Express Stock Soars as Q1 2022 Revenue Rises 30%, Upgrades Guidance
(Express) Express Inc. shares rose more than 10% in premarket on Wednesday after reporting net sales of $450.8 million, up 30% from the prior year. The company said that its…
Mortgage Demand Submerges Further Despite Rates Easing to 5.46%
(MBA) Applications for home loan refinancing fell by 2% last week to remain 75% below the prior year, despite mortgage rates showing signs of slowing down. Homebuyers pulled back, with…
Photronics Q2 2022 Net Income Almost Triples From Last Year, Stock Jumps
(Photronics) Shares of Photronics, Inc. rose more than 10% on Tuesday premarket after it reported a net income of $29.8 million or $0.49 per share in the second quarter of…
Wendy Rises 12% After Agreeing to Review an Offer by Largest Shareholder Trian
(Wendy) Shares of Wendy Company rose more than 12% in premarket on Wednesday after the company said it will review any proposal submitted by its largest shareholder Trian. Trian Fund…
Nordstrom Jumps 9% as Q1 2022 Sales Increase 18.7%, Updates Guidance
(Nordstrom) Shares of Nordstrom Inc. rose more than 9% in premarket on Wednesday after reporting total revenues of $3.569 billion in the first quarter of 2022. The revenues were higher…
Stripe App Marketplace to Allow Instant Fiat-to-Bitcoin Conversions Via OpenNode
(OpenNode) Stripe has partnered with BTC payments infrastructure firm OpenNode to allow its merchant customers to convert all or a portion of their incoming payments to Bitcoin. The anticipated OpenNode…
ECB Survey Finds 10% of Households Own Crypto, Flags Risks of Institutional Entry
(ECB) Around 10% of households in the eurozone have bought crypto assets, according to a survey by the European Central Bank. The ECB research established that retail investors represented the…
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…
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