Ethereum completes its transition to proof-of-stake, ending lucrative and energy-consuming “mining”.Correcting the Ethereum hash rate model to account for used graphics card sales accounts for Nvidia’s fiscal Q2 results.The impact of the Merge on Nvidia’s sales will be, at best, ugly.How will the Merge affect Nvidia’s expected RTX 40 series launch?Investor takeaways: Will Nvidia need to restate guidance for this quarter?vzphotos/iStock Editorial via Getty ImagesThe Ethereum Foundation, which manages the Ether cryptocurrency, has announced completion of what it calls the Merge, whereby validation of new blocks of transactions no longer takes place by "mining". The millions of high-end graphics cards that are used for this will no longer beneeded for the new "proof-of-stake" approach, so tha

Netflix has teamed up with Ubisoft, one of Europe’s biggest video game companies, as the streaming giant seeks to bolster its fledgling gaming business.The California-based streaming service will launch three new mobile games next year based on Ubisoft’s games, including its most successful title Assassin’s Creed.The move comes as Netflix attempts to accelerate growth of its new gaming arm amid a slowdown in the company’s streaming business. The streaming group has lost more than half of its market value since April when it revealed its decade-long subscriber growth had ended.The partnership will entail the French gaming group developing the mobile games for Netflix. This will also include a game based on Ubisoft’s Mighty Quest, a castle-building and monster-looting game, and the historica

After CPI data on Aug. 10 showed US inflation decelerated by more than expected, the S&P 500 briefly surged to within a hair of its 200-day moving average. But the index then lost steam, failing to recapture that threshold and coming under pressure after a fast rise in Treasury yields rattled growth shares and upended the stock market’s $7 trillion early summer rebound.The difference this time is that investor positioning is already depressed, which is a contrarian sign, according to Keith Lerner, co-chief investment officer at Truist Advisory Services. “This suggests at least some investors are already braced for bad news and will not need to take aggressive selling action since they are already somewhat hedged,” he wrote in a note to clients.Meanwhile, US consumer-price inflation is

The key economic data is the US CPI for August will be released tomorrow night.Economists surveyed by Bloomberg expected headline CPI to rise 8.1% over the prior year in August, a moderation from 8.5% increase seen in July, and falling by 0.1% month-on-month. The core CPI increase by 6.1% year-on-year in August, higher than 5.9% in July and 0.3% month-on-month.However, investors expected that the Fed would raise interest rates by 75bp in September. Because the 8.1% inflation rate is still much higher than the 2% inflation target emphasized by Fed. Fed officials have been very hawkish in the past week. Traders are pricing in a 90% chance of a 75 b p rate hike at the September meeting, up from 57% a week earlier, according to CME Group's Fedwatch Tool.Wall Street looks unscrupulous. There is

Investors awaited August's consumer prices (CPI) report on Tuesday for any signs that inflation may be easing. It is expected to show that prices rose at an 8.1% pace over the year in August, compared with 8.5% in July.Wells Fargo economists expect headline inflation to log its steepest monthly decline since the peak of the pandemic in April 2020, helped by a pullback in gas prices.All 11 major S&P sectors traded higher on Friday, with communication services, technology, energy and consumer discretionary leading the way.Hammered since the beginning of the year over concerns about higher interest rates, high-growth stocks rose in the week.Investors are jittery about the prospects of another outsized interest rate hike from the Federal Reserve. On Friday, Fed Governor Christopher Waller

StarbucksStarbucks is a global coffee chain with more than 34,000 stores around the world. The company reported an encouraging set of earnings for its fiscal 2022's third quarter, with net revenue up 9% year over year to a record $8.2 billion. Comparable-store sales were up 3% globally, with the U.S. registering a 9% increase, and active Starbucks reward members climbed 13% year over year in the U.S. to 27.4 million members.During its recent biennial Investor Day, Starbucks unveiled an ambitious three-year financial roadmap to deliver annual comparable store sales growth of 7% to 9%, revenue growth of 10% to 12%, and earnings-per-share (EPS) growth of 15% to 20%. Founder and interim CEO Howard Shultz also introduced incoming CEO Laxman Narasimhan, who will assume his new role on April 1 ne

Nvidia plans to launch several new chips that could improve its fortunes.Meta Platforms trades at a bargain price with a still-huge global user base for its social media platforms.Moderna hopes to market its COVID-19 vaccines in China and achieve success with its omicron boosters.Analysts remain very bullish about these former big winners.Down but not out. That old adage applies to many one-time high-flying growth stocks.Some stocks have taken it on the chin more than others. But some also could rebound more strongly, too. Here are three beaten-down stocks that could soar from 58% to 88%, according to Wall Street.1. Nvidia: New chips on the wayNvidia is a former rising star that's crashing and burning this year. Shares of the graphics chipmaker have plunged close to 55% so far in 2022. Mac

For equity investors sunk in gloom, the interest rate rise expected from the Federal Reserve on Wednesday may actually yield some relief.US stock markets have been feeling the heat ahead of the Fed’s meeting, with the S&P 500 and the Nasdaq 100 Indexes falling 6.2% and 7% respectively over the past six days, on the outside chance Chairman Jerome Powell could adopt an even more hawkish stance to combat scorching inflation.Yet if history is any guide, markets may be due a bounce once the meeting is done and dusted.Over the past 18 months, the S&P 500 Index has risen after eight out of 10 Fed decisions. In the days following the Fed meetings in January, March and June, stocks rose between 6% and 9%, having dropped sharply in the run-up.“Expectations are very hawkish, and the Fed can c

U.S. stocks rose Friday following a choppy trading session as traders considered Federal Reserve Chair Jerome Powell’s latest comments on inflation.The Dow Jones Industrial Average rose by 221 points, or 0.69%. S&P 500 and Nasdaq 100 futures climbed 0.8% and 1.02%, respectively.Shares of DocuSign surged more than 17% in extended trading after the electronic agreements company reported an earnings beat. The company also issued a third-quarter revenue forecast that was above expectations.The Dow Jones Industrial Average jumped 193 points, or 0.61%, during the regular session on Thursday — closing higher after alternating between gains and losses throughout the day. The S&P 500 rose 0.66%, and the Nasdaq Composite advanced 0.60%.Those gains put all three major averages on pace to snap

Is crypto dead? Investors want to know as prices struggle to regain their footing after the big crash.This is a loaded question depending on the type of crypto investor you are, however.Crypto will not likely return to its 2021 peak, but that doesn't mean the asset class is doomed.This year’s crypto market crash was the worst in the short history of the asset class. That much is true, simply given how many more people were affected in the wake of it as opposed to previous crypto crashes. But is crypto dead as a result? The answer is a bit loaded. What is certain, though, is that a fundamental change will be occurring in the crypto market for years to come.

Nvidia plans to launch several new chips that could improve its fortunes.Meta Platforms trades at a bargain price with a still-huge global user base for its social media platforms.Moderna hopes to market its COVID-19 vaccines in China and achieve success with its omicron boosters.Analysts remain very bullish about these former big winners.Down but not out. That old adage applies to many one-time high-flying growth stocks.Some stocks have taken it on the chin more than others. But some also could rebound more strongly, too. Here are three beaten-down stocks that could soar from 58% to 88%, according to Wall Street.1. Nvidia: New chips on the wayNvidia is a former rising star that's crashing and burning this year. Shares of the graphics chipmaker have plunged close to 55% so far in 2022. Mac