Wall Street Today: Stock futures rose, Apple's market value scaled $2.5 trillion
Asia eyes steady open amid U.S. rally: Markets Wrap
Asian stocks look set for a steady open Tuesday as traders assess a technology-led rally in U.S. shares.
Asian stocks look set for a steady open Tuesday as traders assess a technology-led rally in U.S. shares.
Futures were steady for Japan and edged up for Australia and Hong Kong. U.S. contracts fluctuated after the $S&P 500 Index(.SPX.US$notched its 12th all-time high in August and the Nasdaq 100 advanced. $Apple(AAPL.US$'s market value scaled $2.5 trillion.
Facebook, Xiaomi target India's $1 trillion digital loan market
India's digital loan market is becoming a battleground for companies from $Facebook Inc(FB.US$to $XIAOMI-W(01810.HK$, as they seek a foothold in what' set to be a $1 trillion industry.
Facebook this month said India would be the first country where it rolls out its small business loan program offering loans via a partner to firms that advertise on its platform. The loans will range from 500,000 rupees ($6,720) to 5 million rupees with interest rates of 17%-20%, potentially without collateral.
Zoom hits $1 billion in quarterly revenue, but shows signs of easing growth
$Zoom Video Communications(ZM.US$quarterly revenue surpassed $1 billion for the first time in the company's history, though the strong demand for its videoconferencing services that made it ubiquitous during the pandemic is showing signs of easing as regular activities resume.
The roughly 54% increase in revenue, while slightly better than Wall Street expected, couldn't match the huge growth that Zoom had in the year-earlier period, when revenue surged fourfold compared with the prior year as companies leaned more heavily into remote working.
Robinhood stock drops after SEC chairman warns on payment for order flow
Shares of $Robinhood(HOOD.US$tumbled on Monday after the head of the Securities and Exchange Commission signaled that he was open to banning payment for order flow, a practice that accounts for most of the online brokerage's revenues.
Facebook, Xiaomi target India's $1 trillion digital loan market
India's digital loan market is becoming a battleground for companies from $Facebook Inc(FB.US$to $XIAOMI-W(01810.HK$, as they seek a foothold in what' set to be a $1 trillion industry.
Facebook this month said India would be the first country where it rolls out its small business loan program offering loans via a partner to firms that advertise on its platform. The loans will range from 500,000 rupees ($6,720) to 5 million rupees with interest rates of 17%-20%, potentially without collateral.
Zoom hits $1 billion in quarterly revenue, but shows signs of easing growth
$Zoom Video Communications(ZM.US$quarterly revenue surpassed $1 billion for the first time in the company's history, though the strong demand for its videoconferencing services that made it ubiquitous during the pandemic is showing signs of easing as regular activities resume.
The roughly 54% increase in revenue, while slightly better than Wall Street expected, couldn't match the huge growth that Zoom had in the year-earlier period, when revenue surged fourfold compared with the prior year as companies leaned more heavily into remote working.
Robinhood stock drops after SEC chairman warns on payment for order flow
Shares of $Robinhood(HOOD.US$tumbled on Monday after the head of the Securities and Exchange Commission signaled that he was open to banning payment for order flow, a practice that accounts for most of the online brokerage's revenues.
Robinhood shares closed 6.9% lower after Barron's published an interview with SEC Chairman Gary Gensler in which he said a full prohibition of payment for order flow was "on the table" as part of a broader agency review.
Wearables company Whoop valued at $3.6bn after SoftBank investment
Whoop, which makes a fitness tracker that is popular with professional athletes, reached a $3.6bn valuation following an investment from Japan's SoftBank, signalling a willingness from investors to challenge tech giants in the health monitoring business.
SoftBank's second Vision Fund led a $200m investment in Whoop, making it the most valuable standalone fitness monitoring start-up, the company said. The new funding increased Whoop’s valuation three-fold from a previous financing in October.
Warren Buffett's $2 billion Japan gain yet to lure followers a year on
Warren Buffett shocked Tokyo markets last August with a $6 billion bet on the country's five largest trading houses.
Wearables company Whoop valued at $3.6bn after SoftBank investment
Whoop, which makes a fitness tracker that is popular with professional athletes, reached a $3.6bn valuation following an investment from Japan's SoftBank, signalling a willingness from investors to challenge tech giants in the health monitoring business.
SoftBank's second Vision Fund led a $200m investment in Whoop, making it the most valuable standalone fitness monitoring start-up, the company said. The new funding increased Whoop’s valuation three-fold from a previous financing in October.
Warren Buffett's $2 billion Japan gain yet to lure followers a year on
Warren Buffett shocked Tokyo markets last August with a $6 billion bet on the country's five largest trading houses.
One year on, his investments are paying off. Amid the surge in commodity prices, the collective value of Berkshire Hathaway Inc.'s stakes in the five “sogo shosha” has risen by about $2 billion. That gain of more than 30% has outpaced the benchmark Topix index's 21% rise, and doesn't account for dividend income.
Netflix eyes more theatrical releases in bid to have 'bigger cultural impact,' JPMorgan analyst says
$Netflix(NFLX.US$is eyeing a more traditional theatrical release for some of its future films, according to a report from JPMorgan out of CinemaCon.
Analysts from the firm, who attended the movie theater industry's largest conference last week in Las Vegas, said they met with management teams from several exhibition companies who said there is a "real interest" from the streaming service to play some of its movies in cinemas for an extended period.
Analysts from the firm, who attended the movie theater industry's largest conference last week in Las Vegas, said they met with management teams from several exhibition companies who said there is a "real interest" from the streaming service to play some of its movies in cinemas for an extended period.
PayPal is exploring a stock-trading platform for U.S. customers
$PayPal(PYPL.US$is exploring a possible stock-trading platform.
$PayPal(PYPL.US$is exploring a possible stock-trading platform.
After rolling out the ability to trade cryptocurrencies last year, the payments giant has been exploring ways to let users trade individual stocks, according to two sources familiar with the plans.
The San Jose, California-based company recently hired brokerage industry veteran Rich Hagen as part of the move, according to one of the sources. After leaving Ally Invest, Hagen is now the CEO of a previously unreported division of PayPal called Invest at PayPal, according to his LinkedIn page. Hagen was the co-founder of online brokerage TradeKing, which was bought by Ally Invest.
Source: Bloomberg, Dow Jones, CNBC, Financial Times
Source: Bloomberg, Dow Jones, CNBC, Financial Times
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