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☆ Crypto prices gain to start the week following first Bitcoin halving since 2020
▼ + stars: | 2024-04-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Bitcoin rose slightly to start the week after the network on Friday completed its fourth ever halving, which reduces the incentives paid to bitcoin miners. The price of the cryptocurrency was last higher by 1.8% at $65,891.28, according to Coin Metrics. Shares of public cryptocurrency miners got a lift premarket Monday, after rallying into the close Friday before the halving, which took place later that day. The biggest miners, Marathon Digital and Riot Platforms , gained about 3% and 5%, respectively. CleanSpark and Iris Energy increased 3% and 4%, respectively.

Persons: CleanSpark Organizations: Metrics, Marathon, Iris Energy

☆ The Bitcoin network completes the fourth-ever ‘halving’ of rewards to miners
▼ + stars: | 2024-04-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

watch nowThe Bitcoin network on Friday evening completed its fourth "halving," reducing the rewards earned by miners to 3.125 bitcoins from 6.25. After the 2012, 2016 and 2020 halvings, the bitcoin price ran up about 93x, 30x and 8x, respectively, from its halving day price to its cycle top. Hash rates are a measure of the computational power used to process transactions on the bitcoin network. "The market so far has seen bitcoin mining stocks as mere BTC proxies, in absence of bitcoin ETFs," said Bernstein analyst Gautam Chhugani. "[The] Bitcoin halving is already partially priced in by the market and we do not expect prices to increase significantly following the halving event," the firm's Marion Laboure said in a note Thursday, adding that it "has been widely anticipated in advance due to the nature of the Bitcoin algorithm."

Persons: Reginald Smith, Bernstein, Gautam Chhugani, MARA, Nikolaos Panigirtzoglou, Marion Laboure Organizations: Metrics, JPMorgan, BTC, IRIS, Deutsche Bank Locations: Friday's

☆ JPMorgan likes these mining stocks to play the upcoming bitcoin halving
▼ + stars: | 2024-04-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

While most of the public cryptocurrency miners are positioned to survive the supply shock of the bitcoin halving, JPMorgan has named its top picks. "With the bitcoin halving on the horizon, we expect heightened volatility and trading volume in both bitcoin and mining stocks," Reginald Smith, an analyst at JPMorgan, said in a note this week. The bitcoin halving is estimated to take place in the next couple of days , and mining companies are preparing for reduced rewards revenue that will follow the event. Nevertheless, uncertainty ahead of the halving has pressured mining stocks, most of which are down double digits for the year. The halving occurs when incentives for bitcoin miners shrink to 3.125 newly created bitcoins — or about $20,000 at Thursday morning's prices — from 6.25, as mandated by the code of the bitcoin blockchain.

Persons: Reginald Smith, Smith, Iris, Iris Energy, MARA, CleanSpark, — CNBC's Michael Bloom Organizations: JPMorgan, Iris Energy, Iris

☆ Stocks making the biggest moves midday: Duolingo, JetBlue, Tesla, D.R. Horton and more
▼ + stars: | 2024-04-18 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

JetBlue Airways — Shares jumped 4.1% after JPMorgan upgraded the airline to neutral from underperform, saying it likes its turnaround potential. Barnes Group — The global industrial tech and aerospace stock jumped 9.3% after DA Davidson upgraded the company to buy from neutral, saying shares are attractive. Blackstone — The asset manager slipped 2.3% after lowering its dividend to 83 cents per share from 94 cents per share. Horton exceeded expectations in its fiscal second quarter, posting earnings of $3.52 per share on revenue of $9.11 billion. Elevance Health — Shares jumped 3.2% after the health insurance company posted an earnings beat and raised its full-year guidance.

Persons: Estee Lauder, Tesla, Emmanuel Rosner, Rosner, Davidson, Blackstone, Horton —, Horton, LSEG, Morgan Stanley, Donald Trump's, —, Samantha Subin, Brian Evans, Hakyung Kim, Lisa Kailai Han Organizations: JPMorgan, Taiwan Semiconductor Manufacturing, JetBlue Airways —, Iris Energy, Deutsche Bank, Google, Meta, Reuters, Group, Alaska Air Group, Revenue, BJ's Wholesale, eBay, — Rosenblatt Securities, Trump Media & Technology, Truth Social Locations: Taiwan, Alaska

☆ Bitcoin miners’ main revenue stream is about to be slashed. Here’s what investors need to know
▼ + stars: | 2024-04-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The bitcoin halving is set to take place in the next few days, which will cut miners' main stream of revenue in half. "We believe a bitcoin price above $60,000-$65,000 means the halving is de-risked for nearly all public miners," Needham analyst John Todaro wrote in a note to clients on Tuesday. It currently costs miners between $36,000 and $52,700 to mine a single bitcoin, Todaro said. Miners offer amplified exposure to bitcoin's price action, which has been more volatile since the launch of bitcoin ETFs introduced more leverage to the market. "That's propelled bitcoin to a threshold where the miners are really generating healthy economics," said Colonnese.

