Author: Fernanda T
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Schwab and Snowflake Retreat in Premarket, WeRide Postpones IPO, Halliburton Cyberattack, McDonald’s Instagram Hack
Toronto Dominion Bank (NYSE:TD), Charles Schwab (NYSE:SCHW) – Canada’s TD Bank Group has set aside an additional $2.6 billion to cover penalties from U.S. regulatory investigations into deficiencies in its anti-money laundering (AML) program. To offset this cost, it will sell part of its stake in Charles Schwab, reducing its ownership from 12.3% to 10.1%.…
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Dramatic NFT Value Decline, Bitfarms Acquires Stronghold, $55M Phishing Attack Loss, and More in Crypto
The dramatic decline of NFTs The NFT market, which peaked at $526 billion in May 2022, has shrunk to $18 billion, a 97% drop. NFTs dominated the market between 2021 and 2022, with collections like CryptoPunks and Bored Apes coveted by celebrities and investors. For example, CryptoPunk #5822, sold for $23.7 million in 2022, has…
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U.S. Futures Steady Ahead of Fed Minutes, Oil Prices Stabilize
U.S. index futures were little changed in pre-market trading on Wednesday, with attention on the minutes from the Federal Reserve’s latest meeting and earnings reports. Investors are eagerly awaiting statements from Fed Chair Jerome Powell, who will speak at the Jackson Hole Economic Symposium on Friday. At 5:29 AM ET, Dow Jones futures (DOWI:DJI) rose…
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ZTO Express Sees 10.1% Revenue Growth, Keysight Technologies Stock Rises 10%, and Latest in Earnings
ZTO Express (NYSE:ZTO) – The Chinese express delivery company reported second-quarter revenue of $1.48 billion in Q2 2024, an increase of 10.1%. Adjusted net income rose 10.9% to $386.1 million. Parcel volume grew 10.1%, but market share fell 2% to 19.6%. The company reaffirmed its forecast of 15%-18% growth in parcel volume for 2024. Shares…
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Walmart Sells JD.com Stake, Microchip Suffers Cyberattack, Union Pacific Warns of Strike in Canada, and Latest News
Walmart (NYSE:WMT), JD.com (NASDAQ:JD) – Walmart intends to raise up to $3.74 billion by selling its 5.19% stake in the Chinese e-commerce company JD.com. They are offering 144.5 million shares between $24.85 and $25.85 each, with Morgan Stanley as the broker. The sale aims to focus resources on the company’s operations in China and other…
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Bitcoin and Ethereum ETFs See Low Volume, FLOKI Gains 8%, State Street Launches Digital Asset Platform
Bitcoin ETFs in the US See $62 Million in Net Inflows Despite Low Trading Volume On August 19, 2024, Bitcoin ETFs in the US recorded $61.98 million in net inflows, while total trading volume dropped to $779.87 million, the lowest since February. The decline in volume, significantly below August’s $5.24 billion, is attributed to weak…
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U.S. Index Futures Hold Steady, Oil Prices Drop
U.S. index futures showed moderate changes in pre-market trading on Tuesday after the S&P 500 and Nasdaq Composite achieved their longest winning streaks in 2024. Market volatility has decreased, and investors are awaiting the Jackson Hole Economic Symposium for potential hints about future interest rate cuts. At 5:00 AM ET, Dow Jones futures (DOWI:DJI) were…
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Palo Alto Beats Expectations, ECD Shares Rise 12% on Record Revenue, and Latest in Earnings
Palo Alto Networks (NASDAQ:PANW) – The cybersecurity and firewall solutions company had a strong quarter, with net income of $358 million, or $1.01 per share, and adjusted earnings of $1.51, above the forecast of $1.41. Revenue rose to $2.19 billion, exceeding the estimate of $2.16 billion. For the next quarter, the company projects revenue between…
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Berkshire Reduces Stake in BofA, Hawaiian Airlines Soars 10%, Paramount Receives $4.3B Offer, and More
Berkshire Hathaway (NYSE:BRK.B), Bank of America (NYSE:BAC) – Berkshire Hathaway sold a total of 14 million shares of Bank of America in recent days, reducing its stake to 12%. The sale, which raised about $550 million, was made last Thursday, Friday, and Monday, at an average price of $39.50 per share. Berkshire now owns 928…
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COO of Ava Labs’ X Account Hacked; Babylon to Launch Bitcoin Staking; Tether Expands USDT to Aptos, and More
HashKey Group Becomes First Web3 Partner for Telegram Mini App Catizen HashKey Group has formed a partnership with the Telegram Mini App Catizen, becoming the platform’s first Web3 partner. The collaboration will allow HashKey Global to offer regulated digital asset services to Catizen users, focusing on the TON blockchain infrastructure. Ben El-Baz from HashKey highlighted…