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DraftKings, Cinemark, Hershey and more

CFO News Room

in premarket trading despite reporting a smaller-than-expected quarterly loss and revenue that topped Wall Street forecasts. The sports betting company also raised its revenue guidance and warned a prolonged economic downturn could impact spending by its customers. in premarket action after a weaker-than-expected sales forecast.

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Starbucks, Twilio, Carvana, DoorDash and more

CFO News Room

Check out the companies making the biggest moves midday: Starbucks — The Seattle-based coffee company jumped nearly 9% after reporting quarterly profit and revenue that topped expectations. Twilio — Twilio’s stock plunged nearly 36%, a day after the company issued a weaker-than-expected sales forecast. Net sales rose 3.35

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Foot Locker, JD.com, Gap and others

CFO News Room

The apparel and footwear retailer also raised its full-year forecast and reported an unexpected rise in comparable store sales. in premarket trading after an unexpected return to profitability and better-than-expected sales. Williams-Sonoma reported better-than-expected sales and profit for its latest quarter. in the premarket.

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Disney, Meta Platforms, Lucid Motors, Roblox and more

CFO News Room

Disney — Shares of the media giant slid more than 11% after the company’s quarterly results missed Wall Street expectations on revenue and profit, as both its parks and media divisions underperformed estimates. after the company reported another quarterly loss as operational costs increased. AMC Entertainment — Shares dropped 9.8%

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IMF: Banks Could Encounter Market, Credit Losses As COVID-19 Surfaces ‘Cracks’ In The Financial System

PYMNTS

The International Monetary Fund (IMF) cautioned that COVID-19 has made “cracks” in the worldwide financial system known and “will likely” have financial institutions encounter market and credit losses that will put their reserves to the test. out of work and may bring about the most severe economic downturn as of the Great Depression.

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Global trade to rebound modestly: Allianz

Future CFO

Global trade is set to rebound modestly after two consecutive years of below-average global GDP growth, said Allianz recently when releasing its Global Economic Outlook 2023-25. THe firm forecasts 2024 GDP growth at +1.4% Central banks are predicted to pivot earlier than expected by economic forecasters (i.e.

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Salesforce, Five Below, Okta, Costco and more

CFO News Room

Analysts had anticipated a loss of 24 cents for the quarter. Splunk — Splunk’s stock added 13% on solid quarterly results and an upbeat full-year forecast. It also cut its profit outlook, citing the volatile economic environment. The company also noted benefits from cost-cutting.