2021

It’s game on for GameStop shares this morning. As of the time of this writing, GME stock is up over 51% in premarket trading, taking the share price to $26.70—its highest point since November 2022. The reason? On Tuesday, GameStop posted a quarterly profit for the first time in two years. And it was for the all-important holiday quarter in which investors had hoped that parents would rush out to GameStop locations to get presents for under the tree. But it doesn’t seem that scenario played out as much as hoped, given net sales were actually down year-over-year in Q4 2022 to $2.226 billion (from $2.254 billion a year before). However, net income was actually up year-over-year. During the quarter, GameStop’s income reached $48.2 million. The rising profits were helped in part by lowering expenses. And sure, $48.2 million is a pittance for many larger companies, but a year earlier, GameStop had seen a Q4 net loss of $147.5 million. In other words, the company turned … [Read more...] about What’s happening with GameStop? The retailer’s stock price is on the rise after surprise profit

In 1906, a German psychiatrist and neuroanatomist performed an autopsy on the brain of a patient who displayed abnormal symptoms while alive. Over the course of several years, this woman’s behavior, as well as her speech and language, became erratic. She forgot who people were, became paranoid, and, as her condition worsened, suffered total memory loss. When her doctor dissected her brain, he found unusual plaques and neurofibrillary tangles in her cerebral cortex. He quickly alerted his colleagues of this “peculiar severe disease.” The doctor was Alois Alzheimer. More than a century later, the medical community is still trying to understand Alzheimer’s disease (AD), a neurodegenerative brain disorder. But early studies have demonstrated that we may be able to mitigate some of the damage created by AD simply by exposing people to certain waves of sound and light. This research is part of the growing discipline of neuroaesthetics, or the study of how the arts and … [Read more...] about How simple sound and light are treating Alzheimer’s Disease

This year, women make up 28% of the 118 th Congress , the highest percentage in the history of the United States. That is three points higher than the percentage of women in the 117 th Congress in 2021, which had previously held the record. Women in political leadership positions are on the rise—but we still have a long way to go to reach true equality. She Should Run, a nonprofit working to increase the number of women running for political office, surveyed 419 women across the U.S. to understand what motivates women to run for office. They combined their results with data from the YWCA’s 2022 Midterm Election Study and the UN’s Women at the Frontline of Climate Change research. Here’s what they found: Women are not happy about the current state of affairs: 22.4% of women are motivated to seek office. The two main motivators for those women are either being passionate about a particular issue, or having a history of doing impactful work in the community. … [Read more...] about Nearly a quarter of U.S. women want to run for political office

HOUSTON  – Oil prices rose more than 2 percent on Tuesday, extending a retreat from a 15-month low hit the previous day, as the rescue of Credit Suisse allayed concerns of a banking crisis that would hurt economic growth and cut fuel demand. Measures to stabilize the banking sector, including a UBS takeover of Credit Suisse and pledges from major central banks to boost liquidity, have calmed fears about the financial system that roiled markets last week. “Fears of a banking crisis and a recession have eased, brightening the oil demand outlook at least for now,” said Fiona Cincotta, Senior Financial Markets Analyst at City Index. Brent crude settled up $1.53, or 2.1 percent, at $75.32 a barrel, while U.S. West Texas Intermediate (WTI) closed up $1.69, or 2.5 percent to $69.33. On Monday, both benchmarks ended about 1 percent higher after falling to their lowest since December 2021, with WTI sinking below $65 at one point. Last week, they shed more than 10 percent as the banking … [Read more...] about Oil rises 2% in retreat from 15-month low as banking fears subside

MANILA, Philippines  – Three of the largest export trade associations in the country are urging the government to make good on its promise to resolve the issues concerning their zero value-added tax (VAT) rating incentive, saying they are still awaiting resolution less than two weeks before the given time. A joint statement released by the IT and Business Process Association of the Philippines (IBPAP), Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI), and the Confederation Wearables Exporters of the Philippines (CONWEP) said that a solution has been promised by the end of the month, which also coincides with the end of the first taxable quarter. “The understanding of the sectors is that most of the government agencies involved in resolving the issue believe that there is clear basis for all purchases of exporters to be without the 12 percent VAT, given that this is not only allowed by the rules but is more importantly critical in ensuring that the … [Read more...] about PH exporters urged gov’t to address VAT exemption issue

