“We believe this will enable all of our businesses to become more agile, improve their business decision-making, and respond more quickly to market changes,” CEO Daniel Zhang told investors. Hong Kong-listed shares of Alibaba rose nearly 3% at market open about an hour after the call ended. China’s regulatory crackdown on its tech companies, which … Read more
A view of a Canadian sportswear retailer’s Lululemon logo seen in one of their stores. Alex Tai | light flare | Getty Images Check out the companies making headlines on Wednesday at noon. Lululemon – Shares of the activewear company soared more than 13% after the company reported strong holiday quarter earnings and revenue that … Read more
Micron Technology headquarters in Boise, Idaho on March 28, 2021. Jeremy Erickson | Bloomberg | Getty Images Check out the companies making headlines on Tuesday at noon. PagSeguro – Shares jumped 5.3% after Citi upgraded Brazilian payment stock to buy from neutral. The company called the company’s fourth quarter results unsurprising and said it was … Read more
The Asia-Pacific private equity market fell last year as investors’ appetite for risk plummeted in the face of inflation and geopolitical tensions, according to Bain & Company. Total deal value for the region fell 44% to $198 billion in 2022, the global management and advisory firm said in a report on Tuesday. That’s compared to … Read more
Total deal value for the region fell 44%, from $354 billion in 2021 to $198 billion in 2022, Bain & Co said in a report released Tuesday. China and India accounted for a $35 billion drop in total deal value for large growth deals for the year, he said. The Asia-Pacific private equity market fell … Read more
A Mercedes-Benz van fitted with different types of lidar systems, including Luminar’s Iris, to highlight the differences in technologies. Michael Wayland/CNBC Lidar maker Luminar Technologies, stung by a recent Wall Street downgrade, is responding in an unusual way: by going directly to shareholders. In a letter seen by CNBC on Friday morning, Luminar chief financial … Read more
Regional banks shouldn’t be the only cause for concern over the potential fallout from the rapid pace of Federal Reserve interest rate hikes over the past year, a former top banking regulator said. “I don’t see regional banks as having a particular problem,” said Sheila Bair, who ran the Federal Deposit Insurance Corp. from 2006 … Read more
As of 4 p.m. ET, the Dow Jones Industrial Average added about 380 points, or 1.2%, and the S&P 500 rose 0.9%. The technology-focused Nasdaq Composite climbed 0.4%. The indices fell on Friday but have been relatively insulated from the banking crisis so far. Authorities sought to stem a dangerous decline in confidence in the … Read more
The Silicon Valley Bank collapse and banking crisis is “an excellent case study” for clients, says a financial adviser. When Silicon Valley Bank could not cover its customers’ withdrawal requests, it was forced to sell its Treasury bills before maturity at a steep loss. “The first line of defense should always be money,” says Lazetta … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
