Sports-centric predictions market platform Underdog has hired Nick Lundgren, the previous head of Crypto.com ’s event contracts exchange , to serve as chief legal officer. Lundgren also served as chief legal officer at Crypto.com and helped the exchange launch the trading of sports contracts in the US in late 2024. Since then, the industry has surged with sports markets accounting for the vast maj...
Sports-centric predictions market platform Underdog has hired Nick Lundgren, the previous head of Crypto.com ’s event contracts exchange , to serve as chief legal officer. Lundgren also served as chief legal officer at Crypto.com and helped the exchange launch the trading of sports contracts in the US in late 2024. Since then, the industry has surged with sports markets accounting for the vast majority of the trading volume on some of the most popular US platforms. “After working with Underdog, getting to know the team, their ability to build product and seeing them acquire the full stack of prediction markets licenses, it became obvious to me they were going to win the largest category of prediction markets, sports,” Lundgren said in a statement. Underdog said it plans to keep its focus on sports, unlike some of the leading exchanges like Kalshi Inc. and Polymarket that offer wagers on almost anything. The Brooklyn, New York-based company in March acquired an exchange and clearinghouse from Aristotle Inc. that were registered with the Commodity Futures Trading Commission . It has partnered with Crypto.com to execute sports trades while it builds out its own infrastructure and plans to make the switch to using its own licenses later this year. Read More: How Prediction Markets Turned the World Into a Casino: Explainer In February, Underdog cut about 20% of its workforce, or about 125 people, according to Front Office Sports. The staff reduction was due in part to the company’s use of artificial intelligence, as well as its push into prediction markets, Front Office Sports said. The broader prediction markets industry is ensnared in legal battles with tribal groups and state gaming regulators challenging whether the platforms should be treated as state-regulated sports betting operations. The CFTC has repeatedly sided with the industry and argued the agency has “exclusive jurisdiction” over exchanges like Kalshi and Crypto.com.
Target has a new employee dress code, but it won’t fix what’s broken at the company, Bloomberg Opinion columnist Beth Kowitt explains. (Source: Bloomberg)
Target has a new employee dress code, but it won’t fix what’s broken at the company, Bloomberg Opinion columnist Beth Kowitt explains. (Source: Bloomberg)
Dividend income arrives whether markets rally or sell off. For investors seeking recurring cash flow, high-yield equities remain the cleanest source outside a paycheck. They settle in cash, clear immediately, and can be redeployed or spent without selling property or waiting on private placements. Pharma is one of the few sectors where mature franchises, regulatory ... 6 Pharma Dividend Stocks Yie...
Dividend income arrives whether markets rally or sell off. For investors seeking recurring cash flow, high-yield equities remain the cleanest source outside a paycheck. They settle in cash, clear immediately, and can be redeployed or spent without selling property or waiting on private placements. Pharma is one of the few sectors where mature franchises, regulatory ... 6 Pharma Dividend Stocks Yielding Up to 6.44% — and They’ve Survived Every Market Crash
lucky-photographer White House and Treasury Department officials have discussed expanding so-called Trump Accounts for children to allow wealthy individuals to contribute stocks in their companies to the accounts, according to a media report on Wednesday. Created as part of the Republicans' "One Big, Beautiful Bill," the investment accounts for millions of American children have been funded with b...
lucky-photographer White House and Treasury Department officials have discussed expanding so-called Trump Accounts for children to allow wealthy individuals to contribute stocks in their companies to the accounts, according to a media report on Wednesday. Created as part of the Republicans' "One Big, Beautiful Bill," the investment accounts for millions of American children have been funded with billions of dollars contributed by billionaires. The 530A accounts, as they're officially called, can start getting contributions on July 4, but they're restricted to cash investments in diversified index funds. The campaign to add stocks to the accounts is being led by Brad Gerstner, the founder of Altimeter Capital, who was instrumental in pushing for the 530A account program, The New York Times ' DealBook reported. Such an expansion of the rules would allow wealthy individuals, such as Elon Musk or Nvidia's ( NVDA ) Jensen Huang, to donate shares in Tesla ( TSLA ), SpaceX ( SPACE ), or Nvidia directly into Trump accounts. That would allow the donors to offload billions of dollars' worth of valuable stock without realizing capital gains. Plus, they would get a full charitable deduction for the stock's fair market value, DealBook reported. The original purpose of restricting the accounts to diversified index funds is to protect children from dramatic market swings. DealBook said the change would require an amendment, possibly through legislation, to change the statute. There's a question on whether new Treasury Department guidance or an executive order would suffice, the article said . Dear readers: We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on Trump Accounts Robinhood, BNY picked to help run Trump Accounts for kids Intel plans to match government's contributions for 'Trump Accounts' program Dell founder Michael Dell pledges $6.25B to support Trump Accounts fo...
Spencer Platt Rivian Automotive ( RIVN ) is reportedly developing new R2 variants in what could be considered a sign it wants the midsize EV platform to expand beyond the first launch version and appeal to more than one type of buyer. Rivian ( RIVN ) is considering body-style or configuration changes, not just trim-level tweaks, as it builds out the R2 family, according to Reuters. Looking ahead, ...
