Eurozone’s Growth Remains above Average Despite Easing from April
(S&P Global) Eurozone’s Composite Output Index was recorded at 54.9 in May, down from 55.8 in April. The index marked a two-month low, but took growth to a fifteenth straight…
Snap Crashes 28% After CEO Warns It May Miss Revenue and Earnings Estimates
(SEC) Snap shares declined more than 28% in premarket on Tuesday after CEO Evan Spiegel warned it might report revenue and adjusted EBITDA below the low end of previous guidance.…
Coinbase Nets “Thousands of Tokens’ After Integrating BNB Chain and Avalanche
(Coinbase) Coinbase has announced that its wallet’s list now supports BNB Chain and Avalanche, bringing the number of the total supported wallets to four. Coinbase says that the expanded support…
Zoom Stock Jumps After Raised Guidance Following Earnings Beat in Q1 2022
(Zoom) Shares of Zoom Video Communications rose more than 6% in premarket on Tuesday after its first-quarter earnings came at $1.033 per share. Despite being lower than $1.32 per share…
XPeng Stock Crashes 7% as Q2 2022 Revenue Guidance Disappoints
(Xpeng) Shares of XPeng fell more than 7% on Monday after second-quarter revenue guidance of RMB6.8 billion to RMB7.5 billion missed estimates of RMB8.14 billion. Xpeng’s stock was also weighed…
Didi Global Shareholders Approve NYSE Delisting
(Didi) Didi Global Inc. says it will proceed with the company's plan to exit the New York Stock Exchange after 96% of shareholders favored the move in a vote. Didi…
BofA Announces $22 Per Hour Minimum Wage, Targets Hourly $25 Pay in 3 Years
(Bank of America) Bank of America has increased its minimum pay per hour to $22 from $21, effective at the end of June. The bank says the latest increment sets…
ECB’s 8-Year Negative Rate Experiment to End in September, Says Lagarde
(ECB) The European Central Bank President Christine Lagarde says the monetary authority will lift the negative interest rates to zero by the end of September. Lagarde says that the move…
GameStop Jumps Nearly 3% After Launching a Digital Asset Wallet
(GameStop) Shares of GameStop rose almost 3% on Monday after announcing the launch of a wallet to support cryptocurrencies and NFTs. GameStop said that the digital asset wallet will let…
BNP Paribas Enters the Fixed Income Trading Using Blockchain Technology
(FT) French lender BNP Paribas has reportedly joined Wall Street peer JPMorgan in using digital tokens for trading in fixed income markets. BNP will use JPMorgan’s blockchain tech platform Onyx…
VMware Jumps 19% on Reports Chipmaker Broadcom Eyes a $50B Deal
(FT) Shares of software group VMware rose more than 19% in premarket on Monday on reports US chipmaker Broadcom was in talks to acquire it for $50 billion. The deal…
Germany’s Business Confidence Defies Geopolitical Tensions to Rise in May
(Ifo Institute) The ifo business climate index of Germany’s economy was recorded at 93.0 points in May, up from 91.9 points in April. A gauge of expectations also came better…
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