Reported 2 months ago
Eli Lilly is set to announce its earnings on August 8, alongside other companies like Paramount Global and e.l.f. Beauty. Additionally, jobless claims data will be released, and Federal Reserve official Tom Barkin will comment on the economy. Also, MicroStrategy will implement its 10-for-1 stock split, affecting share prices.
Source: YAHOO
Reported 2 months ago
Analysts from Piper Sandler suggest that recent losses in Nvidia and AMD stocks present a significant opportunity for investors to 'buy the dip', as both companies are anticipated to benefit from increasing demand for artificial intelligence chips. Despite a reported delay in Nvidia's new Blackwell AI chip, analysts do not expect a major impact on the company's performance, and they highlight AMD's potential to grow in the market amidst Intel's recent struggles.
Source: YAHOO
Reported 2 months ago
Cathie Wood has made significant tech stock purchases, including shares of Amazon, AMD, and Roku, as her flagship fund ARK Innovation ETF (ARKK) reached new lows for 2024. This comes amid a broader market downturn sparked by disappointing US employment data, which heavily impacted tech stocks. Despite the bearish trend, Wood's strategy has historically involved using market sell-offs to acquire shares in companies she believes have strong potential. However, the ARKK fund has seen a continuous decline, losing over 20% this year and facing substantial outflows from investors.
Source: YAHOO
Reported 2 months ago
Dine Brands CEO John Peyton highlighted the challenges within the restaurant industry, revealing that the company experienced a drop in comparable same-restaurant sales growth despite exceeding profit expectations. He emphasized the importance of offering value and a great dining experience as key strategies to capture customer loyalty, especially as consumers are dining out less and are increasingly value-driven in their choices.
Source: YAHOO
Reported 2 months ago
Kroger has successfully defended against a lawsuit claiming it misled consumers with its 'farm fresh' label for eggs sourced from caged hens. U.S. District Judge Charles Kocoras ruled that the term 'farm fresh' does not imply that hens are free-ranging and that reasonable consumers would not interpret it that way. The lawsuit was initiated by a customer who believed the label misrepresented the conditions under which the eggs were produced.
Source: YAHOO
Reported 2 months ago
JPMorgan Chase CEO Jamie Dimon announced that he plans to retire eventually and confirmed Daniel Pinto as his emergency CEO successor, referring to him as the 'hit by a bus' pick. Dimon emphasized the exceptional qualities of JPMorgan's leadership and hinted he might stay on as chairman for a year or two after his departure. The need for a smooth succession plan is underscored by Dimon's prominence and past health issues.
Source: YAHOO
Reported 2 months ago
Occidental Petroleum outperformed Wall Street expectations, reporting a 34% higher adjusted profit for the second quarter, aided by increased oil production and rising crude prices following its recent acquisition of CrownRock. The company's production reached 1.26 million barrels of oil equivalent per day, above estimates, and it updated its annual production target to incorporate CrownRock's assets. Despite fluctuations in its chemical division, Occidental plans to reduce its debt through asset sales and cash generated from operations.
Source: YAHOO
Reported 2 months ago
Surge Transportation, once on the brink of bankruptcy amid a freight recession, has made a remarkable resurgence under the leadership of CEO Omar Singh. Drawing inspiration from the underdog story of Rocky Balboa, Singh implemented a strategic turnaround, focusing on streamlining operations, enhancing technology, and fostering strong relationships with carriers. By doing so, Surge not only survived but is now thriving, expanding its customer base and innovating its services while embodying resilience and determination in the face of adversity.
Source: YAHOO
Reported 2 months ago
Disney's shares are declining even after reporting a profitable Q3 with notable streaming success, as the company faces potential additional costs of up to $5 billion in its buyout of Hulu from Comcast. This appraisal concern raises investor hesitance, showcasing the complexities Disney navigates amid its growth strategy.
Source: YAHOO
Reported 2 months ago
Ripple Labs Inc. has been ordered to pay a $125 million civil penalty for the improper sale of its XRP token, significantly less than the nearly $2 billion the SEC initially sought. The ruling from U.S. District Judge Analisa Torres noted that the case did not involve fraud claims and highlighted that XRP was deemed a security only when sold to institutional investors. Ripple's CEO hailed the decision as a victory for the cryptocurrency industry, suggesting it could signal an end to rigorous SEC enforcement actions against crypto.
Source: YAHOO
Reported 2 months ago
Trex's shares have significantly dropped after the company reported a disappointing sales outlook, citing an uncertain economic environment and weakness in the entry-level market segment. Analysts Julie Hyman and Josh Lipton discuss the implications of Trex's second-quarter earnings and the impact of consumer weakness on its future prospects.
