Foot Locker Posts Q1 2023 Results, Sees Stock Sink 25% on Sales Drop

Sportswear and footwear retail company Foot Locker took a beating in its Q1 2023 report after sustaining an 11% drawdown in revenue.  Foot Locker Retail Inc (NYSE: FL) plunged 25% following a big earnings miss in the Q1 2023 outing. For the first quarter of 2023, the sportswear and footwear retailer reported revenue of $1.93 … Read more

BT Shares Drop 8% after BT Group Announced Move to Cut Up to 55K Jobs by 2030

The job cuts will happen despite an increase in its network connection, whereby BT Group reported a total of 8.6 million 5G connections, up 62% last year. Shares of BT Group PLC (LSE: BT.A) dropped as much as 8 percent on Thursday to trade around £136.85. The sudden drop in the £14.91 billion valued British … Read more

Foxconn Says April Sales Drop 12% due to Decline in Smartphone Shipments

The growth of artificial intelligence technology is expected to increase the overall demand for fast-processing electronics. Foxconn Technology Co Ltd (Taiwan: 2354), one of the largest global employers in the electronics manufacturing industry and a major supplier to Apple Inc (NASDAQ: AAPL) announced a sales decline of 11.77 percent in April, YoY basis. However, the … Read more

Merck Q1 2023 Report Shows Revenue Drop as COVID Treatment Sales Crash, MRK Stock Down 1%

Affected by reduced demand for Covid drug Molnupiravir, Merck has published reduced revenue figures according to its Q1 2023 report. Multinational pharmaceutical giant Merck & Co Inc (NYSE: MRK) has released its Q1 2023 report. The company’s figures show a reduction in revenue due to several factors, including a plunge in sales. According to published figures, … Read more

Dell Q4 2023 and Full-Year Earnings Tops Estimates but Misses Guidance Expectations, Shares Drop 3%

Dell announced that Sweet would retire as the chief financial officer at the end of Q2 and be replaced by Yvonne McGill. Dell Technologies Inc (NYSE: DELL) announced its Q4 and full-year fiscal 2023 financial results on March 2. According to the earnings announcement, the American multinational technology company reported a revenue of approximately $25 … Read more