Monthly Archives: August 2024

(CNBC) Net sales lost 46.5% year-on-year, while net profit fell 55.3%. Nintendo sold 2.1 million units of its flagship Switch consoles, down 46% on the year. Investors are looking out for news surrounding a successor to Nintendo’s ageing but highly […]

(CNBC) Snap said third-quarter revenue will be between $1.335 billion and $1.375 billion, or $1.355 billion in the middle of the range. Analysts were expecting $1.36 billion. The company expects adjusted earnings of $70 million to $100 million, trailing the […]

(Hedgeweek) Hedge funds, which have been heavily concentrated in the so-called “Magnificent Seven” tech stocks, are now gradually reducing their exposure to these high-flying companies, according to a report by the Financial Times citing analysis by Goldman Sachs. To read […]

(CNBC) Stock futures rose in overnight trading Wednesday as investors weighed the latest corporate earnings reports, including strong results from Meta Platforms. S&P 500 futures gained 0.5%, while Nasdaq-100 futures jumped nearly 0.9%. Futures tied to the Dow Jones Industrial Average added 65 points, or […]

(CNBC)Meta provided revenue guidance for the third quarter of $38.5 billion to $41 billion, or $39.75 billion at the middle of the range. Analysts were expecting a forecast of of $39.1 billion. The Facebook parent reported second-quarter revenue growth of […]

(CNBC) Bill Ackman’s Pershing Square USA withdrew plans for an initial public offering after investor demand appeared to wane from original expectations. But the hedge fund titan said he would be back with a revised plan for the offering for […]

(CNBC)Microsoft’s relationship with OpenAI has officially become more complicated. Microsoft has a long-term partnership with OpenAI, serving as its exclusive cloud provider and using its AI models in products for commercial clients and consumers. Microsoft is the biggest investor in OpenAI, having […]

(Hedgeweek) More than 50% of America’s largest hedge funds are now investing in cryptocurrencies – and bitcoin in particular – a clear sign of increasing institutional adoption of the asset class, according to a report by The Street citing data […]

(Hedgeweek) Hedge funds are swiftly reducing their positions in industrial stocks, turning their attention to sectors tied to commodities such as energy and materials amid rising geopolitical tensions and fears of economic slowdowns in the US and China, according to […]

(CNBC) UBS on Thursday posted a second-quarter profit of $28.88 billion in its first quarterly earnings since Switzerland’s largest bank completed its takeover of stricken rival Credit Suisse. Analysts had projected a net profit of $12.8 billion for the three […]

(CNBC) Salesforce shares jumped 6% in extended trading on Wednesday after the cloud software company announced quarterly results and guidance that surpassed Wall Street’s expectations. Here’s how the company did: Earnings: $2.12 per share, adjusted, vs. $1.90 per share as […]