Limelight networks stock forecast

- A + A NEW YORK/BENGALURU (May 26): US stock indexes climbed in a broad-based rally on Thursday after upbeat annual forecasts from several retailers, while data confirmed the US economy contracted in the first quarter, easing concerns about aggressive interest rate hikes. All of the 11 major S&P sectors advanced, with consumer discretionaryup 4.1%, followed by a 1.9% rise in the financials sector. The small-cap Russell 200 index added 2.1%. Macy's Inc surged 16.2% after the department store raised its annual profit forecast, as party-wear demand rebounds. Dollar General Corp and Dollar Tree gained 11.7% and 18.4% respectively, after lifting their annual sales forecasts, as more Americans turn to discount store shopping with inflation at a four-decade high. Meanwhile, the Commerce Department's report showed US GDP fell at a 1.5% annualized rate last quarter, amid a record trade deficit and a sequential decline in the pace of inventory accumulation. The … [Read more...] about Wall Street surges on upbeat forecasts from retailers, Fed relief

Major Moves Stocks were mixed today as investors prepared for the busiest week of first quarter earnings season . By the end of the week, more than 45% of the S&P 500 will have reported their earnings and we will have a good idea for the trend of corporate performance. Risks were somewhat compounded today following news that President Trump will make another move to curtail oil exports from Iran. Currently, some oil importers like China, South Korea and Turkey have a "waiver" from the U.S. that they will not face negative consequences for doing business with Iran. President Trump plans not to renew these waivers that expire on May 2. The administration has assumed that Iran's market share can be consolidated by Saudi Arabia and other Organization of Petroleum Exporting Countries (OPEC) nations who will increase production. Clearly, the U.S. cannot dictate production levels to OPEC, but it is reasonable to assume that if Iranian exports are reduced, Saudi Arabia will want … [Read more...] about Junk Bonds Keep Dropping as Oil Spikes

Share to Twitter Share to Linkedin Inflation is becoming a problem. Whether it becomes a long-term structural one or dissipates after the pandemic, no one knows. As the old saw goes, economic forecasts make tarot cards appear respectable. Jack Dorsey recently predicted hyperinflation , an exponential decrease in the value of paper money akin to what happened in the Weimar Republic in the 1920s—or Zimbabwe in 2007 . For that to occur, monetary policy would have to ignore the problem, failing to raise rates as the data required. A Fed that lacks political independence could make this mistake, but it’s a low-probability outcome. Even double-digit inflation—in a throwback to the seventies—is unlikely, but possible. After all, economic conditions, like bellbottoms, go in and out of fashion. The most likely scenario is some prolonged elevation to inflation (in the mid-single digits) as labor shortages and supply-chain problems continue to pressure prices. No … [Read more...] about The Best Inflation Hedge You Already Own

Key Takeaways Analysts estimate adjusted EPS of RMB14.42 ($2.23) vs. RMB14.82 in Q1 FY 2021. Annual active consumers in China are expected to rise YOY. Revenue is expected to rise amid the Chinese government's crackdown on big tech. Alibaba Group Holding Ltd. ( BABA ) has not gone unscathed by the broad selloff in Chinese technology stocks. The sector shed hundreds of billions of dollars in market value in July amid a campaign by the Chinese government to rein in the power and influence of the country's tech giants. As part of the big tech crackdown, Alibaba was slapped with a fine worth $2.8 billion earlier this year for abusing its dominance over rivals and vendors on its e-commerce platforms. Investors will get a chance to focus on Alibaba's recent financial performance when it reports its Q1 FY 2022 earnings on August 3, 2021—the company's fiscal year ( FY ) ends in March. Analysts expect adjusted EPS to decline for the first time in at least four … [Read more...] about Alibaba Q1 FY 2022 Earnings Report Preview: What to Look For

- A + A WASHINGTON (May 26): The number of Americans filing new claims for unemployment benefits fell more than expected last week as the labour market remains tight amid strong demand for workers, despite rising interest rates and tightening financial conditions. But the outlook for the economy is uncertain, with other data on Thursday showing corporate profits falling across the board in the first quarter. Some economists believe the erosion of profits and falling share prices could force companies to pause hiring or start laying off workers. Several retailers, including Walmart Inc have lowered their full-year earnings forecasts, citing high inflation. Snap, the parent of Snapchat, issued a profit warning this week, sparking a sell-off of social media stocks. "The biggest expense for most companies is labor always," said Christopher Rupkey, chief economist at FWDBONDS in New York. "High-flying tech companies have seen their share prices plummet which will force … [Read more...] about US labour market hot, but declining profits cast shadow over economy

