Philip Morris 2Q EPS Tops Views, Company Boosts 2025 EPS Projection
The tobacco company, which sells cigarettes such as Marlboro, Parliament in overseas markets and smokeless tobacco such as Zyn worldwide, logged second-quarter earnings of $1.95 a share.
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Yahoo
14 minutes ago
- Yahoo
How ethereum rose to become a mainstream cryptocurrency
The Ether Machine, a new crypto venture formed through the merger of Ether Reserve and Dynamix Corporation (DYNX), is preparing to go public after raising over 400,000 ether (ETH-USD), equivalent to $1.5 billion, offering the public a new way to access cryptocurrency yields. The news came after a week when the ethereum cryptocurrency surged by over 20%, leading some to predict that it could pass $4,000 and sending long-term predictions into the $10,000s. Ether Machine isn't the first firm to do this. BitMine Immersion Technologies (BMNR), chaired by Fundstrat's Tom Lee, announced plans to begin stockpiling ether back in late June. SharpLink Gaming (SBET), a Nasdaq-listed sports-betting technology company, made a similar move in late May when it named Ethereum co-founder Joseph Lubin as its new chairman. Further adoption of the blockchain into the mainstream in recent months has supported ethereum's rise, including Robinhood's (HOOD) introduction of ethereum staking in the US and the passage of the stablecoin-focused GENIUS bill through the US Senate. Here's what to know about ethereum and what sets it apart from other blockchains. What sets ethereum apart? Ethereum is a decentralized blockchain platform that hosts programmable contracts and other cryptocurrencies. Its native crypto token, named ether but sometimes referred to as ethereum, is now the second-largest cryptocurrency by market cap, topped only by bitcoin (BTC-USD). A 'blockchain' is a digital record of transactions and other data. New 'blocks,' or batches of validated records, are added onto the publicly accessible chain, referencing previous ones, so that anyone using a blockchain agrees on the current state of finalized transactions. 'Transactions are entered, and then they are immutable," Algorand Foundation CEO Staci Warden told Yahoo Finance. "It is about integrity. You know when something is entered, nobody else can mess around with it.' In addition to ether and other popular cryptocurrencies, over 50% of all stablecoins in circulation are hosted on ethereum, and the platform can also be used to exchange NFTs and more, according to Galaxy. One major difference in how these transactions take place on ethereum compared to the bitcoin blockchain is that ethereum includes functionality for users to create and use so-called smart contracts. Smart contracts are programs that can execute financial operations when conditions are met, often used to develop applications known as decentralized finance or DeFi apps. These 'dapps' offer a variety of financial services without the middleman of traditional financial institutions. For example, a smart contract could be set up to automatically initiate a purchase once a cryptocurrency hits a certain price. For some, the fact that smart contracts can't be altered once put on the blockchain and that they operate based on code instead of being manually performed by an individual or institution are benefits of the system. How it began Ethereum launched on July 30, 2015, as 'Frontier' after raising $18 million in an initial coin offering (ICO) the year prior. The release followed a period when ethereum encouraged users to stress-test the blockchain by offering a prize of 25,000 ether. In 2016, ethereum network participants attacked a decentralized autonomous organization, or DAO, which had raised ether through crowdfunding. The users targeted a vulnerability in DAO's smart contracts and stole over $50 million worth of ether. To reverse the attack, ethereum created a controversial 'hard fork,' in which they rolled back the blockchain's history to before the theft. While most adopted this new blockchain, some refused and stuck with what is now known as Ethereum Classic. Since then, ethereum has continued rolling out updates, including a series known as 'The Merge' conducted in 2022. With it, ethereum switched from using proof-of-work for blockchain consensus to proof-of-stake, separating it from peers like bitcoin. Proof-of-work blockchains function through the work of 'miners,' or specialized computers that contribute computational power to validate transactions using cryptography. Miners are rewarded with newly issued cryptocurrency for the amount of computing power they contribute to verifying transactions. Under the proof-of-stake system, however, security comes from users locking a certain amount of the cryptocurrency they own into a smart contract as collateral before they can be selected to add new blocks of validated transactions to the blockchain. According to the Ethereum Foundation, this switch alone cut the platform's energy consumption by 99.5%, and co-founder Vitalik Buterin claimed that it would reduce the world's energy consumption by 0.2%. 'With climate concerns and ESG-investing remaining a major topic for institutional investors, ethereum's drastic energy reduction could open doors for additional capital flows and longer-term sustainability,' Tom Dunleavy, a senior research analyst with Messari, told Yahoo Finance. Broader adoption Since its launch, ethereum has drawn attention from investors and organizations alike. Visa (V) began settling transactions using the USD Coin (USDC-USD) stablecoin on the ethereum blockchain in 2021. 'The announcement today marks a major milestone in our ability to address the needs of fintechs managing their business in a stablecoin or cryptocurrency,' Visa chief product officer Jack Forestell said. 'It's really an extension of what we do every day, securely facilitating payments in all different currencies all across the world.' More recently, with stablecoin legislation passing this June, Wall Street executives, including JPMorgan Chase (JPM) CEO Jamie Dimon and Citigroup (C) CEO Jane Fraser, have indicated interest in working with crypto assets. Public figures have also joined the movement to adopt crypto. In February, Eric Trump posted to X, saying, 'In my opinion, it's a great time to add $ETH.' His words reflect a presidential administration that has been supportive of cryptocurrency. President Trump's Media & Technology Group filed to list an ETF that included ether, and the president celebrated the passage of the GENIUS Act on Truth Social. 'HAPPY CRYPTO WEEK!' Trump posted last week. 'This is our moment — Digital Assets, GENIUS, Clarity!' David Hollerith contributed to this post. — Nina is a data reporting intern for Yahoo Finance.
