stockmarket
Famed investor Jim Cramer is tapping on an over 20% hit to Nextracker Inc (NASDAQ: NXT) in recent weeks to build a position. Shares of the solar energy solutions company are roughly flat for the year. How many shares of Nextracker did Cramer buy?Jim Cramer pulled out of Foot Locker and used the proceeds to load up on 350 shares of Nextracker on Thursday. The Mad Money host also told members of his investment club today that he may choose to expand his stake in NXT over time. Cramer dubbed the Nasdaq-listed firm a leader in a rapidly growing market. He’s bullish on Nextracker also because its m...
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Nike Inc (NYSE: NKE) is losing in extended hours on Thursday after coming in shy of Street estimates for its fourth financial quarter. Shares of the footwear giant are still down close to 15% versus the start of 2024. Notable figures in Nike Q4 earnings releaseEarned $1.5 billion versus the year-ago $1.03 billionPer-share earnings also improved from 66 cents to 99 centsAdjusted EPS printed at $1.01 as per the earnings reportRevenue inched down 2.0% year-over-year to $12.6 billionConsensus was 84 cents a share on $12.86 billion in revenueNike reported a 110 basis points increase in gross margin...
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Carvana Co (NYSE: CVNA) has roughly tripled this year but a JPMorgan analyst remains convinced it’s not out of room to run just yet. We come away from CVNA’s Rocklin, CA, IRC tour with higher conviction in our above consensus EBITDA. Carvana stock could climb to $150Rajat Gupta continues to rate CVNA at “overweight” and sees upside in its shares to $150 that translates to another 20% upside on their previous close. The analyst cited positive outlook and recent operational efficiencies for his positive view on Carvana stock in a research note on Thursday. More importantly, he expects efficiency...
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Chewy Inc (NYSE: CHWY) rallied about 20% this afternoon after Roaring Kitty (Keith Gill) posted a picture of a dog on X.com. Shares of the pet food and products retailer have now more than doubled versus their year-to-date low in late March. Chewy stock gains retail investors’ attentionThe equity market has been closely following updates from Roaring Kitty who inspired the historic short squeeze of 2021. His posts resulted in a massive increase in the GameStop stock price in recent months as well. Chewy shares became a target of the meme trade today after what was a rather quiet week for the r...
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In a strategic move to bolster its infrastructure and expand its capacity, Bitcoin miner CleanSpark Inc. (NASDAQ: CLSK) has announced that it will acquire GRIID Infrastructure Inc. (NASDAQ: GRDI) in an all-stock transaction valued at $155 million. This acquisition, which includes the assumption of GRIID’s debt, is set to significantly enhance CleanSpark’s operational capacity and market presence, particularly in Tennessee. Details of the acquisition dealCleanSpark’s acquisition of GRIID Infrastructure marks a significant milestone in its expansion strategy. The deal comes on the backdrop of Cl...
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Bybit, one of the world’s top three cryptocurrency exchanges by trading volume, has experienced a significant surge in market share according to Kaiko’s latest data debrief report. The report highlights Bybit’s impressive growth, especially after launching spot Bitcoin ETFs in the US, positioning it as a major player in the global crypto trading landscape. Since October, Bybit’s market share has surged from 8% to 16%, surpassing Coinbase in March to become the second-largest exchange after Binance. This growth has been driven by increased trading volumes, spurred by the introduction of Bitcoin...
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Shares of Walgreens Boots Alliance Inc. experienced a significant drop on Thursday following the release of its earnings report, plummeting to levels not seen since 1997. The company attributed the decline to persistent pressures on the US consumer and adverse marketplace dynamics that have negatively impacted pharmacy margins. Earnings report and store closures CEO Tim Wentworth highlighted the challenging operating environment, which has forced Walgreens to make substantial adjustments. As part of its strategic response, the company plans to close approximately 8,600 stores across the United...
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BlackBerry Ltd (NYSE: BB) saw its stock soar more than 8% in pre-market trading today, following a robust Q1 2024 earnings report released yesterday after markets closed for trading. This surge was driven by the company’s impressive revenue performance, which beat expectations and underscored the progress BlackBerry is making toward profitability. The company reported a Q1 revenue of $144 million, surpassing analyst estimates by nearly $10 million, despite a year-over-year decline of 61%. Blackberry Q1 earnings performance Despite the positive revenue performance, BlackBerry reported a non-GAA...
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Walgreens Boots Alliance Inc (NASDAQ: WBA) trading down this morning after reporting weaker-than-expected financial results for its third quarter. Shares of the healthcare giant are now down close to 50% for the year. Walgreens stock sinks on disappointing guidanceWalgreens stock is in the red at writing also because its management lowered its guidance. The multinational now forecasts its adjusted per-share earnings to fall between $2.80 and $2.95 in fiscal 2024. Analysts, in comparison, were at $3.20 per share. Tim Wentworth – the chief executive of Walgreens Boots Alliance said in a press re...
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Toyota Motor Corp., Denso Corp., and Toyota Industries Corp. have announced plans to sell shares worth approximately ¥178 billion ($1.1 billion) in Aisin Corporation. The decision is part of a broader strategy to enhance capital efficiency and drive future growth for the group while maintaining strong capital ties. Sale to fund strategic investmentsThe trio’s move to offload shares in Aisin is aimed at helping Toyota to invest in key growth areas. Toyota said in a statement: AISIN will continue to strengthen the Toyota Group’s competitiveness by utilizing its wide range of hardware and softwar...
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