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🤖📉📈Upstart Holdings Inc. delivered a lower-than-expected revenue forecast for the current quarter, but its chief executive expressed confidence in the performance and value of artificial-intelligence-driven lending.

Since Upstart offered preliminary second-quarter results a month ago that fell shy of expectations, the key issue headed into the company’s official earnings report was its outlook.

Executives at Upstart, which uses artificial intelligence to inform lending decisions, expect $170 million in revenue for the third quarter, whereas analysts were anticipating $249 million.

For the second quarter, the company posted a net loss of $29.9 million, or 36 cents a share, whereas it recorded net income of $37.3 million, or 39 cents a share, in the year-earlier quarter. On an adjusted basis, Upstart posted per-share earnings of 1 cent, whereas it had logged adjusted earnings per share of 62 cents a year earlier.

Analysts tracked by FactSet had been projecting adjusted EPS of 3 cents.
Upstart’s total revenue rose to $228 million from $194 million, while the FactSet consensus was for $242 million. The company generated $258 million in fee revenue but saw the revenue total impacted by about $30 million in adjustments related to interest income and fair value.

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🤖📉📈Upstart Holdings Inc. delivered a lower-than-expected revenue forecast for the current quarter, but its chief executive expressed confidence in the performance and value of artificial-intelligence-driven lending. Since Upstart offered preliminary second-quarter results a month ago that fell shy of expectations, the key issue headed into the company’s official earnings report was its outlook. Executives at Upstart, which uses artificial intelligence to inform lending decisions, expect $170 million in revenue for the third quarter, whereas analysts were anticipating $249 million. For the second quarter, the company posted a net loss of $29.9 million, or 36 cents a share, whereas it recorded net income of $37.3 million, or 39 cents a share, in the year-earlier quarter. On an adjusted basis, Upstart posted per-share earnings of 1 cent, whereas it had logged adjusted earnings per share of 62 cents a year earlier. Analysts tracked by FactSet had been projecting adjusted EPS of 3 cents. Upstart’s total revenue rose to $228 million from $194 million, while the FactSet consensus was for $242 million. The company generated $258 million in fee revenue but saw the revenue total impacted by about $30 million in adjustments related to interest income and fair value. 🗞🤫Become an MI insider today and get instant access to our digestible stock market research newsletters, quality stock picks and more. You’ll also join our members-only Discord community. Join us in link in bio! • • 👉Follow @joinmidotco for more 👈 • • #entrepreneur #wallstreet #nasdaq #wealth #advice #shares #bestcompany #successful #rich #income #investment #mi #millioner #millionerinvestor #investmentportfolio #passiveincome #lifestyle #wealthbuilding #stockmarket #success #nyse #multibagger #investments #investmentideas #investingforbeginners #stocks #investingtips #investing101 #topstocks #investmentopportunity
8 hours ago
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1/9
🤡💰🚫Cryptocurrency lending platform Hodlnaut has frozen withdrawals, deposits and token swaps because of "difficult market conditions," the firm said on Monday. The Singapore-based firm, which was founded in 2019, said it wants to stabilize liquidity and preserve assets while it works on a long-term solution.

Hodlnaut also withdrew its application to the Monetary Authority of Singapore for a license in the city-state, even though it received in-principle approval from the central bank in March.

The company is the latest in a line of crypto lenders that have buckled under market pressure this year, with Celsius Network and Voyager Digital both filing for bankruptcy protection. The total crypto market cap has slumped to about $1 trillion from more than $3 trillion in November.

One of the key components of the market downturn was the collapse of crypto hedge fund Three Arrows Capital, which had billions of dollars of exposure to numerous companies in the crypto universe.

