Thursday saw a mixed performance in U.S. stocks as traders digested the latest data on May’s producer price index. The S & P 500 experienced a slight drop, although it remained close to record highs. Additionally, weekly jobless claims came in higher than expected, indicating some slack in the labor market despite the Federal Reserve’s
Earnings
Oracle Chairman Larry Ellison has seen a significant increase in his wealth, with a rise of almost $19 billion. This growth is attributed to the positive forecast of double-digit revenue growth for the fiscal year of the software maker he founded back in 1977. Ellison’s ownership of about 1.15 billion Oracle shares, which accounts for
Broadcom recently reported its earnings for the second fiscal quarter, surpassing analysts’ estimates. The company posted earnings per share of $10.96 adjusted, compared to the expected $10.84. Additionally, Broadcom’s revenue came in at $12.49 billion, exceeding the expected $12.03 billion. This strong performance led to a spike in the company’s stock price, rising approximately 10%
Oracle recently announced fourth-quarter results that fell short of Wall Street expectations. While the company’s earnings per share were slightly below expectations at $1.63 adjusted versus $1.65 expected, its revenue of $14.29 billion also missed analyst estimates of $14.55 billion. Despite this, Oracle’s revenue still managed to increase by 3% year over year during the
GameStop, the video game retailer, recently reported its fiscal first-quarter results, and the numbers paint a grim picture. The company posted net sales of $881.8 million for the period, which marks a significant decline of 29% from the previous year. This decline was even worse than what Wall Street analysts had predicted. The company also
Lululemon, a well-known athletic apparel retailer, reported flat comparable sales in the Americas, its largest market, sparking concerns about its growth prospects in the region. Despite beating Wall Street’s earnings estimates, the company’s revenue expectations were only narrowly exceeded. This indicates a potential slowdown in the growth of the brand in the Americas, a market
The recent announcement made by Dollar Tree regarding the potential sale of its struggling Family Dollar brand has sparked speculations in the retail market. This move comes as the company continues to face challenges in reviving the business and competing against its major rival, Dollar General. With plans to close nearly 1,000 Family Dollar stores,
Monzo, the British digital challenger bank, made headlines on Monday with the announcement of its first full year of profitability. The fintech startup revealed in its annual financial results that it had managed to achieve pre-tax profits of £15.4 million ($19.6 million) in its 2023-2024 fiscal year. This marked a significant turnaround from the previous
Costco Wholesale recently released its third-quarter earnings report, surpassing Wall Street’s expectations. The company experienced a 9.1% year-over-year increase in total revenue, reaching $58.52 billion. Additionally, Costco’s earnings per share for the quarter exceeded analysts’ forecasts, totaling $3.78. Despite a slight decline in stock value following the earnings announcement, Costco’s business model of offering quality
Best Buy recently reported lower-than-expected quarterly sales, adding to its ongoing struggles to meet Wall Street’s expectations. Despite this setback, the company highlighted its higher profits and lower costs as a silver lining to the situation. The decline in consumer electronics demand has been a major contributing factor to Best Buy’s challenges in generating revenue,