Month: January 2025
Investor Cliff Asness says bitcoin is a bubble unless uses besides speculation and criminality emerge
Key Points Cliff Asness, co-founder of AQR Capital Management, believes bitcoin is in a speculative bubble after the cryptocurrency’s swift rally carried it above $100,000 following the November presidential election. Asness said there are three uses for crypto that he has identified: speculation, use in war-torn countries and paying cyber ransom. Source
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Eli Lilly CEO expects new weight loss pill to be approved next year
David Ricks, CEO, Eli Lilly Scott Mlyn | CNBC Eli Lilly expects its experimental weight loss pill will get approved as soon as early next year, CEO David Ricks told Bloomberg TV on Monday. The company is set to release key late-stage trial data on the drug, orforglipron, by the middle of this year. Eli […]
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Comcast and Harris Blitzer to build new NBA, NHL stadium in South Philadelphia
Joe Daniel Price | Moment | Getty Images Harris Blitzer Sports & Entertainment announced on Monday a joint venture with Comcast Spectacor to build a new arena in South Philadelphia for the NBA’s 76ers and the NHL’s Flyers. The deal represents a reversal from previous plans to build an arena in the Center City district […]
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Biden’s total student debt relief passes $183 billion, after he forgives another 150,000 borrowers
US President Joe Biden speaks about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024. Andrew Caballero-Reynolds | AFP | Getty Images In his final days in office, President Joe Biden announced that his administration would forgive student debt for more than 150,000 borrowers. That relief includes nearly 85,000 […]
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Eli Lilly to buy Scorpion Therapeutics’ cancer therapy for up to $2.5 billion
A sign with the company logo outside the headquarters of Eli Lilly and Company in Indianapolis, Indiana, March 17, 2024. Scott Olson | Getty Images Eli Lilly said on Monday it plans to buy Scorpion Therapeutics’ experimental cancer therapy for up to $2.5 billion in cash to expand its pipeline of cancer treatments. The company […]
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Cleveland-Cliffs partnering with Nucor on potential bid for U.S. Steel, sources say
A United Steelworkers sign is seen outside the Great Lakes Works United States Steel plant in River Rouge, Michigan U.S., September 16, 2024. Rebecca Cook | Reuters Cleveland Cliffs is partnering with rival Nucor in a potential bid for U.S. Steel, whose takeover by Japan’s Nippon Steel was just blocked by the White House earlier […]
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Stocks making the biggest moves premarket: Abercrombie & Fitch, Pinterest, Howard Hughes Holdings and more
Check out the companies making headlines before the bell: Quantum stocks — Quantum stocks tumbled on Monday morning, following comments from Mark Zuckerberg echoing Nvidia CEO Jensen Huang that quantum is at least a decade away from being a “useful paradigm.” Zuckerberg made the comments on a Friday episode of the “Joe Rogan Experience.” Shares […]
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Why you may be paying to help make the mattress industry more eco-friendly
Key Points Four states now levy an extra fee of $16 to $22.50 when consumers buy a new mattress or box spring. The fees help fund mattress recycling efforts. Oregon launched its program Jan. 1. California and Connecticut raised their fees in 2025. Other states are considering the programs, an example of “extended producer responsibility” […]
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5 things to know before the stock market opens Monday
Here are the most important news items that investors need to start their trading day: 1. Trimming tech U.S. stock futures fell Monday as investors were poised to drop key tech stocks. The drop in growth stocks comes as the U.S. 10-year Treasury yield climbs. A stronger-than-expected December jobs report also hit the market Friday, […]
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Moderna stock plunges 18% after company lowers 2025 sales forecast by $1 billion
The Moderna Inc. headquarters in Cambridge, Massachusetts, US, on Tuesday, March 26, 2024. Adam Glanzman | Bloomberg | Getty Images Moderna on Monday lowered its 2025 sales guidance by roughly $1 billion due to a few potential headwinds later this year, as the biotech company continues to cut costs and expand its portfolio. Moderna now […]
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