takeover deals suddenly making news. Public Storage (PSA) made an $11 billion bid for Life Storage (LSI) on Sunday. Also Sunday, gold miner Newmont (NEM) offered $16.9 billion for smaller competitor Newcrest Mining (NCMGY). Meanwhile, shares of drug components supplier Catalent (CTLT) spiked 19.5%…
Binance, the world’s largest cryptocurrency exchange, said it’s temporarily suspending deposits and withdrawals of US dollars using bank accounts, and will work to restart the service soon. The suspension will start Wednesday, according to a Binance spokesperson. No specific reason was given for the suspension. Bank transfers using other fiat currencies, such as euros, are…
These stocks will generate steady earnings and pay out dividends for decades to come. Inflation rocked the U.S. economy in 2022. Rising prices across the board led to higher costs for consumer products. But one company’s cost is another’s revenue, and in the cases of rising commodity, energy, and agricultural prices, plenty of sectors benefited…
More than half of the institutional traders surveyed by global financial services giant JP Morgan said that artificial intelligence and machine learning will be the most influential technology in shaping the future of trading over the next three years—cited four times more often than blockchain and distributed ledger technology. JP Morgan’s e-Trading Edit report is…
Apple (AAPL) CEO Tim Cook and his righthand CFO Luca Maestri channeled their inner Wall Street economist on the tech giant’s earnings call late Thursday, and investors aren’t liking it. Shares of Apple — which had reverted to slightly positive in after-hours trading on upbeat China demand comments on the earnings call — fell more…
Alphabet Inc on Thursday posted fourth-quarter profit and sales short of Wall Street expectations as Google’s advertising clients pulled back spending from a period of pandemic-led excess. Executives of the search and advertising giant adopted a subdued tone on a call with investors, promising an extended period of belt-tightening, particularly on hiring, real estate costs…
A short-term saver? Say thanks to the Federal Reserve. One benefit of the Fed’s interest-rate hikes aimed at wresting control over inflation is that savers looking for a safe investment for a year or less can now get the best yields in ages from Treasury bills, or T-bills. Savings rates have jumped from just about…
Japanese automaker Mazda (7261.T) has a small, yet cult-like following here in the U.S. While fans of Mazda enjoy the driver-focused characteristics and sporty handling, there is one one area that the company is lagging: electrification. Though the brand had a strong Q4 in North America—sales jumped around 40% versus a year ago—Mazda saw its…
Holiday earnings will have to greatly exceed expectations for Amazon to reach an annual profit for the year. Amazon.com Inc. is expected to reveal this week its first unprofitable year since 2014 and the worst year for its bottom line since 2000 — and expectations for this year aren’t headed in a positive direction. Amazon…
Snap (SNAP) reported its Q4 2022 earnings on Jan. 31, meeting analysts’ expectations on revenue and user growth, but clocking a net loss and weak guidance for this year’s Q1. Here are the key numbers that emerged from Snap’s report, as compared with Wall Street’s estimates: Q4 Revenue: $1.3 billion actual versus $1.31 billion expected…