Alibaba, whose head office is pictured here on May 26, said its GMV of online physical goods in China, excluding unpaid orders, fell further in April, with a “low teenage” drop from to a year ago. Str | AFP | Getty Images BEIJING — Chinese tech giants Alibaba, Tencent and JD.com all recorded their slowest … Read more
Oaktree Capital founder Howard Marks is a bold name on Wall Street, known as much for his company’s performance as for his lengthy investor letters that he periodically posts for free online to reach the widest audience. wide as possible. As stocks plunged earlier this month, Marks – who built one of the most successful … Read more
A Lululemon sign hangs in front of their Woodbury Commons Premium Outlets mall store on November 17, 2019 in Central Valley, New York. Gary Hershorn | Corbis News | Getty Images Check out the companies making headlines Thursday at noon. Macy’s – Shares jumped 17.8% after the department store chain reported better-than-expected quarterly results and … Read more
One of Silicon Valley’s most successful venture capitalists doesn’t see the economy rebounding anytime soon and is warning its portfolio companies to tighten their belts in the meantime. In a 52-page presentation seen by CNBC, the Sequoia lays out a litany of risks making it harder for founders to raise funds and operate. The memo, … Read more
Check out the companies making headlines before the bell: Macy’s (M) – Macy’s jumped 15% premarket after reporting better-than-expected first-quarter earnings and revenue and raising its full-year profit forecast. Results were boosted by strong demand for clothing as people returned to work and other out-of-home activities. Dollar General (DG) – Shares of Dollar General rose … Read more
Check out the companies making headlines before the bell: Dick’s Sporting Goods (DKS) – The sporting goods retailer’s shares fell 14.4% pre-market after posting a weaker-than-expected outlook for the full year as it falters adjusts to what he calls tough macroeconomic conditions. Dick’s reported better-than-expected earnings and revenue for its latest quarter, and same-store sales … Read more
Many investors are convinced that US equities are already in a bear market, although the benchmark S&P 500 index has yet to technically confirm this. History indicates that the ferocity of any decline may depend on whether or not the economy avoids a recession. It seems obvious, but the debate over whether the economy is … Read more
Traders on the floor of the NYSE, May 17, 2022. Source: NYSE U.S. stock futures rose late on Tuesday after the Nasdaq Composite fell during the regular session, following a slowing growth warning from social media firm Snap that hurt the index with a strong technological component. Dow Jones Industrial Average futures rose 111 points, … Read more
The Nasdaq Composite fell on Tuesday as fears over Snap’s dire warning spread to other tech names, while the Dow Jones Industrial Average rallied to the close from day lows. The tech-heavy Nasdaq fell about 2.4% to 11,264.45. The S&P 500 fell 0.8% to 3,941.48. Meanwhile, the Dow Jones added 48.4 points, or 0.2%, to … Read more
New York CNN Business — Wall Street was not in a particularly social mood on Tuesday. Social media shares tumbled following an ominous earnings warning from parent Snapchat. Shares of Snap (SNAP) plunged more than 40% on Tuesday and hit their lowest level since March 2020, just after the Covid-19 pandemic hit the United States. … Read more
