NYCB reignites banking industry, commercial real estate fears
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 7, 2024. Brendan Mcdermid | Reuters Embattled lender New York Community Bank disclosed a litany of financial metrics in the past 24 hours in a bid to soothe skittish investors. But one of the most crucial resources […]
Opinion: Etsy drifts further away from its roots with first Super Bowl ad
Etsy Inc., once known as a quirky marketplace for handmade, artisanal and vintage items, seems to be moving further away from its origins amid a much tougher e-commerce landscape and the impact of AI. Etsy ETSY, +4.83% will be marketing to a whole new audience on Sunday, when its first Super Bowl commercial will run. […]
YouTube stars help NFL bring in more viewers, league says
YouTuber Deestroying and NFL Commissioner Roger Goodell presenting at YouTube’s Brandcast in May 2023. Credit: YouTube YouTube bet big on the NFL to boost its subscriber base, and content creators have been key to that push. After YouTube committed $2 billion per year to secure the rights to NFL Sunday Ticket, YouTube TV grew from […]
Amazon’s stock just racked up its highest close in more than two years
Amazon.com Inc. shares continued their charge higher Friday, securing their highest close in more than two years. The e-commerce giant’s stock advanced 2.7% in Friday’s session to finish the day at $174.45. That was the best ending level since Dec. 9, 2021, when Amazon’s stock AMZN, +2.71% closed at $147.17, according to Dow Jones Market […]
Temu returns to Super Bowl 58 with new commercial
Jakub Porzycki | Nurphoto | Getty Images Temu, the controversial Chinese e-commerce giant looking to take on Amazon, is returning to the big game on Sunday with a Super Bowl ad that lawmakers are calling on Paramount Global and CBS not to run. The company, owned by PDD Holdings, skyrocketed to prominence last year after […]
JPMorgan Chase, Wells Fargo cut overdraft revenue to $2 billion in 2023
Pedestrians pass a JPMorgan Chase bank branch in New York. Michael Nagle | Bloomberg | Getty Images The three biggest American retail banks collected 25% less overdraft revenue last year as the companies, under pressure from regulators to cap the fees, created new ways for customers to avoid the penalties. JPMorgan Chase, Wells Fargo and […]
Affirm’s stock is sinking. Here’s why debating its valuation may be ‘fruitless.’
Affirm Holdings Inc.’s stock had run up about 125% in the three months before its latest earnings report. That sort of rally helped set the bar “too high,” according to an analyst. Thus, while Affirm AFRM, -13.21% beat expectations with its fiscal second-quarter results Thursday, Wall Street was perhaps disappointed by an outlook for the […]
PepsiCo (PEP) Q4 2023 earnings
Pepsi bottles are seen at the grocery store in Las Vegas, United States on November 17, 2023. Jakub Porzycki | Nurphoto | Getty Images PepsiCo on Friday reported mixed quarterly results as North American demand for its food and drinks weakened. Shares of the company fell more than 2% in premarket trading. Here’s what the […]
Opinion: Citi missed executive’s elder fraud for 9 years. What else could we be missing?
You may think that if your mom’s money is being handled by a financial advisor at a world-famous, blue-chip bank, she would at least be safe from outright fraud, right? Think again. The most astonishing thing about the case of former Citibank C, -0.46% vice president Helen Caldwell, who has just pled guilty to fraud, […]
Spirit Airlines (SAVE) Q4 2023 earnings
Spirit Airlines‘ CEO said Thursday the domestic market is improving and defended the budget airline’s ability to generate cash even without an acquisition by JetBlue Airways, which a federal judge blocked earlier this year. Spirit expects to lose money in the first quarter, however, and said it projects revenue of between $1.25 billion and $1.28 […]
