H&M, one of the world’s most renowned retailers, experienced a significant blow when its second-quarter profits fell short of expectations. The company reported a 14% drop in its shares, causing alarm among investors. This plunge was primarily due to H&M’s lower-than-anticipated operating profit of 7.1 billion Swedish krona, missing the mark of 7.37 billion Swedish
Earnings
Southwest Airlines shares took a hit in premarket trading as the carrier reduced its second-quarter revenue forecast. The airline cited changing booking patterns as the reason for the adjustment. Southwest now expects revenue per available seat mile to drop between 4% and 4.5% in the second quarter compared to last year. This is a significant
Casual-dining chains are experiencing a shift in customer behavior as consumers grow frustrated with the rising prices at fast-food establishments. Darden Restaurants CEO Rick Cardenas acknowledges this trend, noting that while Darden has not directly benefited from this shift, its competitors such as Brinker International and Dine Brands are successfully attracting customers away from quick-service
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
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