Author: starbpo

Planet Fitness Inc.’s stock went up 11% in premarket trading on Tuesday after the fitness chain reported an 18% increase in profit, which was higher than what analysts had expected for adjusted profit and revenue. As of June, Colleen Keating became CEO of the company. She said that the “unique strength of our asset-light, highly franchised business model” helped the business. Planet Fitness PLNT -0.54% said that its net income rose from $41.14 million, or 48 cents a share, in the previous quarter to $48.64 million, or 56 cents a share, in the second quarter. The gym owner’s adjusted profit…

Lumen Technologies Inc. LUMN -15.64% shares went through the roof after the phone company said it had signed five billion dollars worth of new deals. The stock also seems to be being driven by a lot of other good news. The company said in a statement on Monday that the growth in its order book of $5 billion was due to a rise in demand for products that use artificial intelligence. CEO Kate Johnson said, “The AI economy is changing how businesses work, and they’re realising they need strong network infrastructure to handle the huge amounts of data coming in…

The ride-hailing company Uber Technologies beat quarterly earnings estimates and gave positive guidance on Tuesday, which caused shares of the company to rise. FactSet says that Uber made 47 cents a share in the second quarter, which was more than the 31 cents that Wall Street expected. Revenue of $10.7 billion was more than the $10.57 billion that most people thought it would be. The company said that mobility and delivery brought in 25% and 8% more money, respectively, while goods brought in the same amount of money.

Investors were not impressed by GlobalFoundries’ mixed outlook for the current quarter, even though the company reported good results for the second quarter. FactSet says the contract chip maker reported adjusted earnings of 38 cents per share for the second quarter, which was higher than the 29 cents a share that was expected. The $1.63 billion in sales was 12% less than the previous year, but it was still more than the $1.61 billion that was expected. However, investors always look ahead, and the forecast didn’t have much to offer. For the third quarter of this year, GlobalFoundries GFS -1.54%…

Shares of Lucid Group Inc. went up 6% in Monday’s extended session after the company got a $1.5 billion commitment from Saudi Arabia’s sovereign wealth fund. This was more important news than the company’s quarterly results. Most of Lucid’s stock is owned by Ayar Third Investment Co., which is a branch of the Public Investment Fund. The company said it had reached an agreement with Ayar to buy $750 million in convertible preferred stock through a private placement and also provide a $750 million delayed-draw term loan facility. The company said that the $1.5 billion promise from Saudi Arabia’s sovereign…

After a rough day on Monday, when the S&P 500 SPX fell 3.00%, which was its worst single-day performance in almost two years, U.S. stock index futures are up early Tuesday. The S&P 500 fell 6% over three days, the Nasdaq Composite fell 8%, and the Russell 2000 fell 10%. There are fears of a U.S. recession and that the Bank of Japan will raise interest rates and end the yen carry trade. Now the question is whether the market has seen its worst. The head of cross-asset strategy at JPMorgan, Thomas Salopek, says the answer is no. As of…

Before the market opens on Tuesday, Uber Technologies Inc. shares are going up after the company reported better-than-expected earnings and continued profit growth. In the second quarter, the company made $1.02 billion, or 47 cents per share. This is up from $394 million, or 18 cents per share, in the same time last year. FactSet kept track of analysts who thought the company would earn 31 cents per share. Uber UBER -0.86% also reported adjusted earnings of $1.57 billion, up from $916 million the previous year. This was higher than the $1.51 billion that analysts were expecting. The amount of…

WILMINGTON, Del. — Robert F. Kennedy Jr., an independent candidate for president, once found a bear that had been hit by a car and left it in New York’s Central Park with a bicycle on top of it. This caused a mystery that swept the city ten years ago. Kennedy talks about what happened in a video that was shared on social media on Sunday. He also says that it will be part of an upcoming article in The New Yorker that he thinks will be negative. It’s the latest strange event in Kennedy’s crazy campaign, which has split his…

Most of 2024, investors in the stock market have been happy about a “Goldilocks” economy that is neither too hot nor too cold. More bad U.S. economic news in the beginning of August is making people worry that the bears have come home. The July jobs report came out on Friday, but it was not as good as expected. It showed that payrolls growth was slowing and the unemployment rate rose to 4.3%. Following a set of weak data the day before, stocks continued their sharp drop. The prices of Treasury notes went through the roof, and yields fell sharply,…

Kellanova is a snack food company that was spun off from WK Kellogg. Its shares went up in premarket trade after a report said that Mars is looking into buying it. Reuters said that Mars wants to buy the company that makes Pringles. If they do, it will be one of the biggest deals in the history of the packaged food industry. In premarket trade, Kellanova shares 1.50% went up 6%. This year, the stock is up 13%. The report said it’s not certain that Kellanova will try to make a deal with Mars; another company could also do so.…