Investors are learning that paying 20X sales is nothing if the growth numbers are right.
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Municipals were little changed to stronger on the short end as U.S. Treasuries saw losses mount and equities closed out the session in the red. Triple-A yields were mixed to firmer on the short end, depending on the yield curve, while UST ended with the largest losses in the belly of the curve. Municipal to
In a brutal year for technology investors, Twitter has made for an unusual bright spot. On Tuesday, the mercurial Elon Musk delivered his latest surprise. He sent a letter to the social media company declaring his newfound interest in closing a transaction to buy the company at the contractually agreed-upon price of $54.20 per share.
Daniel Acker | Bloomberg | Getty Images Home prices are softening in most markets across the nation. Yet home prices are still higher compared with a year ago, and it’s unlikely they will fall too steeply. The sharp rise in mortgage rates over the past several months has made housing more expensive for anyone needing
Prime minister Liz Truss has told the party faithful that she will lead Britain through “stormy days” during the economic “tempest” caused by the Covid-19 crisis and Russia’s invasion of Ukraine. The prime minister, in power for a month, sought to rally Conservative MPs behind her faltering leadership, at a party conference that has descended
Municipal yields fell Tuesday by as much as 10 basis points out long while U.S. Treasuries were little changed and equities rallied. Triple-A yields fell four to 10 basis points across the curve amid robust secondary trading with high-grade names showing clear moves to lower yields. New York City priced $1.35 billion of exempt and
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In this article F GM TSLA DAL AAL RIVN GILD TWTR Follow your favorite stocksCREATE FREE ACCOUNT Poshmark Inc. signage outside the Nasdaq MarketSite during the company’s initial public offering (IPO) in New York, U.S., on Thursday, Jan. 14, 2021. Michael Nagle | Bloomberg | Getty Images Check out the companies making headlines in midday
The fate of a planned 16-million-square-foot Georgia factory for electric vehicle manufacturer Rivian is in question after a judge denied validation of $15 billion in PILOT bonds planned to back its construction. The Georgia Economic Development Commission, along with the Joint Development Authority for Jasper, Morgan, Newton, and Walton counties and Rivian, negotiated an agreement
The Bitcoin hash rate hit a new all-time high above 245 exahashes per second on Oct. 3, but at the same time, Bitcoin (BTC) miner profitability is near the lowest levels on record. With prices in the low $20,000 range and the estimated network-wide cost of production at $12,140, Glassnode analysis suggests “that miners are
The Federal Reserve’s aggressive rate hike path – an attempt to tamp down the highest inflation in decades – is set to cause damage to the global economy if the central bank keeps going, according to billionaire Barry Sternlicht. “They are going to cause unbelievable calamities if they keep up their action, and not just
In another reality, Bill Noble would be just another guy in a suit behind a big desk at the Fed or the SEC, probably murmuring negative incantations like “crypto is bad.” He’s certainly got the track record for it: JP Morgan, UBS, Morgan Stanley, Goldman Sachs. But that’s Noble in an evil mirror dimension. In
Pixelseffect | E+ | Getty Images Offices are busier now than they’ve been at any point since Covid first sent employees home in March 2020. But companies are still in the thick of adapting to a more distributed workforce, creating an opportunity for workplace technology companies like Condeco and iOffice + SpaceIQ. The two companies
Bitcoin (BTC) saw its first trip above $20,000 on Oct. 4 as traders expected familiar resistance to cap gains. Multi-week dollar lows fuel Bitcoin bulls Data from Cointelegraph Markets Pro and TradingView showed BTC/United States dollar climbing prior to the Wall Street open, up over 5% in 24 hours. The pair had shaken off macroeconomic
Minor inflows for digital asset investment products over the last few weeks suggest a “continued hesitancy” toward crypto among institutional investors amid a slowdown in the United States economy. In the latest edition of CoinShares’ weekly “Digital Asset Fund Flows” report, CoinShares head of research James Butterfill highlighted stand-offish institutional sentiment toward crypto investment products,
Credit Suisse has spent the past few days battling social media rumours about the strength of its balance sheet and trying to convince investors and clients that its plummeting share price and spiking credit default swaps are not telling the true story of the bank’s health. At the centre of the storm is a simple
Your browser does not support playing this file but you can still download the MP3 file to play locally. The UK government reversed course on a tax cut, Brazil’s president Jair Bolsonaro defied expectations in the first round of election voting, and Credit Suisse is trying to reassure investors that rumours about its financial health
Public records show that Shopify’s CEO Tobias Lütke has purchased close to $3 million in Coinbase shares during the last 60 days. Lütke became a Coinbase board member last February and because he is a Coinbase associate, he’s required by law to submit his trades to the U.S. Securities and Exchange Commission (SEC). Since August
PwC is seeking to poach staff from its Big Four rival EY and capitalise on “disruption” and “uncertainty” caused by the latter’s decision to split its accounting and consultancy arms. Bob Moritz, PwC’s global chair, told the Financial Times he was expecting to lure senior managers and even some partners as the firm pursues a