Chinese internet stocks jumped in US trading after a senior Communist Party official reaffirmed support for the industry, stoking optimism that regulators may ease a yearlong clampdown. The Nasdaq Golden Dragon China Index climbed 5.2% to its highest level in about two weeks. E-commerce giant Alibaba Group Holding Ltd. rose 6.4% while search engine operator…
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Hertz Global Holdings Inc. reported a profit of 87 cents a share, beating analyst estimates of 80 cents amid a rebound in leisure trips, but investors remain wary of the slow return of corporate travel and sustainability of pricing gains. Hertz, which emerged from bankruptcy in October, said first-quarter revenue of $1.8 billion was up…
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Shares of Chinese video-game makers and live-streaming platforms rallied on Monday, after China approved the first batch of new video game licenses since July.
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Alibaba Group Holding Ltd. and Didi Global Inc. rallied for a second day, adding $80 billion in value to U.S. listed Chinese stocks as fears of potential delistings eased. The Nasdaq Golden Dragon China Index jumped as much as 6.1% Monday, adding to Friday’s climb after Beijing regulators published revised draft rules scrapping requirements that…
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Dillard’s Inc., the 83-year-old department store, has soared 417% this year, and it’s thanks in part to its ability to manage a global supply chain snafu amid a jump in customer demand. Dillard’s gained as much as 23% on Thursday to a record $364.08 after quarterly results blew estimates out of the water. The company’s…
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Walmart Inc. shares jumped after the retailer posted strong quarterly sales growth and boosted its profit outlook, an impressive feat after facing a difficult comparison with last year’s pandemic-fueled stockpiling. Comparable sales increased 6% for Walmart stores in the U.S., excluding fuel, compared with an expected 2% gain, according to estimates compiled by Bloomberg.
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With restaurants resuming some dine-in services and more people returning to work, grocery stores are getting the short end of the stick. The total grocery industry, which includes in-store shopping and delivery and meal-kit providers, saw an “across-the-board spending deceleration” of about 500 basis points for the two weeks that ended May 19 from the…
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Steven Weinstein raised his first-quarter revenue expectations for Wayfair Inc. after scouring credit and debit card information from millions of Americans. Two weeks after his report was published in April, Wayfair reported quarterly net revenue of $2.33 billion, just $60 million shy of Weinstein’s estimate, which was higher than the consensus forecast of $2.28 billion.…
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