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Netflix Inc. (NASDAQ: NFLX) posted impressive second-quarter results that exceeded market expectations, but its stock is experiencing a dip in after-hours trading. The streaming giant’s robust financial performance was significantly buoyed by the success of its ad-supported tier memberships, highlighting its strategic shift in revenue generation. In Q2, Netflix reported earnings of $4.88 per share on revenues of $9.55 billion, surpassing analyst predictions of $4.74 per share and $9.53 billion in revenue. The company’s strong quarterly performance was driven by the popularity of series and fil...
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CrowdStrike Holdings Inc. (NASDAQ: CRWD), a prominent name in the cybersecurity sector, is facing a challenging outlook according to a recent analysis by Redburn Atlantic. Analyst Nina Marques has issued a “sell” rating for CrowdStrike, forecasting a potential decline in its stock price to $275—a further 23% drop from its previous close. This comes on the heels of a 13% decline in the company’s shares over the past month, signaling growing investor concern. Why is Redburn Atlantic bearish on CrowdStrike stock?Nina Marques’ downgrade is rooted in valuation concerns rather than the quality of Cr...
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LATAM Airlines is set to relist its shares on the New York Stock Exchange in a move that could fetch it a valuation of $8.5 billion, the company said on Thursday as reported by Reuters. Certain shareholders of the company launched a public offering to sell 19 million American Depositary Shares (ADSs), each representing 2,000 common shares of LATAM, the company said. The Santiago, Chile-based carrier could raise over $533 million for its selling shareholders if it were to sell shares at a price near its last close on the Chilean stock exchanges, where they are already listed, Reuters said. An A...
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Abbott Laboratories (NYSE: ABT) faced a 3.0% decline in stock price this morning despite reporting a strong second quarter and raising its full-year guidance. Meanwhile, CEO Robert B. Ford thinks the overall optimism around Abbott is because of the company’s promising product pipeline, particularly a new over-the-counter product called Lingo. Lingo: A potential game-changerLingo is an over-the-counter version of Libre, Abbott’s popular continuous glucose monitor. During an interview with CNBC, CEO Ford highlighted the significant potential of Lingo, seeing a multi-billion-dollar opportunity ev...
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Agenus Inc (NASDAQ: AGEN) faced a dramatic decline in its stock price on Thursday, plummeting more than 50%, following the US Food and Drug Administration (FDA’s) decision to advise against pursuing accelerated approval for its BOT/BAL colorectal cancer combination therapy. Despite the setback, the company remains committed to exploring alternative pathways to bring this promising treatment to market. The FDA’s recommendation came after Agenus presented results from its Phase 2 study, revealing a 19.4% overall response rate (ORR) and a 90% 6-month survival rate for the 75mg dosage of BOT/BAL. ...
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Amazon.com Inc (NASDAQ: AMZN) faced a slight decline in stock value today despite achieving record-breaking sales during Prime Day 2024, which saw customers spend over $14 billion across its platform. The eCommerce giant reported a surge in Prime members participating in this year’s event, marking a significant increase from previous years. Notably, shoppers showed a strong preference for both well-known brands like Apple and Dyson and smaller businesses such as TruSkin and Native Pet, underscoring a broad appeal across consumer segments. Amazon Prime Day 2024 highlights:Amazon revealed that i...
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After experiencing three consecutive losses, WTI crude oil futures made a significant recovery on Wednesday, surpassing the $82 per barrel mark. This surge in prices is primarily attributed to a notable decrease in US oil stockpiles, as reported by the American Petroleum Institute (API). Surprising US crude stockpile plummet spurs market optimismIn a surprising turn of events, the API announced a drastic reduction of 4.4 million barrels in US oil inventories, far exceeding the industry analysts’ forecast of a mere 33,000 barrel decline. If this data is confirmed by official sources, it will re...
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Interactive Brokers Group Inc (NASDAQ: IBKR) says its profit and revenue surpassed Street estimates as higher trading volumes pushed commission revenue up 26% in its second financial quarter. IBKR stock is being rewarded in extended hours also because the largest U.S. trading platform ended its Q2 with 2.92 million customers in total – up a whopping 28% on a year-over-year basis. Higher benchmark interest rates also delivered a 14% annualised growth to the company’s net interest income in the recently concluded quarter. Interactive Brokers stock is now up more than 50% for the year. Interactiv...
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Match Group Inc (NASDAQ: MTCH) surged nearly 10% on Tuesday following the news of Starboard Value acquiring a 6.6% stake in the dating app giant. The move by Starboard, known for its aggressive shareholder activism, has ignited speculation about Match Group’s future, particularly around the possibility of a strategic sale if turnaround efforts falter. However, according to analysts at Wolfe Research, Match Group stock may already be on a path to a turnaround. Starboard wants Match Group to buy back stockJeffrey Smith of Starboard Value urged Match Group to focus on cutting costs to improve mar...
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Bitcoin is currently down significantly versus its year-to-date high but the macroeconomic developments point to a strong comeback. Donald Trump, for example, picked pro-crypto senator J.D. Vance as running mate. He, in fact, is the first ever BTC holder on a presidential ticket. Earlier this year, the Trump campaign revealed plans of accepting donations in cryptocurrencies as well. Donald Trump as President may be a positive for cryptoSuch developments signal a favourable environment for the crypto market if Donald Trump wins the 2024 U.S. elections and returns to the Office in November – the...
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