(MENAFN- Baystreet)
Toronto stock exchange Nears Two-Year High
Hugo Boss' Stock Falls 15% On Grim Sales Outlook
Hot
Stocks Today: Costco, MongoDB, DocuSign, and More
Novo Nordisk's Stock Rises 5% On
weight loss Trial Results
Thursday's Stock Trades Include NYCB's Wild Ride Previous Articles Subscribe to Get Small Cap News & Alerts
Chris La - Thursday, March 7, 2024
Breaking News on Apple/Epic, Tesla, and More
Besides underperforming this year, mega-cap giants Apple (AAPL) and Tesla (TSLA) are getting negative media attention. Fortunately, the news is noise that does not fundamentally change their prospects.
Epic Games, which made the game title Fortnight, reported that Apple banned (terminated) its developer account. This stops Fortnight's plans from releasing its third-party app store on Apple's iOS in the European Union. Epic said that the action violates the Digital Markets Act (“DMA”).
Epic lost nine out of 10 counts in its suit against Apple. Its decision not to pay Apple the fees will likely permanently damage Epic Games' future.
In Germany, arson at Tesla's Gigafactory plant will halt EV production. The plant produces 1,000 Tesla vehicles and employs around 12,000 people. A closure of at least five days would result in at least $100 million in revenue losses.
In the retail sector, Nordstrom (JWN) is the stock to avoid. The company posted a weak quarter. Similarly, avoid Foot Locker (FL) stock. The company pushed back its 8.5% to 9% operating margin target by an unacceptable two years, to 2028. Abercrombie & Fitch (ANF) is, however, the stock to watch. The firm posted a non-GAAP Q4 EPS of $2.97. Revenue grew by an impressive 21.0% to $1.5 billion as comparable sales rose by 16%.
Although ANF stock dipped on profit-taking yesterday, it will move higher through this quarter.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN07032024000212011056ID1107948468
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.