Mastercard Inc reported a better-than-expected profit for the fourth consecutive quarter on Thursday, as easing of COVID-19 restrictions drove a healthy recovery in cross-border spending, which is back at pre-pandemic levels.
The Dow Jones industrial average registered a record closing high on Friday and major equity indexes posted a third straight week of gains while the U.S. dollar slipped.
American Express Co reported a higher profit that topped Wall Street estimates for the fourth straight quarter, as higher usage of its cards, particularly by millennial and Gen Z customers, fueled a strong recovery in overall spending.
Warren Buffett's Berkshire Hathaway Inc (BRKa.N) on Saturday said many of its businesses are enjoying strong recoveries from the early depths of the coronavirus pandemic, fueling rebounds in profits and revenue.
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Marqeta logo is seen on a smartphone in front of displayed stock graph in this illustration picture taken June 9, 2021. REUTERS/Dado Ruvic/Illustration
Shares of Marqeta Inc (MQ.O), which provides payments services to customers including Uber Technologies Inc (UBER.N) and DoorDashInc, rose more than 20% in their Nasdaq debut, giving the firm a market capitalization of over $17.2 billion.
The financial technology startup s stock opened at $32.50 on Wednesday, compared with its initial public offering (IPO) price of $27 per share. Marqeta s IPO was priced well above its target price range of $20 to $24 per share.
The Oakland, California-based company sold 45.45 million shares in its IPO, raising about $1.2 billion. It had previously been backed by investors including Uber, Goldman Sachs Group Inc and Visa Inc (V.N).