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☆ Dutch neobank Bunq goes on hiring spree, targeting digital nomads, as other fintechs slash jobs
▼ + stars: | 2024-09-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a "large and underserved" market of some 2.8 million British "digital nomads." "Bunq focusses on digital nomads who tend to roam the world," Ali Niknam, Bunq's CEO and co-founder, told CNBC via emailed comments. And in the U.K., Bunq is awaiting a decision from financial regulators on an application to become a licensed e-money institution, or EMI. Many of these positions will be part of a "tailored digital nomad" program that allows staff to work from anywhere in the world, Bunq said. Bunq earlier this year reported its first full year of profitability, generating 53.1 million euros ($58.51 million) in net profit in 2023.

Persons: Pavlo Gonchar, Bunq, Britain's, Ali Niknam, Niknam, Coinbase, Klarna, Bunq's Niknam Organizations: Getty Images, CNBC, European Union, U.S, EMI, PayPal Locations: United States, Amsterdam, Sofia, Istanbul, Munich, Paris, Dublin, Madrid, London, New York City

☆ Ron Insana: Even as inflation cools, markets show that risks to the soft landing are rising
▼ + stars: | 2024-09-11 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

What people say about growth and inflation doesn't matter much anymore – even as the latest consumer inflation report shows a cooling trend. That means a notable drop in both wholesale and consumer prices is coming down the road. Now, it appears that the U.S. is slipping behind the rest of the world, turning its policy actions toward growth risks rather than inflation risks. It's also important to remind Fed policymakers that there is ample evidence of slower consumer spending among middle-to-lower income families. Further, recent revisions to job growth in the 12-month period through March 2024 confirm that a soft landing is at risk.

Persons: Stocks, that's, We're, It's, Ron Insana Organizations: Treasury, U.S ., CNBC Locations: China, U.S

☆ Subprime borrowers are doing better than prime for fintech players, says Mizuho analyst
▼ + stars: | 2024-09-11 | 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 EmailSubprime borrowers are doing better than prime for fintech players, says Mizuho analystDan Dolev, senior analyst in fintech equity research at Mizuho, joins CNBC's Kelly Evans to discuss rising consumer credit concerns, the state of auto loans, top players in fintech to invest in and more.

Persons: Dan Dolev, CNBC's Kelly Evans Organizations: Mizuho Locations: fintech

☆ PastPay, a fintech bringing BNPL to business invoices, just raised $13.3 million using this 11-slide pitch deck
▼ + stars: | 2024-09-10 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

PastPay, a Hungarian B2B BNPL startup, raised $13.3 million in Series A funding. The company offers flexible payment terms to merchants through factoring to improve liquidity. AdvertisementPastPay, a Hungarian startup that offers businesses buy-now, pay-later services for invoices, has raised $13.3 million in Series A funding. Companies typically provide invoices for services, but payment timelines can be tricky, with windows of 15 to 90 days for transfers. Once merchants are approved, PastPay says it provides cash to businesses awaiting invoice payments within 24 hours — minus charges.

Persons: —, PastPay Organizations: SME, Service, Business Locations: Hungarian, Budapest

☆ Apple's event will serve as a litmus test for the wider AI industry
▼ + stars: | 2024-09-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Apple is gearing up to announce a new lineup of devices at its 'Glowtime' event today — that's where we kick things off in our big story. AdvertisementApple's "Glowtime" event is today, the latest iteration of the tech giant's annual unveiling of its newest iPhone , writes Business Insider's Jordan Hart. AdvertisementAppleThe Apple event will also serve as a litmus test for the wider AI industry. Even giants like Microsoft and Amazon have struggled to turn their big AI bets into revenue drivers. AdvertisementSuccess could give the AI industry more confidence that there is a light at the end of the AI spending tunnel.

