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☆ Crypto firms introduce risk assessments and finance tests in response to strict new rules in UK
▼ + stars: | 2024-01-05 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

It comes ahead of tough new rules on the advertising of digital asset products in the country. If a customer fails to complete the tasks successfully, they will be prevented from trading with their crypto account. Coinbase said the changes were made "to ensure we are meeting UK investor protection standards, which require our users to have the necessary knowledge to make informed investment decisions." "We do not expect this to impact user activity in the UK and as always our customer service team is on hand to help with any queries," George Tucker, U.K. general manager of Crypto.com, told CNBC via email. "As an authorised Electronic Money Institution and registered cryptoasset business in the U.K., Crypto.com supports and complies with the FCA's rules and will continue to work with the regulator as we expand our product offering here," Tucker added.

Persons: Brian Armstrong, Daniel LEAL, DANIEL LEAL, Coinbase, George Tucker, Crypto.com, Tucker Organizations: Global Investment, Getty, Financial Services, Markets, Authority, FCA, CNBC Locations: London, Britain, cryptocurrency

☆ Coinbase is planning a pivotal acquisition that will allow it to launch crypto derivatives in the EU
▼ + stars: | 2024-01-05 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The U.S. cryptocurrency exchange told CNBC exclusively that it entered into an agreement to buy an unnamed holding company which owns a MiFID II license. The EU updated the legislation in 2017 to address criticism that it was too focused on stocks and didn't consider other asset classes, like fixed income, derivatives and currencies. If and when Coinbase completes the deal, the move would mark the first launch of derivatives trading by the company in the EU. With a MiFID II license, Coinbase will be able to begin offering regulated derivatives, like futures and options, in the EU. "This license would help expand access to our derivatives products by allowing Coinbase to offer them to eligible European customers in select countries across the EU," Coinbase said in a blog post, which was shared exclusively with CNBC on Friday.

Persons: Leon Neal, Getty, MiFID, Coinbase Organizations: European Union, CNBC, EU Locations: ENGLAND, London, England, U.S, EU, bitcoin

☆ Cryptocurrency investors eagerly awaiting SEC ruling on bitcoin ETFs
▼ + stars: | 2024-01-05 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

Crypto investors are eagerly awaiting an imminent ruling from the U.S. Securities and Exchange Commission that will likely approve the trading of a spot bitcoin exchange-traded fund, more than a decade after initial attempts were rejected. 13 companies have filed for a spot bitcoin ETF:Grayscale Bitcoin TrustArk/21Shares Bitcoin TrustBitwise Bitcoin ETF TrustBlackRock Bitcoin ETF TrustVanEck Bitcoin TrustWisdomTree Bitcoin TrustValkyrie Bitcoin FundInvesco Galaxy Bitcoin ETFFidelity Wise Origin Bitcoin TrustGlobal X Bitcoin TrustHashdex Bitcoin ETFFranklin Templeton Digital Holdings TrustPando Asset Spot Bitcoin TrustHow the SEC will proceedThere are two components to the applications:1) A 19b-4 filing, which is a form used by exchanges to inform the SEC of a proposed rule change. In this case, each company filing for the spot bitcoin ETF has differences in the way the product might be structured. Invesco's Galaxy Bitcoin ETF has set its expense ratio at 59 basis points, which are waived for the initial six months and the first $5 billion in assets. Grayscale Bitcoin Trust currently charges 2% but has said it's committed to lowering the fee once its application to convert to a bitcoin ETF is approved.

Persons: Fidelity's, it's, Gary Gensler's, Gensler, Bitcoin, Coinbase, Binance, Changpeng Zhao, Zhao, Wood Organizations: U.S . Securities, Exchange Commission, BlackRock, Fidelity, Bitcoin, Franklin Templeton Digital Holdings Trust, SEC, Securities, NYSE, Nasdaq, Galaxy, U.S ., Appeals, U.S . Department of Justice, Binance

Meanwhile, there is growing excitement that the U.S. Securities and Exchange Commission will approve the first ever bitcoin ETF, after years of opposition. With all of this excitement comes some quite bold predictions about bitcoin's price. "No rationale for that prediction," Mobius said, except that a bitcoin ETF looks likely and "that has heightened interest" in the cryptocurrency. Yang attributes the anticipated price rise to a bitcoin ETF being approved, leading to higher institutional investment in bitcoin, as well as May 2024's bitcoin halving, which would result in the bitcoin supply being constrained. Alexander told CNBC that during the first quarter of 2024, bitcoin will trade within the $40,000 to $55,000 range, owing to "professional traders creating volatility."

