Nvidia experienced a significant blow on Tuesday, losing $279 billion in market value in a single day. This marks the fifth time the stock has lost over $200 billion in market cap in a single day. The stock plummeted 9.5% and is now down 23.3% since June 20. Despite these losses, Nvidia has seen a
Ulta Beauty’s shares plummeted 7% in extended trading after the company failed to meet second-quarter expectations and revised its full-year guidance due to a decrease in same-store sales. This marked the first earnings per share miss for Ulta since May 2020 and the first revenue miss since December 2020. Comparable sales in the second quarter
On Thursday morning, Gap shares were abruptly halted due to the premature release of the company’s quarterly earnings results. This incident caused uncertainty and confusion among investors, as the information was not intended to be disclosed until after the closing bell on Thursday. The stock trading was paused just before 10 a.m. ET, with Gap’s
In today’s labor market, young adults are facing significant challenges, with approximately 16% of 18- to 24-year-olds not employed or enrolled in high school or college. This demographic is often referred to as “disconnected youth” or “NEETs.” Many young individuals are opting out of the labor force due to discouragement stemming from their economic situation.
Berkshire Hathaway, under the leadership of Warren Buffett, recently reached a significant milestone by achieving a $1 trillion market capitalization. This achievement is notable as it marks the first time a non-technology company in the United States has reached this coveted milestone. Despite a challenging economic environment, Berkshire’s stock price has soared, with shares rallying
Nvidia, a leading technology company, experienced a dip in its shares during U.S. premarket trade recently. This drop was primarily due to the company’s fiscal second-quarter gross margin decreasing slightly, despite reporting a significant revenue beat for the quarter. Although Nvidia’s revenue for the quarter surpassed $30 billion, marking a remarkable 122% year-on-year increase, investors
China’s housing market continues to face challenges, with JPMorgan economist, Haibin Zhu, expressing concerns that the sector’s woes are far from over. Despite various government stimulus efforts, the market remains lackluster and shows no signs of immediate recovery. According to Zhu, home prices are unlikely to stabilize until 2025 at the earliest. Recent data from
Travel spending among American households has exceeded pre-pandemic levels, with a particular focus on international trips. Bank of America research indicates that travel momentum is heavily influenced by vacationing abroad, with spending up by 10.6% per household compared to 2019. According to economists Taylor Bowley and Joe Wadford, international travel remains a robust area of
REA Group, owned by media mogul Rupert Murdoch’s News Corp, has announced that it is exploring the possibility of making a takeover offer for U.K. property portal Rightmove. This move is part of the company’s strategy to create a global digital real estate business. Shares of Rightmove surged 25% in early trading after the announcement,
As British fund manager abdrn predicts a soft landing for the U.S. economy, concerns about a prolonged slowdown in 2025 linger. Kenneth Akintewe, the company’s head of Asian sovereign debt, raised doubts about the accuracy of economic indicators and the Federal Reserve’s decision-making process. He highlighted the revision of non-farm payroll numbers, revealing a weaker