Tag Archives: Market News

The recent work stoppage by the United Auto Workers (UAW) union impacted the company’s ability to meet its financial targets. On Thursday, October 26, Ford Motor Co (NYSE: F) reported its Q3 2023 earnings while missing Wall Street expectations. The company has been restructuring its operations and regrouping after the conclusion of nearly six weeks of US labor strike that cost the company a staggering $1.3 billion. Ford in Q3 2023 In the third quarter, Ford reported a shift to net income,...

While the prospect of a Bitcoin ETF is undoubtedly exciting, it is essential to acknowledge the potential challenges and roadblocks that may surface. The crypto community is abuzz with anticipation as the US Securities and Exchange Commission (SEC) considers multiple filings for spot Bitcoin (BTC) Exchange Traded Funds (ETFs). SEC Chair Gary Gensler recently revealed that the regulatory body has between eight to ten such filings on its plate for consideration. Bitcoin’s Rally and Market...

Despite the recent setbacks, Standard Chartered had been on an upward trajectory before the China-related issues came to the forefront. Shares of UK-based banking giant Standard Chartered Plc (LON: STAN) plummeted by as much as 17% during early trading, leading to a temporary halt in trade, and by 11:15 a.m. London time, the stock remained approximately 10% lower. At the time of writing, the stock is pegged at GBX 643.60. The turmoil in the markets reflected the concerns of investors, who...

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...