Persons: Filip Radwanski, Bitcoin, bitcoin, FTX, Sam Bankman, Fried, Binance's Changpeng Zhao, Mark Mobius, Mobius, Yang, Luna, James Butterfill, Butterfill, Antoni Trenchev, Trenchev, Carol Alexander, Alexander, Coinbase, Matrixport Organizations: Getty, CNBC, Department of Justice, U.S, U.S . Securities, Exchange, Chartered, University of Sussex, Exchange Commission, SEC, Fidelity, Blackrock, Federal Reserve Locations: U.S, bitcoin, Blackrock

☆ The 2023 stock winners investors should let ride, sell or hedge in the new year
▼ + stars: | 2024-01-01 | by ( Michael Khouw | ) www.cnbc.com time to read: +9 min

Let 'em ride: Several of 2023's best-performing stocks were grossly undervalued at the beginning of the year. So while investors recognized the company could deliver massive earnings and free cash flow, they were afraid Zuckerberg had gone off the reservation. The stock sports topline growth, substantial margins, a strong balance sheet, substantial free cash flow, and a moat around its business. It's time to hedge some of those gains (or take profits): The second best-performing stock in the Russell 1000 for 2023 is Coinbase (COIN) . If you own, but don't want to sell, consider purchasing the March $45/$35 put spread as a particle hedge, as illustrated below.

Persons: David Ricardo, Ricardo, Mark Zuckerberg, Zuckerberg, doesn't, Russell, cryptocurrencies, aren't, Equifax Organizations: Russell, Vertiv, Builders, Topbuild Corp, Nvidia, Investors, MU, Walmart, Visa, Mastercard, Paypal, Experian, PayPal, Palantir Technologies, Government Locations: uptrends

Here's the state of play globally for crypto regulation and enforcement in 2023 — and a look at what to expect in 2024. "However, much of their work has involved providing guidance to the industry through enforcement actions," continued Levin. Crypto market participants nevertheless hope that the spate of legal challenges brought to crypto companies in 2023 will bring clarity in the form of new regulations. The U.S.'s dominant role in global finance and its focus on consumer protection plays a crucial role in its leading position in crypto regulation enforcement. The region has been increasingly warming to crypto assets, despite a broader anti-crypto push from China, which banned bitcoin trading and mining in 2021.

Persons: Al Drago, Binance, Sam Bankman, Renato Mariotti, Mariotti, Richard Levin, Nelson Mullins Riley, Levin, ada, Changpeng Zhao, Damian Williams, Brian Armstrong, Armstrong, Alyse Killeen, Scarborough's Levin, FinCEN, Killeen, Diem, USDC, Braden Perry, it's, Kennyhertz Perry, Perry, Bafin Organizations: U.S . Securities, Exchange Commission, Bloomberg, Getty, Regulators, Securities and Exchange Commission, U.S, Alameda Research, U.S . Justice Department's Securities, Commodities, CNBC, Capitol, SEC, Futures Trading Commission, Department of Justice, Scarborough, CFTC, Protocol Labs, Southern, of, Stillmark, Meta, Visa, Mastercard, U.S ., European, IRS, European Union, EU, France's Financial Markets Authority, AMF, Treasury, Monetary Authority of, Three Arrows, Terra Labs, Terra, Hong Kong Securities, Futures Commission, SFC, OSL Locations: Washington, Europe, Asia, U.S, Alameda, of New York, European, Crypto, Ireland, Germany, France, Italy, Netherlands, Singapore, Dubai, Hong Kong, Monetary Authority of Singapore, China, East, Africa

☆ Heroes to zeroes in 12 months: How the two biggest crypto billionaire CEOs proved the critics right
▼ + stars: | 2023-12-30 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. Meanwhile, Solana is nearly 10x higher in the last 12 months, and bitcoin miner Marathon Digital has also skyrocketed. That same year, Bankman-Fried earned street cred in crypto circles for his bitcoin arbitrage trading strategy, dubbed the Kimchi swap. The relationship between Zhao and Bankman-Fried began to sour a few months after they met. In Nov. 2022, a fight between Bankman-Fried and CZ on Twitter, now known as X, pulled the mask off the scheme.