Yahoo
14 minutes ago
- Yahoo
Dogs of the Dow: Why Procter & Gamble (PG) is a Pillar of Dividend Stability
The Procter & Gamble Company (NYSE:PG) is included among the 11 Dogs of the Dow Dividend Stocks to Buy Now. A happy couple viewing the products of this household and personal product company in a mass merchandiser store. The Procter & Gamble Company (NYSE:PG) owns several leading consumer brands like Pampers and Tide— products that are considered essentials for many households. While there's always a possibility that consumers could opt for cheaper, generic alternatives, recent sales figures don't indicate any major shift in buying behavior that would pose a serious threat to the business. The Procter & Gamble Company (NYSE:PG) is considered one of the most reliable dividend stocks in the market. Its stability comes from a wide range of top-tier brands in areas like beauty, health, grooming, home care, and family care. Thanks to strong customer loyalty and an efficient global supply chain, the company regularly posts profit margins that outperform many competitors. The Procter & Gamble Company (NYSE:PG)'s long-standing financial strength is further proven by its impressive 69 consecutive years of dividend increases, which is one of the longest growth streaks among publicly traded companies. On July 8, the company declared a quarterly dividend of $1.0568 per share, in line with its previous dividend. With a dividend yield of 2.67% as of July 26, PG is among the best dogs of the Dow. While we acknowledge the potential of PG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None.
Yahoo
an hour ago
- Yahoo
Robinhood's tokenised stocks are seen as ‘next major driver of onchain adoption'
Tokenised debt helped DeFi survive the 2021 to 2022 bear market, but a pivot to tokenised stocks could boost the $115 billion crypto sector's next growth phase. That's according to a Monday report by Wintermute, a crypto market maker, that said market conditions necessary to incentivise the pivot are already emerging. The report said central banks are likely to lower interest rates in the next 12 to 18 months, which could dampen bond yields and other debt instruments. And Robinhood is positioning itself to capitalise on the market shift as the fintech app debuted tokenised stock trading for its users in June. 'Robinhood's timing is significant,' Wintermute said. 'As the yield trade loses momentum, tokenised equities, less dependent on interest rate dynamics, could emerge as the next major driver of onchain adoption.' Tokenised equities don't rely on interest rate gymnastics, the way bonds do. Instead, they offer volatility, growth, community, appeal, and retail excitement. Retail excitement has been noticeably absent from DeFi since the height of its buzz in 2021. Making a splash But for now, tokenised stocks remain a tiny slice of DeFi's real-world asset, or RWA, pie. They account for only $424 million out of the $25 billion RWA market, which is mostly dominated by tokenised credit, Treasuries, and other low-velocity debt instruments. And while Robinhood has made a splash, competition is brewing. Crypto-native rivals like Kraken and Bybit are also ratcheting up their tokenised stock trading offerings, while Ondo Finance has sought regulatory approval to buy Oasis Pro, a regulated broker. Coinbase has also applied to the Securities and Exchange Commission for approval to offer tokenised stock trading. For Wall Street incumbents, tokenised stock trading could upend the status quo and push them to play second fiddle in their own arena, according to Galaxy Digital analysts. Last week, the crypto firm warned that fintech disruptors like Robinhood and crypto-native players like Coinbase and Kraken moving into tokenised equities could reduce titans like the New York Stock Exchange to 'mere custodians.' And traditional firms like JPMorgan, Wells Fargo, and Citigroup are already scrambling to adapt by launching stablecoin and tokenisation platforms. Still, Galaxy Digital analysts say the market edge will lie with participants that not only offer trading but also control the underlying blockchain infrastructure. Crypto market movers Bitcoin is up slightly by 0.1% over the past 24 hours and is trading at $108,832. Ethereum is also up slightly by 0.5% in the same period to $2,575. What we're reading A digital euro will be a poor and crippled substitute to stablecoins — DL News Jack Dorsey Tests Decentralized Messaging App Bitchat — Unchained 3 factors impacting crypto this week — Milk Road Vitalik's EIP-7983 Calls For 16.77M Gas Cap Per Transaction — Unchained Solana bot platform Axiom takes over AI coder Cursor with $150m revenue fuelled by airdrop hype — DL News Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
