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Zoom Video Communications — The software stock added nearly 2% ahead of its third-quarter earnings due after market close. The Professional Fighters League announced on Monday that it completed its acquisition of mixed martial arts brand Bellator from Paramount. Penn Entertainment — The gambling stock jumped 7% on the heels of a Bank of America upgrade to buy from neutral. Boeing — The aerospace stock jumped 4% after Deutsche Bank upgraded the shares to a buy rating from hold. Chegg — Shares of the education technology company dropped 5% following a downgrade to underweight from equal weight by Morgan Stanley.
Persons: Wells, Sam Altman, Greg Brockman, Raymond James, Morgan Stanley, Krispy Kreme, Iovance, Goldman Sachs, Terri Kelly, Kelly, Peter Grom, , Alex Harring, Yun Li, Lisa Kailai Han, Sarah Min, Michelle Fox Organizations: Communications, FactSet, Paramount, Professional Fighters League, Bellator, Penn Entertainment, Bank of America, ESPN Bet, Spectrum Brands, Microsoft —, Microsoft, Nvidia, Boeing, Deutsche Bank, JPMorgan, Caterpillar —, HSBC, United Rentals — United Rentals, Bristol Myers, Energizer Holdings, UBS, RBC Capital Markets Locations: FactSet
Check out the companies making the biggest moves in premarket trading: Boeing — The aerospace stock added 1.5% following an upgrade to buy from hold by Deutsche Bank. PENN Entertainment — The gambling stock popped 4.4% on the back of a Bank of America upgrade to buy from neutral. The Food and Drug Administration won't be able to meet to make a decision by the target date of Dec. 16. Krispy Kreme — Shares of the doughnut chain slipped 1.8% following a downgrade by JPMorgan to neutral from overweight. Vale — U.S.-listed shares of the Brazil-based metal and mining company added 2.6% following an upgrade by Bank of America to buy from neutral.
Persons: Sam Altman, Cantor Fitzgerald, Bristol Myers, Krispy, Krispy Kreme, Goldman Sachs, Iovance, Morgan Stanley, Terri Kelly, Kelly, , Sarah Min, Alex Harring, Michael Bloom Organizations: Boeing, Deutsche Bank, Microsoft, PENN Entertainment, Bank of America, ESPN Bet, Myers, Drug Administration, Bristol, JPMorgan, Bros, Rentals, United Rentals Locations: Bristol, Vale — U.S, Brazil
Check out the companies making headlines in premarket trading. Cisco Systems — Shares tumbled nearly 11% during premarket trading on the back of the company's earnings guidance for the current quarter, which fell below analyst estimates. Palo Alto Networks — Shares slid more than 6% after Palo Alto Networks issued a weaker-than-expected billings forecast for the current quarter and full year. Tencent Music Entertainment — Shares climbed slipped 1.4% in premarket trading following quarterly earnings that missed the mark. StoneCo — The fintech company added 1.2% during premarket trading after Bank of America upgraded shares to buy from neutral.
Persons: StoneCo, Mario Pierry, — CNBC's Michelle Fox, Brian Evans, Sarah Min Organizations: Walmart, LSEG, Revenue, Cisco Systems, Cisco, Palo Alto, Palo Alto Networks, billings, Citi, Tencent, JPMorgan, Goodyear Tire, Deutsche, Goodyear, Bank of America
Affirm posted $496.5 million in revenue, more than the $444.5 million consensus estimate, according to FactSet. It posted adjusted per-share earnings of $8.03, greater than the consensus estimate of $7.55, according to FactSet. The media conglomerate expanded its cost-cutting measures by $2 billion, and reported stronger-than-expected adjusted earnings for the fiscal fourth quarter. Becton, Dickinson and Company — Shares dropped more than 8% after Becton, Dickinson and Company reported disappointing quarterly earnings. The medical technology company posted adjusted earnings of $3.42 per share, lower than the $3.43 per share anticipated by analysts polled by LSEG, formerly Refinitiv.
