Latest news with #YgalArounian
Bloomberg
04-04-2025
- Business
- Bloomberg
Stock Movers: Apple, Nike, Wayfair
On this episode of Stock Movers: - Apple (APPL) shares dipped after the company lost over $300 billion yesterday, second largest drop in market cap for any company ever. The drop comes as the company has moved its supply chain away from China but to countries that face high tariffs. - Nike (NKE) is continuing its slide as shoe and garment makers extended their selloff as they face tariffs on their Asian-made products. Apparel and footwear companies that shifted manufacturing from China to avoid tariffs are now being targeted by Trump's tariffs on Vietnam, Cambodia, Indonesia, and Thailand. - Wayfair (W) shares are sliding 11% in premarket trading putting the stock on track to extend declines after Citi downgraded the online furniture retailer to neutral from buy. Analyst Ygal Arounian said President Donald Trump's tariff announcement 'created significant exposure' to the supplier base of Wayfair, and sees eBay as better positioned. - Stellantis (STLA) shares are lower after about 6,000 workers in Canada were idled by day 1 of US tariffs. It comes along with reports of 900 US jobs cuts and Fitch downgrading the company's debt from BBB+ to BBB.
Yahoo
28-02-2025
- Business
- Yahoo
Stock market today: S&P 500, Nasdaq rise but major indexes set to end down week, month
US stocks inched higher Friday following a key inflation reading that largely met expectations and as fresh tariff threats added to uncertainty over Big Tech prospects. The S&P 500 (^GSPC) climbed 0.5%, while the tech-heavy Nasdaq Composite (^IXIC) was up about 0.6% after suffering a Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) added 0.2%. Markets are heading into the last trading day of February facing sharp weekly and monthly losses after suffering the buffets of tariff moves. The Nasdaq Composite (^IXIC) is on track to fall over 5% in February, while the S&P 500 (^GSPC) and Dow (^DJI) are eyeing drops of around 3%. Meanwhile, the benchmark S&P has seen daily drops of over 1% on three trading days this week. The January reading of Personal Consumption Expenditures index did its part to soothe some anxiety after recent data revived concerns about a slowdown in the economy and uptick in inflation. Annual "core" PCE — which strips out food and energy prices and is the Federal Reserve's preferred gauge of inflation — cooled to 2.6%, matching expectations. But consumer spending fell 0.2% last month, the data showed. That undershot economist forecasts for a rise of 0.1% and compared with a gain of 0.8% in December. Meanwhile, investors reeling from President Trump's fast-paced trade policy overhaul had to grapple with fresh tensions after China vowed to respond with "all necessary measures." Beijing's threat came after Trump said an extra 10% tariff on Chinese imports would take hold on Tuesday. He has also pledged to follow through on new duties on Mexico and Canada, and to impose tariffs on the EU. Also, the sell-off in bitcoin (BTC-USD) deepened as the token sank 7% to its lowest level since November. The cryptocurrency has dropped 25% from its record high amid a broader crypto rout. Redfin stock (RDFN) tumbled 13% on Friday after the online real estate company reported fourth quarter earnings that fell short of Wall Street's expectations and provided a discouraging outlook. The company posted a net loss of $0.29 for each share of common stock, worse than the $0.23 loss per share analysts expected. The revenue guidance for the next quarter, in a range of $214 million to $225 million, also didn't impress, coming below analysts' estimates of $244.4 million. This is a mixed report, and the outlook "was below on revenue and especially so on EBITDA," which 'is critical as Redfin has been keenly focused on reaching profitability since 2023 and not yet consistently reached,' Citi's Ygal Arounian wrote in a note to clients after the company's earnings. CEO Glenn Kelman remains optimistic despite ongoing housing challenges, expecting higher profits from the rental partnership with Zillow. 'One reason Redfin is focused on gaining market shares [is that] home sales are unlikely to significantly recover in 2025,' Kelman told analysts and investors on Thursday's earnings call. Stocks are pretty upbeat as they kick off the last trading day of February, with the major gauges — even the Nasdaq — all holding nicely in the green. But weeks of President Trump's tariff battering ram and confidence-cracking economic data have taken a toll. All sorts of assets look bruised when it comes to monthly performance. Here is where those markets are historically headed in the early going: On the plus side, Consumer Staples stocks look to be the biggest February winner in sectors. Organic egg giant Vital Farms (VITL) told investors on Thursday that the bird flu ripping through US farms right now will keep pressure on supply to start the year, but that shortages should ease later in 2025. "Industry supply will remain under pressure to start the year due to the impact of HPAI on poultry flocks across the United States," Vital Farms CEO Russell Diez-Canseco said in a release. "We have experienced supply constraints to start the year. However, as the year progresses, we believe the supply