With a slew of earnings reports in the rearview mirror, and on the horizon, whether from big banks, the payment networks or the digital upstarts, a few common themes and conversations dominate. Among them: The state of the consumer, and by extension the lending landscape....
The month of March marked the ongoing return to pre-pandemic consumer spending, Mastercard said Wednesday (April 6) in its Spending Pulse report. “From airlines to lodging, spending on services is making its comeback, while in-store retail sales are rebounding as consumer mobility increases,” the report...
Apple and chipmaker Qualcomm have been bumped from J.P. Morgan’s list of most-preferred stocks, analysts said Friday (April 1), as demand continues to slow for smartphones, according to a Reuters report. Analysts cited new lockdowns in China related to the COVID-19 pandemic and the rising...
Shares of the online payment processing platform Paysafe plunged to a record low Thursday (Nov. 11) after disappointing third quarter revenues were reported, due in part to challenges in the digital wallet business, and lowered its profit forecasts for the year. According to published reports,...
Direct listings have been having trouble living up to the hype as several recent ones have slumped, Bloomberg reported. Among the biggest names that faltered was Coinbase, which went public in April and then faded afterward. It is now hitting prices below even its “reference...
The day traders buoying GameStop stocks are now moving into special purpose acquisition companies (SPACs), The Wall Street Journal (WSJ) reported. SPACs are blank-check companies that merge with other companies to take them public, and they’re rising over 6 percent on average in their first...
Robinhood, the stock trading app purporting to let anyone join in the market, answered questions in a blog post on why it had shut down certain securities like GameStop. The company said in the post it had to do with clearinghouse requirements. According to the...
Online brokerages Robinhood, Charles Schwab and others were hit by outages again as the markets continued to reel and amateur traders on Reddit fueled the rapid rise of GameStop and other stocks, according to reports on Wednesday (Jan. 27). Troubled video game retailer GameStop saw shares...
The hopes may have been that consumer spending had been on the rebound, entrenched enough to stay positive, enough to save the holiday shopping season, and maybe beyond. The pandemic may be enough to dash those hopes. We’re still in the thick of earnings season,...