Persons: Duolingo, Valaris, FactSet, Dickinson, Krispy Kreme, Amylyx, CNBC's Lisa Han, Alex Harring, Hakyung Kim Organizations: . Virgin Galactic Holdings, TransDigm, — Aerospace, TransDigm Group, Disney —, Disney, Barclays, Arm, Company, LSEG, Revenue, AMC Entertainment, Pharmaceuticals
Expedia — Shares surged 17% during midday trading Friday, a day after the vacation booking platform delivered a stronger-than-expected earnings report for the third quarter. Analysts polled by LSEG forecasted earnings of $4.93 per share and $3.86 billion in revenue. Paramount Global — The media conglomerate stock climbed 12% after reporting a third-quarter earning s beat on the top and bottom line. On Thursday, the company reported an adjusted 30 cents per share on $7.13 billion in revenue, while analysts polled by LSEG forecast 10 cents and $7.10 billion. The company reported revenue of $285.9 million against estimates from analysts polled by FactSet of $275 million.
Persons: Expedia, Bill Holdings, KeyBanc, DraftKings, Carl Icahn, Insulet, Gartner, FactSet, , Jesse Pound, Hakyung Kim, Alex Harring, Darla Mercado Organizations: LSEG, Apple, Paramount Global, Wall, FactSet, Revenue, Bank of America, Citi, JPMorgan Chase —, JPMorgan, Gartner, Lionsgate Entertainment, CNBC, Starz, Lionsgate Locations: CashApp
Starbucks — Shares jumped 9.5% after the company posted an earnings and revenue beat in the fiscal fourth quarter. Palantir also raised its revenue guidance to between $2.216 billion and $2.22 billion for the full year. Clorox — Shares rallied more than 6.6% Thursday after the company posted an earnings and revenue beat in the fiscal first quarter. CyberArk's fourth-quarter and full-year earnings guidance also came in above analysts' estimates. Management lowered the company's full-year earnings, revenue and operating margins guidance.
Persons: Roku, SolarEdge, Shopify, Palantir, LSEG, Eli Lilly —, , Penn, Morgan Stanley, CyberArk's, Papa John's, Sarah Min, Yun Li, Michelle Fox, Pia Singh, Alex Harring Organizations: Starbucks —, Management, Truist, BMO Capital Markets, Guggenheim, Moderna —, Moderna, Penn Entertainment, ESPN, Amazon Business, Marriott, Rockwell Automation — Rockwell Automation Locations: China, America
Insulet — Shares added nearly 10% after beating both earnings and revenue estimates in the third quarter. Revenue came in at $432.7 million, while analysts polled by FactSet anticipated revenue of $414.3 million. Expedia — Stock in the travel booking company surged 9% after beating both revenue and earnings estimates in the third quarter. Paramount Global — The media conglomerate stock ticked up nearly 6% following a third-quarter earnings beat . Floor & Decor Holdings — The flooring retailer slipped more than 15% after missing third-quarter revenue forecasts.
Persons: FactSet, Apple, Expedia, LSEG, Block, Fortinet, Carvana, DraftKings, Darla Mercado, Scott Schnipper Organizations: LSEG, Revenue, Apple, Paramount Global, Paramount, Holdings, FactSet
"The unknown is hard to transact in," Sam Powers, the global head of technology, media, and telecommunications for Bank of America, told Insider. Microsoft's $69 billion acquisition of Activision , which was completed Thursday, has also put media and tech M&A back in the spotlight. "People have been holding their breath in nervous anticipation" about the idea of tech buying big media , one investor told Insider. Private-equity bets on media and Hollywood have seen mixed resultsPrivate-equity firms may have the cash to finance major media acquisitions, but they're reckoning with market volatility. Are you a Hollywood insider?
