CompaniesBIO

Robinhood Markets, Inc. CEO and co-founder Vlad Tenev and co-founder Baiju Bhatt pose with Robinhood signage on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. Andrew Kelly | Reuters Robinhood Markets CEO Vlad Tenev said Tuesday he's unclear what Sam Bankman-Fried, the disgraced former CEO of FTX, is going to do with his 7.6% stake in his trading app. "I'm not surprised that it's one of the more valuable assets they have on on their balance sheet because it is public company's stock," Tenev said on CNBC's "Squawk Box." "We don't have a lot of information that you guys don't have. We're just watching this unfold and ... it's going to be locked up in bankruptcy proceedings , most likely for some time. And so we're just kind of seeing how that plays out." In May, Bankman-Fried took a 7.6% stake in Robinhood worth $648 million in the belief that the shares "represent an a...

In this article LRCX PNT-FF IP PHM UPS MCD AOS PARA CAT Follow your favorite stocks CREATE FREE ACCOUNT General Motors CEO Mary Barra speaks to reporters while she waits for the arrival of President Joe Biden at media day of the North American International Auto Show in Detroit, Michigan, September 14, 2022. Rebecca Cook | Reuters Check out the companies making headlines in midday trading Tuesday. General Motors — The automaker's stock surged more than 7% after the company cruised past analyst estimates on the top and bottom lines for its fourth quarter. The company reported an adjusted $2.12 per share on $43.11 billion in revenue. Analysts surveyed by Refinitiv were looking for $1.69 in earnings per share on $40.65 billion in revenue. The outperformance came despite profit margins narrowing year over year. GM also said it expected earnings to fall in 2023, but that guidance was still above analyst estimates. Caterpillar — Shares fell about 3% after Caterpillar reported a 29% e...

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, August 29, 2022. Brendan McDermid | Reuters After a tumultuous year for financial markets, Standard Chartered outlined a number of potential surprises for 2023 that it says are being "underpriced" by the market. Eric Robertson, the bank's head of research and chief strategist, said outsized market moves are likely to continue next year, even if risks decline and sentiment improves. He warned investors to prepare for "another year of shaken nerves and rattled brains." related investing news The bear market isn't over, and drawdown has another 25% to go, Wolfe Research predicts Carmen Reinicke 15 hours ago JPMorgan double downgrades Royal Caribbean Group, says it's 'more vulnerable' to macro pressures Sarah Min 17 hours ago Fund manager says a 'turning point' for Big Tech is near. Here's what he's watching Ganesh Rao a day ago The biggest su...

The Securities and Exchange Commission today proposed amendments to its ethics rules to strengthen and modernize its ethics compliance program. The amendments would add new requirements and prohibitions to the program, which already includes some of the most stringent ethics requirements in the executive branch for all agency employees, their spouses, and minor children. "I was pleased to support today’s proposal to strengthen, modernize, and optimize the SEC’s ethics requirements," said SEC Chair Gary Gensler. "We at the Securities and Exchange Commission are entrusted by the public to oversee the U.S. capital markets. These amendments, if adopted, would help ensure that the SEC honors the trust that the public has placed in us." Currently, SEC employees are required to preclear securities transactions and comply with minimum holding periods. All employees are prohibited from, among other things, transacting in securities of companies the agency is investigatin...

In this article CVNA CPB STT TOL MDB JD Follow your favorite stocks CREATE FREE ACCOUNT A mascot of TripAdvisor is seen at its display at a trade fair. Axel Schmidt | Reuters Check out the companies making headlines in midday trading. Carvana — Shares of the online car dealership fell more than 32% after Carvana's largest creditors signed an agreement to negotiate together with the company. Bankruptcy concerns around Carvana have grown since the company reported disappointing third-quarter results last month. The pact between the creditors was first reported by Bloomberg. related investing news Bank of America upgrades SolarEdge on improving outlook, says stock can jump more than 20% Alex Harring 5 hours ago Deutsche Bank upgrades Estee Lauder, says cosmetics stock will get a boost from China reopening in 2023 Sarah Min a day ago MongoDB — The database platform surged almost 22% following the company's quarterly results. Mongo posted better-than-expected revenue for the mo...

