SoFi Technologies reported strong first-quarter results, with profit and revenue surpassing expectations, but its shares fell sharply after the company issued a slightly weaker-than-expected outlook for the current quarter. The financial services firm said it expects adjusted revenue growth of around 30% in the second quarter, just below analyst estimates of 31%. The cautious guidance
Robinhood stock price slumped by over 9% in the extended hours after the blue-chip company’s earnings fell short of expectations because of the cryptocurrency slump. HOOD dropped to $74 after closing at $82 in the regular session. So, is it safe to buy the dip or sell the rip? Robinhood stock falls as earnings fall
US stocks opened lower on Tuesday, led by weakness in technology shares, as investors reassessed whether the artificial intelligence boom can sustain its momentum. The tech-heavy Nasdaq Composite fell more than 1.15%, while the S&P 500 dropped around 0.54%. In contrast, the Dow Jones Industrial Average edged higher by 110 points or 0.23%, supported by
Foreign demand for US investment-grade corporate bonds has remained strong for 15 consecutive months, according to a note by Citigroup, as cited in a Reuters reports. Overseas investors are increasingly rotating into technology, media and telecom (TMT) debt while reducing exposure to financial bonds. This trend comes despite recent concerns over rising corporate debt levels,
In a seismic shift for the global oil market, the United Arab Emirates has confirmed its exit from OPEC and OPEC+, effective May 1. The move, announced Tuesday by the country’s state news agency WAM, ends nearly six decades of membership and removes the cartel’s third-largest producer, marking one of the most consequential departures in
Standard Chartered said on Tuesday it has launched a new framework allowing institutional clients to use BlackRock’s tokenised short-term US Treasury fund as collateral on the crypto trading platform OKX. The lender has partnered with BlackRock and OKX to enable VIP and institutional clients on OKX Middle East to use the BlackRock USD Institutional Digital
Semiconductor stocks declined sharply on Tuesday, with Nvidia and its peers coming under pressure after fresh concerns emerged about the financial trajectory of OpenAI. Nvidia shares fell about 1.5% in trading, reversing some of the previous session’s gains when the stock closed at a record high after rising 4%. The chipmaker had recently broken out
Wall Street’s main indexes were muted on Monday, as stalled peace talks between the United States and Iran and rising oil prices kept investors cautious ahead of a crucial week for earnings and monetary policy. The S&P 500 slipped about 0.04%, while the Nasdaq Composite declined 0.28%. On the other hand, Dow Jones Industrial Average
Shipping data on Monday indicated that at least seven vessels, primarily dry bulk carriers, traversed the Strait of Hormuz over the last 24 hours. This level of activity is consistent with the subdued pace observed recently, occurring as talks between Iran and the United States remain stalled. According to ship tracking data from Kpler and
Arbitrum’s ecosystem is at the center of a major DeFi recovery effort, with leading protocols urging the Arbitrum DAO to unfreeze roughly 30,766 ETH (worth about $71 million) linked to the Kelp DAO exploit. With the funds now locked in a DAO-controlled address, decision-making power has effectively shifted to Arbitrum governance. DeFi players urge Arbitrum