Tag: Stock

Warren Buffett’s ‘crypto stock’ beats Apple and Amazon — but not Bitcoin

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Warren Buffett may still view cryptocurrencies and Bitcoin (BTC) as “rat poison squared,” but he is generating big profits from his position in a crypto-friendly bank in 2023. Warren Buffett’s “crypto bet” up $130 million in 2023 The “Oracle of Omaha” purchased 107 million shares of Nu Holdings, a Brazil-based fintech company and owner of the crypto-friendly Nubank, via his firm, Berkshire Hathaway, in two separate rounds in 2021. Berkshire invested $500 million in Nu Holdings in June 2021 and raised its stake by another $250 million in December 2021.…

Tesla (TSLA) Stock Down 5% amid Panasonic Cutting Battery Production

As a result of all the challenges faced by Tesla, its long-time partner Panasonic is also bearing losses. It has lowered its full-year operating profit forecast for its battery unit to ¥115 billion ($771 million) from ¥135 billion, as the demand for Tesla EVs in North America slowed down. Shares of Tesla Inc (NASDAQ: TSLA) have dropped by 4.79% on Monday following the news about its major battery supplier Panasonic Holdings Corp (TSE: 6752.T) slashing its domestic electric battery production by as much as 60%. The Japanese electronics giant explained the…

Intel Reports Q3 2023 Financial Results, INTC Stock Soars In After-Hours Trade

Following the Q3 2023 report, Intel stock rose by more than 7% in after-hours trade, after closing the session at $32.52 per share. As of the press moment, Intel stock is trading at $35.15. Its market cap has hit $137.49 billion. Year-to-date, Intel shares are 23.04% up. The world’s largest manufacturer of central processing units and semiconductors Intel Corporation (NASDAQ: INTC) has released its Q3 2023 report. The company has managed to beat analysts’ forecast for profit and sales, which led to its stock price rising following the announcement. Intel in Q3…

Amazon Reports Better-than-Expected Q3 2023 Results, AMZN Stock Jumps 5%

For the fourth quarter that involves the key holiday season, Amazon has given its sales forecast to be between $160 billion and $167 billion. On Thursday, October 26, Amazon.com Inc (NASDAQ: AMZN) reported better-than-expected numbers for the third quarter. Amazon’s revenue for Q3 2023 jumped by 13%, a welcome development after a difficult 2022. As a result, the AMZN stock price surged by more than 5% during the extended trading hours. Amazon Performance in Q3 2023 The company’s earnings per share reached 94 cents, surpassing the anticipated 58 cents as…

IBM Beats Estimates for Its Q3 2023 Revenue, Stock Jumps 1%

IBM’s Software unit delivered $6.27 billion in revenue registering an 8% surge in Q3 2023. The company has given an optimistic outlook for Q4 as well. On Wednesday, October 25, IBM Corp (NYSE: IBM) stock jumped by 1% as the technology firm announced its Q3 2023 results beating Wall Street estimates. IBM’s total revenue experienced a year-over-year growth of 4.6% in the quarter, or 3.5% when adjusted for constant currency fluctuations, as reported in an official statement. The net income for the period reached $1.70 billion, equivalent to $1.84 per…

Visa (V) Stock Rises as Q4 2023 Earnings Results Exceed Analyst Expectations

Visa stock is up by about 23% over the past 12 months and only slightly down from July 2021’s all-time high of $252.67. Visa Inc (NYSE: V) stock rose 1.35% in Tuesday’s regular session following the release of the company’s earnings results for its fiscal Q4 2023 on Tuesday. The shares rose to $234.65, trading between the 50-day and 200-day lines. The payments giant’s earnings results late Tuesday exceeded analyst predictions for the quarter as transaction volume increased due to an increase in consumer spending as inflation cools. Visa’s net…

Nikola (NKLA) Stock Gains Neary 9% after Founder Trevor Milton Was Ordered to Repay $165M

Nikola is expected to report its third-quarter earnings result on November 2, amid a push by the management to make the company profitable. Nikola Corp (NASDAQ: NKLA), an American-based manufacturer of heavy-duty electric vehicles, is now prepared to face a brighter future after a New York arbitration panel ordered former Chief Executive Officer (CEO) and founder Trevor Milton to repay the company $165 million plus interest. Notably, Nikola had been for months seeking reimbursement from Milton for the cost and damages caused during his tenure.  Moreover, Nikola Corporation agreed to…

World Bank Issues First Digitally Native Note on Luxembourg Stock Exchange

The basis for this issuance was Corda, R3’s digital ledger technology (DLT) platform that offers a sustainable infrastructure for digitally native notes. In a first, the World Bank has listed the “first digital native security” or “digital native note (DNN)” on the Luxembourg Stock Exchange (LuxSe). The €100 million DNN, listed on the Luxembourg Stock Exchange, is a key element of a more extensive endeavor to create a sustainable digital infrastructure for DNN issuance. The issuance happened through the involvement of Citi’s Issuer Services in the role of the issuing…

BC Technology Refutes $128M Crypto Exchange Sale Rumors Amid Stock Market Turbulence

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In response to recent claims made by Bloomberg, BC Technology, the parent company of OSL, has vehemently denied reports of a pending $128 million sale of its cryptocurrency exchange. The company filed an official statement with the Hong Kong Stock Exchange, asserting that Bloomberg’s report is “factually inaccurate and highly misleading.” Initially, Bloomberg had reported that OSL was being offered for sale with a valuation of 1 billion Hong Kong dollars ($128 million). BC Technology, however, has dismissed these assertions, emphasizing the misinformation surrounding the alleged transaction. BC Technology, along…

Stock Futures Go Lower as Q3 Earnings Season Gains Steam

The US stock futures were slightly down early this morning as the third-quarter earnings season gained momentum. According to reports, futures tied to the Dow Jones Industrial Average (INDEXDJX: .DJI) lost 46 points, or 0.13%, S&P 500 Index (INDEXSP: .INX) fell 0.13%, and Nasdaq 100 futures were also down 0.12%. US Stock Futures: Monday’s Optimistic Performance During Monday’s primary trading session, the major stock averages managed to close in the green, defying expectations as Treasury yields climbed higher. Typically, rising Treasury yields put downward pressure on equities, but in this…