Flutter, the parent company of FanDuel, made waves in the gambling industry with their recent second-quarter earnings report. The highlight of the report was FanDuel’s decision not to add a surcharge to offset an Illinois tax hike. This move set them apart from rival DraftKings, who had initially announced a surcharge for consumers in states
Earnings
Tencent, the Chinese tech giant, exceeded both revenue and profit expectations in the second quarter of the year. The company reported revenue of 161.12 billion Chinese yuan, surpassing the 160.77 billion yuan that was anticipated by analysts. Additionally, Tencent’s profit attributable to equity holders came in at 47.63 billion Chinese yuan, compared to the estimated
The stock market is a volatile and unpredictable space, especially when it comes to high-flying tech stocks like Palo Alto Networks. With the stock soaring nearly 17% in the lead-up to its fourth-quarter earnings report, it’s clear that investor expectations are high. However, as experienced investors know, high expectations can often lead to disappointment. It’s
Chili’s experienced a significant boost in same-store sales in its latest quarter, with a nearly 15% increase credited to an ad campaign targeting fast-food chains and a trending appetizer on TikTok. Kevin Hochman, CEO of parent company Brinker International, expressed that the impressive performance is a testament to the chain’s successful two-year turnaround. This success
Alibaba, the Chinese e-commerce giant, reported disappointing results for the June quarter of 2024. The company missed both revenue and net income expectations, signaling challenges in its core business operations. Revenue amounted to 243.24 billion Chinese yuan, falling short of the expected 249.05 billion yuan. Net income also saw a significant decline, coming in at
Norway’s massive sovereign wealth fund recently reported a first-half profit of 1.48 trillion kroner ($138 billion), with the majority of the gains attributed to robust returns on its investments in technology stocks. The Government Pension Fund Global, known as the world’s largest sovereign wealth fund, disclosed that it had a value of 17.75 trillion kroner
In a recent statement, UBS CEO Sergio Ermotti expressed concern regarding the potential intensification of market volatility in the second half of the year. While acknowledging the recent sharp sell-offs in global equities due to weak economic data from the U.S., Ermotti dismissed the idea of an impending recession in the United States. He did,
Home Depot recently announced quarterly results that exceeded expectations, but the company also expressed concerns about weaker sales in the latter part of the year. High interest rates and consumer hesitation are anticipated to have a dampening effect on demand, resulting in a projected decline of 3% to 4% in full-year comparable sales compared to
HelloFresh, the German meal kit company, has experienced a surge in its stock price following the release of its second-quarter earnings report. The company reported a profit that exceeded analysts’ expectations, with adjusted earnings before interest, tax, depreciation, and amortization reaching 146.4 million euros for the three months ending June 30. This figure, although down
As observed in the latest CNBC Investing Club with Jim Cramer livestream, U.S. stocks experienced a mixed performance on Monday. The S & P 500 and Nasdaq Composite both saw modest gains of 0.4% and 0.7%, respectively, while the Dow Jones Industrial Average dipped slightly by 0.1%. This fluctuation in the market was attributed to
