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Wells Fargo lowers expected earnings hit from regulatory cap on assets
BOSTON (Reuters) - Wells Fargo & Co on Thursday said a cap on asset growth imposed by regulators after various sales practices scandals would hurt earnings less that it expected this year, and forecast 2019 expenses below Wall Street expectations......»»
Chinese EV Contender Xiaomi"s Budget "Tesla Killer" Zooms Past Sales Expectations By 3-5 Times
Company CEO Lei Jun revealed the unexpected sales figures during a live stream on Douyin, the Chinese equivalent of TikTok, Reuters reported. read more.....»»
Italy launched its long-awaited "digital nomad visa" — here"s who qualifies and how to apply
Italy's digital nomad visa went into effect last week, aimed at highly skilled remote workers. Requirements include earning about €28,000 a year. Working from home .....»»
Orcel lowers Santander claim to roughly EUR45M in job offer suit, Reuters says
See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»
Gordon Haskett downgrades ITT on valuation, high expectations
See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»
The UK economy grew 2.1% in March, beating expectations as the vaccine-driven recovery picked up speed
March's growth was considerably stronger than expected, and sets the stage for a rapid rebound for the UK economy in 2021. The UK economy is gradually reopening from coronavirus lockdowns. Phil Noble/Reuters The UK economy grew 2.1% in Ma.....»»
Highly valued startups did SPAC deals or completed IPOs after getting PPP loans
Within a year of getting loans under the Paycheck Protection Program, nearly four dozen companies, each with a valuation of at least $150 million, went public or made plans to do so......»»
HSBC beats expectations with 79% jump in Q1 pre-tax profit as cautious outlook prompts credit loss reversal
Europe's largest lender said profit-before-tax came in at $5.8 billion, beating the $3.4 billion expectation of analysts polled by the bank. REUTERS/ Bobby Yip HSBC posted a 79% jump in Q1 pre-tax profit that beat analyst expectati.....»»
Snap jumps as 1st-quarter revenue beats expectations and guidance surges
Global active daily users climbed by 51% during the first quarter. Snap's CEO Evan Spiegel. Getty Images for Snap, Inc. Sna.....»»
Earnings Results: Snap shares rise 6% on better-than-expected sales, earnings
The company reported a net loss of $286.9 million, or 19 cents a share, against expectations of a loss of 21 cents a share, according to analysts polled by FactSet. Snap’s revenue soared 66% to $770 million, beating estimates of $744 million......»»
An Uber shareholder is demanding more transparency about the impact of the company"s lobbying efforts
The Teamsters General Fund wants Uber investors to demand more info about what it called "highly innovative" but "controversial" grassroots lobbying. Anushree Fadnavis/Reuters The .....»»
8 expert predictions ahead of Coinbase"s hotly anticipated IPO next week
Insider compiled views from eight experts on what they see for the cryptocurrency exchange ahead of its eagerly-awaited public listing next week. Reuters Coinbase is set to go public via direct listing on Apri.....»»
Snap and Pinterest slide as Bank of America downgrades the social media companies on "positioning around reopening"
Snap and Pinterest fell after Bank of America downgraded the social media companies to neutral, citing valuation concerns as interest rates rise. Snapchat Snap and Pinterest lost ground Monday after Bank of America downgraded their rati.....»»
US stocks close mixed as investors await Fed guidance on interest rates
US indexes were mixed Tuesday as investors anxiously awaited comments from Fed chair Jerome Powell at the conclusion of the two-day meeting on Wednesday. Lucas Jackson/Reuters US sto.....»»
Roblox spikes 15% in public trading debut after $44 billion direct listing
Shares of Roblox jumped as much as 15% in a long-awaited public trading debut that left the online gaming company with a $44 billion valuation. The popular Roblox game, "Jailbreak." Roblox Image/JailBreak .....»»
Disney+ Subscriptions Are Growing Beyond Expectations, Thanks To Adults With No Kids At Home: CEO
Subscriptions for the Disney+ streaming service have grown beyond expectations thanks to surprisingly strong interest from adults who do not have kids at home, Reuters reported Monday, citing Walt Disney Co. (NYSE: read more.....»»
S&P 500, Nasdaq gain as tech earnings exceed investor expectations
Better than expected earnings from mega-cap titans Alphabet and Amazon helped boost stocks in Wednesday trades. Reuters / Brendan McDermid The S&P 500 and Nasdaq both gained on Wednesday as earnings from Alphabet and Amazon exceeded.....»»
Elon Musk says self-driving Tesla robotaxis can help justify the company"s $800 billion valuation
Tesla could double its revenues if it develops a network of autonomous robotaxis as planned, CEO Elon Musk said Wednesday. Tesla's CEO Elon Musk. Mike Blake/Reuters Tesla can double its revenues if it.....»»
These 10 highly-shorted stocks are soaring as Reddit traders wage war against top Wall Street hedge funds
A herd mentality led by Reddit's 3 million-member WallStreetBets forum sparked an epic rally in the most shorted stocks in the market. Reuters / Lucas Jackson The WallStreetBets forum on Reddit - now 3 million members stron.....»»
GameStop skyrockets 55% as Reddit-fueled rally enters 3rd week
Day-traders and Reddit users have urged each other to keep buying shares despite GameStop's elevated valuation. Carlo Allegri/Reuters GameStop soared as much as 55% on Monday as reta.....»»