Persons: Sam Bankman, Zhao Changpeng, Bitcoin, Solana, Binance's, Zhao, FTX's Sam Bankman, Fried, JPMorgan Chase, Jamie Dimon, bitcoin, Bill Gates, Warren Buffett, Elizabeth Warren, execs, Renato Mariotti, Michael Lewis, Sam, gunning, Lewis, SBF, Binance, FTX, Goldman Sachs, General Merrick Garland, Garland, Amr Alfiky Organizations: Marathon, JPMorgan, Microsoft, Capitol, Department of Justice, U.S . Justice Department's Securities, Commodities, CZ, Alameda Research, Formula, Democratic, Twitter, Emergency Economic, U.S ., Futures Trading Commission, Treasury Department, Securities, Exchange Commission, Justice Department, DOJ, Reuters Locations: Hong Kong, Singapore, Bankman, FTX, Miami, Washington, Alameda, U.S, New York City

☆ Crypto’s 2023 was marred by fraud and scandal. It was its best year ever
▼ + stars: | 2023-12-24 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —Crypto’s 14th year in existence was one marred by scandal, bankruptcy, fraud and regulatory squabbling. Bitcoin, the crypto’s bellwether asset, is up 160% for the year. “It was the year of crypto’s resiliency,” Kyla Curley, a crypto expert and partner at global advisory StoneTurn, tells CNN. “Fraud is fraud,” Curley says, “Regardless of the technology or the industry … you cannot stop human nature. Adding to that bullish sentiment: the bitcoin halving, or, more menacingly, “the halvening.”While it’s often a buy-the-hype-sell-the-news kind of event, the halving does tend to push bitcoin higher.

Persons: New York CNN —, “, ”, Sam Bankman, Zhao, Alex Mashinsky, Heather “ Razzlekhan ” Morgan, Ilya Lichtenstein, ‘, Bonnie, Clyde ’, Bitcoin, crypto’s, ” Kyla Curley, ” Curley, Changpeng Zhao, Eduardo Munoz, Costas Baltas, Faryar Shirzad, bitcoin, ” Antoni Trenchev, ” Trenchev, Warren Buffett, Anthony Scaramucci, “ Bitcoin Organizations: New, New York CNN, New York CNN — Crypto’s, CNN, Department of Justice, crypto’s, grifters, Bitcoiners, SkyBridge Locations: New York, SBF, Bitcoin

☆ Coinbase secures crypto license in France, pushing deeper in Europe amid rift with the SEC
▼ + stars: | 2023-12-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

POLAND - 2023/08/01: In this photo illustration, a Coinbase logo displayed on a smartphone with stock server lights in the background. France's AMF watchdog gave Coinbase a virtual asset service provider (VASP) approval, which is effectively a green light for the company to operate digital currency services in France. The VASP registration will allow Coinbase to offer custody of digital assets, buying or selling digital assets in legal tender, trading of digital assets against other digital assets, and operating a digital asset trading platform, the company said in a statement Thursday. The European Union has been working to introduce its Markets in Crypto Assets (MiCA) regulation, which would create a harmonized framework for crypto companies to operate in a regulated way in the bloc. Under MiCA, rather than having to secure registration in every EU market, crypto companies will eventually be able to use their VASP license in one country and "passport" into other countries to offer their services across the EU.

Persons: Omar Marques, Coinbase Organizations: Getty, France's AMF, European, Crypto Locations: POLAND, France, Europe, European Union

☆ Robinhood launches crypto trading service in the EU
▼ + stars: | 2023-12-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Robinhood said its new crypto product would allow customers to buy, sell, and hold from a range of more than 25 tokens, including bitcoin, ether, ripple, cardano, solana, and polkadot. The company hopes to offer more tokens, as well as the ability to transfer and "stake," or earn rewards from, crypto in 2024. Robinhood is looking to tempt EU users into using its service with the ability to earn free bitcoin for users who trade lots and refer the app to their friends. The U.S. Securities and Exchange Commission has targeted several crypto firms, including Coinbase and Binance, with lawsuits alleging they violated securities laws. The EU, meanwhile, has proposed a comprehensive set of regulation, called the Markets in Crypto-Assets regulation, that would bring in stricter rules for crypto trading platforms and issuers of so-called stablecoins — tokens pegged to real-world assets like the U.S. dollar or euro .

