Robinhood posts $423 million net loss, shares sink after hours

Robinhood reported a net loss of $423 million or $0.49 per share in the three months ended December. A year earlier, which was before its IPO, the company posted net income of $7 million or $0.01 per share. Shares of Robinhood sank as much as 15% to $9.98 in extended trading following results. The share … Read more

Fed signals intent to join the great central bank stimulus exit

Euro, Hong Kong dollar, US dollar, Japanese yen, pound and Chinese 100 yuan bills are seen in this illustration, January 21, 2016. REUTERS/Jason Lee/Illustration/File photo Sign up now for FREE unlimited access to Reuters.com Check in LONDON, Jan 27 (Reuters) – The US Federal Reserve kicked off 2022 with a clear message: rates will rise … Read more

Dow futures rise 200 points as market set to wrap up a wild week, Apple shares pop

Stock futures rose in overnight trading on Thursday, buoyed by a jump in Apple shares, as Wall Street looks to end a roller-coaster week on a high note. Dow Jones Industrial Average futures gained 200 points. S&P 500 futures were up 0.8% and Nasdaq 100 futures were up 1.3%. Apple shares rose nearly 5% in … Read more

All U.S. Trial Convictions in Crisis-Era Libor Rigging Have Now Been Overturned

WASHINGTON—A federal appeals court reversed the convictions of two former Deutsche Bank AG Traders found guilty of rigging a global lending benchmark, overturning one of the US government’s highest-profile court victories linked to the 2008 financial crisis. The decision Thursday dealt with a blow to the legacy of an investigation that Washington poured resources into … Read more

Apple Posts Record Quarterly Results Despite Parts Shortages

Manzana inc. AAPL -0.29% posted record quarterly results Thursday even as supply shortages hindered sales, and Chief Executive Tim Cook said those constraints are improving. The iPhone maker had previously cautioned that sales growth in the important holiday quarter would be affected in the period as tech and auto industries face parts shortages, in particular … Read more

Robo-advisor disruption of Wall Street wealth is not working out

A Wall Street sign is pictured outside the New York Stock Exchange amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York, April 16, 2021. Carlo Allegri | Reuters The fintech disruption of the status quo in financial services is for real. Robinhood and SoFi made it through to initial public offerings … Read more

Stocks fall again as investors weigh G.D.P. report with fears of higher interest rates.

Stocks fell for the third straight day on Thursday, continuing the week’s volatile trading, as investors reviewed new data on the state of the economy and priced in their worries about the Federal Reserve’s plan to raise interest rates. The S&P 500 dipped 0.5 percent, flirting with correction territory for the third day this week. … Read more

Musk’s bets on Tesla: human-like robots and self-driving cars

The interior of a Tesla Model S is shown in autopilot mode in San Francisco, California, U.S., April 7, 2016. REUTERS/Alexandria Sage/File photo Sign up now for FREE unlimited access to Reuters.com Check in Jan 27 (Reuters) – Tesla’s most important products this year and next won’t be cars, Chief Executive Elon Musk said on … Read more

Many stores expect to offer free government-issued N95 masks this week

White House officials pledged last week to make 400 million certified N95 masks available to Americans for free in an effort to shore up the nation’s defenses against COVID-19. But consumers may have to shop around to get their hands on one. Major pharmacy chains said they expect to start distributing the free face coverings … Read more