Persons: Hollywood dealmakers, Jonathan Handel, Sam Powers, Bob Iger, , Byron Allen, Greg Doherty, Iger, Disney's, Byron Allen —, Allen, Disney, it's, Handel, It's, you've, Reese Witherspoon, Dave Kotinsky, Moonbug, Reese Witherspoon's, Jeff Zucker, Abu, Tom Staggs, Kevin Mayer, Lucia Moses, Reed Alexander Organizations: Hollywood, Puck News, Bank of America, SAG, Writers Guild of America, Disney, ESPN, Activision, Byron Allen The Weather, Wall Street shareholders, Bureau of Labor Statistics, Hulu, ABC, Nexstar Media Group, Allen Media Group, Weather, Lionsgate, Starz, Paramount, BET, Warner Bros, Games, Disney Digital Network, Maker Studios, Observers, Comcast, Paramount Global, Tech, MGM, Microsoft, Netflix, Apple, RedBird Capital Partners, RedBird IMI, Private, SP, G Global Market Intelligence, Bloomberg, Media, Apollo Global Management, Yahoo Locations: Hollywood, Blackstone, Abu Dhabi, lmoses@insider.com, ralexander@insider.com
"Beyond Utopia" attracted interest at Sundance from streamers like Amazon's Prime Video and Netflix. Interest peaked four years ago at the Sundance Film Festival, fueled by Amazon and Netflix, which paid a record $10 million for the Alexandria Ocasio-Cortez doc "Knock Down the House." In the crime realm, WME advised, Netflix was seeking films based on big, well-known cases and scams like "Dahmer" and "Tinder Swindler." Filmmakers point to streamers' self-censorship and 'cold feet' over sensitive topicsSome filmmakers said there are still champions at the streamers for documentaries that push the envelope. "Beyond Utopia" is among a number of recent films that have been snubbed by the big streamers, despite winning awards and buzz.
Persons: Madeleine Gavin, It'll, It's, Gavin, Hulu, Peter Broderick, Hulu didn't, Sundance fests, Broderick, WME, Dahmer, Ted Hope, Hope, Vanessa Hope, Taiwan's, he'd've, Oscar, Bryan Fogel, Jamal Khashoggi, Thom Powers, it's, Keith Ochwat, Ochwat Organizations: Sundance, Netflix, PBS, Sundance Film, Amazon, Alexandria, Paradigm Consulting, Amazon Prime, Apple, Hulu, Hollywood, Gravitas Ventures, & $ Locations: Joy, Congo, arthouses, Hulu, China, Park City, Syria, Russian, Ukraine, Venice
Trying to maintain a career in Hollywood was "not something that was feasible for me to continue," this person told Insider. Insider spoke with eight current and former assistants at Hollywood companies, plus a former creative executive at a midsize film studio. Many hopefuls can't find jobs in an industry that's been wracked with head count reductions and budget cuts. Netflix's website lists just one open assistant job — a role in a non-creative vertical. At Paramount, which cut 25% of staff from its US cable networks earlier this year, there appear to be no open executive assistant jobs in entertainment capacities .
Persons: , strivers, that's, David Heger, Edward Jones, Heger, Bob Iger —, there's, WBD, they've, they'd, I'm, Reed Alexander Organizations: Hollywood, Netflix, Paramount Global, Disney, Warner Bros . Discovery, Paramount, Media, Writers Guild of America, Challenger, Warner Bros, Discovery, Entertainment Locations: Hollywood, Los Angeles and New York
Check out the companies making headlines in midday trading. Sphere Entertainment — Shares of the media and entertainment company climbed 11.1% in midday trading after a U2 show debuted its Las Vegas Sphere venue Friday night. Bitcoin stocks — Stocks tied to digital currency trading advanced in lockstep with a rally in crypto prices. Instacart — Maplebear, the food delivery company doing business as Instacart, fell 9.2% in midday trading. The Wall Street bank said investors should buy the dip after the stock's underperformance in the first half of 2023.
Persons: — Stocks, MicroStrategy, , — Maplebear, Gordon Haskett, Insulet, Jefferies, Goldman Sachs, Goldman, Truist, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox, Sarah Min, Scott Schnipper Organizations: Madison Square Garden, , Riot, Marathon, Discover Financial, U.S . Securities, Exchange, Federal Deposit Insurance Corporation, Coeur Mining, Hecla Mining, Harmony, Mining, Gold Resource, Barclays, Norfolk Southern, Bank of America, Nvidia —, Nvidia, Apple, JPMorgan, UBS Locations: Las Vegas, lockstep, Coeur, Wall
Sphere Entertainment — The stock jumped more than 7% after the entertainment and media company opened its Sphere venue in Las Vegas with a show from U2 on Friday night. Insulet — Shares gained 3.4% in premarket trading. Sunnova Energy International — UBS initiated coverage of the solar company with a buy rating, sending shares up 1.5% in premarket trading. Clorox — The consumer products company rose 3.3% in premarket trading after D.A. AMC Entertainment — Shares of the entertainment company moved up 2% before the bell after it announced that Renaissance: A Film by Beyoncé, would be distributed in the U.S. in December.
