Author: Anthony M. Orbison
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So far, one of the biggest winners of the Q4 2024 earnings season has been Broadcom (AVGO) , whose market cap just topped $1 trillion last week.Don’t miss the move: SIGN UP for TheStreet’s FREE daily newsletterBroadcom has enjoyed an excellent year of steady growth as a leader in semiconductor technology design and manufacturing. With gains of 118% for the year, driven primarily by artificial intelligence (AI) technology progress, AVGO stock looks poised to close out 2024 on an extremely high note. While Broadcom’s gains for the year haven’t been as high as Nvidia’s (NVDA) , the AI-chip market may be…
Ethereum (ETH) has once again breached the $4000 level. The asset has rallied 1.4% in the daily charts, 8.1% in the weekly charts, 10.1% in the 14-day charts, and 30% over the previous month. ETH’s price has also risen by 80.5% since December 2023.Source: CoinGeckoAlso Read: Walmart is Yahoo’s Company of the Year: What’s It’s Stock Future?Why Is Ethereum Rallying?ETH has struggled to hold the $4000 price point this year. The second-largest crypto project by market cap breached the $4000 mark in March and earlier this month. Prices did not hold in both instances, and the asset quickly faced a…
Super Micro Computer’s (NASDAQ: SMCI) share price closed out the daily session down 8.3%. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) ended the day up 0.4%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) ended the session up 1.2%. Supermicro stock lost ground today following news that the company may be looking to raise funds through stock sales or new debt. The company’s share price likely also took a hit due to the stock being removed from the Nasdaq-100 index. After the market closed on Friday, Bloomberg reported that Supermicro had hired Evercore to help it raise new sources of capital. The report…
NEW DELHI/SINGAPORE (Reuters) – The approach from the Solar Energy Corporation of India (SECI) on Sept. 15, 2021 came out of the blue. The federal agency, tasked with developing the solar sector, wanted to know if the southeastern state of Andhra Pradesh would like to sign India’s largest renewables contract. Two years earlier, Andhra Pradesh’s energy regulator had said in a 10-year forecast the state had no short-term need for solar power, and should focus on other renewables that could provide 24-hour energy. But just a day after SECI approached the state government, the 26-member state cabinet led by Chief…
Ethena Labs announced the launch of its USDtb stablecoin, which will leverage BlackRock’s tokenized fund, USD Institutional Digital Liquidity Fund (BUIDL), for 90% of its backing.According to the Dec. 16 announcement, the partnership was facilitated by Securitize.USDtb will operate independently from Ethena’s existing algorithmic stablecoin, USDe, providing users and exchange partners with a stablecoin featuring a differentiated risk profile. Ethena’s Risk Committee has also approved USDtb as a potential backing asset for USDe, enhancing its ability to navigate volatile market conditions. USDtb design provides flexibility and risk mitigation across Ethena’s ecosystem and beyond, as Spark’s $1 billion Tokenization Grand Prix touts…
Dec. 17, 2024 1:09 AM ETEWJ, JEQ, FXI, PGJ, EWH, DXJ, CAF, FXY, USD, GXC, TDF, CHIQ, YINN, YANG, CQQQ, MCHI, CXSE, KWEB, ASHR, KBA, CWEB, BTC-USD, KURE, AS51, NKY:IND, SHCOMP, HSI, SENSEX, AUD:USD, NZD:USD, USD:KRW, JPY:USD, CNY:USD, INR:USD, HKD:USDBy: Meghavi Singh, SA News Editor tadamichi Asia-Pacific markets trade mixed on Tuesday as cautious traders anticipated interest rate decisions from major central banks, including the US Fed, this week. A monthly review of key lending rates in China will also take place in the coming days, following the PBoC’s move to Source link
The death of brick-and-mortar retail has continued in 2024 as several retailers have filed for Chapter 11 protection, while others are preparing to file for bankruptcy after the holiday season.Major retail chains that have already filed for Chapter 11 bankruptcy this year include discount retailer Big Lots, which filed its petition on Sept. 9 and sold its assets to private equity firm Nexus Capital Management for $760 million, which included $2.5 million in cash, debt payoff, and assumed liabilities. 💸💰 Don’t miss the move: Subscribe to TheStreet’s free daily newsletter 💰💸The debtor planned to close 550 of its 1,400 stores…
Este artículo también está disponible en español. Amid its historic price action, Bitcoin (BTC) has quietly hit a new all-time high (ATH) against gold. The insight was highlighted by veteran trader Peter Brandt in an X post. Bitcoin Hits New ATH Against Gold: Room For Further Growth? Brandt’s analysis revealed that the BTC-to-gold ratio has reached a new ATH of 32.19 ounces of gold per BTC. In his post, the seasoned trader also took a subtle dig at long-time gold advocate Peter Schiff, a vocal Bitcoin critic. Related Reading For those unfamiliar, the BTC-to-gold ratio measures Bitcoin’s performance relative to…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Argentina’s economy emerged from a severe recession in the third quarter of 2024 in a milestone for libertarian president Javier Milei in his bid to end the country’s long-running crisis.GDP expanded 3.9 per cent from July to September in seasonal-adjusted terms compared with the previous quarter, marking Argentina’s first quarter of growth since it entered recession in late 2023, the country’s statistics agency said on Monday.Compared with the same period in 2023, GDP for the third quarter contracted 2.1 per cent.The rebound…