Federal Reserve Chair Jerome H. Powell testifies before a U.S. Senate Banking, Housing, and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress” on Capitol Hill in Washington, U.S., March 7, 2023. REUTERS/Kevin Lamarque WASHINGTON  – The Federal Reserve is expected to raise interest rates by a quarter of a percentage point on Wednesday, a decision that will land amid a brewing political storm over the U.S. central bank’s oversight of collapsed Silicon Valley Bank and with the financial world hanging on the words of one man: Jerome Powell. In the second institutional crisis faced by Powell during his five-year tenure as Fed chief, SVB’s March 10 failure has drawn scrutiny across the political spectrum, with calls to reform the central bank’s governance and oversight reminiscent of what happened after a furor over Fed officials’ stock trading erupted in 2021. Two of the Fed’s 12 regional bank presidents resigned as a result of that scandal and … [Read more...] about Fed’s Powell faces political storm, policy minefield over SVB oversight

People shop to buy fruits and vegetables at a stall in Lewisham Market, south east London, Britain, March 9, 2023. REUTERS/Hannah McKay LONDON  – British inflation unexpectedly rose to 10.4 percent in February, pushed up by higher food and drink prices in pubs and restaurants, according to official data which is likely to prompt the Bank of England to raise interest rates on Thursday. Economists polled by Reuters had forecast that the annual consumer price inflation rate would drop to 9.9 percent in February from January’s 10.1 percent and move further away from October’s 41-year high of 11.1 percent. The figures – including increases in underlying inflation measures that the BoE closely monitors – are likely to bolster the concerns of those BoE policymakers who worry that inflation will be slow to fall, even after 10 straight rate hikes. Investors had been split on whether the central bank would pause that run after the recent upheaval in the global banking sector. But … [Read more...] about UK inflation surprise pressures Bank of England to raise rates again

Morgan Wallen’s latest single “Last Night” hit number one in March, and the liberal media are losing their minds over how successful he’s become without their support. Wallen is one of the top-selling artists of all time, having broken record after record with his last two albums “Dangerous: The Double Album” and the recent “One Thing At A Time.” The stunning success is no surprise to anyone who has actually listened to Wallen’s music (it’s freaking incredible). But after his almost-cancellation in 2021, the liberal media are refusing to accept Wallen’s talent and apologies. He was caught on a video using a racial slur, leading many of his media supporters to drop him. Wallen spent a huge amount of time rebuilding his career. He understood the damage he caused, and apologized emphatically for his prior ignorance. Still, people like Slate Magazine’s Chris Molanphy basically said the only reason millions of people adore Wallen’s work is because we’re trying to “own the … [Read more...] about Media Loses It Over Morgan Wallen’s Latest Number One Hit

Share to Twitter Share to Linkedin Tencent Q4 Earnings Overview Tencent reported Q4 financial results after the Hong Kong close and before the US open overnight. Goldilocks would say that the results were "not too hot and not too cold." Ultimately, advertising revenue increased +15% year-over-year (YoY) in Q4 year over year compared to a -7% decrease in 2022 from 2021. We knew that Q4 was not going to be good as COVID spread across China following the elimination of the zero COVID policy. Markets are forward-looking, so the pickup in Q4 likely means another pickup in Q1, Q2, etc. In fact, during the conference call, the company said that January and February were showing “positive signs” of a sustained recovery. Tencent’s main performance drivers are video games and its WeChat social media platform, which is up to 1.3 billion users globally. While international games saw gains, domestic games were off. Management slashed sales and marketing expenses by -47% YoY in … [Read more...] about Tencent Provides Promising Outlook As Investors Wait For Jay Powell

Share to Twitter Share to Linkedin Topline GameStop shares rose by more than 30% Wednesday after the video game retailer reported its first quarterly profit in two years, as shares for other meme stocks popularized during the pandemic, including AMC Entertainment and Bed Bath & Beyond, also increased as a result. Key Facts GameStop shares closed at $17.65 Tuesday and rose by 36% to $24.16 Wednesday as of 10:15 a.m. Eastern time. The rise in GameStop shares has been complemented by gains of other meme stocks, as both Bed Bath & Beyond and AMC Entertainment —which rose as much as 8% and 11% in premarket trading, respectively—are up 2%. Shares for Nokia (0.17%) and Virgin Galactic (1%) also rose Wednesday morning. First Republic shares— falling to their lowest point ever Monday after reports of a possible sale—fell 7% despite a 29% rise Tuesday, as shares for Nike, which reported an increase in quarterly sales, fell by … [Read more...] about GameStop Shares—Up More Than 35%—Lead Meme Stock Rally