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Dow climbs 316 points as US stocks snap 2-day losing streak

Peter Tuchman, right, works among fellow traders at a post on the floor of the New York Stock Exchange, Wednesday, March 4, 2020. AP Photo/Richard Drew US stocks surged on Wednesday with the Dow up more than 300 points, snapping a two-day losing streak.Investors bought the early morning dip in stocks, which was in part spurred by weak earnings results from Netflix.The video-streaming company said it expects the slowest quarter of subscriber growth in history.Sign up here for our daily newsl...
Tags: Finance, US, Trends, Markets, Netflix, Manchester United, Juventus, Trading, New York Stock Exchange, Stock Market, Dow Jones, S&P 500, Libra, Cnbc, Dow Jones Industrial Average, Jpmorgan


Luminar Technologies jumps 21% after it hires Tesla's general counsel as chief legal officer

Luminar Palo Alto Data Collection Luminar Luminar Technologies soared as much as 21% on Wednesday after it hired the former general counsel of Tesla.Alan Prescott will join the self-driving car company as its chief legal officer, Luminar said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Shares of Luminar Technologies soared as much as 21% on Wednesday after it hired Alan Prescott, the former general counsel of Tesla, as its chief legal officer.Alan Prescott will ...
Tags: Twitter, Elon Musk, Trends, Markets, Tesla, Stock Market, Movers, SPAC, Matthew Fox, LUMINAR, Luminar Technologies, Alan Prescott, Luminar SPAC, Stock Market 2021, MI Exclusive, Luminar Stock Price


Bitcoin could plunge 50% from current levels after rising too much, too fast, says Guggenheim's Scott Minerd

Guggenheim Partners' Scott Minerd. Lucy Nicholson/Reuters "I think we could pull back to $20,000 to $30,000 on bitcoin," Guggenheim's Scott Minerd told CNBC on Wednesday. Bitcoin's price recently ran up to record highs close to $65,000 per token. Minerd remains long-term bullish on the cryptocurrency whose price he sees eventually hitting as high as $600,000. See more stories on Insider's business page. Bitcoin's price is due for a plunge after its swift run-up to re...
Tags: Trends, Markets, Tesla, Bitcoin, Crypto, Cryptocurrencies, Btc, Cnbc, Guggenheim, Guggenheim Partners, Carla Mozee, Guggenheim Securities, Bitcoin Price, Scott Minerd, Minerd, Guggenheim Bitcoin


AI startup UiPath jumps 26% during its public debut, pushing valuation to $37 billion

UiPath CEO Daniel Dines UiPath Shares of UiPath jumped as much as 26% on Wednesday, bringing its valuation to $37 billion at intraday highs. The rally indicates the growing demand for automated services, especially during the pandemic. But an analyst said the company has to do more than being "just a little better in an existing market." See more stories on Insider's business page. Shares of UiPath jumped as much as 26% on Wednesday during its public debut at the New York Stock Exchan...
Tags: Microsoft, Ipo, Trends, Startup, Markets, Software, Automation, New York Stock Exchange, Stock Market, Kleiner Perkins, Battery Ventures, BUCHAREST Romania, Dharmesh Thakker, UiPath, Daniel Dines, Isabelle Lee


Coinbase faces delisting on 2 European exchanges over reference code error

Coinbase made its trading debut on Nasdaq this month. SOPA Images/Getty Images Coinbase shares may be delisted from two European exchanges because of a coding error. "A correct LEI code is a regulatory requirement for admission to trading in Europe," said trading system Xetra. The situation can be remedied with an application for an LEI, said Xetra. See more stories on Insider's business page. Coinbase shares face delisting this week from two European trading venues run by Deutsche B...
Tags: Europe, US, Trends, Markets, Frankfurt, Bitcoin, Crypto, Nasdaq, Coinbase, Rosenblatt Securities, Frankfurt Stock Exchange, Deutsche Borse, Carla Mozee, Deutsche Boerse, Crytocurrencies, Coinbase Global Inc


