Paytm shares rise after CEO exits payments bank board
Shares of Paytm owner One 97 Communications jumped 5% in early India trading on Tuesday, after the company’s chief executive officer stepped down from the board of its payments bank unit.
The company said in a release late Monday that Vijay Shekhar Sharma would exit his role as a non-executive chairman and board member of Paytm payments bank in a major board overhaul.
Paytm’s banking unit faces regulatory challenges
Paytm’s banking unit has been ordered by the Reserve Bank of India to stop accepting fresh deposits in its accounts or its digital wallet from March 15.
It’s also reportedly being probed by the federal anti-fraud agency on possible violations of foreign exchange laws.
Japan’s January core consumer prices cool year-over-year
Data showed Japan’s core consumer prices rose at a slower pace in January compared to a year ago.
Core CPI rose 2% in January from a year earlier. Japan’s core consumer price index includes oil products but excludes fresh food prices.
The reading was still above a Reuters poll expectation of a 1.8% year-over-year increase.
The core CPI reading also matched the Bank of Japan’s target of 2% inflation.
This stock is even ‘hotter’ than Nvidia — and it’s ‘not that overpriced,’ veteran investor says
Nvidia isn’t the only star of the artificial intelligence boom — in fact, there’s an even “hotter” one right now, according to Louis Navellier, chairman and founder of Navellier & Associates.
“They beat their guidance. And it’s not in the S&P 500 right now. They’ll probably be added,” he said of the stock.
How to invest $100,000 right now, according to the pros
Equity markets have had a good start to the year, with the S&P 500 benchmark crossing 5,000 earlier this month and Europe’s Stoxx 600 index hitting an all-time high.
Looking ahead, market consensus sees “a perfect combination of bullish factors,” according to Wells Fargo Investment Institute’s Paul Christopher — but he’s not so sure.
As investors ponder how — and where — to invest in this uncertain climate, CNBC Pro asked market experts where they recommend allocating $100,000.
Stocks making the biggest after-hours moves
These are some of the stocks making notable moves in extended trading:
- Zoom Video — The video-conferencing stock surged 11% following a better-than-expected fourth quarter earnings report.
- CarGurus — The online car retailer platform dropped 9% after providing poor guidance for the current quarter.
- Hims & Hers — The consumer-focused health platform jumped 15% after earnings and guidance topped Wall Street forecasts.
Crypto equities surge as bitcoin breaks through $54,000 for the first time since December 2021
Stocks tied to the price of bitcoin surged in late afternoon trading as the cryptocurrency shot above the $54,000 level for the first time since December 2021.
Coinbase rocketed higher by 17%, while Microstrategy jumped 16%. Riot Platforms and Marathon Digital, the largest bitcoin miners, soared 16% and 22%, respectively.
Most of the crypto market got a lift from bitcoin. Ether gained more than 2% to trade at $3,173.08. Solana and Cardano’s ADA token advanced about 4% each, while Polygon’s MATIC token rose 7%.
Bitcoin traded flat in the week leading up to Monday morning, when the breakout began and put it on track for a 27% monthly gain.