Persons: Jefferies, Sunnova, Clorox, Davidson, Beyoncé, Goldman Sachs, Chubb —, — CNBC's Michelle Fox, Lisa Han, Jesse Pound Organizations: ISI, Rivian Automotive, Sunnova Energy, — UBS, AMC, SolarEdge Technologies, Barclays, Nvidia, FedEx, Susquehanna, JPMorgan, Chubb Limited Locations: Las Vegas , Nevada, United States, Las Vegas, U.S
Mario called Tupac. All he could do was listen to her cry as he explained that he didn't know when he'd be back. He didn't speak Spanish, didn't know a soul in Mexico, and had no clue where he would be sent. Mario didn't ask why, and the guy didn't inquire about Mario's predicament. "It's all good, man," Mario told Jimmy.
Persons: Mario Rosemond, Rosemond, Jimmy, Mario, Akon, Sean Kingston, Gucci Mane, Jimmy Rosemond —, Lowell, Lodi Mack, Fletcher, Tupac Shakur, Tupac, Biggie Smalls, Jimmy Rosemond, Saul Goodman, Tommy Davis, Mario stammered, It's, Jimmy Jr, Andrea, Constantin, Johnny Nunez, Rikers, , Slick, Russell Simmons, Benny Medina, Lyor Cohen, Chris Lighty, Mona Scott, Mark Sparks, Shoop, Paul Bergen, Bryce Wilson, Wilson, Mohammed, Tef, Stewart, Little Shawn, Puff Daddy, Pac, Freddie Moore, Moore, Al Pereira, would've, Jimmy wasn't, They'd, didn't, Jimmy didn't, ­ —, Mike Tyson, Lennox Lewis, Wyclef Jean, Garland, Cyrus, THONY BELIZAIRE, Mariah Carey, LL, Missy Elliott, Cent, Tef Stewart, Jimmy Rosemond Jr, Jimmy Sr, Khalil Abdullah, Jimmy Iovine, determinedly, DJ Skee, Mario couldn't, Mario chuckles, he'd, GummyBone, Mario didn't, I'm, freckling, he's, isn't, I've, Jim Brown, Michael K, Williams, Donald Trump, Arturo Holmes, Scott Olson, Trump, Brown, James Rosemond Jr, David Kushner Organizations: FBI, Entertainment, Justice Department, Bronx ., Quad Studios, AP, grandad, Wall, Black Panthers, Junior Mafia, Hollywood, Haiti, Management, Apollo, Lowell, Racing, Interscope Records, Interscope, Feds, Department of Motor Vehicles, DMV, Colombian, York Post, Drug, Administration, NFL, Trump, Stone, Atari Locations: Mexico, Haiti, Brooklyn, Bronx, Cuernavaca, Spanish, Rahway , New Jersey, Port, New York City, Vanderveer Estates, East Flatbush, Rikers, Islam, Miami Beach, New York, New Jersey, East Coast, West Coast, Plainfield , New Jersey, Brandy, Los Angeles, Czar's, Harlem, LA, California, Beverly Hills, San, Tijuana, Mexico City, Colombian, San Diego, Manhattan
That's odd, she thought, then toggled over to Facebook to search for clues about the issue on a group for MGM Resorts International loyalty members. There, she learned that the largest casino owner in Las Vegas had fallen victim to a cybersecurity breach. The situation entered its sixth day on Friday, with booking capabilities still down and MGM Resorts offering penalty-free room cancelations through Sept. 17. The security attacks that triggered an FBI probe shatter a public perception that casino security requires an “Oceans 11”-level effort to defeat it. It's true, Kim said, that casino giants like MGM Resorts and Caesars are protected by sophisticated — and expensive — security operations.