Persons: Jakub Porzycki, Robinhood Organizations: Getty, European Union, U.S . Securities, Exchange Commission, U.S . Locations: Krakow, Poland, United States, solana, U.S, U.K, EU, Crypto

Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. Crypto companies spent $18.96 million in the first three quarters of 2023 on lobbying, compared with $16.1 million during the same period in 2022. That was despite last year's spectacular meltdown of crypto exchange FTX, which had been a top-ten spender. Coinbase (COIN.O), the largest U.S. crypto exchange, led the pack again, spending $2.16 million, followed by Foris DAX, which operates Crypto.com, the Blockchain Association and Binance Holdings. Although those bills have yet to advance further, crypto lobbyists are not letting up.

Persons: Marco Bello, spender, FTX, Foris DAX, Kristin Smith, Sam Bankman, Fried, Coinbase, Binance, Crypto.com, Hannah Lang, Michelle Price, Matthew Lewis Organizations: REUTERS, Rights, Blockchain Association, Binance Holdings, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Miami Beach , Florida, U.S, Washington, Manhattan, Binance

☆ Here are Tuesday's biggest analyst calls: Netflix, Apple, IBM, Coinbase, Nike, Domino's, Meta, Charles Schwab and more
▼ + stars: | 2023-12-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Goldman Sachs reiterates Nike as buy After a transfer of analyst coverage, Goldman Sachs said it sees improving growth for Nike shares. UBS downgrades United Rentals to neutral from buy UBS said in its downgrade of the equipment rental company that it sees a more balanced risk/reward. UBS reiterates Apple as neutral UBS said its analysis of Apple's App Store shows revenue increasing. UBS reiterates Netflix as buy UBS said it's standing by its buy rating on Netflix shares after hosting the company at a conference. William Blair reiterates Charles Schwab as outperform William Blair named Schwab a top pick for 2024, noting it's well-positioned.

Persons: Raymond James, Piper Sandler downgrades Albemarle, Piper Sandler, it's, Goldman Sachs, Roth, Roth MKM, TD Cowen, Bernstein, Mizuho downgrades Prologis, Wells, Wells Fargo, Oppenheimer, Domino's, Elliott, Morgan Stanley, Meta, Needham, Coinbase, JPMorgan, Raymond James downgrades Lululemon, LULU, Strong, William Blair, Charles Schwab, Schwab Organizations: Crescent Energy, Energy Company, Eagle Ford, UW, Nike, Bank of America, UBS, Credit Suisse, Yale, HY, United Rentals, Apple, Semiconductors, JPMorgan, IBM, Consulting, Mizuho, Marriott, of America, Netflix, Management, Integra, Financial, ISI, Disney, BR, Cargo Therapeutics, Citi, Travere Therapeutics Locations: Houston, Uinta, Eagle, LTHM, 2024E, 2025E, Argentina, Boston, China, Mexican

☆ Coinbase comeback has further to go as retail investors are only starting to rediscover crypto, Needham says
▼ + stars: | 2023-12-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Coinbase shares have even further to climb despite already being up 13% since the start of December and the low appetite for crypto coming from retail investors, according to Needham. Needham raised its price target on Coinbase on Tuesday to $160 from $120, implying about 13% upside from its closing price Monday. Meanwhile, although retail investors' appetite for crypto has improved since bottoming a year ago after the collapse of FTX, interest is generally low, according to Needham. "Retail crypto engagement is considerably lower than in prior years and despite the recent price gains, has been fairly muted," Todaro said. Dominance tends to rise in bear markets as investors rotate into the safety of bitcoin compared to other crypto coins .

Persons: Needham, John Todaro, Todaro, Coinbase, Franklin Templeton, Michael Bloom Organizations: U.S . Department of Justice, Apple Locations: Needham, U.S, BlackRock, WisdomTree, bitcoin

☆ Crypto stocks surge as bitcoin hits fresh 2023 high
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

"What we have right now is a risk rally, and bitcoin is also benefiting big time from falling yields. Halving is a process designed to slow the release of bitcoin, and bitcoin prices have typically rallied following halvings. The stock rose nearly 62% in November, even as the crypto exchange reported a decline in third-quarter trading volumes. The ProShares Bitcoin Strategy ETF , which tracks bitcoin futures, rose 7.7% and looked set to touch an over one-year high, while the ProShares Short Bitcoin Strategy ETF that allows traders to bet on a fall in bitcoin futures fell 7.7%. However, the recent rally has sent bitcoin up more than 150% so far in 2023, on course for its best annual performance since 2020.

