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HomeBusiness

Business

Under Armour underwhelms with low guidance, job cuts, reduced SKUs, restructuring, CWEB analyzes

On Thursday Under Armour (UAA) said that it was looking at weak sales for the year. It also laid out a restructuring plan that...

Pizza Hut launches New Cheeseburger melt, web fans are curious

Pizza Hut announced its entry into the burger business with a new product called Cheeseburger Melt on May 14. The pizza chain is asking...

Illumina Shares Gain on Q2 Beat, While Outlook Misses

Illumina (NASDAQ:ILMN) saw a more than 3% gain intra-day today after the company’s Q2 results announcement. The company's adjusted EPS for the quarter exceeded...

AppLovin Stock Jumps 30 percent Following Q2 Report

AppLovin (NASDAQ:APP) saw its shares skyrocket by more than 30% intra-day today after posting its Q2 results. The company outperformed predictions with an EPS of...

ETSY Poor Q2 performance and difficulties in the retail and e-commerce sector

Poor Q2 performance and difficulties in the retail and e-commerce sectors have contributed to a 30% drop in Etsy's stock year to date. The company...

CWEB Summarized Business Newsletter August 9th 2023

Ecuadorian Presidential Candidate Shot Dead at Campaign Rally, Breaking News. Fernando Villavicencio was one of eight contenders in an upcoming election. On Tuesday, research showed...

The case for buying Groupon (NASDAQ:GRPN) is getting stronger

After the market closed on Wednesday, shares of Groupon (NASDAQ:GRPN) were up 3.8% because the business had beaten analysts' expectations. The company's second-quarter non-GAAP EPS...

Stocks decline as Moody’s issues a credit rating warning for six major US banks.

Bloomberg reported, after Moody's Investors Service downgraded 10 small and midsize lenders and warned that it may do the same to major companies like...

Lyft Stock Drops 10 percent Despite Better Than Expected Q2 Results

In early Wednesday trading, Lyft (NASDAQ:LYFT) shares dropped by nearly 10%, even though the company surpassed Q2 Street expectations and offered more optimistic guidance...

Twilio Jumps 10 percent Following Strong Q2 Results

Twilio (NYSE:TWLO) shares experienced more than a 10% rise intra-day today, following the release of its Q2 financial figures. The company's EPS, standing at...

Take-Two Interactive Software Reports Q1 Miss & Disappointing Outlook

Take-Two Interactive Software (NASDAQ:TTWO) reported its Q1 earnings and outlook, which fell short of projections. Take-Two posted a profit of 27 cents per share for...

Toast Stock Jumps 14 percent Following Q2 Earnings

Toast (NYSE:TOST) shares skyrocketed by more than 14% today in response to the company's Q2 financial results. The company reported a revenue of $978...

Doximity Shares Plunge 22 percent on Guidance Miss

Despite surpassing analyst expectations for its Q1 results, Doximity’s (NYSE:DOCS) revised guidance downwards led to a more than 22% decline in its shares intra-day...

CWEB Summarized Business Newsletter August 8th 2023

ESPN Signs $2 Billion Gambling Deal With Casino Firm. Following the release of positive earnings news, Penn National Gaming's (PENN) stock price skyrocketed. The...

Americans Credit Card Debt Hits a Whopping $1 trillion.

The eagerly awaited Quarterly Report on Household Debt and Credit, which offers a thorough overview of American households' financial health, was just released by...

Chegg Stock Jumps 20 percent Following Q2 Earnings Report

Chegg (NYSE:CHGG) exceeded expectations for its second-quarter revenues and outlined its intentions to further expand into generative artificial intelligence. This move is aimed at...

DaVita Upgraded at UBS, Shares Gain 3 percent

UBS upgraded DaVita's (NYSE:DVA) rating from Neutral to Buy, revising the price target upwards from $100.00 to $142.00. As a result, shares gained more...

Lucid Reports Worse Than Expected Q2 Results

Lucid Group (NASDAQ:LCID) reported its Q2 earnings yesterday. The EPS for the quarter came in at ($0.40), falling short of the anticipated consensus estimate...

Five9 Stock Drops 5 percent Following Q2 Results

Five9 (NASDAQ:FIVN) shares fell more than 5% pre-market today after the company reported Q2 results that surpassed expectations but came with a mixed outlook. The...

Beyond Meat Plunges 17 percent Following Q2 Revenue Miss & Disappointing Guidance

Following the release of its Q2 results, Beyond Meat (NASDAQ:BYND) witnessed a sharp decline of over 17% in pre-market today. The reported revenue for the...

Moody’s cuts U.S. bank ratings, warns of risks, bank shares fall

Moody's lowered the ratings of 10 regional banks in the U.S. It also put six banks on review. Following the rating cut late Monday,...

PayPal becomes first US financial institution to launch US Dollar Stablecoin for Web3 payments

PayPal (PYPL), a major financial institution in the U.S. created history as it launched a U.S. dollar-denominated stablecoin called PayPal USD (PYUSD), to facilitate...

CWEB Summarized Business Newsletter August 7th 2023

After a more than 400-point gain on Monday, Dow Jones futures remained relatively unchanged in the hours leading up to Tuesday's opening. On Monday,...

Adidas earns millions from Kanye West’s Yeezy surplus stocks sale after split with the celebrity rapper

Adidas (ADDYY), the giant footwear and apparel manufacturer had broken its partnership with celebrity rapper Kanye West and his Yeezy brand, after his antisemitic...

