Energy
Venmo gaining ground in payments as Cash App struggles
In the increasingly crowded market for peer-to-peer payments, Venmo is showing momentum while Cash App has hit a rough patch. The parents of both businesses reported quarterly results this week. PayPal, which owns Venmo, reported an earnings beat and kept its forecast for the year. Block, meanwhile, plummeted in extended trading on Thursday after the […]
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Block shares plunge 18% as company takes ‘cautious stance,’ issues weak guidance for year
Block reported first-quarter results that missed Wall Street expectations on Thursday and issued a disappointing outlook. The stock tumbled 15% in extended trading. Here is how the company did, compared to analysts’ consensus estimates from LSEG. Earnings per share: 56 cents adjusted. That figure may not be comparable to estimates. Revenue: $5.77 billion vs. $6.2 […]
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Trump says any country that buys oil from Iran will not be allowed to do business with U.S.
President Donald Trump said Thursday any country or person that buys oil or petrochemicals from Iran will not be allowed to do any business with the U.S. U.S. crude oil futures rose $1.03, or 1.77%, to close at $59.24 per barrel, while global benchmark Brent gained $1.07, or 1.75%, to settle at $62.13. Iran is […]
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Trump rewrites crypto rules in first 100 days, industry celebrates ‘180 pivot’ from Biden years
People walk past an advertisement feature Donald Trump with Bitcoin in Hong Kong. May James | Lightrocket | Getty Images As President Donald Trump hit the 100-day mark this week for his second term in office, his approval numbers were lower than for any administration at this point in over seven decades. Don’t tell that […]
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Why Lennar is betting on a startup building backup batteries for Texas homes
In a warming world with increasingly extreme weather events, homeowners are turning to backup batteries for relief and peace of mind. But the backup only lasts only so long, and there’s a bigger problem at play: aging power grids. Enter the virtual power plant, managed through a cloud-based system. It’s a fertile market for a […]
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Shift4 shares surge 11% on earnings beat as fintech stocks climb on results and upgrades
Jared Isaacman, CEO of Shift4 Payments, at the New York Stock Exchange on June 3, 2021. Source: NYSE Fintech stocks were in focus Tuesday as fresh earnings reports and analyst notes drove sharp reactions across the sector. Shift4 Payments and Upstart Holdings surged following upbeat news, while PayPal shares were slightly higher despite delivering a […]
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Oil industry that Trump wants to ‘drill, baby, drill’ has taken a beating since he took office
An operator for Baker Hughes conducts a wireline survey on a Chesapeake Energy natural gas rig in the North Texas Barnett Shale near Burleson, Texas. Matt Nager | Getty Images President Donald Trump wants the oil and gas industry to “drill, baby, drill” in pursuit of his energy dominance agenda, but the companies involved in […]
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PayPal reports first-quarter earnings beat, maintains forecast
CEO of PayPal Alex Chriss speaks during the Semafor 2025 World Economy Summit at Conrad Washington on April 24, 2025 in Washington, DC. Alex Wong | Getty Images PayPal reported better-than-expected earnings for the first quarter, but the company missed on revenue and reaffirmed its guidance for 2025 due to macro uncertainty. The stock fell […]
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Venmo revenue grows 20%, with debit card payment volume soaring
Justin Sullivan | Getty Images Venmo, long a centerpiece of PayPal‘s growth story but often criticized for its lack of monetization, is becoming a bigger contributor to the business. PayPal said Tuesday in its first-quarter earnings release that revenue at Venmo increased 20% year-over-year in the first quarter, though the company didn’t provide a dollar […]
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PayPal kicks off fintech earnings as investors fear impact of Trump tariffs on consumer spending
FILE PHOTO: A smartphone with the PayPal logo is placed on a laptop in this illustration taken on July 14, 2021. Dado Ruvic | Reuters PayPal, Block and Affirm are all closely tied to the health of the consumer, which has investors on edge headed into their earnings reports. Markets broadly have been jittery to […]
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