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Tech stock ‘meltup’ puts Nasdaq-100 on verge of exiting bear market

A technology stock “meltup” put the Nasdaq-100 index on the verge of exiting bear-market territory Thursday. indexNDX, +3.38%, Heavily weighted toward megacap names, it was up 2.9% at 12,727 Thursday afternoon, and traded as high as 12,880.98. A close at or above 12,815.21 would mark a rise of 20% from its Oct. 17 low close …

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Meta Platforms Shares Surge on Cost Cuts, Stock Buyback

Facebook parent Meta Platforms Inc. META 22.51% Shares are on pace for their best day in nearly a decade after the company embraced investor-friendly moves including boosting its stock through a $40 billion buyback and cutting expenses in the face of increased competition. Shares of the social-media company jumped 23% to $188.02 in afternoon trading …

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Japanese stocks climb for the second day as Hong Kong stocks drop

Asia-Pacific stocks were mixed Thursday, Feb. 2, Japanese shares climbing for the second session. The Hang Seng Index HK:HSI of Hong Kong companies 0.5% to 21,958.36, while the Nikkei 225 Index dropped JP:NIK of Japanese companies gained 0.2% to 27,402.05. China’s Shanghai Composite Index CN:SHCOMP was flat at 3,285.67, while Singapore’s FTSE Straits Times Index …

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Why America Should Ban Crypto

The Bitcoin logo on a Coinstar cryptocurrency ATM at a grocery store in Washington, Jan. 19. Photo: stefani reynolds/Agence France-Presse/Getty Images In the US in recent years, privately owned companies have issued thousands of new cryptocurrencies, large and small. These have subsequently become publicly traded without any governmental pre-approval of disclosures. In some cases, a …

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Comcast sells nearly 6 million shares of its Buzzfeed stake amid sharp rally

Comcast Corp. has sold part of its stake in Buzzfeed Inc., which has seen its shares surge in recent days amid enthusiasm for the publisher’s artificial intelligence efforts. comcast CMCSA, +1.58% disclosed Wednesday in a filing with the Securities and Exchange Commission that it sold 5,726,385 shares of Buzzfeed BZFD, -5.22% in the open market …

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Apple to pay $2.5 billion to stream Major League Soccer for the next 10 years

CUPERTINO, Calif. (AP) — After taking its first dip into sports streaming last year, Apple is now immersing itself. The tech giant kicked off a 10-year partnership with Major League Soccer on Wednesday with the launch of Season Pass on Apple TV+. This is very important for us. It is one of the key things …

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Meta wins bid to buy VR startup Within Unlimited, beating US FTC in court: report

A California judge on Wednesday denied the Federal Trade Commission’s bid for a preliminary injunction to block Meta Platforms Inc.’s proposed acquisition of VR startup Within Unlimited. The sealed decision from federal judge Edward Davila of San Jose, Calif., does not preclude the agency from pursuing a separate case to block the deal, according to …

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