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🤡💰🚫Cryptocurrency lending platform Hodlnaut has frozen withdrawals, deposits and token swaps because of "difficult market conditions," the firm said on Monday. The Singapore-based firm, which was founded in 2019, said it wants to stabilize liquidity and preserve assets while it works on a long-term solution. Hodlnaut also withdrew its application to the Monetary Authority of Singapore for a license in the city-state, even though it received in-principle approval from the central bank in March. The company is the latest in a line of crypto lenders that have buckled under market pressure this year, with Celsius Network and Voyager Digital both filing for bankruptcy protection. The total crypto market cap has slumped to about $1 trillion from more than $3 trillion in November. One of the key components of the market downturn was the collapse of crypto hedge fund Three Arrows Capital, which had billions of dollars of exposure to numerous companies in the crypto universe. 🗞🤫Become an MI insider today and get instant access to our digestible stock market research newsletters, quality stock picks and more. You’ll also join our members-only Discord community. Join us in link in bio! • • 👉Follow @joinmidotco for more 👈 • • #entrepreneur #wallstreet #nasdaq #wealth #advice #shares #bestcompany #successful #rich #income #investment #mi #millioner #millionerinvestor #investmentportfolio #passiveincome #lifestyle #wealthbuilding #stockmarket #success #nyse #multibagger #investments #investmentideas #investingforbeginners #stocks #investingtips #investing101 #topstocks #investmentopportunity
13 hours ago
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2/9
🇯🇵👨🏻‍💼📉SoftBank Group Corp. reported a record 3.16 trillion yen ($23.4 billion) net loss as a selloff in global tech stocks continued to hammer its Vision Fund’s portfolio of investments.

The Vision Fund segment posted a loss of 2.33 trillion yen in the three months ended June 3O, following a then-record 2.2 trillion yen loss in the previous quarter. SoftBank also reported a 820 billion yen foreign exchange loss because of the weaker yen.

Global stock prices continued their slide during the June quarter, hurting valuations of SoftBank’s key public holdings like Uber Technologies Inc. and Coupang Inc. The Nasdaq 100, a barometer for tech heavyweights, lost 22% during the period, capping its worst such performance since the global financial crisis in 2008. It’s the most serious setback for founder Masayoshi Son since he repositioned his company to focus on tech investments.

“The loss is the biggest in our corporate history and we take it very seriously,” Son said during a press conference after the results.
Asked about what lessons he has learned from the experience, Son said, “There are too many to count.”

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🇯🇵👨🏻‍💼📉SoftBank Group Corp. reported a record 3.16 trillion yen ($23.4 billion) net loss as a selloff in global tech stocks continued to hammer its Vision Fund’s portfolio of investments. The Vision Fund segment posted a loss of 2.33 trillion yen in the three months ended June 3O, following a then-record 2.2 trillion yen loss in the previous quarter. SoftBank also reported a 820 billion yen foreign exchange loss because of the weaker yen. Global stock prices continued their slide during the June quarter, hurting valuations of SoftBank’s key public holdings like Uber Technologies Inc. and Coupang Inc. The Nasdaq 100, a barometer for tech heavyweights, lost 22% during the period, capping its worst such performance since the global financial crisis in 2008. It’s the most serious setback for founder Masayoshi Son since he repositioned his company to focus on tech investments. “The loss is the biggest in our corporate history and we take it very seriously,” Son said during a press conference after the results. Asked about what lessons he has learned from the experience, Son said, “There are too many to count.” 🗞🤫Become an MI insider today and get instant access to our digestible stock market research newsletters, quality stock picks and more. You’ll also join our members-only Discord community. Join us in link in bio! • • 👉Follow @joinmidotco for more 👈 • • #entrepreneur #wallstreet #nasdaq #wealth #advice #shares #bestcompany #successful #rich #income #investment #mi #millioner #millionerinvestor #investmentportfolio #passiveincome #lifestyle #wealthbuilding #stockmarket #success #nyse #multibagger #investments #investmentideas #investingforbeginners #stocks #investingtips #investing101 #topstocks #investmentopportunity
19 hours ago
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3/9
🏭✈️📈Shares in engineering and design software company General Electric rose 19.8% over the past 30 days. The more significant part of the move comes after a well-received set of second-quarter earnings released on July 26. 

It's not that the results were anything special in themselves, but that they were not as bad as many had feared they would be. Moreover, management maintained its full-year revenue and earnings guidance but reduced expectations for free cash flow (FCF) in 2022 by referring to a $1 billion "push out." The push out is due to supply chain disruptions and the "timing of renewable energy-related orders" CEO Larry Culp said on the earnings call. In addition, management fell short of confirming the long-established aim of hitting $7 billion in 2023.

