Coinbase lays off 18% of workforce as executives prepare for recession and ‘crypto winter’
Coinbase is laying off almost a fifth of its workforce amid a collapse in crypto prices.
Stocks making the biggest moves in the premarket: Continental Resources, Oracle, National Vision and more
Names on the move ahead of the open.
Coinbase will struggle to turn a profit in crypto downturn, JPMorgan says in downgrade
Coinbase has fallen in tandem with crypto, dropping about 70% year to date.
Billionaire-founder Harold Hamm offers to take Continental Resources private in $25 billion deal
Shale producer Continental Resources said on Tuesday it has received a $25 billion all-cash buyout proposal from its founder Harold Hamm.
Bank of America downgrades Best Buy, says sales could revert to pre-pandemic levels
Best Buy has already been beaten down this year, with its stock falling more than 30%.
Deutsche downgrades Hewlett Packard Enterprise, citing potential slowdown in IT spending
HPE has outperformed other tech stocks this year, but it could see slowing growth, according to Deutsche Bank.
American Airlines regional carriers hike pilot pay more than 50% as shortage persists
Two American Airlines-owned carriers will give pilots big raises to slow attrition that is crimping flight growth.
Credit Suisse says Chesapeake Energy is undervalued based on its cash flow, shareholder returns
Credit Suisse initiated coverage of Chesapeake Energy with an outperform rating.
Bitcoin’s plunge spells trouble for the dot-com era entrepreneur who went all in
A $4 billion bet on bitcoin by software firm MicroStrategy is in jeopardy after the cryptocurrency’s recent plunge.
European stocks choppy as investors assess recession risk
European stocks were choppy on Tuesday after sharp declines in global markets to start the week.