Gap shares were abruptly halted on Thursday morning due to the early release of their quarterly earnings results. This unexpected turn of events left investors and analysts puzzled as they awaited the official announcement scheduled for later that day. The apparel retailer’s second-quarter earnings report was eagerly anticipated, but the premature disclosure created a stir
Show
China’s housing market continues to face challenges despite various government support measures. According to JPMorgan economist Haibin Zhu, the sector is still experiencing a downturn and home prices are not expected to stabilize until at least 2025. The latest data shows that the average price for new home sales in 100 Chinese cities has only
The British fund manager abdrn has expressed concerns about the U.S. economic outlook, predicting a potential soft landing but warning of the risk of a prolonged slowdown in 2025. This warning comes from Kenneth Akintewe, the company’s head of Asian sovereign debt, who questioned whether the Federal Reserve (Fed) is already making a policy mistake
Despite Nvidia’s post-earnings decline, the S & P 500 managed to advance by 0.7% on Thursday. The AI chipmaker’s shares tumbled by 3.5% after surpassing estimates on both revenue and profit. However, the company fell short of analysts’ expectations for its full-year outlook on gross margins. Jim Cramer referred to this as a setback for
China has taken a significant step in the gaming industry with its first top-tier video game, Black Myth: Wukong. This action-packed game set in mythological China has captured the attention of gamers worldwide and has broken several world records. In just three days after its launch on Aug. 20, Black Myth: Wukong sold over 10
MongoDB experienced a significant surge in its shares, rising by a remarkable 16% in after-hours trading following the announcement of its healthy fiscal second-quarter earnings. The company exceeded expectations with earnings per share coming in at 70 cents adjusted, compared to the anticipated 49 cents. In terms of revenue, MongoDB reported $478.1 million, surpassing the
American Eagle, a popular apparel company, faced challenges recently as it missed Wall Street’s sales targets for the second quarter in a row. The company’s revenue of $1.29 billion fell short of the expected $1.31 billion, leading to a decline in its shares by roughly 3% in early trading. Despite this setback, American Eagle’s profit
As the tech earnings parade rolls along, investors are closely watching Marvell Technology. The stock surged by about 8% after hours following the company’s report of better-than-expected revenue in the latest quarter. Despite this positive news, Marvell is still down by 18% from its March high. This increase in stock value also reflects positively on
As the season of fall foliage and pumpkin spice lattes rolls around, there is also a potential shift in the job market. Some experts suggest a “September surge,” where more job postings become available after Labor Day due to the end of a summer slowdown. Career coaches have noted that during the summer months, there
In recent months, the real estate market has seen a surge in home prices, reaching the highest level ever on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. Despite the rising mortgage interest rates, prices nationally were reported to be 5.4% higher than they were in June 2023. However, this annual gain was slightly