In this article RENT CIEN OXM GME Follow your favorite stocks CREATE FREE ACCOUNT watch now VIDEO 1:28 01:28 News Update – Pre-Markets News Briefing Check out the companies making headlines before the bell: Ciena (CIEN) – The networking equipment maker's stock surged 19.1% after a substantial top and bottom line beat in its latest quarter. Ciena earned an adjusted 61 cents per share for its latest quarter, compared with a consensus estimate of 8 cents. The company also said it sees "outsized" revenue growth in 2023. related investing news Pro Picks: Watch all of Wednesday's big stock calls on CNBC Joshua Natoli 14 hours ago GameStop (GME) – GameStop reported a wider-than-expected quarterly loss and sales that fell short of predictions. CEO Matt Furlong said the company had completed necessary investments and would be very judicious in future spending. GameStop moved between gains and losses in premarket trading. Rent The Runway (RENT) – Rent The Runway surged 16....

One Canada Square, at the heart of Canary Wharf financial district seen standing between the Citibank building and HSBC building on 14th October 2022 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images The U.K. government on Friday announced extensive reforms to financial regulation that it says will overhaul EU laws that "choke off growth ." The package of 30 measures includes a relaxation of the rule that requires banks to separate their retail operations from their investment arms. This measure — first introduced in the wake of the 2008 Financial Crisis — would not apply to retail-focused banks. The government is also expected to review rules around the accountability of top finance executives — another post-2008 regulation. The Senior Managers Regime, introduced in 2016, means individuals at regulated firms can face penalties for poor conduct, workplace culture or decision-making. Changes announced in the package, dubbed the Edinburgh Reforms, also include...

In this article BBWI COST DOCU NFLX CVNA TSLA BYND LULU Follow your favorite stocks CREATE FREE ACCOUNT SOPA Images | Lightrocket | Getty Images Check out the companies making the biggest moves midday : Lululemon — Shares of Lululemon fell 12% after the athletic apparel company gave a weaker-than-expected fourth-quarter outlook. In the third quarter, the company beat Wall Street's expectations on the top and bottom lines. related investing news Jim Cramer's top 10 things to watch in the market Thursday: War cloud, Salesforce downgrade, GameStop quarter Jim Cramer a day ago Beyond Meat — Beyond Meat's stock dropped more than 8% after being downgraded by Argus to sell from hold. The firm's analyst cited falling demand amid weaker economic conditions. Broadcom — Broadcom gained 3.1% after giving an upbeat revenue forecast and reporting better-than-expected quarterly results after the bell Thursday. The chipmaker also increased its dividend by 12.2% and said it wou...

The Bahamas has more than 700 islands and cays; remote workers and students can live on 16 of them, including Eleuthera (shown here). Sylvain Sonnet | The Image Bank | Getty Images Bahhamian lawyers say FTX executives Sam Bankman-Fried and Ryan Salame spent $256.3 million spent to buy and maintain 35 different properties across New Providence, Bahamas. Now, Bahamas regulators are trying to claw back the property from FTX's U.S. bankruptcy protection proceedings, telling a Delaware federal bankruptcy judge that allowing the properties to be administered in U.S. courts would be both administratively ineffective and illegal under Bahamas law. It is the first true look behind the curtain at FTX's mammoth real estate spending. Tens of million s were spent just at the small island development that Bankman-Fried called home, with FTX's holding company buying at least 15 properties and one vacant lot for a combined total of over $143 million . Two of the largest apartments at ...

FTX logo on mobile screen with crypto coins are displayed for illustration. Jonathan Raa | Nurphoto | Getty Images Charges continue to mount for disgraced FTX co-founder Sam Bankman-Fried, with the Commodity Futures Trading Commission unveiling new charges Tuesday against the onetime crypto billionaire, alleging that FTX commingled customer funds and that Bankman-Fried violated the Commodities Exchange Act. Follow CNBC's live blog covering Tuesday's hearing on the collapse of cryptocurrency exchange FTX before the House Financial Services Committee. related investing news SEC Chair Gary Gensler tees up changes to how the stock market operates Bob Pisani an hour ago Cramer: Apple, Amazon, Microsoft and Google will fuel the next rally — but not in the usual way Jim Cramer 2 days ago The charges came moments before prosecutors in the Southern District of New York unveiled criminal charges against Bankman-Fried, who is languishing in Bahamian jail after being seized Monday even...