Author: Kritika Mehta

Starbucks Corporation (Nasdaq: SBUX) released its second-quarter fiscal year 2022 financial results after the market closed on Tuesday. Financial Highlights Global comparable store sales increased 7%, driven by a 4% increase in average ticket and a 3% increase in comparable transactionsNorth America and U.S. comparable store sales increased 12%, driven by a 7% increase in average ticket and a 5% increase in comparable transactionsInternational comparable store sales decreased 8%, driven by a 5% decline in average ticket and a 3% decline in comparable transactions; China comparable store sales decreased 23%, driven by a 20% decline in comparable transactions and a…

Expedia Group, Inc. (NASDAQ: EXPE) announced financial results today for the first quarter ended March 31, 2022. The company missed the Zacks consensus estimate by 77.78% and reported a loss of $0.48 per share. Therefore, the EXPE stock tumbled in Tuesday’s trading session. Financial Highlights For the first quarter 2022, total gross bookings were $24.4 billion, up 58% compared to the first quarter 2021 and down 17% compared to the first quarter 2019, the smallest quarterly decline since the start of the pandemic.For the first quarter 2022, net loss was $122 million and adjusted net loss was $74 million. Adjusted…

Elliott Investment Management L.P., which manages funds that have an approximately $1 billion investment in Western Digital Corporation (NASDAQ: WDC), today sent a letter to the Board of Directors of Western Digital. The letter called on the Board to conduct a full strategic review of the value that could be created by separating its two vastly different businesses, hard disk drives and NAND flash memory. Today, the WDC stock soared in the pre-market session after the aforementioned announcement was made. The gains extended into the market trading session. Letter Contents According to the letter, Western Digital has underperformed— operationally, financially…

Chegg, Inc. (NYSE: CHGG), the leading student-first connected learning platform, reported financial results for the three months ended March 31, 2022, on Monday. The company beat the earnings estimate of $0.25 per share by a huge 28% and reported an EPS of $0.32. However, in Tuesday’s pre-market trading session, the CHGG stock saw a massive drop. Financial Highlights Total Net Revenues of $202.2 million, an increase of 2% year-over-yearChegg Services Revenues grew 14% year-over-year to $184.8 million, or 91% of total net revenues, compared to 82% in Q1 2021Net Income was $5.7 millionNon-GAAP Net Income was $50.1 millionAdjusted EBITDA was $62.2 million5.4 million: number of…

Blue Apron (NYSE: APRN) announced today two significant capitalization events. The company plans to use the proceeds to pay off its existing term loan, and for general corporate purposes to stay focused on its long-term sustainable growth plan and to continue to execute on its turnaround strategies. Therefore, in response to such an announcement, the APRN stock soared in Monday’s trading session. Key Terms Blue Apron entered into agreements for (i) a new $40.0 million private placement investment by RJB Partners LLC, an affiliate of Joseph N. Sanberg, a long-time investor in the company and a leading investor in climate…

The crypto market is in ‘red’ today, except the two major coins and a few others. Moreover, one digital currency that lost a huge value is Crypto.com’s Cronos (CRO) coin. It lost more than 16% on Monday morning. What is CRO? Cronos (CRO) is the native digital currency of the Crypto.com Chain. The coin was launched as a part of the company’s vision of “putting cryptocurrency in every wallet.” The coin went live in November-December 2018. The coin was introduced to aid investors on Crypto.com Chain. They can stake their coins as validators on the platforms and earn fees for…

On Monday, crude oil prices dipped as fears about China’s slowing economic growth, the world’s leading oil consumer, outweighed expectations that supply would be hampered by a prospective European Union ban on Russian petroleum. At the time of writing, Brent crude prices were down by 2.5% to $104.44 a barrel, dropping by $2.70 in value. Meanwhile, West Texas Intermediate (WTI) oil futures were down 3% and traded at $101.52 a barrel, losing $3.17 in value. Moreover, markets in the United Kingdom, Japan, Southeast Asia, and India remained suspended due to official holidays. Due to COVID lockdowns, industrial production in China…

Opiant Pharmaceuticals, Inc. (NASDAQ: OPNT) today announced positive topline results from a pharmacodynamic study for OPNT003, nasal nalmefene, (3mg nalmefene hydrochloride), an investigational treatment for opioid overdose. In response to the aforementioned news, OPNT stock gained significantly today. Highlights Study compared OPNT003, nasal nalmefene, with 4 mg nasal naloxone hydrochloride in reversing the respiratory depression produced by remifentanil, a synthetic opioid.OPNT003 met the primary endpoint of non-inferiority, which was designed to assess whether nasal nalmefene performed as well or better than nasal naloxone.OPNT003 produced, at the primary end point of five minutes, a greater reversal in remifentanil-induced respiratory depression that…

Bristol Myers Squibb (NYSE: BMY) released its first-quarter FY22 earnings results before the market opened on Friday, April 29, 2022. The company beat the earnings estimates of $1.92 per share and reported an EPS of $1.96. Despite the strong earnings, the BMY stock lost value in the pre-market trading session. Financial Highlights Bristol Myers Squibb posted first quarter revenues of $11.6 billion, an increase of 5%, driven by in-line products (primarily Eliquis and Opdivo) and new product portfolio (primarily cell therapy products and Reblozyl), partially offset by Recent LOE Products (Revlimid and Abraxane) and foreign exchange impacts.U.S. revenues increased 10%…

Exxon Mobil Corporation (NYSE: XON) today announced first-quarter 2022 earnings of $5.5 billion, or $1.28 per share assuming dilution. The company successfully beat revenue estimates but failed to meet the earnings expectations. Therefore, the XON stock tumbled in the pre-market trading session today. Financial Highlights Earned $5.5 billion in first quarter 2022; generated $14.8 billion of cash flow from operating activities, more than covering capital investment and shareholder distributionsEarnings excluding identified items were $8.8 billion, an increase of more than $6 billion versus the first quarter of 2021, after adjusting for a $3.4 billion after-tax charge related to the company’s…