All Stock market stories

Ben Geman, author of Generate
Oct 26, 2021 - Economy & Business

Sweetgreen weighs climate risk in IPO filing

Illustration: Shoshana Gordon/Axios

Eco-conscious salad chain Sweetgreen's new filing with regulators to go public offers a window onto how companies must grapple with climate risks to the food system.

Driving the news: Sweetgreen's paperwork, like other pre-IPO filings, lists potential headwinds. Climate change is among them.

Felix Salmon, author of Capital
Oct 26, 2021 - Technology

Facebook's scandals have been great for shareholders

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Data: YCharts; Chart: Axios

Facebook has been embroiled in scandal for the past five years, and while the specific allegations change over time, a central theme is constant. Given the choice between commercial and moral imperatives, Facebook always seems to choose the option that is best for the share price.

Why it matters: Facebook's stock chart supports that narrative. Since the 2016 scandals alleging that the social network was infiltrated by foreign actors trying to influence the outcome of democratic elections, Facebook's revenues — and its stock — have been soaring.

Dan Primack, author of Pro Rata
Oct 22, 2021 - Economy & Business

Roller coaster day for Trump SPAC stock

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Source: YCharts; Chart: Axios Visuals

Friday was a bumpy one for the SPAC that recently agreed to take Donald Trump's new media company public, at one point gaining more than $4.5 billion in market value.

Inside the numbers: Shared of Digital World Acquisition Corp. (Nasdaq: DWAC) closed at $45.50 on Thursday, the first day of trading after the Trump announcement, and then opened at $118.79 on Friday before hitting a high of $166.64.

Fed revamps rules for officials, restricts trades after controversies

Federal Reserve Chairman Jerome Powell. Photo: Kevin Dietsch/Getty Images

The Federal Reserve on Thursday announced significant changes to its rules regulating officials' financial activities following controversy last month over some officials' past trading practices.

Why it matters: The rule revamp is a coda to the biggest scandal to hit the Fed in recent memory.

Bitcoin-based ETF launch marks crypto's new headway in U.S. markets

Illustration: Shoshana Gordon/Axios

Cryptocurrencies made new headway into mainstream U.S. markets today with the launch of a bitcoin-based ETF on the New York Stock Exchange.

Why it matters: The ProShares Bitcoin Strategy ETF, ticker symbol BITO, is the first-ever ETF that gives investors exposure to bitcoin — without needing those investors to actually hold the digital coin.

Oct 19, 2021 - Economy & Business

Netflix beats subscriber estimates following success of "Squid Game"

Illustration: Rebecca Zisser/Axios

Netflix on Thursday said it added 4.4 million subscribers globally last quarter, which not only beat Wall Street expectations, but also marked the first time that the company reported positive subscriber gains in the past six months.

Why it matters: The tech giant credits a more normalized content release schedule last quarter for the gains. It blamed subscriber slowdowns during the past two quarters on COVID-related production delays.

SEC debunks conspiracy theories about meme stock mania

Photo: Alessia Pierdomenico/Bloomberg via Getty Images

The SEC issued its long-awaited report on the meme stock mania, which downplayed the narrative that a "short squeeze" was the primary driver behind GameStop's historic stock moves — and shot down conspiracy theories about the event.

Why it matters: The postmortem was highly anticipated, largely because of what it could hint about what the regulator thinks should be done in wake of the saga. But the report stopped short of specific policy recommendations.

ProShares launching Bitcoin ETF linked to futures market

Illustration: Aïda Amer/Axios

ProShares will debut Tuesday on the New York Stock Exchange an exchange-traded fund linked to bitcoin futures that trade on the Chicago Mercantile Exchange, according to the New York Times.

Why it matters: While it's not a true "Bitcoin ETF," with direct holdings of the digital token, ProShares' fund could be a first step in the SEC finally approving one after years of passing on or delaying all proposals.

Banks see borrowing return

Data: FactSet; Chart: Axios Visuals

Lending profits helped boost Bank of America's and Morgan Stanley’s third quarter. 

  • Net interest income jumped 10% and 52%, respectively, over last year, the companies reported this morning. 
Felix Salmon, author of Capital
Oct 8, 2021 - Economy & Business

U.S. economy adds just 194,000 jobs in September

A Winn-Dixie supermarket in  Florida. Photo by Joe Raedle/Getty Images

America registered disappointing job growth for the second month in a row.

By the numbers: Just 194,000 jobs were created in September, a significantly slower pace than the 366,000 number a month earlier. Economists had been hoping and expecting to reach at least 500,000 this time around.