Finance
Verizon Shares Take a Hit After Q1 Sales Warning
March 13, 2025
BlackBerry Shares Jump to 2023 High After Thwarting 600K Cyberattacks
BlackBerry (BB) $4.02 (-5.58%) saw its stock soar to its highest point since 2023 following the announcement that it had successfully blocked 600,000 cyberattacks. This is impressive for a company often questioned about its relevance, with FAQs including inquiries like "Does BlackBerry still exist?" and "Do BlackBerry phones still work?"
Stocks Soar on Softer December Inflation Data
Markets surged yesterday after news that core inflation had slowed in December. The Nasdaq jumped 2.5%, while Bitcoin (BTC) $102,149.52 (-0.08%) briefly crossed the $100K mark, as the more moderate inflation report sparked renewed risk appetite among investors.
The money’s flowing… JPMorgan Chase (JPM) $259.80 (+2.02%), Goldman Sachs (GS) $628.00 (+2.12%), Citigroup (C) $80.24 (+1.89%), and Wells Fargo (WFC) $77.20 (+1.50%) unveiled their quarterly results yesterday, and the numbers were nothing short of spectacular. Investment banking giants JPMorgan and Goldman reported significant profit surges as deal-making activity picked up, fueled by growing optimism surrounding Trump’s return to power. JPMorgan saw a 50% jump in profits compared to last year, while Goldman’s earnings more than doubled. Citigroup swung back to nearly $3 billion in profits, reversing last year’s loss, and Wells Fargo’s net income skyrocketed by $1.5 billion. All four banks saw their shares climb in response to the strong results.
The deal-making boom… Banks attributed the blowout quarter to a surge in deal-making activity, as private equity firms eagerly sought financing. This, combined with hopes for a lighter regulatory environment under Trump, had banks seeing dollar signs. However, JPMorgan CEO Jamie Dimon voiced caution about Trump’s deficit-spending plans, warning that they could stoke inflation. Meanwhile, banks benefitted from higher interest income, with soaring rates on credit cards, mortgages, and loans contributing to their bottom lines.
Interest in the spotlight: On the same day, the Consumer Financial Protection Bureau filed a lawsuit against Capital One (COF) $191.30 (+1.34%), accusing the bank of “scheming” to withhold $2 billion in interest payments from customer accounts, including savings accounts.
Banks reflect the broader economy—but sometimes with a funhouse twist. The positive economic sentiment is showing up in the banks’ impressive financials, as traders bet on the Fed continuing to cut rates this year, which could further fuel the demand for deals and loans. Yet, experts warn that Trump’s proposed tariffs could spark inflation, which might rain on the parade for both the economy and the banks.
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Bringing back the woolly… What once seemed like science fiction is now a $10 billion venture. Colossal Biosciences, a de-extinction startup aiming to resurrect the woolly mammoth, dodo, and Tasmanian tiger, announced it has raised $200 million, bringing its valuation to $10.2 billion—six times its worth just two years ago. Using gene-editing technologies like CRISPR, the company is working to revive these extinct species by genetically engineering close relatives, including the Asian elephant.
The big goal: Colossal plans to create a woolly mammoth calf (or at least a genetically modified elephant) by 2028. Its investors include In-Q-Tel, the CIA’s investment branch, and celebrity Paris Hilton.
Beyond the mammoth: Colossal is also pushing the boundaries of genetic science, with breakthroughs like an elephant vaccine and research to help endangered animals better resist environmental toxins.
A monumental leap for science: Colossal is part of a growing wave of gene-editing optimism. CRISPR and similar technologies are being used in everything from agriculture (think sweeter tomatoes) to medicine (tackling antibiotic resistance). In 2023, the FDA approved Casgevy, the first CRISPR-based gene therapy for sickle cell disease, which began treating patients last year. Developed by Vertex Pharmaceuticals (VRTX) $422.00 (+1.21%) and Crispr Therapeutics (CRSP) $40.78 (+0.47%), it’s now available in 45 centers across the U.S.
The potential is massive: The global market for CRISPR genome editing is projected to reach nearly $29 billion by 2030.
But the price is high: Vertex recently reported $2 million in quarterly revenue from its first patient treated with Casgevy, reflecting the steep cost of such therapies in the U.S.
The stakes are huge: While gene editing promises to revolutionize medicine by potentially curing hereditary diseases like sickle cell and cystic fibrosis—and perhaps even eliminating them from the human gene pool—it also raises ethical concerns. Critics worry about “designer babies” and the risks of unregulated human experimentation (as seen with the controversial case of gene-edited twins).
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Advertiser's disclosures:
¹ The rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.
² Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.
³ December 23, 2024 will be the last day to invest and be considered a shareholder in 2024. Any investments made after this date will only be considered shareholders starting in 2025.
⁴ Please read the offering circular and related risk at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A+ Offering.
Past performance is no guarantee of future results. Investing in private company securities is not suitable for all investors because it is highly speculative and involves a high degree of risk. It should only be considered a long-term investment. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid, and there is no guarantee that a market will develop for such securities.
DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.