Persons: —, Needham, John Todaro, Todaro, Iris, Mike Colonnese, Wainwright, Iris Energy, bitcoin, it's, — CNBC's Michael Bloom Organizations: Marathon, Iris Energy, Cipher Mining, Miners, H.C, Iris, JPMorgan Locations: exahash

☆ Bitcoin falls for a second day as investors brace for more volatility in April
▼ + stars: | 2024-04-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin fell for a second day to start the new month and quarter, amid rising Treasury yields and strength in the U.S. dollar. Data from CryptoQuant shows a spike in that exchange's reserves, which typically signals a boost in selling activity, that coincides with the sudden drop in bitcoin price late Monday night. Crypto exchange Coinbase fell 4%, while software provider MicroStrategy , which largely trade as a proxy for the price of bitcoin, lost nearly 7%. Investors are looking toward the bitcoin halving – which will slash the reward, and therefore revenue, of bitcoin miners – in the second half of the month. The event could hurt the performance of miners but historically has set bitcoin up for rallies of 300% or more in the months that follow.

Persons: Bitcoin, Joel Kruger, Stocks, Coinbase Organizations: Metrics, U.S ., LMAX, Marathon

Cadre Holdings CEO Warren Kanders sold $50.3 million worth of stock. Ares Management CEO Michael Arougheti sold $32.7 million worth of stock. Cadence Design Systems CEO Anirudh Devgan sold $14.7 million worth of stock. AppLovin CFO Herald Chen sold about $9.5 million worth of stock. Cleanspark CEO Zachary Bradford sold nearly $9 million worth of stock.

Persons: Michael Dell, Verity Data, Mark Zuckerberg, Chan Zuckerberg, Zuckerberg, Priscilla Chan, Warren Kanders, Kanders, Jayshree Ullal, Michael Arougheti, Sytse Sijbrandij, Sijbrandij, Anirudh Devgan, Aneel Zaman, Herald Chen, Zachary Bradford Organizations: Dell Technologies, Dell, DELL, Securities and Exchange Commission, Chan Zuckerberg Initiative, Facebook, Cadre, VerityData, Arista Networks, Ares Management, Cadence Design, Herald Locations: 10b5

☆ Bitcoin jumps 7%, retakes $70,000 to start the week
▼ + stars: | 2024-03-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

MicroStrategy , which trades as a proxy for the price of bitcoin, surged 20%, while Coinbase advanced 9%. The mining sector got a lift from bitcoin, too, with Marathon Digital and Riot Platforms up 4% and 9%, respectively. Bitcoin had been in correction mode for the past week, after it hit an all-time high of $73,797.68 on March 14. Sam Callahan, lead analyst at bitcoin services firm Swan Bitcoin, said it's likely tied to the messaging coming from the Federal Reserve last week. Despite its pullbacks, bitcoin is on pace to finish March on a winning note.

Persons: CleanSpark, cryptocurrency, cryptocurrencies, Bitcoin, Alex Thorn, Thorn, Genesis, Sam Callahan, Swan Bitcoin, it's Organizations: Marathon, Mining, Metrics, Galaxy Digital, Federal Reserve, Fed

Like tech stocks, bitcoin sometimes benefits from low interest rates and improved market liquidity, which can lead to better sentiment and greater investment in growth assets. Stock Chart Icon Stock chart icon Bitcoin turns higher after two days of losses"There has been an inverse relationship between rates and bitcoin price," said Oppenheimer executive director Owen Lau. "When the Fed increased interest rates in 2022, it took out liquidity from the market, which impacted bitcoin and tech stocks. When the Fed cuts rates, it provides liquidity to the market, which should benefit risky assets such as bitcoin. The Dow Jones Industrial Average , S&P 500 and Nasdaq Composite all closed at record highs after the Fed meeting wrapped up.

