Glove Maker Hartalega's Profit Slumps as Competition Intensifies
Net income for its first quarter ended June fell to 12.6 million ringgit ($3 million), a decline of slightly more than 60% compared with a year ago. Revenue slipped 5.3% on-year to 553.1 million ringgit.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Why Upstart Stock Is Plummeting Today
Key Points Upstart reported its Q2 results and actually beat Wall Street's sales and earnings targets. The lending specialist also raised its full-year revenue target, but the stock is still getting crushed today. Investors are worried about inflation headwinds and competitive risks, but those who are risk tolerant may want to take a close look at the stock. 10 stocks we like better than Upstart › The stock of Upstart Holdings (NASDAQ: UPST) is sinking today following the company's recent earnings report. The fintech specialist's share price was down 18.2% as of 3:05 p.m. ET on Wednesday. Meanwhile, the S&P 500 was up 0.7%, and the Nasdaq Composite was up 1.1%. Upstart released its second-quarter results after the market closed Tuesday and reported sales and earnings for the period that came in significantly ahead of Wall Street's targets. The company also raised its full-year sales outlook, but some cautious commentary from management spurred a big sell-off today. Upstart sinks despite strong Q2 results By most measures, Upstart delivered a strong earnings update with its second-quarter release. The company posted earnings per share of $0.15 on sales of $257 million, crushing the average analyst estimate's calls for a per-share loss of $0.10 on sales of $225.4 million. Loans originated through the company's artificial intelligence (AI) lending platform rose 159% year over year to reach nearly 372,600, and overall revenue was up roughly 101%. Even though the business posted an operating loss of $4.5 million in the period, performance from investments delivered an unexpected profit in the quarter. Management even raised its full-year revenue outlook in conjunction with the report, but the beat-and-raise quarter hasn't been enough to prevent big sell-offs. What's next for Upstart? The company said that inflation continues to be a significant risk factor, and said it was seeing more competitive activity in the business' key service niches. On the other hand, it actually raised its full-year sales performance target to approximately $1.055 billion -- up from its previous guidance for about $1.01 billion. With the stock seeing a big pullback despite a strong second quarter and encouraging performance outlook for the rest of the year, today's trading could present a worthwhile buying opportunity for risk-tolerant investors. Should you buy stock in Upstart right now? Before you buy stock in Upstart, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Upstart wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $619,036!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,092,648!* Now, it's worth noting Stock Advisor's total average return is 1,026% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Upstart. The Motley Fool has a disclosure policy. Why Upstart Stock Is Plummeting Today was originally published by The Motley Fool
Yahoo
21 minutes ago
- Yahoo
Bumble beats second-quarter revenue estimates, appoints new CFO
(Reuters) -Bumble on Wednesday posted second-quarter revenue above Wall Street estimates, as the dating app begins to bear early fruits from its turnaround efforts. Shares of the company rose 2.4% in extended trading The company also appointed Kevin Cook as its new chief financial officer, effective August 12, succeeding interim CFO Ronald J. Fior. The company posted second quarter revenue of $248.2 million, compared with analysts' average estimate of $245.1 million, according to data compiled by LSEG. Sign in to access your portfolio
Yahoo
21 minutes ago
- Yahoo
Apple set to dodge bulk of India tariffs
Apple (AAPL) is set to largely escape the Trump administration's upcoming promise of 50% tariff on goods made in India destined for the US. A White House official confirmed Wednesday that Apple's semiconductor-powered devices, which include its iPhone, will be unaffected by Trump's 25% 'reciprocal' tariffs set to go into effect Thursday. The same goes for an upcoming promise of an additional 25% levy related to India's use of Russian oil that is set to be in place in about 3 weeks' time. IPhones and other similar products will be subject to a separate tariff authority which has not yet been unveiled. Apple said during its most recent earnings call that it made the majority of its US-bound iPhones in India. The news comes after The White House announced that Apple will announce an additional $100 billion investment in US manufacturing during a 4:30 pm ET press event Wednesday. That's in addition to the $500 billion Apple said earlier this year it would invest in the country. Trump has criticized Apple's decision to move manufacturing from China to India and not the US, saying during his May trip to the Middle East that he had a 'little problem' with CEO Tim Cook. Other Trump administration officials have also lambasted Apple for not producing its phones in the US, with trade adviser Peter Navarro calling it the 'longest-running soap opera in Silicon Valley,' during a July interview with CNBC. But according to experts, it would take years for Apple to stand up a smartphone supply chain base in the US. What's more, there are no phone manufacturers in the country and not enough workers to fill the necessary roles. Todd Weaver, developer of Purism's Liberty Phone, a privacy-centric smartphone that uses US-built electronics, says it took his company years to set up the facilities and source the necessary components to ensure the phone's processing and communications features all come from America. Even so, he explained, the phone's body is still made overseas. Apple began expanding its supply chain beyond China following the lockdowns and disruptions caused by the COVID-19 pandemic. But it started specifically concentrating US iPhone manufacturing in India to avoid Trump's tariffs on Chinese goods. Apple hasn't been entirely immune from the impact of tariffs, though. In Q3, the company said it took an $800 million hit from Trump's levies and it expects an additional $1.1 billion in charges in the fourth quarter. While Apple might be able to dodge tariffs on goods out of India, the company isn't entirely out of the woods. The Trump administration is expected to unveil the results of its Section 232 investigation into semiconductor tariffs, which could impact everything from smartphones to automobiles. The exact timing for the tariff announcement is still up in the air, but Trump has said he could reveal them as soon as next week. Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Sign in to access your portfolio
