Adobe, the software giant, experienced a significant surge in shares by 15% following the announcement of its quarterly earnings report. The company exceeded analysts’ estimates by reporting adjusted earnings per share of $4.48, compared to the consensus estimate of $4.39 per share by LSEG. Moreover, Adobe’s revenue also saw a 10% increase from the previous
Earnings
On Thursday, the CNBC Investing Club with Jim Cramer held its “Morning Meeting” livestream where they discussed key moments in the market. The day saw mixed performance in U.S. stocks, with the S&P 500 trading near record highs. The release of May’s producer price index data suggested that inflation pressures may be easing, while weekly
Larry Ellison, the Chairman of Oracle, has seen a significant increase in his wealth recently. With Oracle forecasting double-digit revenue growth for the fiscal year, Ellison’s net worth has skyrocketed by almost $19 billion. This surge in wealth has positioned him as the fifth-richest person globally, and just behind Meta CEO Mark Zuckerberg. Ellison’s ownership
Broadcom, a leading chipmaker, reported its earnings for the second fiscal quarter on Wednesday, exceeding analysts’ estimates. In addition to this positive news, the company also announced a 10-for-1 stock split, which is scheduled to commence trading on a split-adjusted basis on July 15. As a result, the stock price surged by approximately 10% in
In a surprising turn of events, Oracle’s shares skyrocketed by as much as 9% in after-hours trading following the announcement of cloud deals with tech giants Google and OpenAI. This positive development comes on the heels of the company’s fourth-quarter financial results that failed to meet Wall Street’s expectations. Although Oracle’s earnings per share fell
GameStop, a popular video game retailer, recently reported its first-quarter financial results which failed to showcase any signs of operational improvement. The company disclosed a significant decline in net sales, dropping by 29% to $881.8 million from $1.237 billion in the previous year. This decrease in sales was more prominent than what Wall Street analysts
Lululemon, the athletic apparel giant, recently reported flat comparable sales in its largest market, the Americas. This news comes as a disappointment following the company’s impressive earnings beat. While the earnings per share exceeded expectations at $2.54 compared to $2.38 expected, the revenue only slightly topped estimates at $2.21 billion versus $2.19 billion expected. Despite
Dollar Tree recently announced that it is exploring the possibility of selling its Family Dollar brand, which focuses more on groceries. This decision comes after the company revealed plans to close nearly 1,000 Family Dollar stores in an effort to revamp the struggling business. During the first quarter of its fiscal year, the discounter shut
Monzo, the British digital challenger bank, has reached a significant milestone by reporting its first full year of profitability. The fintech startup revealed in its annual financial results that it achieved pre-tax profits amounting to £15.4 million ($19.6 million) in the 2023-2024 fiscal year. This marks a remarkable turnaround from the previous year, where Monzo
Costco Wholesale has exceeded Wall Street’s expectations for its third-quarter earnings, showcasing a robust financial performance driven by increased sales and lower operating expenses. The company reported a total revenue of $58.52 billion for the fiscal 2024 third quarter, marking a 9.1% year-over-year increase and surpassing analysts’ estimates. Additionally, earnings per share came in at
