Month: August 2022
Alibaba shares jump 7% after quarterly earnings beat expectations
Alibaba has faced growth challenges amid regulatory tightening on China’s domestic technology sector and a slowdown in the world’s second-largest economy. But analysts think the e-commerce giant’s growth could pick up through the rest of 2022. Kuang Da | Jiemian News | VCG | Getty Images Alibaba reported fiscal first-quarter earnings on Thursday that beat […]
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Baird downgrades Under Armour, citing near term risks to earnings
Baird is losing confidence in Under Armour ‘s ability to weather the current economic backdrop and successfully execute its plans to transform the brand. “Our view of UAA’s near-term prospects has deteriorated materially over the past two quarters, and we now have much lower confidence that the multi-year brand transformation and healthier full-priced business in […]
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Restaurant Brands International earnings top estimates, fueled by stronger Tim Hortons, Burger King sales
A sign is posted in front of a Burger King restaurant on February 15, 2022 in Daly City, California. Justin Sullivan | Getty Images Burger King parent company Restaurant Brands International on Thursday reported quarterly earnings and revenue that topped Wall Street’s expectations, fueled by same-store sales growth at all three of its chains that […]
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Job cuts and smaller bonuses loom for Wall Street bankers amid deals slowdown, consultant says
People walk by the New York Stock Exchange on May 12, 2022 in New York City. Spencer Platt | Getty Images News | Getty Images Investment bankers hit with a collapse in equity and debt issuance this year are in line for bonuses that are up to 50% smaller than 2021 — and they are […]
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UAE hospital group Burjeel posts record full-year revenues ahead of a potential IPO
Talk of a potential listing for Burjeel Holdings comes as the Emirates benefits from a Middle East IPO boom, with Abu Dhabi and Dubai taking several government entities public this year. Bloomberg | Bloomberg | Getty Images DUBAI, United Arab Emirates — Indian billionaire Shamsheer Vayalil is accelerating plans to take Burjeel Holdings public after […]
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Morgan Stanley downgrades Levi Strauss as macro headwinds pressure earnings
The outlook is murky for Levi Strauss going forward, according to Morgan Stanley. “Macro uncertainty + elevated apparel inventory could limit positive EPS revisions,” wrote analyst Kimberly Greenberger in a note to clients Thursday. “So while our constructive thesis & estimates are unchanged, we downgrade to EW.” The downgrade makes Morgan Stanley the only Wall […]
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Why this analyst believes advertising is the next big revenue driver for Apple
Advertising is the next revenue driver for technology giant Apple and the company is already making strides toward building it, according to Needham’s Laura Martin. “We believe advertising could be a meaningful upside driver for AAPL’s Services revenues and gross profit, especially based on AMZN’s success in growing its advertising business to $37B in 2022E, […]
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Adidas boss says LIV Golf a ‘normal evolution,’ wants to focus on player partnerships
Phil Mickelson of the U.S. during the inaugural LIV Golf Invitational at the Centurion Club, Hemel Hempstead, St Albans, Britain, June 8, 2022 Paul Childs | Action Images via Reuters Adidas CEO Kasper Rorsted believes the controversial Saudi Arabia-backed LIV Golf series is part of a “normal evolution” of the sport and said the German […]
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Southeast Asia’s largest bank says wealth management, capital markets business face challenges
DBS Group CEO Piyush Gupta said the bank’s wealth management and capital markets businesses continue to see “headwinds,” despite the bank reporting robust second-quarter earnings. “Business momentum is a bit mixed. Our corporate lending activities are actually doing quite well. And so the balance sheets continue to grow,” Gupta told CNBC’s “Capital Connection” following the […]
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China begins live-fire military drills around Taiwan, a day after Pelosi visit
A Chinese military helicopter flies past Pingtan island, one of mainland China’s closest points to Taiwan on August 4, 2022. China’s largest-ever military exercises encircling Taiwan follow a visit to the self-ruled island by U.S. House Speaker Nancy Pelosi. Hector Retamal | AFP | Getty Images China launched unprecedented live-fire military drills in six areas […]
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