The recent financial report released by H&M sent shockwaves through the stock market as shares plummeted over 14% in response to lower-than-expected profits for the second quarter. Analysts had predicted an operating profit of 7.37 billion Swedish kroner, but the actual results fell short at 7.1 billion Swedish kroner. The company’s stock initially dropped 13%,
Earnings
Southwest Airlines recently announced a significant decrease in its second-quarter revenue forecast, which resulted in a 4% drop in the company’s shares during premarket trading. The airline cited changing booking patterns as the main reason for this adjustment. Initially, Southwest expected a 1.5% to 3.5% decline in revenue per available seat mile for the second
The casual dining industry has been witnessing a shift in customer preferences, with more people turning away from higher-priced fast-food options. According to Darden Restaurants CEO Rick Cardenas, casual dining chains are attracting customers who are growing increasingly frustrated with the rising prices of fast-food meals. While Darden itself has not seen direct benefits from
Adobe experienced a significant surge in shares by 15% on Friday, marking its largest gain since March 2020. This increase came following the release of their earnings report, which surpassed analysts’ estimates in both earnings and revenue. The company reported an adjusted earnings per share of $4.48, exceeding the LSEG consensus estimate of $4.39 per
On Thursday, U.S. stocks experienced a mixed trading session with the S & P 500 edging lower while still near record highs. This was in response to May’s producer price index data, indicating a possible easing of inflation pressures. Additionally, weekly jobless claims came in higher than expected, suggesting a mild loosening in the labor
Broadcom recently released their earnings report for the second fiscal quarter, showcasing a performance that surpassed analysts’ estimates. The company reported earnings per share of $10.96 adjusted against an expected $10.84, along with revenue of $12.49 billion compared to an anticipated $12.03 billion. This exceptional performance sent the stock soaring by approximately 10% in extended
Larry Ellison, the Chairman of Oracle, has seen a substantial increase in his net worth, totaling nearly $19 billion. This surge in wealth comes after Oracle announced double-digit revenue growth for the fiscal year, resulting in the stock experiencing its largest rally since 2021. Ellison, who founded Oracle in 1977, holds approximately 1.15 billion shares
Oracle shares surged by 9% in after-hours trading following the announcement of cloud partnerships with Google and OpenAI. However, the software maker fell short of Wall Street expectations for the fourth quarter. The earnings per share came in at $1.63 adjusted, missing the expected $1.65. Revenue also fell below expectations at $14.29 billion, compared to
In the latest fiscal first-quarter results, GameStop reported a significant decline in net sales, dropping by 29% from the previous year. The company’s net sales were recorded at $881.8 million, missing the estimates provided by Wall Street analysts. The sales decline was even steeper than anticipated, causing concerns about GameStop’s ability to turn its operations
Lululemon, a well-known athletic apparel retailer, recently reported flat comparable sales in the Americas, its largest market. Despite beating Wall Street’s earnings estimates, the company only narrowly topped revenue expectations. In its first fiscal quarter, Lululemon reported earnings per share of $2.54, surpassing the expected $2.38, and revenue of $2.21 billion, slightly above the anticipated