Persons: Bitcoin, cryptocurrency, Cryptocurrencies, Oppenheimer, Owen Lau, It's, Ether, Solana, dogecoin, MicroStrategy, CleanSpark, bitcoin, We've, Vijay Ayyar Organizations: Getty, Metrics, Federal, Polygon's, Iris Energy, Marathon, JPMorgan, Dow Jones, Nasdaq, CNBC

☆ Stocks making the biggest moves midday: Tesla, GE HealthCare, Coinbase and more
▼ + stars: | 2024-03-13 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Crypto stocks — Stocks whose performance is tied to the price of bitcoin rose as the cryptocurrency pushed to another record for the third day in a row. Dollar Tree posted adjusted earnings of $2.55 per share on $8.64 billion of revenue for the fourth quarter. Analysts surveyed by LSEG, formerly known as Refinitiv, had penciled in $2.65 per share on $8.67 billion in revenue. GE HealthCare — Shares dropped 3% after the medtech company announced a secondary offering of 13 million shares. Analysts had expected earnings of 2 cents per share on revenue of $1.62 billion, per LSEG.

Persons: Coinbase, MicroStrategy, CleanSpark, Baird, Goldman Sachs, Wells, Raymond James, —, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Marathon, Iris Energy, Texas, Nvidia, Devices, Micron Technology —, Micron, AMD, LSEG, GE, —, GE HealthCare Technologies, General Electric, Royal, Petco, Wellness Locations: Kentucky, Royal Caribbean

☆ Stocks making the biggest moves premarket: Dollar Tree, Petco, Tesla and more
▼ + stars: | 2024-03-13 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell: Dollar Tree — Shares dropped 7% after the discount retailer posted disappointing quarterly results and announced the closure of several stores. Dollar Tree also said it plans to close nearly 1,000 stores. Texas Roadhouse — Shares gained 1.5% after Baird upgraded the restaurant chain to outperform, citing the strength of its relatively strong traffic. Eli Lilly , Amazon — Eli Lilly on Wednesday said it's partnering with Amazon Pharmacy to help deliver certain prescription drugs, including weight loss treatment Zepbound . Shares of Eli Lilly gained nearly 1%, while Amazon shares were slightly lower.

Persons: LSEG, Wells, Goldman Sachs, Bitdeer, Baird, Eli Lilly, — CNBC's Michelle Fox, Fred Imbert, Tanaya Macheel Organizations: Petco, Wellness, Royal, Marathon, Iris Energy, GE Healthcare Technologies, GE HealthCare Technologies, Texas, Amazon Pharmacy Locations: Royal Caribbean

CNBC Pro screened to find the stocks that have moved most in line with bitcoin over the last 50 trading days. We looked at the relationship between the stocks and the flagship crypto over that period, as well as the average rolling correlation over the same time period. Here are the top seven names with the highest rolling correlations: The stocks with the highest correlations should come as no surprise. Further down the list, the connections between the stocks and bitcoin are less immediately clear. The electric vehicle maker has a rolling correlation of 0.31, clinching the sixth spot on the screen.

Persons: bitcoin, QuantumScape, FactSet Organizations: CNBC Pro, Marathon, Riot

☆ Stocks making the biggest moves midday: Macy's, Super Micro Computer, Lyft, DoorDash and more
▼ + stars: | 2024-03-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Super Micro Computer , Deckers Outdoor — The technology firm and athletic footwear designer respectively popped 27% and nearly 3% after S & P Dow Jones Indices announced Friday that the two stocks would be added to the S & P 500 on March 18. Super Micro Computer and Deckers Outdoor will replace Zions Bancorpation and Whirlpool , which will move to the S & P MidCap 400 Index. Macy's — Shares skyrocketed 16% after Arkhouse Management said it and Brigade Capital Management have raised their offer for the department store . DoorDash — Shares jumped more than 5% after RBC upgraded the food delivery company to outperform from sector perform. Lyft — The ride-sharing platform added 6% after RBC upgraded the stock to an outperform rating from sector perform.

