Salesforce, Snowflake, Costco and more

Signage on a Saleforce office building in San Francisco, California, U.S., on Tuesday, Feb. 23, 2021. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell:  Salesforce — Salesforce’s stock shed 6.7% despite beating analysts’ expectations on both the top and bottom lines after announcing the departure of […]

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Fed Chair Jerome Powell says smaller rate hikes could come in December

WASHINGTON – Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller interest rate increases are likely ahead even as he sees progress in the fight against inflation as largely inadequate. Echoing recent statements from other central bank officials and comments at the November Fed meeting, Powell said he sees the central bank in position to […]

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Watch Fed Chair Jerome Powell speak on the economy and monetary policy

[The stream is slated to start at 1:30 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell is slated to speak Wednesday at the Brookings Institution. His comments will come as investors look for clues on future monetary policy moves by the […]

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CrowdStrike, Horizon Therapeutics, Petco and more

A customer carries a dog near a Petco Animal Supplies shopping bag outside a store in New York. Angus Mordant | Bloomberg | Getty Images Check out the companies making headlines in midday trading. CrowdStrike — Shares dropped 19% after the cybersecurity provider said new revenue growth is weaker than expected. Otherwise, CrowdStrike beat estimates […]

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European Central Bank says bitcoin is on the ‘road to irrelevance’

The bitcoin logo displayed on a smartphone with euro banknotes in the backgrouund. Andrea Ronchini | NurPhoto via Getty Images The European Central Bank gave a strong critique of bitcoin on Wednesday, saying the cryptocurrency is on a “road to irrelevance.” In a blogpost titled “Bitcoin’s last stand,” ECB Director General Ulrich Bindseil and Analyst […]

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Hormel, Petco, CrowdStrike and more

Check out the companies making headlines before the bell: Hormel (HRL) – The food producer’s stock slid 6.4% in the premarket after reporting a mixed quarter. Earnings beat estimates, but sales came up short of Wall Street forecasts. Hormel issued a weaker than expected outlook and said it expected a continued volatile and high cost environment. […]

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Blackstone is a top pick in financials ahead of a potential Fed pivot, Morgan Stanley says

It’s time to buy Blackstone as investors prepare for a pivot from the Federal Reserve, according to Morgan Stanley. Analyst Betsy Graseck named the private equity giant a top pick in financials, with an overweight rating, saying the stock is attractive entry point after its decline this year. Shares of Blackstone are down nearly 32% […]

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Peter Thiel’s VC fund backs climate-conscious fintech TreeCard

TreeCard offers users a spending and money management platform tied to a debit card made from wood. TreeCard TreeCard, a climate-conscious digital money app, raised $23 million from investors in a new financing round. Founded by British entrepreneur Jamie Cox in October 2020, TreeCard is a novel concept in the fintech world. It offers users […]

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Double-digit percentage drop will hit stocks in 2023: Morgan Stanley

Investors may be on the doorstep of a deep pullback. Morgan Stanley’s Mike Wilson, who has a S&P 500 year-end target of 3,900 for next year, warns corporate America is getting ready to unleash downward earnings revisions that will pummel stocks. “It’s the path. I mean nobody cares about what’s going to happen in 12 […]

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Workday, CrowdStrike, Horizon and more

CrowdStrike IPO at the Nasdaq exchange June 12, 2019. Source: Nasdaq Check out the companies making headlines in after hours trading. Workday — Workday gained 6% postmarket Tuesday after earnings beat Wall Street estimates on both the top- and bottom lines. The software vendor reported adjusted earnings per share of 99 cents on $1.6 billion […]

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