Author: niveditha

The much-awaited Tesla AI Day kick starts today even as it faces a federal investigation into the safety of its “Autopilot” mode. The second edition, ‘AI day’, hopes to give fans and investors an insight into plans for a more automated future. On August 19, Tesla founder and CEO Elon Musk announced the event via his Twitter. While Musk did not reveal what to expect from the event, his only explanation came from a response tweet to another user. In it, he said the sole goal of Tesla AI Day is to recruit “the best AI talent to join Tesla.” According…

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Bitcoin’s price slipped by more than 1% today to $44,833.46. The market cap of the popular cryptocurrency fell to $843.43 billion, a decrease of 1.21%. Bitcoin’s trading volume reduced by 11.14% in the last 24 hours. Bitcoin’s dominance is currently 43.86%, a decline of 0.47% over the day. The cryptomarket were mixed on a 24-hour basis, with Ethereum declining 1.56% to $3,010. Dogecoin, on the other hand, gained 2.05 % to trade at $ 0.33. A day earlier, it had slipped 14.29% to $0.2881. Cardano gained by 5.6 % in the last 24 hours. While Polkadot gained 0.06% to $24.19, Litecoin declined 2% to $167.54. XRP gained 12 % in…

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Kohl’s Corporation (NYSE: KSS) announced its second-quarter results on Thursday before the market opened. It reported a net profit of $382 million. On a per-share basis, the Menomonee Falls, Wisconsin-based company said it had profit of $2.48 beating Wall Street expectations. Key Highlights Second quarter net sales and earnings exceed expectations and company raises full year 2021 financial outlookSecond quarter net sales increase 31.4%Record second quarter diluted earnings per share of $2.48 and company raises full year 2021 guidance to $5.80 to $6.10Strengthened financial position during the quarter, ending with $2.6 billion in cashRepurchased $255 million of shares in the quarter and…

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Victoria’s Secret & Co. (NYSE: VSCO) is scheduled to announce its second-quarter results on August 18 after the market close. In its first financial report, Victoria’s Secret said it earned $151.1 million, or $1.71 a share, in the second quarter, contrasting with a loss of $199.5 million, or $2.26 a share, in the year-ago period. Net sales rose to $1.61 billion, from $1.07 billion a year ago. Second-quarter 2021 sales were down 10% from sales of $1.79 billion in the second quarter of 2019 and reflect a net closure of 240 company-operated stores since the second quarter of 2019, the company…

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Cisco Systems, Inc. (NASDAQ: CSCO) is reported its fourth quarter and fiscal year 2021 financial results for the period ending July 31, 2021.The networking giant reported double-digit order growth across all customer markets and geographies, including product order growth of 31 percent — its strongest year-over-year growth in over a decade.  Cisco’s Q4 non-GAAP earnings per share came to 84 cents on revenue of $13.1 billion up 8% year-over-year. For the full fiscal year, Cisco’s non-GAAP EPS was flat year-over-year. Revenue was $49.8 billion, up 1% year-over-year. Cisco reported continued momentum in transforming the business to delivering more software and subscriptions.…

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Robinhood Markets, Inc. (NASDAQ: HOOD) is scheduled to announce its second-quarter results on Wednesday after market close.   Here’s what analysts expect, in line with estimates compiled by Seeking Alpha   Earnings: -0.26, estimated  Revenue: 559.55 million, estimated   Robinhood’s Projected Q2 results Revenue: $546 – $574 million Operating expenses: $536- $486 million Net income (loss): $537 – $487million  Other Data Adjusted EBITDA (non-GAAP): $59 – $103 million  Monthly Active Users (MAU): 21.3 million Earnings History The millennial-favoured stock trading app, Robinhood, reported a net loss per share of $6.26 in the first quarter compared to $0.23 posted in Q1 FY 2020. The company, however, profited significantly from customer trades. According to a recent Securities and Exchange Commission (SEC) regulatory filing, the business collected $331…

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World’s largest traded cryptocurrency; bitcoin, slipped over 5% today. The price of bitcoin was $44,840.53 at the time of writing. The market cap of the cryptocurrency fell to $842.42 billion. Other popular cryptocurrencies, too, were trading in the red today. Ethereum fell 8.40% to $3,011, and Dogecoin slipped 14.29% to $0.2881. Cardano declined by 6.9% in the last 24 hours.   The global crypto market cap stands at $1.89T, a 6.95% decrease over the last day. According to CoinMarketCap, the total crypto market volume in the previous 24 hours is $123.64 billion, making a 0.54% decrease. The total volume in Defi is currently $17.13B, 13.86% of the total crypto market 24-hour volume. …

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Target Corporation (NYSE: TGT) reported its Q2 earnings on Wednesday before the market opened.  Target said that second quarter comparable sales rose 8.9%, fuelled by a 12.7% increase in the number of transactions. The average transaction amount fell 3.4% after rising 18.8% last year as consumers stocked up on essentials at the height of the pandemic. Net Sales: $25.16 billion vs. $24.84 billionComparable Sales: +8.9% vs. +8.2% (Walmart U.S. 2Q21: +5.2%)Gross Profit Margin: 30.4% vs. 30.5%Operating Margin: 9.8% vs. 9.1%Adjusted Diluted EPS: $3.64 vs. $3.40 (consensus range: $3.11 to $4.10) Key Highlights: Second quarter comparable sales grew 8.9 percent, on top of record growth of…

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Krispy Kreme (NASDAQ: DNUT) will post second-quarter earnings on Tuesday after market closed. The Company reported 43% net revenue growth and organic growth of 23%, following strong performance across all business segments. On a two-year stack basis, organic revenues grew 16% since 2019. Key highlights: Organic revenue growth negatively impacted by $27.1 million in Q2 2021 and $57.9 million in the first half of 2021 due to exit of the legacy wholesale business.Non-GAAP figures – please refer to Reconciliation of Non-GAAP Financial Measures.Does not include legacy DSD doors as it only includes “fresh” points of access.Organic Revenue Growth “% vs 2019” figures are calculated…

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Walmart Inc. (NYSE: WMT) reported its second-quarter earnings results on Tuesday, before the market opened. For the quarter, closely-followed same-store sales came in at 5.2%, compared to forecasts of growth of 3.12%. On a two-year stack, the U.S. comp sales grew 14.5%. Adjusted EPS: $1.78 v. $1.57 estimateRevenue: $141 billion v. $136.78 billionWalmart U.S. comp-store sales (excluding gas): 5.2% v. 3.12% estimateWalmart U.S. e-commerce sales: 6% Walmart noted that the better-than-expected comp sales reflect “strong underlying business trends, a robust U.S. economy and stimulus spending.” The retailer added that comp sales gains increased each month in the quarter, with the…

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