Crude prices edged higher on Wednesday as Hurricane Idalia approached Florida, posing a risk to oil production in the Gulf of Mexico. Concerns Over Hurricane Idalia Continuous-contract futures for benchmark West Texas Intermediate crude increased by 0.8%, reaching $81.80 a barrel, which is the highest level seen since mid-August. Idalia has intensified into a Category 4 … [Read more...] about Oil Prices Rise as Hurricane Idalia Threatens Gulf of Mexico Production
Forex News
Zoom Exceeds Expectations with Strong Q2 Results
Zoom Video Communications Inc.'s stock surged in extended trading on Monday after the company surpassed expectations with its financial results and forecasts. Impressive Q2 Performance In the fiscal second quarter, Zoom reported a net income of $182 million, or 59 cents per share, on revenue of $1.14 billion. This marked substantial growth compared to the previous year's … [Read more...] about Zoom Exceeds Expectations with Strong Q2 Results
Fabrinet Surges 13% After Forecasting Strong First-Quarter Results
Shares of tech manufacturer Fabrinet (FN) soared 13% in after-hours trading on Monday following the company's impressive forecast for the first quarter. The strong results were driven by the success of their new AI products and data-communications sales during the previous quarter. Forecasted Sales Exceed Expectations Fabrinet, which specializes in providing high-tech … [Read more...] about Fabrinet Surges 13% After Forecasting Strong First-Quarter Results
PayPal Sees Opportunity in Adyen’s Analysis
PayPal Holdings Inc.'s stock has experienced a significant decline, dropping about 80% from its highest closing peak. However, an analysis of the recent earnings report from Dutch payment processor Adyen NV suggests that this could be good news for PayPal's stock. Adyen's report revealed an unsettling reality for the payments landscape, highlighting the lack of technological … [Read more...] about PayPal Sees Opportunity in Adyen’s Analysis
Changes to Governance of USDC Stablecoin
Coinbase Global and Circle Internet Financial, the co-founders of the $26-billion token USDC, have announced changes to how the stablecoin will be governed. This decision comes in light of "growing regulatory clarity" in the U.S. However, it is important to note that achieving complete regulatory clarity may still take years, and regulators are likely to increase their scrutiny … [Read more...] about Changes to Governance of USDC Stablecoin
