You Won Your Gun Case. You’re Fired.

Paul Clement Photo: Pool/Getty Images A 6-3 victory at the Supreme Court vindicating a constitutional right is usually cause for congratulations, but not these days at Kirkland & Ellis, the giant white-shoe law firm. The firm has rewarded partner Paul Clement for his triumph Thursday in the big New York gun-rights case (see nearby) by … Read more

Allianz Books Extra $2 Billion in Legal Expenses

Allianz ALIZF -1.78% SE has set aside an additional $2 billion for legal expenses related to ongoing settlements with investors in funds that sustained losses during the March 2020 market mayhem. The German financial giant said Wednesday it booked 1.9 billion euros, equivalent to about $2 billion, in legal provisions in the first quarter owing … Read more

This market strategist says stocks could gain 8% to 15% from here — giving anxious investors a perfect opportunity to sell

The US stock market’s huge decline on May 5 actually boosts the odds of a strong rally beginning soon, even if it won’t kick off a new leg of the bull market. That’s according to Hayes Martin, president of advisory firm Market Extremes. Over the years I have reported on Martin’s predictions of market turning … Read more

Who’s to blame for Thursday’s selloff? The Fed, and you, says this analyst

It’s not great that there’s a major central bank officially predicting an economic contraction. Nor is it terrific that US productivity fell by the most since 1947 on rising labor costs. And let’s throw in China doubling down on its zero-COVID policy, which doesn’t exactly lend confidence in the world’s number-two economy. But Thursday’s 3.6% … Read more

As Dow sinks over 1,000 points, signs of panic-selling emerge in stock market

Panicky behavior was starting to set in on Wall Street on Thursday, at least from a technical perspective, as the Dow industrials shed all of the previous day’s dramatic gains, and then some. Trading in New York Stock Exchange–listed stocks at midday Thursday exhibited panic-like selling action as bullish investors suffered a powerful reversal of … Read more

Why Is Bitcoin Falling? Prices Drop Amid Broader Market Tumble.

Bitcoin was trading around $37,000 Thursday. Rutmer Visser/Dreamstime Text size The price of Bitcoin, Ether, and other cryptocurrencies slumped on Thursday, reversing a recent rally as a deep selloff in the stock market spread to digital assets.. Bitcoin tumbled 6% over the past 24 hours to around $36,900, after ending 6% higher on Wednesday and … Read more

AMD hits a sales milestone and expects another one to follow as data-center strategy comes together

Advanced Micro Devices Inc. reported more than $5 billion in quarterly revenue for the first time Tuesday, and executives predicted their first $6 billion quarter will immediately follow as the acquisition of Xilinx Inc. solidified their data-center strategy. While reporting a 70% year-over-year revenue surge to a record $5.89 billion in the first quarter, AMD … Read more

Pfizer’s got its eye on more than the COVID-19 market

Pfizer PFE, +0.75% is already laying the groundwork for what the pharmaceutical behemoth will look like when revenue from its outsized COVID-19 vaccine and treatment franchise begins to wane. The company on Tuesday reiterated its expectation that Comirnaty, the COVID-19 vaccine it developed with BioNTech BNTX, +1.75%, is set to bring in $32 billion in … Read more

Uber and Lyft Stocks Tumble as Markets Seek Strong Profits

Text size Uber and Lyft face headwinds from driver supply and increasing gas prices. Timothy A. Clary/AFP via Getty Images We’re not in Kansas anymore. Shares of Uber Technologies (ticker: UBER ) and Lyft ( LYFT ) are tumbling after the ride-hailing companies both posted better-than-expected financial results. On Wednesday, Uber reported revenue growth of … Read more

‘Bubble stocks popped’ but it’s still not safe to buy them, says Ray Dalio, founder of world’s biggest hedge fund

A bubble has burst for emerging tech stocks, but that doesn’t mean its safe or smart to go long those names right now, warned billionaire investor Ray Dalio. Dalio, the founder and co-chief investment officer of Bridgewater Associates, the world’s largest hedge fund, warned in January that emerging tech companies, including set-top box maker Roku … Read more