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Walmart revealed its Q4 earnings report on Tuesday that missed analysts’ estimates attributed to weakened demand for apparel, toys, and video games in the holiday quarter. The American multinational retail corporation also gave its guidance for fiscal 2020 that came shy of the expectations. As per the retailer, e-commerce growth is expected to lose pace this year. It also highlighted that the potential impact of the recent outbreak of Coronavirus…
Medtronic recently joined the list of businesses that anticipate a significant hit ascribed to the recent outbreak of Coronavirus in China. In its third-quarter earnings report on Tuesday, the company failed to hit the estimate for revenue. Medtronic says it saw a fading demand in its heart device unit in the recent quarter that led to poor than expected results. The biggest global standalone medical device manufacturer also highlighted that a ra…
Nvidia announced its quarterly performance results on Friday that surprised the analysts with stronger than expected reading for revenue. The American technology company joined its competitors like AMD (Advanced Micro Devices) and Intel in anticipating upbeat demand for advanced chips as a core component of the latest generation artificial intelligence and data centers. Surging 6% in the stock market following the release of the Q4 earnings repor…
Virgin Galactic Holdings extended its upward rally further on Tuesday with a massive 24% daily gain. Following yesterday’s rally, Virgin now records a more than 400% increase in the stock market since early December. While analysts appreciate its performance, they are now recommending caution highlighting that the spaceflight company has entered the “overbought” territory. In recent sessions, billionaire Richard Branson backed Virgin Galactic has…
In its announcement on Tuesday, Dell Technologies declared that it has decided in favor of selling its cybersecurity unit RSA. The American multinational computer technology company struck a deal with STG Partners LLC for $2.08 billion. The transaction is not yet completed but Dell expressed confidence that it will be finalized in the upcoming weeks. Bloomberg had first reported back in November that Dell was planning on selling its RSA unit that…
Retail behemoth Walmart reported Tuesday morning fourth quarter results which fell short of expectations. The company said it earned $1.38 per share in the fourth quarter on revenue of $141.7 billion. Both numbers were short of the $1.44 and $142.64 billion Wall Street analysts were expecting. Q4 Highlights And Guidance Beyond the top-and-bottom line, investors have some reasons to be concerned with Walmart’s performance. Same-store sales i…
InterContinental Hotels (IHG) announced a rise in pretax profits for 2019 from $482 million to $542 million on a year-to-year basis. Moreover, the net profit has increased from $349 million to $385 million on the back of the “successful execution of its strategy”. “Our performance in 2019 reflects the continued successful execution of our strategy, with the investments we’re making in our brands, owner offer and enterprise capabilities acce…
Thierry Breton, the EU industry commissioner, reminded Facebook on Monday that it is for the social network to align its policies and operations as per Europe’s standards and not the other way around. Breton largely disregarded the internet rules proposed by the well-renowned U.S social media as insufficient. Breton’s comment came following CEO Mark Zuckerberg’s meeting with the EU industry commissioner. Breton is also set to announce the first d…
HSBC Holdings seems to be aiming for a massive improvement in its returns this year. Announcing its largest multi-year overhaul, the financial services company said that it plans on cutting a few of its assets worth $100 billion. As part of the restructuring in the U.S and Europe, HSBC will also be slashing its investment bank. HSBC strategized to restructure following a major blow to its profit (before tax) in 2019 that saw a 33% decline. Much o…
The White House seems committed to placing a global ban on Huawei Technologies. In a recent development, President Trump is evaluating a new option of tweaking the U.S regulations that will enable it to block Huawei Technologies from receiving chips shipments from suppliers like Taiwan Semiconductor Manufacturing Company (TSMC). TSMC is known as the biggest chipmaker across the globe. As per the sources, while the draft for the aforementioned chi…