In this photo illustration the Penn Entertainment logo seen displayed on a smartphone mobile screen. Raphael Henrique | SOPA Images | Light flare | Getty Images Penn Entertainment Thursday became the first US gambling company to post a profit in its sports betting business in the last three months of a year. Usually, it is … Read more
The Commission challenged Meta’s pairing of Facebook Marketplace with its personal social network. Budrul Chukrut | SOPA Pictures | Light flare | Getty Images Find out which companies are making headlines in the midday business. Meta – Shares of the tech giant jumped 25% midway through the trading day, on track for its strongest day … Read more
New England Patriots’ Tom Brady #12 celebrates with team owner Robert Kraft after defeating the Seattle Seahawks 28-24 in Super Bowl XLIX at University of Phoenix Stadium on February 1, 2015 in Glendale , Arizona. Tom Pennington | Getty Images New England Patriots owner Robert Kraft wants Tom Brady to re-sign with the team for … Read more
The logo of Coinbase Global Inc, the largest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others in Times Square in New York, U.S., April 14, 2021. Shannon Stapleton | Reuters Coinbase Shares jumped after a federal judge in Manhattan dismissed a class action lawsuit against the cryptocurrency exchange on Wednesday in … Read more
Here are Thursday’s most important calls on Wall Street: JMP downgrades Peloton to market performance from outperformance JMP downgraded the stock primarily on valuation. “We are downgrading our rating on Peloton shares from Market Outperform to Market Perform as Peloton hit our previous price target of $16 while we leave our estimates for fiscal 2024 … Read more
Christine Lagarde, President of the European Central Bank speaks at an event. Bloomberg | Bloomberg | Getty Images The European Central Bank on Thursday confirmed expectations of an interest rate hike of 50 basis points, taking its key rate to 2.5%. In a statement, he pledged to “stay the course by raising interest rates significantly … Read more
Ahead of major tech earnings, Meta results set to illuminate Nasdaq Composite COMP for Thursday. The S&P 500 SPX also points to gains as investors take a half-full view of the Fed meeting. LaDucTrading.com founder Samantha LaDuc worries investors are in the clutches of another Fed misreading. “The market is not expecting a higher terminal … Read more
A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany September 30, 2016. Kai Pfaffenbach | Reuters German Bank Thursday reported its 10th consecutive quarter of earnings, supported by higher interest rates and favorable market conditions. Deutsche Bank announced net profit attributable to shareholders of 1.8 billion euros ($1.98 billion) … Read more
Shell said last month that windfall taxes imposed by the European Union and the United Kingdom following the profit hike would cost the group around $2 billion. Paul Ellis | AFP | Getty Images British oil giant Shell posted its highest-ever annual profit on Thursday, buoyed by soaring fossil fuel prices and robust demand since … Read more
US President Joe Biden and European Commission President Ursula von der Leyen. Bloomberg | Bloomberg | Getty Images The European Union is working against time to create a program that can compete with President Joe Biden’s unprecedented climate subsidies. But he will face two key problems in the process. The EU had long asked the … Read more