Persons: —, Chelsea Jia Feng, Insider's Jordan Hart, Apple, that's, BI's Hasan Chowdhury, that'll, –, Siri, Jenny Chang, Rodriguez, Paul Graham's, Brian Niccol, Laxman Narasimhan, Dan DeFrancesco, Hallam Bullock, Grace Lett, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Chelsea, Apple, Apple Intelligence, Microsoft, Amazon, Getty, Nvidia, JPMorgan, DOJ, Google, Oracle Locations: China, New York, London, Chicago

☆ Wyoming is pushing crypto payments and trying to beat the Fed to a digital dollar
▼ + stars: | 2024-08-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

As crypto investing becomes more mainstream and institutionalized with bitcoin ETFs, Wyoming is already pushing into the next phase of growth for crypto: consumer payments. The visionWyoming is currently vetting potential partners and vendors with more tech expertise to help build the stable token. From there, it should be just another payment method for everyday things, said Flavia Naves, a commissioner at the Wyoming Stable Token Commission. "This is a public token as well so as with any public service, all the information is available." The commission invites the public virtually to its meetings on the stable token and posts the minutes to its website afterward.

Persons: Long, Gordon, Washington's, Mark Gordon, it's, Flavia, we've Organizations: CNBC, treasuries, Treasurys, State, U.S ., Treasury, Federal Reserve, Atlantic Council Locations: United States, Wyoming, Jackson, Jackson , Wyoming, Solana

☆ I lived in Silicon Valley, New York, and London as a founder. If you're looking for a place to build a business, there's one clear winner.
▼ + stars: | 2024-08-23 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +7 min

I've lived in the Bay Area, New York, and the UK while building and scaling Zyper. But if you want to be laser-focused without distractions, you can't beat the Bay Area. Particularly in the Valley, there's a propensity for very quickly backing "zero-to-one ideas" and creating something entirely new. Silicon Valley is special, and I plan to stayI moved Zyper to San Francisco right before the pandemic hit. AdvertisementThere are other emerging markets, like Korea, Brazil, and China, but I think there's something very special about the ecosystem and history of Silicon Valley.

Persons: —, Amber Atherton, I've, Zyper, Y Combinator, Y, it's, Michael Seibel, Everyone's, London's, There's, overregulate Organizations: Service, Business, Patron, Nvidia Locations: San Francisco, London, New York, Palo Alto, Bay, California, Zyper, Mountain View, Hong Kong, England, American, Delaware, . New York, York, Europe, Silicon Valley, Miami, Austin, Silicon, Korea, Brazil, China

☆ British fintech Revolut valued at $45 billion in secondary share sale
▼ + stars: | 2024-08-16 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

British fintech startup Revolut on Friday said it was valued at $45 billion in a secondary share sale with existing and new investors. The $45 billion transaction sharply increases the company's valuation from the $33 billion notched in July 2021. The valuation comes just weeks after Revolut was granted a banking license with restrictions in the U.K., ending a three-year wait after first applying for the license in 2021. The license allows Revolut to take customer deposits and issue products such as loans and credit cards. The company is now set to build up banking infrastructure in the U.K. before the official launch.

Persons: Revolut, We're, Nik Storonsky Organizations: Coatue, D1 Capital Partners, Tiger Global, U.K, Prudential, Authority Locations: Krakow, Poland, British

☆ Revolut secures new $45 billion valuation following secondary share sale with major investors as it targets a potential IPO
▼ + stars: | 2024-08-16 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Read previewRevolut has secured a $45 million valuation via a secondary share sale, despite a wider slump in fintech valuations. The London-based neo-bank, which recently secured a banking license in the UK, has signed agreements with institutional investors over a share sale that significantly boosts the company's valuation. That round came at the height of the tech market's COVID-19 boom, and Revolut has not raised primary capital from investors since. This secondary deal allows employees to profit from their stakes in the company and also cements the fintech as Europe's most valuable tech startup ahead of a prospective IPO. Revolut has 45 million customers and offers bank accounts, savings options, and trading in stocks and cryptocurrencies.

Persons: —, Revolut, We're, Nik Storonsky, SoftBank, Matt Cooper, Revulot, Cooper, Starling Organizations: Service, D1 Capital Partners, Tiger, Business, Prudential, Authority, Financial Times Locations: London, Europe

☆ Tencent-backed Airwallex hits $500 million annualized sales, aims to get IPO-ready by 2026
▼ + stars: | 2024-08-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Airwallex, which was most recently valued at $5.6 billion and is backed by Tencent, has been tipped as one of many prominent fintech IPO candidates. Tencent -backed payments startup Airwallex has reached an annual revenue run rate of $500 million and will look to get ready for an initial public offering by 2026, CEO and co-founder Jack Zhang told CNBC in an exclusive interview. In the Americas region, Airwallex grew its revenue by more than 300% year-over-year, according to figures shared with CNBC. The U.K., Europe, and North America now account for more than 35% of Airwallex's overall transaction volumes, Zhang said. "In 2025, we will prepare everything, and we can decide what to do after 2026," he added.

