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☆ Applied Materials dominate their space and nothing has structurally changed, says Mizuho's Rakesh
▼ + stars: | 2024-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApplied Materials dominate their space and nothing has structurally changed, says Mizuho's RakeshVijay Rakesh, Mizuho managing director, joins 'The Exchange' to discuss why Applied Materials moved lower in Friday's session, if there's reason to be concerned about the performance of semiconductors, and the fate of electric vehicles in the United States.

Persons: Mizuho's Rakesh Vijay Rakesh, Mizuho Organizations: Materials Locations: United States

Citi lowered its price target on Micron Technology ahead of earnings. The analyst downgraded the solar photovoltaic system stock to underperform from hold and lowered its price target to $17 per share from $27. The firm upgraded the biotechnology stock to buy from hold and raised its price target to $150 per share from $95. The firm initiated coverage of the personal computing and technology stock with an outperform rating and a $135 per share price target. "Shopify holds a significant advantage in the social ecommerce space, with its breadth of direct social media integrations that are crucial for social ecommerce," Ball added.

Persons: Jefferies downgrades SolarEdge Jefferies, Dushyant Ailani, Brian Evans, BioNTech Jefferies, Jefferies, BioNTech, Akash Tewari, Vijay Rakesh, DELL, — Brian Evans, Dominic Ball, Ball, Shopify, Christopher Danely, Danely, Fred Imbert, ~$ ( ~ $ ~$) Organizations: CNBC, Tuesday, Citi, Micron Technology, Jefferies, BNT327, Mizuho, Dell, Mizuho Securities, Micron, MU Locations: Europe, 2024E, China, Monday's

While keeping his outperform rating, Vijay Rakesh chopped $10 off his price target to $145. The Oreo maker should see above-average earnings growth, Jordan said, and the stock itself is a high-quality core holding. — Alex Harring 5:50 a.m.: UBS lays out earnings expectations for Nvidia UBS is remaining bullish on Nvidia heading into the artificial intelligence giant's earnings report. Analyst Timothy Arcuri reiterated his buy rating and $150 price target heading into earnings expected later this month. His price target of $23, up from $20, implies a gain of 28.3% over the next 12 months.

Persons: Piper Sandler, Vijay Rakesh, Rakesh, Alex Harring, Shaun Kelley, Kelley, — Alex Harring, Eli Lilly, Eli Lilly's, James Shin, Shin, Jefferies, Samad Samana, Samana, Goldman, Goldman Sachs, Mills, Leah Jordan, Jordan, Kraft Heinz, Timothy Arcuri, Arcuri, Patrick Moley, Morley, HOOD, Fred Imbert Organizations: CNBC, UBS, Mizuho, Micron, Seagate Technology, Western, Bank of America, Gaming, Consumer, Terre Haute, Kentucky Derby, Deutsche Bank, Par Technology, Jefferies, Conagra Brands, Hershey, Nvidia UBS, Nvidia Locations: Churchill, Northern, Northern Virginia, Kentucky, Robinhood

☆ I took my kids to Dubai for our first international trip. It would've been better if we'd avoided these 4 mistakes.
▼ + stars: | 2024-07-20 | by ( Rebecca Vijay | ) www.businessinsider.com time to read: +4 min

Read previewMy husband and I recently traveled to Dubai with our two kids and his mother on our first international trip together as a family. AdvertisementOur trip to Dubai could've been way better if we hadn't made these common mistakes. AdvertisementWe thought the kids would love Dubai Dolphinarium, a massive family entertainment space filled with aquatic animals. When we checked online for tickets during our trip, the only ones available were for dates three months away. AdvertisementWe should've packed comfier walking shoesWe walked a lot throughout our trip to Dubai, probably 8,000 to 10,000 steps each day.

Persons: —, NurPhoto, Louvre Abu, we'd, Tullio Puglia Organizations: Service, Euromonitor International, Business, Legoland, of, FIFA Locations: Dubai, Legoland Dubai, Louvre, Tullio

But Mizuho expects things will play out differently, and instead raises its price target on the electric vehicle maker, citing challenges with its robotaxis. Morgan Stanley stands by Starbucks, keeping it at an overweight, but lowering its price target. Fong's $155 price target suggests shares can jump another 19.3% over Thursday's closing level, building on a year of monster gains. Analyst Doug Anmuth hiked the mega-cap technology stock's price target by $100 to $750, now implying 14.9% upside from Thursday's close. While he upped his price target by $50 to $197, that fresh target reflects a drop of 18.3%.

