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FINANCIAL NEWS
Nio falls on outlook, but Valuation upside remains attractive

Last week, Chinese electric vehicle maker Nio reported disappointing first-quarter results, having lost $281.2 million, broader than the $68.8 million it lost a year ago.

GameStop reports a mixed bag of earnings results, shifts to NFTs

On Wednesday, GameStop reported mixed first-quarter results as the video game retailer pivots toward a more online-focused model and shifts to cryptocurrencies and nonfungible tokens.

Salesforce raises profit forecast, climbs 9% on solid perfomance

On Tuesday, shares of the cloud-based customer relationship management company, Salesforce, jumped around 9% in extended trading after posting a better-than-expected increase in fiscal first-quarter revenue.

Costco delivers earnings beat; not raising any fees despite inflation

Last week, Costco Wholesale reported fiscal 2022 third-quarter earnings that beat earnings per share and revenue expectations, bolstered by a record-breaking membership renewal rate.

Nvidia posts record sales in data center and gaming

Graphics-chip maker Nvidia Corp. gave a muted sales outlook Wednesday as it posted record sales in Data Center and Gaming for the most recent quarter.

Alibaba surge in Hong Kong after strong earnings beat

On Friday, Alibaba Group Holding Ltd shares soared in Hong Kong, extending the positive momentum from U.S. trading overnight as investors welcomed the company's better-than-expected earnings.

Dell's earnings crush estimates on strong PC and enterprise demand

In premarket trading Friday, shares of Dell Technologies Inc. rose 12% after the company reported higher first-quarter sales and lower operating expenses.

Shares of Nordstrom climb on full year outlook and strong first-quarter sales

On Tuesday, Nordstrom raised its forecast for earnings and revenue for the coming year ahead of analysts' expectations, sending shares up nearly 10% in premarket trading Wednesday.

Home Depot raises profit outlook on steady demand, shares climb

Atlanta-based home improvement retailer Home Depot reported first-quarter earnings that topped expectations and raised its full-year profit forecast.

Cisco spooks investors on bleak outlook; shares plunge

Cisco Systems Inc. spooked investors Wednesday after generating lower quarterly revenue than analysts expected, sending shares down by as much as 17% in extended trading.

Walmart falls sharply; poised to survive inflationary pressures

On Tuesday, Walmart cut its full-year profit forecast that missed Wall Street's expectations by a wide margin, sending shares tumbling 11.38%, the worst beat in nearly 35 years.

Rivian maintains production forecast as supply chain challenges continue

On Wednesday, electric vehicle maker Rivian reported first-quarter revenues below Wall Street expectations and maintained its production forecast of 25,000 units for 2022.

Affirm soars 21% on profit beat, more room for growth?

Affirm Holdings Inc., the technology-driven payments network, reported better-than-expected revenue growth of 53.8% year-over-year to $354.8 million, topping estimates of $344.03 million.

Disney reports streaming growth but theme parks still take center stage

Walt Disney Co. reported subscription numbers for its Disney+ streaming service that were better than expected in the most recent quarter, avoiding the economic slowdown and broader market volatility.

Sony announces booming profit; moves away from traditional hardware

Tokyo-based Sony Corp.'s fourth-quarter net profit surged 67% to $852.7 million from a year earlier, thanks to higher earnings from the game, music, and movie businesses, Sony said Tuesday.

AMC ticket sales soar as moviegoers return to theaters

(AMC) Entertainment Holdings Inc., the world's largest movie theatre chain, reported first-quarter sales more than five times higher than the year-ago period, which beat analysts' estimates as moviegoers return to theaters.

Uber warns of hiring slow down; shifts focus on profitability

According to a CNBC report Monday, Uber Technologies will scale back hiring and reduce expenditure on its marketing and incentive activities. The ride-hailing company becomes the latest to rein over a hiring slow down.

Shares of Block rise on Strong Cash App momentum

Block shares were rising early Friday after the payments company said gross profit from its Cash App rose 26% and that overall consumer spending through April had not seen a decline.

eBay shares plunge despite quarterly results exceeding estimates

Despite posting quarterly results, which exceeded both internal and Wall Street estimates, eBay shares fell as much as 6% during extended trading Wednesday.

Pfizer beats quarterly estimates but keeps sales forecast for COVID pill

Boosted by sales of its COVID-19 vaccine and antiviral Paxlovid, Pfizer Inc. posted better-than-expected first-quarter earnings Tuesday.

Starbucks regains some of its strength, boosted by higher sales

On Tuesday, Starbucks reported higher quarterly sales and profits as the coffee giant continues expansion alongside growing U.S. same-store sales.

Airbnb well-positioned for pent-up travel demand amid positive outlook

Holiday rental firm Airbnb Inc. projected second-quarter revenue that easily topped Wall Street's estimates as the company sees "substantial demand" for traveling ahead of a busy summer season.

BP posts record first quarter earnings despite Russian exit

On Tuesday, BP posted record first-quarter earnings despite losses of $25.5 billion following the decision to exit its 19.75% shareholding in Russia's Rosneft Oil Co.

5 Things to watch in this week's market

This week's earnings will continue to roll in following the worst month for stocks in over two years. Moreover, Friday's U.S. employment report forecasts robust jobs growth in April, another key part of the Fed’s mandate.

Amazon stocks plunge amid slow sales growth; warehousing demand cools

Amazon stock plunged Friday after reporting its first quarterly loss since Jeff Bezos stepped down as its CEO and its slowest sales growth since 2001.

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