Hardly anyone, including the company’s fans, would call California-based neo-banking firm SoFi Technologies (NASDAQ:SOFI) a winner in 2022. SOFI stock lost a great deal of value that year, but this could be a setup for a multi-bagger recovery. Indeed, at least one Wall Street expert sees a favorable reward-to-risk ratio for SoFi Technologies’ investors. So,
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Baxter International Inc. said Friday it plans to embark on a tax-free spin off to shareholders of its Renal Care and Acute Therapies unit into a public company within the next 12-18 months. The company also warned it would unveil a restructuring plan on Feb. 9 when it reports its fourth-quarter results. The details of its
SEOUL — Samsung Electronics Co. 005930, +0.52% said it expects its fourth-quarter profit to plunge as the firm’s mainstay memory-chip and smartphone businesses face a sharp pullback in demand, showing the extent of the global tech downturn after pandemic highs. The South Korean tech giant on Friday forecast its operating profit in the quarter ending Dec. 31 to
Excitement over recent insider buying has cooled down, but there’s something else that may have some investors interested in SoFi Technologies (NASDAQ:SOFI) stock. SOFI has been affected by many factors, but the continued “student loan saga” has played a major role in the fintech stock’s slump over the past six months. This “saga” will come
Salesforce.com Inc. investors are facing the company’s first big pothole on the road to slower growth, just as they have recently put all their faith into co-founder Marc Benioff amid a slew of departures by top executives. On Tuesday, the cloud-based software company confirmed that it will cut 10% of its workforce, which totaled 73,541 as
To put it bluntly, Meta Materials (NASDAQ:MMAT) investors got the ground-and-pound treatment last year. It certainly didn’t help to lift anyone’s spirits when a notable stakeholder divested tens of thousands of shares of MMAT stock. On the other hand, it’s still a good idea to start a small position in Meta Materials. If all goes according
Amazon.com Inc.’s AMZN, -0.79% layoffs will affect more than 17,000 employees, a higher number than the company initially planned and one that would represent the most reductions revealed so far at a major technology company, according to people familiar with the matter. The Seattle-based company in November said that it was beginning layoffs among its
The S&P 500 generated a total return of -19.44% in 2022, its worst calendar-year performance since 2008. Not surprisingly, given that the energy sector was the only sector in positive territory this past year, up 59%, nine out of the 10 top stocks in 2022 were oil and gas-related businesses. Very early in the new year, investors
Salesforce Inc. plans to cut about 10% of its staff as part of a restructuring plan, the software company said Wednesday. The company will also exit some real estate and cut back on office space, it disclosed in a filing with the Securities and Exchange Commission. The plan is aimed to reduce operating costs, boost
Top House Republican Kevin McCarthy was hitting resistance in his push to become his chamber’s next speaker, as he came up short in three rounds of voting on Tuesday. A fourth round of voting is expected, but the House voted on Tuesday evening to adjourn until Wednesday. In the third vote, the number of Republican
There’s no denying it: California-based electric vehicle (EV) manufacturer Mullen Automotive (NASDAQ:MULN) will have to prove its value to the shareholders in 2023. MULN stock could still have powerful upside potential, but financial traders must be nimble. In light of certain developments surrounding Mullen Automotive, it’s wise to time your entry point carefully. On one
Bond yields fell on Tuesday as U.S. investors returned from the festive break with concerns about a slowing global economy driving the action. What’s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.361% fell 7 basis points to 4.353%. Yields move in the opposite direction to prices. The yield on the 10-year Treasury TMUBMUSD10Y, 3.760%
Cameron Winklevoss, co-founder of crypto exchange Gemini Trust Co., lashed out at Digital Currency Group CEO Barry Silbert on Monday, accusing him of “bad faith stall tactics” over nearly a billion dollars’ worth of customers’ crypto assets that have been frozen for more than a month. In an open letter posted on Twitter, Winklevoss alleged
In recent coverage of Alphabet (NASDAQ:GOOG,NASDAQ:GOOGL), I’ve taken a downbeat view on the tech giant’s near-term prospects. For instance, as I argued on Dec. 21, current economic headwinds, plus rising competition, could continue to impact the company’s growth, resulting in subpar returns for GOOG stock in 2023. That said, there’s a possible path Alphabet’s management
Democrats released six years of Donald Trump’s income-tax returns on Friday, providing further insight into the former president’s tax situation. Trump and his wife, Melania, paid $0 in income taxes for 2020, according to a report released late Tuesday by the congressional Joint Committee on Taxation. The nonpartisan committee’s findings also raised several red flags
Dear Quentin, By the time I was 19, both of my parents had passed away. My mom died from heart disease and my dad died two years later from lung cancer. My sister and I were quite close, but her alcoholic husband was always “stirring the pot” and for that reason I distanced myself. I
Dear Quentin, My mother and father had a rocky part of their marriage in their early 60s. They actually separated for about six months. My mother had some mental-health issues that caused the separation. My dad is nearly 72 and my mother passed away eight years ago. My dad worked in a different town for a
Beating the stock market is not that big of a deal. What’s really impressive — and what you should be looking for when using performance scoreboards to choose a mutual fund — is one that has beaten the market over several successive periods. To understand why, it’s helpful to imagine a world in which stocks
Many Americans are ending the year feeling gloomy about their finances, and you don’t need to be a psychiatrist to figure out why. Runaway inflation gnawed through household budgets as prices soared on everything from eggs to plane tickets. Higher interest rates made borrowing money more expensive, pushing home ownership out of reach for many.
Treasury yields moved mostly higher in a holiday-shortened session Friday, capping a brutal, record-breaking bond-market selloff in 2022. Trading in U.S. fixed-income markets closed an hour early at 2 p.m. Eastern on Friday, as recommended by securities industry trade group Sifma. U.S. markets will be closed Monday in observance of the New Year’s Day holiday,