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FINANCIAL NEWS
GameStop braces for job cuts while shares surge after stock split

In a bid to turn around a business struggling to shift gaming demands and market uncertainty, GameStop announced its finance chief is leaving the company amid plans for corporate job cuts.

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.

FedEx's new CEO outlines bold profit growth; pressure to deliver is on

This week, shipping giant FedEx Corp. told investors it would boost sales and profit by targeting "high-value" customers and improving efficiency.

Morgan Stanley and other U.S. banks raises dividend payouts

On Monday, one of America's largest banks, Morgan Stanley, said it would increase its quarterly dividend payouts on its common stock to 77.5 cents a share, up 11% from last year's payout of 70 cents.

Pfizer signs new deal with U.S. govenment; analysts weigh in on FDA ruling

As the first company to introduce a COVID-19 vaccine, the pharmaceutical behemoth Pfizer in partnership with BioNTech, said Wednesday they had signed a $3.2 billion deal with the U.S. government for 105 million doses of their vaccine.

Pinterest share climb as CEO steps down, Google exec takes over

Shares of Pinterest Inc. climbed more than 5% in late trading Tuesday after the social media company said its longtime CEO and co-founder Ben Silbermann is stepping down from his role effective Wednesday.

Shopify shares pop as it teams up with Twitter

Earlier this week, Twitter announced that Shopify's merchant customers would be able to connect their Twitter accounts to their Shopify accounts.

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.

Coinbase to lay off 18% of workers after plunging on looming crypto winter

On Tuesday, Coinbase Global Inc. added to a further wave of reckoning through the cryptocurrency industry after the company said it would cut almost a fifth of its staff.

Coca-Cola is mixing it up with Jack as the broader market tumbles

While the S&P 500 Index sank into a bear market on Monday, with investors fearing that the Fed will need to hike interest rates more aggressively to fight inflation, Coca-Cola was the last one standing with what seems to be a knockout punch.

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.

Intel gives discouraging update on macro environment, freezes hiring

Intel is joining other companies in reassessing priorities amid global economic uncertainty as it adjusts near-term spending plans.

Nelson Peltz moves to Unilever to give it a P&G revamp

On Tuesday, Unilever PLC announced it would add Nelson Peltz to its board. following the news, shares of the consumer staple giant rose 10%.

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.

5 Things to watch in this week's markets

Investors will be looking ahead to Eurozone inflation data, the ease of Covid restrictions in China, and Friday's non-farm payrolls as the turbulent month in equity markets are drawing to a close.

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.

Alibaba surge in Hong Kong after strong earnings beat

On Friday, Alibaba Group Holding Ltd shares soared in Hong Kong, extending the positive momentum from U.S. trading overnight as investors welcomed the company's better-than-expected earnings.

Dell's earnings crush estimates on strong PC and enterprise demand

In premarket trading Friday, shares of Dell Technologies Inc. rose 12% after the company reported higher first-quarter sales and lower operating expenses.

Shares of Nordstrom climb on full year outlook and strong first-quarter sales

On Tuesday, Nordstrom raised its forecast for earnings and revenue for the coming year ahead of analysts' expectations, sending shares up nearly 10% in premarket trading Wednesday.

Lyft acts responsibly; joins rivals in slowing down hiring

In an attempt to make up for its eroding share price, ride-hailing firm Lyft Inc. said on Tuesday that it would slow down hiring, reduce the budgets of some of its departments, and grant new stock options to some employees.

Snap falls sharply after profit warning, drags rivals with it

Shares of the social media company Snap Inc. plunged as much as 30% in extended trading Monday after warning that it may miss its second-quarter guidance and cut its revenue and profit forecasts below the low end of previous expectations.

Airbnb quits business in China amid competition and lockdowns

On Tuesday, Vacation rental firm Airbnb Inc. decided to vacate its Chinese operations amid stiff competition and strict lowdowns, joining a long list of Western internet platforms that have opted out of the China market.

Home Depot raises profit outlook on steady demand, shares climb

Atlanta-based home improvement retailer Home Depot reported first-quarter earnings that topped expectations and raised its full-year profit forecast.

5 Things to watch in this week's markets

Disappointing results from major retailers last week rattled markets already hit by uncertainty over inflation, rising interest rates, geopolitical uncertainty and the prospect of recession. Here's what's ahead of this week's markets:

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