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GameStop (NYSE: GME) released its First Quarter Fiscal Year 2022 results after the market closed on Wednesday. The company posted wider Q1 loss, but beat WallStreet estimates. Revenue: $1.38 billion vs $1.32 billion expectedEPS: -$2.08 vs -$1.45 expected GME generated $673.8 million in sales of hardware like game consoles and accessories, which amounted to 48.9% of all sales. That was down from $703.5 million in the year-ago quarter. It made $483.7 million on software, down from $397.9 in the year-ago quarter, and $220.9 million on collectibles, up from $175.4 million in Q1 2021. FIRST QUARTER OVERVIEW Net sales were $1.378 billion for…

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Snowflake Inc (NYSE: SNOW) stock fell as much as 14% after it reported its Q1 results for the fiscal year 2023. The company reported a revenue of $422.4 million and an EPS loss of $0.53. The company’s revenue grew about 85% YOY in the quarter, which ended on April 30. In the prior quarter, revenue grew 101%. Almost all of Snowflake’s revenue comes from product revenue, which jumped by 84%, compared with 102% in the prior quarter. SNOW plunged after the data analytics software maker said it doesn’t expect a positive adjusted operating margin for the current quarter. Highlights Product revenue…

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Vinco Ventures (NASDAQ: BBIG) stock fell more than 15% during the after market hours after it delayed the distribution date of its Cryptyde (NASDAQ: TYDE) spin-off due to contractual and regulatory conditions. The Company currently expects the distribution date for the Cryptyde spin-off to occur on or about the end of the second quarter of 2022, subject to certain contractual and regulatory conditions being met or waived. On May 5, 2022, the Company announced that each Vinco stockholder of record as of the close of business on May 18, 2022 would receive one share of Cryptyde common stock for every…

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Enochian Biosciences Inc (NASDAQ: ENOB) stock crashed more than 40% after Hindenburg Research reported that Enochian’s founder and inventor of its scientific breakthroughs has been arrested in a murder for hire plot in California. The press release by Department of Justice from the District of Vermont was also attached. The Office of the United States Attorney for the District of Vermont stated that Serhat Gumrukcu, 39, of Los Angeles, California, and Berk Eratay, 35, of Las Vegas, Nevada, were arrested yesterday after having been charged by a federal grand jury in Vermont with conspiring to use interstate commerce facilities in…

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Shares of the popular burger chain Wendy’s (NASDAQ: WEN) surged after a filing revealed that Trian Partners, its largest shareholder is exploring a potential takeover deal with the company. Trian, along with its partners, owns a 19.4% stake and said it was seeking a deal to “enhance shareholder value”. Wendy’s said in a statement it regularly reviews opportunities with the goal of “maximizing value for all stockholders” and would “carefully review” any proposal from Trian. Meanwhile, the firm has said that its currently evaluating strategic options with its advisors and has discussed various scenarios with Wendy’s board. Wendy’s and its…

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Snapchat (NYSE: SNAP) shares crashed 30% on Monday after its CEO warned that the company will miss its own targets for revenue and EPS in the current quarter. Evan Spiegel, CEO of Snapchat also informed that the company will be slowing its hiring. “Today we filed an 8-K, sharing that the macro environment has deteriorated further and faster than we anticipated when we issued our quarterly guidance last month,” “As a result, while our revenue continues to grow year-over-year, it is growing more slowly than we expected at this time.”“We believe it is now likely that we will report revenue…

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Vinco Ventures (NASDAQ: BBIG) announced its Q1 results for FY22 after the market closed on Monday. The company reported a revenue of $11.5 million, a 349% increase of compared to Q1 2021. Total cash available increased to $210 million with access to more than $130 million in unrestricted cash. Operational Highlights: Vinco Ventures completed the acquisition of AdRizer LLC, a provider of technology solutions that automate the use of artificial intelligence for digital advertising analytics and programmatic media buying, on February 11, 2022, for consideration consisting of $38 million in cash paid at closing and up to 10 million shares…

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Shares of SIGA Technologies (NASDAQ: SIGA) continued to gain during the early hours on Monday as monkeypox cases continued to rise around the world. The stock was up 33% at the time of writing. Just a few days ago the stock was trading around the $7 mark, and has more than doubled since. Why? They make treatments for monkeypox. Competitors Emergent Biosolutions and  Tonix Pharmaceuticals also saw massive gains. These companies provide solutions for biodefence in an event of biological attack. What treatments are available against monkeypox? There isn’t a specific treatment for monkeypox. The smallpox virus belongs to the orthopoxvirus…

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Ross Stores (NASDAQ: ROST) posted its Q1 results after the market closed on Thursday. The company reported an EPS of $0.97 and a revenue of $4.33 billion. Ross Stores Inc. (ROST) lowered its outlook for the full year 2022, sending the company’s shares down over 20% during after market hours. Analyst Estimates EPS: $0.97 vs $0.99 estimatedRevenue: $4.33 billion vs $4.52 billion CEO Statement “We are disappointed with our lower-than-expected first quarter results. Following a stronger-than-planned start early in the period, sales underperformed over the balance of the quarter. We knew fiscal 2022 would be a difficult year to predict,…

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Upstart Holdings (NASDAQ: UPST) reported its Q1 results for the fiscal year 2022, after the market closed on Monday. They reported a revenue of $310 million and an EPS of $0.61 topping WallStreet estimates. However the company’s Q2 guidance of $295 million – $305 million was lower than the estimated $334.8 million; expects Q2 adjusted EBITDA of $32million- $34 million vs. $59.2million consensus, and Q2 adjusted net income of $28M-$30M indicates a decline from $32.7M reported in Q1 2021. The stock tanked 42% during after hours trading, following the announcement. Estimates: Revenue: $310 million vs $300 expectedEPS: $0.61 vs $0.53…

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