Intuitive Surgical jumps past $100 billion market value as 1st-quarter earnings report trounces even the most bullish forecasts

HRAUN/Getty Images Intuitive Surgical jumped 9.8% to a record high after crushing first quarter earnings. The robotic surgery company's valuation pushed past $100 billion for the first time. Declining COVID-19 cases led to an increase in procedures using Intuitive's surgical devices. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Shares of Intuitive Surgical jumped as much as 9.8% on Wednesday to a record high of $891.15 after the robotic surgery comp...
Tags: Europe, US, Trends, Markets, Ubs, Taylor, Da Vinci, Sunnyvale California, Matthew Taylor, ISRG, Intuitive Surgical, COVID, Emily Graffeo, MI Exclusive, Intuitive Surgical stock price, ISRG stock price


The 'dishonest' son of a Russian oligarch must pay his mom $100 million as part of the UK's largest divorce case

Temur Akhmedov, son of Russian billionaire Farkhad Akhmedov and Tatiana Akhmedova, arrives at the Rolls Building in London on December 11, 2020 for a hearing regarding his parents' 450 million GBP divorce settlement. Tolga Akmen/AFP/Getty Images The son of a Russian oligarch involved in a divorce case will need to pay $100 million to his mother. Temur Akhmedov lost a court ruling over his role in hiding assets from his mother. A London judge said Temur is a "dishonest individual who w...
Tags: UK, London, Trends, Markets, Bloomberg, Tatiana, Temur, Tolga Akmen, Russian Oligarchs, Farkhad Akhmedov, Tatiana Akhmedova, Farkhad, Emily Graffeo, Temur Akhmedov, Rolls Building, MI Exclusive


Doge Day hangover: Dogecoin falls 18% after breakneck rally sends meme cryptocurrency soaring

Dogecoin is a 'meme' cryptocurrency, seemingly created as a joke. Yuriko Nakao/Getty Dogecoin fell 19% on Wednesday, the day after its supporters celebrated 'Doge Day.' Nonetheless, the meme asset was up a remarkable 390% over 14 days. But analysts have warned that investors could get burned by a price crash. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Dogecoin fell 18% on Wednesday after the meme cryptocurrency touched an all-time high of clos...
Tags: Elon Musk, Trends, Markets, Moon, Doge, Hargreaves Lansdown, Cryptocurrencies, Gamestop, Dogecoin, Slim Jim, OANDA, Harry Robertson, Kraken Exchange, Edward Moya, Susannah Streeter, Dogecoin Price


There were no new SPAC debuts last week for the first time since March 2020, as signs point to the end of the blank-check craze

A trader at the New York Stock Exchange. JOHANNES EISELE/AFP via Getty Images The air may be coming out of the SPAC market, with last week marking the first week of 0 new debuts since March 2020, said Bespoke Investment Group. The firm said 20 holdings in the SPAK ETF have lost roughly 50% or more since mid-February. 308 SPACs have raised $99.7 billion so far this year, according to SPAC Analytics. See more stories on Insider's business page. The boom in SPACs, or blank-check firms ...
Tags: Hong Kong, Trends, Markets, House, Paul ryan, SEC, Stocks, Bill Ackman, Stock Market, Serena Williams, Alex Rodriguez, Securities And Exchange Commission, Draftkings, Chamath Palihapitiya, SPAC, Bespoke Investment Group


Investors should buy the post-earnings dip in Netflix as long-term growth story remains intact, Wall Street analysts say

Natalia Dyer and Charlie Heaton play Nancy Wheeler and Jonathan Byers, respectively, on Netflix's "Stranger Things." Netflix Netflix fell as much as 8% on Wednesday after the company's first-quarter earnings missed analyst estimates.But investors should buy the dip in the video-streaming giant as its long-term growth story remains intact, according to two Wall Street analysts.Netflix has a long runway "to increase its market share from linear TV and is in a strong position to contin...
Tags: Wall Street, Trends, Markets, Bank Of America, Netflix, Trading, Stock Market, Stifel, NFLX, BofA, Netflix Netflix, Matthew Fox, Charlie Heaton, Natalia Dyer, Jonathan Byers, Nancy Wheeler


