Author: starbpo

Affirm Holdings Inc. is adding new payment plans to give customers who get paid every two weeks or once a month more options and help them save money. With one of the new options, customers can pay in two installments. With the other, they can pay back the full amount whenever they can within 30 days, with no interest. At the moment, users can choose to pay in four interest-free installments or every month, with or without interest. Vishal Kapoor, who is in charge of products at the company, said in an interview, “People love choices, especially at the checkout.”…

In the past few years, it hasn’t been easy to buy PayPal Holdings Inc. shares, but on Thursday, the stock gained ground. Mizuho analyst Dan Dolev says there are two main reasons for this. When he spoke to investors late Wednesday, CEO Alex Chriss sounded optimistic. It’s also possible that investors are starting to see the chance in PayPal’s (PYPL, +5.49%) new Fastlane product, which is meant to make guest checkout faster. The price of PayPal’s stock went up 5.5% on Thursday, the most in a single day since January 19, when it went up 6%. The stock also gained…

The long-term debt ratings of Old National Bancorp and a number of other U.S. regional banks are being looked at by Moody’s Ratings for possible downgrade because of worries about their exposure to commercial real estate. The following banks were all affected by the news from Moody’s on Thursday: WaFd WAFD, -0.47%; Peapack-Gladstone Financial PGC, -1.03%; F.N.B. FNB, +0.30%; Old National Bancorp ONB, -0.30%; First Merchants FRME, +0.66%; and Fulton Financial FULT, +0.30%. As a regional bank with a large concentration in commercial real estate (CRE) loans, it faces ongoing asset quality and profitability pressures as higher-for-longer interest rates heighten…

There are three U.S. stocks that make up more than 20% of the value of the S&P 500 for the first time since at least 2000. These are Microsoft Corp., Nvidia Corp., and Apple Inc. According to data from Bespoke Investment Group, this means that just three stocks in the index are worth more than all of its other components put together. Some historical data shows that higher concentration is usually accompanied by better returns for the S&P 500 SPX. However, the quick rise in value of a few of the biggest stocks is starting to worry some investors, even…

The numbers: The productivity of American workers increased by an annual rate of 0.2% in the first quarter, according to a revised report released by the government on Thursday. Initially, the increase was reported as 0.3% last month. Economists surveyed by the Wall Street Journal had anticipated no change in productivity for the first quarter. This modest gain is a significant drop from the average 2.8% growth rate seen over the four quarters of 2023. Key details: The output, or the total goods and services produced, was weaker than initially reported, with the increase adjusted down to 0.9% from 1.3%.…

“I believe the Trump economic agenda is likely to significantly increase inflation,” said Larry Summers, a prominent Democratic economist, during an event at the Economic Club of New York alongside Republican economist Glenn Hubbard on Tuesday. Summers identified several of Donald Trump’s proposed policies that he believes will raise prices, expressing concern about the lack of respect for the Federal Reserve’s independence, signals favoring a weak dollar, tax cuts without corresponding spending cuts, and the implementation of significant tariffs not seen in the last fifty years. Summers referenced an April report suggesting that some of Trump’s allies have ideas that…

House Republicans are renewing efforts to reduce the Internal Revenue Service’s budget, with a committee suggesting a bill that would cut $2.2 billion, nearly 18%. Most of this reduction — $2 billion — would come from the tax agency’s enforcement budget. The bill “reduces wasteful spending and aims to stop agencies like the IRS from unfairly targeting hardworking Americans,” said Rep. Dave Joyce, an Ohio Republican and chair of the House Appropriations Committee’s subcommittee for financial services and general government, in a statement on Tuesday. Democrats disagree. Their primary concerns involve enforcement. The Inflation Reduction Act, a Democratic law passed…

Despite strong quarterly results, DocuSign Inc.’s stock declined in after-hours trading on Thursday. DocuSign (DOCU) reported fiscal first-quarter net income of $33.8 million, or 16 cents per share, compared to breaking even in the same period last year. Adjusted earnings per share were 82 cents, surpassing the FactSet analyst estimate of 79 cents. Revenue increased by 7% to $709.6 million, slightly higher than the expected $707 million. CEO Allan Thygesen stated that the company has “continued to stabilize the business and improve profitability, allowing Docusign to continue investing for long-term growth.” Despite this, the stock fell over 6% in extended…

Cynthia Petion claimed she had a “vision from God” while brushing her teeth that inspired her to create a crypto investment platform. In 2019, she founded NovaTechFX and appointed herself “Reverend CEO,” targeting churchgoing Haitian-Americans with promises of up to 200% returns within a year. Over three years, investigators say Petion and her husband, Eddy, amassed $1 billion in cryptocurrency investments through a Ponzi scheme that exploited tens of thousands of primarily poor immigrant investors, according to New York Attorney General Letitia James. As the scheme neared collapse in 2022, the Petions sold their Florida home and moved to Panama…

The 10-year Treasury yield has dropped to an important level. If it continues to decline, certain stocks could benefit significantly. The yield has decreased to around 4.3% from a peak of about 4.7% earlier this year. With economic growth and inflation indicators slowing, bond returns have become more appealing, pushing bond prices up and yields down. A further drop in the yield could suggest it will stay lower for an extended period. Currently, it’s holding just above 4.2%, a level where sellers have previously driven the price lower and the yield higher. If it falls below this point now, it…