Persons: Dulce Martinez, Martinez, “ It’s, , Brian Ahern, Yoohwan Kim, Kim, ” Kim, Tony Anscombe, ESET, cybercriminals, ” Anscombe, , ” ___ Parry, Ty O'Neil Organizations: LAS VEGAS, Facebook, MGM Resorts International, MGM Resorts, Associated Press, Entertainment, University of Nevada, Caesars, San, Las, MGM, UNLV, Associated Locations: Las Vegas, Los Angeles, San Diego, Atlantic City
Striking Writers Guild of America members walk the picket line in front of Netflix offices in Los Angeles, July 12, 2023. Check out the companies making headlines in midday trading:Visa — The credit card behemoth's stock was trading more than 2% lower after announcing plans to change its share structure. Netflix — The streaming giant's shares slipped roughly 2% in midday trading after Chief Financial Officer Spencer Neumann said the ongoing Hollywood writers' strike is bad for business. The movie theater chain said it sold 40 million shares at an average price of $8.14, raising about $325.5 million. Etsy — The e-commerce retailer's stock rose nearly 3% after Wolfe Research upgraded Etsy to outperform from a peer perform rating, citing improving consumer spending and margins.
Persons: Semtech, Spencer Neumann, Neumann, Warren, Berkshire Hathaway, , Samantha Subin, Pia Singh, Alex Harring Organizations: Guild of America, Netflix, Visa, FactSet, Penn Entertainment, Deutsche Bank, Penn, ESPN BET, AMC Entertainment, AMC, Wolfe Research, HP, Exxon Mobil, Chevron —, Exxon, Chevron Locations: Los Angeles, U.S, China
AMC Entertainment — Shares of the movie theater chain jumped 5% in premarket trading after AMC said it had completed the equity offering it announced earlier this month. The company said it sold 40 million shares at an average price of $8.14, raising about $325.5 million. In the second quarter, the company earned 11 cents a share, after adjustments, exceeding analysts' expectations of 2 cents per share, according to FactSet. Penn Entertainment — The sports betting stock climbed 3% in premarket trading following a short-term buy call from Deutsche Bank. The conglomerate sold about 5.5 million shares of HP, worth around $158 million.
Persons: Wolfe, Semtech, Warren Buffett's Berkshire Hathaway, Shawn Fain, Jim Farley, — CNBC's Michelle Fox, Alex Harring, Yun Li, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: AMC, Wolfe Research, Penn Entertainment, Deutsche Bank, BMO Capital Markets, Exxon Mobil, Chevron, Brent, Occidental Petroleum, HP —, HP, Berkshire, General Motors, Ford —, United Auto Workers, Ford Locations: China, Devon, Omaha
The Hollywood strikes thrust Parrot Analytics, which measures film and TV demand, into the spotlight. Parrot Analytics, a decade-old research firm, has in recent years built a complicated reputation in Hollywood with its proprietary system for measuring audience interest in films and TV shows. As streaming consumption skyrocketed and companies like Netflix kept audience data under wraps, Parrot offered one of the few apples-to-apples measurements across different series and films. Some producers and agents say Parrot has brought much-needed transparency to content measurement. "Parrot Analytics would reward quite a few shows that weren't the most viewed shows in America," he wrote.
Persons: Wared Seger, Seger, Parrot, he's, Seger's, Nielsen, Discovery's Max, Julia Alexander —, , It's, HBO's Casey Bloys, Avalon, Jon Thoday, Matthew Ball, shouldn't, Guy, aren't, it's Organizations: Hollywood, Netflix, SAG, Alliance, Producers, ABC, Nielsen, Disney, CAA, Amazon's, Writers Guild of America, Warner Bros, Amazon Studios Locations: Hollywood, LA, Seger, New Zealand, Boston, America
Seagate Technology — Seagate Technology shares dropped about 10.9% after Barclays downgraded the stock to equal weight form overweight. ChargePoint Holdings — Shares of ChargePoint Holdings plunged 10.9% after the electric vehicle charging infrastructure company missed fiscal second-quarter revenue estimates. ChargePoint posted $150 million in revenue, weaker than the $153 million forecast by analysts polled by LSEG, formerly known as Refinitiv. Meanwhile, C3.ai reported an adjusted fiscal first-quarter loss of 9 cents per share on revenue of $72.4 million. Verint Systems — Shares plunged 19.4% in midday trading after the analytics company reported weaker-than-expected second-quarter earnings and revenue.
