Alibaba, the Chinese e-commerce giant, recently reported its financial results for the June quarter of 2024. Unfortunately, the numbers were disappointing as the company missed both revenue and net income expectations. Revenue came in at 243.24 billion Chinese yuan, falling short of the expected 249.05 billion yuan, while net income was 24.27 billion yuan, below
Earnings
Norway’s Government Pension Fund Global recently announced a remarkable first-half profit of 1.48 trillion kroner ($138 billion). This profit was primarily attributed to the fund’s successful investments in technology stocks, showcasing a robust return. With a total value of 17.75 trillion kroner at the end of June, the fund undoubtedly holds a significant position in
UBS CEO Sergio Ermotti recently expressed his concerns about potential increased market volatility in the second half of the year. While he does not foresee a recession in the United States, he believes that a slowdown is a real possibility. This comes in the wake of sharp sell-offs in global equities last week, triggered by
Home Depot recently exceeded quarterly expectations, but projected weaker sales for the remainder of the year due to various factors affecting consumer demand. The home improvement giant anticipates a 3% to 4% decline in full-year comparable sales, a significant shift from the previously expected 1% decrease. Chief Financial Officer Richard McPhail highlighted the impact of
HelloFresh, a German meal kit firm, experienced a significant surge in its stock value following a positive second-quarter earnings report. The company showcased better-than-expected profits and highlighted rapid growth in its ready-to-eat meals segment. This news propelled HelloFresh shares to climb as much as 20% during morning trade. HelloFresh reported adjusted earnings before interest, tax,
The CNBC Investing Club, led by Jim Cramer, holds a daily livestream called “Morning Meeting” at 10:20 a.m. ET where they discuss key moments and strategies for investors. On Monday, U.S. stocks showed mixed performance as investors awaited major inflation data scheduled to be released later in the week. The S & P 500 and
Under Armour recently announced its fiscal first quarter results, which exceeded Wall Street’s expectations. Despite a decline in sales, the athletic apparel retailer posted better-than-feared earnings per share and revenue figures. The company reported earnings of 1 cent per share, adjusted, compared to the 8 cents per share loss that was expected. Additionally, Under Armour’s
Restaurant Brands International has announced their quarterly revenue results, which have surpassed analysts’ expectations. The company reported strong sales at Tim Hortons and its international restaurants, leading to a 17% increase in net sales. CEO Josh Kobza expressed satisfaction with the performance, stating that they have outperformed key competitors in major markets. The company’s second-quarter