Persons: Tencent, Jack Zhang, Zhang, Airwallex, it's Organizations: CNBC Locations: Singapore, Europe, North America, Americas, Airwallex

☆ Here are Wednesday's biggest analyst calls: Nvidia, Tesla, Starbucks, Chipotle, Eli Lilly, Target, TJX Companies, Coinbase and more
▼ + stars: | 2024-08-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Stifel upgrades Starbucks to buy from hold Stifel upgraded the coffee chain following the management shakeup that included a new CEO. Jefferies upgrades Sportradar to buy from hold Jefferies upgraded the Swiss global sports tech company, saying it's becoming "increasingly attractive." Morgan Stanley reiterates Target as overweight Morgan Stanley said it's sticking with its overweight rating heading into Target 's earnings next week. Berenberg reiterates Eli Lilly as buy Berenberg raised its price target on the drugmaker to $1,050 per share from $1,000. TD Cowen upgrades Ilumina to buy from hold TD Cowen sees revenue growth ahead for the biotech company.

Persons: Wolfe, PulteGroup, rais, Brian Niccol, Baird, Tesla, it's bullish, Goldman Sachs, Goldman, Elliott, Wells, Equitrans, ETRN, Jefferies, it's, SRAD, Bernstein, Chipotle, Morgan Stanley, Berenberg, Eli Lilly, Lilly, circumspection, Ross, BURL, ROST, Oppenheimer, TD Cowen, mgmt Organizations: Stifel, RBC, Johnson, underperform RBC, Elliott Management, Barclays, Nvidia, JPMorgan downgrades Emerson, JPMorgan, Deutsche Bank, Deutsche, Ball Corp, Ball Corporation, Montrose Environmental, Stock, Intuit, Citi, Palo Alto, Bank of America, TJX Companies, Argus Locations: Florida, Underperform, Swiss, Montrose, QuickBooks, Burlington, Coinbase, China, Hershey

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Qualcomm, Robinhood, Starbucks, Disney & more
▼ + stars: | 2024-08-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: UBS reiterates Nvidia as buy UBS said it's sticking with Nvidia shares heading into earnings later this month. Wolfe downgrades Qualcomm to peer perform from outperform Wolfe said Apple's internal modem use is finally having an effect on Qualcomm. Jefferies upgrades Par Technology to buy from hold Jefferies said it's bullish on shares of the "pure-play" restaurant tech platform. " Deutsche Bank upgrades Eli Lilly to buy from hold Deutsche upgraded the stock following earnings last week. Bank of America upgrades Churchill Downs to buy from neutral Bank of America said it likes the racing company's growth pipeline.

Persons: Morgan Stanley, Disney, it's, Wolfe, Qualcomm, Wedbush, it's bullish, Jefferies, Walmart Evercore, Piper Sandler, Piper, HOOD, Goldman Sachs, Mills, Goldman, Canaccord, Mizuho, Cummins, Wells, PRU, Eli Lilly, Churchill, Jim Anderson Organizations: UBS, Nvidia, RBC, Ardent Health, Ardent Health Partners, Inc, Qualcomm, Jefferies, Technology, Walmart, HSBC, GE Vernova, GE, Micron, MU, Elliott, Bank of America, Liberty Global, underperform Bank of America, Liberty, Prudential, Allstate, Deutsche Bank, Deutsche, of America, " Bank of America Locations: Asia, Cupertino, Wells, Churchill

☆ Gen Z Women Are Getting Into Personal Finance Tips to Invest and Save
▼ + stars: | 2024-08-12 | by ( Emilie Friedlander | ) www.businessinsider.com time to read: +13 min

These women talk openly about being rich and wanting to help other women become rich too. She also launched a platform called Treasury, which says it has helped women invest over $80 million in the stock market. "I couldn't really find anyone who was teaching money the way that I wanted to learn it," Sacks said. And it's probably getting really smart about how you save money, taking the money that you are saving and investing it and building wealth." Young women, on the other hand, are turning to more tried-and-true tactics.

