Finance

Check out the companies making headlines after the bell Monday: Fitbit shares dropped more than 11 percent after hours. The wearable technology company reported losses per share of 2 cents and revenues that missed expectations by $18 million, disappointing Wall Street. Guidance for the upcoming quarter and year were both extremely weak, significantly missing estimates
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Donat Sorokin | TASS | Getty Images A girl poses for a photograph on a stone sphere monument that unidentified persons have painted with the white Bitcoin cryptocurrency symbol in Oktyabrskaya Square, Yekaterinburg, Russia. Bitcoin jumped back above $10,000 Monday morning amid broad gains in the cryptocurrency market. The largest cryptocurrency suddenly spiked in morning
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Warren Buffett’s Berkshire Hathaway on Saturday reported a record quarterly and annual profit, benefiting from a lower U.S. corporate income tax rate. Fourth-quarter net income increased roughly fivefold to $32.55 billion, or $19,790 per Class A share, from $6.29 billion, or $3,823 per share, a year earlier. Quarterly operating profit for the Omaha, Nebraska-based conglomerate
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Warren Buffett’s Berkshire Hathaway is itching to do a massive acquisition, but is having a difficult time due to elevated valuations. The Oracle of Omaha explained his buying criteria for deals in his 2017 annual letter to shareholders released on Saturday. “In our search for new stand-alone businesses, the key qualities we seek are durable
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Kraft Heinz announced Friday that Warren Buffett will be retiring from its board when his term ends at the company’s upcoming annual meeting. In its statement, Kraft Heinz said Buffett decided to step down “as he decreases his travel commitments.” Alex Behring, chairman of the board, said Buffett made “many invaluable contributions” to the company.
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“To support the speed, finality and sustainability required for business, we knew mining would be unsustainable because of its cost and (slow) transaction processing speeds,” said Chris Ferris, chief technology officer of open technology at IBM. Blockchain developer R3 has built its own energy-efficient blockchain for major financial institutions. They developed the permissioned blockchain Corda
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Bitcoin (BTC) is the most important cryptocurrency. Most government-backed money that goes in and out of crypto goes through bitcoin, so what happens to the original cryptocurrency affects the entire market. The token’s market dominance stood at about 40 percent as of Wednesday. By my estimates, however, it’s clear bitcoin’s market dominance should return to
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The Securities and Exchange Commission charged former cryptocurrency exchange BitFunder and its founder with fraud Wednesday. The regulator alleged that BitFunder and founder Jon E. Montroll ran the operation as an “unregistered securities exchange” and defrauded users of that exchange, according to a SEC statement. “Platforms that engage in the activity of a national securities
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Venezuela’s oil-backed “petro” cryptocurrency raised $735 million in the first day of its pre-sale Wednesday, President Nicolas Maduro has claimed. The Venezuelan president said on Twitter that the petro token raised more than 4.777 billion Chinese yuan, or $735 million, and that the state-backed virtual currency “reaffirms our economic sovereignty.” Tweet Tweet Caracas said that
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