Persons: Rollins —, ChargePoint, LSEG, StreetAccount, Roku, , Alex Harring, Yun Li, Pia Singh Organizations: Europe's, Kappa, Wall Street, GameStop, Wall, — Semiconductor, Lam Research, Devices, Qualcomm, Nvidia, Intel, Apple, Bloomberg, Street Journal, Technology, Wednesday, Seagate Technology, Barclays, ChargePoint Holdings, LSEG, Buster's Entertainment, Loop Locations: China
Roku also boosted its third-quarter revenue guidance to between $835 million and $875 million, versus prior guidance of $815 million. AMC Entertainment — Shares tumbled 36.8% after AMC said it plans to sell up to 40 million new shares to raise cash. The issuance of additional shares was expected after it converted preferred APE shares into AMC common stock in August. Revenue also beat expectations, coming in at $152 million, versus the $129 million expected. Harley-Davidson — The motorcycle maker gained 3.16% after it authorized the repurchase of up to an additional 10 million shares.
Persons: Roku, Tesla, Elon Musk, Apple, AeroVironment, Thoma Bravo, Davidson, Zscaler, LSEG, Wall, Dexcom, , Macheel, Alex Harring, Michael Bloom Organizations: Street, SpaceX, Twitter, AMC, Journal, Bank of America, LSEG, Revenue, Healthcare, Dominion Energy, Dominion, Southwest Airlines —, Southwest Airlines Locations: Virginia, China, Enbridge, Southwest
Mattel's Barbie is just one of many big brands getting serious about making Hollywood-style entertainment. "Barbie" may be the movie of the summer, but lots of other big brands are getting serious about making Hollywood-style entertainment. Brands are also getting more systematic about tracking the projects' outcome so they can justify the cost. Neutrogena: Neutrogena Studios launched in 2021 and is J&J Consumer's first brand-funded content studio to make feature documentaries and scripted shorts. Showtime/PepsiPepsiCo: PepsiCo's Content Studio is led by veteran PepsiCo marketer Lou Arbetter.
Persons: Barbie, Ron Howard, Brian Grazer's, Oscar, Michael Sugar, Brian Newman, REI, Michael Sugar's, Jae Goodman, Lauren Denowitz, Coke, Brian Grazer, Ron Howard's, Selman Careaga, John Deere, Mara Downing, Al Roker, Jill Wilfert, Robbie Brenner, J.J, Abrams, Lena Dunham, Barney, Daniel Kaluuya, J, Sebastian Garcia, Laurie Hernandez, Matt Damon, Ben Affleck's, Entertainment —, Justin Biskin —, Howard, Lou Arbetter, Max, Robert Rodriguez, Nadia Hallgre, Stanley Nelson, Arbetter, It's, Procter, Kimberly Doebereiner, Paolo Mottola, Kyra Sedgwick, Watiti, Saint Laurent, Anthony Vaccarello, Saint, Pedro Almodóvar, Ethan Hawke, Pedro Pascal, it's, Paolo Sorrentino, David Cronenberg, Kelly Mullen, Bryce Dallas Howard, Lena Waithe, WePresent, Holly Fraser, Moses Sumney, Solange Knowles, Riz Ahmed, Aneil, Fraser Organizations: Hollywood, Procter, Gamble, Brands, Unilever, InBev, Waffle Iron Entertainment, draftLine Entertainment, Netflix, Coca Cola, Entertainment, Global, Deere, Warner Bros, Warner Brothers, Universal Studios, Mattel, Neutrogena Studios, Studio, Kerry, Seattle Film, Ghetto Film, HBO Nike, Nike, Waffle, Apple, HBO, Showtime, Pepsi PepsiCo, PepsiCo, Pepsi Super, Pepsi, G Studios, Imagine, Amazon's, Hulu, Paramount, Blue Fox Entertainment, Saint Laurent Productions, Unilever Entertainment, Imagine Entertainment, Monotype Locations: Hollywood, Kerry Washington, American, Cannes, Britain
Marvell posted earnings of 33 cents per share, excluding items, on $1.34 billion in revenue. For the recent period, Affirm posted a smaller-than-expected loss of 69 cents per share on revenues of $446 million. Intuit posted $2.71 billion in revenue, ahead of the $2.64 billion expected. Analysts polled by Refinitiv had anticipated earnings of $5.85 per share on $2.51 billion in revenue, according to Refinitiv. Adjusted earnings per share came in at 34 cents, ahead of the 9 cents expected by analysts polled by Refinitiv.
