Category: Business

Wells Fargo hikes GS price target, says investors aren’t pricing in strong 2023 returns

Wells Fargo believes more upside is in store for shares of Goldman Sachs. Banking analyst Mike Mayo upped his price target on the Wall Street investment bank to $420 from $390 a share, saying in a Tuesday note to clients that investors aren’t accounting for what should be a solid year of returns. GS YTD…

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Argo Blockchain’s bitcoin production grows 14% in January

Argo Blockchain’s bitcoin production grows 14% in January

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China’s economy to grow 5% in 2023, Fitch Ratings says in an upgraded forecast

The Chinese flag floats before the skyscrapers of multinational corporations on February 23, 2018 in Shanghai, China. Vincent Isore IP3 | Getty Images China’s economy will expand by 5% in 2023, Fitch Ratings said in a revised forecast on Wednesday – an improved outlook from its previous 4.1% growth prediction made in December. The latest…

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Goldman Sachs’ electric vehicle stock picks to play the boom

Goldman Sachs says the development of electric vehicles — and the companies involved in this — are set to see “considerable growth” through 2030. “We expect technological innovation, and we see considerable growth through 2030 in the EV ecosystem, and think profit pools in the automobile industry will be transformed,” Goldman analysts wrote in a…

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Euronet Non-GAAP EPS of $1.39 beats by $0.15, revenue of $865.7M misses by $8.78M

Euronet Non-GAAP EPS of $1.39 beats by $0.15, revenue of $865.7M misses by $8.78M

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Microsoft will offer ChatGPT tech for companies to customize: source

Microsoft plans to release software to help large companies create their own chatbots similar to ChatGPT, CNBC has learned. In the two months since startup OpenAI released ChatGPT to the public, it has become a hit, impressing people with its ability to spit out comments on a wide variety of topics and in many styles.…

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Consol crushes earnings estimates but coal’s rise may be ‘running out of steam’

keni1/iStock via Getty Images Consol Energy (NYSE: CEIX) closed +7% on Tuesday after reporting strong Q4 results, including a record $5.39/share quarterly profit that crushed analyst estimates and an 11% Y/Y increase in coal sales volume to 6.2M tons. Consol (CEIX) said it expects to raise production ~8% this year, and that it already has…

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Ebay layoffs: 500 jobs cut

Ebay on Tuesday announced plans to cut 500 jobs, or about 4% of its workforce, according to a filing with the SEC. Shares of eBay were up slightly in extended trading Tuesday. In a memo to employees, CEO Jamie Iannone said the company decided to make cuts after examining the global macroeconomic environment over the…

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