MongoDB’s shares skyrocketed by 16% in after-hours trading following the release of their fiscal second-quarter earnings report. The company exceeded expectations with adjusted earnings per share at 70 cents compared to the anticipated 49 cents. Additionally, revenue came in at $478.1 million, surpassing the projected $464.1 million. CEO Dev Ittycheria expressed confidence in MongoDB’s future
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The S&P CoreLogic Case-Shiller U.S. National Home Price Index recently reported that home prices have reached the highest level ever, even as mortgage interest rates are on the rise. According to data released in June, prices nationally were 5.4% higher than they were in June 2023. While this marks a record high for the index,
The modern era has seen a significant shift in the preference of consumers towards renting as opposed to owning. The affordability factor plays a major role in this trend, as highlighted in a report by Intuit Credit Karma. The rental industry has expanded to encompass a wide range of products and services, catering to the
As the tech earnings parade continues, Marvell Technology made headlines by reporting better-than-expected revenue in the latest quarter, causing the stock to surge about 8% after hours. However, it’s worth noting that Marvell is still down 18% from its March high, despite the recent positive performance. The VanEck Semiconductor ETF (SMH) is also experiencing fluctuations,
American Eagle failed to meet Wall Street’s sales expectations for the second quarter in a row, but managed to increase profits by almost 60%, largely due to lower product costs. The company’s shares dropped around 3% in early trading as a result. In the fiscal second quarter, earnings per share came in at 39 cents,
During a recent meeting, Chinese President Xi Jinping expressed his hopes for a stable, healthy, and sustainable relationship between China and the United States. While acknowledging the changes that have occurred in both countries and in their relations, Xi emphasized China’s commitment to fostering positive interactions with Washington. The tensions that have arisen between the
The concept of auto-enrollment and auto-escalation in 401(k) plans has long been hailed as a game-changer in retirement savings. However, recent research has shed light on the harsh reality behind this seemingly foolproof strategy. The National Bureau of Economic Research published a paper revealing that certain factors, such as workers cashing out their 401(k) balances
The landscape of cannabis consumption in New York has drastically changed, with the legalization of adult-use marijuana leading to a surge in licensed cannabis sales in the state. Over the past 3 1/2 years, legal avenues for cannabis consumption have gained momentum in the luxury market, symbolized by the opening of dispensaries on Fifth Avenue.