Author: Jeffery Carter

Stripe announced a tender offer for employees and shareholders on Thursday that values the payments startup at $91.5 billion, the closest the company has been to its peak valuation of $95 billion in 2021.”We very much care about providing good liquidity for employees and existing shareholders,” Stripe co-founder and President John Collison told CNBC’s Andrew Ross Sorkin in an interview on “Squawk Box.”As for the company’s long-awaited public market debut, Collison said, “We are not dogmatic on the public vs. private question,” and “have no near-term IPO plans.”Stripe also revealed in its annual letter on Thursday that it generated $1.4 trillion…

picture alliance / Contributor / Getty Images Axon Enterprise posted fourth-quarter earnings that topped analysts’ estimates. The Taser maker also offered a strong outlook on demand for its defense products. Axon shares soared following the results and have nearly doubled in value over the last year. Axon Enterprise (AXON) shares soared Wednesday on the company’s better-than-expected earnings and strong outlook on growing demand for its Taser 10 weapon, portable cameras, and premium subscriptions. The defense products manufacturer posted adjusted fourth-quarter earnings per share (EPS) of $2.08, above analysts’ estimates compiled by Visible Alpha. Revenue jumped 33.6% year-over-year to $575.1 million,…

This week, Sakana AI, an Nvidia-backed startup that’s raised hundreds of millions of dollars from VC firms, made a remarkable claim. The company said it had created an AI system, the AI CUDA Engineer, that could effectively speed up the training of certain AI models by a factor of up to 100x. The only problem is, the system didn’t work. Users on X quickly discovered that Sakana’s system actually resulted in worse-than-average model training performance. According to one user, Sakana’s AI resulted in a 3x slowdown — not a speedup. What went wrong? A bug in the code, according to…

The air traffic control tower at Ronald Reagan Washington National Airport in Arlington, Virginia.Saul Loeb | AFP | Getty ImagesElon Musk said Thursday that he’s sending his Starlink satellite internet terminals to the Federal Aviation Administration while saying, without providing evidence, that current technology poses a risk to air travel safety.The billionaire and top advisor to President Donald Trump, who has been tasked with cutting costs throughout the federal government, posted the claims on his social media platform, X.Executives at major airlines told CNBC on Thursday that they do not see risks to air travel safety because of the FAA’s…

Former Gov. Andrew Cuomo, D-N.Y., arrives for a closed-door interview with the House Oversight and Accountability Subcommittee on Coronavirus Pandemic about New York’s response to COVID-19, at O’Neill building in Washington, D.C., on Tuesday, June 11, 2024. Tom Williams | Cq-roll Call, Inc. | Getty ImagesAndrew Cuomo officially launched his bid to be the next mayor of New York City, attempting a comeback in politics after the former New York governor’s high-profile resignation in 2021.Cuomo, who left his previous post because of a damning sexual harassment scandal, announced his candidacy on Saturday against Mayor Eric Adams, a fellow Democrat who faces bribery…

South Africa beat England by seven wickets in Lahore to reach Champions Trophy semifinals while eliminating Afghanistan.Rassie van der Dussen scored 72 not out off 87 balls to lead South Africa into the semifinals of the Champions Trophy by beating bottom-of-the-table England by seven wickets. Van der Dussen’s half-century highlighted South Africa’s clinical performance on Saturday as it finished atop Group B ahead of Australia in second and Afghanistan, who are now eliminated, in third. The Proteas finished with 181-3 in 29.1 overs in reply to England’s hapless effort of 179 all out (38.2 overs). This was after England –…

Check out the companies making headlines before the bell: Domino’s Pizza — Shares fell more than 3% after the pizza chain reported fourth-quarter numbers that missed expectations. The company earned $4.89 per share on revenue of $1.44 billion. Analysts polled by FactSet expected a profit of $4.90 per share on revenue of $1.48 billion. U.S. same-store sales, a key metric for the company, increased 0.4%. That was also below a consensus forecast calling for a 1.1% advance. Nike — Shares popped 2% on the back of Jefferies’ upgrade to buy from hold. Jefferies said the athletic apparel maker is turning…

Elon Musk and President Donald Trump in the Oval Office at the White House, Feb. 11, 2025.Andrew Harnik | Getty Images News | Getty ImagesAs the so-called Department of Government Efficiency looks to cut federal spending, Elon Musk and President Donald Trump have floated the idea that some of any savings could come back to Americans in the form of $5,000 dividend checks.But experts say it’s too soon to say whether such checks could materialize — and caution that if they did, there could be economic consequences for consumers.How ‘DOGE dividend’ proposal came to beBoth Musk and Trump boosted a…

Patrick Collison, chief executive officer and co-founder of Stripe Inc., left, smiles as John Collison, president and co-founder of Stripe Inc., speaks during a Bloomberg Studio 1.0 television interview in San Francisco, California, U.S., on Friday, March 23, 2018. Bloomberg | Bloomberg | Getty ImagesStripe has once again shown why sometimes it’s better to be private.During a February sell-off for fintech stocks, Block plunged 28%, its steepest decline since 2023, alongside drops of 20% or more for PayPal and Coinbase and a 8% slide in shares of SoFi. Meanwhile, Stripe on Thursday announced a tender offer for employee shares at a…

(Bloomberg) — Two short sellers released reports on AppLovin Corp., touching off a record intraday rout of as much as 23% in shares of 2024’s best performing technology stock. Most Read from Bloomberg Shares of AppLovin, which provides marketing services to app developers, pared some of those losses to close down 12% Wednesday, shedding nearly $17 billion in market value as investors unwound some of the blistering rally that saw shares rise eight fold last year. The stock was briefly halted for a volatility pause. Fuzzy Panda and Culper Research both published short reports against the company, just days after…