Persons: Morgan Stanley, Cody Acree, Acree, — Alex Harring, Jon Tower, Chipotle, Alex Harring, BTIG, Marvin Fong, Fong, Carvana, CarMax, Doug Anmuth, Anmuth, Anmuth's, that's, he's, Christina Cheddar Berk, Vijay Rakesh, Rakesh, Joseph Spak, Spak Organizations: CNBC, UBS, Starbucks, JPMorgan, Netflix, Nvidia, Citi, Harbour, Tesla, robotaxis, Bloomberg Locations: Thursday's, premarket, China

☆ Anant Ambani and Radhika Merchant wedding: Celebrity guests arrive for lavish star studded ceremony
▼ + stars: | 2024-07-12 | by ( Oscar Holland | Leah Dolan | ) edition.cnn.com time to read: +8 min

Attendees dressed the part, streaming past photographers in custom sarees, lehengas and kurtas at an event that may set forthcoming trends in Indian wedding fashion. A lavish affairThe Ambani family has remained tight-lipped about proceedings in the build-up to Friday’s wedding, though rumors about the guest list and the identity of star performers have swirled in recent weeks. The celebrated couturier produced bespoke outfits for various members of the Ambani family throughout the month-long wedding celebrations. Sujit Jaiswal/AFP/Getty ImagesIt is not known precisely how much money the Ambani family has spent on the pair’s wedding celebrations. The weekend schedule concludes seven months of build-up to what has been described India’s wedding of year.

Persons: Anant Ambani, Radhika Merchant, Kim, Khloé Kardashian, Nick Jonas, Priyanka Chopra, Tony Blair, Rajinikanth, Sanjay Dutt, Ram Nath Kovind, Anant’s, Mukesh, John Cena, Francis Mascarenhas, Law Roach, Cherie Blair, Nick Jonas sparkled, sequins, Jonas, Prabal Gurung, Khloé, Nita Ambani, “ reimagine, Abu Jani Sandeep Khosla, Vijay Kumar, Monika Maurya, Ambani, Manish Malhotra, ”, Justin Bieber, haldi, Viren, Shaila Merchant, Anat Ambani, Mukesh Ambani, Nita, Sujit Jaiswal, Devanshi Zaveri, Jenica Kothari, It’s, …, —, Mark Zuckerberg, Bill Gates, Ivanka Trump, Rihanna, Pitbull, Isha, Anand Piramal Organizations: CNN, British, team, Reliance Industries, Forbes, Reuters Former British, Reuters International, New York Fashion, Brown University, Reliance, Encore Healthcare, Backstreet Boys, Beyoncé Locations: Mumbai, Varanasi, India’s Uttar Pradesh, AFP, ”, Antilia, Europe

In a few days, bankrupt Tokyo-based bitcoin exchange Mt. Disbursements will be in a mix of bitcoin and bitcoin cash, an early offshoot of the original cryptocurrency. Gox — short for "Magic: The Gathering Online Exchange" — was once the largest spot bitcoin exchange globally, claiming to handle around 80% of all global dollar trades for bitcoin. Gox users would likely translate to huge sales in bitcoin as investors look to lock in gains. Vijay Ayyar, head of consumer growth for Asia-Pacific at crypto exchange Gemini, said that the overall impact of the Mt.

