The former head of the People’s Bank of China, Yi Gang, emphasized the importance of focusing on boosting domestic demand in China during the Bund Summit in Shanghai. He highlighted the need to address deflationary pressures by improving domestic demand and effectively managing challenges such as the real estate market and local government debt issues.
Earning
One of the companies making headlines in premarket trading is C3.ai, which saw a significant tumble of 19.2% due to weaker-than-expected subscription revenue during the fiscal first quarter. This resulted in the company posting $73.5 million for the top line, falling short of the $79.2 million that analysts had anticipated. This demonstrates the importance of
Travel spending among American households has shown a significant increase post-pandemic, with international trips being a key contributor to this trend. According to economists Taylor Bowley and Joe Wadford from the Bank of America Institute, travel spending remains much higher than pre-pandemic levels, with a 10.6% increase per household. This surge in spending is supported
When it comes to dividend-paying stocks, EPR Properties stands out as a top choice in the real estate investment trust (REIT) sector. EPR focuses on experiential properties such as movie theaters, amusement parks, eat-and-play centers, and ski resorts. This unique niche sets it apart from traditional real estate companies, offering investors exposure to different facets
The recent tumble in PDD’s stock price highlights the changing landscape of China’s consumer market. The era of double-digit growth seems to be a thing of the past, with signs of a prolonged slowdown on the horizon. Despite this overarching trend, it’s important to note that not all companies are facing the same challenges. While
Dell reported its quarterly results, exceeding Wall Street’s expectations with a significant increase in server sales. The company’s revenue for the fiscal second quarter stood at $25.03 billion, surpassing the estimated $24.53 billion. The earnings per share (EPS) also outperformed predictions at $1.89 adjusted, compared to the anticipated $1.71. This positive outcome led to a
Intel, the chipmaker, saw its stock price surge by 8.5% following news of the company’s collaboration with bankers to explore options to address weaknesses in its core business. This strategic review has instilled confidence in investors, resulting in a positive market reaction. Conversely, Elastic NV’s stock plummeted over 27% after its fiscal second-quarter revenue forecast
As the Labor Day weekend approaches, the summer box office is set to wrap up slightly below previous years, with a projected total revenue of $3.6 billion according to Comscore. This marks a significant drop from the $4.09 billion collected in the summer of 2023. The main reason behind this decrease can be attributed to
CNBC TV’s producers closely monitored the tech earnings parade on Thursday, with a particular focus on Marvell Technology. The stock surged about 8% after hours following better-than-expected revenue and a strong forecast for the latest quarter. Despite this positive news, Marvell is still down 18% from its March high. Interestingly, Marvell is the 17th biggest
Dollar General experienced a sharp decline in its stock value, nearly 30%, after announcing a reduction in sales and profit guidance for the year. CEO Todd Vasos attributed the weaker sales to financially constrained core customers. This news not only affected Dollar General but also led to a 9% drop in shares for competitor Dollar
American Eagle has once again fallen short of Wall Street’s sales targets for the second consecutive quarter. Despite this disappointing news, the company reported a significant increase in profit of nearly 60%, largely attributed to lower product costs. The market responded negatively to this news, with the company’s shares dropping more than 8% in early
The tech and chip-related stocks in Asia took a hit on Thursday following the announcement of Nvidia’s second-quarter results. Companies with direct links to the U.S. tech giant, such as South Korean chipmakers SK Hynix and Samsung Electronics, experienced significant losses. SK Hynix, known for manufacturing high bandwidth memory chips used in AI applications for
As investors in Asian markets prepare for the day ahead, the prevailing mood is one of caution. This caution is driven by two main factors – concerns about the health of the U.S. economy and anticipation of Nvidia’s earnings report later in the day. While U.S. and world stocks saw slight gains on Tuesday, the
The World Robot Conference in Beijing showcased a plethora of humanlike robots, with 27 debuting at the event, a new record. There is a rush in China towards the development of humanlike robots, with investments exceeding 100 billion yuan in the last decade. These robots are being designed to perform a wide range of tasks