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🏭✈️📈Shares in engineering and design software company General Electric rose 19.8% over the past 30 days. The more significant part of the move comes after a well-received set of second-quarter earnings released on July 26.  It's not that the results were anything special in themselves, but that they were not as bad as many had feared they would be. Moreover, management maintained its full-year revenue and earnings guidance but reduced expectations for free cash flow (FCF) in 2022 by referring to a $1 billion "push out." The push out is due to supply chain disruptions and the "timing of renewable energy-related orders" CEO Larry Culp said on the earnings call. In addition, management fell short of confirming the long-established aim of hitting $7 billion in 2023. 🗞🤫Become an MI insider today and get instant access to our digestible stock market research newsletters, quality stock picks and more. You’ll also join our members-only Discord community. Join us in link in bio! • • 👉Follow @joinmidotco for more 👈 • • #entrepreneur #wallstreet #nasdaq #wealth #advice #shares #bestcompany #successful #rich #income #investment #mi #millioner #millionerinvestor #investmentportfolio #passiveincome #lifestyle #wealthbuilding #stockmarket #success #nyse #multibagger #investments #investmentideas #investingforbeginners #stocks #investingtips #investing101 #topstocks #investmentopportunity
1 day ago
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4/9
📣🏛📣Palantir, Coinbase and other high-profile names reports earnings in the week ahead. Are you looking forward to any of them?

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📣🏛📣Palantir, Coinbase and other high-profile names reports earnings in the week ahead. Are you looking forward to any of them?

🗞🤫Become an MI insider today and get instant access to our digestible stock market research newsletters, quality stock picks and more. You’ll also join our members-only Discord community. Join us in link in bio!
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📣🏛📣Palantir, Coinbase and other high-profile names reports earnings in the week ahead. Are you looking forward to any of them?

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📣🏛📣Palantir, Coinbase and other high-profile names reports earnings in the week ahead. Are you looking forward to any of them? 🗞🤫Become an MI insider today and get instant access to our digestible stock market research newsletters, quality stock picks and more. You’ll also join our members-only Discord community. Join us in link in bio! • • 👉Follow @joinmidotco for more 👈 • • #entrepreneur #wallstreet #nasdaq #wealth #advice #shares #bestcompany #successful #rich #income #investment #mi #millioner #millionerinvestor #investmentportfolio #passiveincome #lifestyle #wealthbuilding #stockmarket #success #nyse #multibagger #investments #investmentideas #investingforbeginners #stocks #investingtips #investing101 #topstocks #investmentopportunity
2 days ago
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5/9
🤡🤡🚀 For the seventh time this year, a tiny US listing by a company based in China or Hong Kong is seeing a wild price surge after its initial public offering.

This time, it’s Hong Kong’s Magic Empire Global Ltd.. climbed 2,325% above its $4 IPO price to close at $97 in its debut session Friday. It’s the latest in a string of similar moves that includes AMTD Digital Inc. -- the firm that became bigger than Goldman Sachs after surging by 14,000%.

“Gamblers gamble more the more they lose. #Silliness,” tweeted Michael Burry -- the investor who famously predicted the housing crash in 2008 -- alongside a screenshot of Magic Empire’s stock chart.

Seven of the 10 US listings from China and Hong Kong this year have now experienced similarly unusual price action. That stands out at a time of otherwise muted IPO activity due to market volatility and reduced public valuations.
Friday’s price action left Magic Empire with a $1.9 billion market cap, according to data compiled by Bloomberg. Magic Empire, which provides underwriting and advisory services, didn’t immediately respond to a request for comment. The IPO was underwritten by Network 1 Financial.

For its part, AMTD Digital fell 9.9% on Friday. It’s the third straight day of losses that have left the stock 9,147% above its July 15 IPO price.

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🤡🤡🚀 For the seventh time this year, a tiny US listing by a company based in China or Hong Kong is seeing a wild price surge after its initial public offering. This time, it’s Hong Kong’s Magic Empire Global Ltd.. climbed 2,325% above its $4 IPO price to close at $97 in its debut session Friday. It’s the latest in a string of similar moves that includes AMTD Digital Inc. -- the firm that became bigger than Goldman Sachs after surging by 14,000%. “Gamblers gamble more the more they lose. #Silliness,” tweeted Michael Burry -- the investor who famously predicted the housing crash in 2008 -- alongside a screenshot of Magic Empire’s stock chart. Seven of the 10 US listings from China and Hong Kong this year have now experienced similarly unusual price action. That stands out at a time of otherwise muted IPO activity due to market volatility and reduced public valuations. Friday’s price action left Magic Empire with a $1.9 billion market cap, according to data compiled by Bloomberg. Magic Empire, which provides underwriting and advisory services, didn’t immediately respond to a request for comment. The IPO was underwritten by Network 1 Financial. For its part, AMTD Digital fell 9.9% on Friday. It’s the third straight day of losses that have left the stock 9,147% above its July 15 IPO price. 🗞🤫Become an MI insider today and get instant access to our digestible stock market research newsletters, quality stock picks and more. You’ll also join our members-only Discord community. Join us in link in bio! • • 👉Follow @joinmidotco for more 👈 • • #entrepreneur #wallstreet #nasdaq #wealth #advice #shares #bestcompany #successful #rich #income #investment #mi #millioner #millionerinvestor #investmentportfolio #passiveincome #lifestyle #wealthbuilding #stockmarket #success #nyse #multibagger #investments #investmentideas #investingforbeginners #stocks #investingtips #investing101 #topstocks
2 days ago
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6/9
🛒🇦🇷🚀 Shares of MercadoLibre surged 43.6% over the last 30 days. It wasn't too long ago that the Nasdaq Composite index plunged into a bear market, dragging down the stock prices of a wide variety of growth companies. Last month saw a remarkable recovery for the technology stock index as it regained some ground, rising by 12.3% for the month to recoup some of its losses. MercadoLibre's shares were carried along with the improved sentiment as investors' risk appetite for growth stocks increased once again.

