Howard Lutnick, chairman and CEO of BGC Partners Inc., speaks during the Piper Sandler Global Exchange and FinTech Conference in New York City, U.S., June 8, 2022. Brendan McDermid | ReutersWASHINGTON — The Securities and Exchange Commission charged global financial services firm Cantor Fitzgerald with violating laws related to disclosures by so-called blank-check companies before they raised money from the public.Cantor Fitzgerald’s chairman and CEO, Howard Lutnick, was recently nominated by President-elect Donald Trump to lead the Commerce Department. Lutnick is co-chair of Trump’s transition team.The SEC said that Cantor agreed to settle the case by saying the firm would not…
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Congratulations, North Carolina. You managed to hire someone completely unqualified to be your next football coach. You did that thing so many schools do where they try to win the press conference instead of win football games. It rarely works.GO DEEPERBill Belichick agrees to deal to become UNC football head coachI realize I may get excommunicated from the football world for daring to question the merits of a six-time Super Bowl champion coach. But let’s remove the name Bill Belichick and replace it with Coach X. Here is who North Carolina just hired:• Coach X has never coached a day…
A pick-up in consumer demand, improving economic growth and attractive stock market valuations have contributed to the popularity of emerging markets (EM) this year. HSBC is sticking to its “cautiously constructive” stance on them in 2025, as U.S. President-elect Donald Trump prepares to return to office in January. “There is no sugar coating that tariffs and a strong USD are downside risks,” the investment bank’s analysts wrote in a Dec. 2 research note. They observe that the balance of risk and reward for EM equities is “better than widely perceived,” given their “relatively favorable” growth dynamics compared to those of…
Flushing Bank in New York City.Google EarthFlushing Financial, a New York-based commercial real estate lender, is seeking to raise $70 million to shore up its capital, CNBC has learned.The bank’s CEO, John Buran, has told potential investors that he intends to sell low-yielding bonds and loans backed by commercial real estate, including multifamily buildings, moves that would generate a loss and necessitate the sale of fresh stock, people with knowledge of the deal told CNBC.Bankers working on the deal have yet to finalize pricing, but it will likely be between $15 to $15.50 per share, according to one of the…
The last major IPO of the year has priced on an up note , and IPO investors are hopeful it will mark the end of three painful years of sub-par IPO raises. ServiceTitan (TTAN), which provides business management software for plumbers, roofers, landscapers and others in the trades industry, will begin trading today on Nasdaq. It is pricing 8.8 million shares at $71, well above the price range of $65 to $67, itself a significant hike from earlier price talk of 8.8 million shares at $52 to $57. “A window is opening” in the IPO market, Greg Martin, head of…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFast MoneySteven Wieting, Citi Wealth chief investment strategist and chief economist, joins ‘Fast Money’ to talk Citi’s market outlook for 2025.04:0523 minutes ago Source link
Traders work on the floor of the New York Stock Exchange. NYSEDow futures were little changed in overnight trading Thursday following a losing session on Wall Street.Futures tied to the Dow Jones Industrial Average edged down 0.1%. S&P 500 futures and Nasdaq-100 futures added 0.05% and 0.4%, respectively.Broadcom gained 13% after issuing stronger-than-expected guidance on its fiscal first quarter revenue and reporting that artificial intelligence revenue soared 220% for the year. Shares of home furnishing company RH popped 17% on strong revenue growth guidance.The overnight moves come on the heels of a losing session on Wall Street. The 30-stock Dow dropped…
MIAMI GARDENS, Fla. — During quiet moments on the sideline, Calais Campbell can still hear his father’s voice.Truth is, it never left him. The words were stored away, hardened into his psyche. Charles Campbell saw his son’s path before his son ever could. Twenty years later, the lessons have lasted.Like the time Calais — long, lean and consumed by football from the minute he first slipped on a helmet — bragged about two first-quarter sacks on the way home from a high school game. He felt on top of the world. Wait until his older brothers heard …“What’d you do…
While stocks fell slightly on Thursday, investors are mostly ignoring recent reports showing inflation is still a very real problem. But Bank of America thinks they may be forced to in the new year as inflation gets even worse. “The potential policy changes on the horizon — higher tariffs, deficit-financed tax cuts, and tighter immigration policy — could all put upward pressure on prices. Indeed, as a result of these policy changes, we forecast little decline in core PCE inflation over the next two years,” wrote economist Stephen Juneau in a Thursday note to clients. Data from the last two…
A Costco Wholesale store in Connecticut.Lindsey Nicholsonp | Getty ImagesCostco on Thursday beat Wall Street’s quarterly earnings and sales estimates, as it got a boost in part from higher membership fees.Here is how the warehouse club did for the fiscal first quarter compared to what Wall Street expected, according to a survey of analysts by LSEG:Earnings per share: $4.04 vs. $3.79 expectedRevenue: $62.15 billion vs. $62.08 billion expectedIn the three-month period that ended Nov. 24, Costco’s net income rose to $1.80 billion, or $4.04 per share, from $1.59 billion, or $3.58 per share in the year-ago period. Revenue increased from…
