Tag Archives: soar

U.S. consumer prices in June accelerated at the fastest annual pace since November 1981 — rising 9.1% year-over-year, up from May’s 40-year high of 8.6%. Soaring food prices contributed significantly to the surge with the category seeing increases of 1% over the month and 10.4% annually, the biggest 12-month increase since the period ending February 1981. Grocery prices rose 1% last month and 12.2% on a year-over-year basis with the prices of cereal, bread, and chicken seeing increases of… Source link

(Bloomberg) — US-listed China stocks surged Monday to the highest since early April on increased speculation that a year-long government crackdown on the technology industry is easing. Most Read from Bloomberg While the S&P 500 Index struggled to mount much of an advance, the Nasdaq Golden Dragon Index closed 5.4% higher after surging as much as 8.3%, as Chinese regulators were said to be close to wrapping up their investigation of Didi Global Inc. The company’s American depositary receipts… Source link

(Bloomberg) — Facebook’s main social network added more users than projected in the first quarter, potentially staving off concerns that the company is losing momentum as a new generation flocks to younger sites like TikTok. Most Read from Bloomberg Shares surged more than 19% in late trading after Facebook parent company Meta Platforms Inc. reported 1.96 billion daily users for its flagship platform, a return to growth after the first-ever decline in the December quarter. Analysts had… Source link

Reuters U.S. congresswoman Greene bought Trump SPAC shares (Reuters) -U.S. Representative Marjorie Taylor Greene, an ally of Donald Trump, bought as much as $50,000 worth of shares in the special purpose acquisition company (SPAC) that has agreed to merge with the former president’s new social media venture. Greene bought shares worth between $15,001 and $50,000 on Oct. 22, the day they rose in value by as much as 1,650% from what they were worth before the deal, as amateur traders and Trump… Source link

Shares of Crocs (CROX) rose as much as 17% and reached a record high in intraday trading off the heels of an investor day that gave Wall Street plenty to dig its heels into. Shares closed at $149.38 apiece, up 11.66% on the day. Crocs expects to pull in revenue of over $5 billion by 2026. It will also focus on expanding its reach in Asia and expanding its digital growth. The company is also boosting its sustainability efforts, announcing a new bio-based, lower carbon material called… Source link

Walmart (WMT), the world’s largest retailer, reported better-than-expected second-quarter revenue and sales results, driven by store traffic and stimulus check spending that bolstered its footprint in grocery sales in the face of surging COVID-19 infections nationwide. Here are the results versus the estimates, according to Bloomberg: Adjusted EPS: $1.78 v. $1.57 estimate Revenue: $141 billion v. $136.88 billion Walmart U.S. comp-store sales (excluding gas): 5.2% v. 3.12% estimate Walmart U.S…. Source link

Alphabet, Google’s parent company, just made in three months what it took until recently an entire year to earn. That is a level of growth that companies of its size rarely if ever achieve, but the pandemic has erased all the limits for tech firms. The search and advertising company on Tuesday reported record profits and revenue for the second quarter, vindicating the enthusiasm of investors who doubled its value on the stock market since early last year. The stellar results pushed shares… Source link

Last quarter, Google roared out of the post-pandemic-peak period with a record $17.9 billion in profit, finally joining other tech giants that had been raking it in despite (or perhaps because of) the rise of COVID-19. But Alphabet’s Q2 2021 earnings do it one better — the company just set an all-time record revenue of $61.9 billion this quarter, and record profits for the fourth quarter in a row at $18.5 billion. Some of the numbers the company’s posting today (PDF) are nearly… Source link

JPMorgan Chase (JPM) kicked off the second quarter earnings season for bulge-bracket backs on Tuesday, reporting better-than-expected earnings results that were bolstered by a strong economy and the release of credit reserves. Here are the key figures versus estimates, according to Bloomberg: Adjusted earnings per share (EPS): $3.78 vs. $3.15 estimate Excluding credit reserve releases: $3.03 per share Revenue: $31.4 billion vs. $30.06 billion estimate During the quarter, the largest U.S. bank by… Source link

Online traders have found new targets during this week’s “meme stock” resurgence.  Geo Group (GEO), a company that owns and manages private prisons, saw shares soar by as much as 73% intraday on Wednesday for the stock’s biggest one-day gain on record. Shares pared some advances after reaching as high as $11.00 apiece and closed 38% higher, or at $8.80 per share.  Natural gas service provider Clean Energy Fuels Corp. (CLNE), likewise, rose as much as 46% on Wednesday before ending the day up… Source link