Bitcoin's momentum will see an ugly end as regulation kicks in and countries are no longer about to ignore its huge carbon footprint, an investment adviser says

Costfoto/Barcroft Media via Getty Images Bitcoin prices will come crashing down due to two major risks, one investment advisor said. Threat of regulation and impact on the climate will burst its bubble, Stephen Isaacs told CNBC. "This is a very dirty product, and it's getting dirtier by the minute," he said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bitcoin has ushered in a movement hailed by investors for its ability to decentralize the financial syste...
Tags: London, US, Trends, Markets, Investment, Bank Of America, Bitcoin, Treasury, Crypto, Cambridge University, Cnbc, Cryptocurrency, Kraken, Isaacs, Dogecoin, Crypto Investing


Bitcoin's momentum will slow for months if it's unable to quickly climb back above the crucial $60,000 level - and 2 main hurdles stand in its way, JPMorgan says

Bitcoin replica coins are seen on November 13, 2017. Jaap Arriens/NurPhoto via Getty Images A decay in momentum could represent a big problem for bitcoin, JPMorgan said in a Tuesday note.A steep liquidation in bitcoin futures contracts has transpired over recent days, suggesting future weakness in the cryptocurrency."The challenge for bitcoin momentum in the current conjecture is to break above $60,000," JPMorgan said.Sign up here for our daily newsletter, 10 Things Before the Opening Bell....
Tags: Trends, Markets, Bitcoin, Crypto, Trading, Jpmorgan, Matthew Fox, Bitcoin Price, Jaap Arriens NurPhoto, Analyst Notes, BTC price, Bitcoin Analysis, Bitcoin Outlook, Bitcoin price analysis, MI Exclusive


US stocks edge lower as earnings fail to impress investors

Traders work on the floor of the New York Stock Exchange (NYSE) on November 20, 2019 in New York City Spencer Platt/Getty Images US stocks fell on Wednesday as weaker-than-expected earnings from Netflix weighed on tech.The video-streaming company said it expects the slowest quarter of subscriber growth in history.The company's slowing growth as the pandemic recedes could be emblematic of the tech sector going forward.Sign up here for our daily newsletter, 10 Things Before the Opening Be...
Tags: US, Trends, Markets, Netflix, Manchester United, Juventus, Stock Market, S&P 500, Libra, Cnbc, Dow Jones Industrial Average, Nyse, Jpmorgan, European Super League, New York Stock Exchange NYSE, Matthew Fox


Doge Day hangover: Dogecoin falls 20% after breakneck rally sends meme cryptocurrency soaring

Dogecoin was started as a joke in 2013. Yuriko Nakao/Getty Images Dogecoin fell 20% on Wednesday, the day after its supporters celebrated "Doge Day". Nonetheless, the meme asset was up a remarkable 380% over 14 days. But analysts have warned that investors could get burned by a price crash. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Dogecoin fell 20% on Wednesday after the meme cryptocurrency touched an all-time high of close to $0.42 the previous day in the ...
Tags: Elon Musk, Trends, Markets, Moon, Doge, Hargreaves Lansdown, Cryptocurrencies, Gamestop, Dogecoin, Slim Jim, OANDA, Harry Robertson, Kraken Exchange, Edward Moya, Susannah Streeter, Yuriko Nakao Getty


Luminar's stock could gain 40% as it racks up partnerships for its autonomous vehicle lidar technology, BofA says

Luminar Palo Alto Data Collection Luminar Bank of America initiated coverage of Luminar Technologies with a "neutral" rating and $23 price target. That's a roughly 40% gain from current levels, though BofA noted Luminar's distant production start-date is a risk to the stock. Luminar Technologies uses laser sensors, called lidar, that enable autonomous driving. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Luminar Technologies appears to be a leader in n...
Tags: Trends, Markets, Bank Of America, Volvo, BofA, SAIC, LUMINAR, Luminar Technologies, Aileen Smith, Emily Graffeo, LAZR stock price, Luminar SPAC, MI Exclusive, Luminar Stock Price, Luminar stock, LAZR price target