chain investments we made in 2024 and into 2025 will begin bearing fruit." In its fourth quarter ended Dec. 29, the company reported revenue rose 22.2% to $166 million. For the full-year, revenues tallied $606 million. The company expects full-year 2025 revenues to be "at least" $740 million. Shares were up as much as 5% early Friday. The stock has lost about 13% so far this year but is up close to 90% over the last 12 months. Egg shortages and a surge in egg prices have been one of the biggest economic stories for consumers to start 2025. In January, the average price of a dozen eggs in the US hit a record $4.95, up 15.2% over the prior month and 53% from the same month last year. And as politicians, economists, and investors learned vividly during the post-pandemic inflation boom, consumers dislike many things about inflation, but nothing stings quite like spiking grocery prices. Especially for a household staple like eggs. The Fed's preferred inflation gauge met estimates Friday with a reading that showed prices rose in January but cooled on an annual basis. The core Personal Consumption Expenditures (PCE) index, which strips out food and energy costs, rose 0.3% in January, Yahoo Finance's Jennifer Schonberger reports. On an annual basis, core prices rose 2.6%, which was in line with expectations and down from the 2.9% year-over-year increase in December. The PCE data should keep interest rates on hold when the central bank holds its next meeting on March 18-19. Friday's reading is expected to offer Fed officials solace after the January CPI data caused many policymakers to question whether the hotter-than-expected reading was a blip or a new trend. Read more here. An inflation reading that served to calm anxieties over pricing pressures did little to boost US stocks Friday, as the print met expectations but arrived amid fresh tariff threats, which added to uncertainty over Big Tech prospects. The S&P 500 (^GSPC) rose just over the flat line, while the tech-heavy Nasdaq Composite (^IXIC) was up about 0.5% after suffering an Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) added 0.2%. The January reading of Personal Consumption Expenditures index did its part to soothe some anxiety after recent data revived concerns about a slowdown in the economy and an uptick in inflation. Annual "core" PCE — which strips out food and energy prices and is the Federal Reserve's preferred gauge of inflation — cooled to 2.6%, matching expectations. The benchmark 10-year Treasury yield (^TNX) fell to a 2025 low this week, which, in theory, should have boosted the stock market, as bond returns appear less attractive and lower borrowing rates often lift earnings. Instead, the market has stalled, with the S&P 500 (^GSPC) returning a meager 0.3% gain year to date. Yahoo Finance's Allie Canal explains: Read more here. Yahoo Finance's Brian Sozzi writes: Read more about why Palantir stock has sold off here. Tesla (TSLA) shares have tumbled 30% this year and have wiped out nearly all of their post-Trump election gains. The stock is trading steady in premarket, following its 3% drop in Thursday's tech sell-off. Several factors are helping drive the retreat. Yahoo Finance's Pras Subramanian reports: Read more here. A fresh look at a key inflation measure will come with the January PCE release, expected at 8:30 a.m. ET on Friday. Yahoo Finance's Josh Schafer reports: Read more here. Economic data: PCE inflation (January); MNI Chicago PMI (February) Earnings: fuboTV (FUBO) Here are some of the biggest stories you may have missed overnight and early this morning: Elon Musk is putting his investors' faith to the test Nvidia CEO: Our auto business doubled — and it's just the start Retail giants face growing pushback over retreat from DEI Bitcoin down 25% from all-time high as crypto rout worsens Gold on track for worst week this year as investors book profits Steep drop in credit scores hits student loan borrowers Tencent fires up AI race with model it says outdoes DeepSeek Gold (GC=F) prices are falling as a rising dollar ( dents appetite for the precious metal. Bloomberg reports: Read more here. Bitcoin slid from an all-time high six weeks ago to the cryptocurrency's lowest trading point in months. Insecurity around President Donald Trump's tariff plans has pulled faith in the asset down alongside the world's largest cryptocurrency hack, which caused investors to seek safe-haven commodities. Reuters reports: Read more here. Duolingo (DUOL) Duolingo Inc., a language learning platform, reported fourth quarter results that surpassed analyst expectations. However, stock in the company dropped 8% in after-hours trading. Rocket Lab (RKLB) Aerospace and defense company Rocket Lab stocks cratered 13% on soft guidance despite the company announcing better-than-expected revenue for the quarter. SoundhoundAI (SOUN) SoundHound AI, specializing in voice artificial intelligence products, surpassed Wall Street's fourth-= quarter expectations late Thursday and raised its forecast for the full year of 2025. Soundcloud AI stock soared 9% in after-hours trading. Redfin stock (RDFN) tumbled 13% on Friday after the online real estate company reported fourth quarter earnings that fell short of Wall Street's expectations and provided a discouraging outlook. The company posted a net loss of $0.29 for each share of common stock, worse than the $0.23 loss per share analysts expected. The revenue guidance for the next quarter, in a range of $214 million to $225 million, also didn't impress, coming below analysts' estimates of $244.4 million. This is a mixed report, and the outlook "was below on revenue and especially so on EBITDA," which 'is critical as Redfin has been keenly focused on reaching profitability since 2023 and not yet consistently reached,' Citi's Ygal Arounian wrote in a note to clients after the company's earnings. CEO Glenn Kelman remains optimistic despite ongoing housing challenges, expecting higher profits from the rental partnership with Zillow. 