Steve Huffman, co-founder and CEO of Reddit, speaks during WSJ Tech Live conference hosted by the Wall Street Journal at the Montage Laguna Beach in Laguna Beach, California, on October 21, 2024. Frederic J. Brown | Afp | Getty ImagesReddit shares dropped more than 6% Thursday after the social media company fell short of Wall Street’s user estimates in the fourth quarter.The company reported a 39% rise in global daily active uniques from a year ago to 101.7 million, below the Wall Street estimate of 103.1 million.In a letter to shareholders, CEO Steve Huffman said that Reddit experienced some “volatility” in…
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President Volodymyr Zelensky of Ukraine was already facing a daunting week as foreign officials gathered in Europe for talks about his country’s future.The Trump administration was demanding $500 billion in Ukrainian mineral rights, it canceled Ukraine’s exemption from U.S. tariffs on steel, and a leading American skeptic of military assistance for Kyiv, Vice President JD Vance, was on his way to Europe for a meeting with the Ukrainian leader.But on Wednesday, things went from bad to worse. Mr. Trump’s defense secretary delivered a harsh assessment of Ukraine’s prospects in its war with Russia. Then Mr. Trump announced that he had…
A gauge of wholesale prices rose more than expected in January, though some details of the report indicated that pipeline inflation pressures are easing.The producer price index, which measures what producers get for their goods and services, increased by a seasonally adjusted 0.4% on the month, compared to the Dow Jones estimate for 0.3%, the Bureau of Labor Statistics reported Thursday.Excluding food and energy, core PPI was up 0.3%, in line with the forecast.Stock market futures moved higher following the release while Treasury yields were sharply lower, despite the higher-than-expected headline number. Wall Street strategists cited details of the report…
U.S. President Donald Trump reads about tariffs on steel and aluminum, as Howard Lutnick stands in the background, in the Oval Office of the White House in Washington, U.S., Feb. 10, 2025. Kevin Lamarque | ReutersPresident Donald Trump set an Oval Office news conference on his plan to impose reciprocal tariffs on other countries for Thursday at 1 p.m. ET.Trump’s all-caps post on Truth Social announcing the presser offered no details about the plan, which remains opaque.In another post earlier Thursday, Trump hyped up the forthcoming tariffs, writing, “TODAY IS THE BIG ONE: RECIPROCAL TARIFFS!!!”Read more CNBC politics coverageThis is developing…
Chainalysis said that crypto wallets linked to scams received $9.9 billion in cryptocurrency in 2024, according to its initial estimatesBoonchai Wedmakawand | Moment | Getty ImagesCrypto fraud revenue is estimated to have hit record levels last year amid a surge in so-called romance scams as cybercriminals leverage artificial intelligence and become more organized, blockchain research firm Chainalysis warns.In a report released Thursday, the firm said that crypto wallets linked to scams received $9.9 billion in cryptocurrency in 2024, according to its initial estimates. It predicts 2024’s figure to grow to a record of $12.4 billion as Chainalysis identifies more scam…
Members of the emergency services work at the scene where a car drove into a crowd in the southern German city of Munich on February 13, 2025 leaving several people injured, police said.Michaela Stache | Afp | Getty ImagesMUNICH— German police said Thursday that at least 28 people were injured when a car plowed into a crowd in the city of Munich in what officials called a “suspected attack.”The incident came the day before a major security conference attended by world leaders was set to begin. Vice President JD Vance is among those due to address the conference.The United States Secret Service told…
Check out the companies making headlines before the bell. Robinhood — The digital trading platform rallied 13% after reporting stronger-than-expected revenue for the fourth quarter. Robinhood posted $1.01 billion in the period, coming above the LSEG consensus estimate of $944.6 million. MGM Resorts — The resorts and casinos stock jumped nearly 10%. The company posted $4.35 billion in revenue for the fourth quarter Analysts polled by LSEG expected a top line of $4.27 billion. Reddit — Shares tumbled 8% after Reddit’s user numbers in the fourth quarter fell below analysts’ forecasts. Daily active unique visitors averaged 101.7 million, which marked…
Elon Musk will withdraw his $97.4 billion bid for OpenAI’s non-profit arm if the ChatGPT maker stops its conversion into a for-profit entity, according to a court filing.”If OpenAI, Inc.’s Board is prepared to preserve the charity’s mission and stipulate to take the ‘for sale’ sign off its assets by halting its conversion, Musk will withdraw the bid,” read the filing, which was submitted Wednesday to the U.S. District Court for the Northern District of California.”Otherwise, the charity must be compensated by what an arms-length buyer will pay for its assets,” it added.On Monday, Musk, along with his artificial intelligence…
President Volodymyr Zelensky of Ukraine was already facing a daunting week as foreign officials gathered in Europe for talks about his country’s future. The Trump administration was demanding $500 billion in Ukrainian mineral rights, it canceled Ukraine’s exemption from U.S. tariffs on steel, and a leading American skeptic of military assistance for Kyiv, Vice President JD Vance, was on his way to Europe for a meeting with the Ukrainian leader.But on Wednesday, things went from bad to worse. Mr. Trump’s defense secretary delivered a harsh assessment of Ukraine’s prospects in its war with Russia. Then Mr. Trump announced that he…
GE Vernova is more than ready to meet the rising demand for energy, according to Baird. The firm initiated coverage of the energy services and equipment company with an outperform rating and a $448 per share price target. Baird’s forecast implies more than 21% upside from Wednesday’s close. Analyst Ben Kallo said GE Vernova is an essential player to meet rising demand for energy and energy infrastructure, both of which will help margins expand. “The rising demand for energy generation solutions gives the company pricing power for out years which we believe will translate to margin expansion and may provide…
