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Why Is Sportswear Company Under Armour Stock Tanking Today?

By Shivani Kumaresan
May 16, 8:40 AM
Under Armour shares are plunging following the company's gloomy guidance. In Q4 FY24, sales declined 4.9% to $1.33 billion, meeting estimates. Wholesale revenue dropped 7%, and direct-to-consumer revenue remained flat. Despite a gross margin expansion of 170 basis points to 45%, the company reported an operating loss of $3.5 million. FY25 revenue is projected to decline at a low-double-digit percentage rate.

UA

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Tesla Told To Face Autopilot Lawsuit In The Wake Of Safety Probes- Report

By Shivani Kumaresan
May 16, 8:40 AM
Tesla Inc. (NASDAQ: TSLA) faces a class-action lawsuit for allegedly misleading consumers about its self-driving technology. The lawsuit claims Tesla falsely stated in 2016 that future cars would have full self-driving capabilities. Judge Rita Lin allowed several fraud claims to proceed, highlighting ongoing concerns about Tesla's autonomous driving promises and raising questions about the company's future in autonomous vehicle technology.

FDIS

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VEON Posts 6.6% Revenue Growth In Q1 Driven By Digital Operator Strategy: Details

By Shivani Kumaresan
May 16, 8:26 AM
VEON reported first-quarter FY24 sales growth of 6.6% year-on-year to $942 million. Total digital monthly active users surged 40%. The company's 4G subscribers grew 10.6% Y/Y to 97.4 million, representing a 61.7% customer base penetration. VEON anticipates FY24 local currency revenue growth of 16%-18% and EBITDA growth of 18%-20%.

VEON

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Paramount Explores Partnership Expansion With Amazon: Report

By Shivani Kumaresan
May 16, 6:01 AM
Paramount Global is reportedly discussing a potential media partnership expansion with Amazon, focusing on bundling channel sales and advertising. Paramount+, already featured on Amazon's Channels store, could see enhanced integration. Concurrently, Paramount is evaluating acquisition proposals from David Ellison and Apollo Global Management.

AMZN

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AST SpaceMobile Stock Is Blasting Off After The Bell: Here’s Why

By Adam Eckert
May 15, 4:40 PM
The after-hours surge in shares of AST SpaceMobile appears to be in reaction to the company's new agreement with AT&T. AST SpaceMobile said it entered into a definitive commercial agreement with AT&T to provide a space-based broadband network direct to everyday cell phones. The two companies were previously working together under a Memorandum of Understanding. The new agreement extends the collaboration until 2030.

ASTS