Corporate Profits Soar
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Tencent profits soar on its online advertising boom
Chinese internet giant focuses on other high-margin businesses as its blockbuster online games ageFinancial Times - World -
On Holding more than doubles profit
On Holding, the Swiss apparel maker backed by tennis legend Roger Federer, said its first-quarter profit more than doubled on strong direct-to-consumer sales.MarketWatch - Business -
In the Corporate Joust, Don’t Choose Jealousy
Go-getting colleagues can be so annoying — but try taking notes.The New York Times - Business -
Tencent Profit Jumps as High-Margin Businesses Grow
Chinese technology giant Tencent reported a sharp rise in profit for the first quarter, buoyed by rapid growth in its high-margin businesses.The Wall Street Journal - World -
Alibaba Quarterly Profit Sinks Despite Rise in Sales
Alibaba Group’s profit sank in the latest quarter, even as revenue rose on higher sales in its key e-commerce, cloud and logistics businesses.The Wall Street Journal - World -
Alibaba’s stock slumps after another profit miss
Alibaba edged past revenue expectations for its latest quarter but fell short on profit, sending its stock lower in Tuesday’s premarket action.MarketWatch - Business -
Alibaba Quarterly Profit Sinks Despite Rise in Sales
Alibaba Group’s profit sank in the latest quarter, even as revenue rose on higher sales in its key e-commerce, cloud and logistics businesses.The Wall Street Journal - Business -
Tencent Profit Jumps as High-Margin Businesses Grow
Chinese technology giant Tencent reported a sharp rise in profit for the first quarter, buoyed by rapid growth in its high-margin businesses.The Wall Street Journal - Business -
Walmart Plans Layoffs of Corporate Staff, Will Relocate Others
The retailer is asking most remote workers to move closer to major offices for hybrid work, employees in Dallas, Atlanta, and Toronto are asked to move to bigger hub office locationsin Arkansas, California, and New Jersey.Inc. - Business -
Walmart is laying off and relocating hundreds of corporate workers
Walmart is laying off hundreds of corporate workers across the country as it relocates many employees to its Arkansas headquarters.NBC News - Top stories -
GameStop Soars as Roaring Kitty Rekindles Meme Stock Mania
Keith Gill, the trader who helped turn the video game retailer into a high-flying “meme stock,” posted cryptic messages online after a three-year hiatus.The New York Times - Business -
GameStop, AMC Shares Soar as Meme-Stock Comeback Continues
Both stocks added about 40% premarket and were among the most heavily traded shares in off-hours action.The Wall Street Journal - World -
GameStop and AMC Shares Soar as Meme Stock Revival Continues
A heady market rally extended to a second day after Keith Gill, the trader known as Roaring Kitty who rallied small investors to buy out-of-favor stocks in the pandemic, returned to social media.The New York Times - Business -
GameStop still soaring on meme rally, but beware the end of the ‘buying frenzy’
Shares of GameStop Corp. have skyrocketed in the last two days, lifted by the return of influential investor and analyst Keith Gill to social media, but investors should beware the end of the “buying frenzy,” say experts.MarketWatch - Business -
Foxconn Posts Profit Surge as It Bets on AI for Long-Term Growth
The world’s largest contract electronics manufacturer backed its upbeat outlook for the year after posting a surge in first-quarter profit.The Wall Street Journal - World -
Sony Group Profit Jumps on Stronger Game, Movie Earnings
The Japanese entertainment and electronics company reported a fourth-quarter net profit beat.The Wall Street Journal - World - Entertainment -
Japan's Sony reports surge in profit on strong sales of movies, games and music
Sony has reported that its profit surged 34% in the last quarter from a year earlier on strong sales of its video games, music and moviesABC News - Entertainment -
Foxconn Posts Profit Surge as It Bets on AI for Long-Term Growth
The world’s largest contract electronics manufacturer backed its upbeat outlook for the year after posting a surge in first-quarter profit.The Wall Street Journal - Business -
Sony Group Profit Jumps on Stronger Game, Movie Earnings
The Japanese entertainment and electronics company reported a fourth-quarter net profit beat.The Wall Street Journal - Business - Entertainment -
‘Frankly stupid’: Fund manager weighs in on reignited meme stock frenzy as GameStop soars
Cole Smead, CEO of Smead Capital Management, told CNBC that it was "frankly stupid" that day traders were piling once again into GameStop and other meme stocks.CNBC - Business -
Tencent posts fastest profit growth in 3 years as online ads, business services offset slower gaming
Tencent saw slightly better performance in its core gaming business as well as improved profitability in its advertising and business services division.CNBC - Business -
Sony reports 7% drop in annual profit as PlayStation 5 sales miss trimmed target
Sony on Tuesday reported a 7% drop in annual profits in the fiscal year 2023, logging its first drop in annual profits since 2020.CNBC - Business -
These stocks could see ‘immense’ profits as Canada’s economy sinks, says veteran trader
Veteran trader Kevin Muir is really bearish on Canada, and offers a couple ways for investors to play that.MarketWatch - Business -
Alibaba shares fall 7% after the Chinese tech giant posts 86% drop in profit
Alibaba posted a beat on revenue in its fiscal fourth quarter ended in March, but the Chinese e-commerce giant's net profit plunged.CNBC - Business -
Amazon Gets New Cloud-Computing Boss as AI Battle Shakes Up Its Top Profit Engine
The chief executive of Amazon Web Services, Adam Selipsky, is stepping down and will be succeeded by Matt Garman, the company’s senior vice president of sales and marketing.The Wall Street Journal - World -
Walmart is laying off, relocating hundreds of corporate workers across the country. Read the memo
The move follows the closures of the company's health clinics and comes ahead of its earnings report on Thursday.CNBC - Business