Victor J. Blue | Getty Images News | Getty Images AMC Entertainment raised about $250 million of new equity capital, completing the sale Monday during the revived meme stock craze triggered by the return of “Roaring Kitty.” The movie theater operator sold 72.5 million shares in an at-the-market equity offering that it launched on March 28. AMC sold those shares at an average price of $3.45 per share before commissions and fees, the filing said. AMC shares soared another 100% in premarket trading Tuesday following news of the stock sale. AMC shares opened at $3.52 on Monday, up about 21%…
Author: insighter
Most people have probably fibbed at some point in their lives — to avoid hurt feelings, impress others or just stay out of trouble. But some Americans have gone beyond a harmless white lie, opting to distort reality on an insurance application. More than 1 in 5 Americans (21%) admit to intentionally providing incorrect information on an insurance application, according to a new NerdWallet survey. The youngest U.S. adults, Gen Zers (ages 18-27), are most likely to say this — 42% say they’ve lied on an insurance application, compared to 28% of millennials (ages 28-43), 17% of Gen Xers (ages…
Avishek Das | Lightrocket | Getty Images Shares of GameStop and AMC jumped on Tuesday, on track to extend gains after “Roaring Kitty,” the man at the center of the meme stock craze, posted online for the first time in roughly three years. Shares of video game retailer GameStop traded 130% higher, while movie theater chain AMC rose 110%. Other so-called “meme stocks” were also poised to open sharply higher on Tuesday. Shares of one-time dominant smartphone maker BlackBerry popped 25% in premarket trading, while headphones manufacturer Koss was up 33%. The market moves follow dramatic gains for the stocks…
Rafael Henrique | SOPA Images | LightRocket via Getty Images Swedish financial technology company Klarna said Tuesday that nearly 9 out of 10 employees in its 5,000-strong workforce are now using generative artificial intelligence tools in their daily work. Klarna, which lets individuals split their purchases into interest-free, monthly installments, said over 87% of its employees are using generative AI tools, including OpenAI’s ChatGPT and its own internal AI assistant. The biggest users of generative AI in the company are those in non-technical groups, such as communications (92.6%), marketing (87.9%) and legal (86.4%), Klarna said. At those rates, Klarna is…
Sun Canyon Bank is an online bank that offers competitive CD rates. As you explore your banking options, Sun Canyon Bank is one to consider. It offers worthwhile APYs for some products and enhanced insurance coverage options. It operates mostly online, with only one physical branch in Arizona. We take a closer look so you can decide if this bank is the right fit for your needs. Sun Canyon Bank is a division of Banterra Bank. The bank offers an interest-bearing checking account and CDs with relatively attractive rates for some terms. Most accounts come with a waivable monthly fee…
Roche Holding AG Chief Executive Officer Thomas Schinecker said Switzerland shouldn’t follow Europe’s example on tax matters as the region is falling behind China and the US in competitiveness. “Switzerland did not do itself a favor by adopting the OECD minimum tax,” he said in Basel on Monday, when asked about the country as a place to do business. Describing Germany and France as high-tax countries, he said Switzerland must compete with Dubai, China and India. The Paris-based Organization for Economic Cooperation and Development oversaw talks on the 2021 minimum tax agreement between around 140 countries. Implementation of the accord,…
Sony said sales of its flagship PlayStation 5 console totalled 20.8 million in the fiscal year 2023 slightly lower than an already revised-down 21 million unit target. Nikos Pekiaridis | Nurphoto | Getty Images Sony on Tuesday reported a 7% drop in annual profits in the fiscal year 2023, dragged down by a decline in its financial services division. The company also narrowly missed its forecast for unit sales of its flagship PlayStation 5 gaming console for the full year. Here’s how Sony did in the March quarter versus LSEG consensus estimates: Revenue: 3.5 trillion yen ($22.4 billion) versus 2.89 trillion…
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode: Learn how to build a financial safety net to conserve your wealth and the ins and outs of investing in index funds. How can you build financial resilience to protect yourself from life’s economic curveballs? How do index funds work, and what should you consider when choosing one? Hosts Sean Pyles and Sara Rathner discuss how you can use elements of financial planning to minimize risk exposure. They offer tips and tricks for financial risk mitigation, including the importance of establishing an emergency fund,…
Becca Chambers wishes she had someone to talk to at work while navigating infertility treatments. Instead, she kept it to herself. Chambers, the chief communications officer at monitoring software company ControlUp, detailed her silent struggles in a LinkedIn post that has garnered over 3,000 reactions and comments from people offering her gratitude for sharing her story. “I went to work every day and did my job—I smiled, brought a positive attitude, traveled where I was needed, went above and beyond—and my coworkers hadn’t a clue of what I was going through,” she wrote. Chambers says having someone at work to…
Adam Dodd, co-founder of wealth technology app Freetrade, is stepping down as CEO. Freetrade LONDON — The boss of U.K. stock trading service Freetrade is stepping down and leaving the company with immediate effect, the company told CNBC exclusively Monday. Adam Dodds, who co-founded the company with business partners Davide Fioranell and Viktor Nebehaj in 2016, will be replaced by Nebehaj, currently Freetrade’s chief operating officer, as CEO, pending customary regulatory approvals. Dodds remains the largest individual shareholder in Freetrade, owning a roughly 12% stake, according to company filings. He won’t be involved in the day-to-day operations of the company…
Mortgage loan modifications can help homeowners who are having trouble making their mortgage payments or who have fallen behind on their loans. A loan modification lowers monthly payments to make them more manageable. Loan modifications are only for borrowers who have missed mortgage payments or who have experienced a financial hardship, like a job loss, a death in the family or a natural disaster, that jeopardizes their ability to pay their mortgages. If you’re in this position, here’s what to know about getting a mortgage loan modification. What is a loan modification? A loan modification alters your current mortgage to…
A Samsung Electronics Co. 12-layer HBM3E, top, and other DDR modules arranged in Seoul, South Korea, on Thursday, April 4, 2024. Samsung’s profit rebounded sharply in the first quarter of 2024, reflecting a turnaround in the company’s pivotal semiconductor division and robust sales of Galaxy S24 smartphones. Photographer: SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images High-performance memory chips are likely to remain in tight supply this year, as explosive AI demand drives a shortage for these chips, according to analysts. SK Hynix and Micron – two of the world’s largest memory chip suppliers – are out…