ADVFN US – Market Content Editor
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Crypto this Tuesday: Visa Has Ambitious Crypto Projects, Google Launches Accelerator for Blockchain Companies, and More
Coinbase sues SEC after months of silence from federal regulator Cryptocurrency exchange Coinbase (NASDAQ:COIN) filed a lawsuit against the Securities and Exchange Commission on Monday, asking that the regulator be forced to publicly share its response to a months-old petition about whether to allow the cryptocurrency industry to be regulated using existing SEC structures. “Coinbase does not treat…
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Troubling First Republic Results May Weigh On Wall Street
US Market The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks likely to move to the downside after ending the previous session narrowly mixed. Negative sentiment may be generated in reaction to quarterly results from First Republic (FRC), with the regional bank plunging by 21.4 percent in pre-market…
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Tuesday’s Wall Street Highlights: First Republic, UPS, McDonald’s, GM and more
Main subjects of the day US stock futures fell on Tuesday as traders await the week’s earnings from major tech companies as well as new economic data, and watch for bad news from regional banks. By 8:20 AM, Dow Jones futures (DOWI:DJI) were down 68 points, or 0.20%. S&P 500 futures (SPI:SP500) and Nasdaq-100 futures (NASDAQI:COMP) were down 0.37% and 0.33%,…
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European Midday Briefing: Fresh U.S. Bank Stock Worries Add to Cautious Mood
Market Wraps Stocks: European stocks continued their start-of-week retreat, as investors looked ahead at some big-tech earnings on Wall Street and as fresh worries in U.S. regional banking stocks weighed on the overall mood. Banking shares were weaker after embattled U.S. lender First Republic Bank reported a slump in deposits, while miners dropped on lower…
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UBS Profits Slump 52% in Q1 Amid Legacy Litigation
Switzerland’s largest bank, UBS Group AG, said Tuesday that its first-quarter earnings fell 52 per cent due to increased legal provisions over mortgage-backed securities (MBS) litigation issues. The result came at a turbulent time for the Swiss bank after it was forced to acquire former rival Credit Suisse. Net income attributable to shareholders came in…
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Coinbase Filed Petition To SEC To Create Rules For Digital Assets
Coinbase Global, the largest U.S. cryptocurrency exchange, filed a petition on Monday to force the U.S. Securities and Exchange Commission (SEC) to create new rules for digital assets, it said in a blog post. This is the latest move in escalating tensions between securities regulators and cryptocurrency exchanges. Coinbase (NASDAQ:COIN) filed a rulemaking petition with…
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First Republic Stock Plunges As Deposits Plummet In Q1
Shares fell 20% in after-hours trading after First Republic Bank said Monday that deposits plunged more than $100 billion in the first quarter and it was exploring options such as restructuring its balance sheet. This sharp drop in deposits overshadowed the beleaguered bank’s better-than-expected quarterly earnings. First Republic managed to weather the crisis by injecting…
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GM and Samsung SDI Plan To Build A New Battery Plant In The US
General Motors (NYSE:GM) and Samsung SDI (KOSPI:006400) will announce plans to build a new joint venture battery manufacturing plant in the US as early as Tuesday, Reuters reported, citing sources. The planned announcement comes after Reuters reported in January that GM and LG Energy Solutions (KOSPI:373220) would not be pursuing a fourth US battery manufacturing…
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Netflix Invests $2.5 Billion In South Korea To Produce TV Shows And Movies
Netflix said on Tuesday that it plans to invest $2.5 billion in South Korea over the next four years to produce Korean TV series, movies and reality shows. This investment is twice the amount Netflix has invested in the Korean market since 2016. The US streaming service’s investment was announced after a meeting between South…
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MedPace’s Share Price Soared On Better-Than-Expected Q1 Results
US clinical research firm Medpace Holdings reported first quarter earnings of $2.27 per share after the New York market close on Monday, beating the analyst consensus estimate of $1.80 by 26.11%. Shares soared in after-hours trading following the announcement. This is a 34.32% increase from earnings of $1.69 per share reported for the same period…