Persons: Marvell, Refinitiv, Nordstrom, Ulta, Alan Gould, , Jesse Pound, Sarah Min, Michelle Fox Organizations: Marvell Technology, Hawaiian Electric, Electric, NBC News, Intuit —, Refinitiv, Intuit, AMC Entertainment, Netflix Locations: Maui
Check out the companies making the biggest moves midday:Nordstrom — The department store retailer sank 8.6% even after topping fiscal second-quarter earnings and revenue expectations. Earnings came in 40 cents ahead of the 44 cents expected by analysts polled by Refinitiv. Revenue was $1.79 billion, versus the $1.77 billion expected. Gap's revenue was $3.55 billion, below the $3.57 billion expected. Earnings per share came in at 33 cents for its second quarter, versus the 32 cents expected, according to Refinitiv.
Persons: Nordstrom, Ulta, Morgan Stanley, Yun Li, Hakyung Kim, Alex Harring, Samantha Subin, Michael Bloom Organizations: Refinitiv, Hawaiian, National Weather Service, NBC, Hasbro, Bank of America, Revenue, Intuit —, Refinitiv . Revenue, Marvell Technology, Marvell, Analysts, AMC Locations: Maui, Refinitiv
Sports betting and gambling companies have raised $150 million from VCs so far in 2023, according to PitchBook data. US sports betting and gambling startups have raised about $150 million in VC funding through mid-August of this year, per PitchBook, which tracked 25 deals during that time frame. Here are the top 11 companies that have gotten the most funding in 2023 through mid-August, according to PitchBook:1) Jackpot.com — $42 million. The more than 50-year-old casino technology and data company closed the investment from VCs. Oddsworks, a gaming company offering more than 100 games for online and land-based casinos, raised early-stage funding.
Persons: Joey Levy, Jake Paul, Roger Ehrenberg's, James Harden, Joel Embiid, PlayerProfile, Oddsworks Organizations: Roger Ehrenberg's Eberg Capital, Arctos Sports Partners, Bettor, Courtside Ventures, Dallas Cowboys, New York Yankees, Acres, Exchange, Boom Entertainment, Oyster Ventures, Touchdown Ventures, Eberg, IA Sports Ventures, Ikigai Ventures, Trinity West Ventures Locations: VCs
Check out the companies making headlines before the bell:Capri , Tapestry — Capri soared more than 57%, while Tapestry slid 3.2% in premarket trading. AppLovin — AppLovin shares popped 25.8% in early morning trading after the company posted strong second-quarter results and optimistic third-quarter revenue guidance. The game developer said it expects $780 million to $800 million in revenue for the third quarter, exceeding the $741 million expected by analysts. AppLovin reported earnings of 22 cents per share for the second quarter, while analysts expected 7 cents, according to Refinitiv. The amusement park company reported earnings of 25 cents per share on revenue of $444.0 million.
Persons: Kate Spade, Versace, Jimmy Choo, Michael Kors, AppLovin, Sonos, Refinitiv, Walt Disney, — Illumina, Yun Li, Jesse Pound, Pia Singh Organizations: Capri Holdings, Capri, Wynn, Wynn Resorts, Walt Disney —, Disney, Six Locations: Alibaba, China
AppLovin said it anticipates revenue to range between $780 million and $800 million, ahead of the $741 million expected by analysts, per Refinitiv. Alibaba — U.S.-traded shares rose 4.3% Thursday after the Chinese company beat analysts' expectations and posted its biggest year-over-year revenue growth since 2021. In the June quarter, the company posted revenue of 234.16 billion yuan versus 224.92 billion yuan expected, per Refinitiv. Earlier this week, Fleetcor posted adjusted earnings of $4.19 per share on revenue of $948.2 million. Analysts polled by FactSet called for earnings of $4.17 per share on revenue of $945 million.
Persons: Kate Spade, AppLovin, Alibaba, Versace, Jimmy Choo, Michael Kors, Wynn, Refinitiv, Jefferies, Truist, Nick McKay, Fleetcor, FactSet, — CNBC's Brian Evans, Hakyung Kim, Samantha Subin, Jesse Pound, Yun Li, Alex Harring Organizations: Disney —, Disney, Capri Holdings, Capri, Wynn, , Penn Entertainment, Disney's ESPN, Wedbush Locations: Marina, Sands, Singapore, Alibaba —, Wednesday's
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