Tag Archives: Market News

Mercedes-Benz cited higher inflation, supply chain-related costs, and a 329-million-euro foreign exchange setback, among the factors that shrank its Q3 2023 earnings. Luxury car maker Mercedes-Benz Group AG (ETR: MBG) has revealed that its earnings took a hit in the third quarter (Q3). According to a Thursday announcement by the firm, this reflects the current state of the market, which it described as “subdued”. Although its forecast for the full year is 12%-14%, the latest report means...

The forthcoming MiCA regulation aims to introduce a uniform set of rules and guidelines for crypto assets that currently operate outside the scope of traditional financial regulations. Fidelity Investments, one of the leading asset management companies in the United States, plans to establish its presence in Europe through its crypto subsidiary Fidelity Digital Assets.  The unit, launched in November 2018 to offer Wall Street investors the opportunity to buy and sell cryptocurrencies such...

It is worth noting that the SEC’s action come only days after BlackRock unveiled its ticker symbol (IBTC) in anticipation of the approval of its spot Bitcoin Exchange Traded Fund (ETF). The US Securities and Exchange Commission (SEC) recently fined BlackRock Advisors LLC, a subsidiary firm of BlackRock Inc (NYSE: BLK), $2.5 million for failing to provide accurate and transparent disclosures about investments in the entertainment industry within a publicly traded fund it managed....

Thanks to its stellar financial performance in the third quarter, the bank has raised its full-year outlook for 2023. Shares of German banking giant Deutsche Bank (ETR: DBK) surged by a remarkable 7% on Wednesday morning following the company’s stellar Q3 2023 performance that exceeded market expectations. Despite an 8% decline in net profit compared to the previous year, the bank’s Q3 2023 net profit of €1.031 billion surpassed the €997 million analysts earlier predicted. Its strong...

A DTCC spokesperson confirmed that the IBTC ticker for the BlackRock iShares Bitcoin ETF has appeared since August through a unique ID code called CUSIP. Bitcoin has made a strong move moving to $35,000 earlier this week and clocking more than 20% gains on the weekly chart. This typically happened as the BlackRock iShares Bitcoin ETF ticker IBTC surfaced on the Depository Trust and Clearing Corporation’s (DTCC) website. Interestingly, one spokesperson from DTCC recently confirmed with...

Visa stock is up by about 23% over the past 12 months and only slightly down from July 2021’s all-time high of $252.67. Visa Inc (NYSE: V) stock rose 1.35% in Tuesday’s regular session following the release of the company’s earnings results for its fiscal Q4 2023 on Tuesday. The shares rose to $234.65, trading between the 50-day and 200-day lines. The payments giant’s earnings results late Tuesday exceeded analyst predictions for the quarter as transaction volume increased due to an...

Snap’s GAAP net loss in Q3 2023 increased by 2% year-on-year to $368 million or 23 cents per share. Snapchat parent company Snap Inc (NYSE: SNAP) shares fell flat after surging as much as 20% in after-hours trading as the news that some advertisers had suspended ad spending following the start of the war in the Middle East reached investors. At the time of writing, SNAP stock is at around 1.2% up in the pre-market. According to this CNBC report, the company revealed that it has “observed...

The Crypto Sector Index Series will include several indices tracking the prices of a bucket of different digital assets based on their use cases.  The world’s largest digital assets manager Grayscale Investments continues to take steps in order to expand its footprint in the market. Also, the latest report shows that Grayscale is venturing into the crypto indices business in partnership with the London-based indices provider FTSE Russell, a London Stock Exchange subsidiary. Grayscale and...

Coca-Cola is one of the few beverage and food companies worldwide still standing strong despite the ongoing global financial meltdown.  Coca-Cola Co (NYSE: KO), the global beverage giant, has demonstrated impressive resilience in its recently reported third-quarter (Q3 2023) earnings, beating analysts’ estimates and raising its outlook for the full year. The company reported net sales of $11.91 billion, indicating an 8% increase from the previous quarter, with organic (non-GAAP) revenue...

As the largest sovereign wealth fund worldwide, the Norways’s Government Pension Fund Global boasts a robust portfolio across different sectors within the financial market.  Norway’s Government Pension Fund Global, created in the 1990s to manage surplus revenues from the country’s thriving oil and gas sector, faced significant hurdles in its third quarter financial revenues ending September 2023. In an announcement on Tuesday, the Norges Bank Investment Management said the fund, which...