Tyson Foods Shares Drop 7 percent Following Q3 Results

Tyson Foods (NYSE:TSN) released its third-quarter financial results, which were not as strong as expected. This led to a decrease of over 7% in...

Palantir Technologies’ Price Target Raised at Citi

Citi analysts increased their price target on Palantir Technologies (NYSE:PLTR) from $6.00 to $10.00 while maintaining their Sell rating ahead of the company’s Q2/23...

Block’s Price Target Raised at Mizuho Securities

Despite a 14% post-earnings sell-off due to slowing July gross profit trends, Mizuho Securities expressed confidence in Block (NYSE:SQ) and reiterated a Buy rating...

Monster Beverage Upgraded to Overweight at Piper Sandler

Piper Sandler analysts upgraded Monster Beverage (NASDAQ:MNST) to an Overweight rating from Neutral and increased their price target to $63.00 from the previous $60.00....

Amazon Stock Surges 8 percent Following Strong Q2 Results

In the second quarter, Amazon exceeded analysts' predictions, delivering impressive results and providing positive guidance for Q3. The company's cloud business performed exceptionally well,...

Musk’s platform X to pay legal bills if people are ‘unfairly treated’ for posting on X

Late Saturday, Elon Musk posted on his platform X saying that it would bear legal costs of those who posted on the platform if...

Campbell Soup to acquire Italian sauce brand Sovos in all cash deal

On Monday, Campbell Soup Company (CPB) and Sovos Brand Inc. announced that the companies have reached a cash deal and the famous chicken noodle...

Soft Bank sues social media startup for alleged faking of user numbers and engagement

Soft Bank's Vision Fund (SFTBY) I has sued a social media startup alleging that it had faked user numbers and engagement. The startup was...

CWEB Summarized Business Newsletter August 6th 2023

After Elon Musk declared that their fight would be streamed live on X, formerly known as Twitter, Mark Zuckerberg responded by striking back and...

Will KKR buy Simon & Shuster? Advance talks are on, report says

Paramount’s publishing arm Simon & Shuster has been on sale for the past few years. According to a Thursday report by a popular outlet,...

Meta Threads to add ‘Search and web’ in the next few weeks’ Mark Zuckerberg says

Meta Platforms (META) CEO Mark Zuckerberg posted in detail on his social media about the new features that would be added to the new...

Cloudflare Reports Q2 Beat, Shares Gain 6 percent

Cloudflare (NYSE:NET) posted better-than-expected Q2 earnings, resulting in a significant 6% surge in its shares on Friday. For the second quarter, the company reported earnings...

Yelp Stock Surges 5 percent on Better Than Expected Q2 Results

Yelp (NYSE:YELP) shares rose nearly 5% on Friday after the company released its Q2 results, showing earnings per share of $0.21, surpassing the Street...

Booking Shares Gain 7 percent on Q2 Beat

Booking (NASDAQ:BKNG) shares gained more than 7% yesterday following the release of stronger-than-expected Q2 results. The company's revenue witnessed an impressive 27% year-over-year rise, reaching...

Fortinet Stock Drops 25 percent Following Q2 Earnings

Fortinet (NASDAQ:FTNT) faced a significant decline in its shares, dropping more than 25% on Friday. The cause of the downturn was the company's disappointing...

Customers at Wells Fargo Report Missing Deposits

According to the bank, a "limited number" of Wells Fargo (WFC) customers have been unable to view recent deposits. Wells Fargo customers expressed worries...

CWEB Summarized Business Newsletter August 4th 2023

Apple (AAPL) stock dropped 2.1% in Thursday's after-market trade, after the tech titan reported another quarterly sales fall. Services revenue hit a record $21.2B...

Airbnb Reports Q2 Beat, Shares Rise

Airbnb (NASDAQ:ABNB) shares rose more than 1% intra-day today as the company exceeded revenue expectations and provided Q3 guidance that aligns with estimates. The company's...

Atlassian Jumps 18 percent Following Q2 Beat

Shares of Atlassian (NASDAQ:TEAM) experienced a remarkable surge of more than 18% intra-day today, following the software company's impressive Q4 results. Atlassian's reported adjusted EPS...

CWEB Summarized Business News Letter August 3rd 2023

The U.S. economy and its long-anticipated descent into recession are complex issues, and Friday's jobs data may reveal an important piece of the puzzle....

Qorvo Reports Better Than Expected Q1 Earnings

Qorvo (NASDAQ:QRVO) reported its Q1 results, with EPS of $0.34 surpassing the Street estimate of $0.15. Furthermore, the revenue for the quarter amounted to...

Clorox Soars 9 percent on Strong Q4 Earnings

After reporting its Q4 results, Clorox (NYSE:CLX) witnessed a significant surge of over 9% intra-day today. The company's earnings per share for the quarter...

Etsy Stock Plunges 13 percent Following Q2 Earnings

Etsy (NASDAQ:ETSY) experienced a nearly 13% decline intra-day today after reporting Q2 earnings that fell short of expectations. The company posted an EPS of 45...

Robinhood Shares Drop 6 percent Despite Q2 Beat

Despite beating expectations with a surprise profit, Robinhood Markets (NASDAQ:HOOD) experienced a decline of more than 6%. The company reported earnings per share of 3...

DoorDash Stock Gains on Q2 Beat & Better Than Expected Outlook

DoorDash (NYSE:DASH) shares rose more than 3% intra-day today following the company's release of a full-year forecast that surpassed expectations. The company reported a loss...

CWEB Summarized Business News Letter August 2nd 2023

Several firms reported dismal profits at the beginning of August, leading to a downward close for the S&P to begin the month. JetBlue was...
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