Bitcoin prices jump after Japanese online broker reportedly makes bid for a crypto exchange
Bitcoin prices rose above $7,400 Tuesday after reports that Japanese online brokerage firm Monex Group is looking to take over a recently-hacked Japanese cryptocurrency exchange Coincheck. The Japanese company plans to bid several billion yen for a majority stake in...
Trump jabs Amazon for a fourth time in a week, saying the post office loses billions serving retailer
President Donald Trump took to Twitter for the fourth time in one week to bash e-commerce company Amazon on Tuesday. This time, the president reinforced his assessment that Amazon’s business is costing taxpayers “many billions of dollars” through subsidized rates...
Shares of cryptocurrency play Longfin drop 30% after disclosing SEC investigation
The U.S. Securities and Exchange Commission is investigating trading activity in shares of Longfin, a tiny stock that surged astronomically in December after the firm announced a cryptocurrency-related acquisition, the company disclosed late Monday. Longfin shares, which go by the...
Disregard Trump’s Amazon ‘chatter’ and buy shares, Wall Street analyst says
Tax changes at Amazon would have “limited impact” on the e-commerce company’s profits despite a steady barrage of negative tweets from President Donald Trump, Piper Jaffray told clients Tuesday. Though revisions to the company’s tax policy remain unlikely, analyst Michael...
Small-business hiring falls to lowest level in over 7 years
Small-business hiring in March fell to the lowest point in over seven years, while hourly earnings grew steadily, a report from human resources firm Paychex said Tuesday. The Small Business Jobs Index decreased 0.12 percent from last month and 1.07...
A ‘big puke’ is coming in markets — Nick Colas breaks down new survey results
A fresh poll suggests Wall Street optimism is very much alive — even as the S&P 500 and the Nasdaq fall into correction territory for the second time this year. DataTrek Research’s Nick Colas just finished a special market survey...
Bitcoin’s market value should fall by more than a third before year-end, Swiss researchers say
The growth of new active bitcoin users is slowing, which by “Metcalfe’s law” indicates that the cryptocurrency’s market capitalization will not grow as quickly as it has, some Swiss researchers said. Metcalfe’s law says the value of a network is...
Bitcoin climbs back above $7,000 even as stocks fall
Bitcoin prices rallied above $7,000 on Monday after shedding 25 percent last week, as major U.S. stock markets fell. The digital currency gained more than $500 from Easter Sunday, according to data from CoinDesk. Bitcoin traded at $7,004 as of...
Fitbit shares plunge 9% after Morgan Stanley downgrades: ‘Hard to see a floor’
Fitbit fell sharply Monday after Morgan Stanley downgraded the stock, warning clients that it’s “hard to see a floor” for the price of company shares despite new technology. “We see more downside to the stock as revenues struggle to stabilize...
Biotech stock Alkermes plunges 20% after FDA refuses to review its depression treatment
Shares of biotech company Alkermes dropped Monday after announcing the U.S. Food and Drug Administration refused to review the firm’s drug for treating depression. The stock tumbled 21.96 percent to $45.23 a share, its worst day since Jan. 21, 2016....
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