Chinese budget retailer Miniso’s first quarter (Q1) profit tripled year-on-year (YoY) to 1.25bn yuan ($180.9m), from 416.5m yuan in the same period last year. Revenue for the quarter rose 28.5% YoY to 5.68bn yuan. The company said the increase was supported by mid-single-digit same-store sales growth at group level. Revenue from the Miniso brand climbed…
The Micron (MU) stock price bubble could best be explained — partially — by two simple numbers. The quick analysis: Micron has become a major driver of the S&P 500’s (^GSPC) projected future earnings growth because of its strong outlook, Goldman Sachs strategists pointed out. It’s only second to AI chipmaker Nvidia (NVDA) in importance to…
What happened: Bitcoin dropped roughly 2% on Wednesday to hover near $75,500 per token. What’s behind the move: Bitcoin has decoupled from the tech sector as a rally in semiconductors pushed the Nasdaq Composite (IXIC) to record highs. Instead, the token has fallen about 7% over the past two weeks after climbing above $81,000. Investors…
Even with inflationary war dynamics in the mix in March, the earnings engine for leveraged borrowers fired on all cylinders over the first three months this year, and key credit metrics (leverage, coverage) improved. In fact, EBITDA growth surged 9% for LCD’s running sample of leveraged loan borrowers, the highest since Q3 2022. Revenues grew…
With a market cap of $12.7 billion, Assurant, Inc. (AIZ) is a global provider of protection services for connected devices, homes, and automobiles, operating across North America, Latin America, Europe, and Asia Pacific. It offers mobile device and vehicle protection solutions, extended service contracts, and specialty housing insurance products, serving both consumers and businesses through its…
SoFi Technologies (NASDAQ: $SOFI) is moving its stablecoin push from announcement into product, launching SoFiUSD directly inside its banking app for nearly 15 million members. The company said SoFiUSD is the first stablecoin issued by a U.S. national bank to become available directly on a banking platform. Members can now buy, sell, hold and convert…
NVIDIA stock received fresh buy ratings from multiple Wall Street firms in just a 7-day span. Wedbush stamped the highest target at $330, Jefferies and Mizuho at $300, and Morgan Stanley at $288. Yet the stock is rolling over from a $236 peak. Institutional money turned negative on May 27, and retail volume turned red…
Abercrombie & Fitch reported first-quarter earnings per diluted share of $1.47, beating analyst expectations and sending ANF stock up in premarket trading on Wednesday. The consensus analyst estimate had been $1.27 per share, per Yahoo Finance. Net sales rose 2% from a year earlier to $1.1 billion, marking the company’s 14th consecutive quarter of sales…
Oil prices fell sharply on Wednesday morning as traders looked for momentum in US-Iran negotiations, with hopes spurred by reports from Iranian state media that such a deal would reopen the Strait of Hormuz. Futures on Brent crude (BZ=F), the international benchmark, fell 4.2% to trade below $93 per barrel, while those on US benchmark…
The pricing of a Honeywell (NASDAQ: HON) carve-out juiced the stock of the storied industrial company on Tuesday. After the company provided crucial financial details for the soon-to-be independent Quantinuum that morning, investors signaled their approval by collectively trading the stock up by 1.7%. That was good enough to beat the S&P 500 index’s 0.6%…
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