The 10-year U.S. Treasury yield topped the 1.49% level on Thursday morning, its highest level in more than a year. The yield on the benchmark 10-year Treasury note climbed to 1.494%, its highest level since February 21, 2020. It was up about 10 basis points on the session. A basis […]
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Robinhood offers blistering retort to ‘elitist’ criticisms from Munger
Pavlo Gonchar | LightRocket | Getty Images Robinhood fired back at Berkshire Hathaway vice chairman Charlie Munger, who earlier this week said the free-trading app was having a “regrettable” impact on investors. The longtime business partner of Warren Buffett on Wednesday addressed the running controversy over Robinhood and similar applications, […]
Trump tax returns are now in the hands of the Manhattan district attorney
President Donald Trump speaks to reporters as he departs for travel to Minnesota from the South Lawn of the White House in Washington, U.S. October 10, 2019. Jonathan Ernst | Reuters Former President Donald Trump’s tax records have been turned over to Manhattan District Attorney Cyrus Vance Jr. following the […]
Weekly jobless claims drop sharply but labor market remains challenged
Jobless claims fell sharply last week despite severe winter storms that swept across Texas and other parts of the South, the Labor Department reported Thursday. First-time filings for unemployment insurance totaled 730,000 for the week ended Feb. 20, well below the Dow Jones estimate of 845,000. The total also represented […]
Twitter shares soar after company announces plan to double revenue by end of 2023
Jack Dorsey, chief executive officer of Twitter Inc. and Square Inc., speaks during an Empowering Entrepreneurs events at Ryerson University in Toronto, Ontario, Canada, on Tuesday, April 2, 2019. Cole Burston | Bloomberg | Getty Images Twitter said on Thursday it aims to have 315 million monetizable daily active users […]
Coinbase files for direct listing after revenue more than doubles in 2020
Coinbase co-founder and CEO Brian Armstrong speaking at TechCrunch Disrupt SF 2018. Steve Jennings | Getty Images for TechCrunch Cryptocurrency exchange Coinbase on Thursday filed to become a public company and revealed that its revenue more than doubled last year. According to the filing, Coinbase had net revenue of $1.14 […]
Best Buy earnings beat expectations, but shares fall as sales growth slows
Customers wait outside of a Best Buy store in downtown Toronto, Ontario on November 23, 2020 to pick up their online orders. Geoff Robbins | AFP | Getty Images Best Buy‘s fourth-quarter earnings outpaced Wall Street’s expectations Thursday, but fell short on revenue as its sales growth slowed compared with […]
Papa John’s earnings miss, weighed down by higher costs, but chain sees strong pizza demand
Signage outside a Papa John’s International pizza restaurant in Louisville, Kentucky, on Monday, Feb. 22, 2021. Luke Sharrett | Bloomberg | Getty Images Papa John’s quarterly earnings missed estimates as higher food costs, a new corporate office and employee bonuses weighed on profits, even as demand for its pizza remains high. The […]
Robinhood is still on track for a hot IPO despite the GameStop controversy
Avishek Das | LightRocket | Getty Images Robinhood is recovering from weeks of customer backlash, and a public grilling by Congress over the GameStop controversy. Despite that, the trading app’s user growth, brand recognition and valuation appear to be stronger than ever. Demand for Robinhood shares in private markets is […]
GameStop shares surge in premarket as Reddit favorites rally again
Jakub Porzycki/NurPhoto via Getty Images Shares of GameStop climbed 52.7% in premarket trade on Thursday as heavily-shorted stocks favored by Reddit traders look set for a resurgence. Investors piled into the bricks-and-mortar video game retailer on Wednesday following the reported ousting of Chief Financial Officer Jim Bell, sending the stock […]