Business

U.S. Treasury’s Yellen to meet financial regulators Thursday to discuss volatility

U.S. Treasury Secretary Janet Yellen will meet top financial regulators on Thursday to discuss recent volatility in financial markets driven by trading in stocks, including GameStop Corp, the Department of Treasury said. Yellen will meet with the heads of the Securities and Exchange Commission, Federal Reserve Board, Federal Reserve Bank of New York, and Commodity […]

Business

Reddit rally’ stocks bounce on day after selloff, then dip after hours

GameStop and other social media darlings rebounded in calmer trading on Wednesday from their sharp sell-off in the prior session as investors turned their focus to the possibility of tighter U.S. trading regulations. However, the so-called “Reddit rally” cooled again in after hours trade, as GameStop and AMC Entertainment, the main targets hyped on investment […]

Business

Pinterest beats estimates on ad spending recovery, strong user growth

Image-sharing company Pinterest Inc reported better-than-expected quarterly results on Thursday, benefiting from strong user growth and heavy advertising by e-commerce retailers during the holiday season. Shares of the company jumped nearly 10% in extended trading as its first-quarter sales growth forecast of a rise in the low 70% range also beat Wall Street expectations of […]

Business

Global equities markets rise on better outlook, dollar gains

Global equities rallied for a fourth day of gains on Thursday as signs of a stable U.S. labor market, a revitalized dollar and rising bond yields turned attention to economies on the mend rather than the recent trading feud sparked by retail investors. Longer-term U.S. Treasury yields rose in anticipation of a large pandemic relief […]

Business

NY money manager charged in $1.8 billion Ponzi-like fraud

The founder of a New York money manager and two associates were criminally charged on Thursday with running a $1.8 billion Ponzi-like fraud where thousands of victims were falsely promised steady returns on their investments. David Gentile, the chief executive of GPB Capital Holdings LLC, was accused of cheating more than 17,000 retail investors taken […]

Business

Activision Blizzard’s annual sales forecast tops estimates on ‘Call of Duty’ boost

The company expects full-year adjusted sales to be $8.45 billion, above Wall Street’s average estimate of $8.31 billion, according to Refinitiv IBES data. Shares of the company were up nearly 5% in extended trading. In the United States alone, videogame sales jumped 25% year-over-year to $7.7 billion in December and Activision’s “Call of Duty: Black […]

Business

SoftBank third-quarter earnings recovery seen driven by IPO boom

SoftBank Group Corp is expected to extend earnings recovery when it reports third quarter results on Monday as frothy markets drive a rally in the value of its tech investment portfolio and offer fertile ground for listings. The Japanese conglomerate is seen posting a net profit of 171 billion yen ($1.63 billion) in the October-December […]