Bitcoin surged above $60,000 on Wednesday, marking its highest level since November 2021. Coin Metrics reported the flagship cryptocurrency at $62,487.00, reflecting a 9% increase, with a peak of $62,555.00. Despite nearing its all-time high of $68,982.20, the market remains driven to retest and potentially surpass this milestone. Bitcoin has witnessed a remarkable rally, surging… Continue reading Bitcoin jumps above $62,000 for the first time since November 2021

The U.S. Federal Trade Commission (FTC) announced its intent to halt the merger of Kroger and Albertsons, citing concerns that the combination would lead to increased prices for consumers and reduced wages for workers. This move comes after a bipartisan group of nine attorneys general joined the FTC in its effort to block Kroger’s $24.6… Continue reading FTC sues to block Kroger, Albertsons merger, arguing deal would raise grocery prices and hurt workers

Cava, the Mediterranean restaurant chain, surprised investors with an early release of its earnings report, leading to a 7% surge in its stock price on Tuesday morning. Originally scheduled for release after Tuesday afternoon’s market close, the company rushed its press release on Monday evening following leaked versions of the results. The fourth-quarter report revealed… Continue reading Cava stock pops after blunder leads to early earnings release

The Dow Jones Industrial Average is undergoing a significant transformation as Amazon officially joins the index, replacing Walgreens Boots Alliance. This change aims to modernize the Dow and potentially improve its recent underperformance compared to the S&P 500. The Dow, with only 30 components, is often seen as a less representative index due to its… Continue reading Amazon joins the Dow Monday, giving the 127-year old index a needed upgrade as it trails the S&P 500

Berkshire Hathaway experienced a surge in its shares following the release of robust earnings for the fourth quarter, with both Class A and Class B shares witnessing an increase of over 1.5%. Notably, Class A shares have risen by more than 17% and Class B shares by more than 18% year-to-date, propelling Berkshire’s valuation to… Continue reading Berkshire shares jump after big profit gain as Buffett’s conglomerate nears $1 trillion valuation

Warner Bros. Discovery faced a downturn in its fourth-quarter performance, missing analyst expectations for both profit and revenue as advertising declined and free cash flow guidance for 2024 was omitted. The company’s net loss for the quarter was $400 million, with a 14% decline in linear television advertising revenue and a 4% drop in distribution… Continue reading Warner Bros. Discovery shares drop 12% as company misses estimates, warns of 2024 cash flow headwinds

Intuitive Machines saw a significant surge in its stock value following the successful landing of its moon lander, “Odysseus,” marking the first privately developed spacecraft to land on the lunar surface and the first U.S. spacecraft to softly land on the moon in over five decades. The company, based in Houston, Texas, confirmed the successful… Continue reading Intuitive Machines stock jumps in wild trading after moon landing

The S&P 500 reached an all-time high on Thursday following Nvidia’s exceptional quarterly report, which significantly exceeded expectations and drove a surge in the broader tech sector. Nvidia’s shares soared nearly 15% to a record high after reporting a remarkable 265% year-on-year increase in total revenue, primarily fueled by its booming artificial intelligence business. The… Continue reading S&P 500 hits record, Nasdaq heads for best day in over a year after blockbuster Nvidia earnings

The Internal Revenue Service (IRS) is intensifying its efforts to tackle tax evasion among millionaires and billionaires, estimated to surpass $150 billion annually, exacerbating government deficits and fostering an imbalance in the tax system. With substantial new funding from Congress, the IRS has initiated a comprehensive crackdown targeting wealthy individuals, partnerships, and large corporations. Commissioner… Continue reading Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief

Shares of cybersecurity company Palo Alto Networks tumbled 19% in extended trading following its quarterly earnings report, despite beating expectations on both the top and bottom lines. The company reported adjusted earnings per share of $1.46, exceeding the expected $1.30, and revenue of $1.98 billion, slightly higher than the anticipated $1.97 billion. However, Palo Alto… Continue reading Palo Alto Networks shares plunge after company cuts full-year billings, revenue guidance

The Biden administration announced on Wednesday its intention to forgive $1.2 billion in student debt for nearly 153,000 borrowers enrolled in the new repayment program, known as the Saving on a Valuable Education (SAVE) plan. This relief is targeted towards borrowers who have been in repayment for a decade or longer and initially borrowed $12,000… Continue reading Biden administration to forgive $1.2 billion in student debt for over 150,000 borrowers

Capital One Financial has unveiled plans to acquire Discover Financial Services in an all-stock deal valued at $35.3 billion. This agreement offers Discover shareholders 1.0192 Capital One shares for each Discover share, representing a significant premium of about 26% from Discover’s closing price of $110.49 on Friday. The merger, expected to finalize in late 2024… Continue reading Capital One to acquire Discover Financial Services in $35.3 billion all-stock deal