Dow tumbles 257 points as spike in COVID-19 cases spurs economic-recovery concern

Traders work on the floor of the New York Stock Exchange. Bryan R. Smith / AFP via Getty Images The S&P 500 and the Dow Jones Industrial Average suffered their second straight losses on Tuesday. COVID-19 cases worldwide have risen by more than 10% over the past week. Nike dropped on the Dow but IBM was a winner. See more stories on Insider's business page. US stocks dropped Tuesday, with their grip on record highs further loosening as investors worry about the prospects for global e...
Tags: Apple, Japan, UK, China, India, US, Trends, Markets, Nike, Tesla, Alaska, Argentina, Stocks, Ibm, US Treasury, West Texas Intermediate


JPMorgan's quant guru says traders are missing an opportunity to buy high-upside stocks pegged to the economic reopening

Noam Galai/Getty Images Investors are underestimating the imminent move higher in cyclical stocks that are poised to benefit from a reopened economy, according to JPMorgan.A staggered global economic recovery from the COVID-19 pandemic will prolong the reopening trade, JPMorgan's Marko Kolanovic said in a Tuesday note."As the COVID-19 recovery takes place, reopening, reflation and inflation themes, and value likely will significantly outperform growth and defensives," Kolanovic said.Si...
Tags: Europe, US, Trends, Markets, Stock Market, Jpmorgan, Tom Lee, Matthew Fox, Noam Galai Getty, Marko Kolanovic, Kolanovic, Stock Market Outlook, Stock Market Analysis, Analyst Note, Reopening Trade, Stock Market 2021


Johnson & Johnson jumps as vaccine shipments to Europe set to resume after regulator says benefits outweigh blood clot risks

A nurse loads a syringe with a dose of Johnson & Johnson's COVID-19 vaccine in Athens, Ohio. Stephen Zenner/SOPA Images/LightRocket via Getty Images Johnson & Johnson shares climbed Wednesday after a European regulator found an overall benefit of the drug maker's COVID-19 vaccine. The European Medicines Agency did find a possible link between the vaccine and the 'rare' side effect of blood clots. J&J said it will resume shipment of its Janssen vaccine to the European Unio...
Tags: Europe, US, Trends, Markets, European Union, Athens, Iceland, Johnson, Johnson Johnson, J J, European Medicines Agency, Janssen, Carla Mozee, Blood Clots, Paul Stoffels J J, Johson


Healthcare stocks are the most shorted as sector faces increasing regulatory scrutiny, report says

Apple's Eyes Studio/Shutterstock The health care sector has become the most heavily shorted in the US equity market, says S&P Global Market Intelligence. Among the healthcare cohort, biotech shares made up the bulk of the most-shorted stocks at the end of March. The healthcare sector has risen this year but is lagging gains on the S&P 500 index. See more stories on Insider's business page. The health care sector has emerged as the most heavily shorted in the US stock market, in...
Tags: US, Trends, Markets, Biden, Stock Market, Biotech Stocks, S&P 500, Esperion Therapeutics, Clovis, Inovio Pharmaceuticals, Carla Mozee, Global Market Intelligence, Clovis Oncology, Drug Prices, Healthcare Stocks, Esperion


Playboy is up 143% since going public via SPAC this year as the adult lifestyle brand lures investors with pivot to NFTs

Playboy covers are seen on display at the "Playboy Exposed" Private View at the Sony Ericsson Proud Camden on October 19, 2005 in London, England. David Westing/Getty Images Shares of Playboy's owner PLBY have surged roughly 143% since the company's public debut in February. Playboy is partnering with NFT marketplace Nifty Gateway to offer investors a chance to buy fractional shares of Playboy's archival artwork. Playboy went private in 2011 but reemerged with a focus on lifes...
Tags: Trends, Markets, Playboy, SPAC, NFT, Pablo Picasso Salvador Dalí, Nifty Gateway, Emily Graffeo, Kari McMahon, PLBY, MI Exclusive, PLBY Group, Playboy stock price, PLBY stock, PLBY stock price, Playboy NFT


