U.S. Movers: 3M, LegalZoom.com, TSMC

Jul 10, 2024
Scott Peters
TSMC reported a sharp jump in revenue from a year ago in June. 3M Company said its finance chief resigned. LegalZoom.com lowered its annual revenue outlook and said its chief executive has departed.

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U.S. Movers: BP, indivior, Nvidia

Jul 9, 2024
Scott Peters
BP plc said its refining margins in the second quarter are likely to be lower due to multiple factors. Indivior, the UK-based drugmaker, lowered its annual adjusted earnings outlook and announced its plan to discontinue production of the schizophrenia drug. 

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Ford Motor said its vehicle sales in the second quarter rose 1%. Paramount Global's controlling shareholder is nearing an agreement to be acquired by Skydance Media. Southwest Airlines adopted a shareholder rights plan to ward off an activist investor.

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Walgreens lowered its quarterly earnings outlook again and said it plans to close a large number of underperforming stores in the U.S. Levi Strauss quarterly results fell short of market expectations.

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Volkswagen announced its plan to invest as much as $5 billion in a joint venture with the electric vehicle maker Rivian as the German automaker plays catch up. 

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SolarEdge Technologies plans to raise $300 million through the sale of convertible debt maturing in 2029. The regulators at the European Union said Microsoft is breaching antitrust rules in the region.

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RXO agreed to acquire the freight brokerage business from UPS for more than $1 billion. The European Union regulators said that Apple's App Store violated the region's new Digital Markets Act.

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Darden Restaurants reported flat comparable quarterly sales as consumers avoided fine dining experiences amid high costs of living and elevated interest rates. Accenture reported weaker-than-expected quarterly results, but the company's new AI-related bookings positively surprised investors.

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La-Z-Boy reported better-than-expected quarterly results. Chegg announced a restructuring plan that includes significant job cuts. Lennar said revenue, new home orders, backlog, and net income advanced in its latest quarter.

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U.S. Movers: Adobe, RH

Jun 14, 2024
Scott Peters
RH, the high-end furniture retailer, reported its third consecutive decline in sales and quarterly losses in a row amid challenging housing market conditions and elevated interest rates. Adobe reported better-than-expected quarterly results and lifted its annual outlook.

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Broadcom reported better-than-expected quarterly results and announced a 10-for-1 stock split. Oxford Industries quarterly sales and earnings declined, but the company held out for higher annual sales in its fiscal year. Dave & Buster's reported quarterly sales were below the market's expectations. 

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Oracle reported weaker-than-expected revenue and earnings growth in its latest quarter. Rentokil Initial was in focus after an activist investor acquired a sizeable stake in the company. Rubrik reported a jump in quarterly losses and a rise in free cash outflow. 

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Cognizant Technology agreed to acquire defense and aviation-focused information technology provider Belcan. Apollo Global and its partners are nearing a bid to acquire DXC Technology.

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GameStop extended the previous week's losses. Nvidia traded after a 10-to-1 stock split. KKR, GoDaddy, and CrowdStrike are set to replace Comerica, Illumina, and Robert Half in the S&P 500 index. 



U.S. Movers: GameStop, Vail Resorts

Jun 7, 2024
Scott Peters
GameStop, the video game retailer and the focus of meme stock investors, reported a narrower loss and announced another secondary offering. Vail Resorts reported weaker-than-expected quarterly sales and earnings.

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