Author: Jeffery Carter
Marco Bello | AFP | Getty ImagesBlock shares plunged 18% on Friday, their steepest drop since 2020, after the company reported fourth-quarter earnings that missed estimates and issued guidance for 2025 that failed to reassure investors.In its financial report late Thursday, Block reported earnings of 71 cents per share, falling short of the average analyst estimate of 87 cents, according to LSEG. Revenue of $6.03 billion also missed expectations of $6.29 billion. The company posted $2.31 billion in gross profit for the quarter, a 14% increase year over year, but slightly below consensus estimates.The stock closed at $68.35 and is…
Tensions are running high in the AI world this week after Elon Musk made a staggering $97.4 billion bid to buy OpenAI, a move that would mark one of the largest tech acquisitions in history — if it actually happens. OpenAI’s CEO Sam Altman shut down the notion fast, even going so far as to fire back with a post suggesting he’d buy X for a tenth of the price. But Musk’s bid itself does raise questions about potential roadblocks ahead for the company’s conversion into a for-profit. With some comparing the tech-world clash to the Kendrick vs. Drake feud,…
Sopa Images | Lightrocket | Getty ImagesBluebird Bio will sell itself to private equity firms Carlyle and SK Capital for about $30 million, the company said Friday, marking the end of the Bluebird’s fall from the one of the buzziest biotech firms to one that was on the cusp of running out of money.Bluebird’s shareholders will receive $3 per share with the possibility of getting another $6.84 a share if Bluebird’s gene therapies reach $600 million in sales in any 12-month period by the end of 2027. Bluebird shares closed at $7.04 on Thursday. They fell 40% on Friday after…
New York City Mayor Eric Adams attends a press conference at the 40th precinct, in the Bronx borough of New York City, New York, U.S., Feb. 20, 2025. Jeenah Moon | ReutersA New York judge on Friday said he would not immediately dismiss Eric Adams’ corruption case, but ordered the Democratic New York City mayor’s trial delayed indefinitely after the Justice Department asked him to dismiss charges.In a written ruling, U.S. District Judge Dale Ho in Manhattan said he would appoint an outside lawyer, Paul Clement of the law firm Clement & Murphy PLLC, to present arguments against the prosecutors’ bid to dismiss to…
Dmitry Bivol defeats Artur Beterbiev in a split-points decision to claim light-heavyweight world title in Saudi Arabia.Russian Dmitry Bivol avenged a previous defeat to take the undisputed light-heavyweight world title from Artur Beterbiev on a majority points decision in an epic rematch in Saudi Arabia. The judges scored Sunday’s fight in Riyadh 114-114, 116-112 and 115-113. The previous encounter last October, when both went toe-to-toe as unbeaten champions, ended with exactly the same score but to Russian-born Canadian Beterbiev who added the WBA belt to his WBC, WBO and IBF ones. This time, Bivol, 34, was better on the night,…
Oil prices edged higher on Wednesday amid oil supply disruptions in the U.S. and Russia and as markets awaited clarity on the Ukraine peace talks.Bloomberg | Bloomberg | Getty ImagesOil prices held near a one-week high on Wednesday on worries about supply disruptions in Russia and the U.S., while the market awaited clarity on sanctions as Washington has been trying to broker a deal to end the war in Ukraine.Brent futures rose 20 cents, or 0.3%, to settle at $76.04 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 40 cents, or 0.6%, to settle at $72.25.That was the…
People take pictures of the U.S. Treasury Department building in Washington, D.C., on Feb. 6, 2025.Mandel Ngan | AFP | Getty ImagesThe Treasury Department has set a new deadline of March 21 for millions of businesses to fulfill a new reporting requirement on “beneficial ownership information,” after a court order allowed the federal agency to start enforcing the measure.The Corporate Transparency Act, which Congress enacted in 2021, requires small businesses to disclose the identity of people who directly or indirectly own or control the company. The measure aims to prevent criminals from hiding illicit activity conducted through shell companies or…
WASHINGTON – It’s like clockwork: Most weekday afternoons, whether he’s due to speak to the press or not, President Donald Trump summons reporters. The Trump Hour is about to begin.Since returning to office Jan. 20, Trump has used lengthy televised gab sessions − packaged as executive order signings − to make himself ubiquitous to Americans, shooting from the hip on question after question and dominating the news.The flood of orders, and the verbal provocations that accompany them, are part of an early strategy to overwhelm the system with aggressive policy changes and command the national conversation through brute administrative force, Trump…
Ben Zhou, chief executive officer of ByBit, during the Token2049 conference in Singapore, on Thursday, Sept. 14, 2023. Joseph Nair | Bloomberg | Getty ImagesBybit, a major cryptocurrency exchange, has been hacked to the tune of $1.5 billion in digital assets, in what’s estimated to be the largest crypto heist in history.The attack compromised Bybit’s cold wallet, an offline storage system designed for security. The stolen funds, primarily in ether, were quickly transferred across multiple wallets and liquidated through various platforms.”Please rest assured that all other cold wallets are secure,” Ben Zhou, CEO of Bybit, posted on X. “All withdrawals are…
Flowserve (FLS) Reports Q4: Everything You Need To Know Ahead Of Earnings Flow control equipment manufacturer Flowserve (NYSE:FLS) will be reporting results tomorrow after market hours. Here’s what investors should know. Flowserve met analysts’ revenue expectations last quarter, reporting revenues of $1.13 billion, up 3.5% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS and adjusted operating income estimates. Is Flowserve a buy or sell going into earnings? Read our full analysis here, it’s free. This quarter, analysts are expecting Flowserve’s revenue to grow 3% year on year to $1.20 billion,…