Yapian, a company that owns the Youbit exchange in South Korea, has filed for bankruptcy Tuesday after a hack that resulted in the loss of 17 percent of its cryptocurrency, according to a statement on its website. (News of the hack was first reported by The Wall Street Journal.) The exchange was used to purchase […]
Read moreShares of Darden Restaurants jumped more than 4 percent in premarket trading Tuesday after the company’s earnings and sales outpaced expectations and it raised its forecast for fiscal 2018. The company, which owns a large portfolio of restaurants including Olive Garden, LongHorn Steakhouse and Yard House, among others, saw same-store sales of its legacy brands […]
Read moreWall Street rarely talks about its mistakes, but Citi Research admitted in a note to clients that it messed up with its call on Walmart this year. Citi Research raised its rating for Walmart shares to buy from neutral, citing the company’s e-commerce progress. “We sat on the sideline with this name in ’17, which […]
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Buoyant American attitudes on the economy look set to show up in plentiful, record-setting holiday spending this season. The CNBC All-American survey found that average holiday spending intentions will top $900 for the first time in the 12-year history of the survey, eclipsing last year’s estimate of $702 by a wide margin. The survey of […]
Read moreMain Street helped Donald Trump to a win in November, feeding on his message of less regulation, coupled with overhauls to both the tax code and the Affordable Care Act. These pillars of Trump’s campaign and his first year in office — with expectations for action on key issues like tax reform — has sent […]
Read moreU.S. homebuilding unexpectedly rose in November, with the construction of single-family housing units surging to a 10-year high, but revisions to the prior month’s data indicated the sector was continuing to struggle with supply constraints. Housing starts increased 3.3 percent to a seasonally adjusted annual rate of 1.297 million units, the Commerce Department said on […]
Read moreGeneral Motors shares rose after RBC Capital Markets upgraded the stock to outperform on Tuesday. “We believe GM guides 2018 above consensus leading to positive earnings revisions,” wrote analyst Joseph Spak. “The stock fits squarely into our preferred narrative for 2018 – increased confidence on downturn resiliency with a seat at the table on new […]
Read moreGermany’s cartel office has found that Facebook abused its dominant market position, challenging the U.S. social network’s model of monetizing the personal data of its 2 billion users worldwide through targeted advertising. Presenting preliminary findings of its 20-month-old probe, the Federal Cartel Office said Facebook held a dominant position among social networks – a characterisation […]
Read moreCheck out which companies are making headlines before the bell: Darden Restaurants – The Olive Garden parent earned an adjusted 73 cents per share for its second quarter, three cents a share above estimates. Revenue also beat forecasts and Darden raised its full-year forecast. Navistar – The truck maker reported fourth-quarter profit of $1.36 per […]
Read moreBitcoin’s price isn’t the only thing soaring to colossal levels. People are currently paying $28 on average to make transactions using the digital currency, according to data by BitInfoCharts. Users of cryptocurrency exchanges like Coinbase incur such transaction fees when transferring money to an external bitcoin address. Bitcoin addresses are like virtual bank account numbers […]
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