Block Inc
Fintechs Upstart and Toast soar on earnings
Chris Comparato, CEO, the Toast, Inc. IPO at the New York Stock Exchange, on September 22, 2021. Source: NYSE Upstart, which uses artificial intelligence to inform online lending decisions, soared 46% on Friday, its best day in over three years. Toast, which sells payments technology to restaurants, jumped 14%, closing at its highest since 2021. […]
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Jack Dorsey dramatically scales back crypto ambitions for Block
Jack Dorsey, co-founder of Twitter Inc., speaks during the Bitcoin 2021 conference in Miami, Florida, U.S., on Friday, June 4, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images During the crypto-crazed summer of 2021, when memecoins like dogecoin and Shiba Inu were rocketing alongside bitcoin and ethereum, Square founder Jack Dorsey announced that his […]
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Stocks making the biggest moves midday: Tesla, Airbnb, Toast, Pinterest & more
Check out the companies making headlines in midday trading. Tesla — The electric vehicle stock gained nearly 7%, continuing to rally on the heels of Donald Trump winning a second presidential term. The Elon Musk-helmed company saw its market capitalization rise to $1 trillion on Friday. Shares have gained more than 26% this week. Trump […]
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Stocks making the biggest moves premarket: Pinterest, Monster Beverage, Bath & Body Works, Trump Media & more
Check out the companies making headlines before the bell. Trump Media & Technology Group — Shares of President-elect Donald Trump’s media company fell another 4.6% in premarket trading following a 23% plunge in the previous session. The stock, which trades under ticker Trump’s initials, DJT, has given up Wednesday’s rally triggered by Trump’s election victory. […]
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Block reports revenue miss but a slight beat on earnings
Block reported third-quarter revenue on Thursday that trailed Wall Street expectations. The stock initially sold off after hours but erased most of its losses as investors focused more on profitability metrics. Here is how the company did, compared to analysts’ consensus estimates from LSEG. Earnings per share: 88 cents adjusted vs. 87 cents expected Revenue: […]
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Stocks making the biggest moves after hours: Airbnb, Pinterest, Expedia, Rivian and more
Check out the companies making headlines in extended trading: Rivian — The electric vehicle maker added nearly 2% despite missing on both top and bottom lines in the third quarter. Rivian posted an adjusted loss of 99 cents per share on $874 million in revenue. Analysts polled by LSEG had forecast a loss of 92 […]
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Affirm beats on top and bottom lines
Affirm, the provider of buy now, pay later loans reported better-than-expected fiscal first-quarter results. Here’s how the company did, compared to analysts’ consensus estimates from LSEG. Loss per share: 31 cents adjusted vs. a loss of 35 cents expected Revenue: $698 million vs. $664 million expected Affirm reported gross merchandise volume (GMV) of $7.6 billion, topping the […]
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Payments giant Adyen reports 21% jump in third-quarter sales
Key Points Adyen, whose technology allows businesses to accept payments online and in-store, reported third-quarter net revenue of 498.3 million, up 21% year-on-year. It comes after Adyen shares tanked nearly 40% in a single day last August on the back of worse-than-expected sales and declining profits. Source
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Stock futures are little changed after major post-election rally as focus shifts to Fed: Live updates
Expectations fall towards a January rate cut With Treasury yields rising on the back of a Trump election victory, expectations have fallen as to how aggressive the Federal Reserve will be in cutting interest rates this winter. The fed funds rate, which determines what banks charge each other for overnight lending, currently ranges between a […]
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Affirm expands buy now, pay later service to the UK, heating up local competition
Key Points Affirm, the U.S. buy now, pay later firm, on Monday launched its services in the U.K. — its first expansion overseas. Max Levchin, CEO of Affirm, told CNBC the company is seeing a lot of demand from merchants in Britain. Affirm’s arrival in the U.K. comes as the government is consulting on plans to […]
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