Key Takeaways EPS was -$0.03 vs. the -$0.05 analysts expected Revenue, which was expected to decline slightly year-over-year, rose substantially. Gross Payments volume fell, but by less than expected. What Happened Square was meant to report earnings after markets closed on August 5, 2020, but its earnings leaked and were reported by Bloomberg after markets closed on August 4. The news was positive. Sales, which analysts had expected to decline slightly, actually grew substantially year-over-year. Losses per share were also less than anticipated and while gross payments volume (GPV), the total value of transactions Square processes, declined, the decline was also smaller than expected. Square's stock rose by more than 10% in after-hours trading Tuesday, and are slightly higher today. (Below is Investopedia's original earnings preview, published July 29, 2020.) What to Look For Square Inc. ( SQ ) is feeling the negative financial impact of the … [Read more...] about Square Earnings: What Happened

Key Takeaways Analysts estimate adjusted earnings per share (EPS) of -$0.01 vs. -$0.09 in the second quarter of fiscal year (Q2 FY) 2021. The number of average daily active users is expected to rise year over year (YOY). Revenue is expected to rise at the fastest pace in at least 14 quarters, continuing its strong momentum amid last year’s boom in online traffic during the COVID-19 pandemic. Snap Inc. ( SNAP ), parent company of the Snapchat app, has been feeding off of momentum set off by the increase in online traffic last year, as people sheltered at home amid the COVID-19 pandemic. While digital ad spending initially took a hit in the early stages of the pandemic, it bounced back in the latter half of 2020. Rising ad spending, Snap’s primary revenue source , helped it to finally post a small profit in recent quarters after years of losses. Investors will focus on whether Snap has been able to build on that performance when the company reports earnings after … [Read more...] about Snap Q2 FY 2021 Earnings Report Preview: What to Look For

New York (CNN Business) China's economy has slumped as Covid cases surged in the world's most populous country. But Chinese consumers stuck at home are still spending. E-commerce giant Alibaba reported better-than-expected earnings and sales for its most recent quarter Thursday. Shares of Alibaba ( BABA ) were up nearly 15% in late morning trading after the company reported that revenue rose 9% from a year ago, topping analysts' forecasts. Alibaba said the strength was due to solid online and mobile shopping demand as well as a 12% jump in sales from its massive Alibaba Cloud unit. Alibaba said that it now has more than 1 billion active customers in China, the first time the company has surpassed that milestone. Alibaba has more than 1.3 billion customers worldwide. Alibaba charman and CEO Daniel Zhang said in a press release that Alibaba was able to post solid results "despite macro challenges that impacted supply chains and consumer … [Read more...] about Chinese consumers are stuck at home but still spending a ton, Alibaba says

Major Moves Trading was aimless during today's session as economic and earnings data came in below expectations. While there was plenty of bad news, some of the media's hand-wringing was a great example of post-hoc rationalization. This was particularly true in the energy sector. Each Wednesday, the Energy Information Administration (EIA) releases a report of oil inventories held by commercial firms in the U.S. Like most weekly reports, the data can be very "noisy," with wide swings from week to week. In a bullish oil market, we would like to see inventories fall because purchases and shipping are picking up. The weekly oil inventory report swung back hard today to show an increase of 7.1 million barrels versus a decrease of 8.6 million barrels last week. When the two data points are added together, we see a small net decrease over the past two weeks that is more likely to be an accurate reflection of the market. Most traders expected today's news after inventories were … [Read more...] about Resistance Firms Ahead of Labor Report

- A + A (May 26): Broadcom Inc said on Thursday it will acquire cloud computing company VMware Inc in a US$61 billion cash-and stock deal, the chipmaker's biggest and boldest bid to diversify its business into enterprise software. The acquisition is the second biggest announced globally so far this year, trailing only Microsoft Corp's US$68.7 billion deal to buy video game maker Activision Blizzard Inc. The offer of US$142.50 in cash or 0.2520 of a Broadcom share for each VMware stock represents a premium of nearly 49% to the stock's last close before talks of the deal were first reported on May 22. Broadcom will also assume US$8 billion of VMware's net debt. The chipmaker's shares were up nearly 3%, while VMware rose 2% in morning trading. Broadcom Chief Executive Hock Tan, who built his company into one of the world's biggest chipmakers through acquisitions, is now bringing his dealmaking playbook to the software sector. In one fell swoop, the deal will … [Read more...] about Chipmaker Broadcom to buy VMware in US$61 bil deal