By Zaheer Kachwala (Reuters) -Roblox raised its annual bookings forecast on Thursday, as user engagement increased on its platform during the summer holidays and more mature content helped it draw older users with higher spending power. Shares of the company rose 3.5% in premarket trading. The video gaming company, known for its popularity among younger […]
Carvana shares surge on robust 2024 core profit forecast
(Reuters) – Shares of Carvana surged nearly 13% in premarket trade a day after the used car retailer forecast annual core profit above Wall Street estimates, as more car buyers consider shopping online. Baird analyst Craig Kennison said the company’s story promised a bright future and Carvana was “well positioned” to gain share as automotive […]
Moderna cuts 2024 sales forecast, sees low EU vaccine revenue into 2026
By Patrick Wingrove and Leroy Leo (Reuters) -Moderna on Thursday cut its 2024 sales forecast for COVID-19 and respiratory syncytial virus vaccines by up to 25%, or $1 billion, due partly to low COVID sales to the EU that it expects to continue into 2026. The vaccine maker’s shares plunged more than 15% to $101.01, […]
Chip index collapses 8% as Arm punctures AI optimism
(Reuters) – U.S. chip stocks plummeted on Thursday, on track for their worst day since 2020, after a conservative forecast from Arm Holdings dampened investor optimism about artificial intelligence and data signaled a cooling economy. Shares of Arm sank 16% after the British chip designer’s forecast sparked worries that returns from a spending frenzy on […]