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FINANCIAL NEWS
Under Armour announces unexpected departure of CEO

Early this week, athletic apparel maker Under Armour announced the imminent and unexpected departure of its chief executive officer, Patrik Frisk.

Cisco spooks investors on bleak outlook; shares plunge

Cisco Systems Inc. spooked investors Wednesday after generating lower quarterly revenue than analysts expected, sending shares down by as much as 17% in extended trading.

Walmart falls sharply; poised to survive inflationary pressures

On Tuesday, Walmart cut its full-year profit forecast that missed Wall Street's expectations by a wide margin, sending shares tumbling 11.38%, the worst beat in nearly 35 years.

Carvana rises on profitability, on track for recovery

Shares of Carvana Co. were trading nearly 15% higher Monday after the company provided a ray of sunshine on how it intends to cut costs and generate free cash flow (FCF) following several dismal quarters.

McDonald's to exit Russia after 30 years, seeks buyer for stores

After serving the country for more than three decades, McDonald's Inc. has officially started a process to pull out of Russia, selling all its restaurants to a local buyer, the company said Monday.

5 Things to watch in this week's markets

Friday's end-of-week bounce in equity markets came following hopes that markets are near the bottom after a brutal slide. However, the tumble might not be over. Here's what to watch as we head into this week's markets:

Rivian maintains production forecast as supply chain challenges continue

On Wednesday, electric vehicle maker Rivian reported first-quarter revenues below Wall Street expectations and maintained its production forecast of 25,000 units for 2022.

Affirm soars 21% on profit beat, more room for growth?

Affirm Holdings Inc., the technology-driven payments network, reported better-than-expected revenue growth of 53.8% year-over-year to $354.8 million, topping estimates of $344.03 million.

AMC ticket sales soar as moviegoers return to theaters

(AMC) Entertainment Holdings Inc., the world's largest movie theatre chain, reported first-quarter sales more than five times higher than the year-ago period, which beat analysts' estimates as moviegoers return to theaters.

Uber warns of hiring slow down; shifts focus on profitability

According to a CNBC report Monday, Uber Technologies will scale back hiring and reduce expenditure on its marketing and incentive activities. The ride-hailing company becomes the latest to rein over a hiring slow down.

5 Things to watch in this week's markets

On Friday, the broader U.S. stock market averages fell across the board, while equity markets were roiled following the Federal Reserve's delivery of a widely expected half percentage point rate hike. With more market uncertainty in store, here's what you need to know to start your week.

Stocks rally after Powell vows to curb inflation with Fed hikes

On Wednesday, Federal Reserve Chair Jerome Powell assured Americans that policymakers would do their best to curb surging inflation following the Fed's decision to hike interest rates by 50 basis points for the first time in 22 years.

5 Things to watch in this week's market

This week's earnings will continue to roll in following the worst month for stocks in over two years. Moreover, Friday's U.S. employment report forecasts robust jobs growth in April, another key part of the Fed’s mandate.

Amazon stocks plunge amid slow sales growth; warehousing demand cools

Amazon stock plunged Friday after reporting its first quarterly loss since Jeff Bezos stepped down as its CEO and its slowest sales growth since 2001.

Apple reports solid growth for non-holiday period, warns of supply chain woes

In the quarter that ended in March, Apple's revenue grew nearly 9% year-over-year to $97.3 billion, which is considered a record figure for this part of the calendar year.

Qualcomm reports robust outlook and record-breaking revenue amid diversification

Qualcomm reported a robust earnings outlook and record quarterly revenue for the last quarter, mainly due to its move to focus on growing a non-handset business amid the likelihood of slowing smartphone demand.

Meta gains on unexpected user growth, fuels gains in Nasdaq 100 futures

In premarket trading Thursday, Meta Platforms gained 17.5% to $205.60 after reporting better-than-expected user growth in the first quarter for its social media platform, Facebook.

Microsoft shares rise amid strong profit outlook; driven by cloud-service demand

On Tuesday, shares of Microsoft Corp rose 6% in after-hours trading after the company posted better-than-expected revenue and a strong profit outlook on sales for the current quarter.

5 Things to watch in this week's markets

With earnings season in full swing, a deluge of tech titans scheduled to post quarterly results, will keep investors' ears to the ground this upcoming week.

Netflix grapples with stiffer competition, loses 200,000 subscribers

As the streaming giant grapples with stiffer competition from rival services and rampant account sharing among its customers, Netflix Inc. lost 200,000 subscribers globally, the first decline in over ten years.

Charles Schwab shares drop amid disappointing quarterly results

Shares of multinational savings and loan holdings company Charles Schwab dropped 9.5% on 18 April to close at $74.94 after the firm reported a decline in quarterly revenue and missed Wall Street estimates.

Peloton lowers prices for bikes and treadmills, stock falls

Last week, Peloton told subscribers that it would lower equipment prices in all markets and add content, disciplines, music, instructors, and new features across its products.

Apple poised for another stock buyback, Citi analyst sees potential

According to Citi analyst Jim Suva, Apple could announce an incremental stock buyback of $80 billion to $90 billion this month and likely raise its dividend by 5-10%.

Costco is on the rise amid strong March sales

Last week, Costo Wholesale Corp. enjoyed stellar results after the company reported revenues of $21.61 billion for March, representing an 18.7% increase year-over-year.

Walmart increases trucker pay, expands training program

To keep its supply chain running smoothly, a spokesperson for Walmart Inc. said the American retailer is increasing in-house truck drivers' starting pay to as much as $110,000 per annum.

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