Market reaction to Fed rate hike ‘almost always fake’

CNBC’s Jim Cramer said Friday that this week was the latest example of the market going crazy after a Federal Reserve meeting. But based on previous market reactions to the central bank’s previous rate hikes, this week’s activity may not prove to be very meaningful in the long run. The initial reaction to the Fed’s … Read more

Spire, Momentus face delisting warnings

Spire and Momentus received delisting warnings on Friday, according to the securities filings, as share prices of both companies traded below $1 per share. The companies have 180 days, or about six months, to get their share price back above $1 per share. Both companies noted the possibility of conducting a reverse stock split to … Read more

Blue Origin NS-23 malfunction caused by an overheated rocket motor nozzle

The moment of the anomaly during the New Shepard cargo mission NS-23, when the booster’s engine failed. Blue origin Jeff Bezos’ aerospace company Blue Origin has released findings from an investigation into the failed flight of a cargo mission last year, which it says was due to a problem in the rocket’s motor nozzle. The … Read more

SQ, DB, GME, ATVI and more

Jack Dorsey, chief executive officer of Square Inc., second right, gives a tour of the floor of the New York Stock Exchange (NYSE) in New York, USA, on Thursday, November 19, 2015. Jana Paskova | Bloomberg | Getty Images Check out the companies making headlines during midday trading. Block — Shares lost nearly 3%, after … Read more

Illumina’s directors were given additional insurance to close the Grail deal

Carl Icahn speaks at Delivering Alpha in New York on September 13, 2016. David A Grogan | CNBC Carl Icahn claimed on Friday that Illumina’s directors were demanding additional personal liability insurance before the biotech company signed a $7.1 billion acquisition of cancer test developer Grail in 2021. The claim is the latest development in … Read more

Depop, Poshmark secondhand resale is getting killer

Consumer culture on indie resale platforms has shifted as more sellers compete to meet demand and more inflation-weary shoppers hunt for deals. Negotiations, bidding wars, and upsell items are becoming more common on digital marketplaces like Depop and Poshmark. Major retailers like Target and H&M have tried to get in on the hand-me-down campaign by … Read more

Luminar’s CFO defends the lidar maker’s pricing and earnings

A Mercedes-Benz van retrofitted with different types of lidar systems, including Luminar’s Iris, to show the differences in the technologies. Michael Wayland/CNBC Lidar maker Luminar Technologies, stung by a recent Wall Street downgrade, is responding in an unusual way: going straight to shareholders. In a letter seen by CNBC Friday morning, Luminar CFO Tom Fennimore … Read more

Deutsche Bank is not the next Credit Suisse, analysts say as panic spreads

UBS’ bailout of Credit Suisse, in the wake of the collapse of US-based Silicon Valley Bank, has sparked contagion concerns among investors. This was reinforced by further monetary policy tightening by the US Federal Reserve on Wednesday. Deutsche Bank underwent a multibillion-euro restructuring in recent years to reduce costs and improve profitability. Deutsche Bank achieved … Read more

BofA’s Hartnett sees commercial real estate as the ‘next shoe to drop’

According to Bank of America, commercial real estate could be the next dangerous spot in America’s shaky financial sector. A warning sign: Spreads for commercial mortgage-backed securities are widest since May 2020 compared to government bonds, according to investment strategist Michael Hartnett. “CRE is widely seen as the next shoe to drop as lending standards … Read more