Trendy News : February 2022

Monday, 28 February 2022

EV start-up Lucid slashes 2022 vehicle production forecast, causing shares to plummet

The company cited supply chain constraints for slashing production expectations to between 12,000 and 14,000 vehicles, down from 20,000 units.

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Zoom provides disappointing revenue forecast for first quarter and full year

Zoom's revenue growth is continuing to slow after its business surged during the first year of the Covid-19 pandemic.

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Saturday, 26 February 2022

Berkshire's operating earnings surge as Buffett repurchases record $27 billion in stock during 2021

Berkshire used $6.9 billion to buy back shares in the fourth quarter, bringing the total in share repurchases to a record $27 billion for 2021.

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Warren Buffett in annual letter calls Apple one of 'Four Giants' driving the conglomerate's value

In his annual letter to Berkshire shareholders on Saturday, Buffett called Tim Cook's Apple his "runner-up Giant" next to the cluster of insurers.

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Read Warren Buffett’s annual letter to Berkshire Hathaway shareholders

Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday.

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Friday, 25 February 2022

Foot Locker shares sink after retailer says 2022 sales will fall as it expects to sell fewer Nike products

Foot Locker shares are tumbling after the retailer forecast revenue to drop in 2022.

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Thursday, 24 February 2022

Beyond Meat shares tumble after reporting wider-than-expected loss, shrinking revenue

Beyond Meat's stock tumbled after the company reported a wider-than-expected loss for its fourth quarter.

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Zscaler tumbles after issuing light earnings forecast

Zscaler showed the fastest revenue growth in three years as its stock initially moved higher thanks to conflict-related buying activity on Thursday.

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Etsy shares soar after earnings beat

Etsy on Thursday reported fourth quarter results that beat on both the top and bottom line.

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Coinbase posts big revenue beat but expects trading volume to fall in Q1

Coinbase's earnings come after major cryptocurrencies saw a weak month in December despite an overall explosion in value in 2021.

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Alibaba falls 8% after it reports slowest ever revenue growth and misses expectations

Alibaba reported its slowest quarterly revenue growth in the December quarter since going public in 2014.

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Moderna expects at least $19 billion in Covid vaccine sales in 2022, reports big fourth-quarter earnings beat

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Wednesday, 23 February 2022

EBay stock sinks after the company gives disappointing guidance

EBay gave first-quarter earnings and revenue guidance that fell short of Wall Street's expectations.

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Allbirds shares fall as sneaker retailer reports widening losses, despite 23% jump in sales

Allbirds shares tumbled, despite the sneaker retailer reporting sales that outpaced analysts' estimates and offering an upbeat full-year outlook.

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Lowe's raises its earnings forecast as a tight housing market, older homes fuel projects

Lowe's raised its forecast for the full year and surpassed Wall Street's earnings estimates for the fiscal fourth quarter.

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Barclays full-year net profit quadruples as corporate and investment bank booms

Barclays on Wednesday reported a full-year net profit of £6.38 billion ($8.67 billion) for 2021, ahead of analyst expectations of £5.75 billion.

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Tuesday, 22 February 2022

Krispy Kreme reports first quarterly profit since going public, fueled by strong holiday sales

Krispy Kreme reported its first quarterly profit since going public again but fell short of Wall Street's expectations for its earnings.

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Macy's earnings top estimates, retailer says it won't spin off e-commerce from stores

The department store chain is rejecting calls from activist firm Jana Partners for it to split its e-commerce operations from its stores.

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Home Depot beats estimates, retailer says it sees sales growth ahead for 2022

The home improvement retailer is gearing up for spring and trying to prove to investors it can keep momentum going.

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Beam Suntory CEO says 2021 sales rose 11%, as shift to high-end spirits pays off

Beam Suntory's shift toward high-end spirits is paying off, driving sales up 11% in 2021 and allowing the company to raise prices to fight inflation.

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Friday, 18 February 2022

DraftKings shares fall 20% on 2022 outlook

DraftKings reported an adjusted EBITDA loss for 2022 that was much higher than analysts had anticipated.

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Luxury goods group Kering confident Gucci sales growth will continue after bumper 2021 revenues

Kering CEO Francois-Henri Pinault told CNBC he's confident Gucci will continue to deliver growth for the company this year, following record revenues in 2021.

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Roku drops sharply on disappointing revenue and guidance

Roku's revenue growth is slowing down after the pandemic brought more business from advertising and streaming device sales.

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Thursday, 17 February 2022

Palantir shares drop more than 13% after earnings

The company beat revenue estimates but missed earnings expectations for the fourth quarter.

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Walmart is set to report earnings before the bell

The retailer will report its holiday quarter and act as a bellwether of inflation.

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DoorDash stock pops 30% on revenue beat, strong order numbers

The food delivery company reported better-than-expected revenue for the fourth quarter, as well as total orders that topped analysts' expectations.

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Wednesday, 16 February 2022

Nvidia provides strong revenue outlook on demand for computer chips

Nvidia reported fourth-quarter earnings on Wednesday.

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Cisco rises on sunny outlook for the rest of its fiscal year

Cisco topped estimates in its largest segments, but the company's Hybrid Work segment that includes Webex came in lower than expected as revenue declined 9%.