Persons: Omer Taha Cetin, that's, Disbursements, bitcoin, Gox, —, John Glover, Glover, James Butterfill, bitcoin's, Gemini, Lennix Lai, Butterfill, Bitcoin, Jacob Joseph, Joseph, Alex Thorn, Thorn, Vijay Ayyar, Gox disbursement, Ayyar Organizations: Anadolu, Getty, CNBC, bitcoin, Barclays, CoinShares, Gemini, JPMorgan, Arkham Intelligence, Analysts, U.S . Securities, Exchange, Federal Reserve Locations: Tokyo, Gox, Mt, bitcoin, Asia, Pacific

☆ Planning for retirement? These stocks make 'great long-term investments,' according to the pros
▼ + stars: | 2024-06-18 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

But investors with a greater risk appetite or a longer runway to retirement can consider stocks. CNBC Pro asked the experts what stocks they would buy that are suited to long-term investing for retirement purposes. Dziubinski named three stocks which she says look undervalued but will make "great long-term investments" at current prices. Starbucks Dziubinski says Starbucks ' brand and pricing power have earned it a wide economic moat rating, which according to the firm refers to a company's durable competitive advantage. Wheaton Precious Metals Regal Point Capital's Marolia named Wheaton Precious Metals as a stock with long-term potential.

Persons: Susan Dziubinski, Dziubinski, Vijay Marolia, Morningstar, Marolia, it's, Wheaton, we've, we're Organizations: Morningstar, CNBC Pro, Regal Point, Consumer, Johnson, Brands, Nike Nike, Nike, Wheaton Precious, Wheaton Precious Metals, Blackstone Group

☆ India’s scorching heat and lack of water leave Delhi’s poor to suffer worst of climate crisis
▼ + stars: | 2024-06-01 | by ( Esha Mitra | ) edition.cnn.com time to read: +5 min

New Delhi CNN —There’s no fresh water in the slums of Delhi’s Chanakyapuri neighborhood. She tried to run back for it – but it was too late, the water had run out. Residents in Delhi’s Chanakyapuri neighborhood clamber to get water under baking heat on May 31, 2024. As record heat grips northern India, the Delhi government has been forced to ration these free water deliveries. But if they get to the hospital late and the intervention is late, the mortality rate is so high.

Persons: New Delhi CNN —, Shah, Vijay Bedi, ”, it’s, Poonam Shah, Ram Manohar Lohiya, Ajay Shukla, Anupam Nath, ” Dr Shukla, Kali Prasad, aren’t, Farwa Aamer, Aamer Organizations: New, New Delhi CNN, CNN, Indian Meteorological Department, Ram, “, Workers, Asia Society Policy Institute Locations: New Delhi, Delhi’s Chanakyapuri, India, Delhi, Guwahati, South Asia

☆ Nvidia: Here's why Mizuho analyst Vijay Rakesh raised the price target on the stock
▼ + stars: | 2024-05-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia: Here's why Mizuho analyst Vijay Rakesh raised the price target on the stockVijay Rakesh, Mizuho managing director and senior analyst, joins 'Squawk on the Street' to discuss the latest recap on the Nvidia earnings report.

Persons: Vijay Rakesh, Mizuho Organizations: Nvidia

☆ Disney reports earnings before the bell Tuesday. Here's what Wall Street is watching
▼ + stars: | 2024-05-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Walt Disney puts its top-tier media dominance to the test when it reports results before the bell Tuesday. Wells Fargo's Steven Cahall upped his price target to $141 a share, suggesting upside of 24%. StreetAccount estimates call for 229.35 million subscribers across the business unit and nearly 155 million Disney+ subscribers. At its last earnings call in February, Disney said it expects between 5.5 million to 6 million added subscribers in the second quarter. He forecasts an additional 4 million subscribers each year.

Persons: Walt Disney, Nelson Peltz, Jessica Reif Ehrlich, David Karnovsky, Wells Fargo's Steven Cahall, Deutsche Bank's Bryan Kraft, Disney, Vijay Jayant, America's Ehrlich Organizations: Trian Partners, LSEG, Walt Disney, Bank of America, JPMorgan, Disney, Deutsche, DTC, Netflix, Bank Locations: F1Q

☆ Islamophobia and India’s election: Rising Hindu nationalism leaves Muslims fearful in India’s holy city
▼ + stars: | 2024-04-30 | by ( Rhea Mogul | Will Ripley | ) edition.cnn.com time to read: +18 min

Varanasi, India CNN —The sun glistens on the Ganges as Hindu devotees bathe in the holy river’s waters, and the Muslim call to prayer reverberates through the dusty air. The Gyanvapi mosque, left, and Kashiviswanath Temple on the banks of the river Ganges in Varanasi, India, December 12, 2021. He believes Gyanvapi is not a mosque, but a Hindu temple, and wants to see his community worship inside the walls of the building. Vishwambhar Nath Mishra, the priest of a prominent Hindu temple in Varanasi, believes Modi’s stoking of religious tensions is ruining the fabric of Indian society. This is my country.”Read more from CNN’s India election coverage:Billions spent, jungle-trekking poll workers and voting at 15,000 feet.