'One reason Redfin is focused on gaining market shares [is that] home sales are unlikely to significantly recover in 2025,' Kelman told analysts and investors on Thursday's earnings call. Stocks are pretty upbeat as they kick off the last trading day of February, with the major gauges — even the Nasdaq — all holding nicely in the green. But weeks of President Trump's tariff battering ram and confidence-cracking economic data have taken a toll. All sorts of assets look bruised when it comes to monthly performance. Here is where those markets are historically headed in the early going: On the plus side, Consumer Staples stocks look to be the biggest February winner in sectors. Organic egg giant Vital Farms (VITL) told investors on Thursday that the bird flu ripping through US farms right now will keep pressure on supply to start the year, but that shortages should ease later in 2025. "Industry supply will remain under pressure to start the year due to the impact of HPAI on poultry flocks across the United States," Vital Farms CEO Russell Diez-Canseco said in a release. "We have experienced supply constraints to start the year. However, as the year progresses, we believe the supply chain investments we made in 2024 and into 2025 will begin bearing fruit." In its fourth quarter ended Dec. 29, the company reported revenue rose 22.2% to $166 million. For the full-year, revenues tallied $606 million. The company expects full-year 2025 revenues to be "at least" $740 million. Shares were up as much as 5% early Friday. The stock has lost about 13% so far this year but is up close to 90% over the last 12 months. Egg shortages and a surge in egg prices have been one of the biggest economic stories for consumers to start 2025. In January, the average price of a dozen eggs in the US hit a record $4.95, up 15.2% over the prior month and 53% from the same month last year. And as politicians, economists, and investors learned vividly during the post-pandemic inflation boom, consumers dislike many things about inflation, but nothing stings quite like spiking grocery prices. Especially for a household staple like eggs. The Fed's preferred inflation gauge met estimates Friday with a reading that showed prices rose in January but cooled on an annual basis. The core Personal Consumption Expenditures (PCE) index, which strips out food and energy costs, rose 0.3% in January, Yahoo Finance's Jennifer Schonberger reports. On an annual basis, core prices rose 2.6%, which was in line with expectations and down from the 2.9% year-over-year increase in December. The PCE data should keep interest rates on hold when the central bank holds its next meeting on March 18-19. Friday's reading is expected to offer Fed officials solace after the January CPI data caused many policymakers to question whether the hotter-than-expected reading was a blip or a new trend. Read more here. An inflation reading that served to calm anxieties over pricing pressures did little to boost US stocks Friday, as the print met expectations but arrived amid fresh tariff threats, which added to uncertainty over Big Tech prospects. The S&P 500 (^GSPC) rose just over the flat line, while the tech-heavy Nasdaq Composite (^IXIC) was up about 0.5% after suffering an Nvidia-led (NVDA) sell-off on Thursday. The Dow Jones Industrial Average (^DJI) added 0.2%. The January reading of Personal Consumption Expenditures index did its part to soothe some anxiety after recent data revived concerns about a slowdown in the economy and an uptick in inflation. Annual "core" PCE — which strips out food and energy prices and is the Federal Reserve's preferred gauge of inflation — cooled to 2.6%, matching expectations. The benchmark 10-year Treasury yield (^TNX) fell to a 2025 low this week, which, in theory, should have boosted the stock market, as bond returns appear less attractive and lower borrowing rates often lift earnings. Instead, the market has stalled, with the S&P 500 (^GSPC) returning a meager 0.3% gain year to date. Yahoo Finance's Allie Canal explains: Read more here. Yahoo Finance's Brian Sozzi writes: Read more about why Palantir stock has sold off here. Tesla (TSLA) shares have tumbled 30% this year and have wiped out nearly all of their post-Trump election gains. The stock is trading steady in premarket, following its 3% drop in Thursday's tech sell-off. Several factors are helping drive the retreat. Yahoo Finance's Pras Subramanian reports: Read more here. A fresh look at a key inflation measure will come with the January PCE release, expected at 8:30 a.m. ET on Friday. Yahoo Finance's Josh Schafer