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☆ Slack names longtime Salesforce executive Denise Dresser as new CEO
▼ + stars: | 2023-11-13 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +3 min

Denise Dresser, a longtime Salesforce exec, will become the new CEO of Slack. AdvertisementAdvertisementSalesforce CEO Marc Benioff said Monday that Slack had named Denise Dresser as its next chief executive. Dresser, who has worked for Salesforce for 12 years, is president of accelerated industries at Salesforce. Salesforce said in August that its chief people officer, Brent Hyder, would leave to "pursue a new opportunity." To contact Ellen Thomas with insight or information about Slack or Salesforce, reach out at ethomas@insider.com or call/text (646) 847-9416 using the encrypted-messaging app Signal.

Persons: Denise Dresser, Slack, Lidiane Jones, Marc Benioff, —, She'll, who's, Dresser, Denise, Benioff, Jones, Whitney Wolfe, Stewart Butterfield, Bret Taylor, Mark Nelson, Gavin Patterson, Ebony Beckwith, Salesforce, Brent Hyder, Salesforce's, Vikram Rao, Ariel Kelman, Oracle's, Ellen Thomas Organizations: Bumble Inc, Service, Salesforce, Elliott Management Locations: Salesforce

☆ Bumble forecasts weak fourth-quarter revenue, shares fall
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

Match last month, however, forecast fourth-quarter revenue below market estimates, reflecting the impact of a strong dollar and risk to revenue from Israel against the backdrop of the Middle East conflict. Total paying users across Bumble's apps including Badoo and Fruitz increased to 3.8 million in the third quarter, compared with 3.3 million a year earlier. Austin, Texas-based Bumble expects revenue for the quarter ending Dec. 31 to be between $272 million and $278 million, compared with analysts' estimates of $285.9 million, according to LSEG data. Total average revenue per paying user increased to $23.42 in the third quarter, compared with $22.96 a year earlier. The company posted revenue of $275.5 million, compared with estimates of $277 million.

Persons: Mike Segar, Bumble, Whitney Wolfe, Lidiane Jones, Jaspreet Singh, Shounak Dasgupta, Shilpi Majumdar Organizations: Nasdaq, Inc, REUTERS, Wall, Slack, Match, Thomson Locations: New York City , New York, U.S, Israel, Middle East, Austin , Texas, Bengaluru

☆ Bumble CEO Whitney Wolfe Herd Steps Down
▼ + stars: | 2023-11-06 | by ( Sara Ashley O Brien | ) www.wsj.com time to read: 1 min

Lidiane Jones, left, will become chief executive of Bumble Inc., replacing Whitney Wolfe Herd, right, who will move into an executive chair role. Photo: Pamela HansonBumble Inc.’s Whitney Wolfe Herd is stepping down as chief executive of the company known for the female-focused dating app she founded nearly a decade ago. She will be succeeded by Lidiane Jones, who became the chief executive of Slack Technologies in January. Jones starts as CEO of Bumble on Jan. 2. Wolfe Herd will remain at the company as executive chair.

Persons: Lidiane Jones, Whitney Wolfe, Pamela Hanson Bumble, ’, Jones, Bumble, Jan, Wolfe Organizations: Bumble Inc, Pamela Hanson Bumble Inc, Slack Technologies

☆ These 4 stocks report quarterly results next week. Here's what we hope to see
▼ + stars: | 2023-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)

Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho

☆ Bumble CEO: Here are the 'crazy hacks' I used to grow my app into a $1.9 billion company—one of them cost only $20
▼ + stars: | 2023-10-15 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Bumble had a "modest budget" at the time, Wolfe Herd said in a MasterClass course released on Thursday. Instead of traditional marketing campaigns, Wolfe Herd put together a series of "crazy hacks" to drum up interest in her Austin, Texas-based startup, she said. Wolfe Herd used a similar tactic with college fraternities, dropping off pizza with branded bumblebee stickers slapped onto the cardboard boxes. For Wolfe Herd, the momentum was validating. Seven years after launching the app, Wolfe Herd became the youngest female founder in history to take a company public.

Persons: Whitney Wolfe Herd, Bumble, Wolfe Herd, —, Fortune, Andrey Andreev, Forbes, She'd, Wolfe Organizations: Badoo, Aspen Ideas, Bumble Inc, CNBC Locations: Austin , Texas, Aspen , Colorado

☆ Bumble declines as higher expenses fan concerns about Tinder competition
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

Rival Match (MTCH.O), owner of Tinder, also forecast revenue for the third quarter above Wall Street estimates last week, expecting stronger marketing to drive user growth. Bumble App revenue grew 23.4% to $208 million in second the quarter, compared with $168.5 million a year earlier. Total revenue jumped 18.5% to $259.7 million, compared to $219.2 million, a year earlier. But Bumble forecast third-quarter revenue between $274 million and $280 million, a marginally higher midpoint compared with Wall Street expectations of $275.6 million, according to Refinitiv IBES data. Net earnings stood at $9.3 million, compared with a net loss of $5 million.

