UBS & Credit Suisse Shares Sink Following Bailout Deal

UBS and Credit Suisse both saw their shares spiral after the former agreed to an emergency rescue of the latter.  Shares of Swiss banking giants UBS and Credit Suisse plunged substantially following a takeover of the latter. On Monday morning, UBS secured a 3 billion Swiss franc ($3.2 billion) bailout of its troubled domestic rival amid the global banking crisis. … Read more

Marathon Digital (MARA) Shares Up 7% though Firm Reports Lower Q4 2022 Revenue

Marathon Digital has also revealed the nature of its exposure to the now-defunct crypto-focused Silvergate Bank. Embattled Bitcoin (BTC) mining firm, Marathon Digital Holdings Inc (NASDAQ: MARA) has released its performance report for the fourth quarter (Q4) of 2022 in which it unveiled a poorer-than-expected revenue. According to the firm, its revenue came in at … Read more

Virgin Orbit (VORB) Shares Down Over 40% with Company Furloughing Almost Entire Staff

As of the end of Q3, Virgin Orbit has $71.2 million in cash and $30.9 million in revenue. Shares of aircraft engineering company Virgin Orbit Holdings Inc (NASDAQ: VORB) dropped by 33% in extended trading as the company is discharging nearly all its workers. According to people familiar with the matter that spoke to CNBC, … Read more

Baidu Shares Fall 6% as CEO Unveils AI Chatbot to Rival OpenAI’s ChatGPT 

Baidu recently saw its shares take a massive hit following a pre-recorded unveiling demo of ChatGPT rival Ernie bot.  The shares of Chinese multinational tech company Baidu plunged to an 8-week low after the company unveiled a ChatGPT rival. On Thursday, Baidu provided a sneak peek into the functionality of its Chinese-language bot but also forewarned of … Read more

First Republic (FRC) Shares Rebound 40% Following Monday Selloff

First Republic recently saw its shares jump 20% as the market still recovers from the collapse of Silicon Valley Bank.  The shares of First Republic Bank (NYSE: FRC) spiked 40% on Tuesday. FRC’s ascension also came amid an ongoing rebound among other regional banks from yesterday’s sell-off. On Monday, the SPDR S&P Regional Banking ETF (KRE) … Read more