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
Earnings
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
Restaurant Brands International exceeded analysts’ expectations in its latest quarterly report, driven by strong sales at Tim Hortons and the company’s international restaurants. Despite the CEO, Josh Kobza, expressing disappointment in the absolute top-line results, he emphasized the company’s ability to outperform key competitors in major markets. Financial Highlights The second-quarter net income for Restaurant
Under Armour recently reported a decline in sales across its business, but the athletic apparel retailer managed to exceed expectations for its fiscal first quarter results. The company’s stock surged by 17% in early trading after beating Wall Street’s estimates on both the top and bottom lines. Despite this positive performance, Under Armour reported a
E.l.f. Beauty’s latest quarter results showcased a remarkable 50% increase in sales, reaching a total of $324.5 million. This growth follows an impressive 76% surge in the same period the year prior. CEO Tarang Amin attributed this success to growth across all product categories, with the Bronzing Drops serum standing out as a best seller
Eli Lilly recently released its second-quarter earnings report and it has exceeded expectations by a significant margin. The company reported earnings and revenue that surpassed forecasts, and this has led to a surge in its stock price. Shares of Eli Lilly jumped more than 7% following the release of the earnings report, indicating that investors
Siemens, the German industrial technology giant, reported a quarterly operating profit of 3 billion euros, which was 11% higher than the same quarter last year and surpassed analyst expectations. Despite challenges in the market, the company’s performance was described by CEO Roland Busch as “very, very strong.” Although comparable orders decreased by 15% from the