Finance
Fintech startup Upgrade valued at $7.3 billion in new funding round
Key Points Upgrade, a provider of online loans and other financial services, said it raised $165 million in its first funding round since 2021. The startup is now valued at $7.3 billion, according to CEO Renaud Laplanche. Neuberger Berman led the round, with participation from LuminArx Capital Management. Source
Read More
Stocks making the biggest moves after hours: J.B. Hunt, United Airlines, Zion and more
Check out the companies making the biggest moves in extended trading: J.B. Hunt Transport Services — Shares of the trucking and logistics company jumped more than 12% in after-hours trading on the back of its strong results. For the third quarter, J.B. Hunt earned $1.76 per share on revenue of $3.05 billion. Analysts polled by […]
Read More
CEOs of Wells Fargo and Pfizer caution the U.S. could lose its edge to China without innovation
Key Points Wells Fargo CEO Charlie Scharf said AI is boosting productivity but will likely reduce workforce size. Pfizer CEO Albert Bourla warned China is closing the biotech and pharmaceutical patent gap rapidly and said the U.S. needs to focus on innovation. Speaking at CNBC’s inaugural Invest in America Forum, both CEOs agreed that the […]
Read More
Fed’s Miran sees China trade tensions as a further reason for quick interest rate cuts
Key Points Fed Governor Stephen Miran said the latest impasse in trade talks between the U.S. and China poses new dangers to the economic outlook and makes the case for rate cuts even more urgent. Miran has advocated for another 1.25 percentage points in cuts on top of the quarter-point move the Federal Open Market […]
Read More
Stocks making the biggest moves midday: Bank of America, Morgan Stanley, Bunge, Progressive and more
Check out the companies making the biggest moves in midday trading: F5 — Shares of the cybersecurity firm fell more than 3% after it disclosed a nation-state actor gained access to its systems. The company said the breach hasn’t hurt its operations. Progressive — The insurer’s stock tumbled about 8% after reporting disappointing results. Progressive […]
Read More
Apple rival Honor launches AI phone tools that help users get online shopping discounts and more
Key Points With the AI upgrade, Honor expects to climb into the top three smartphone brands by market share in mainland China by the end of this year, Fei Fang, president of products at Honor Device, told CNBC in an exclusive interview. Honor’s new AI tools come as Apple has yet to release its AI […]
Read More
Honor reveals a new smartphone with a fold-out robotic camera arm
Key Points Chinese smartphone company Honor is trying to shake up traditional device hardware with a new “robot phone.” The company revealed the device will have a camera that folds out from the back of the phone. Honor said it plans to release more details next year at the Mobile World Congress in Barcelona. Source
Read More
Stocks making the biggest moves premarket: Bank of America, Morgan Stanley, ASML, Papa John’s and more
Check out the companies making the biggest moves in premarket trading: Bank of America — The Brian Moynihan-led bank rose 4.5% after earnings and revenue beat analyst expectations . BofA earned $1.06 per share on revenue of $28.24 billion, while analysts polled by LSEG estimated a profit of 95 cents per share on revenue of […]
Read More
Morgan Stanley slated to release third-quarter earnings
Key Points Wall Street-centric banks like Morgan Stanley and peer Goldman Sachs are in an ideal environment. Wall Street trading desks have seen booming activity in the quarter, while investment banking continues to see a resurgence in activity for mergers and IPOs. Shares of Morgan Stanley have climbed almost 24% this year. Source
Read More
Stocks making the biggest moves midday: Albertsons, Nova Minerals, Wells Fargo, Polaris & more
Check out the companies making the biggest moves midday: Nova Minerals — The miner soared 83%, on pace for its best day ever, after it said the Australian ambassador to the U.S. approached the company regarding its Estelle Gold and Critical Minerals Project in Alaska. “This briefing is in preparation for the upcoming meeting between […]
Read More