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Tag Archives: Wall Street

Nvidia Set to Join Apple, Microsoft, Amazon in the Trillion-Dollar Market Cap Group

Due to a favorable forecast and AI adoption, Nvidia has seen explosive growth and could soon hit the trillion-dollar market cap. Nvidia Corporation (NASDAQ: NVDA) is fast approaching the trillion-dollar market cap due to its explosive stock surge. On Thursday, the chip maker’s shares jumped 26% following a robust earnings outlook and increased production scale. Nvidia’s market valuation sits at $950 billion, which is almost $200 million higher than it was at Wednesday’s close. The Santa...

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Foot Locker Posts Q1 2023 Results, Sees Stock Sink 25% on Sales Drop

Sportswear and footwear retail company Foot Locker took a beating in its Q1 2023 report after sustaining an 11% drawdown in revenue.  Foot Locker Retail Inc (NYSE: FL) plunged 25% following a big earnings miss in the Q1 2023 outing. For the first quarter of 2023, the sportswear and footwear retailer reported revenue of $1.93 billion versus the $1.99 billion analysts expected. In addition, the company realized earnings per share of 70 cents adjusted versus 81 cents expected. Following...

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Walmart Q1 2023 Results Sees Retail Giant Beat Expectations on Earnings & Revenue despite Prudent Consumer Spending

Walmart “leveraged expenses and expanded operating margin” in Q1 2023 and now expects a 3.5% increase in consolidated net sales for the year.  Walmart Inc (NYSE: WMT) has raised its 2023 full-year guidance following its stellar Q1 earnings report. On Thursday, the multinational retail corporation reported better-than-expected revenue, which was boosted by grocery and online businesses. For the first quarter of the year, Walmart posted revenue of $152.30 billion compared to the $148.76...

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Tesla Shares Print Mild Gains as Elon Musk Is Set to Step Down as Twitter CEO

The biggest beneficiary of this move in the long term will be Tesla shareholders, considering the firm is the only publicly listed entity tied to Elon Musk The shares of American multinational technology company Tesla Inc (NASDAQ: TSLA) are seeing an impressive uptick as investors appear elated that the company’s Chief Executive Officer, Elon Musk is setting his priorities right. As reported earlier by Coinspeaker, the iconic entrepreneur and founder said he is stepping down from his...

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PacWest (PACW) Shares Plunge 23% after Revealing 9.5% Decline in Deposits

There are various choices accessible to PacWest Bancorp that could assist the business overcome the present shares devaluation. PacWest Bancorp (NASDAQ: PACW), a regional bank based in California, is seeing its shares plummet by 23%, days after reporting a 9.5% drop in deposits for the week ending May 4, 2023. Notably, the decline in deposits was attributed to media reports that the regional bank was considering several strategic options in the wake of the current banking chaos in the US....

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PayPal Q1 2023 Earnings Beats Analysts’ Expectations by 1%

PayPal has been forced to update its 2023 earnings outlook due to its latest financial reports. Multinational digital payment company PayPal (NASDAQ: PYPL) has released the financial report of its earnings in the first quarter of 2023. PayPal benefited from the outbreak of the novel coronavirus in 2020 as more people switched to online transactions. The company’s revenue ascended from $17.8 billion in 2019 to over $25 billion in 2021. Its shares also increased significantly during the...

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DISH Q1 2023 Results Sees Company Miss Estimates on Earnings & Revenue

Satellite TV provider DISH fell short of EPS and revenue expectations for Q1 2023 amid its sustained stock devaluation troubles.  DISH Network Corporation (NASDAQ: DISH) has published Q1 2023 numbers that missed earnings per share (EPS) and revenue estimates. The satellite television and telecommunications company’s reported EPS for the first quarter was $0.35 compared to the consensus estimate of $0.36. Also, DISH’s revenue came in at $3.96 billion versus the $4.06 billion analysts...

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Warner Bros. Discovery Q1 2023 Results Sees Media Giant Realize Streaming Profit despite Sustaining Overall Loss

Due to its commendable Q1 2023 streaming numbers, Warner Bros. Discovery expects its streaming business to stay profitable this year.  On Friday, May 5, Warner Bros Discovery (NASDAQ: WBD) reported its Q1 2023 earnings before the bell that came in mixed. For instance, the media and entertainment giant reported a significant overall loss despite raking in profit from its streaming endeavors. Warner Bros. Discovery lost $930 million in quarterly free cash flow even though its...

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US Treasury Yield Spikes as Investors Fear Recurring Banking Crisis

Amid the broader banking crisis, investors are still concerned about the next move of the government in terms of Federal Reserve policy. United States Treasury yields spiked earlier today after fluctuations experienced on Thursday. The yield on the 10-year Treasury went up by almost 5 basis points or 3.407% while that of the 2-year Treasury jumped by 9 basis points or 3.823%. The percentage surge covered up some of the losses encountered in the previous trading day. The Treasury yield...

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PacWest Bancorp Mulls Sale of Entire Holding Company amid 80% Stock Drawdown since March

Los Angeles-based PacWest is considering several strategic options, including a sale, amid a banking crisis-induced stock plunge. Bank holding company PacWest Bancorp is reportedly mulling a sale following Wednesday’s 50% stock crash. The regional bank is weighing strategic options amid the US banking crisis, which sank three financial institutions in March. A Bloomberg report said PacWest shelved previous efforts to raise capital to remain afloat and now strongly considers selling all...

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