The post-holiday box office weekend saw a significant decline in earnings compared to the previous year, with all titles grossing an estimated $68.6M, a staggering 66% drop from the previous year’s total of $205.1M. This poor performance can be attributed to various factors, including lackluster movie releases and overall audience disinterest in the available options.
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Adam Moelis, co-founder of Yotta, had noble intentions when he started the fintech startup in 2019. He aimed to provide Americans with a unique way to save money and build financial stability. However, what unfolded was far from his vision. A dispute between Yotta’s banking partners, Synapse and Evolve Bank & Trust, led to the
The global equities index, MSCI, saw a notable rebound in afternoon trading as investors repositioned themselves for month-end activities. Initially in the red, the MSCI All Country World Price Index turned positive towards the end of the session before Wall Street trading closed. The index was up 0.57% at 785.54, showcasing a strong recovery from
Dell Technologies saw its stock slide more than 16% after executives warned investors about further margin pressure in the coming years. While the company posted a first-quarter earnings beat on both the top and bottom line, the forecast of a roughly 150 basis point reduction in gross margin by 2025 caused concern among shareholders. On
The Food and Drug Administration has given its approval for Moderna’s vaccine for respiratory syncytial virus for adults aged 60 and older. This marks the company’s second product to enter the U.S. market, providing Moderna with a much-needed revenue stream as demand for its Covid jab declines. The decision to approve Moderna’s shot was based
Dell Technologies experienced a significant drop in share price, with shares falling more than 16% following the release of the company’s fiscal first-quarter results. Despite beating analysts’ expectations, investors were discouraged by Dell’s lower-than-expected artificial intelligence server backlog and the anticipated decline in margins. The stock market’s negative reaction to these news highlights the underlying
Morgan Stanley’s analysts recently increased their price targets on Toyota and Honda, with Honda specifically highlighted as their top choice among Japanese automakers due to improved profitability prospects and sustained shareholder returns. This strategic move is based on the idea that Honda’s profitability is expected to shine brighter in the coming days with a broader
The recent election projections in South Africa have sparked significant political uncertainty, resulting in a decline in the country’s currency, stocks, and bonds. The African National Congress (ANC) is facing the possibility of losing its parliamentary majority for the first time in 30 years, which could have far-reaching implications for the nation’s economic and fiscal
In April, signed sales contracts on existing homes experienced a significant drop of 7.7% compared to March, marking the slowest pace since April 2020. This decline, reported by the National Association of Realtors, came as a surprise to many industry experts who anticipated flat sales compared to the previous month. The decrease in pending sales,
Boeing CEO Dave Calhoun is set to meet with the Federal Aviation Administration (FAA) along with other top company leaders to present a quality improvement plan. This plan is aimed at showcasing better staff training and production practices at Boeing’s factories. The FAA ordered this report after a near-catastrophic incident involving an airplane door panel
European stock markets experienced a decline on Thursday, largely influenced by the impact of rising global bond yields. At 03:10 ET (07:10 GMT), the DAX index in Germany was seen trading 0.3% lower, accompanied by a 0.2% drop in the FTSE 100 in the U.K. Conversely, the CAC 40 in France recorded a slight increase
Columbia Pictures’ Bad Boys: Ride or Die is set to hit theaters in China on June 22, marking the second installment of the Bad Boys franchise to be released in mainland China. The previous film, Bad Boys for Life, debuted in China in August 2020 amidst the Covid-19 pandemic, grossing a mere $3.2M. Despite this
The recent transition to faster trade settlements for securities in the U.S. has been met with processing bumps, according to market participants. The move from a two-day settlement cycle (T+2) to a one-day settlement cycle (T+1) was adopted to comply with a rule change by the U.S. Securities and Exchange Commission. This shift in the
The recent market activity has taken a toll on Salesforce, with shares plummeting over 14% after missing first-quarter revenue estimates. The company did manage to surpass adjusted earnings expectations, but its current-quarter guidance fell short on both top and bottom lines. This drop signifies the importance of meeting revenue projections in maintaining investor confidence. UiPath