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President-elect Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, on July 27, 2024.Kevin Wurm | ReutersTrump Media is in "advanced talks" to buy the cryptocurrency trading firm Bakkt, the Financial Times reported Monday, citing two people with knowledge of the talks.The news sent shares of both companies soaring.Trump Media, which is majority owned by President-elect Donald Trump, shot up by double digits minutes after the Financial Times report was published.The company, which operates the Truth Social app and trades on the Nasdaq as DJT, closed more than 16% higher.Shares of Bakkt — which was created by Intercontinental Exchange, the owner of the New York Stock Exchange — skyrocketed more than 162% amid repeated trading halts due to volatility.Kelly Loeffler, a pre...

It's hard to imagine much more upside for the current stock market, according to Bank of America. "The S & P 500 is statistically expensive on almost every metric," Savita Subramanian, the firm's equity and quant strategist, wrote Friday. "But this is hardly new news. On basic math, today's price to normalized EPS ratio of 27x implies 1% price returns [per annum] over the next decade." Of course, the index comprises "higher quality, less levered and more asset-light" companies than it has in the past, meaning the return forecasts when compared with prior decades are "likely too punitive," she noted. Regardless, Subramanian noted sentiment and positioning indicators have become "dangerously bullish" for the market, especially given possible risks around tariffs and higher bond yields th...

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. The trade show runs through June 7. Annabelle Chih | Bloomberg | Getty ImagesEmbattled server maker Super Micro Computer said on Monday that it's hired BDO as its new auditor and submitted a plan to Nasdaq detailing its efforts to regain compliance with the exchange. The shares jumped 23% in extended trading."This is an important next step to bring our financial statements current, an effort we are pursuing with both diligence and urgency," Super Micro CEO Charles Liang said in a statement.Super Micro is late in filing its 2024 year-end report with the SEC, and said earlier this month that it was looking for a new accountant after its previous a...

A mural promoting bicycle travel as a means to 'arrive happy' outside a Walmart Home Office location in Bentonville, Arkansas, US, on Monday, Nov. 21, 2022. Terra Fondriest | Bloomberg | Getty ImagesStocks @ Night is a daily newsletter delivered after hours, giving you a first look at Tuesday and last look at today. Sign up for free to receive it directly in your inbox.Here's what CNBC TV's producers were watching on Monday and what's on the radar for the next session.Walmart reports before the bellThe retail giant will be the big corporate report of Tuesday morning. The stock is up about 14% since last reporting three months ago. Walmart is 2% from the high it hit last week. The stock is up 60% in 2024. Target reports Wednesday. The stock is up nearly 9% in three months, and is 14% from i...

An undersea fibre optic cable between Germany and Finland has stopped working and might have been deliberately cut by an unknown party, according to authorities.The 729 mile (1,173km) C-Lion1 cable under the Baltic Sea from Helsinki to Rostock went offline just after 2am GMT on Monday. The outage was reported by Finnish state-controlled cyber security and telecoms company Cinia.A physical inspection has not yet been done but the abrupt nature suggests it was completely severed by an outside force, said chief executive Ari-Jussi Knaapila. Germany's foreign office said it was "deeply concerned" and it "immediately raises suspicions of intentional damage".A statement said: "Our European security is not only under threat from Russia's war of aggression against Ukraine, but also from hybrid war...

The Kremlin has criticised President Joe Biden for adding "fuel to the fire" after giving Ukraine permission to launch US missiles into Russia.Kremlin spokesman Dmitry Peskov told reporters: "It is obvious that the outgoing administration in Washington intends to... continue adding fuel to the fire and provoking further escalation of tensions around this conflict." Russia's Foreign Ministry added that the action by Mr Biden's administration would fundamentally alter the nature of the war and trigger "an adequate and tangible" response.The UK has refused to reveal if it plans to follow suit, for example extending the use of British-supplied Storm Shadow missiles by Ukraine to hit targets inside Russia. Follow latest: Ukraine war live updatesBritain's Defence Secretary John Healey told the H...