Persons: Mike Blake, Tinder, Nicholas Cauley, Bumble, we've, Whitney Wolfe, Manya Saini, Shinjini Organizations: Inc, Apple, Nasdaq, REUTERS, Tinder, Thomson Locations: Bengaluru

☆ Bumble posts robust quarterly revenue on sustained user spending
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

May 4 (Reuters) - Bumble Inc (BMBL.O) beat estimates for first-quarter revenue on Thursday as user spending on its dating app remained strong despite a looming recession, sending the company's shares up 4.6% in aftermarket trading. The parent company of the eponymous dating app, Badoo, and Fruitz, benefited from strong user growth during the quarter as more people opted to pay to find love and companionship. The company reported revenue of $242.9 million in the quarter ended March 31, compared with analysts' estimates of $241.0 million, according to Refinitiv data. Bumble, however, reported its slowest revenue growth since going public in February 2021, with first-quarter revenue rising 15.7% year-over-year. Total paying users increased to 3.5 million in the reported quarter, from 3 million a year earlier.

[1/2] Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., November 11, 2022. Stock sales reached $4.97 billion in the United States last week, the highest tally since the second week in 2022, according to data provider Dealogic. Globally, stock sales reached $12.3 billion, the most in more than 30 weeks. "Equity markets have regained some momentum and volatility has decreased, driving animal spirits on the buy side," said Santiago Gilfond, co-head of Americas equity capital markets at Credit Suisse Group AG (CSGN.S). A busy week for initial public offerings in early February offered some hope to stock market hopefuls, but advisors remain cautious as stocks sold off in recent weeks.

☆ Bumble positive on 2023 as user growth defies economic gloom
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

Bumble forecast 2023 revenue growth between 16% and 19%, the midpoint of which was higher than analysts' estimates of 16.97%, according to Refinitiv data. Revenue at Badoo and its other apps, which accounts for nearly one-fifth of the total, fell 11.9% to $50.8 million. The company also said it expects paying users will continue to drop at Badoo - which has a more economically sensitive user base and has a large presence in Western Europe. In the last three months of 2022, Bumble's total paying users increased to 3.4 million from 3 million a year earlier. Quarterly net loss widened to $159.2 million, or 85 cents per share, from $13.9 million, or 7 cents per share, a year earlier.

☆ Exclusive: Blackstone set to raise as much as $10 billion for tactical opportunities
▼ + stars: | 2023-02-23 | by ( Chibuike Oguh | ) www.reuters.com time to read: +2 min

NEW YORK, Feb 23 (Reuters) - Blackstone Inc (BX.N), the world's largest private equity firm, is set to raise as much as $10 billion for its tactical opportunities strategy, which gives it versatility to invest in a range of assets, people familiar with the matter told Reuters. Blackstone has amassed about $5 billion for the Blackstone Tactical Opportunities Fund IV, which was initially aiming to raise only $4 billion, Reuters previously reported. Blackstone has raised three previous tactical opportunities funds that cumulatively collected about $16.4 billion from investors since the first of them was first launched in 2012. The $6.7 billion Blackstone Tactical Opportunities Fund II and the Tactical Opportunities Fund III, which raised $4.09 billion, had generated a net internal rate of return of 14.1% and 11.7%, respectively, as of June last year, according to the California Public Employees' Retirement System. Blackstone's tactical opportunities division has about $34 billion in assets under management.

☆ Bumble confident on 2023 as user growth defies recession fears
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 22 (Reuters) - Bumble Inc (BMBL.O) projected full-year revenue growth for 2023 above market estimates on Wednesday as users continued to sign up to its dating app despite a looming recession, sending the company's shares up 6% in extended trading. For the full year 2023, Bumble forecast revenue growth between 16% and 19%, the midpoint of which is above analysts' estimate of 16.97%, according to Refinitiv data. In the last three months of 2022, Bumble's total paying users increased to 3.4 million, from 3 million a year earlier. The company reported revenue of $241.6 million for the quarter, compared with analysts' estimate of $235.9 million, according to Refinitiv data. Reporting by Samrhitha Arunasalam and Vansh Agarwal in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

The company gave a lackluster quarterly revenue forecast a day earlier that it blamed on a tough economy, a strong dollar and "significant" poor product execution at Tinder. The cuts have already taken place in the United States and are being implemented in other countries. "In addition to the cuts, we expect Match to place greater emphasis on marketing its Tinder and Hinge brands, core areas of growth for 2023," CFRA Research analyst Angelo Zino said. It forecast first-quarter revenue between $790 million and $800 million, lower than analysts' estimates of $817.3 million, according to Refinitiv data. The company also reported its first-ever quarterly revenue decline.