Persons: Narendra Modi’s, Modi, Varanasi John Mees, Sana Sabah, trepidation, “, Modi’s, Rajesh Kumar Singh, John Mees, Syed Mohammad Yaseen, ”, Hinduism John Mees, ’, Dileep Patel, inching, Nasir Ali, Ali, ‘ Jai Shree Sri Ram ’, Vijay Bedi, CNN Ali, Muzamil, Usman, it’s, Jai Shree Ram ”, Manish Swarup, Raja Singh, we’ll, Singh, –, Jaiveer Shergill, spokespeople, haven’t, Shamsher Ali, Emperor Aurangzeb, Lord Shiva, Kashi Vishwanath Temple, Pawan Kumar, ” Ali, Yaseen, ” Syed Mohammad Yaseen, turbocharge, ” Modi, Ram, Lucas Vallecillos, Swami Jitendranand Saraswati, Gyanvapi, Swami Saraswati, Amit Pandey, Vishwambhar Nath Mishra, ” Mishra, ” Read, Narendra Modi Organizations: India CNN, Bharatiya Janata Party, BJP, CNN, Rashtriya Swayamsevak Sangh, Modi, Bhajanpura Police, United Nations, Human Rights, ” CNN, Modi’s, Hate, AP BJP, T, Human Rights Watch, Amnesty International, International Federation for Human Rights, Reuters, Guards, “ Locations: Varanasi, India, Varanasi John, today’s India, “, Hinduism, Jammu, Kashmir, New Delhi, Delhi, Mustafabad, Rajasthan, Jaipur, Gujarat, Washington, BJP, Ali, Kashi, Gyanvapi, John, Ayodhya, Uttar Pradesh

☆ Scottie Scheffler weathers storm to claim fourth win in five starts. Is he the most dominant golfer since Tiger Woods in his prime?
▼ + stars: | 2024-04-22 | by ( Jack Bantock | ) edition.cnn.com time to read: +5 min

1 mastered the elements once more at a stormy RBC Heritage to reel in his fourth win in his last five starts. “I didn’t show up here just to have some sort of ceremony and have people tell me congratulations,” Scheffler told reporters Monday. Only two players had ever previously won or finished runner-up in five consecutive PGA Tour starts; Vijay Singh in 2004, and Woods on three separate occasions between 1999 and 2008. 1 prepares to chase a historic sixth this week, Scheffler is throwing in the towel – but not before one last jab. The Tour moves on to Los Angeles on Thursday for the Zurich Classic of New Orleans at TPC Louisiana.

Persons: Scottie Scheffler, Scheffler, Sahith Theegala, Woods, Bernhard Langer, ” Scheffler, “, Jared C, Tilton, ’, Meredith, Scott, Diane, I’m, ”, it’s, ’ I’ll, “ They’re, they’ll, Andrew Redington, Scheffler hasn’t, Germany’s Stephan Jaeger, Rory McIlroy, Vijay Singh, Aaron Doster, Nelly Korda, Nelly, she’s, Byron Nelson Organizations: CNN, RBC, Harbor, Augusta National, Getty, Texas Children’s Houston, USA, Sports, Chevron, PGA, Zurich, TPC Louisiana Locations: South Carolina, Harbor Town, Los Angeles, New Orleans

Stock market volatility is ramping up, and some companies slated to report earnings this week could see some sharp moves. Overall, nearly 40 S & P 500 names will have reported earnings by the end of the week, according to FactSet. Amid an uncertain market environment, investors may want to buckle up ahead of certain earnings reports this week. Some semiconductor names also made the cut. Financial heavyweight Blackstone and regional bank names Citizens Financial , Fifth Third and Comerica could also make significant post-earnings moves this week.

