H&M saw its shares plummet by more than 14% following the release of its second-quarter financial results. The company reported a smaller-than-expected increase in profits, causing concern among investors. Operating profit for the period fell short of analyst estimates, coming in at 7.1 billion Swedish kroner, compared to the anticipated 7.37 billion Swedish kroner. Despite
Earnings
Southwest Airlines recently announced a 4% decrease in its shares during premarket trading, following a revision of its second-quarter revenue forecast. The airline cited changing booking patterns as the primary reason for the adjustment. Southwest now predicts a fall of 4% to 4.5% in revenue per available seat mile for the second quarter compared to
Casual-dining chains are experiencing a shift in customer behavior, with more consumers showing interest in their offerings compared to traditional fast-food establishments. Darden Restaurants CEO Rick Cardenas highlighted this trend, pointing out that while Darden has not directly benefited from this shift, its competitors like Brinker International and Dine Brands have been successfully luring in
Adobe, the software giant, saw a remarkable surge in its shares by 15% following the release of their latest earnings report. This surge, the largest since March 2020, was triggered by the company’s solid financial performance that surpassed analysts’ expectations. The company reported adjusted earnings per share of $4.48, exceeding the consensus estimate of $4.39
On Thursday, the U.S. stock market saw mixed results as investors reacted to the release of May’s producer price index data, suggesting that inflation pressures may be starting to ease. While the S & P 500 dipped slightly, it continued to hover near record highs. Additionally, higher than expected weekly jobless claims hinted at a
Broadcom recently released its earnings report for the second fiscal quarter, surpassing analysts’ expectations. What caught the attention of many investors was the announcement of a 10-for-1 stock split, which is set to take effect on July 15. This news resulted in a significant boost in the company’s stock price, which surged by about 10%
Larry Ellison, the iconic chairman of Oracle, has seen his net worth skyrocket by nearly $19 billion as the software giant he founded continues to thrive. With Oracle forecasting double-digit revenue growth for the fiscal year, Ellison’s fortune has reached an impressive $170 billion, placing him among the world’s top five richest individuals. Despite stepping
Oracle recently announced that their fourth-quarter results fell short of Wall Street expectations. Despite this setback, the company’s shares jumped as much as 9% in extended trading after revealing new cloud deals with Google and OpenAI. Earnings per share came in at $1.63 adjusted, slightly lower than the $1.65 expected by LSEG consensus. Revenue for
GameStop, the popular video game retailer, recently reported its fiscal first-quarter results, and the numbers were not encouraging. The company’s net sales for the period were $881.8 million, representing a significant 29% decline from the previous year. This decline was even more severe than what analysts had predicted, with estimates ranging from $900 million to
Lululemon, the popular athletic apparel retailer, is facing challenges in its largest market, the Americas. In its latest earnings report, the company revealed flat comparable sales in the region and issued weak guidance for the current quarter. While Lululemon exceeded Wall Street’s earnings estimates, its revenue fell short of expectations. The company’s full fiscal year