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Tuesday, 15 February 2022

Shares of metaverse company Roblox plummet after missing fourth quarter expectations

Roblox missed Wall Street expectations on both the top and bottom lines in the fourth quarter.

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Airbnb beats on earnings and gives strong guidance

Airbnb beat Wall Street estimates on earnings and revenue in its fourth quarter, as the travel company continued to rebound from the Covid-19 pandemic.

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Burger King parent's earnings top estimates, fueled by digital sales growth

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Friday, 11 February 2022

China's biggest chipmaker SMIC posts record revenue despite U.S. sanctions

SMIC, China's largest chipmaker, is seen as a key player in Beijing's ambitions to become more self-sufficient in the semiconductor industry.

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Under Armour earnings top estimates, but shares fall as supply chain issues hurt growth

Under Armour shares are falling despite the retailer reporting fiscal fourth-quarter earnings and sales ahead of analysts' estimates.

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Affirm shares plummet 21% after company releases financial results early

Affirm is one of several hot "buy now, pay later" companies, which offer short-term and low-interest loans to users when they buy consumer goods online.

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Zillow soars on upbeat outlook and faster-than-expected selloff of homes in portfolio

Zillow said on Thursday in its fourth-quarter earnings report that its winding down its home-flipping business at a rapid clip.

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Thursday, 10 February 2022

Credit Suisse ends tumultuous year with big loss as litigation costs bite

Credit Suisse said it took "major litigation provisions" of 1.1 billion Swiss francs in 2021.

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Societe Generale beats expectations to post its best annual performance ever

Societe Generale CEO said 2021 "marks a milestone" for the bank.

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Oil major TotalEnergies swings to profit thanks to surging commodity prices

The oil and gas giant said full-year 2021 net profit came in at $18.1 billion. That compared with a profit of $4.1 billion the previous year.

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Wednesday, 9 February 2022

Uber beats on revenue, says core business is bouncing back after omicron surge

Uber beat analyst estimates on revenue for the quarter and said it's starting to bounce back from headwinds caused by the omicron coronavirus surge.

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Twilio spikes after major revenue beat and bold quarterly guidance

The cloud communications software company announced almost 10% more revenue than analysts had expected for the fourth quarter.

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Disney set to report earnings after the bell

Disney is set to report earnings for its fiscal first quarter of 2022 after the bell on Wednesday.

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Taco Bell parent Yum Brands misses earnings estimates as higher costs weigh on profits

Taco Bell, KFC and Pizza Hut all saw company restaurant margins shrink during the quarter.

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CVS fourth-quarter earnings top expectations as Covid vaccines lift overall store sales

CVS Health said demand for Covid vaccines and at-home tests lifted overall store sales, helping the company top expectations for fourth-quarter earnings.

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Adyen shares surge 11% after Dutch payments giant smashes earnings expectations

Dutch payments processor Adyen reported a 51% jump in core earnings in the first half of 2021, topping expectations and sending its stock price sharply higher.

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Tuesday, 8 February 2022

Lyft posts revenue beat but falls short on riders

Lyft reported 18.73 million active riders in the last quarter of 2021.

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Enphase Energy jumps after company posts record revenue, gives upbeat guidance

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Chipotle Mexican Grill is about to report earnings. Here's what to expect

Shares of Chipotle have fallen 3% over the last 12 months, giving the company a market value of $40.9 billion.

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Peloton slashes its full-year revenue outlook as company overhauls C-suite, cuts 2,800 jobs

Peloton on Tuesday slashed its financial outlook for the full year as the company announced CEO John Foley will be stepping down.

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Oil giant BP reports highest profit in 8 years on soaring commodity prices

BP's results come at a time when millions of U.K. households are facing a record-breaking increase in their energy bills amid a cost of living crisis.

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BNP Paribas earnings beat expectations with 'strong momentum' in domestic markets

"We followed the buoyant economy," CFO Lars Machenil told CNBC as the results were published.

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Thursday, 3 February 2022

Amazon shares soar on cloud revenue beat and huge profit gain from Rivan stake

Amazon on Thursday reported a big beat on the top line in its fourth quarter results, driven by a gain on its stake in electric vehicle company Rivian.

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Ford is set to report results after the bell. Here's what Wall Street expects

Wall Street analysts estimate Ford will post a profit of 45 cents per share in adjusted earnings and $35.5 billion in revenue.

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Oil major Shell reports sharp upswing in full-year profit, raises dividend and buybacks

Shell announced an $8.5 billion share buyback program in the first half of 2022 and expects to raise its dividend by 4% to $0.25 per share in the first quarter.

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Wednesday, 2 February 2022

Qualcomm beats expectations for revenue and earnings, sales up 30%

Qualcomm said it expected between $10.2 billion and $11 billion in sales in the upcoming quarter, ahead of analyst estimates of $9.6 billion.

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Spotify stock plunges on middling user growth projections

In Q1 2022, Spotify expects to report 418 million monthly active users. Analysts anticipated guidance of 417.8 million, according to StreetAccount.

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Facebook set to report fourth-quarter earnings after the bell

Facebook became Meta late last year and is now reporting results for the first time under the new name, which is a nod to its push into the metaverse.

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