Not that MercadoLibre was in any danger of its growth declining. The Latin American e-commerce and payments company has posted strong growth all the way, with its first quarter of 2022, ended March 31, registering a 67% year-over-year jump in revenue to $2.2 billion. Gross merchandise value (GMV) and total payment volume (TPV) surged 32% and 81% year over year, respectively, to $7.7 billion and $25.3 billion.

The company is showing no signs of slowing down, with its recent second-quarter earnings ticking all the right boxes. Net revenue surged 56.5% year over year to a new record high of $2.6 billion, continuing MercadoLibre's run of revenue increases. GMV and TPV continued their upward climb, rising by 26.2% and 83.9% year over year to $8.6 billion and $30.2 billion, respectively. Unique active users on its platform went from 76 million in the second quarter of last year to 84 million, and payment transactions have leapt by close to 73% year over year to 1.26 billion. 

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🛒🇦🇷🚀 Shares of MercadoLibre surged 43.6% over the last 30 days. It wasn't too long ago that the Nasdaq Composite index plunged into a bear market, dragging down the stock prices of a wide variety of growth companies. Last month saw a remarkable recovery for the technology stock index as it regained some ground, rising by 12.3% for the month to recoup some of its losses. MercadoLibre's shares were carried along with the improved sentiment as investors' risk appetite for growth stocks increased once again. Not that MercadoLibre was in any danger of its growth declining. The Latin American e-commerce and payments company has posted strong growth all the way, with its first quarter of 2022, ended March 31, registering a 67% year-over-year jump in revenue to $2.2 billion. Gross merchandise value (GMV) and total payment volume (TPV) surged 32% and 81% year over year, respectively, to $7.7 billion and $25.3 billion. The company is showing no signs of slowing down, with its recent second-quarter earnings ticking all the right boxes. Net revenue surged 56.5% year over year to a new record high of $2.6 billion, continuing MercadoLibre's run of revenue increases. GMV and TPV continued their upward climb, rising by 26.2% and 83.9% year over year to $8.6 billion and $30.2 billion, respectively. Unique active users on its platform went from 76 million in the second quarter of last year to 84 million, and payment transactions have leapt by close to 73% year over year to 1.26 billion.  🗞🤫Become an MI insider today and get instant access to our digestible stock market research newsletters, quality stock picks and more. You’ll also join our members-only Discord community. Join us in link in bio! • • 👉Follow @joinmidotco for more 👈 • • #entrepreneur #wallstreet #nasdaq #wealth #advice #shares #bestcompany #successful #rich #income #investment #mi #millioner #millionerinvestor #investmentportfolio #passiveincome #lifestyle #wealthbuilding #stockmarket #success #nyse #multibagger #investments #investmentideas #investingforbeginners #stocks #investingtips #investing101 #topstocks #investmentopportunity
2 days ago
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7/9
🚘 🚀 ✂️Tesla Inc said on Friday trading in its three-for-one split shares will start on Aug. 25, after the electric vehicle maker's shareholders approved the proposal during its annual meeting.

Shareholders of the EV maker voted for board recommendations on most issues at the company's annual meeting on Thursday, including re-electing directors, approving a stock split, while rejecting proposals focused on environment and governance.

Chief Executive Elon Musk owns 15.6% of Tesla, according to Refinitiv data, after selling millions of shares last year.

Each stockholder of record on Aug. 17 will get a dividend of two additional shares for each share held, to be distributed after close of trading on Aug. 24, the company said.

