Zoom stock rallies 20% after earnings beat, improved profit forecast

Zoom Video Communications Inc. shares sounded in the extended session Monday after the videoconferencing company topped Wall Street’s earnings expectations and said it expects to be more profitable this year than it had initially expected. Zoom shares ZM, -0.46% surged 20% after hours, following a 0.5% decline in the regular session to close at $89.33. … Read more

Stocks rise to recover from bear market brink

US stocks rose Monday, with equities coming off a seven-week losing streak on more solid footing as investors shook off some recent volatility and digested fresh trade-related remarks from the Biden administration. The S&P 500 rose by nearly 1.9% by the end of the trading day, recovering after dipping into bear market territory during Friday’s … Read more

A Top Banker Slammed Policymakers’ Efforts To ‘Out-Hyperbole’ Each Other On Climate Change. The Bank Suspended Him.

Multinational bank HSBC suspended a senior executive after he blasted the tendency to overstate the financial risks of climate change to “out-hyperbole the next guy,” according to a Sunday report from Financial Times. At last week’s Financial Times conference, Stuart Kirk — the global head of responsible investing at HSBC’s asset management division — a … Read more

HSBC suspends exec Stuart Kirk over climate change remarks

British banking giant HSBC has suspended a top executive who argued during a recent public presentation that the financial risks of climate change were overblown and exaggerated by central bank officials and other policymakers. The suspended employee, Stuart Kirk, is global head of responsible investment at HSBC’s asset management division. He made the remarks during … Read more

Tax breaks aren’t prime reason for high-net-worth philanthropy

Maria Teijeiro | OJO Images | Getty Images Tax breaks aren’t the primary incentive for philanthropy among the ultra-wealthy, according to BNY Mellon Wealth Management’s inaugural Charitable Giving Study. The report, polling 200 individuals with wealth ranging from $5 million to more than $25 million, found the top three motivators were personal satisfaction, connection to … Read more

MainStreet’s valuation could fall 60% to $200 million amid investor recapitalization pursuit – TechCrunch

Weeks after laying off about 30% of its staff, MainStreet is said to be raising another round of funding at a $200 million valuation, sources tell TechCrunch. The news is significant in that MainStreet, which helps other startups uncover tax credits, raised $60 million in March of 2021 at a post-money valuation of $500 million. … Read more

Markets are down, but these charts explain why investors shouldn’t panic

new York CNN Business — What goes up must come down, and what goes bull must go bear. The conventional wisdom is that a bit of market madness is inevitable, cyclical and should give investors a potential buying opportunity. But unfortunately this downswing doesn’t appear to be the devil we know. Markets are contending with … Read more

S&P 500, Dow rise as banks, Apple offer support

Broadcom shares decline on potential VMware buyout JPMorgan rises on upbeat profit forecast Indexes: Dow adds 0.87%, S&P up 0.34%, Nasdaq down 0.33% May 23 (Reuters) – The S&P 500 and the Dow rose on Monday, led by gains in banks and Apple after a sharp selloff last week, while a slide in Tesla and … Read more

More cathartic selling needed for a stock market bottom

ozgurdonmaz/E+ via Getty Images Investors should be conservatively positioned as earnings expectations are reined in, putting more selling pressure on stocks, Jefferies says. The S&P 500 (SP500) (NYSEARCA:SPY) touched bear market territory intraday Friday, but managed to close out the session high and is up in early trading Monday. “Equity investors are about to see … Read more