reports: Read more here. Economic data: PCE inflation (January); MNI Chicago PMI (February) Earnings: fuboTV (FUBO) Here are some of the biggest stories you may have missed overnight and early this morning: Elon Musk is putting his investors' faith to the test Nvidia CEO: Our auto business doubled — and it's just the start Retail giants face growing pushback over retreat from DEI Bitcoin down 25% from all-time high as crypto rout worsens Gold on track for worst week this year as investors book profits Steep drop in credit scores hits student loan borrowers Tencent fires up AI race with model it says outdoes DeepSeek Gold (GC=F) prices are falling as a rising dollar ( dents appetite for the precious metal. Bloomberg reports: Read more here. Bitcoin slid from an all-time high six weeks ago to the cryptocurrency's lowest trading point in months. Insecurity around President Donald Trump's tariff plans has pulled faith in the asset down alongside the world's largest cryptocurrency hack, which caused investors to seek safe-haven commodities. Reuters reports: Read more here. Duolingo (DUOL) Duolingo Inc., a language learning platform, reported fourth quarter results that surpassed analyst expectations. However, stock in the company dropped 8% in after-hours trading. Rocket Lab (RKLB) Aerospace and defense company Rocket Lab stocks cratered 13% on soft guidance despite the company announcing better-than-expected revenue for the quarter. SoundhoundAI (SOUN) SoundHound AI, specializing in voice artificial intelligence products, surpassed Wall Street's fourth-= quarter expectations late Thursday and raised its forecast for the full year of 2025. Soundcloud AI stock soared 9% in after-hours trading. Sign in to access your portfolio
Reuters
19-02-2025
- Business
- Reuters
Bumble shares slide after weak forecast signals slow dating app turnaround
Feb 19 (Reuters) - Bumble's (BMBL.O), opens new tab shares fell 16% on Wednesday after the dating app operator forecast first-quarter revenue below market estimates, as it continues to grapple with a slowdown in the growth of paying users. Shares of the Austin, Texas-based company have slumped about 40% over the past 12 months. Bumble recently announced executive changes including the return of its founder Whitney Wolfe Herd as its chief executive in March. Over the past year, the company has cut jobs, refreshed its Bumble app and expanded its signature "make the first move" feature to include " opening moves" that allow women to set a question that their potential matches can respond to for better conversations. "There's clearly more work to be done on the turnaround and we see visibility limited as management did not provide full-year guidance for the first time," Citi analyst Ygal Arounian said. The company is set to lose more than $142 million in market value, if premarket losses hold. As of last close, Bumble's valuation stood at $876.3 million compared with Tinder-parent Match Group's $8.85 billion. Bumble said it would discontinue its Fruitz and Official dating apps by the first half of this year. "As we prioritize the execution of the important work we're undertaking to reposition Bumble App, we have taken a hard look at how we're allocating our resources across our portfolio," said departing CEO Lidiane Jones. At least six brokerages cut their price target on Bumble after its latest earnings report. Bumble currently trades at 9.98 times the estimates of its earnings for the next 12 months, compared with 16.51 times for bigger rival Match Group (MTCH.O), opens new tab.
Yahoo
19-02-2025
- Business
- Yahoo
Bumble shares slide after weak forecast signals slow dating app turnaround
(Reuters) - Bumble's shares fell 16% on Wednesday after the dating app operator forecast first-quarter revenue below market estimates, as it continues to grapple with a slowdown in the growth of paying users. Shares of the Austin, Texas-based company have slumped about 40% over the past 12 months. Bumble recently announced executive changes including the return of its founder Whitney Wolfe Herd as its chief executive in March. Over the past year, the company has cut jobs, refreshed its Bumble app and expanded its signature "make the first move" feature to include "opening moves" that allow women to set a question that their potential matches can respond to for better conversations. "There's clearly more work to be done on the turnaround and we see visibility limited as management did not provide full-year guidance for the first time," Citi analyst Ygal Arounian said. The company is set to lose more than $142 million in market value, if premarket losses hold. As of last close, Bumble's valuation stood at $876.3 million compared with Tinder-parent Match Group's $8.85 billion. Bumble said it would discontinue its Fruitz and Official dating apps by the first half of this year. "As we prioritize the execution of the important work we're undertaking to reposition Bumble App, we have taken a hard look at how we're allocating our resources across our portfolio," said departing CEO Lidiane Jones. At least six brokerages cut their price target on Bumble after its latest earnings report. Bumble currently trades at 9.98 times the estimates of its earnings for the next 12 months, compared with 16.51 times for bigger rival Match Group.