Persons: Dow, Bryan Kraft, ASML, Vijay Shilpiekandula Organizations: CNBC Pro, Netflix, United Airlines, Deutsche Bank, TAM, Taiwan Semiconductor, Blackstone, Financial, Third, Comerica

☆ At a Holi festival in Brooklyn, tradition and contemporary celebration create a colorful union
▼ + stars: | 2024-04-15 | by ( Sheetal Banchariya | ) www.businessinsider.com time to read: +8 min

The Hindu festival Holi has become more popular and inclusive, especially in the Indian diaspora. The Hindu festival of colors, observed as Holi in India and Fagu Purnima in Nepal, holds immense cultural significance for South Asians. "There were not many or any events celebrating Holi at that time, despite a considerable number of Indians living in Jackson Heights," she said. He said that over the years he'd seen Indians, Pakistanis, Nepalese, Bhutanese, Sri Lankans, African Americans, and Irish people attending his Holi event. Love was in the air at the Holi celebration.

Persons: —, Fagu, bhalle, gulab jamun, I'd, Sheetal, Zayira Ray, Uma Kapoor, Kapoor, Manny Singh, Jarrod Fox, Festivalgoers, Akash Sheth, Sheth, Singh, Elise Young, Elise's Bodyshop, Carmen Perez, Young, who's, Vijay Satnarine, It's, Satnarine, Love, Lord Vishnu, King Hiranyakashipu, Prahlad, Hiranyakashipu's, Holika, Radha Rani, Lord Krishna Organizations: Service, BI, Morgan, Morgan Stanley's IT, Google, Hindu American Foundation, gulal, Apple Locations: Brooklyn , New York, India, Fagu Purnima, Nepal, New York, Asian, Queens , New York, Jackson Heights, Jersey, New York City, Morgan Stanley's, City, Brooklyn, Sri Lankans, African, Connecticut, Massachusetts, London, Wales

☆ This AI stock could fall 50% and has an 'exaggerated artificial intelligence narrative,' Morningstar says
▼ + stars: | 2024-04-09 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Arm , the British semiconductor design company, has seen its share price skyrocket since reporting third-quarter earnings in February. However, Morningstar believes the current share price is overvalued and could drop by 54% to $57. Morningstar's price target for Arm, which the firm calls a fair value estimate, is $57 per share. The consensus price target of 31 analysts covering Arm polled by FactSet points to a 14% downside. The research firm has raised its price target for Arm to $160, representing 28% upside from current levels.

Persons: Morningstar, Javier Correonero, FactSet, Vijay Rakesh Organizations: Nvidia, Apple, ARM, Mar, CNBC Pro, Mizuho Securities, Morningstar, Mizuho

Morgan Stanley raised its price target on Ford after the company reassessed its electric vehicle strategy. That "paints path to ~$230-$290 stock price as we argue AMZN could warrant an even higher multiple in this scenario," he added. — Michelle Fox 7:38 a.m.: Evercore hikes Disney price target, points out near-term catalysts Walt Disney has a bright near-term outlook, according to Evercore ISI. In addition to cutting his price target, Harned also pulled down his outlook for free cash flow and deliveries. — Alex Harring 5:48 a.m.: KeyBanc raises Nvidia price target There's no slowing down Nvidia , according to KeyBanc.

Persons: Morgan Stanley, KeyBanc, Brian Nowak, Jon Tower, — Michelle Fox, Walt Disney, Vijay Jayant's, Jayant, Bob Iger, — Lisa Kailai Han, David Palmer, Palmer, Uber, — Alex Harring, Bernstein, Douglas Harned, Harned, Dave Calhoun, Alex Harring, Anthony Chukumba, Chukumba, selloff, Ross Seymore, Seymore, TD Cowen, Doug Anmuth, Anmuth, there's, John Blackledge, Blackledge, Jason Bazinet, Bazinet, There's, Goldman, Goldman Sachs, Kate McShane, McShane, BJ, Mark Strouse, Strouse, Adam Jonas, Jonas, Ford, John Vinh, Vinh, Fred Imbert Organizations: CNBC, Monday's, Ford, Nvidia, Amazon, Citi Citi, Grill, ISI, Disney, India's Reliance Industries, Reliance Industries, Netflix, Hulu, Boeing, Dow Jones, Capital, Loop Capital, Deutsche Bank, Broadcom, VMWare, JPMorgan, Citi, BJ's Wholesale, GE, GE Vernova Locations: Michigan, Alaska, F1Q, California, The Massachusetts, Friday's, China