Spencer Platt Rivian Automotive ( RIVN ) is reportedly developing new R2 variants in what could be considered a sign it wants the midsize EV platform to expand beyond the first launch version and appeal to more than one type of buyer. Rivian ( RIVN ) is considering body-style or configuration changes, not just trim-level tweaks, as it builds out the R2 family, according to Reuters. Looking ahead, Rivian ( RIVN ) expects the first R2 deliveries to begin in spring 2026, and the launch is expected to start with the higher-end Performance model paired with the Launch Package. That version was positioned at roughly $58K, with other cheaper versions to start in 2027. The staged approach allows Rivian ( RIVN ) to get the vehicle into the market sooner while giving it room to lower the entry price over time. Shares of Rivian ( RIVN ) rose 0.8% in Wednesday morning trading. For the year, the EV stock is down more than 25%. Short interest on RIVN stands at 11.2% of the total float. More on Rivian Rivian Automotive, Inc. (RIVN) Q1 2026 Earnings Call Transcript Rivian Automotive, Inc. 2026 Q1 - Results - Earnings Call Presentation Rivian: It's All About R2 Volkswagen boosts its stake in Rivian to 15.9% after a private placement deal Rivian outlines 62,000-67,000 2026 deliveries while scaling Georgia phase 1 capacity to 300,000 units
imaginima/E+ via Getty Images Commercial crude stocks (excluding those in the Strategic Petroleum Reserve) for the week ended May 1: 457.2M barrels . Crude inventory change: -2.3M barrels vs. -6.2M barrels for the week ended April 24. Consensus estimate: -3.400M. Gasoline inventory change: -2.5M barrels vs. -6.1M barrels for the week ended April 24. Distillates inventory change: -1.3M barrels vs. ...
imaginima/E+ via Getty Images Commercial crude stocks (excluding those in the Strategic Petroleum Reserve) for the week ended May 1: 457.2M barrels . Crude inventory change: -2.3M barrels vs. -6.2M barrels for the week ended April 24. Consensus estimate: -3.400M. Gasoline inventory change: -2.5M barrels vs. -6.1M barrels for the week ended April 24. Distillates inventory change: -1.3M barrels vs. -4.5M barrels for the week ended April 24. Strategic Petroleum Reserve: 392.7M barrels, down -5.2M barrels from 397.9M barrels in the prior week. Crude Oil Futures ( CL1:COM ) -7% to $95.1/barrel. ETFs: ( USO ), ( BNO ), ( UCO ), ( SCO ), ( USL ), ( DBO ), ( DRIP ), ( GUSH ), ( USOI ), ( XLE ). More on Crude Oil Futures, United States Oil Fund LP ETF, etc. The Petroleum Inventory Crash: $200+ Oil Is Coming Soon US-Iran Peace Agreement: Market Implications And Strategic Scenarios U.S. February Oil Production Rebounds Summer of $4 gas looms as oil futures signal prolonged pain at the pump: BofA Massive oil short trade raises questions after Iran deal reports
They entered the world the way babies should, with piercing cries announcing their arrival. They passed their newborn screening tests. Some made it to their 2-week wellness visits without concern. Then, without warning, their systems began to shut down. A 7-week-old boy in Maryland developed sudden seizures. An 11-pound girl in Alabama stopped breathing for 20 seconds at a time. A baby boy in Kent...
They entered the world the way babies should, with piercing cries announcing their arrival. They passed their newborn screening tests. Some made it to their 2-week wellness visits without concern. Then, without warning, their systems began to shut down. A 7-week-old boy in Maryland developed sudden seizures. An 11-pound girl in Alabama stopped breathing for 20 seconds at a time. A baby boy in Kentucky vomited before becoming lethargic. A brown-haired girl in Texas, not yet 2 weeks old, bled around her belly button. Desperate to save them, records show, doctors inserted tubes into their airways and hooked them up to IVs. They ordered blood transfusions. They spent half an hour trying to resuscitate one boy until his parents told them they could stop. They shaved another boy’s soft locks to embed a needle directly into his skull to reduce the pressure in his brain. Read full article Comments
In early trading on Wednesday, shares of Advanced Micro Devices topped the list of the day's best performing components of the Nasdaq 100 index, trading up 19.3%. Year to date, Advanced Micro Devices registers a 97.9% gain. And the worst performing Nasdaq 100 component thus fa
In early trading on Wednesday, shares of Advanced Micro Devices topped the list of the day's best performing components of the Nasdaq 100 index, trading up 19.3%. Year to date, Advanced Micro Devices registers a 97.9% gain. And the worst performing Nasdaq 100 component thus fa
Leaders from Coinbase, M13, and Mignano Law Group talk about how M&A is an early-stage strategy at TechCrunch Disrupt 2026. Register to hear this live.
