“Buy-now, pay-later” firm Klarna aims to return to profit by summer 2023.Jakub Porzycki | NurPhoto | Getty ImagesKlarna said it posted a profit in the first half of the year, swinging into the black from a loss last year as the buy now, pay later pioneer edges closer toward its hotly anticipated stock market debut.In results published Tuesday, Klarna said that it made an adjusted operating profit of 673 million Swedish krona ($66.1 million) in the six months through June 2024, up from a loss of 456 million krona in the same period a year ago. Revenue, meanwhile, grew 27%…
Author: usaeverydaylife
Wall Street takes back-to-back weekly gains and an overbought market into an important week featuring Nvidia earnings and the latest reading on the Federal Reserve’s favorite inflation gauge. Fed Chairman Jerome Powell on Friday gave the speech from Jackson Hole that investors wanted to hear. The S & P 500 and Nasdaq bounced back from Thursday’s losses, and each finished the week up nearly 1.5%. Powell indicated interest rate cuts are on the way, saying the “time has come for policy to adjust.” The market now expects 100 basis points, or 1 percentage point, of cuts by the end of…
A disappointing Nvidia earnings report could spell trouble for certain stocks closely connected to the market behemoth. All eyes are on the chip giant as it readies to report earnings after the bell Wednesday. Nvidia is widely expected to top estimates, with Wall Street laser-focused on its guidance and Blackwell commentary as concerns mount over artificial intelligence spending and potential production delays. To find the names with the most riding on the print, CNBC Pro screened for the stocks with the highest correlation to Nvidia’s trading over a 20-week period. Whenever a correlation coefficient moves closer to 1, it means…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFast MoneyFrancisco Blanch, Commodity & Derivative strategist at BofA Europe, joins ‘Fast Money’ to talk the oil trade.04:09Mon, Aug 19 20246:00 PM EDT Source link
People exit the Supreme Court building in Washington, D.C. on Tuesday, June 27, 2023.Minh Connors | The Washington Post | Getty ImagesThe Supreme Court is set to hear oral arguments Tuesday on a case that could affect broad swaths of the U.S. tax code and federal revenue.The closely watched case, Moore v. United States, involves a Washington couple, Charles and Kathleen Moore. They own a controlling interest in a profitable foreign company affected by a tax enacted via former President Donald Trump’s 2017 tax overhaul.The Moores are fighting a levy on company earnings that weren’t distributed to them — which…
Republican Presidential nominee, former president Donald J. Trump remarks during a campaign event at Precision Custom Components on August 19, 2024 in York, Pennsylvania. Tierney L. Cross | Getty ImagesA New York federal judge has ordered U.S. probation officials to investigate the recent arrest of a convicted drug dealer who was released from prison in early 2021 when his 10-year sentence was commuted by former President Donald Trump.The order raises the possibility that the drug dealer, Jonathan Braun, could be sent back to prison for his federal marijuana-related conviction because of his arrest last week in Nassau County, New York, for…
A logo stands on display above the headquarters of Deutsche Bank AG at the Aurora Business Park in Moscow, Russia.Andrey Rudakov | Bloomberg | Getty ImagesDeutsche Bank has reached settlements with nearly 60% of plaintiffs in a long-running case alleging the German lender underpaid for its acquisition of Postbank more than a decade ago.In a Wednesday statement, Deutsche Bank said it had reached agreements with more than 80 plaintiffs for a settlement of 31 euros ($34.53) per share, as proposed by the bank. This will allow Germany’s largest lender to release the funds and boost Deutsche Bank’s anticipated third-quarter pretax…
Monaco’s connection to car racing and boating is stamped all over it, from the hairpin turns of its Formula One circuit to the five-deck superyachts docked at Port Hercule.But its desires to be known as a sustainability destination are less apparent.Monaco’s “Green is the New Glam” campaign, launched in 2018, highlighted many of the country’s environmental efforts. And a 2023 tourism campaign named sustainability as one of three key pillars — alongside “Instagrammability” and digital nomad appeal — for attracting new travelers.Its green goals are at odds with its greenhouse-gas-emitting superyachts and beloved Formula One races. The latter’s carbon footprint…
Check out the companies making headlines in midday trading: Paramount Global — The media conglomerate’s stock dropped 7.2% after Edgar Bronfman Jr. abandoned his pursuit of a takeover, clearing the way for Skydance to follow through on its roughly $8 billion acquisition deal reached in July. The Skydance deal, expected to close in the first half of 2025, included a “go shop” window that allowed Paramount to seek other buyers. Hain Celestial Group — Shares surged 18.9% after the food company behind Terra chips and Garden Veggie Straws posted fiscal fourth-quarter earnings that beat expectations. Hain Celestial Group posted adjusted…
On Aug. 5, we awoke to a market upside-down. Japanese stocks, so strong this year, had crashed, literally crashed, down 12%, a hideous decline, worst since 1987. Oddly, there was nothing wrong. The yen had strengthened, forcing investors who had borrowed yen to buy our stocks and others around the world to put up more capital. The margin calls of the traders who had borrowed the yen reverberated around the world. It’s hard to recall what the market looked like three weeks ago, but it is important to recognize several things: (1) The European markets led us down, we lost…
