Coinbase Stock Keeps Sliding After Earnings Report

Coinbase Stock Keeps Sliding After Earnings Report

The biggest cryptocurrency exchange in the US said it was bleeding users, reflecting continued destruction in the crypto market and investors’ unease about risky assets. Coinbase Global Inc. CORNER -12.60% said Tuesday that it lost hundreds of millions of dollars in the first quarter, sending the stock tumbling in after-hours trading. Following the after-market report, … Read more

Uber, Amazon, and Facebook Have Slowed Hiring. Why Others Could Follow.

Uber, Amazon, and Facebook Have Slowed Hiring. Why Others Could Follow.

Text size Uber is one of multiple tech companies slowing down hiring and cutting back on spending. Drew Angerer/Getty Images facebook parent Meta Platforms, ride-share service provider Uber Technologies and tech and online retail giant Amazon.com have announced hiring slowdowns in recent weeks. It’s all about keeping down costs, according to one economist. Peter Boockvar, … Read more

Stocks Open Lower as Bond Yields Edge Higher

Stocks Open Lower as Bond Yields Edge Higher

US stock indexes fell, led by losses in technology shares, as investors shunned both government bonds and equities on worries that further interest-rate increases and China’s Covid-19 policies would weigh on growth. The S&P 500 declined 1.5%, setting major indexes up for another day of losses. The technology-focused Nasdaq Composite Index fell 1.8% while the … Read more

Bausch + Lomb Prices IPO at $18 a Share, Below Expectations

Bausch + Lomb Prices IPO at $18 a Share, Below Expectations

Bausch + Lomb Corp. priced its IPO at $18 a share Thursday, falling short of expectations as it became the first big company in months to try going public into a turbulent stock market. Bausch Health BHC -7.40% Cos., the parent company, raised $630 million in the offering. It had been aiming to raise as … Read more

Peloton Seeks Minority Investment to Shore Up Business

Peloton Seeks Minority Investment to Shore Up Business

Exercise-bike maker Peloton has seen its stock fall after a period of high demand early in the pandemic. Photo: Jeenah Moon/Bloomberg News Interactive Platoon Inc. PTON -9.09% is exploring a sale of a sizable minority stake, in an effort to shore up its business as the once-hot bike maker’s stock continues to sink. The fitness … Read more

Why Is Bitcoin Falling? Prices Drop Amid Broader Market Tumble.

Why Is Bitcoin Falling? Prices Drop Amid Broader Market Tumble.

Bitcoin was trading around $37,000 Thursday. Rutmer Visser/Dreamstime Text size The price of Bitcoin, Ether, and other cryptocurrencies slumped on Thursday, reversing a recent rally as a deep selloff in the stock market spread to digital assets.. Bitcoin tumbled 6% over the past 24 hours to around $36,900, after ending 6% higher on Wednesday and … Read more

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas

Fed, Biden Administration Float New Lending Rules for Lower-Income Areas

WASHINGTON—Top US regulators proposed overhauling how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era revamp that had divided regulators and industry officials. The latest proposal to modernize rules for the 1977 Community Reinvestment Act, announced Thursday, aims to ensure lending to lower-income individuals and small businesses is distributed … Read more

Stocks Open Mixed Ahead of Fed Decision

Stocks Open Mixed Ahead of Fed Decision

US stocks wavered Wednesday ahead of the Federal Reserve’s interest-rate decision. The S&P 500 gained less than 0.1% in early New York trading. The tech-focused Nasdaq Composite Index slipped 0.1% while the Dow Jones Industrial Average was roughly flat. Fed officials are widely expected to announce Wednesday afternoon that they are raising interest rates by … Read more

Facebook’s E-Commerce Bet Stumbles as Meta Looks to Revamp Its Ads Business

Facebook’s E-Commerce Bet Stumbles as Meta Looks to Revamp Its Ads Business

facebook fb 0.43% parent Meta Platforms Inc. FB 0.43% developed e-commerce services in 2020 as people shopped more from home and the company faced a changing digital ad market. Two years later, employees, former executives and retailers say the division remains a work in progress. Some retailers say they are frustrated by Meta‘s e-commerce rollout, … Read more

Berkshire Hathaway May Have Sold Verizon, Bought $10 Billion of Financials

Berkshire Hathaway May Have Sold Verizon, Bought $10 Billion of Financials

Text size Warren Buffett’s Berkshire Hathaway said it incurred $739 million of realized losses on equity sales in the first quarter. Paul Morigi/Getty Images for Fortune/Time Inc. Berkshire Hathaway‘s record quarterly equity purchases of $51.1 billion in the first quarter, including large buys of Chevron and Western Petroleum, probably went up to the biggest news … Read more