Leaders from Coinbase, M13, and Mignano Law Group talk about how M&A is an early-stage strategy at TechCrunch Disrupt 2026. Register to hear this live.
omersukrugoksu/iStock via Getty Images Introduction Peoples Bancorp of North Carolina ( PEBK ) is a local bank operating 15 offices in North Carolina. With just over $1.7B in assets on its balance sheet, the local footprint of the bank has allowed it to keep a good grip on its lending business which translates into low loan loss provisions. That’s of course good news for the bottom line result as ...
omersukrugoksu/iStock via Getty Images Introduction Peoples Bancorp of North Carolina ( PEBK ) is a local bank operating 15 offices in North Carolina. With just over $1.7B in assets on its balance sheet, the local footprint of the bank has allowed it to keep a good grip on its lending business which translates into low loan loss provisions. That’s of course good news for the bottom line result as well. One key element I appreciate about PEBK is its relatively low dividend payout ratio. This allows the bank to retain the majority of its earnings which helps to boost the equity portion of its balance sheet and that of course underpins additional loan growth. Data by YCharts Another good set of results, despite slightly higher loan loss provisions In the first quarter of 2026, Peoples Bancorp of North Carolina generated a total interest income of around $20.9M , which represents a 4% increase compared to the $20M generated in the first quarter of 2025. PEBK noticed a lower interest expense as it decreased by 4% to $5.8M. This resulted in a net interest income of $15.1M, which is about $1.2M higher compared to the first quarter of the preceding year. PEBK Investor Relations Peoples Bancorp also had to deal with a higher net non-interest expense as it saw its non-interest income decrease by about 1% (the lower appraisal management fee revenue was the main culprit here) while the non-interest expenses increased by approximately 5% on the back of higher salaries and benefits. This resulted in a pre-tax and pre loan loss provision income of approximately $6.2M, which represents a 5% increase compared to the $5.9M in Q1 2025. But as the bank recorded slightly higher loan loss provisions (in absolute terms, in relative terms the amount of loan loss provisions more than doubled), the reported pre-tax income remained pretty flat. Fortunately the average tax pressure was slightly lower than in Q1 2025 resulting in a 1% increase in the net income. The $4.4M in net profit represen...
If you look at a stock price chart for Lucid Group (NASDAQ: LCID) over the last 12 months, it looks like a continuous walk down a mountain, with shares plummeting 74%. The company faces many challenges in turning things around, but the good news is that the management team recognizes the situation. It has some plans in place and an opportunity in the robotaxi market, but it's going to be an uphill...
If you look at a stock price chart for Lucid Group (NASDAQ: LCID) over the last 12 months, it looks like a continuous walk down a mountain, with shares plummeting 74%. The company faces many challenges in turning things around, but the good news is that the management team recognizes the situation. It has some plans in place and an opportunity in the robotaxi market, but it's going to be an uphill battle to send the stock price moving upward. Image source: Getty Images. Continue reading
UBS Says Transport Stock Rout Is "Overdone" After Amazon News UBS senior analyst Tom Wadewitz, who covers freight transportation, told clients that Amazon's latest push to open its supply chain network to businesses beyond its own marketplace triggered an " overdone " sell-off in transport names, including UPS, FedEx, and C.H. Robinson. Wadewitz said the risk is not new, noting that Amazon's suppl...
UBS Says Transport Stock Rout Is "Overdone" After Amazon News UBS senior analyst Tom Wadewitz, who covers freight transportation, told clients that Amazon's latest push to open its supply chain network to businesses beyond its own marketplace triggered an " overdone " sell-off in transport names, including UPS, FedEx, and C.H. Robinson. Wadewitz said the risk is not new, noting that Amazon's supply chain service has been around since 2023. He said the pullback has created attractive entry points in select transport stocks, particularly UPS, FedEx, and C.H. Robinson. "While we view AMZN's strategy of selling transportation services as a negative for transports generally, it is not a new risk and the supply chain service is also not new. We believe the significant sell-off in transport names was overdone ," Wadewitz said. The main risk is in B2B parcel, Wadewitz said, adding that Amazon's growing third-party shipping ambitions could pressure UPS and FedEx over the medium term. However, he said the threat is not a surprise, since Amazon has been active in parcel delivery for years. He also noted that there is limited near-term risk in international express because Amazon's air fleet is mostly domestic narrow-body aircraft. The immediate market reaction in transport stocks, including UPS, FedEx, and C.H. Robinson , to Amazon's news was a roughly 10% drop at the start of the week. Some of those losses had been recovered by mid-week. Wadewitz explained to clients why the " pullback creates attractive entry points for UPS, FDX, and CHRW " ... We believe the cost reduction and network efficiency initiatives of UPS and FDX support margin improvement and EPS growth on a multi-year basis. While AMZN's focus on growing in transport markets is a risk, we also don't view it as a new risk. In our view, investors already assume that the addressable domestic parcel market for UPS and FDX is a slow growth market (eg in part due to impact of AMZN). We view the ~10% pullbacks in UPS an...