STOCK ANALYSIS
WEEKLY FORECAST
FINANCIAL NEWS
Walmart tumbles on surprise profit warning and new cut to guidance

In a surprise business update on Monday, Walmart revealed guidance for adjusted earnings per share to fall between 8% and 9% for the second quarter and around 11% and 13% for the full year, sending shares down 9% in U.S. premarket trading.

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.

Walmart backs EV startup Canoo with agreement for electric delivery vans

On Tuesday, Electric vehicle startup Canoo Inc. signed a definitive agreement with Walmart to buy at least 4,500 of its upcoming electric delivery vans, a significant win for the embattled vehicle maker.

Activist Investor Elliott Management acquires 9% stake in Pinterest, stock soars

The Wall Street Journal reported Thursday that Elliott Management Corp., known for its activist investments, has taken a major stake in Pinterest Inc., citing people familiar with the matter.

Walt Disney raises prices on ESPN+ streaming in fight to profitability

The entertainment company, Walt Disney, said it is significantly raising the price for its ESPN+ service next month, an increase of 43% from $6.99 per month to $9.99.

Peloton to stop making bikes itself and instead outsource all manufacturing

On Tuesday, Peloton Interactive said it plans to exit all of its in-house manufacturing of its bikes and treadmills and move production to partners as it works to simplify operations and reduce costs.

Twitter pursues legal action against Musk as he seeks to abandon takeover deal

On Friday, the world's wealthiest man Elon Musk, submitted a filing to terminate its $44 billion takeover deal of Twitter Inc., citing continued disagreements over the number of spam accounts on the platform.

Rivian finally announces second-quarter production figures, shares climb

After much-awaited vehicle production and delivery figures, Rivian Automotive said Wednesday it manufactured 4,401 electric vehicles at its Illinois plant in the second quarter.

Netflix ramps search for ad-support executive ahead of earnings

According to a report by Wall Street Journal, the video streaming giant, Netflix Inc., is interviewing candidates to lead its upcoming ad-supported tier of services.

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.

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