Chinese electric vehicle maker Zeekr has made headlines with its successful initial public offering (IPO) priced at $21 a share, at the top end of its range. The company is set to sell 21 million American depository shares, raising an impressive $441 million when it begins trading on the New York Stock Exchange under the
Revenue
Arm, a British chip designer, experienced a drop of over 2% in its shares on Thursday due to disappointing revenue forecasts. Despite a strong sales quarter driven by the surging demand for artificial intelligence applications, the lackluster revenue outlook left investors underwhelmed. Arm reported a stellar fiscal fourth-quarter revenue of $928 million, representing a 47%
Warner Bros. Discovery recently shared its first-quarter results, falling short of analyst expectations both in terms of revenue and earnings. The company’s stock experienced a 3% gain following the announcement. Loss per share was reported at 40 cents, missing the 24 cents loss expected by analysts. Revenue stood at $9.96 billion, below the $10.231 billion
A recent Consumer Financial Protection Bureau (CFPB) regulation aimed at reducing late fees on credit cards is facing strong opposition from the card industry, led by the U.S. Chamber of Commerce. The industry’s lawsuit against the CFPB is set to be decided by a judge in the Northern District of Texas by Friday, potentially freezing
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Siemens Energy experienced a significant surge in its shares, rising by as much as 13% in a single day. This surge came after the German renewables firm adjusted its forecast for the year and made an announcement regarding changes in leadership within its wind turbine unit. The shift in leadership involved the replacement of Jochen
The absence of a Marvel film to kick off the summer movie season in 2024 marks a significant departure from the trend of the past decade. Marvel Cinematic Universe films have traditionally dominated the summer box office, with high-profile releases generating openings of over $100 million. However, this year, the headline film for the summer
British neobank Monzo has recently announced a significant achievement in its fundraising journey, securing an additional $190 million in funding. This brings the total amount raised by the company this year to an impressive $610 million. The latest round of funding saw participation from new investors, including Hedosophia, CapitalG, and Singaporean sovereign wealth fund GIC.
Disney has spent the past five years investing heavily in its streaming services, and it seems that investment is starting to pay off. In the second quarter, Disney nearly broke even in its streaming units, showing a significant improvement from the previous year’s loss. With Disney+, Hulu, and ESPN+ all showing promising signs of profitability,
Nintendo revealed on Tuesday its intention to unveil the successor to its popular Switch console within the current fiscal year. This decision follows a projection of a significant decline in profit due to the anticipated decrease in sales of the aging Switch console. The new gaming system is expected to be introduced by the end