Uniqlo owner’s shares slump after Q1 net profit falls 9.1%
Fast Retailing Co. shares 9983, -7.95% fell sharply Friday morning after its first-quarter net profit dropped 9.1% from a year earlier due to higher costs and weaker sales in China. The shares were recently 6.9% lower at 74,340 yen after falling as much as 7.1% earlier. The owner of Uniqlo said that net profit for […]
Inari Amertron falls after report that Apple plans to drop broadcom chip
Shares of Inari Amertron Bhd. fell as much as 8.9% in early trade following a report that Apple Inc. plans to cease using some parts from major chip suppliers, including Broadcom Inc., by 2025. Shares of the Malaysia’s leading outsourced semiconductor assembly and test provider 0166, -5.71% dropped to 2.57 ringgit (59 U.S. cents) on […]
XPeng stock just misses a record selloff, snaps 5-day win streak
The U.S.-listed shares of XPeng Inc. plunged Friday to snap a five-day win streak, as price cuts by Tesla Inc. in China soured sentiment toward China-based electric vehicle makers. The stock XPEV, -15.04% was down as much as 17.2% at its intraday low of $9.85, before recovering slightly to close down 15.04% at $10.11. It […]
Macy’s stock slides as holiday lulls weigh on sales forecast and execs predict difficulties into 2023
Shares of Macy’s Inc. slid as much as 8% in after-hours trading on Friday after the department-store chain gave a more downbeat forecast on its fourth-quarter sales, with management citing big “lulls” in the holiday-shopping season and saying customers would likely feel the squeeze from inflation into next year. The chain issued the sales and […]
Why Snowflake shares can survive a tough winter, according to Wells Fargo
Snowflake Inc. shares have dropped almost 60% over the past 12 months amid concerns about software valuations as well as the outlook for consumption-based software companies in a choppier economic environment, but Wells Fargo’s Michael Turrin thinks that the data-warehousing name can still thrive. He initiated coverage of Snowflake’s SNOW, +1.55% stock with an overweight […]
Credit Acceptance shares tumble 12% after regulators sue, claim illegal subprime auto lending practices
Shares of subprime auto giant Credit Acceptance Corp CACC, -11.61% tumbled about 12% on Wednesday after New York Attorney General Letitia James and a key U.S. consumer watchdog sued the lender, saying it has been illegally tricking low-income borrowers into high-cost car loans that lead to a debt spiral. The lawsuit aims to force Credit […]