ADVFN US – Market Content Editor
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Polestar Says Rising Fuel Costs Are Accelerating EV Interest
Polestar (NASDAQ:PSNY) said growing fuel costs linked to tensions in the Middle East are pushing more consumers toward electric vehicles, as drivers increasingly focus on the cost of gasoline rather than concerns about driving range. Speaking to CNBC’s “Squawk Box Europe,” chief executive Michael Lohscheller said consumer attitudes toward EVs are shifting as energy prices…
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U.S. Import and Export Prices Surge Sharply in April
Prices for imported goods into the United States rose significantly in April, according to a report published Thursday by the U.S. Labor Department. The data showed import prices climbed 1.9% during the month after increasing by an upwardly revised 0.9% in March. Economists had forecast a 1.0% rise in import prices, compared with the originally…
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U.S. Retail Sales Match Expectations With Steady April Growth
Retail sales in the United States rose in April at a pace consistent with market forecasts, according to data released Thursday by the U.S. Commerce Department. The report showed retail sales increased 0.5% during the month after rising by a downwardly revised 1.6% in March. Economists had anticipated a 0.5% gain in April, following the…
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U.S. Jobless Claims Rise More Than Forecast in Latest Labor Market Data
New applications for unemployment benefits in the United States increased more sharply than expected in the week ending May 9, according to figures published Thursday by the U.S. Labor Department. Initial jobless claims rose to 211,000, up 12,000 from the previous week’s revised total of 199,000. Economists had projected claims would increase to 205,000, compared…
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U.S. Futures Point Higher as Cisco and Nvidia Lift Tech Sentiment: Dow Jones, S&P, Nasdaq, Wall Street
U.S. stock futures traded higher on Thursday, with the Nasdaq positioned for additional gains after the technology-heavy index closed at a fresh record high in the previous session. Technology shares looked set to extend their recent rally following strong earnings-related momentum from Cisco Systems (NASDAQ:CSCO). Shares of Cisco surged 14.5% in premarket trading after the…
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Canada Goose Shares Rise After Quarterly Results Beat Expectations (GOOS)
Canada Goose (NYSE:GOOS) shares moved higher in U.S. premarket trading after the luxury outerwear brand reported fourth-quarter results that exceeded analyst forecasts for both revenue and earnings. The stock gained around 2% by 07:01 ET following the earnings release. Quarterly revenue totaled C$453.3 million, significantly above the analyst consensus estimate of C$300.6 million. Adjusted earnings…
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Fennec Pharmaceuticals Shares Rise After Earnings and Revenue Beat Forecasts (FENC)
Fennec Pharmaceuticals (NASDAQ:FENC) shares climbed more than 3% in premarket trading on Thursday after the company reported first-quarter results that exceeded analyst expectations, supported by strong sales growth for PEDMARK. The company posted adjusted earnings per share of $0.01, outperforming consensus forecasts for a loss of $0.04 per share. Revenue increased 73% year over year…
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Brookfield Shares Gain After First-Quarter Earnings Beat Expectations (BN)
Brookfield Corporation (NYSE:BN) shares rose about 2% in premarket trading on Thursday after the company reported first-quarter earnings that came in ahead of analyst forecasts. Brookfield posted distributable earnings per share of $0.66 for the quarter, surpassing the consensus estimate of $0.63 per share. Total distributable earnings increased to $1.6 billion, compared with $1.5 billion…
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Dillard’s Shares Rise After Earnings Beat Fueled by Litigation Settlement (DDS)
Dillard’s (NYSE:DDS) shares gained more than 4% in premarket trading on Thursday after the retailer reported first-quarter earnings that exceeded analyst expectations, supported by a major legal settlement gain and stronger retail performance. The department store operator posted adjusted earnings per share of $16.04, comfortably above Wall Street forecasts of $10.26 per share. Revenue increased…
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POET Technologies Shares Jump on Lumilens Supply Partnership (POET)
POET Technologies (NASDAQ:POET) shares climbed 16% on Thursday after the company announced a supply and development agreement with Lumilens that includes an initial $50 million purchase order for optical engines. The agreement creates a joint commercial and technology partnership centered on wafer-level photonic integration for artificial intelligence optical networking applications. Initial Order Could Expand Into…