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…
Sandbox Announces That It Is Taking “The King of Rock” Elvis to the Metaverse
(The Sandbox) Metaverse platform Sandbox has collaborated with Elvis Presley to take him to the metaverse. The partnership will encompass Elvis Presley Enterprises and Web3 studio, Run it Wild. The…
Snowflake Crashes 15% as Outlook Clouds Robust Q1 2023 Financial Results
(Snowflake) Shares of Snowflake fell more than 15% on Thursday despite reporting a revenue of $422.4 million in the first quarter of 2023. The revenue was 85% higher than the…
Fed Earmarks 50 Basis Point Rate Increases in Its Next Meetings
(Fed) Minutes of the Federal Reserve in early May have indicated that the central bank intends to increase interest rate by 50 basis points at its “next couple of meetings.”…
Nvidia Posts a Record $8.29B Rev. In Q1 2023 but Stock Plunges on Lower Earnings
(Nvidia) Shares of Nvidia traded down more than 5% in premarket on Thursday after posting GAAP diluted earnings per share of $0.64 in the first quarter of 2023. The earnings…
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