US Manufacturing Mixed as Current Activity Index Hits a Two-Year Low
(Philadelphia Fed) The diffusion index gauging the current activity in the US plunged by 15 points in May to 2.6, the lowest in two years. The share of firms that…
Ethereum’s Proof of Stake Move Draws Closer as Ropsten Testnet Schedules for June
(CoinDesk) Ethereum’s Ropsten public testnet merge has been scheduled for June 8, ahead of the eventual rollout on the main network. The testnet merge is expected to give developers time…
Kohl’s Stock Falls 8% as Q1 2022 Sales Decline 5.2%
(Kohl’s) Shares of Kohl’s Corporation fell more than 8% on Thursday after reporting total revenue of $3.715 billion in the first quarter of 2022. The revenue was below $3.887 billion…
Spirit Airlines Declines $30 per Share JetBlue Offer, Cites Regulatory Hurdles
(Spirit) Spirit Airlines has for another time rejected an improved offer from JetBlue, saying it contains inaccurate statements and mischaracterizations. Spirit says the new and improved $30 per share from…
FTX Starts Testing Stock Trading with Limited Number of US Users
(WSJ) Crypto exchange FTX intends to open a new trading service on Thursday to a few users in the US. FTX’s head of the US unit said that the crypto…
Vipshop Stock Tanks 6% as First Quarter 2022 Revenues Fall to $4.0B
(Vipshop) Shares of Vipshop fell more than 6% in premarket on Thursday after reporting revenues of RMB25.2 billion or US$4.0 billion in the first quarter of 2022. The revenue was…
Euro Area Current Account Plunges into a €2B Deficit in March
(ECB) The current account deficit in the euro area was 2 billion euros in March 2022, a significant decline from the 16 billion euros surplus in the prior month. In…
Cisco Projects Lower Revenues in Q4 2022 as Third Quarter Sales Remains Come Flat
(Cisco) Cisco expects its revenue in the fourth quarter of 2022 to fall between 1% to 5.5% from the prior year. The lower revenue projection comes when sales in the…
Stifel Says Investors Can Catch Stock Bottoms Relying on Bitcoin Features
(Markets Insider) Stifel strategist Barry Bannister believes that Bitcoin is late to the capitulation in risk, pointing out that the wash-out that emerges can help spot equity bottoms. Bannister says…
Meta Files “Meta Pay” Trademarks for Digital Assets Trading and Payments
(Twitter) Meta is making further inroads into crypto, with five trademark applications for Meta Pay, a digital assets trading and payment platform. The trademarks were filed on May 13 and…
EIA Reports 3.4M Barrels Decline in US Crude Inventories
(EIA) The stockpiles of commercial crude oil in the US were 420.8 million barrels in the week that ended May 13, a decline of 3.4 million barrels from the previous…
US Housing Authorization, Starts, and Completions Fall in April as Costs Rise
(Census Bureau) The total authorized private-owned housing units stood at an annual rate of 1.819 million in April, a decline of 3.2% from March. The permits are still 3.1% higher…
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