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The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks beginUkraine and Moldova on June 25 officially began their accession talks with the European Union in a moment full of excitement — and anxiety — about the changes ahead. “This is great news and the beginning of a path with a loooot [sic] of work for the entire state apparatus in the coming years,” Ukrainian lawmaker Yaroslav...
Kyiv Independent (CA)
The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks beginUkraine and Moldova on June 25 officially began their accession talks with the European Union in a moment full of excitement — and anxiety — about the changes ahead. “This is great news and the beginning of a path with a loooot [sic] of work for the entire state apparatus in the coming years,” Ukrainian lawmaker Yaroslav...
Kyiv Independent
The following is the July 4, 2024 edition of our Ukraine Business Roundup weekly newsletter. This version is condensed as the author was out of the office. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. EU accession talks beginUkraine and Moldova on June 25 officially began their accession talks with the European Union in a moment full of excitement — and anxiety — about the changes ahead. “This is great news and the beginning of a path with a loooot [sic] of work for the entire state apparatus in the coming years,” Ukrainian lawmaker Yaroslav...
Kyiv Independent (UK)
Jeff Bezos has disclosed a plan to sell 25 million additional shares of Amazon.com Inc., valued at approximately $5 billion. This announcement coincided with Amazon’s stock reaching a new record high of $200 per share. The notice, filed after market closure on Tuesday, indicated that sales could commence immediately. This latest move follows Bezos’s sale of shares worth about $8.5 billion over nine trading days in February, marking his first disposal of company stock since 2021. Combined with the February sales, the upcoming transaction will bring his total share sales for the year to roughly ...
Invezz
Ford Motor Company has reported a modest increase in sales for the second quarter of 2024, with total vehicle sales rising to 536,050 units, a mere 1% increase compared to the same period last year. This contrasts sharply with the 10% growth seen in 2023, highlighting the challenges currently facing the U.S. auto industry. Impact of the cyberattack on dealership softwareA significant factor contributing to the slower sales growth was a cyberattack on CDK Global, a critical retail technology and software provider for dealerships, which occurred in late June. This attack disrupted a crucial sell...
Invezz
Shares of Floor & Decor Holdings Inc (NYSE: FND) have plummeted by approximately 30% from their year-to-date high in late March, following a critical short report published by Spruce Point Capital Management on Monday. The report has raised significant concerns about the company’s financial health and strategic direction. Spruce Point’s bearish stance on Floor & DecorBen Axler, the founder of Spruce Point Capital, has highlighted several red flags that underpin his bearish outlook on Floor & Decor stock. According to Axler, the home improvement retailer has been “ceasing disclosures” and “chan...
Invezz
Chewy Inc (NYSE: CHWY) rallied close to 20% in premarket this morning after an SEC filing confirmed that “Roaring Kitty” has built a stake in the pet food and products retailer. Shares of the eCommerce company are now trading at a year-to-date high. How many shares of Chewy does Roaring Kitty own?Keith Gill (Roaring Kitty) now owns more than 9 million shares of Chewy Inc, as per the Securities and Exchange Commission filing on Monday. His stake amounts to 6.6% in total which makes him the third-largest shareholder of the New York listed firm. CHWY has been volatile since last week after Roarin...
Invezz
Adidas (ETR: ADS) share price has outperformed Nike this year as the latter has continued to report weak financial results. It has soared by over 22% in 2024 while Nike has slumped by over 10%. Nike’s sell-off accelerated in extended hours after it published weak results and guidance. Nike slashes guidanceAdidas stock price was in the spotlight on Friday after Nike slashed its guidance after publishing weak financial results. Its direct-to-consumer revenue dropped by 8% to $5.1 billion while its overall figure fell by 2% to $12.6 billion. Nike warned that its business was softening and that it...
Invezz
New York (AFP) - Nike reported higher profits due to cost-cutting efforts Thursday, but shares fell sharply on the company's tepid outlook despite a hoped-for boost from the upcoming Olympic Games. The sports giant, which has been criticized in recent times over a lack of innovation and strategic stumbles, reported a dip in quarterly revenues as executives cited a number of headwinds. These included a drop in Nike's lifestyle business, a decline in digital sales and weakness in some key markets such as China, said Chief Financial Officer Matthew Friend, adding that these factors influenced Nik...
AFP
Nike Inc (NYSE: NKE) is losing in extended hours on Thursday after coming in shy of Street estimates for its fourth financial quarter. Shares of the footwear giant are still down close to 15% versus the start of 2024. Notable figures in Nike Q4 earnings releaseEarned $1.5 billion versus the year-ago $1.03 billionPer-share earnings also improved from 66 cents to 99 centsAdjusted EPS printed at $1.01 as per the earnings reportRevenue inched down 2.0% year-over-year to $12.6 billionConsensus was 84 cents a share on $12.86 billion in revenueNike reported a 110 basis points increase in gross margin...
Invezz
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