Gap shares were temporarily halted on Thursday morning after what seemed to be an early release of its quarterly earnings results. The company was scheduled to announce its second-quarter earnings after the market closed, but Bloomberg reported that a presentation revealing the results appeared on Gap’s website earlier in the day. The earnings information was
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The current labor market in the United States is experiencing a significant downturn, especially impacting young adults between the ages of 18 to 24. A recent report by the Federal Reserve Bank of St. Louis revealed that about 16% of young adults in this age group are not employed and not enrolled in high school
Nvidia’s recent fiscal second-quarter earnings report and premarket trade performance have stirred mixed reactions among investors. The company experienced a slight dip in gross margin but managed to surpass revenue expectations. However, these positive results were overshadowed by the high expectations set by analysts and investors. As a result, Nvidia’s stock witnessed a 4.6% decline
Ulta Beauty recently faced a setback as its shares plummeted by 7% in extended trading due to falling short of second-quarter expectations. The company reported a decline in comparable sales during this period, marking its first earnings per share miss since May 2020 and first revenue miss since December 2020. CEO Dave Kimbell acknowledged the
China’s housing market has been facing ongoing challenges despite numerous government stimulus efforts. According to JPMorgan economist Haibin Zhu, the current measures put in place have not been effective in supporting the sector. Home prices are still struggling to stabilize, with projections indicating that this trend may continue until 2025 at the earliest. Recent data
The latest research from Bank of America indicates that travel spending among American households is exceeding pre-pandemic levels, largely due to a growing interest in international trips. Economists Taylor Bowley and Joe Wadford note that vacationing abroad is a significant factor in the current trend, with spending up by 10.6% per household compared to 2019.
REA Group, a property listings company owned by Rupert Murdoch’s News Corp, has recently expressed interest in acquiring U.K. property portal Rightmove. This potential takeover offer is seen as a strategic move to create a global digital real estate business. While discussions with Rightmove have not yet taken place, the announcement has already made an
The British fund manager abdrn recently predicted that the U.S. economy is headed for a soft landing in 2025. However, Kenneth Akintewe, the company’s head of Asian sovereign debt, expressed concerns about the potential for a prolonged slowdown. In an interview with CNBC’s “Squawk Box Asia,” Akintewe raised the question of whether the Federal Reserve
On Thursday, the S&P 500 saw a 0.7% increase, despite tech giant Nvidia experiencing a decline post-earnings. Nvidia’s shares dropped 3.5% even after exceeding expectations in both revenue and earnings. The main concern was the company’s inability to meet analysts’ high forecasts for its full-year gross margins. Jim Cramer referred to this as a setback
China’s gaming industry recently made a significant leap onto the global stage with the release of Black Myth: Wukong. This top-tier video game, set in mythological China, shattered world records by selling over 10 million units within just three days of its launch on Aug. 20. The game continued its impressive streak by still ranking
