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☆ Earnings will drive the market next week — what we expect from 2 portfolio stocks
  + stars: | 2024-05-04 | by ( Zev Fima | ) www.cnbc.com   time to read: +10 min
With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho
☆ African online retailer Jumia's Q3 losses narrow with further fall expected
  + stars: | 2023-11-15 | by ( ) www.reuters.com   time to read: +2 min
Workers are seen inside an Africa-focused tech startup Jumia Technologies, pickup station in downtown central business district in Nairobi, Kenya November 16, 2021. REUTERS/Monicah Mwangi/File Photo Acquire Licensing RightsJOHANNESBURG, Nov 15 (Reuters) - African e-commerce firm Jumia Technologies said on Wednesday that cost savings had helped it reduce third quarter losses by 67% from a year earlier, with a further sharp drop expected this year. It now expects an adjusted 2023 EBITDA loss of $80 million to $90 million compared to the previously communicated range of $90 million to $100 million. Quarterly active consumers fell 24.3% to 2.3 million, largely driven by deliberate decisions to focus on core categories and reduce consumer incentives. Inflation effects persisted in the period, affecting both consumers' spending power and sellers' ability to source goods from abroad, Jumia said.
Persons: Monicah, Jumia, Francis Dufay, Nqobile Dludla, Kirsten Donovan Organizations: Technologies, REUTERS, Rights, Jumia Technologies, New York Stock Exchange, Revenue, Thomson Locations: Africa, Nairobi, Kenya, Rights JOHANNESBURG
☆ Nigeria launches $672 million tech fund for young investors
  + stars: | 2023-03-14 | by ( ) www.reuters.com   time to read: +1 min
LAGOS, March 14 (Reuters) - Nigeria launched a $672 million fund on Tuesday to support tech and creative sectors for young investors who struggle to raise capital in Africa's largest economy. So far only Chipper Cash, a cross border payments startup, has said it had $1 million in SVB. Vice President Yemi Osinbajo launched the $672 million fund under the Digital and Creative Enterprises Programme (DCEP) in the federal capital Abuja, the presidency said in a statement. African Development Bank will put in $170 million, $116 million will come from Agence Francaise de Developpement and another $70 million from Islamic Development Bank, the presidency said. The government through Bank of Industry Nigeria will release $45 million while the private sector pledged $271 million.
☆ African online retailer Jumia's Q4 losses narrow on cost savings
  + stars: | 2023-02-16 | by ( ) www.reuters.com   time to read: +1 min
JOHANNESBURG, Feb 16 (Reuters) - African e-commerce firm Jumia Technologies said on Thursday that cost savings had helped it reduce fourth quarter losses by 30% from a year earlier, with a further sharp drop expected this year. The group cut more than 900 jobs in the fourth quarter and also significantly reduced its presence in Dubai, relocating most of its remaining staff to its African offices. "We expect these headcount reductions to allow us to save over 30% in monthly staff costs starting from March 2023, as compared to the October 2022 staff cost baseline," Jumia said. It also significantly reduced its sales and advertising expenditure, by 41% year on year. Reporting by Nqobile Dludla; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.
☆ African e-commerce firm Jumia says it is past peak losses, shares jump
  + stars: | 2022-08-10 | by ( Bhargav Acharya | ) www.reuters.com   time to read: +2 min
Aug 10 (Reuters) - African e-commerce firm Jumia Technologies said on Wednesday it was past peak losses and would focus on promotions, marketing and cost cutting in its quest towards profitability, driving its shares up 16% despite a wider quarterly loss. Jumia is an online marketplace for vendors and food sellers, with associated services including logistics and payments. Jumia still expects a full-year adjusted EBITDA loss of $200 million-$220 million, but it reduced its full-year capital expenditure guidance to $10 million-$15 million from $15 million-$25 million. Its quarterly active consumers rose 25% to 3.4 million, while total revenue for the quarter reached $57.3 million, up 42.5%. "If they were to enter those markets, ... it would be a great validation of the attractiveness of e-commerce in Africa," he said.
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