Persons: Dow, Zions, —, Lyft, Morgan Stanley, Li, Piper Sandler, Ford, CNBC's Michelle Fox, Alexander Harring, Hakyung Kim, Tanaya Macheel, Yun Li, Jesse Pound, Samantha Subin Organizations: Micro Computer, Dow Jones, Whirlpool, Arkhouse Management, Brigade Capital Management, Apple, European, Miners, Marathon Digital, Cipher Mining, Iris Energy, RBC, Kyverna Therapeutics, Wells, JPMorgan, Ferrari —, Citi, Li Auto, Dutch Bros, American Airlines —, Max Locations: Wells Fargo

☆ Stocks making the biggest moves premarket: Super Micro Computer, Deckers Outdoor, Macy's and more
▼ + stars: | 2024-03-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Super Micro Computer , Deckers Outdoor — Shares of Super Micro Computer and Deckers Outdoor jumped 12% and 5%, respectively, after S & P Dow Jones Indices said Friday the two companies would be added to the S & P 500 later this month. They will replace Whirlpool and Zion Bancorp, which will move to the S & P MidCap 400 index as of the March 18 open. Macy's — Macy's stock skyrocketed nearly 17% after Arkhouse Management upped its buyout offer for the department store chain to $24 from $21 a share, or about $6.6 billion. Crypto stocks – Companies whose performance is tied to the price of bitcoin rose in premarket trading after the cryptocurrency touched another two-year high . Spirit AeroSystems , Boeing — Shares of the fuselage maker rose nearly 3%.

Persons: Dow, CleanSpark, AeroSystems, Lyft, Morgan Stanley, Li Auto, Piper Sandler, Brian Mullan, — CNBC's Lisa Han, Fred Imbert, Tanaya, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: Micro Computer, Dow Jones, Whirlpool, Zion Bancorp, Arkhouse Management, Apple, European Commission, Marathon, Iris Energy, RBC, Boeing —, Boeing, Max, —, Citi, Li Auto, Li, Mobile

☆ Bitcoin tops $65,000 as it nears 2021 all-time high
▼ + stars: | 2024-03-04 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Earlier, it rose to as much as $65,658.10, its highest level since November 2021. The price of bitcoin rose to start the week, edging even closer to its all-time high after the rally took a breather over the weekend. "What we're seeing today ... might well be a rerun of early last week when bitcoin surged $10,000 in the space of a couple of days. Investors have been extra eager to see bitcoin approach its all-time high. Nevertheless, long-term investors are confident that the combination of increasing demand for bitcoin through the new U.S. exchange-traded funds and a tighter supply expected after the April halving event will push the price of bitcoin to a new all-time high.

Persons: bitcoin, cryptocurrency, Antoni Trenchev, Crypto, David Duong, Dogecoin, Shiba, CleanSpark Organizations: Metrics, Nasdaq, Marathon Digital, Iris Energy

☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Unity Software, Viking Therapeutics and more
▼ + stars: | 2024-02-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Norwegian Cruise Line — The cruise ship operator soared 18% on strong forward guidance. Unity expects adjusted EBITDA to range between $45 million and $50 million, versus the $113 million expected by analysts polled by FactSet. Viking Therapeutics — The clinical-stage biotech soared more than 90% after fulfilling primary and secondary endpoints in its Phase 2 GLP-1 study. Earnings came in at $1.57 per share, beating expectations of $1.47 per share, according to LSEG, formerly known as Refinitiv. Revenue of $1.92 billion matched analysts' expectations.

Persons: Viking, LSEG, Cava, Wells, Duolingo, CarGurus, — AutoZone, Microstrategy, —, Sarah Min, Michelle Fox, Alex Harring, Jesse Pound, Yun Li Organizations: Cruise, Unity Software, FactSet, Therapeutics, Hess Corporation, Chevron, Exxon Mobil, China's, Offshore Oil Corp, Hess, Bank of America Securities, Seaport Research Partners, CleanSpark Locations: Cava

☆ Stocks making the biggest moves premarket: Lyft, Robinhood, Zillow, Kraft Heinz and more
▼ + stars: | 2024-02-14 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

In its most recent quarter, Lyft posted adjusted earnings of 18 cents per share, more than the LSEG consensus estimate of 8 cents per-share earnings. Revenue of $1.22 billion was in line with analysts' expectations. Robinhood Markets — Shares of Robinhood soared roughly 16.5% after the investing platform beat on earnings and revenue for the fourth quarter. Kraft Heinz — Shares declined more than 1% after the food company posted fourth-quarter revenue that missed expectations. However, adjusted earnings of 78 cents per share was a slight beat, compared to the 77 cents earnings per share expected by analysts.

