Stock Movers: Crocs Shares Rise, AppLovin Surges, Arm Drops After Downbeat Forecast
On this episode of Stock Movers: • Crocs shares rose after first quarter adjusted EPS and adjusted net income both beat estimates. However, the company withdrew its full year outlook for this year and said it won't provide full-year guidance at this time. • AppLovin jumped after the AI-powered ad platform reported results after the close Wednesday, with both first quarter EPS and net income beating estimates. The company also projects ad revenue to beat forecasts in 2Q. • ARM Holdings shares fell after first quarter sales forecast for $1 billion to $1.1 billion disappointed analysts. CEO Rene Haas blamed the miss on the timing of new agreements with customers, saying the outlook is conservative "to make sure we don't overreach." (Source: Bloomberg)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
36 minutes ago
- Forbes
What The CPI Inflation Numbers Mean For The Future
The Consumer Price Index numbers for May came out on Wednesday. The seasonally adjusted number was up 0.1% in May, a drop from April's 0.2%. except for March, it was the lowest monthly inflation figure since July 2024. Over the last 12 months, inflation was 2.4% before seasonal adjustment. There is volatility over time, but also a downward trend line, even if it hasn't dropped fast enough for people's tastes. Below is a graph from the Federal Reserve Bank of St. Louis, showing year-over-year comparisons. Year-over-year changes in the CPI Federal Reserve Bank of St. Louis The news was good, at least in theory and at a high level. At a more detailed look, perhaps not. Other issues — tariffs, rising deficit spending, and spending cuts for important common good activities — combine with inflation to create greater uncertainty in the near future and the potential for a recession. Here Are The CPI Details That Affect You CPI at the headline level sounds good. Details are, on the whole, more discouraging. Here are some product categories where inflation was much higher: All are necessities, if not for everyone, for many millions. Other items helped keep the headline inflation down: The moderating factors don't necessarily remove the burden of the items with greater inflation, depending on how households spend and experience inflation. Near Future Effects On Inflation 'Shelter and energy are going to keep the disinflation trend intact,' wrote Jamie Cox, managing partner for Harris Financial Group, in a note. 'Prices are moving down in two of the largest categories, so investors should expect further declines in inflation in the coming months. 'However, CPI remains above 2% and even though the tariff rates are going to be less than originally feared, after they are implemented, they will further increase the cost of goods,' wrote Chris Zaccarelli, chief investment officer for Northlight Asset Management, in a second note. 'Because of this and the tariff pause that's scheduled to be lifted next month, we are still cautious, but many of the risks that were present in early April, appear to be receding at this time.' As Oxford Economics noted, the May CPI data have been 'encouraging, but unlikely the new norm.' For example, the administration announced a temporary trade truce — again — with China following talks in London. This time, tariffs will be 55%. That's a blended number and includes 20% tariffs on fentanyl, a 10% reciprocal tariffs, and then an average 25% for tariffs already in place before this year, according to a MarketWatch report. The congressional spending bill is likely going to send spending and the deficit up, which will also provide inflationary pressure. While the headline numbers sound like a reprieve, it probably won't be ultimately.
Forbes
42 minutes ago
- Forbes
Microsoft Installs Emergency Update On Windows PCs
Emergency update is now being installed. Another month, another emergency update for Windows users. After issuing several out-of-band updates to address update fails in May (1,2), here we are again in June. Only now, 'this OOB update downloads and installs automatically,' Microsoft says. Per Windows Latest which was first to report the initial problem and the response, this follows the June update failing to install on some PCs, primarily those with Easy Anti Cheat gaming software. 'As we suspected, something seemed odd with Windows 11 24H2 KB5060842 when Microsoft had paused the rollout briefly.' That interlude allowed a patch to be applied to the standard update, but this didn't work. Instead Microsoft withheld the update from affected PCs, which will now receive the emergency update instead. 'Windows users likely didn't experience this issue,' the Windows-maker says, because the standard update was not offered to at-risk PCs. According to Windows Latest, users had reported that 'the update showed up, but kept failing with the message: 'Some update files are missing or have problems. We'll try to download the update again later. Error code: (0x80073712)'.' Microsoft then confirmed 'compatibility issues' and applied a fix. But when the fix also failed, 'Microsoft made the final call to yank the buggy patch (KB5060842) because it wouldn't install, and replace it with [the new emergency update] KB5063060.' It's now clear this 'major issue' with June's Patch Tuesday 'causes PCs to reboot unexpectedly when launching games using Easy Anti-Cheat, such as Fortnite.' The emergency replacement for the Patch Tuesday update includes all cumulative fixes as well as the compatibility workaround. Microsoft says the OOB update 'downloads and installs automatically from Windows Update and Microsoft Update on devices with Easy Anti-Cheat installed and on devices that have not installed KB506842 yet.'
Bloomberg
43 minutes ago
- Bloomberg
Trans Mountain Eyes Pipeline Capacity Increase by Early 2027
The Trans Mountain pipeline could handle an additional 75,000 barrels of crude a day by a early 2027, the government-owned company's top executive said, potentially helping Canadian oil producers expand shipments to non-US markets. Chemicals that make crude flow more easily through the line could be used in less than two years as a first stage of the capacity increase, Trans Mountain CEO Mark Maki told reporters at a conference in Calgary. After that, increased pumping power could boost flows to about 1.14 million barrels a day, but that would require dredging the nearby waterway to allow tankers to carry more oil.