Persons: Dado Ruvic, Bitcoin, Ipek Ozkardeskaya, Microstrategy, Sruthi Shankar, Amruta, Tasim Zahid Organizations: REUTERS, Swissquote Bank, Thomson Locations: U.S, Bengaluru

☆ Stocks making the biggest moves midday: Spotify, Virgin Galactic, Lululemon and more
▼ + stars: | 2023-12-04 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Lululemon — Shares declined 2% after Wells Fargo downgraded the athleisure company to equal weight from overweight. The firm said Lululemon's prior positive catalysts have already played out, and it forecasts more muted growth in 2024. Spotify — Shares added 8.8% after the music streaming company announced it would lay off 17% of its workforce. The three stocks will replace Sealed Air , Alaska Air Group and SolarEdge Technologies . Virgin Galactic — Shares of the space company plunged nearly 15%.

Persons: Wells, MicroStrategy, Dow, FirstSource, Richard Branson, Branson, KeyBanc, Carvana, Morgan Stanley, — CNBC's Hakyung Kim, Jesse Pound, Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Sarah Min, Michelle Fox Organizations: Marathon, Spotify, Technologies, Uber Technologies, Dow Jones, Builders, Alaska Air Group, SolarEdge Technologies, Galactic —, Financial, United, JPMorgan, Alaska Air Group —, Hawaiian Airlines, Alaska Air, Hawaiian Holdings, General Motors, Cadillac, Chevrolet, Mizuho Securities, United Auto Workers, Palo Alto, Palo Alto Network Locations: MicroStrategy, British, Seattle, Palo

The New York Stock Exchange (NYSE) in New York City, U.S., February 24, 2022. Pressuring equities on Monday were higher U.S. Treasury yields, which made returns on stocks less attractive. However, some analysts have cautioned that markets have been too quick to price in lower interest rates. The S&P index recorded eight new 52-week highs and no new lows, while the Nasdaq recorded 46 new highs and 17 new lows. Reporting by Amruta Khandekar and Shristi Achar A; Editing by Anil D'Silva and Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Caitlin Ochs, Jerome Powell, It's, Sam Stovall, Stovall, Santa Claus, advancers, Amruta Khandekar, Anil D'Silva, Pooja Desai Organizations: New York Stock Exchange, REUTERS, Companies Alaska Air, Hawaiian Holdings, Dow, Nasdaq, Federal Reserve, Treasury, Nvidia, Apple, Traders, Research, Alaska Air Group, Dow Jones, Marathon, NYSE, Thomson Locations: New York City, U.S, New York, Santa, Israel, Red

☆ Stocks making the biggest moves premarket: Uber, Coinbase, Spotify, Alaska Air and more
▼ + stars: | 2023-12-04 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Uber Technologies — The ride-hailing stock rose 4% after S & P Dow Jones Indices on Friday said it will enter the S & P 500, along with Jabil and Builders FirstSource . The three will replace Sealed Air , Alaska Air Group and SolarEdge Technologies . Alaska Air Group — The Seattle-based carrier slid 12% after agreeing to acquire Hawaiian Airlines for $1.9 billion. Alaska Air, which would pay $18 a share, would take on $900 million in debt as part of the deal. Alaska Air is also coming out of the S & P 500 index.

Persons: —, Coinbase, MicroStrategy, Dow, Wells, Carvana, — CNBC's Michelle Fox, Hakyung Kim, Pia Singh, Samantha Subin Organizations: Marathon, Technologies, Dow Jones, Builders, Alaska Air Group, SolarEdge Technologies, General Motors, Cadillac, Chevrolet, Mizuho Securities, GM, United Auto Workers, Spotify, CNBC, Hawaiian Airlines, Alaska Air, Hawaiian Holdings, Alaska, JPMorgan Locations: Seattle

☆ Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +9 min

TECHNOLOGY, MEDIA AND TELECOM SECTORMeta Platforms (META.O):The Facebook-parent said it would cut 10,000 jobs, just four months after it let go 11,000 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The company laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. Workday (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse was planning to cut about 3,000 jobs in the second quarter ended June 30, Reuters reported in May.

