Companies & CEOs
Alphabet shares surge after good earnings release - 02/04/2021
Alphabet published its financial report for the fourth quarter and the entire year 2020, which turned out to be better than analysts' forecasts. As a result, the corporation's shares gained almost 8% in over-the-counter trading immediately after the report was published. For example, Alphabet's revenue for the quarter reached $56.9 billion, which is not only 23% higher than the previous year, but...
GameStop papers, silver slump down after flashmob-inspired growth - 02/03/2021
GameStop and AMC Entertainment shares traded on the New York Stock Exchange fell 54% and 49% respectively after briefly taking off late last week in response to a flash mob by internet users of the popular resource Reddit. Silver, to which users decided to switch following their success with GameStop shares, was also down by almost 9%. Analysts assumed that the decline in quotations was due to...
Google to pay $3.8m for discrimination of women and Asians - 02/03/2021
Google has agreed to pay $3.8m to its current employees and software development candidates. In total, more than 5,500 people will be compensated. The US Department of Labor said that the audit found that the corporation had used discriminatory methods in selecting staff for the position, as well as in determining the salaries of those already hired. The company's policy was found to...
ASOS buys Topshop and other Arcadia brands - 02/02/2021
UK online retailer Asos announced that it bought several clothing brands from retailer Arcadia Group. The deal amounted to £265m, which will be paid in cash. The company bought out the brands Topshop, Topman, Miss Selfridge and HIIT. However, as previously reported, the online retailer did not acquire the physical shops where the aforementioned brands were sold by Arcadia. All of them...
WSJ: Major US oil companies discuss possible merger - 02/01/2021
The CEOs of US oil companies Chevron and ExxonMobil, Mike Wirth and Darren Woods, were in talks about a possible merger because of the damage caused by the coronavirus pandemic, The Wall Street Journal (WSJ) reported, citing sources. They noted that the talks were tentative but that company representatives may revisit them in the future. The capitalisation of the combined company could exceed...
Chinese Kuaishou holds the largest IPO in two years in Hong Kong - 02/01/2021
China's second-largest short video service Kuaishou Technology has raised $5.4bn during an IPO in Hong Kong, Bloomberg reports. The offering was the largest for the Hong Kong stock exchange since November 2019, when Alibaba Group floated its shares on the exchange, managing to raise about $13bn. The service, backed by Tencent Holdings, sold 365 million of its shares to investors at a price of...
MasterCard shows unexpectedly good performance in 2020 - 01/29/2021
MasterCard published its financial report for the fourth quarter and the entire year 2020. The company managed to beat analysts' expectations and its shares rose by 3% immediately after the release. The COVID-19 pandemic had a negative impact on consumer activity, especially spending abroad, as most countries were closed for travel for most of the year. As a result, this figure fell by...
Douglas perfumery and cosmetics chain to close 500 stores across Europe - 01/29/2021
Douglas, one of Europe's largest cosmetics and perfumery chains headquartered in Germany, announced Thursday that it is closing 500 outlets. It’s just under 20% of Douglas' entire branch network, which includes some 2,400 shops in 26 countries across Europe. The company announced this on Thursday when it published its financial statements for the 2019/2020 financial year, which ended at the end...
Microsoft's quarterly revenue up by 17% - 01/28/2021
Microsoft's revenues reached $43.1 billion in the latest quarter, up 17% from the same period last fiscal year. Net income was up 33% ($15.5bn) and operating income – up 29% ($17.9bn). "Growing demand for our wide range of products drove cloud revenue up 34 percent year over year to $16.7 billion," Chief Financial Officer Amy Hood said in a press release. Satya Nadella, chief executive...
Beyond Meat shares up 36% after deal with Pepsi announced - 01/27/2021
Shares in plant-based meat producer Beyond Meat were up more than 36% at the opening of trading, triggered by the news that the company has agreed a deal with PepsiCo to develop new snacks and drinks based on plant-based protein. Shares in plant-based meat producer Beyond Meat jumped more than 36% after the opening of trading on January 26. By mid-afternoon, the securities were worth about $216,...
