Credit Suisse Group has reported its worst yearly loss since the 2008 financial crisis. In addition, the bank has warned that it expects losses to continue into 2023. During the recent months the bank has been involved in one scandal after another and suffered outflows of nearly $120 billion. On the announcement, the company's stock price declined almost 12.00%, compared
The tobacco company's stock price declined by as much as 6.45% on during today's early trading due to a company announcement. British American Tobacco has revealed that it expects a smaller increase in earnings in 2023 than previously expected. No share buybacks are planned, despite recent rumours of an upcoming buyback. In addition, the company pledged to sell off its business
The stock price of Alphabet plummeted at the start of the day's trading due to the company revealing its new AI platform. Namely, the AI failed to answer questions correctly in an advertisement, which resulted in the stock drop of more than 5.50%.
Last night, three top US companies Apple, Alphabet and Amazon have published their quarterly earnings results. In general, all companies have missed earnings and revenue estimates, which were already reduced due ongoing decline of consumer demand. Apple missed earnings per share by 3.03%. Earnings came in at $1.88 instead of expected $1.939. Total revenues were below expectations by 3.44%. The company
The stock price of the Facebook owner Meta soared at the start of the day's trading, the surge was attributed to the company announcing a $40 billion stock buyback and the CEO of the company announcing a "Year of Efficiency". Meanwhile, the company's profits have fallen from $10.29 billion to $4.65 billion and earnings per share are down to $1.76
At the start of the day's trading, the stock price for Tesla jumped by nearly 10.00%. The stock price started the day at $158.37, compared to the previous close of $144.44. The boost of the stock price occurred due to the quarterly earnings results that were released after Wednesday's market close. The company had beaten its earnings forecast by
The stock price of Microsoft dropped below $235.00 at the start of the day's trading, as a 3.30% decline occurred. The move was caused by the company revealing its quarterly results and future outlook, which has disappointed the financial markets.
The CEO of Tesla and owner of Twitter Elon Musk has revealed a $3.6 billion sale of Tesla stock. The latest sale of shares has brought the total sold amount to $40 billion. The stock price of Tesla was expected to start the day's trading with a gap down of almost 3.00%, as pre-market deals had occurred below the
The stock price of Microsoft surged at the start of the day's trading, despite a broad stock sell off taking place. The company's share price reacted to the US FTC banned the Microsoft's $69 billion acquisition of Activision Blizzard. During the first fifteen minutes of the day's trading the stock price gained almost 2.00% and had surged above
At the start of the days US trading, the stock price for Tesla declined by 3.00%. The stock price reacted to a report about production cuts in China. It has been reported by Bloomberg news agency that Tesla has decreased its Model Y output in Shanghai by 20%, compared to November levels. The company has not responded to the reports.
The stock price of Credit Suisse entered its 13th consecutive day of declining, as the stock price lost additional 5.50% and reached 2.67 franc mark. Since November 23, the shares have lost 30.15% of their value. This has been the worst performance since 1989. The decline has been attributed to massive fund outflows from the bank's wealth-management business. Meanwhile, Credit Suisse
Despite reporting better than expected quarterly results, the stock price of Nordstrom plummeted at the start of Wednesday's US trading hours. The stock price started the day at the $20.60 level, compared to yesterday's close at $22.65. Namely, the shares dropped 9.45%. The company reported earnings per share at $0.20, instead of expected $0.149, which is a surprise of 34.62%.
Disney has announced that it would bring back Bob Iger as CEO less than a year after his retirement. The news caused an 8.21% jump of the company's share price.
The stock price of Snap plummeted at the start of the day's trading, as the company reported that it expects zero revenue growth in the current quarter. The news impacted all social media stock prices, as YouTube owner Alphabet, Meta Platforms and Twitter stocks declined from 1.70% up to 9.2%.
AB Volvo has revealed that despite higher earnings in the third quarter of 2022, the company is experiencing a rise in material costs and disruptions of supply. The announcement caused a 6.10% or 10.78 SEK decline of the company's share price.
The US Dollar has reached above a new benchmark level against the Japanese Yen. During the day's morning hours, the rate shortly traded above the 150.00 level. The event marks a new level for the ongoing depreciation of the Yen. The Japanese Yen has continued to lose value against peer currencies despite the Bank of Japan efforts to stop it. The
The stock price of Netflix surged more than 15.00% during the first 30 minutes of the day's US trading due to better than expected quarterly earnings report. The company reported earnings per share of $3.10 instead of market expected $2.14. Meanwhile, the company's total revenue increased by only 1.12%.
The stock price of the Japanese multinational conglomerate Toshiba jumped on Thursday by 8.05% or 412 JPY. A consortium of private equity firms has announced that it seeks to buy out shares for a total value of $19 billion. The news agency Kyodo has revealed that the total premium for the buyout stock amounts to 26%, compared to Wednesday's
The electric vehicle maker Tesla has revealed third quarter results. Due to logistics issues for the company it has delivered less vehicles than the market expected. Markets expected 359,162 new cars to reach their drivers, compared to the actual number of 343,830. The company's stock price reacted to the news with an immediate drop at the start of the day's
The stock price of FedEx plummeted 23.25% during Friday's trading. This is the company's biggest price drop ever. However, by Monday's 17:45 GMT, the shares had staged a recovery of 4.82%. The decline occurred, as the CEO of the Company Raj Subramaniam stated to CNBC that the company expects a global recession, as demand for shipping has been tumbling in
As the day's US trading started, the stock price of Take-Two Interactive Software declined by 2.04%. The drop occurred due to the leaking of early footage of Grand Theft Auto VI during the weekend. The leak included dozens of videos revealing gunplay, driving and robberies. Bloomberg has confirmed the leak as authentic.
Crude oil prices have reacted to the oil producing country cartel OPEC+ announcing that they would decrease their output targets by 100,000 barrels per day. Namely, the global supply of oil is going to be reduced. The markets took in the news, as crude price surged. Brent oil gained nearly 4.00% and Light crude 2.50%.UPDATE 07.09.2022.Despite the OPEC+ production
Lululemon stock price surged at the start of the day's trading by 11.50% or $33.84. The reason for the surge was the earnings announcement of the athletic apparel company. Earnings per share beat expectations by 18.20% and total revenue was higher than expected by 5.43%.
Snap has revealed that it would cancel various projects and reduce up to 20% of its staff in an effort to cut costs. The markets reacted to the news, as the stock price of the company surged nearly 14.00%, prior to retracing and giving up half of the gains.