Persons: Dave Ramsey, Tori Dunlap, It's, Dunlap, Dow Jones, Simran Kaur, Rachel Rodgers, Z, Kaur, Zers, Haley Sacks, Sacks, Cartier, Kylie Jenner, Suze Orman, it's, they're, Rita Soledad Fernández Paulino, Leah Sheppard, Gen Zers, —, Rita Soledad Fernández Paulino Sacks, Kyla Scanlon, Scanlon, aren't, Fernández Paulino, weren't Organizations: Economic, Institute, Washington State, Carson College of Business, GameStop, Fidelity Investments, Federal Reserve's Survey, Consumer Finances Locations: Tacoma , Washington, Dunlap, Instagram, Zealand, York, California

☆ Venture capital's new reality check: 'A ton of people looking to get out everywhere'
▼ + stars: | 2024-08-09 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +12 min

PitchBook forecast in a May report that venture firms would raise less than $200 billion in 2024, a 48% drop from the industry's peak in 2021. "They may not see any carry dollars for a long time, maybe into full deployment to the next fund," the growth-stage principal said. AdvertisementBut this type of internal competition, including deal theft and sabotage, has always existed, the growth-stage principal added. 'A ton of people looking to get out everywhere'As the market continues to correct itself, more turnover is likely. "I know a ton of people looking to get out everywhere," the growth-stage principal said.

Persons: —, Michael Moritz, Combinator, they're, Will Champagne, it's, Ellis, Rebecca Zisser, VCs, Junior VCs, there's, Champagne, I'm, inbounds, I've Organizations: Service, Business, TechCrunch, Venture, Bay Area, Big Law, Kirkland, Haize Labs, Area, Junior

☆ Middle East wealth funds are scrambling to rescue their big bets on the future
▼ + stars: | 2024-08-08 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A particular focus for these funds built on the back of petrodollars has been to build ownership and influence in the tech sector. FETHI BELAIDOver the past week, PIF and Mubadala have been busy figuring out what to do when their unbridled ambitions for tech companies face reality. Reports from the Financial Times and Bloomberg have shone a light on efforts being made by the sovereign wealth fund to boost returns in European startups in which it has invested billions of dollars. AdvertisementSeveral of these nascent tech companies, such as the insurance firm WeFox, have been bruised by shifting sentiment in the markets in recent years.

Persons: —, Abu Dhabi's Mubadala, SoftBank's, ByteDance, Prince Mohammed bin Salman, Peter Rawlinson, Lucid, John Keeble, Rawlinson, PIF, it's, Mubadala Organizations: Service, Saudi, Public Investment Fund, Business, PIF, Financial Times, Bloomberg Locations: Middle, petrodollars, Saudi, California

☆ Banks face tough new security standards in the EU — their tech suppliers are under scrutiny, too
▼ + stars: | 2024-08-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

DORA requires banks, insurance companies and investment to strengthen their IT security. The EU regulation also seeks to ensure the financial services industry is resilient in the event of a severe disruption to operations. These IT providers often deliver "critical digital services to customers," said Joe Vaccaro, general manager of Cisco-owned internet quality monitoring firm ThousandEyes. This has made banks and other financial services providers more vulnerable to cyberattacks and other incidents. DORA will focus more on banks' digital supply chain — which represents a new, potentially less comfortable legal dynamic for financial firms.

Persons: DORA, DORA —, Charles Schwab —, Mike Sleightholme, Joe Vaccaro, Banks, Vaccaro, Sleightholme, it's, Carl Leonard, Leonard, Stephen McDermid, Okta, Fredrik Forslund, Blancco, there's, Forslund Organizations: Getty, Financial, European Union, CNBC, JPMorgan Chase, Santander, Visa, Broadridge, Cisco, EU, Data Locations: European, EU, DORA, noncompliance

☆ How to maintain friendships when you can't afford to go out: 'Know which relationships are valuable to you'
▼ + stars: | 2024-08-07 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +4 min

Look at how much money you're putting into each person with whom you spend time. "When you're reviewing your social spending, really luxuriate in the things that felt good," she says. Let's say you're going to expensive dinners once a month with a friend who makes you anxious. Perhaps it's worth cutting down how much time, and as result how much money, you're spending to maintain that relationship. Bernadette Joy, a self-made millionaire who paid off $300,000 of debt, cut down on social spending by hosting game nights.

