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,
Earnings
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
Cava Group, a fast-casual restaurant brand, experienced a significant 6% increase in its share price during after-hours trading. The boost came in response to the company’s earnings report, which surpassed expectations. With a profit of 17 cents per share, Cava outperformed the LSEG estimate by 4 cents. Additionally, the revenue generated by the company exceeded
The recent financial performance of Danish biotech company Bavarian Nordic has exceeded expectations, leading to a significant boost in its share price. The company reported second quarter revenues of 1.43 billion Danish krone ($213 million) and an operating profit of 420 million krone, surpassing the forecasts provided by analysts. This impressive showing resulted in a
Lowe’s recent announcement of cutting its full-year forecast due to a decline in quarterly sales is a concerning development. The retailer revised its total sales projection from $84 billion to $85 billion down to between $82.7 billion and $83.2 billion. Furthermore, the company anticipates a fall in comparable sales by 3.5% to 4%, compared to