Sales of New Homes in the US Decline by a Monthly 16.6% In April
(Census Bureau) The total sales of new single-family houses in the US were at an annual rate of 591,000 in April, declining from 709,000 in March. Following the decline, the…
US Private Sector Output Hits the Weakest in 4-Months in May
(S&P Global) The Composite Output Index gauging the private sector activity in the US was at 53.8 in May, marking the weakest expansion in four months. The index was April’s…
Luckin Coffee Reports 89.5% Jump in Q1 2022 Revenues
(Luckin Coffee) Luckin Coffee netted revenues of RMB2.405 billion or $379.3 million in the first quarter of 2022, an increase of 89.5% from the prior year. The company said that…
Abercrombie & Fitch Co. Plunges 27% as Guidance Disappoints
(Abercrombie & Fitch Co.) ANF dropped more than 27% on Tuesday despite reporting net sales of $813 million in the first quarter of 2021. The sales were up 4% from…
Best Buy Earnings Beats Estimates but Cuts FY23 Guidance
(Best Buy) Best Buy announced adjusted earnings per share of $1.57 in the first quarter of 2023, surpassing estimates of $1.56 per share. The earnings were below $2.23 in the…
Eurozone’s Growth Remains above Average Despite Easing from April
(S&P Global) Eurozone’s Composite Output Index was recorded at 54.9 in May, down from 55.8 in April. The index marked a two-month low, but took growth to a fifteenth straight…
Snap Crashes 28% After CEO Warns It May Miss Revenue and Earnings Estimates
(SEC) Snap shares declined more than 28% in premarket on Tuesday after CEO Evan Spiegel warned it might report revenue and adjusted EBITDA below the low end of previous guidance.…
Coinbase Nets “Thousands of Tokens’ After Integrating BNB Chain and Avalanche
(Coinbase) Coinbase has announced that its wallet’s list now supports BNB Chain and Avalanche, bringing the number of the total supported wallets to four. Coinbase says that the expanded support…
Zoom Stock Jumps After Raised Guidance Following Earnings Beat in Q1 2022
(Zoom) Shares of Zoom Video Communications rose more than 6% in premarket on Tuesday after its first-quarter earnings came at $1.033 per share. Despite being lower than $1.32 per share…
XPeng Stock Crashes 7% as Q2 2022 Revenue Guidance Disappoints
(Xpeng) Shares of XPeng fell more than 7% on Monday after second-quarter revenue guidance of RMB6.8 billion to RMB7.5 billion missed estimates of RMB8.14 billion. Xpeng’s stock was also weighed…
Didi Global Shareholders Approve NYSE Delisting
(Didi) Didi Global Inc. says it will proceed with the company's plan to exit the New York Stock Exchange after 96% of shareholders favored the move in a vote. Didi…
BofA Announces $22 Per Hour Minimum Wage, Targets Hourly $25 Pay in 3 Years
(Bank of America) Bank of America has increased its minimum pay per hour to $22 from $21, effective at the end of June. The bank says the latest increment sets…
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