Persons: Brendan McDermid, Goldman Sachs, Axios, Pat Gelsinger, Elon Musk, Morgan Stanley, Lazard, Coinbase, cryptocurrencies, Phillips, Johnson, Joseph Wolk, Deborah Sophia, Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, Sourasis Bose, Priyamvada, Tiyashi Datta, Manya Saini, Jaspreet Singh, Maju Samuel, Sriraj Kalluvila, Pooja Desai Organizations: REUTERS, TELECOM, Meta, Facebook, IBM Corp, Spotify Technology SA, Spotify, Microsoft Corp, Intel Corp, Reuters, New York Times, Elon, Cisco Systems, HP, Rivian, Match, Dell Technologies, Technologies, U.S . Central Intelligence Agency, Goldman Sachs, Wall, Citigroup, Bloomberg News, BlackRock, Bed, Dow, Johnson, 3M, Thomson Locations: New, Wall, U.S, York, New Jersey, Bengaluru

☆ A new era for the market means a new way to think about investing
▼ + stars: | 2023-12-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe market volatility in the wake of the pandemic gave people visions of getting rich overnight, but true investing is a long-term play. As a result, a new market regime means new investing strategies will be necessary, James and Will write. Setting aside recency bias, it's been relatively easy to generate good returns in the market over the past 10 years. AI names may have commanded the market's attention lately, but another corner of the market is seeing impressive gains: stocks tied to digital assets.

Persons: —, Liam Eisenberg, Insider's James Faris, Will Edwards, Let's, James, Will, Spencer Platt, that's, Arantza Pena Popo, bitcoin, Alyssa Powell, Prasad Kalyanaraman, Cybertruck, Elon Musk's Cybertruck, Jay, Tyra Banks, Blake Snell, Thomas Carlyle, I'd, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Business, Getty, Marathon Digital, Oxford Dictionary Locations: America, Europe, EU, New York City, San Diego, London, New York

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Amazon, GM, Uber, Carvana, Nike, Palo Alto & more
▼ + stars: | 2023-12-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Wells Fargo downgrades Lululemon to equal weight from overweight Wells said in its downgrade of the stock that it sees less balanced risk/reward. Morgan Stanley downgrades Sea Limited to equal weight from overweight Morgan Stanley downgraded the Singapore-based tech conglomerate until its business outlook is clearer. Morgan Stanley upgrades Insulet to overweight from equal weight Morgan Stanley initiated the insulin pump therapy company and said it sees room for further gains. Wells Fargo reiterates Nike as overweight Wells says Nike is a top defensive pick for 2024. Morgan Stanley reiterates Palo Alto as overweight Morgan Stanley said Palo Alto shares have the poten tial to rise further.

Persons: Morgan Stanley, Mizuho, Wells, LULU, Roth, Evercore, Piper Sandler, Piper, NVDA, Goldman Sachs, Goldman, it's bullish, KeyBanc, Worthington Enterprises –, TD Cowen, Coinbase, underperform TD Cowen, Oppenheimer, Uber, Truist, Herc, Palo Organizations: West Bancorp, Bank of America, Union Pacific, US Bancorp, Motors, Mizuho, GM, UAW, UBS, Apple, Deutsche Bank downgrades Anheuser Busch InBev, Deutsche, Deutsche Bank, Airlines, Alaska, " Bank of America, Google, Walmart, Nvidia, AMD, European Partners, Coke, JPMorgan, of America, Magellan, MMP, Arrowhead Pharmaceuticals, Arrowhead Pharma, Worthington Steel, Worthington Industries, Worthington Enterprises, Barclays, Resources, Herc Holdings, United Rentals, Nike, Palo Alto, Palo Locations: China, Singapore, Indonesia

☆ Coinbase can get a strong tailwind from smaller cryptocurrencies ticking up, says EMJ's Eric Jackson
▼ + stars: | 2023-12-04 | 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 EmailCoinbase can get a strong tailwind from smaller cryptocurrencies ticking up, says EMJ's Eric JacksonEric Jackson, EMJ Capital, joins 'Closing Bell' to discuss his tech and crypto sector outlooks.

Persons: EMJ's Eric Jackson Eric Jackson Organizations: EMJ

☆ Inside the WNBA's strategy to partner with companies like Deloitte and Google to propel the league — and how it'll leverage that growth in its next rights negotiations
▼ + stars: | 2023-12-04 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +7 min

She listened to her players and what they wanted from the league, including a higher salary cap, but knew she couldn't meet all of their needs. One partner, Deloitte, overhauled the WNBA's app, for example. The current rights deal for the WNBA, which is coming off its largest regular-season viewership in more than two decades, runs through 2025. The mid-season Commissioner's Cup is sponsored by league partner Coinbase. The streaming app WNBA League Pass also brought in viewership, as did deals with Meta and YouTube.

