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Top Stock Movers Now: Walt Disney, Datadog, Ferrari, And More
U.S. Equities Were Higher At Midday...
Investopedia
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U.S. equities were higher at midday following the latest earnings news and ahead of more data that could impact the Federal Reserve's stance on the future of interest rates. The Dow, S&P 500, and Nasdaq all gained.
Kenvue (KVUE) shares jumped as the consumer health products maker spun off from Johnson & Johnson (JNJ) posted better-than-expected profit and announced layoffs as it moved to cut costs.
Shares of International Paper (IP) also took off following a report that Brazilian pulp producer Suzano is offering almost $15 billion to buy the firm.
Fidelity National Information Services (FIS) shares rose as the financial technology firm beat earnings estimates and raised its guidance and share repurchase program.
Walt Disney (DIS) shares sank as the entertainment giant reported a net loss caused by billions in restructuring and other impairment charges and gave a soft outlook for subscribers and experiences, though Disney reported a surprise profit in its direct-to-consumer entertainment segment.
Shares of Palantir Technologies (PLTR) slumped after the artificial intelligence (AI) software maker’s outlook failed to impress. Similar concerns affected Datadog (DDOG), as the cloud monitoring and security firm’s shares fell despite better-than-expected results for the first quarter. Datadog also announced President Amit Agarwal was stepping down.
Ferrari (RACE) shares fell after the luxury car maker's shipped vehicles were roughly flat in the first quarter, even as earnings topped expectations.
Oil futures advanced and gold prices fell. The yield on the 10-year Treasury note tumbled. The U.S. dollar gained versus the pound and yen, but slipped against the euro. Trading in most major cryptocurrencies was mixed.
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Legit
1 h
15
An old post has surfaced showing Nigerian singer David Adeleke Davido lashing out at Nollywood actress Mercy Johnson Okojie and her husband, Prince Odi Okojie.
The post, which originated in a comment thread on Eniola Badmus' Instagram account, revealed Davido's disgust for the movie star. The former DMW boss accused Mercy Johnson and her heartthrob of being evil.
Recall that the actress has been entangled in some sort of controversy among her colleagues, including her alleged childhood friend, who claimed she was a witch.
In the old post, Eniola Badmus celebrated Mercy Johnson for allegedly delivering her fourth child years ago, which was later debunked by her husband at that time.
Davido took advantage of the chance to air his frustrations, referring to the pair as "wicked people" and reluctantly sent his congratulatory message.
A concerned fan demanded to know the cause for his harsh remark, and the Unavailable singer replied:
"Just evil set of People."See the post below:
Nigerians react to Davido's comments
Legit.ng compiled the reactions below:
chizzyazuoma:
"This is not the full gist start from the beginning."pricilliafunmi:
"Nawa o where dem hear d gist from."p_lexy:
"Dem show am pepper."promcy_o:
"Something occurred ooo."i_am_candydessie:
"Na wah oo . Mercy Johnson and davido ki Lon lockdown na . Lets us know."nwannedoris:
"@davidoofficial this is too low of you. You are a parent yourself. Stop being immature."Angela Okorie claps back at Mercy Johnson's hubby
Meanwhile, Legit.ng previously reported that Angela Okorie clapped back at Mercy Johnson's husband, Prince Okojie, for claiming she was battling mental issues.
Okorie criticised Prince Okojie, whom she called a houseboy under his wife’s alleged witchcraft influence.
She added that Prince would remain under Mercy's spell for the rest of his life.
Source: Legit.ng
Instablog9ja
2 hrs
11
Angels in heaven are celebrating as singer Frankie Jay declares God’s sovereignty.
He said don’t blame us if we believe in God so much! As children we watched our mothers cry to God and miracles happened! Fees got paid, rent got paid! There was food no matter how hard it got. Mama had one name on her lip and that was Jesus! Don’t underestimate the power of prayers
Instablog9ja
5 hrs
16
President Bola Tinubu has returned to Nigeria after his trips to the Netherlands and Saudi Arabia.
According to the NTA, Tinubu returned on Wednesday, May 8, 2024.
The Special Adviser on Information and strategy to the president, Bayo Onanuga, had in a statement via his X handle on Tuesday, said the President will come back on Wednesday. “President Bola Ahmed Tinubu, along with his aides, will return to Nigeria tomorrow from Europe,” Onanuga stated.
President Tinubu had travelled for a meeting with the Dutch Prime Minister, Mark Rutte, over two weeks ago, from where he took a trip to Saudi Arabia to attend a special World Economic Forum (WEF). He subsequently travelled to Europe after the summit.
It would be recalled that on April 22, the president left Abuja for the Kingdom of The Netherlands on an official visit. After the engagements in The Netherlands, Tinubu proceeded to Riyadh in Saudi Arabia to attend a special WEF meeting between April 28 and 29. The president was expected back in the country after the forum in Saudi Arabia, but he did not return, fueling speculations about his whereabouts.
Investopedia
5 hrs
10
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TikTok reported on Tuesday that it filed a petition in federal court seeking to overturn the U.S. TikTok ban. ByteDance, the Chinese company that owns TikTok, filed a lawsuit with U.S. Attorney General Merrick Garland asking for a review of the constitutionality of the ban.
TikTok claimed the law is "unconstitutional," saying that it is "so obviously unconstitutional, in fact, that even the Act’s sponsors recognized that reality, and therefore have tried mightily to depict the law not as a ban at all, but merely a regulation of TikTok’s ownership."
Legislation signed into law by U.S. President Joe Biden in April requires ByteDance to divest TikTok within a year through a forced sale or face a nationwide ban based on national security concerns.
The company said that the "qualified divestiture" required by the law is "simply not possible: not commercially, not technologically, not legally," and that even if it were possible, it would "still be an extraordinary and unconstitutional assertion of power."
"If Congress can do this, it can circumvent the First Amendment by invoking national security and ordering the publisher of any individual newspaper or website to sell to avoid being shut down," TikTok said in the filing.
The company also highlighted its efforts to ease the U.S. government's national security concerns, specifically that TikTok voluntarily invested more than $2 billion into "Project Texas," an initiative where American user data was isolated inside Oracle (ORCL) servers in the U.S. that communicate with global TikTok systems.
The ban was expected to face legal challenges that are likely to lengthen the time before a forced sale or ban takes effect.
UBS analysts have indicated that there is "limited opportunity to appeal," citing a former Federal Communications Commission (FCC) commissioner who indicated that the designation of TikTok as a national security risk could be key to limiting legal challenges, saying, "National Security almost always wins.”
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Legit
5 hrs
13
At least three persons have been confirmed dead following a gas cylinder explosion that occurred in the Lekki area of Lagos State on Tuesday.
Director/chief executive officer of Lagos State Fire and Rescue Service (LSFRS), Margaret Adeseye, who confirmed the incident, said she got a distress call at about 15:34 hours that the incident occurred on Lekki-Epe Expressway, Ibeju Lekki, Lagos.
She attributed the explosion to the mishandling of the gas cylinder.
“It is an explosion involving an LNG (industrial gas) cylinder of about 50kg assembled at the frontage of a row of shops. LNG cylinders of about 50kg exploded.
“Lekki Phase II Fire Station of LSFRS complemented by Health Environment officials, Military Officials, FRSC Officials, Ibeju Lekki Loca Government. Mishandling of Gas cylinder leading to an explosion. Three bodies were recovered dead and one injured,” she said.
Source: Legit.ng
