Elon Musk's past 24 hours have shown troubling signs for his political and personal fortunes.
Tesla stock pops after report Musk will step back from government role 'in the coming weeks'
Tesla stock fell after poor delivery data, but was getting a boost in midday trade after a report said Elon Musk is set to step back from his intensive role in the Trump administration.
Rivian Beat The Street's Q1 Projections. Its Stock Fell Anyway.
Shares of Rivian fell despite the EV maker reporting first quarter data and a full-year outlook that aligned with its projections.
Edgewise Therapeutics Stock Plummets on Drug Trial 'Adverse Events'
Edgewise Therapeutics shares tumbled more than 20% Wednesday after the developmental drug company issued the results of its latest clinical trial.
Trump import taxes could fall heaviest on Midwest and Southeast, Richmond Fed says
New import taxes imposed or potentially in the offing from the Trump administration could raise the average effective tariff rate on goods coming into the U.S. from the current 2.2% to around 17%, while posing "widespread disruptions" focused on manufacturing industries in Midwestern and Southern states, a new analysis from the Richmond Federal Reserve has concluded. Some working estimates of the result of tariffs President Trump imposed in 2018 and 2019 were a net loss of jobs and output to the U.S. economy, the authors noted, with the current more aggressive set of tariffs risking damage also. "Ultimately, the proposed tariffs may raise input costs, disrupt supply chains and result in higher consumer prices, potentially outweighing any targeted employment gains in protected industries," Richmond Fed economists including bank vice president Sonya Waddell and senior economist Marina Azzimonti wrote.
Wall Street Giant DTCC Unveils Tokenized Collateral Platform in Crypto Push
DTCC is the latest traditional finance firm to tap tokenization and blockchain tech for operational gains.
Why nCino (NCNO) Stock Is Nosediving
Shares of bank software company nCino (NASDAQ:NCNO) fell 34.3% in the pre-market session after the company reported weak fourth quarter 2024 (fiscal 2025) results as its revenue and EPS guidance for next year fell short of Wall Street's estimates. The quarter was underwhelming, with sales roughly in line with expectations, while earnings missed by a wide margin. The results revealed a continued struggle to turn a profit and manage cash burn, while the guidance suggested a sharp slowdown in growt
Summers Says Trump Tariffs to Impose Oil-Shock Type Economic Hit
(Bloomberg) -- Former Treasury Secretary Lawrence Summers said the Trump administration’s looming tariff hikes are set to impose an oil crisis-like shock to the economy that shrinks its productive capacity — boosting both prices and unemployment.Most Read from BloombergMetro-North Is Faster Than Acela on NYC-New Haven Route After Signal UpdatesLondon Clears Final Hurdle for More High-Speed Trains to EuropeWhat Frank Lloyd Wright Learned From the DesertLocal Governments Vie for Fired Federal Work
Newsmax follows Trump Media in sparking meme stock frenzy
Shares of right-wing cable news outlet Newsmax have gained as much as 2,190% since its IPO debut on Monday.
OnlyFans founder, crypto foundation submit late-stage bid to buy TikTok
A startup run by Tim Stokely, founder of adult content social media site OnlyFans, has partnered with a cryptocurrency foundation to submit a late-stage plan to acquire short video app TikTok from Chinese owner ByteDance, the two said on Wednesday. The intent to bid was sent this week to the White House by Zoop, billionaire Stokely's new company, and the Hbar Foundation, which manages the Hedera cryptocurrency network's treasury. While OnlyFans is known mainly for pornography, Zoop is mainstream and family-friendly, and gives back the majority of its revenue to those who post on the site, rewarding them for driving up user engagement.