Persons: Cathy Engelbert's, Engelbert, It's, Coinbase, Ethan Miller, Engelbert's, Disney, Nielsen, Ion Organizations: WNBA, Business, Deloitte, Nike, Google, US Bank, Companies, NBA, YouTube, Disney, Team, Seattle Storm's, ESPN, ABC, Scripps Ion, CBS, Meta, Scripps Locations: Las Vegas

☆ Wall St Week Ahead Tax-loss selling, 'Santa rally' could sway U.S. stocks after November melt-up
▼ + stars: | 2023-12-02 | by ( David Randall | ) www.reuters.com time to read: +5 min

The key catalyst for stocks will likely continue to be the expected trajectory of the Federal Reserve's monetary policy. In September, historically the weakest month for stocks, the S&P 500 fell nearly 5%. The S&P 500 gained nearly 9% gain in November, historically a strong month for the index. Overall, December has been the second-best month for the S&P 500, with the index up an average of 1.54% for the month since 1945, according to CFRA. Many other names have languished: The equal-weighted S&P 500, whose performance is not skewed by big tech and growth stocks, is up around 6% in 2023.

Persons: Mike Segar, Santa Claus, Stocks, We've, Sam Stovall, Claus, Kraft Heinz, BofA, Sameer Samana, Dow, Michael Hartnett, David Randall, Ira Iosebashvili, Richard Chang Organizations: New York Stock Exchange, REUTERS, Federal, Research, Investors, LPL, BofA Global Research, PayPal Holdings, CVS Health, Kraft, Wells, Investment Institute, Nvidia, Dow Jones, Coinbase Global, Innovation, Thomson Locations: Manhattan, New York City , New York, U.S, Santa, New York

☆ Stocks making the biggest moves premarket: Pfizer, Disney, Tesla, Alibaba and more
▼ + stars: | 2023-12-01 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Pfizer — Shares dropped 4.2% after the drugmaker said it would halt development of its twice-daily experimental weight loss pill. Marvell Technology — The semiconductor stock fell more than 5% after Marvell issued lower-than-expected revenue guidance for the fourth quarter. Ulta Beauty — The stock gained nearly 12% after the beauty products retailer reported third-quarter earnings that beat analysts' expectations. Ulta reported earnings of $5.07 per share, higher than the $4.95 per share analysts polled by LSEG were expecting. Dell — Stock in the computer maker fell nearly 6% on the heels of a mixed third-quarter earnings report.

Persons: Pfizer, Andrew Nowinski, Nelson Peltz, Alibaba, Morgan Stanley, Tesla, Coinbase, Ulta, LSEG, Jessica Fye, Lisa Kailai Han, Jesse Pound, Michelle Fox Organizations: Pfizer —, Paramount Global, Wall Street Journal, Apple, Disney —, Trian Fund Management, Marvell Technology, Marvell, Invest, Nasdaq, Dell —, Wall, LSEG, JPMorgan Locations: —, Wells Fargo

☆ Crypto stocks set to start December on high note as bitcoin hits near 19-month high
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Shares of bitcoin miners - whose profitability improves as bitcoin climbs - including Riot Platforms (RIOT.O), Marathon Digital (MARA.O) and TeraWulf (WULF.O) rose between 1.7% and 4%. "Higher crypto prices should lead to a boost in transaction volume and transaction revenues for Coinbase as we enter 2024," said CFRA Research analyst Michael Elliott. However, Elliott cautioned the crypto exchange faces both legal challenges and new regulations that are likely to take time to play out and will continue to result in volatility for the stock. The ETF approval bets have helped counter latest concerns after Changpeng Zhao, the founder of the world's largest crypto exchange, stepped down and pleaded guilty to breaking U.S. anti-money laundering laws. Among other gainers were U.S. software developer and bitcoin investor Microstrategy (MSTR.O), up nearly 3.5%, and ProShares Bitcoin Strategy ETF (BITO.P), which added 2.1%.

Persons: Dado Ruvic, Noelle Acheson, J.P.Morgan, Iris, Michael Elliott, Elliott, Changpeng Zhao, Microstrategy, Medha Singh, Sriraj Kalluvila, Krishna Chandra Organizations: REUTERS, Cipher Mining, Iris Energy, Marathon, CFRA, Thomson Locations: bitcoin, Bengaluru

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