Pinduoduo Earnings in Q1 2022 Beats Estimates, Stock Jumps 8%
(Pinduoduo) Pinduoduo stock rose more than 8% in premarket on Friday after reporting revenue of RMB23.8 billion or $3.753 billion in the first quarter of 2022. The revenue was 7%…
Ethereum Leads in Market Liquidations of Over $520 as Price Slides Below $1,800
(Coinglass) Ether-tracked futures lost more than $236 million in 24 hours in a market turmoil that saw over $520 million wiped out from the market. The significant decline in Ether…
Marvell Technology Jumps 5% as Revenue in Q1 2023 Increases by 74%
(Marvell) Shares of Marvell Technology rose by more than 5% in premarket on Friday after the first quarter of 2023 revenue increased by 74% year-over-year to $1.447 billion. Marvel reported…
Gap Inc. Plunges 17% as Net Sales Fall 13% in the First Quarter, Posts a Loss
(Gap) Shares of Gap Inc. fell more than 17% on Friday in premarket after booking net sales of $3.5 billion, down by 13% from the prior year. The decline in…
Costco Reports a 16.3% Increase in Net Sales in Q3 2022
(Costco) Costco reported net sales of $51.61 billion in the third quarter of 2022, an increase from $44.38 billion in the comparable quarter of 2021. For the nine months ended…
US Pending Home Sales Fall 3.9% in April as Mortgage Rates Slow Activity
(NAR) The sales of pending homes in the US fell by a monthly 3.9% in April from March, marking its sixth straight month of decline. Contract signings fell in all…
Broadcom Agrees to a $69B Deal for Software Group VMware
(Broadcom) Broadcom has confirmed it will acquire cloud software firm VMware for $69 billion, including the outstanding debt. VMware shareholders can choose to receive $142.50 cash in the deal or…
ARK Invest Revives Its Spot Bitcoin ETF With SEC After Initial Rebuff
(Twitter) Cathie Wood’s ARK Investment Management has submitted another physical Bitcoin ETF to the US Securities and Exchange Commission. The ARK 21Shares Bitcoin ETF includes a proposed rule change from…
Dollar Tree Jumps 18% as Q1 2022 Earnings Hit a Record $2.37
(Dollar Tree) Shares of Dollar Tree rose more than 18% on Thursday after reporting diluted earnings per share of $2.37 in the first quarter of 2022, up 48.1% from the…
US Growth Plummets 1.5% in the First Quarter of 2022
(BEA) The gross domestic product of the US declined by an annual rate of 1.5% in the first quarter of 2022, slightly worse than the advance estimate of a 1.4%…
Macy’s Defies Retail Woes to Almost Triple Income in Q1 2022
(Macy’s Inc.) Macy’s reported a net income of $286 million in the first quarter of 2022, an increase from $103 million in the prior year. The retailer netted sales of…
Nutanix Stock Plunges 35% After Issuing Lower Guidance on Supply Chain Troubles
(Nutanix) Shares of Nutanix Inc. crashed more than 37% on Thursday despite reporting a revenue of $403.7 million in the third quarter of 2022. The revenue was 17% higher than…
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