Persons: Nashira Lynton, Amanda Clayman, Amanda, Lynton, Clayman, Bernadette Joy, Joy Organizations: Self, Bureau of Labor Statistics

☆ In an oversaturated market for AI companies, these startups have the best shot at surviving
▼ + stars: | 2024-08-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Investors highlighted their portfolio companies and startups they had no financial ties to. Leena Rao, who oversaw the list and leads BI's VCs and startups team, estimated about 80% of the startups included are focused on AI. AdvertisementiStock; BIAs differentiated as AI startups try to be, the market has undeniably become oversaturated. Big Tech reform is coming, but Washington won't be the one doing it. Congress can't or won't act, so people who want Big Tech companies to change their ways are trying to do it through the courts .

Persons: —, Kamala Harris, Tim Walz, Here's, Kimberly White, Chelsea Jia Feng, Leena Rao, BI's, That's, It's, Arindam Sandilya, Paul Dietrick, Oppenheimer, John Stoltzfus, Jenny Chang, Rodriguez, Adam Mosher, Mosher, YouTube's, Jimmy Donaldson, Alyssa Powell, Elon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Boldstart Ventures, TechCrunch, Healthcare, Getty, JPMorgan, FX, UBS, BI Prosecutors, Big Tech Locations: Minnesota, we're, Washington, New York, London

☆ A Gen Xer who retired early at 34 returned to work a decade later. He only lasted 4 months.
▼ + stars: | 2024-08-07 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Sam Dogen, 47, retired from his corporate job in 2012 and achieved FIRE status — an acronym for financial independence, retire early — but over a decade later, he returned to the office. Dogen wanted to return to work for extra income as his children got older and to contribute more to the Silicon Valley startup scene. He got a job as the head of content at a startup, where he wrote articles and newsletters. But within a few weeks, he already knew the job wasn't working out. He decided to leave his position and go back to being a stay-at-home dad — essentially retiring early for a second time.

Persons: Sam Dogen, Little, Dogen, Slack, —, you've, renegotiating, microaggressions, would've, he'd, I've Organizations: Service Locations: San Francisco

☆ India's ultra-wealthy club is booming — here's where the country's rich are investing
▼ + stars: | 2024-08-06 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +5 min

High-end real estateAbout 30% of India's UHNWI investments go into luxury real estate, including overseas projects, said Alok Saigal, president of wealth management firm Nuvama Private. People have moved away from investing in land as it is less liquid, and more wealth has been allocated to residential real estate since the pandemic, he added. Around 20% of Dubai's offshore real estate pie is owned by Indian investors. Startups' lureInvesting in startups is becoming increasingly popular, especially with the younger generation of rich Indians, wealth managers told CNBC. Bloomberg | Bloomberg | Getty ImagesAbout 17% of India's UHNWIs' wealth goes into luxury goods, with jewelry, art and watches as top preferences, findings from Knight Frank revealed.

Persons: Knight Frank, Alok Saigal, Alok, Chethan Shenoy, Anand, Saigal, Nitin Chengappa, India's, Chengappa, Anand Rathi Wealth's, LVMH Moet Hennessy Louis Organizations: Getty, India, Nuvama Private, Offshore, Nuvama, CNBC, Standard Chartered Bank, Shoppers, DLF, BMI, Bloomberg, Fitch Solutions, LVMH Moet Hennessy Louis Vuitton SA Locations: Mumbai, Beijing, New York, London, UHNWIs, Dubai, Delhi, New Delhi, India

☆ Ron Insana: Fed should reassure market it's ready to act, as this resembles late '90s foreign markets crises
▼ + stars: | 2024-08-05 | by ( Ron Insana | ) www.cnbc.com time to read: +3 min

First, when everything is being sold – and just about everything is being sold on Monday – someone is in big trouble. The spillover effect – exacerbated by a Federal Reserve reluctant to cut interest rates even as inflation cools – has put all assets on sale. This suggests that fears of a financial market problem are greater than those of a widening Middle East war. Should the situation become more tumultuous, the Fed could be forced into cutting interest rates between meetings. Indeed, when the Fed responded to the 1998 event by cutting interest rates , stocks went on a tear before topping out in 2000.

