Morgan Stanley Faces Finra Probe on Client-Vetting, WSJ Says
The scrutiny focuses on the US bank's clients, risk ranking and other practices from Oct. 2021 through Sept. 2004, the report said, citing unidentified people familiar with the matter. Morgan Stanley is already facing potential fines from federal investigations into its anti-money laundering practices, the report said.
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6 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
6 minutes ago
- Yahoo
Why NIKE (NKE) Could Be a Comeback Story Among the Dogs of the Dow
NIKE, Inc. (NYSE:NKE) is included among the 11 Dogs of the Dow Dividend Stocks to Buy Now. A close-up of a hand holding a casual sneaker with the Nike logo on it. The world's biggest footwear company stated on Thursday that existing tariffs might push its costs up by around $1 billion. This announcement followed the release of its fiscal fourth-quarter 2025 results, which managed to surpass estimates. In fiscal Q4 2025, NIKE, Inc. (NYSE:NKE) reported revenue of $11.1 billion, which fell by nearly 12% from the same period last year. However, the revenue surpassed analysts' estimates by $373.5 million. The fourth quarter marked the period with the most significant financial impact from the company's 'Win Now' initiatives, and management expects these pressures to ease going forward. Leadership expressed confidence in the firm's ability to steer through the current unpredictable environment by maintaining focus on controllable factors and effectively carrying out the 'Win Now' strategy. NIKE, Inc. (NYSE:NKE)'s cash position also remained stable. The company ended the year with cash and equivalents and short-term investments of $9.2 billion. During the year, it returned $2.3 billion to shareholders through dividends. The company offers a quarterly dividend of $0.40 per share and has a dividend yield of 2.10%, as of July 26. It has raised its payouts for 23 consecutive years. While we acknowledge the potential of NKE 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. 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
Yahoo
6 minutes ago
- Yahoo
Where Will Cameco Stock Be in 3 Years?
Key Points Cameco's stock recently hit an all-time high. Uranium's soaring commodity price is driving that rally. But it still looks reasonably valued relative to its growth potential. 10 stocks we like better than Cameco › Cameco (NYSE: CCJ), one of the world's top uranium miners, usually isn't a high-growth stock. But over the past three years, its price surged about 250% and now hovers near its all-time high. The S&P 500 only rose 60% during the same period. Let's see why Cameco's stock crushed the market, and if it can keep climbing over the next three years. A look back at Cameco's lost decade Cameco, which is based in Canada, owns uranium mines and mills across Canada, the U.S., and Kazakhstan. It mined roughly 17% of the world's uranium in 2024, making it the second largest uranium miner after Kazatomprom (OTC: NATK.Y), Kazakhstan's national mining company. From 2011 to 2021, Cameco's annual revenue dropped from $2.41 billion to $1.18 billion (in U.S. dollars) without a single year of revenue growth. That decline started after the Fukushima nuclear disaster in March 2011, which triggered a global collapse in uranium prices as many countries cautiously reined in their nuclear energy plans. Uranium's spot price plunged from more than $70 per pound before the Fukushima disaster to less than $20 in 2017, and Cameco was forced to suspend work at its biggest mines and throttle back its production to conserve its cash. Before the uranium market could recover, the COVID pandemic disrupted the market again and forced the company to temporarily shut down more of its mines. The weak Canadian dollar exacerbated that decline because the miner sold its uranium in U.S. dollars. What happened over the past three years? But from 2021 to 2024, Cameco's revenue had a compound annual growth rate (CAGR) of 29% in Canadian dollar terms. Its gross margins also expanded to the double digits over the past two years. Metric 2022 2023 2024 Revenue growth 27% 39% 21% Gross margin 0.1% 21.7% 25% Data source: Cameco (all figures in Canadian dollar terms). That robust recovery was driven by uranium's spot prices, which soared from $29.63 in January 2021 to $78.50 this June. That rally prompted Cameco to restart its mining operations at McArthur River in Australia and Key Lake in the Canadian province of Saskatchewan in 2022 after being suspended in 2018. It also partnered with Brookfield Asset Management to acquire the nuclear power plant designer and builder Westinghouse Electric in late 2023. Its new 49% stake in Westinghouse should offset the volatility of its core mining business and make it the top uranium supplier for those plants. Several catalysts drove uranium's price higher over the past few years. The global supply shrank as Cameco and Kazatomprom curbed their production, but the demand rose as more countries initiated new nuclear energy plans and resumed their idled projects. Other global challenges are keeping uranium prices elevated. Russia, which was a major exporter of enriched uranium products and services to the U.S. and Europe, was hit by sanctions and export bans after its invasion of Ukraine in early 2022. Kazatomprom's supply chain issues and a coup in Niger (another key producer of uranium) in 2023 further reduced the global supply while driving more nuclear energy companies to buy their uranium from Cameco. What will happen to Cameco over the next three years? The bulls expect uranium's price to soar even higher as the market's demand continues to outstrip its available supply. The rapid growth of the cloud and AI data center markets -- which are driving more companies to consider using next-gen nuclear energy solutions like small modular reactors (SMRs) and microreactors -- could amplify those gains. Looking ahead, Cameco's 49% stake in Global Laser Enrichment (GLE) -- its uranium enrichment joint venture with Silex -- could transform it into a one-stop shop for nuclear power as it integrates those uranium enrichment capabilities into its core mining and conversion businesses. The International Atomic Energy Agency (IAEA) expects the world's nuclear capacity to expand by up to 2.5 times from 2024 to 2050, so Cameco could still have plenty of room to grow over the next few decades. From 2024 to 2027, analysts expect Cameco's revenue to have a CAGR of 8% (in Canadian dollar terms) as its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) have a CAGR of 16%. Its growth should cool off as it laps the big spike in uranium spot prices, the restarting of its mines, and its investment in Westinghouse Electric, but it still looks reasonably valued at 25 times this year's adjusted EBITDA. So even though Cameco's stock is trading near its all-time high, it could rise even higher over the next three years. Should you invest $1,000 in Cameco right now? Before you buy stock in Cameco, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Cameco wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Leo Sun has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Asset Management and Cameco. The Motley Fool has a disclosure policy. Where Will Cameco Stock Be in 3 Years? was originally published by The Motley Fool Sign in to access your portfolio
