Klarna is in talks to raise funds at a sharp discount to its last valuation, according to a report from the Wall Street Journal. A spokesperson for the firm said it does not comment on “speculation.” Jakub Porzycki | NurPhoto via Getty Images With hype over the “buy now, pay later” trend fading, some investors … Read more
Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, US, on Wednesday, April 14, 2021. Michael Nagle | Bloomberg | Getty Images Coinbase shares fell on Wednesday after rival crypto exchange Binance.US said it’s dropping certain trading fees for customers. Binance.US, the US affiliate of the … Read more
Buy now, pay later services grew up during a time of economic stability, with demand ballooning in the early days of the pandemic as bored consumers shopped to break the doomscrolling cycle. The services — Affirm , Afterpay, Klarna and more — allowed shoppers to purchase new patio furniture, comfy clothing and other goods they … Read more
FILE PHOTO: Shoppers exit a Target store during Black Friday sales in Brooklyn, New York, US, November 26, 2021. Brendan Mcdermid | Reuters Check out the companies making headlines in midday trading. Target – Shares of the retailer fell more than 4% after the company said it will take a short-term hit to profits as … Read more
Apple Pay Later Courtesy: Apple Inc. Apple is turning into a fintech company. The company announced several new features for the iPhone’s Wallet app at its developers conference Monday that directly compete with products from other fintech companies like Affirm and PayPal. The big one: a buy now, pay later service called Apple Pay Later. … Read more
Take a look at some of the biggest movers in the premarket: Target (TGT) – Target announced a series of moves to “right-size” its inventory levels, including additional markdowns and canceling orders. It cut its operating margin guidance for the current quarter to 2% from the prior 5.3% but said the margin would recover to … Read more
Here are Friday’s biggest calls on Wall Street: Baird upgrades Comerica to outperform from neutral Baird said in its upgrade of the bank that it sees an attractive entry point. “Upgrading CMA to Outperform, bank sell-off starting to create opportunities. After banks and the related ‘rate trade’ benefitted from being the fashionable January / February … Read more
Shoppers walk in front of a Target store at the Lycoming Crossing shopping plaza in Muncy, Pennsylvania. Sopa Images | Lightrocket | Getty Images Check out the companies making headlines in midday trading. Target – Shares plunged 25.6% after the retailer reported disappointing quarterly results, citing high fuel costs and inventory troubles. Target posted an … Read more
Twitter CEO Jack Dorsey addresses students during a town hall at the Indian Institute of Technology (IIT) in New Delhi, India, November 12, 2018. Anushree Fadnavis | Reuters Block executives no longer want the firm to be seen as a payments pure play. The San Francisco-based company held its first investor day in five years … Read more
Here are Wednesday’s biggest calls on Wall Street: Goldman Sachs upgrades Endeavor Group to buy from neutral Goldman said it sees an attractive entry point into the media and talent company. “Shares of Endeavor have traded down 30% since its IPO and 45% YTD driven by i) fundamental concerns that a weakening economy will impact … Read more