Match Group reports 3Q results and posts weaker outlook for the upcoming quarter
Match Group, a technology company that operates several online dating sites, released its 3Q 2023 results. Adjusted operating profit was up 17% from the same period last year. In the outlook, the company accounts for negative effects related to exchange rate developments and geopolitical events in... Read more
3M raises its full-year outlook after last quarter
US multinational conglomerate 3M reported its third quarter results. Within these, it reported sales and earnings per share above analysts' expectations and raised its full-year outlook on both earnings per share and cash flow.
3Q results
On a revenue level, the company generated $8.31 billion in the third quarter, down 3.6% year... Read more
It looks really good. I still have confidence in the company and hold its stock. I like the EPS outperformance of over 14% and the stock's move up 5% signals that I probably won't be alone :)
US bank Wells Fargo beats analyst consensus on almost all levels with its 3Q 2023 results and has once again raised its outlook for the full fiscal year 2023.
3Q results
Among the segments, consumer banking earned Wells Fargo the most, at USD 9.58 billion. Corporate and investment banking earned $4.92 billion. Commercial banking and wealth... Read more
On Wednesday, the minutes of the US Fed meeting held on 19-20 September will be published, at which the FOMC members left rates unchanged in the range of 5.25-5.5%. The next Fed meeting takes place from 31 October to 1 November and the money market is currently pricing in only a 16% chance of a Fed-indicated next rate hike (the latest so-called dot plot with individual FOMC... Read more
Great data breakdown. So overall I would conclude that the data and news has been quite positive the last few days, reducing the chances of the Fed hiking at the next meeting by quite a bit. So we'll see, I'd still be cautious with some bullishness though? ...
This weekend saw a significant escalation of violence as surprise attacks from Gaza claimed hundreds of lives, dozens of captives and thousands of wounded. This disturbing development has cast a shadow over the ongoing peace talks between Israel and Saudi Arabia and raised questions about the possibility of their continuation. Although... Read more
Great, I don't have hours of free time to watch the news on TV so thank you very much for this article which I had a few minutes to read and learned the information I needed to know :D
Levi Strauss $LEVI, the well-known jeans retailer, again cut its full-year sales forecast following poor quarterly earnings results that fell short of Wall Street expectations. The company's shares fell slightly in extended trading as shopping trends at department stores and major retail chains in the U.S. weakened.
Levi's had expected its fiscal third quarter net sales to be... Read more
ExxonMobil nears deal to buy Pioneer Natural Resources
US oil giant ExxonMobil is just a short distance away from closing a deal to take over Pioneer Natural Resources in a deal worth around USD 60 billion, according to the WSJ.
The vertically integrated oil giant ExxonMobil is expected to close a deal to buy Pioneer Natural Resources in the coming days.
Investors and analysts say sandal company Birkenstock needs to sell more clogs and boots and boost sales from its own website and boutiques before listing on the New York Stock Exchange next week to attract new customers amid a cost-of-living crisis. Birkenstock is the latest major stock market entry to draw investor attention to the initial public offering (IPO) market, which... Read more
This is a nice example of how LVMH raises capital for new acquisitions and business development. They will buy the company for $4.8bn in 2021, improve its business performance and then float a minority stake on the stock exchange (total valuation is estimated at $9.2bn).
The markets are reacting with a decline, but it is not as bad as the past days. Let's see what happens next, October will hopefully be calmer but I think November will be tense again.
Amazon.com $AMZN used an algorithm code-named "Project Nessie" to test how much it could raise prices so that competitors would follow suit, according to redacted portions of the Federal Trade Commission's monopoly lawsuit against the company.
According to people familiar with the allegations in the complaint, the algorithm helped Amazon increase profits on items across shopping... Read more
The results are nice, but the company...Overall, I just don't like it.