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Business, Stocks

“Salesforce shares tumble 20%, on pace for worst day since 2004”

“Shares of Salesforce tumbled 20% Thursday morning, putting the stock on pace for its worst day in nearly 20 years. Its worst trading day on record is July 4, 2004, when shares fell 27% just days after the company went public. The… Continue Reading…

Stocks

“Haidilao restaurant operator Super Hi’s shares surge 38% in strong US market debut”

“Super Hi International jumped 38% in its debut on Nasdaq, giving the operator of Chinese hotpot restaurant chain Haidilao a valuation of about $1.74 billion. Shares opened at $27 per share compared with the initial public offering (IPO) price of… Continue Reading…

Stocks

“An elite hedge fund bought 1 million GameStop shares before the meme stock’s 400% surge”

“…Renaissance Technologies owned 1 million shares of the video-game retailer at the end of March, a position worth $13 million at the time, its first-quarter portfolio update shows. GameStop stock was up more than 400% at its Tuesday high, briefly valuing RenTech’s… Continue Reading…

Stocks

“Alibaba shares fall 6% after the Chinese tech giant posts 86% drop in profit”

“…Net income attributable to ordinary shareholders came in at 3.3 billion yuan, down 86% year on year. Shares of Alibaba closed down 6% in the U.S. after falling as much as 8.1% in the first hour of trading…” https://www.cnbc.com/2024/05/14/alibaba-baba-earnings-q4-2024.html The… Continue Reading…

Business, Stocks

“Novavax shares nearly double on Sanofi deal to commercialize Covid vaccine, develop combination shots”

“Novavax on Friday said it has signed a multibillion-dollar deal with French drugmaker Sanofi to co-commercialize the company’s Covid vaccine starting next year and develop combination shots targeting the coronavirus and the flu, among other efforts. Shares of Novavax closed nearly 100% higher on Friday from… Continue Reading…

Stocks

“Roblox shares drop 22% as company cuts annual bookings forecast on muted player spending”

“…Roblox now expects full-year bookings to be between $4 billion and $4.10 billion, down from its earlier forecast of $4.14 billion to $4.28 billion. Its second-quarter bookings forecast of $870 million to $900 million was also below estimates…” https://www.cnbc.com/2024/05/09/roblox-shares-drop-nearly-30percent-as-company-cuts-annual-bookings-forecast-on-muted-player-spending.html

Stocks

“Shopify shares plunge 18% on weak guidance”

“…Here’s how the company did for the first quarter, compared with consensus expectations from LSEG: The better-than-expected first-quarter results were overshadowed by Shopify’s outlook for the current quarter. The Canadian e-commerce company said it expects second-quarter revenue to grow at… Continue Reading…

Stocks

“Reddit shares soar 11% after company reports revenue pop in debut earnings report”

“…Here’s how the company did: Revenue climbed 48% from $163.7 million a year earlier. The company reported $222.7 million in ad revenue for the period, up 39% year over year, which is a faster rate of growth than at its… Continue Reading…

Business

“Tesla’s China-made EV sales fall 18% in April; shares slip”

“U.S. automaker Tesla sold 62,167 China-made electric vehicles in April, down 18% from a year earlier, lagging the broader market’s surge, China Passenger Car Association (CPCA) data showed on Tuesday. Tesla shares fell 3.8% on Tuesday, amid concerns about softening… Continue Reading…

Business, Stocks

“Shares of Nio soar more than 20% as EV deliveries more than double in April”

“Shares of Chinese electric vehicle maker Nio Inc jumped 20% Thursday after its vehicle deliveries more than doubled in April. Hong Kong-listed shares of the company jumped as much as 23% to 44.20 Hong Kong dollars, touching their highest level in over… Continue Reading…