GameStop raised more than $934 billion through a secondary equity offering. Elliott Management acquired a stake in Texas Instruments and urged the company to take a more flexible approach to its capital spending plan. T-Mobile U.S. agreed to acquire the wireless and spectrum assets of U.S. Cellular. 

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Nvidia reported a surge in revenue and earnings and estimated current quarter revenue ahead of market expectations. The artificial intelligence chipmaker also announced a stock split. VF Corp. unexpectedly swung to a quarterly loss. 

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Target Corp. reported weaker-than-expected earnings and indicated weakening trends in discretionary item sales. Toll Brothers revised its annual home delivery estimate higher after exceeding earnings and sales expectations in its latest quarter.

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AutoZone reported better-than-expected quarterly earnings, but revenue fell short of market expectations. Macy's reported better-than-expected quarterly results and lifted its annual outlook. Lowe's said comparable same-store sales declined in the latest quarter. 

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GameStop announced its plans to sell 45 million shares in a secondary offering. Take Two Interactive reported a sharp rise in its quarterly loss.

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Walmart reported better-than-expected quarterly earnings and lifted its annual outlook after Sam's Club and global advertising units showed strength. Cisco Systems reported the largest decline in revenue in more than a decade. Deere & Co. lowered its annual sales outlook. 

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Boot Barn, the western apparel retailer, offered a muted outlook for the current fiscal year. Nextracker said revenue and earnings rose in its fiscal fourth quarter. Meme stocks dropped after surging in the previous session. 

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Alibaba Group said quarterly sales rose, but net income plunged, primarily reflecting investment in publicly listed companies. Home Depot's U.S. and overall comparable same-store sales fell in the first quarter. 

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SquareSpace agreed to go private in a deal that valued the company at $6.9 billion. Microsoft, Amazon.com, Accenture, Pfizer, AstraZaneca, and others announced their plans to invest a total of ?15 billion at the annual investment summit held by the French government.

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Sweetgreen reported a strong gain in revenue and a decline in net loss in the first quarter. Akamai Technologies' second quarter guidance fell short of market expectations. Novavax struck a multi-billion-dollar licensing agreement with Sanofi. 

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Arm Holding's second-quarter revenue outlook disappointed some investors. Airbnb reported record first-quarter results but offered a muted current-quarter outlook. Uber reported a loss in its latest quarter. 

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U.S. Movers: Apple, Amgen, Expedia

May 3, 2024
Scott Peters
Apple said revenue and earnings declined in the March quarter and announced a $110 billion stock repurchase plan. Expedia reported higher revenue in the first quarter, but the company's guidance disappointed some investors. Amgen said it plans to take its injectable weight loss drug to a phase 3 trial. 

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Carvana announced record revenue and net income in the first quarter after vehicle unit sales jumped 16%. DoorDash reported a wider-than-expected loss in the first quarter. eBay reported mixed quarterly results and guided weaker-than-expected current quarter revenue.

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Starbucks reported weaker-than-expected quarterly results in the first quarter, and the coffee chain lowered its full-year outlook. Amazon said quarterly revenue growth was driven by strong gains in its cloud service business and advertising revenue. AMD reiterated its full-year outlook. 

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McDonald's reported weaker-than-expected comparable same-store sales worldwide and in the U.S. Coca-Cola's first quarter sales and earnings were ahead of expectations. Eli Lilly sales surged, driven by price increases and volume growth of new products. 

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