LUNA Crashes to $4.51 as Dollar Peg Worsens
LUNA token exchanged hands at $4.51 as of 3:40 a.m. ET on Wednesday, representing a decline of 85% in just 24 hours. The slide was related to a further worsening…
Top Lenders Citi, BNY Mellon, and Wells Fargo Dip into Crypto With Talos Funding
(FT) Citigroup, BNY Mellon, and Wells Fargo are showing more digital asset embrace after participating in a $105 million funding round for crypto tech firm, Talos. The Series B financing…
Peloton’s Loss in Q3 2022 Comes Almost Three Times Worse Than Projected
(Peloton) Peloton reported a net loss of $757.1 million in the third quarter of 2022, almost three times worse compared to expectations of a $266.5 million loss. The loss widened…
Novavax Loses a Quarter of Value as Missed Earnings Cloud a Profitable Quarter
(Novavax) Shares of Novavax fell more than 25% in premarket on Tuesday after reporting adjusted earnings per share of $2.56 in the first quarter of 2022. The earnings missed expectations…
US Small Business Optimism Remained at 2020 Lows in April
(NFIB) The NFIB optimism index that gauges confidence among the small business owners held at 93.2 in April, the lowest in two years. Concerns about stagflation held back the small…
Biohaven Pharmaceutical Soars 72% on Premium $11.6B Deal by Pfizer
(Pfizer) Shares of Biohaven Pharmaceutical rose more than 72% in premarket on Tuesday after news Pfizer will acquire it for $11.6 billion in cash. The deal values Biohaven at $148.50,…
Upstart Stock Plunges 45% as Revenue Guidance Disappoint
(Upstart) Shares of Upstart Holdings fell more than 45% in premarket on Tuesday after guiding a revenue of $295 million to $305 million in the second quarter of 2022. The…
AMC Stock Jumps 5% As Q1 2022 Results Beat Estimates
(AMC) Shares of AMC rose more than 5% in premarket on Tuesday after reporting revenues of $785.7 million in the first quarter of 2022. The revenue was a rise from…
Luna and UST Withdrawals Frozen on Binance as Market Turmoil Continues
(Binance) Binance has temporarily suspended withdrawals of LUNA and UST tokens, citing high levels of transaction volume. The move by Binance happens a day after UST lost peg against the…
Median 1-Year Inflation Expectations Fall in April, but Uncertainty Holds High
(New York Fed) The median inflation expectations over the next year in the US fell to 6.3% in April from 6.6% in March. The median three-year inflation expectations still rose…
Rivian Plunges 17% After Reports Ford and Other Firms Are Selling Stake
(Bloomberg) Shares of Rivian Automotive Inc. fell more than 17% on Monday after reports emerged that Ford was selling its 8 million shares in the company at a discount. The…
Palantir Stock Nosedives 15% After Mixed Q1 2022 Results
(Palantir) Shares of Palantir fell more than 15% in premarket on Monday after posting a profit of 2 cents per share, missing expectations of 4 cents per share. The missed…
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