Rivian Automotive experienced a significant boost in its stock price, soaring more than 40% after securing up to $5 billion in funding from Volkswagen Group. This initial investment of $1 billion, with an additional $4 billion expected by 2026, signaled a major vote of confidence in Rivian’s potential within the electric vehicle market. The surge
Earnings
General Mills, Inc. reported a mixed bag in its fourth-quarter earnings, surpassing Wall Street’s earnings per share (EPS) expectations by a cent but falling short on revenue targets. The food giant posted adjusted EPS of $1.01, slightly higher than the analyst consensus of $1.00. However, revenue for the quarter was reported at $4.71 billion, missing
Disney/Pixar’s Inside Out 2 is set to have a strong third weekend at the box office, with expectations ranging from $55 million to $60 million in domestic earnings. The film is on track to potentially surpass the final domestic gross of Illumination/Universal’s Super Mario Bros Movie, which concluded with $574.9 million. The movie’s success has
When looking at the midday trading reports, it is evident that the stock market is experiencing a mixed bag of outcomes. From SolarEdge Technologies taking a substantial hit to Carnival seeing a significant rise, investors are navigating through various developments that are impacting their portfolios. Let’s delve into some of the key highlights and trends
Thelma, released by Magnolia Pictures, had an impressive opening weekend with a box office earnings of $2.2 million on 1,280 screens. The film, featuring a 93-year-old star, June Squibb, managed to attract a broad audience. The portrayal of an intergenerational story resonated well with viewers, as evidenced by strong showings in various markets across the
Recent reports have highlighted a concerning trend in the alcohol market, particularly for the prestigious Chinese brand known as “Flying Fairy.” The brand, which is a traditional Chinese baijiu liquor, has seen a significant decrease in wholesale prices in recent weeks, sparking worries about the overall economic growth. This drop in prices comes on the
Deutsche Bank’s strategists have once again turned their attention to the S&P 500, suggesting that the index may experience another pullback. This follows their successful prediction in April, where they anticipated a pause in the market rally, resulting in a 4.6% decline in the weeks following their note. The strategists have identified three key factors
Accenture, the technology company, saw an increase of 8.6% in its stock despite missing earnings and revenue expectations. The company, however, reported over $900 million in new generative AI bookings, showing promise for future growth. On the other hand, Trump Media & Technology Group faced a decline of nearly 12% as its registration of additional
Disney/Pixar’s blockbuster sequel, Inside Out 2, continues to dominate the international box office as it sets new opening day benchmarks in several key overseas markets. The film’s success overseas has propelled its global box office total to an impressive $438.7 million, with the half a billion mark looming on the horizon. Wednesday saw the addition
Darden Restaurants recently reported a mixed quarterly performance, with Olive Garden experiencing a decline in same-store sales for the second consecutive quarter. This trend is concerning for the company, as it indicates a potential struggle to attract customers and drive revenue growth. With only a forecasted 1% to 2% increase in same-store sales for fiscal
The latest report from Bernstein sheds light on the Indian stock market landscape, indicating a surge in investor enthusiasm towards Indian stocks. However, this surge seems to be driven more by greed than rational decision-making. The report assesses approximately 90 stocks across 14 subsectors, focusing on long-term growth expectations embedded in their valuations. In January
The indie film industry is facing significant challenges as it attempts to recover from the impact of the Covid-19 pandemic. While mainstream films like Inside Out 2 and Bad Boys: Ride Or Die have dominated the box office, indie films are struggling to find their footing. One distributor commented that June is crowded with indies,
Oracle, a leading software maker, saw its shares spike by more than 12% to reach an all-time high following the announcement of cloud deals with Google and OpenAI. The database management company revealed plans to bring its database to Google’s cloud in November, as well as partnering with Microsoft and OpenAI to provide supplemental computing
Affirm Holdings saw a nearly 7% increase in its stock following the announcement that its buy now, pay later loans will be integrated into Apple Pay, providing another payment option for U.S. Apple users. This move is expected to boost Affirm’s reach and popularity among consumers, potentially driving further growth in the future. General Motors