Source: YAHOO
Reported 2 months ago
Costco is set to enhance its membership verification process by introducing card scanners at the entrances of its warehouse stores. Members will be required to scan their physical or digital membership cards before entering, with only pharmacy guests or those with optometry appointments exempt from this rule. This initiative aims to curb membership-sharing practices, and it follows a trial of facial recognition technology to ensure proper identification. Additionally, Costco has raised its membership fees to further reinforce the importance of its membership structure.
Source: YAHOO
Reported 2 months ago
A federal judge has imposed a $125 million fine on Ripple for violating federal securities laws through its institutional sales of XRP, while programmatic sales to retail clients were deemed lawful. The judge also issued an injunction preventing Ripple from future violations and emphasized the likelihood of potential future breaches concerning the company's operations.
Source: YAHOO
Reported 2 months ago
Taylor Swift's upcoming shows in Vienna have been called off following the arrest of two individuals suspected of plotting a terrorist attack targeting her concerts. The Austrian government confirmed the threat, leading the concert organizers to cancel the events scheduled as part of her Eras Tour, which were supposed to take place this week at the Ernst Happel Stadium.
Source: YAHOO
Reported 2 months ago
Lyft's recent earnings report revealed its first-ever quarterly profit, but the company missed on second-quarter bookings and third-quarter guidance, resulting in a drop in stock prices. CEO David Risher emphasized the company's focus on long-term commitments and reiterated its full-year guidance, asserting that building trust with investors is crucial, even if it sometimes leads to short-term frustrations.
Source: YAHOO
Reported 2 months ago
Beyond Meat reported second-quarter sales of $93.2 million, surpassing analyst predictions despite a nearly 9% decline in revenue. The company narrowed its net loss to $34.4 million as it worked to streamline operations. While sales volumes fell 14% due to weak demand, the increase in net revenue per pound indicates a strategy of reducing discounts and raising prices. New product introductions aimed at health-conscious consumers are part of Beyond Meat's efforts to boost demand.
Source: YAHOO
Reported 2 months ago
Ralph Lauren's shares are declining despite exceeding earnings expectations in Q1. The key takeaways include strong performance in Europe and Asia, improved gross and operating profit margins year-over-year, and mixed results in North America where physical store sales increased by 3% but e-commerce and wholesale sales fell significantly.
Source: YAHOO
Reported 2 months ago
Intel had the chance to acquire a 15% stake in OpenAI for $1 billion in 2017 and 2018 but opted out, believing that generative AI would not be successful soon. Since then, Intel's fortunes have declined significantly as it struggles to compete in the lucrative AI sector, while OpenAI has thrived with its technologies like ChatGPT, highlighting Intel's failure to adapt in a market increasingly dominated by competitors like Nvidia.
Source: YAHOO
Reported 2 months ago
Robinhood reported revenue of $682 billion and adjusted earnings of $0.15 per share for the second quarter, exceeding earnings estimates. However, the trading platform missed Wall Street's user growth forecasts, raising concerns among investors.
Source: YAHOO
Reported 2 months ago
Intel Corporation is facing a class-action lawsuit from shareholders who claim the company concealed significant issues that resulted in disappointing second-quarter earnings. The lawsuit, filed in federal court in San Francisco, alleges that these hidden problems forced Intel to halt its dividend and announce a 15% workforce reduction. Among the defendants named are Intel's CEO Patrick Gelsinger and CFO David Zinsner.
Source: YAHOO
Reported 2 months ago
Warner Bros. Discovery (WBD) shares have sharply dropped in after-hours trading following a $9.1 billion impairment charge related to its linear networks. This charge was attributed to the disparity between market capitalization and book value, a weakening U.S. advertising market, and uncertainties over rights renewals. The company reported a significant loss of $4.07 per share for the second quarter, with revenues of $9.7 billion falling short of expectations.
Source: YAHOO
Reported 2 months ago
On August 1, U.S. Customs and Border Protection (CBP) officers made significant drug busts along the Southern and Northern borders, seizing 3,400 pounds of methamphetamine—valued at $48 million—hidden in a shipment of lettuce from Mexico at the Pharr International Bridge. Additionally, 266 pounds of cocaine were confiscated from a tractor trailer bound for Canada. These operations highlight the effectiveness of border enforcement efforts in combatting drug smuggling.
Source: YAHOO
Reported 2 months ago
Only about 10% of retirees manage to save $1 million or more for retirement, according to Smart Asset. The average net worth increases with age, peaking for those aged 65-69 at approximately $1.84 million. While the aspiration to save a million is widespread, many retirees live comfortably with much less, often supplemented by Social Security. Effective planning and disciplined saving can help ensure a secure retirement without needing to reach the million-dollar mark.
Source: YAHOO
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
Beyond Meat's revenue in the second quarter decreased by almost 9%, driven by reduced consumer demand for its plant-based burgers, chicken, and other products.
Source: YAHOO