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FINANCIAL NEWS
Peloton in a race to save itself after weak quarterly results

In a race to save itself, Peloton Interactive Inc. is eschewing some fundamental aspects of its decade-old business model after posting a $1.2 billion loss in the most recent quarter.

Walmart jumps on strong quarterly results, creates investor optimism

Shares of the big-box retailer Walmart were up over 5% on Tuesday after the company announced better-than-expected results for the fiscal second quarter of 2023

Coinbase loses market share amid investors' crypto winter fears

Crypto giant Coinbase's market share fell from highs of 10.7% in January to 6.3% in July, a sign that the largest US cryptocurrency exchange is losing ground.

Disney reports earnings surge and announces latest media-streaming move

Walt Disney on Wednesday reported its fiscal third-quarter earnings that beat expectations on the top and bottom lines and added more subscribers than projected to its flagship streaming video platform Disney+.

Beyond Meat reduces full-year forecast, cuts jobs amid slowing growth

The maker of plant-based burgers, Beyond Meat, cut its revenue forecast for the full year, saying that US consumers are responding to higher prices in grocery aisles by shifting from plant-based meat alternatives to cheaper animal protein products.

PayPal shares surge on strong quarterly results and confirmed Elliott stake

Shares of financial technology giant PayPal Holdings Inc. surged more than 12% in premarket trading Wendsday after the company announced better-than-expected second-quarter results and said it made significant progress in terms of capital efficiency.

eBay's luxury goods drives earnings beat, lowers full-year guidance

eBay Inc. reported second-quarter revenue that beat expectations and an upbeat profit outlook, evidence that a new focus on luxury items and collectibles is helping offset slowing sales and customer traffic.

Activision Blizzard beats revenue expectations despite weaker sales

On Monday, Call of Duty maker Activision Blizzard announced second quarter 2022 results that beat analysts' expectations on revenue but fell short on the bottom line as the industry contends with a slowdown from its pandemic-era highs.

Amazon stock surge over 12% on strong AWS sales and guidance

After a three-day bombardment of earnings reports from mega-cap tech companies last week, Amazon was the big winner, posting better-than-expected results that spurred a sharp rise in the stock on Friday.

Apple sees no slowdown in demand for iPhones despite grim economy

On Thursday, investors were encouraged by Apple's quarterly results that were "just good enough" to ease concerns about a strong dollar, inflation, chip shortages, and COVID-19 precautions in China.

Microsoft shares climb on double digit growth guidance

Driven by demand for cloud computing services, Microsoft Corp. on Tuesday forecasted revenue this fiscal year would grow by double digits in sales and operating income in fiscal 2023.

Verizon stock plunge amid weak subscriber growth and guidance

Last week, shares of Verizon Communications Inc. (NYSE:VZ) plunged to their biggest drop in 14 years after the company said cash-strapped customers and stiffer competition would pressure its business through the end of the year.

IBM posts impressive quarterly results driven by solid demand

On Monday, International Business Machines, better known as IBM, reported better-than-expected quarterly revenues, rising 9% year-over-year to $15.5 billion on strong demand for the company's AI and hybrid cloud products.

Snapchat posts weak quarterly results citing digital ad-spending slowdown

Snap Inc. painted a grim picture of a weakening economy Thursday after the company posted poor quarterly results and warned of an uncertain outlook which caused concern that rising inflation and other economic woes could cause brands to slash their marketing budgets.

Netflix vows a rebound, raises new hopes of subscriber growth

On Tuesday, Netflix, whose stock has had a rough 2022, said it had lost fewer subscribers in the second quarter than previously anticipated, sending shares up 8% in after-hours trading.

Tesla beats earnings estimates on strong revenue growth, sells most of Bitcoin

Electric-vehicle leader Tesla on Wednesday reported quarterly earnings after the bell that beat analysts' expectations again. Despite facing several challenges, including limited production and shutdowns in Shanghai for the majority of the second quarter, Tesla reported revenues of $16.93 billion.

General Motors guides lower, warns of continued supply disruptions

On Friday, General Motors offered lackluster guidance for its second quarter as continued supply chain disruptions impact its wholesale volumes.

Micron shares lower as guidance disappoints, weaker consumer demand

Shares of the leading supplier of memory and storage chips, Micron, fell 5.8% in Friday trading after the company reported better-than-expected fiscal third-quarter results, but guidance missed analyst views.

Nike announces Russian exit prior to earnings results

Heading into this week's markets, athletic footwear and apparel maker Nike Inc. will release its fourth-quarter earnings results on Monday after the market close.

Adobe Q2 revenue beats expectations, but guidance was disappointing

In late trading Thursday, Adobe stock lost ground after the provider of software for creativity provided softer-than-expected guidance for both its current quarter and full fiscal year.

Nio falls on outlook, but Valuation upside remains attractive

Last week, Chinese electric vehicle maker Nio reported disappointing first-quarter results, having lost $281.2 million, broader than the $68.8 million it lost a year ago.

GameStop reports a mixed bag of earnings results, shifts to NFTs

On Wednesday, GameStop reported mixed first-quarter results as the video game retailer pivots toward a more online-focused model and shifts to cryptocurrencies and nonfungible tokens.

Salesforce raises profit forecast, climbs 9% on solid perfomance

On Tuesday, shares of the cloud-based customer relationship management company, Salesforce, jumped around 9% in extended trading after posting a better-than-expected increase in fiscal first-quarter revenue.

Costco delivers earnings beat; not raising any fees despite inflation

Last week, Costco Wholesale reported fiscal 2022 third-quarter earnings that beat earnings per share and revenue expectations, bolstered by a record-breaking membership renewal rate.

Nvidia posts record sales in data center and gaming

Graphics-chip maker Nvidia Corp. gave a muted sales outlook Wednesday as it posted record sales in Data Center and Gaming for the most recent quarter.

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