☆ These are Mizuho's top stock picks for April, including home retailers and an energy name
▼ + stars: | 2024-04-04 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Mizuho is out with its top stock picks for April, and the selections include home retailers and an energy company. The newest additions for April include Lowe's Companies and Wayfair , as well as cruise line operator Carnival . Energy giant Chevron was one company where Mizuho said its bullish outlook is greater than the rest of the Street. The $280 price target represents about 16% upside from Lowe's closing price on Wednesday. Other top picks include Intuit and Meta Platforms .

Persons: It's, Mizuho, Piper Sandler, it's, David Bellinger, Nitin Kumar, Vijay Rakesh Organizations: Mizuho, Nvidia, Lowe's, Energy, Chevron, Hess Corp, Intuit, Meta Locations: North Carolina

The 2024 Sohn Investment Conference took place in New York took place Wednesday, with a slew of hedge fund managers highlighting their top ideas. Here are some of the top picks mentioned: Vijay Shilpiekandula, Dilation Capital Investment Idea: ASML Vijay Shilpiekandula of Dilation Capital, who was named the Sohn Idea Contest Winner, presented ASML as his best stock idea. Jesse Cohn, Elliott Investment Management Investment Idea: Etsy E-commerce platform Etsy is an undervalued company, according to Elliott Investment Management managing partner Jesse Cohn. Seth Fischer, Oasis Management Investment Idea: Kao There's an underappreciated buying opportunity in Japanese global chemicals company Kao, according to Seth Fischer, founder and CIO at Oasis Management. David Einhorn, Greenlight Capital Investment Investment idea: Solvay Greenlight's David Einhorn unveiled Solvay as his top investment idea , saying the European chemicals company is a market leader with an attractive valuation.

Persons: Vijay Shilpiekandula, Vijay, ASML, Shilpiekandula, Jesse Cohn, Etsy, Cohn, Seth Fischer, Kao, Fischer, David Einhorn, Solvay, Einhorn, Michael Buckley, Natera, Buckley, Mohammed Anjarwala, Carpenter, Anjarwala Organizations: Elliott Investment Management Investment, Elliott Investment Management, Body, Oasis Management Investment, Oasis Management, Nikkei, Greenlight Capital Investment Investment, Solvay, Duquesne Family, Duquesne Family Office, Global, Technology Carpenter Technology, Boeing, Airbus Locations: New York, Europe, Bath

☆ A $20m mansion home was built on top of a 400ft skyscraper. The tycoon owner may never get to live in it.
▼ + stars: | 2024-03-23 | by ( Cameron Manley | ) www.businessinsider.com time to read: +4 min

A $20-million sky mansion sits on top of a 33-story luxury apartment complex in India. The spectacular home was designed for businessman Vijay Mallya. AdvertisementVijay Mallya might never get to live in the mansionThere's a real possibility that Mallya won't ever get to live in the sky mansion. Indian businessman Vijay Mallya arrives at the Royal Courts of Justice in London, February 2020. On the list were defense dealer Sanjay Bhandari, diamond trader Nirav Modi, and Vijay Mallya.