Persons: I've, Michael Gayed, Cashin, It's, Stanley Druckenmiller, Japan —, Ron Insana Organizations: Federal Reserve, Nikkei, UBS, Term Capital Management, CNBC Locations: Japan, Israel, Iran

☆ 23% of low-income Americans are living without a bank account
▼ + stars: | 2024-08-02 | by ( Genna Contino | ) www.cnbc.com time to read: +5 min

"When they don't see a financial institution or a bank, [they] tend to say, 'There's no avenue for me this way. Of 18- to 29-year-olds, 11% are living without a bank account, compared to 9% of 30- to 44-year-olds, 5% of 45- to 59-year-olds and 2% of people 60 and older, according to the Federal Reserve. People without bank accounts might also turn to check cashing services or consider payday loans, especially if they're the only brick-and-mortar financial services in their neighborhood. The Community Financial Services Association of America, which represents payday lenders, did not respond to a request for comment. "They're going out into the community, they're promoting their services into the community, they're creating programs specifically for the community," he said.

Persons: Sean Gladwell, Wole Coaxum, Joe Lugo, Lugo, that's, Darrin Williams, Williams, Harris, Winnie Sun, It's, Sun, Preston Duppins, Duppins, They're Organizations: Federal Reserve, Southern Bancorp, Inc, Finance, Sun, Wealth Partners, CNBC, Federal Deposit Insurance Corp, Federal Deposit Insurance Corporation, American Fintech Council, Wealth Management, Community Financial Services Association of America, Chamber, Commerce Locations: Clearwater , Florida, U.S, Irvine , California, Florida, Lugo, Pinellas County

☆ A millionaire early retiree earning $380,000 a year in passive income went back to work—but only lasted 4 months
▼ + stars: | 2024-08-02 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

Last year, after selling a chunk of his stock and bond portfolio to purchase a house in cash, Sam Dogen found himself with too little passive income to support his family's budget. It turned out, this particular gig didn't align with his personal or financial priorities at this point in his life. By last year, his passive income portfolio, which includes stocks, bonds and real estate investments, among others, was bringing in about $380,000 a year. "That shored up a huge hole in my passive income," Dogen says. That won't produce passive income unless Dogen reinvests it, but it gave him the cash cushion to paper over some short-term cracks in his finances.

Persons: Sam Dogen, Dogen Locations: San Francisco

☆ Stocks making the biggest moves premarket: Exxon Mobil, Intel, Apple, Snap, Amazon and more
▼ + stars: | 2024-08-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Exxon Mobil — The energy giant reported a stronger-than-expected profit for the second quarter amid record production in Guyana and the Permian Basin. Intel — Shares plunged 20% on the back of weaker-than-expected earnings and revenue for the second quarter. The company reported weaker-than-expected revenue for the second quarter and issued a disappointing forecast for the third quarter. The company posted second quarter adjusted earnings of 87 cents per share on revenue of $1.08 billion. In the second quarter, revenue came in at $1.45 billion, slightly above estimates of $1.40 billion, according to LSEG.

Persons: FactSet, Cloudflare, DoorDash, Clorox, LSEG, GoDaddy, Sarah Min, Samantha Subin, Lisa Han, Michelle Fox Organizations: Exxon Mobil, Intel —, Revenue, Apple —, Apple, Twilio, Booking Holdings, Coterra Energy, LSEG . Revenue, Management Locations: Guyana

☆ Stocks making the biggest moves after hours: Apple, Amazon, Intel, Snap and more
▼ + stars: | 2024-08-01 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Apple reported fiscal third-quarter earnings of $1.40 per share while analysts polled by LSEG called for $1.35 per share. The company reported weaker-than-expected revenue for the second quarter and issued a disappointing forecast for the third quarter. Revenue in its cloud division increased 19% in the second quarter, beating analysts' estimates, however. In the second quarter, revenue came in at $1.45 billion, slightly above estimates of $1.40 billion, according to LSEG. Gross bookings for the second quarter came in at $41.4 billion, missing consensus estimates of $41.73 billion, per StreetAccount.

Persons: LSEG, DoorDash, Coinbase, Roku, Clorox, Coterra, GoDaddy, FactSet, Gross, —, Sarah Min, Yun Li, Samantha Subin, Tanaya Macheel, Darla Mercado Organizations: Apple Vision, Apple, Intel, Revenue, Management, LSEG, StreetAccount, Coterra Energy, Holdings Locations: Shanghai, China, LSEG .

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