While a tough economy and a stronger dollar had also crimped its business, poor product execution at Tinder was the "significant" culprit, Match said. Match reaffirmed its 2023 revenue growth forecast of 5% to 10%. It expects revenue growth to reach double digits by the fourth quarter on increasing momentum in the second half. The company forecast first-quarter revenue between $790 million and $800 million, lower than analysts' estimates of $817.3 million, according to Refinitiv data. Revenue fell 2% to $786 million in the fourth quarter ended Dec. 31, also missing expectations of $787.3 million.

☆ Cramer's lightning round: I'm very concerned about Veru
▼ + stars: | 2023-01-06 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

Loading chart...Veru Inc : "I'm very concerned about it." I think we're going to have to take a major league pass." Suburban Propane Partners LP : "[The] propane market is historically, let's say, too volatile and erratic for me." Loading chart...Axon Enterprise Inc : "It's a terrific law enforcement package that I think is really good for everybody. Loading chart...Nuscale Power Corp : "If you want small, nuclear modular reactors, I'm going to have to say, the Constellation Energy group.

☆ Grindr Plans to Focus on Monetization, Subscription Prices After Going Public
▼ + stars: | 2022-11-17 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +6 min

The company will list on the New York Stock Exchange under a new name, Grindr Inc.Vanna Krantz, Grindr CFO. Ms. Krantz said she plans to review subscription prices, which currently start at $19.99 a month for paid accounts. Once the company is public, Ms. Krantz will be responsible for further building out Grindr’s finance function. Ms. Krantz said she would focus on further improvement when it comes to forecasting. The year-over-year loss was largely driven by one-time costs associated with going public, such as legal, consulting and audit fees, Ms. Krantz said.

Every line of the report shows sequential improvement," said Art Hogan, chief market strategist at B. Riley Financial. The report prompted traders to adjust their rate hike bets, with bets of a 50-basis point rate hike in December jumping to more than 70% from 45% before the data was released. Following last week's Fed policy meeting, some U.S. central bank officials have made comments that pointed to slower rate rises over coming meetings. The Fed's policy rate is currently in a range of 3.75%-4.00%. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, fell to a near two-month low of 23.94.points.

☆ Futures rise as focus shifts to inflation data
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures up: Dow 0.09%, S&P 0.17%, Nasdaq 0.31%Nov 10 (Reuters) - U.S. stock index futures inched higher on Thursday as investor focus turned to October inflation data for clues on the path of future interest rate hikes. Traders are split on whether a 50 basis points or 75 basis points rate hike by the Fed is likely in December. ET, Dow e-minis were up 29 points, or 0.09%, S&P 500 e-minis were up 6.5 points, or 0.17%, and Nasdaq 100 e-minis were up 33.25 points, or 0.31%. The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to 26.56 points, and was close to a weekly high. Reporting by Shubham Batra and Bansari Mayur Kamdar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Bumble shares tumble after weak fourth-quarter revenue forecast on forex hit
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

Bumble also faces competition from larger rival Match Group Inc (MTCH.O), which topped revenue estimates last week on the back of a jump in paying users for its flagship app Tinder. Bumble now expects current-quarter revenue between $232 million and $237 million, compared to Wall Street's estimates of $254.5 million, according to Refinitiv data. Earlier in March, Bumble said it is discontinuing operations in Russia, including the removal of all of its apps from Apple App Store and Google Play Store in Russia and Belarus. Bumble, which made its market debut in February 2021, said its total paying users increased to 3.3 million during the quarter. Reporting by Vansh Agarwal and Shreyaa Narayanan in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves after hours: Bumble, Rivian, Dutch Bros, FICO and more
▼ + stars: | 2022-11-09 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Bumble – The dating app company plummeted 15% after it reported third-quarter revenue below Wall Street's expectations, according to StreetAccount. FICO – Shares of the analytics company jumped 10% after it beat StreetAccount's expectation for per-share earnings and revenue when reporting fourth-quarter earnings after the bell. ZipRecruiter – The stock popped nearly 15% after the job marketplace beat StreetAccount's estimates for third-quarter per-share earnings and revenue. Dutch Bros – Shares of the coffee chain added 5% after Dutch Bros posted beats on the top and bottom lines, according to Refinitiv. Canoo – The stock added 3.4% after the electric vehicle company posted smaller per-share earnings and adjusted EBITDA losses than expected, according to StreetAccount.

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