Lumber prices have soared 230% in the last year, pushing timber and homebuilding ETFs to record highs

Justin Sullivan/Getty Images Lumber's 230% 12-month rally has pushed timber and homebuilding ETFs to record highs. The iShares Global Timber & Forestry ETF has climbed 89% in the last year, Bloomberg first reported. While the triple-leveraged Direxion Daily Homebuilders & Supplies Bull 3X Shares fund has surged roughly 100% year-to-date. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Lumber has staged an incredible rally in the last year and is taking exchan...
Tags: Trends, Markets, Bloomberg, Wood, Justin Sullivan Getty, Nail, Lumber, Emily Graffeo, Lumber Prices, MI Exclusive, Lumber futures, Lumber Shortage, Spot lumber prices, Lumber ETFs, WOOD ETF, NAIL ETF


Kansas City Southern surges 16% after $34 billion offer from Canadian National sparks bidding war

Getty Images MATHEISL Kansas City Southern surged as much as 16% on Tuesday after it received a competing $34 billion take-over bid from Canadian National.Canadian National's deal is well above Canadian Pacific's, which had offered $25 billion for the railroad operator in late March. Canadian National's $325 per share offer represents a 27% premium from Kansas City Southern's Monday close.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Kansas City S...
Tags: Trends, Markets, Missouri, National, Stock Market, Pacific, Railroads, Movers, United States Mexico, Canadian Pacific Railway, KCS, Canadian Pacific, Kansas City Southern, Canadian National, Matthew Fox, Stock Market 2021


Dogecoin continues to trade near record highs as fans hail 'Doge Day' amid 600% monthly surge

Chris Graythen/Getty Images Dogecoin continued to trade near record highs of $0.41 Tuesday morning, after a 670% gain in April. Supporters of the meme coin were celebrating April 20 as 'Doge Day' online after the stellar rally. Yet many analysts have predicting that buyers will get burned by a sharp drop in the cryptocurrency. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Dogecoin continued to trade around record highs on Tuesday, as supporters of the m...
Tags: Trends, Markets, Bitcoin, Cryptocurrencies, Gamestop, Kraken, Skilling, Dogecoin, Nigel Green, Ether, Harry Robertson, deVere Group, Dogecoin Price, Opening Bell Dogecoin, MI Exclusive, DOGE-USD


Altria extends losses as Biden administration considers forcing cigarette makers to slash nicotine levels

Nopphon_1987/Shutterstock Shares of Altria fell Tuesday following a report that the Biden administration wants cigarette makers to reduce nicotine levels. The administration is also considering a ban on menthol cigarettes to curb smoking among young people, The Wall Street Journal reported. Shares of British American Tobacco and Imperial Brands also lost ground. See more stories on Insider's business page. Shares of Altria shares stretched losses early Tuesday following a report th...
Tags: Tobacco, Smoking, US, Trends, Markets, Fda, Cigarettes, Nicotine, Parliament, Biden, Wall Street Journal, Journal, British American Tobacco, Camel, Newport, Altria


3 Ethereum ETFs will start trading today in Canada as crypto fever continues

Dado Ruvic/Reuters Canada's first-mover advantage in bitcoin ETFs is set to continue with ethereum ETFs.Three different pure-play ethereum ETFs are set to start trading in Canada on Tuesday.The first bitcoin ETFs in North America began trading on the Toronto Stock Exchange earlier this year.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The first ever ethereum ETFs are set to begin trading on the Toronto Stock Exchange in Canada on Tuesday as the cryptocurrenc...
Tags: Finance, US, Trends, Markets, Canada, Crypto, Trading, Fidelity, North America, Ethereum, ETH, Toronto Stock Exchange, US Securities and Exchange Commission, Dogecoin, Matthew Fox, Ontario Securities Commission