Persons: Vijay Mallya, Mallya, —, Vijay, instagram Irfan Razac, superrich, Ambani, Ashwin, Tom Tugendhat, Sanjay Bhandari, Nirav Modi Organizations: Service, Prestige Estates, Business, Kingfisher, Financial Times, Royal, of Justice, Reuters, of State Security, Press Trust of, The, India's Central Bureau of Investigation, National Investigation Agency Locations: India, Bengaluru, Mumbai, London, Reuters India, Japan, Canada, New Zealand, Norway, British, Press Trust of India, The Times

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

☆ India’s booming tech sector suffers a big blow as Byju’s and Paytm plunge into crisis
▼ + stars: | 2024-03-07 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

A subsequent audit "revealed persistent non-compliances and continued material supervisory concerns in the bank," the central bank said on Jan. 31. Yet to be profitable, Paytm is also reportedly being probed by the federal anti-fraud agency on possible violations of foreign exchange laws. On Feb. 26, One97 Communications, the parent company of Paytm, said in an exchange filing that founder and CEO Vijay Shekhar Sharma had resigned from the board of Paytm Payments Bank. During the pandemic, Paytm capitalized on the digital payments boom in India, reporting a 3.5 times growth in transactions. SoftBank and Ant Group are now reportedly cutting their stakes in the payments company, according to local media.

Persons: Anindito Mukerjee, There's, Karan Mohla, Paytm, Vijay Shekhar Sharma, SoftBank Organizations: Bloomberg, Getty, B Capital, Reserve Bank of India, One97 Communications, Paytm Payments, Alibaba, Ant, Ant Group Locations: Greater Noida, India

A man exercises in a gym near a barcode for Paytm, an Indian cellphone-based digital payment platform, in New Delhi on November 18, 2021. The Indian Finance Ministry, the RBI and Paytm did not immediately respond to CNBC's requests for comment. A Paytm spokesperson has denied any violation of foreign exchange laws, calling them "unfounded and factually incorrect," according to Reuters. The shares saw a massive three-day sell-off following the RBI's order last week which wiped out more than $2.5 billion in value, before a subsequent bounce. Earlier in the week, Indian billionaire Mukesh Ambani's Jio Financial Services denied media reports it was buying Paytm's wallet business.

Persons: Paytm, It's, Vijay Shekhar Sharma, Nirmala Sitharaman, Sharma, Mukesh Ambani's Organizations: Reserve Bank of, CNBC, Reuters, Indian Finance Ministry, One97 Communications, India's National Stock Exchange, Financial Services Locations: New Delhi, Reserve Bank of India

☆ Premarket stocks: US companies are still worried about an economic shock
▼ + stars: | 2024-02-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

A version of this story first appeared in CNN Business’ Before the Bell newsletter. But America’s publicly traded companies are flashing a key sign of economic uncertainty — they’ve been hoarding cash. And companies with existing and expensive debt in a high-interest rate environment would likely want to use their cash to pay it down. “We interpret this correlation as evidence that cash reserves act like insurance against sudden economic shocks,” wrote the researchers. The missing bolts are apparently not the only problem.

Persons: America’s, ” Vijay Govindarajan, ”, Dartmouth’s Govindarajan, Anup Srivastava, Chandrani Chatterjee, Max, Jennifer Homendy, Homendy, Evan Spiegel, Tuesday’s, Read Organizations: CNN Business, Bell, New York CNN, CNN, Moody’s Investors, Dartmouth’s Tuck School of Business, University of Calgary’s Haskayne School of Business, University of Texas, JPMorgan, NTSB, Boeing, National Transportation Safety, Max, Alaska Airlines, United Airlines, Wall Street, Meta Locations: New York, Ukraine, Arlington, Alaska, Oregon, ”

☆ Paytm was once India’s hottest startup. Its shares have crashed 36% in two days
▼ + stars: | 2024-02-02 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

Shares of the hugely popular digital payments company have crashed by the daily maximum allowed in Mumbai for two days in a row, even though India’s stock markets have been touching new all-time highs. It also landed in hot water with regulators — two years ago, the central bank barred its banking arm from signing up new customers. Paytm stock is now trading at just 487 rupees (around $6) a share. The latest plunge came after India’s central bank cracked down further on its business. Paytm launched its payments bank in 2017 as a joint venture with founder Vijay Shekhar Sharma.

Persons: New Delhi CNN — Paytm, Paytm, ”, Manish Chowdhury, Vijay Shekhar Sharma, Sharma, Narendra Modi, ” Sharma Organizations: New, New Delhi CNN, Paytm Payments Bank, Indian, CNN Locations: New Delhi, Mumbai, India

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