The new share split comes two years after a five-for-one split helped bring down the price of the high-flying stock within the reach of ordinary investors.

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🚘 🚀 ✂️Tesla Inc said on Friday trading in its three-for-one split shares will start on Aug. 25, after the electric vehicle maker's shareholders approved the proposal during its annual meeting. Shareholders of the EV maker voted for board recommendations on most issues at the company's annual meeting on Thursday, including re-electing directors, approving a stock split, while rejecting proposals focused on environment and governance. Chief Executive Elon Musk owns 15.6% of Tesla, according to Refinitiv data, after selling millions of shares last year. Each stockholder of record on Aug. 17 will get a dividend of two additional shares for each share held, to be distributed after close of trading on Aug. 24, the company said. The new share split comes two years after a five-for-one split helped bring down the price of the high-flying stock within the reach of ordinary investors. 🗞🤫Become an MI insider today and get instant access to our digestible stock market research newsletters, quality stock picks and more. You’ll also join our members-only Discord community. Join us in link in bio! • • 👉Follow @joinmidotco for more 👈 • • #entrepreneur #wallstreet #nasdaq #wealth #advice #shares #bestcompany #successful #rich #income #investment #mi #millioner #millionerinvestor #investmentportfolio #passiveincome #lifestyle #wealthbuilding #stockmarket #success #nyse #multibagger #investments #investmentideas #investingforbeginners #stocks #investingtips #investing101 #topstocks #investmentopportunity
3 days ago
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8/9
👴🏻🫣📉The slide in U.S. stock prices punished Berkshire Hathaway Inc's bottom line in the second quarter as the company run by billionaire Warren Buffett posted a $43.8 billion loss.

Berkshire nevertheless posted better operating results, as improved results from reinsurance and the BNSF railroad offset a loss from the Geico car insurer, where car parts shortages and higher vehicle prices boosted losses on accident claims.

Rising interest rates helped Berkshire's insurance units generate more money from investments, while the strengthening U.S. dollar boosted profit from the company's European and Japanese debt investments.
Investors closely watch Berkshire because of Buffett's reputation, and because results from its dozens of operating units in the insurance, railroad manufacturing, energy and retail sectors often mirror broader economic trends.

Berkshire's net loss was equal to $29,754 per Class A share, and compared with a net profit of $28.1 billion, or $18,488 per Class A share, a year earlier.

Quarterly operating profit rose 39% to $9.28 billion, or about $6,326 per Class A share, from $6.69 billion, or $4,424 per Class A share, a year earlier.

Net results swing wildly because the Omaha, Nebraska-based conglomerate must report investment gains and losses on its stock holdings even if it buys and sells nothing.

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👴🏻🫣📉The slide in U.S. stock prices punished Berkshire Hathaway Inc's bottom line in the second quarter as the company run by billionaire Warren Buffett posted a $43.8 billion loss. Berkshire nevertheless posted better operating results, as improved results from reinsurance and the BNSF railroad offset a loss from the Geico car insurer, where car parts shortages and higher vehicle prices boosted losses on accident claims. Rising interest rates helped Berkshire's insurance units generate more money from investments, while the strengthening U.S. dollar boosted profit from the company's European and Japanese debt investments. Investors closely watch Berkshire because of Buffett's reputation, and because results from its dozens of operating units in the insurance, railroad manufacturing, energy and retail sectors often mirror broader economic trends. Berkshire's net loss was equal to $29,754 per Class A share, and compared with a net profit of $28.1 billion, or $18,488 per Class A share, a year earlier. Quarterly operating profit rose 39% to $9.28 billion, or about $6,326 per Class A share, from $6.69 billion, or $4,424 per Class A share, a year earlier. Net results swing wildly because the Omaha, Nebraska-based conglomerate must report investment gains and losses on its stock holdings even if it buys and sells nothing. 🗞🤫Become an MI insider today and get instant access to our digestible stock market research newsletters, quality stock picks and more. You’ll also join our members-only Discord community. Join us in link in bio! • • 👉Follow @joinmidotco for more 👈 • • #entrepreneur #wallstreet #nasdaq #wealth #advice #shares #bestcompany #successful #rich #income #investment #mi #millioner #millionerinvestor #investmentportfolio #passiveincome #lifestyle #wealthbuilding #stockmarket #success #nyse #multibagger #investments #investmentideas #investingforbeginners #stocks #investingtips #investing101 #topstocks #investmentopportunity
3 days ago
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