Deutsche Bank, Activision, Block, Scholastic, Ouster and many more market drivers

UBS (UBS), the bank that bought Credit Suisse for about $3 billion, fell 0.9% after being downgraded to Hold from Buy by Jefferies analysts. Activision Blizzard (ATVI) rose 5.9% after the UK Competition and Markets Authority said it no longer feared Microsoft (MSFT) would use its $68.7 billion deal to video game maker hooks Call … Read more

Bitcoin rises with $30,000 in sight. The weekend could bring some wild moves.

Bitcoin and other cryptocurrencies were gaining on Friday after a volatile but dynamic week. However, Saturday and Sunday promise to be a challenge for crypto traders, with a lack of liquidity in the markets likely to exacerbate price swings. The price of Bitcoin has risen 1.5% in the past 24 hours to $28,100, bringing it … Read more

Deutsche Bank shares tumble in latest sign of banking concerns

Last updated: March 24, 2023 at 5:39 a.m. ET First published: March 24, 2023 at 5:10 a.m. ET Shares of Deutsche Bank tumbled on Friday, putting the health of another global systemically important bank in the spotlight ahead of the weekend. Shares of German lender XE:DBK fell 8% in Frankfurt trade and the Euro Stoxx … Read more

Regional banks are attracting attention, but concerns are more widespread, says former top regulator

Regional banks shouldn’t be the only cause for concern over the potential fallout from the rapid pace of Federal Reserve interest rate hikes over the past year, a former top banking regulator said. “I don’t see regional banks as having a particular problem,” said Sheila Bair, who ran the Federal Deposit Insurance Corp. from 2006 … Read more

Crypto will be “finished” in the US if Coinbase loses the battle with the SEC. here’s why

Good morning! Welcome to Distributed Ledger. Meet Frances Yue, crypto reporter at MarketWatch. Coinbase crypto exchange PIECE OF MONEY said Wednesday that he received a Wells notice from the Securities and Exchange Commission, which could lead to formal charges. The SEC’s Wells notice related to an unspecified portion of the exchange’s listed digital assets, its … Read more

Nvidia stock posts best winning streak since 2007 as AI advantage slammed ‘insurmountable’

Nvidia Corp. is in a unique position to benefit from what is being called an artificial intelligence revolution, analysts say, as the chipmaker’s stock hit its best winning streak since 2007 on Wednesday. At Nvidia NVDA annual GTC developer conference, the gaming chip specialist has rolled out a slew of hardware and software products designed … Read more

GameStop Stock Soars Nearly 50% on Surprise Quarterly Profit and Increased Sales

Shares of GameStop Corp. jumped 48% in Tuesday’s extended session after the specialty retailer reported a surprise quarterly profit and sales above Wall Street expectations. The retailer is “aggressively focused on improving year-over-year profitability while pursuing pragmatic long-term growth,” Chief Executive Matt Furlong said on the company’s call after the results. GameStop EMG earned $48.2 … Read more

First Republic fears drive shares of other regional banks down sharply

First Republic Bank worked overtime on Sunday to reassure customers it was safe to operate after the collapse of Silicon Valley Bank last week sparked fears of contagion in the banking sector. But its stock plunged nearly 50% ahead of Monday’s open despite attempts to reassure customers of the strength of its business. Early Sunday … Read more

Signature Bank, compatible with cryptocurrencies, closed by regulators

Last updated: March 12, 2023 at 7:22 p.m. ET First published: March 12, 2023 at 6:35 p.m. ET State authorities shut down New York-based Signature Bank SBNY on Sunday after regulators shuttered Silicon Valley Bank on Friday in the biggest bank failure since the 2008 financial crisis. All Signature Bank depositors will be compensated, according … Read more

Saudi Aramco posts record $161 billion profit for 2022

Saudi Arabia’s national oil company posted a record $161 billion annual profit for 2022, the largest ever by an energy company, bolstering the kingdom’s coffers as it seeks to showcase its trade and foreign policy ambitions global markets and to limit its heavy dependence on oil. Saudi oil Co. 2222 1.23% known as Aramco, said … Read more