Persons: Lyft, Robinhood, Angi, DaVita, FactSet, Kraft Heinz —, Kraft Heinz, Akamai, GoDaddy, SentinelOne, bitcoin, Microstrategy, Airbnb, Bernstein, Topgolf, LSEG, It's, — CNBC's Brian Evans, Alex Harring, Tanaya Macheel, Jesse Pound, Pia Singh, Samantha Subin Organizations: LSEG, FactSet, Akamai, Wall, Bank of America, Miners Iris Energy, Marathon Digital, MGM Resorts, Topgolf Callaway, Topgolf Callaway Brands, JPMorgan Locations: LSEG, China, U.S, Detroit

☆ Stocks making the biggest moves midday: Uber, Airbnb, MGM Resorts, Robinhood and more
▼ + stars: | 2024-02-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Uber — Uber's shares jumped 11%, climbing to a new 52-week high, after the ride-hailing company announced an inaugural $7 billion share repurchase authorization program. The higher end of the company's full-year earnings per share guidance, $11.40, was also above estimates of $10.83 per share. On Tuesday, DaVita posted earnings of $1.87 per share, ex-items, on $3.15 billion in revenue. Robinhood Markets — Shares of the trading platform jumped 9% after the company posted a surprise earnings and revenue beat. Robinhood posted earnings of 3 cents per share, while analysts expected a 1 cent per share loss, according to LSEG.

Persons: Uber, Uber's, Lyft, IQVIA, Charles River, DaVita, FactSet, Robinhood, Zillow, LSEG, bitcoin, Energy rocketed, CleanSpark, Topgolf Callaway, Akamai, Kraft Heinz, Airbnb, CNBC's Hakyung Kim, Alex Harring, Jesse Pound, Pia Singh, Michelle Fox Organizations: Uber Technologies, Inc, IQVIA Holdings, Charles River Laboratories, Revenue, Miners, Energy, Marathon, MGM Resorts, Hasbro Locations: New York City, FactSet, LSEG, China, Macau, U.S, Detroit

☆ Stocks making the biggest moves midday: JetBlue Airways, Shopify, Biogen and more
▼ + stars: | 2024-02-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Shopify — The e-commerce company saw shares slide more than 10% after it gave a mixed forecast for the current quarter. The company did beat fourth-quarter earnings and revenue estimates. Arista Networks — The computer networking stock fell 4% despite topping fourth-quarter estimates. Marriott International — The hotel chain stock declined 5.7% after missing fourth-quarter revenue estimates. Biogen — The biotechnology stock slumped more than 6% after missing Wall Street's fourth-quarter estimates as revenue and profit declined from a year ago.

Persons: WK Kellogg, Shopify, Goldman Sachs, Marriott's, ZoomInfo, Carl Icahn, Wall, Tripadvisor, Horton, Lennar, Bruker, Microstrategy, CleanSpark, —, Macheel, Samantha Subin, Yun Li, Sarah Min, Alex Harring Organizations: Arista Networks, Marriott, ZoomInfo, —, LSEG, JetBlue Airways —, Hasbro, &, Toll, Cadence, Systems, Cadence Design Systems, Miners, Iris Energy

☆ Stocks making the biggest moves premarket: PepsiCo, Cloudflare, Pinterest, Expedia and more
▼ + stars: | 2024-02-09 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Cloudflare — Shares surged 27% after the cloud services provider topped analysts' expectations in its fourth quarter. Cloudflare reported adjusted earnings of 15 cents per share on revenue of $362 million. Expedia reported earnings of $1.72 per share on revenue of $2.89 billion, higher than the $1.68 on $2.88 billion analysts had expected. Illumina — Shares dropped 4% even after the company reported fourth-quarter results that topped expectations, according to FactSet consensus estimates. Take-Two also reported adjusted earnings of 71 cents per share, slightly missing the FactSet consensus estimate for 72 cents earnings per share.

