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    • Breaking News
    May 13, 2024
    • SquareSpace jumped 13% to $43.15, and the e-commerce platform operator agreed to go private in an all-cash deal valued at $6.9 billion. 

      The company's board agreed to a $44-a-share cash offer, and the company's chief executive, Anthony Casalena, will continue to lead the company and the board. 
      • Intel Corp. advanced 1% to $30.17 after private equity investor Apollo Global and the company are in advanced talks to build a manufacturing facility in Ireland. 

        Apollo is likely to invest $11 billion in the manufacturing facility, the Wall Street Journal reported Monday. 

        Intel is in the midst of a $100 billion investment spree as the company plays catch-up with Taiwan Semiconductor and diversifies its business model to provide foundry services to other fabless chip makers. 
        • May 10, 2024
        • Akamai Technologies decreased 9.1% to $94.06 after the internet infrastructure company estimated weaker-than-expected second quarter earnings. 

          Revenue in the first quarter increased 8% to $987 million from $915.7 million, net income rose to $175.4 million from $97.1 million, and diluted earnings per share advanced to $1.11 from 62 cents a year ago. 

          The company estimated a second-quarter revenue range between $967 million and $986 million and full-year revenue between $3.95 billion and $4.02 billion.
          • Array Technologies rose 2.9% to $12.88 after the company reported better-than-expected adjusted earnings. 

            Revenue in the first quarter decreased to $153.4 million from $376.8 million, net income swung to a loss of $11.3 million from $17.2 million, and diluted earnings per share were a loss of 7 cents compared to a profit of 11 cents a year ago. 

            The company reaffirmed its annual revenue range of $1.25 billion to $1.4 billion and adjusted earnings per share to range between $1.0 and $1.15 billion. 
            • Novavax soared 124% to $10.02 after the company announced a multi-billion-dollar deal with Sanofi to co-commercialize its COVID vaccine starting as early as 2025. 

              Sanofi agreed to pay Novavax an upfront licensing fee of $500 million and an additional fee of $700 million based on reaching certain milestones. 
              • Sweetgreen soared 39% to $32.95 after the salad chain reported higher-than-expected revenue in the first quarter. 

                Revenue in the first quarter increased by 26% to $157.9 million from $125.1 million, driven by the same store sales increase of 5% from a year ago. 

                Net loss in the quarter decreased to $26.1 million from $33.6 million, and diluted loss per share fell to 23 cents from 30 cents a year ago. 
                • May 3, 2024
                • Apple Inc. soared 6% to $183.44 after the maker of popular iPhone devices reported better-than-expected sales and earnings in its fiscal second quarter. 

                  Revenue in the fiscal second quarter ending in March declined to $90.7 billion from $94.8 billion, net income fell to $23.6 billion from $24.2 billion, and diluted earnings per share increased to $1.53 from $1.52 a year ago. 

                  Net sales in the Americas declined to $37.3 billion from $37.8 billion; in the European Union, they rose to $24.1 billion from $23.9 billion; in Greater China, they decreased to $16.3 billion from $17.8 billion; in Japan, they fell to $6.2 billion from $7.2 billion; and in the rest of Asia Pacific, they eased to $6.7 billion from $8.2 billion a year ago, respectively. 

                  The company's board of directors increased its quarterly cash dividend by 4% to 25 cents per share, payable on May 16 to shareholders on record on May 13. 

                  The company also announced a whopping $110 billion stock repurchase plan. 
                  • May 2, 2024
                  • DoorDash plunged 9.9% to $114.80 after the food delivery company reported a wider-than-expected loss in its latest quarter. 

                    Revenue increased 23% to $2.5 billion from $2.05 billion, net loss attributable to shareholders shrank to $25 million from $161 million, and diluted loss per share fell to 6 cents from 41 cents a year ago. 

                    In the first quarter, total orders increased by 21% to 620 million, and gross sales volume rose by 21% to $19.2 billion, driven in part by a more than 100% increase in the new vertical, grocery delivery. 

                    Free cash flow increased to $487 million from $316 million, and operating cash flow rose to $553 million from $397 million a year ago. 
                    • eBay Inc. declined 3.8% to $49.11 after the online marketplace operator estimated weaker-than-expected revenue in the current quarter. 

                      Revenue in the first quarter increased 2% to $2.55 billion from $2.51 billion, net income declined 23% to $439 million from $569 million, and diluted earnings per share dropped to 85 cents from $1.05 a year ago. 

                      The company estimated second-quarter revenue in the range of $2.49 billion and $2.54 billion, an increase between -1% and +1%.

                      The online marketplace operator estimated second-quarter diluted earnings per share between 76 cents and 81 cents. 
                      • Wayfair Inc. advanced 7.5% to $54.31 after the online furniture retailer reported a narrower loss in its latest quarter, partly driven by layoffs. 

                        Total net revenue in the first quarter declined 1.6% to $2.72 billion from $2.77 billion, net loss shrank to $248 million from $355 million, and diluted loss per share eased to $2.06 from $3.22 a year ago. 

                        Active customers in the first quarter increased by 2.8% from a year ago to 22.3 million. 

                        The company processed 9.6 million orders in the quarter, a decline of 1%, and repeat customers placed 7.7 million, an increase of 1.3% from a year ago, respectively. 

                        The average order value in the first quarter decreased to $285 from $287 in the corresponding period a year ago.