US stocks slump as global COVID-19 cases increase

John Moore/Getty Images The S&P 500 and the Dow Jones Industrial Average continued their slide from last week's record highs. Stocks were lower with COVID-19 cases on the rise worldwide and the US State Department set to issue a stark travel advisory. Wall Street's VIX "fear gauge" was advancing. See more stories on Insider's business page. Stocks moved lower Tuesday, edging away further from their strongest levels on record on widening concerns about rising COVID-19 cases ...
Tags: Apple, Japan, UK, India, US, Trends, Markets, Alaska, Argentina, Stock, S&P 500, United Airlines, Dow Jones Industrial Average, Eastern, Allianz, US State Department


Dogecoin hits all-time high as fans hail 'Doge Day' amid 600% monthly surge

Dogecoin is a cryptocurrency based on the Doge meme. Yuriko Nakao/Getty Images Dogecoin rose to an all-time high close to $0.42 Tuesday before paring its gains slightly. Supporters of the coin were celebrating April 20 as 'Doge Day' online after a 600% monthly rally. Yet many analysts have predicting that buyers will get burned by a sharp drop in the cryptocurrency. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Dogecoin rose to an all-time high close to ...
Tags: Trends, Markets, Bitcoin, Hargreaves Lansdown, Cryptocurrencies, Kraken, Streeter, Dogecoin, Ether, Harry Robertson, Susannah Streeter, Dogecoin Price, Opening Bell Dogecoin, MI Exclusive, DOGE-USD, Yuriko Nakao Getty Images Dogecoin


UK unemployment rate slips unexpectedly to 4.9% in February, but payroll numbers fall ahead of reopening

Britain entered a tough new lockdown in January Nathan Stirk/Getty Images The UK unemployment rate unexpectedly fell to 4.9% in the 3 months to the end of February. But the number of employees on payrolls dropped by 56,000, data showed. The UK is gradually reopening the economy, boosted by a rapid vaccine rollout. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The UK unemployment rate fell unexpectedly in the three months to the end of February, data showed on Tu...
Tags: UK, Trends, Markets, Economy, Britain, Global Economy, Office For National Statistics, UK Economy, Capital Economics, James Smith, ING, Harry Robertson, Thomas Pugh, Nathan Stirk Getty, Reopening, UK Jobs


A hedge fund pointed out the ridiculousness of a New Jersey deli trading at a $100 million valuation. Now the newly minted meme stock is popping as trading volumes explode.

Drew Angerer/Getty Images A New Jersey deli with a $100 million valuation flew under the radar until Greenlight Capital's David Einhorn pointed to the company as a sign of excess in his quarterly letter.Prior to Einhorn's letter, Hometown International was a rarely traded stock on the over the counter exchange.But with increased attention from Einhorn's letter, trading volume in Hometown International is surging, only adding to the absurdity that Einhorn was trying to emphasize...
Tags: Trends, Markets, New Jersey, Stock Market, Hedge Fund, Gamestop, Hometown, David Einhorn, Einhorn, Greenlight Capital, Dogecoin, Matthew Fox, Angerer Getty, Stock Market 2021, MI Exclusive, Hometown International


Clean Energy Fuels soars 27% on a deal with Amazon to supply renewable natural gas

Craig Ruttle/AP Clean Energy Fuels shares climbed 27% during Monday's session after reaching a renewable natural gas supply deal with Amazon. The company will supply Amazon's delivery trucks with natural gas at up to 46 Clean Energy fueling stations. Clean Energy granted to Amazon a warrant to purchase more than 53 million of its shares. See more stories on Insider's business page. Shares of Clean Energy Fuels jumped Monday following an agreement to supply renewable natural...
Tags: Amazon, Trends, Markets, Canada, Clean Energy, Delivery Trucks, Craig Ruttle, Boone Pickens, Carla Mozee, Clean Energy Fuels, Amazon Logistics, Littlefair, Renewable Gas, Fuel Stations, MI Exclusive, Clean Fuels Energy