Persons: Cloudflare, LSEG, Pinterest, Expedia, Peter Kern, Ariane Gorin, CleanSpark, ClearnSpark, Illumina, Bill Holdings, Bill, — CNBC's Michelle Fox Lisa Kailai Han, Jesse Pound Organizations: PepsiCo, Revenue, Pepsi, FactSet . Revenue, United Airlines —, ISI, Newell, Newell Brands, FactSet

☆ Stocks making the biggest moves midday: Pinterest, Cloudflare, PepsiCo, Expedia and more
▼ + stars: | 2024-02-09 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Late Thursday, Pinterest posted fourth-quarter revenue that disappointed Wall Street, but beat on earnings, per LSEG. The company reported earnings of 14 cents per share, while analysts had expected a loss of 26 cents per share, according to FactSet. On Thursday, Expedia reported $21.7 billion in bookings, while analysts surveyed by LSEG were expecting $22 billion. PepsiCo — Shares fell nearly 3% after the beverage and snacks giant's fourth-quarter revenue missed expectations. Enphase Energy , First Solar and more – Solar stocks leapt on Friday, boosting the Invesco Solar ETF (TAN) by 3%.

Persons: Pinterest, Wall, CleanSpark, Expedia, LSEG, Cloudflare, Bill Holdings, Bill, SolarEdge, —, Macheel, Pia Singh, Jesse Pound, Michelle Fox, Lisa Kailai Han, Darla Mercado Organizations: Revenue, Bank of America, PepsiCo —, LSEG, Pepsi, Wall, Bill, Bill Holdings, Lam Research, Semiconductor, Materials, Nvidia, Enphase Energy Locations: FactSet

☆ Stocks making the biggest moves after hours: Pinterest, Take-Two Interactive, Expedia and more
▼ + stars: | 2024-02-08 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in extended trading. Pinterest — Shares slid 6% in extended trading after the image-sharing company issued a weaker-than-expected forecast. Take-Two Interactive Software — Shares dropped almost 7% in extended trading after the video game publisher issued a disappointing forecast for the current quarter. Take-Two also slightly missed earnings estimates, with an adjusted 71 cents a share versus expected earnings of 72 cents a share per FactSet. Cloudflare – The cloud services provider jumped 18% in extended trading.

Persons: Pinterest, Expedia, Ariane Gorin, CleanSpark, Illumina, Cloudflare, Tanaya Macheel Organizations: Business, Revenue Locations: FactSet

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCleanSpark extends rally after announcing plan to buy four mining facilities: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Jess Houlgrave, COO of WalletConnect, discusses the recent growth of stablecoins and potential for regulation around the globe.

Persons: explainers, Jess Houlgrave Organizations: CNBC Crypto, CNBC, WalletConnect

☆ Stocks making the biggest moves midday: Palantir, Spotify, UPS, DocuSign and more
▼ + stars: | 2024-02-06 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

In its second quarter, the materials company posted earnings of 36 cents per share, greater than the 26 cents per share anticipated by analysts polled by StreetAccount. In its fourth quarter, the company posted adjusted earnings of 87 cents per share, compared to guidance of 85 cents to 87 cents in earnings per share. The company said it was committed to announcing a $3.5 billion share buyback for the first half of the year. The insurance service company reported adjusted earnings of $7.44 per share, topping the FactSet consensus estimate of $7.05 in earnings per share. Analysts polled by FactSet were expecting earnings of $1.08 per share on revenue of $1.24 billion.

Persons: Li, Willis Towers Watson, Gil Shwed, DocuSign, FactSet, Rambus, — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Yun Li, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: LSEG, StreetAccount, GE HealthCare Technologies, FactSet, Li Auto, Deutsche Bank, Spotify Technology, DuPont de Nemours, BP —, BP, Simon Property Group, Simon Property, United Parcel Service, UBS, Software Technologies, UBS — U.S, FMC Locations: StreetAccount ., FactSet ., Mississippi, Dalton , Georgia, Dalton, Swiss

☆ CleanSpark jumps on plans to buy four bitcoin mining facilities ahead of the halving
▼ + stars: | 2024-02-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin miner CleanSpark climbed on Tuesday after the company said it will acquire new mining facilities that will give it the power and infrastructure to potentially double its hashrate within the first half of the year. At one point, the stock rose as high as 10.8%, also helped by a midday rise in the price of bitcoin . The company agreed to buy three "turnkey" sites — meaning they need only to plug their existing hardware into the facility — in Mississippi for $19.8 million in cash. Additionally, CleanSpark plans to acquire a facility in Dalton, Georgia, for an initial cash payment of $3.4 million. "Our operations in Georgia have given us significant experience in southeastern power markets.

Persons: CleanSpark, Zachary Bradford Organizations: CNBC Locations: Mississippi, Dalton , Georgia, Dalton, Georgia

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