(Bloomberg) — Palo Alto Networks Inc. slid in late trading after giving a downbeat forecast for the current period, renewing concerns about a slowdown in cybersecurity services. Most Read from Bloomberg Revenue in the fiscal fourth quarter will be $2.15 billion to $2.17 billion, the company said in a statement Monday. Analysts had anticipated a […]
(Reuters) – Shares of DXC Technology slumped 18% on Friday, after the IT services provider unveiled a new revamp and forecast fiscal 2025 revenue and profit below estimates. The latest attempt comes as a sale bid failed last year and exits of top executives and a slowdown due to high interest rates hampered efforts to […]
(Reuters) – U.S. homebuilder sentiment soured in May for the first time in six months as high interest rates on home loans kept potential customers on the sidelines and more builders had to offer incentives to lure buyers, data out Wednesday showed. The National Association of Home Builders/Wells Fargo Housing Market Index fell unexpectedly to […]
HONG KONG (AP) — Chinese e-commerce company Alibaba Group Holding on Tuesday posted a greater-than-expected decline in profit for the fourth quarter due to its equity investments, sending its stock price plunging in New York. Its net income for the quarter ended March was 3.3 billion yuan ($453 million), down 86% compared to the same […]
By Casey Hall and Akash Sriram (Reuters) -China’s Alibaba Group Holding reported an 86% plunge in fourth-quarter profit on Tuesday primarily due to valuation changes from equity investments, pushing its U.S.-listed shares down almost 6% in early trading though revenue beat forecasts. It also announced it would revive a plan first floated in 2022 to […]
Exact Sciences (EXAS) stock tumbled late Wednesday after the Cologuard maker reported wide March-quarter losses, though sales came in ahead of expectations. X Cologuard is a means of screening for colon cancer using stool collection at home. Exact Sciences says it’s an easier and speedier option than colonoscopies, given the backlog in the U.S. health […]
Shopify plunged Wednesday after the Canadian company that helps retailers with online sales warned of easing revenue growth and thinner margins in the current quarter. That caught a lot of investors off guard after the company rebounded strongly from the pandemic and started 2024 with a bang. Shopify Inc. is predicting that revenue will climb […]
(Bloomberg) — Celsius Holdings Inc. shares plummeted in early trading Tuesday after the energy-drink maker’s quarterly sales reached a record, yet still missed Wall Street expectations. Most Read from Bloomberg The shares, which had more than doubled over the past year, dropped as much as 18% in trading before US markets opened. If that carries […]
Getty Trump Media’s stock price dropped on Friday after its auditor was accused of “massive fraud.” The auditor BF Borgers did not comply with common accounting standards, the SEC said. Shares of the media company fell as much as 9% on Friday morning. Trump Media shares tumbled yet again on Friday after the Securities and […]
Cloudflare (NET) on Thursday reported first quarter earnings and revenue that topped Wall Street targets while guidance only met expectations. Cloudflare stock fell on the outlook. X Reported after the market close, Cloudflare earnings for the quarter ending March 31 came in at 16 cents, up 100% from a year earlier. Revenue climbed 30% to […]
(Bloomberg) — Peloton Interactive Inc. shares fell to a record low after Chief Executive Officer Barry McCarthy announced plans to step down and the struggling fitness company embarked on a major restructuring that will reduce its global workforce by 15%. Most Read from Bloomberg The board will conduct a search to name a replacement, Peloton […]
Federal prosecutors are probing financial transactions at Square parent Block (SQ) including Cash App and bitcoin, according to a report. Square stock tumbled on the report, a day before first quarter Square earnings are due. X On the stock market today, Square stock fell 8.4% to 66.85. With Wednesday’s loss, SQ stock is down about […]