The halt in Gap shares on Thursday morning stemmed from the premature release of the company’s quarterly earnings results. The incident occurred when a presentation containing the financial outcomes was briefly made available on Gap’s website, causing the stock to be temporarily halted from trading. This unexpected turn of events raised concerns among investors and
Earnings
The Thursday Morning Meeting livestream with Jim Cramer provided insights into the market performance for the day. Despite the S & P 500 advancing by 0.7%, tech giant Nvidia experienced a decline in share prices after beating estimates. Analysts were particularly concerned about the company’s full-year outlook on gross margins, causing a 3.5% drop in
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
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,
Salesforce, a business software maker, experienced a surge in its shares by 4% in extended trading following the announcement of robust fiscal second-quarter results exceeding estimates. However, the news of the company’s chief financial officer, Amy Weaver, stepping down raises concerns about the future financial leadership at Salesforce. The company surpassed expectations with earnings per
Following the announcement of JD.com’s $5 billion buyback late Tuesday, the Hong Kong-listed shares of the Chinese online retailer saw a 1.2% increase on Wednesday. In contrast, the Hang Seng index experienced a decline on the same day. The U.S. listed shares of JD.com also rose by 2.24% after the announcement. Despite this positive movement,
Amazon is facing the challenge of increasing profits from its retail business, especially with the high standards set by its successful Amazon Web Services (AWS) division. According to research firm MoffettNathanson, the retail operations will need to step up as the profitability of AWS levels off in the coming years. While the analysts believe that
Last week, Wall Street experienced back-to-back weekly gains after Federal Reserve Chairman Jerome Powell gave a speech from Jackson Hole that satisfied investors. Powell hinted at potential interest rate cuts, stating that “the time has come for policy to adjust.” This news led to expectations of 1 percentage point of cuts by the end of