GameStop tumbles nearly 20% as Reddit-rally surge dies down

Trump Impeachment Trial Kicks Off With Harrowing Footage Of Capitol Attack

The second impeachment trial of former President Donald Trump kicked off Tuesday with a video compilation showing some of the darkest moments of the attack on the U.S. Capitol.

The footage emphasized Tump’s role in spurring on the violent riot, which is the subject of his impeachment trial, as it walked senators through a timeline of the events on Jan. 6. It started with Trump’s speech at the rally nearby, where he urged his supporters to “stop the steal” of the election and march to the Capitol, where lawmakers were gathered to certify the election in President Joe Biden’s favor. 

“You need to fight like hell, and if you don’t fight like hell, you’re not going to have a country anymore,” Trump says in the clips, which were interspersed with video of his supporters storming the Capitol, searching for lawmakers, and saying they need more weapons

Rep. Jamie Raskin (D-Md.), the lead impeachment manager, urged senators to consider what the footage showed.

“You asked what a high crime and misdemeanor is under our Constitution; that’s a high crime and misdemeanor,” Raskin said, referring to Trump’s behavior. “If that’s not an impeachable offense, then there is no such thing.”

Follow along with HuffPost’s live updates on the impeachment trial here.


CBA profit falls, confident of economic recovery

The Commonwealth Bank has delivered half-year cash profits of $3.9 billion, a 10.8 per cent fall on a year earlier, with the banking giant saying the economy is well positioned for recovery.

In a sign of the bank’s confidence, shareholders will receive an interim dividend of $1.50, up from 98c in the June half, but still lower than this time last year.

“Australia is relatively well positioned having started from a position of fiscal and economic strength,” chief executive Matt Comyn said.Credit:Louie Douvis

“Australia is relatively well positioned having started from a position of fiscal and economic strength,” chief executive Matt Comyn said.

“We have a solid pipeline of infrastructure projects, the outlook for mining and agriculture is strong, and the community has benefited from the government’s significant income support measures.”

Analysts had expected a dividend of about $1.45 a share, and earnings of about $3.9 billion from continuing operations, according to consensus estimates cited by Goldman Sachs.

More to come

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Marjorie Taylor Greene Says Trump Supporters Didn’t Storm Capitol

Rep. Marjorie Taylor Greene (R-Ga.) spouted yet another unhinged conspiracy theory on Tuesday, writing that Donald Trump supporters could not have attacked the Capitol on Jan. 6 because the invaders interrupted Republicans objecting to the election results.

“The attack RUINED our objection that we spent weeks preparing for, which devastated our efforts on behalf of Trump and his voters,” she wrote on Twitter.

In a stunning thread, the QAnon-supporting first-term lawmaker asserted that the attack targeted both parties, so how could Trump followers be involved? Her bonkers defense apparently was all in the name of exonerating the former president, facing his second impeachment trial Tuesday for allegedly inciting the deadly insurrection.

“Once again, Trump is the victim of the never ending hate fueled witch hunt” by Democratic media that has “brainwashed” the masses, she wrote despite a new study indicating that the rioters who were arrested were largely pro-Trump activists.

Greene, who in the past has claimed that school shootings were staged “false flag” events and that 9/11 was an inside job (though she attempted to walk back some of her statements last week), was recently removed from committee duty by the House for her extremist views.

Akamai Technologies Inc Q4 adjusted earnings Beat Estimates

Akamai Technologies Inc (AKAM) revealed earnings for fourth quarter that declined from last year.

The company’s earnings totaled $113.37 million, or $0.68 per share. This compares with $119.10 million, or $0.73 per share, in last year’s fourth quarter.

Excluding items, Akamai Technologies Inc reported adjusted earnings of $219.84 million or $1.33 per share for the period.

Analysts had expected the company to earn $1.31 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 9.6% to $846.29 million from $772.12 million last year.

Akamai Technologies Inc earnings at a glance:

-Earnings (Q4): $219.84 Mln. vs. $201.59 Mln. last year.
-EPS (Q4): $1.33 vs. $1.23 last year.
-Analysts Estimate: $1.31
-Revenue (Q4): $846.29 Mln vs. $772.12 Mln last year.

GameStop tumbles nearly 20% as Reddit-rally surge dies down

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GameStop stock jumps for second straight day

Reddit buys 5-second Super Bowl ad with nod to GameStop saga

Shares of video game retailer GameStop tumbled nearly 20 percent Tuesday to their lowest levels since the start of a retail investor-led surge that echoed across Wall Street.

Investors who followed the popular Reddit forum WallStreetBets helped push shares of GameStop to a closing high of $347.51 on Jan. 27 as part of a strategy to squeeze hedge funds that had taken a short bet on the retailer. Since then, GameStop has tumbled about 85 percent to near $40 a share.

The discussion of the stock was notably muted on Reddit as shares fell Tuesday.

“This really is like a party that’s dying down,” one user wrote.

Other Reddit favorites tumbled alongside GameStop, with AMC Entertainment shedding nearly 12 percent and BlackBerry dropping nearly 4 percent. The benchmark S&P 500 was flat in afternoon trading.

The average price target of analysts tracked by Refinitiv on the company is $13.44.

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