Month: July 2022
AbbVie’s mixed quarter doesn’t warrant a 5% stock drop. Here’s why
It wasn’t a clean quarter from AbbVie but Friday’s selloff is a bit confusing. Source
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Space company Masten files for bankruptcy after struggle with NASA moon contract
Lunar-focused company Masten Space Systems filed for Chapter 11 bankruptcy protection on Thursday, with the venture winnowed down to a handful of people after layoffs and furloughs. The space company declared as its debts ballooned, tracing back to a NASA contract awarded to Masten two years ago. Once seen as a major win for the […]
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‘Stranger Things’ cinematographer went from ‘struggling’ in LA to shooting the biggest show on TV: ‘I was thrilled beyond belief’
Conquering the world of blockbuster television was never part of ‘Stranger Things’ cinematographer Caleb Heymann’s plan. The filmmaker spent most of his 20s in South Africa, where he attended film school and later built a modest career shooting commercials and small films. But after winning a special jury prize at the 2016 Sundance Film Festival, […]
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Mortgage rates fall sharply after negative GDP report and Fed’s latest hike
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, when the Fed announced its latest rate hike, according to Mortgage News Daily. The rate fell even further Friday […]
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The death of easy money: Why 20% annual returns are over in crypto lending
PARIS — Celsius and Voyager Digital were once two of the biggest names in the crypto lending space, because they offered retail investors outrageous annual returns, sometimes approaching 20%. Now, both are bankrupt, as a crash in token prices — coupled with an erosion of liquidity following a series of rate hikes by the Federal […]
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House Democrats push for Biden’s billionaire minimum income tax
Erik McGregor | LightRocket | Getty Images As Democrats plow forward with a slimmed-down reconciliation package, House lawmakers are separately pushing another piece of President Joe Biden’s agenda: taxing the ultra-wealthy. Reps. Don Beyer, D-Va., and Steve Cohen, D-Tenn., have introduced the Billionaire Minimum Income Tax Act, calling for a 20% levy on households worth […]
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Uber unveils new features, including one that lets drivers choose the trips they want
Uber app on a smart phone. Alex Kraus | Bloomberg | Getty Images Uber announced a series of new features Friday aimed at enhancing driver experiences on the ridesharing app as drivers continue to contend with high gas prices and inflation rates. Drivers across the U.S. will be able to see exactly how much they’ll […]
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Stocks making the biggest moves midday: Roku, Amazon, First Solar, Intel, Apple & more
People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017. Brendan McDermid | Reuters Check out the companies making headlines in midday trading Friday. Amazon — Shares of the e-commerce giant jumped more than […]
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How US-made mobile-rocket artillery could change the battlefield in Ukraine
Artillery has quickly become the most important weapon in Ukraine’s war with Russia. Ukrainian forces have begun to use newer Western artillery, like the M777 Howitzer, in the battlefield. But a different kind of weapon has had a bigger impact. The American-made High Mobility Artillery Rocket System, aka HIMARS, has been a major high-tech upgrade […]
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Bank stocks are ‘too cheap’ and could outperform S&P 500 after recession strikes, Oppenheimer says
Bank stocks have sold off this year on fears that a looming recession will rock the sector with surging loan defaults. But that reflex is an example of recency bias and ignores a few key differences in the U.S. financial industry after the 2008 financial crisis, Oppenheimer analyst Chris Kotowski said Friday in a research […]
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