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Evercore ISI reiterates Tesla as in line Evercore ISI lowered its price target on Tesla to $145 per share from $155. Barclays upgrades AT & T to overweight from equal weight Barclays sees "growth quality" for the telecommunications and wireless provider. Barclays downgrades Lululemon to equal weight from overweight Barclays downgraded the maker of athleisure wear due to rising competition. "We initiate coverage of Dave Inc. with a Market Outperform rating and $70 price target representing ~65% upside from the current price." "We are upgrading GWW from EW to OW, while raising our price target from $1,000 to $1,250."
Persons: Evercore, Tesla, Jefferies, LUV, Lululemon, LULU, Dave, Oppenheimer, Instacart, Bernstein, Goldman Sachs, William Blair, Eastman, Morgan Stanley, Berenberg, Melius, Price, Stephens, Grainger Organizations: Airlines, Jefferies, Southwest Airlines, Dynamics, Barclays, Dave Inc, JPMorgan, CART, Apple, Eastman Chemical, Arista Networks, Nvidia, Data, Citi Locations: Americas, China, Tulsa , Oklahoma, Kingsport , Tennessee
Mark Cuban-backed fintech Dave says no customers exposed to FTX
  + stars: | 2022-11-17 | by ( ) www.reuters.com   time to read: +1 min
Nov 17 (Reuters) - Entrepreneur Mark Cuban-backed Dave Inc (DAVE.O) said on Thursday none of its customers were exposed to FTX and it has not launched any products in partnership with the beleaguered cryptocurrency exchange. FTX had invested $100 million in the fintech in March, through FTX ventures, to expand Dave's digital assets offerings and the company had said FTX US would be its exclusive partner for crypto. "We have not launched any products in partnership with FTX and no customers are exposed through Dave," the company spokesperson said in an emailed statement to Reuters. FTX filed for bankruptcy protection in the United States on Friday in the highest-profile crypto blowup to date, after traders pulled billions from the platform in three days and rival exchange Binance abandoned a rescue deal. Reporting by Manya Saini in Bengaluru and Saeed Azhar in New York; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
The valuations of listed financial technology firms have plunged 70% in 2022, analysts at Jefferies Group said in a note last week. The Columbus, Ohio regional bank is scouring for more targets after it bought Torana, a payments fintech, in May. PNC Financial Services Inc (PNC.N) in September bought Linga, a fintech focused on restaurant operations and sales. The slide in fintech valuations coincides with banks earning more from traditional lending businesses as interest rates rise. Fintech deals enable banks to buy new technology or products instead of developing them in-house.
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