business news
Founders of bankrupt crypto hedge fund 3AC go missing, as investors try to recoup assets
The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images The co-founders of failed crypto hedge fund Three Arrows Capital appear to be on the run from creditors, according to court documents recently filed in New York. Lawyers representing the creditors say the physical whereabouts of Zhu […]
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Jan. 6 committee hearing to examine the role extremist groups played in the Capitol riot
The House select committee investigating the Jan. 6 riot is poised Tuesday to show how domestic violent extremist groups helped fuel the attack on the U.S. Capitol as part of former President Donald Trump’s campaign to try to overturn his loss to President Joe Biden. The committee’s seventh public hearing will focus on how Trump’s […]
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Electric vehicle startup Lordstown Motors names new CEO following Foxconn deal
Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio, on Saturday, May 15, 2021. Dustin Franz | Bloomberg | Getty Images Electric vehicle startup Lordstown Motors said Tuesday that its president, Edward Hightower, will be its new CEO, effective immediately. He replaces Daniel Ninivaggi, who moves into a strategic role as the company’s executive chairman. […]
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5 things to know before the stock market opens Tuesday
People walk by the NYSE in New York City. Spencer Platt | Getty Images News | Getty Images Here are the most important news items that investors need to start their trading day: 1. Futures slide Stock futures fell Tuesday morning, setting up a second straight day of losses. Markets are coming off a winning […]
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The euro is near parity with the U.S. dollar: Here’s how travelers can take advantage of the exchange rate
A customer reaches down to pick up a bottle of water from a street vendor in Paris on June 17, 2022. Stefano Rellandini | Afp | Getty Images The value of the euro relative to the U.S. dollar has sunk near a two-decade low — and that’s good news for Americans traveling to Europe this […]
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Stocks making the biggest moves premarket: PepsiCo, Gap, Peloton and others
Check out the companies making headlines before the bell: PepsiCo (PEP) – The beverage and snack giant reported an adjusted quarterly profit of $1.86 per share, 12 cents above estimates, and revenue topped Wall Street forecasts. The company also raised its full-year forecast as consumer demand holds up even as prices rise. PepsiCo gained 1.2% […]
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Morgan Stanley downgrades American Express on lower spending among high-end consumers
Shares of American Express could come under pressure as more consumers cut back on spending because of inflation, according to Morgan Stanley. Analyst Betsy Graseck downgraded shares of American Express to equal weight from overweight, and cut the price target, saying in a Tuesday note that rising prices are starting to hit more wealthy consumers. […]
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Peloton to outsource all manufacturing as part of its turnaround efforts
A Peloton Interactive Inc. logo on a stationary bike at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021. Adam Glanzman | Bloomberg | Getty Images Peloton said Tuesday that it plans to exit all of its in-house manufacturing and instead will expand its current relationship with Taiwanese manufacturer Rexon Industrial, in […]
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Citi upgrades JPMorgan Chase to buy, says stock is at an attractive entry point
Investors should consider buying shares of JPMorgan Chase ahead of a major earnings week for banks as they’re at an attractive entry point, according to Citi. Analyst Keith Horowitz on Tuesday upgraded shares of JPMorgan to buy from neutral, citing solid fundamentals that should appeal to investors, as well as the recent pullback in the […]
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PepsiCo raises revenue outlook after sales and profit top expectations
A customer holds a can of Pepsi beverage at a shopping mall on March 9, 2022 in Shaoxing, Zhejiang Province of China. VCG | Getty Images PepsiCo on Tuesday raised its revenue outlook for the year as consumers snacked on more Doritos chips and drank more Gatorade in its latest quarter. Shares of the company […]
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