Category: Latest News
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Bumble Plunges 36% on Weak Revenue; Warner Bros. Reports Significant Loss; Digital Turbine Surges 18%, and More in Earnings
Bumble (NASDAQ:BMBL) – The dating and networking app reported a Q2 profit of $37.7 million (22 cents per share), beating the expected 15 cents, but its revenue was $268.6 million, below the $273 million forecast. For 2024, the company projects revenue growth of 1% to 2%, below the previous expectations of 8% to 11%. Shares…
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Intel Sued by Shareholders; JPMorgan Raises Chance of Recession; Roblox Blocked in Turkey; Micron Resumes Share Buyback
Intel (NASDAQ:INTC) – Intel was sued by shareholders who allege the company concealed financial problems that led to poor results, layoffs, and dividend suspension, resulting in a $32 billion market value loss in a single day. The lawsuit, filed in San Francisco, accuses Intel of misleading information that inflated stock prices. Since the bad news,…
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U.S. Stocks Move Back To The Downside After Initially Extending Yesterday’s Rebound
After extending yesterday’s rebound early in the session, stocks gave back ground over the course of the trading day on Wednesday. The major averages pulled back well off their early highs and into negative territory. The major averages ended the day just off their lows of the session. The Nasdaq slumped 171.05 points or 1.1…
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Grayscale Unveils Bittensor and Sui Funds, Polkadot Struggles at $5, Nexera Plummets 45% on Hack
Grayscale launches new crypto funds: Bittensor and Sui Grayscale Investments has launched two new funds: Grayscale Bittensor Trust and Grayscale Sui Trust, focusing on decentralized AI and scalable blockchain, respectively. Bittensor Trust invests in the TAO token linked to the Bittensor protocol (COIN:TAOBUST), while Sui Trust is dedicated to the SUI token (COIN:SUIUSD) of the…
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Oil Inventories Report Due
The Energy Information Administration is scheduled to release its report on oil inventories in the week ended August 2nd at 10:30 am ET. Crude oil inventories are expected to edged down by 0.4 million barrels after falling by 3.4 million barrels in the previous week. The Treasury Department is due to announce the results of…
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Futures Pointing To Extended Rebound On Wall Street
The major U.S. index futures are currently pointing to sharply higher open on Wall Street on Wednesday, with stocks likely to extend the rebound seen in the previous session. While stocks saw a notable advance during Tuesday’s session, traders may still see stocks as oversold following the recent weakness in the markets. Concerns the U.S.…
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US Index Futures Rise Amid Earnings Season Optimism, Oil Prices Rebound
US index futures rose in pre-market trading on Wednesday following a recovery that ended a three-day losing streak. Analysts question the sustainability of this rebound, predicting continued volatility but highlighting opportunities in the earnings season, with major reports from companies like Disney and CVS Health on the horizon. At 4:42 AM, Dow Jones futures (DOWI:DJI)…
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Joby Aviation Seeks Australian Certification, Arcadium Lithium Projects Suspended Due to Oversupply, and More
Arcadium Lithium Plc (NYSE:ALTM) – Arcadium Lithium will suspend or delay two of its four expansion projects due to a global oversupply and prolonged lithium price decline. The company revised the project timeline in Argentina and is considering bringing a partner for the Galaxy project in Canada. The changes will reduce capital spending by about…
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Novo Nordisk Adjusts Outlook, Airbnb Drops 16% on Declining U.S. Demand, Lumen Technologies Surges 48% in Premarket
Novo Nordisk (NYSE:NVO) – In the second quarter, Novo Nordisk reported a net profit of DKK 20.05 billion ($2.93 billion), below the forecast of DKK 20.9 billion. The company reduced its operating profit growth projection to 20%-28% for 2024, from 22%-30%. Sales growth forecasts were increased to 22%-28%. Competition in the weight-loss market is intensifying.…
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U.S. Stocks Snap 3-day Losing Streak, End On Firm Note
U.S. stocks closed higher on Tuesday, recovering well after three successive days of losses, as investors shrugged off fears of a recession and geopolitical concerns, and chose to indulge in some buying at reduced levels. Investors also reacted positively to the latest batch of corporate earnings news. The major averages all closed on a firm…