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Instablog9ja
1 h
12
Gospel singer Ajayi Aduke Morounkola popularly known as Aduke Gold is d3ad.
Confirming the incident, Tuesday morning, another popular colleague, Esther Igbekele, wrote on Facebook, “A GENERAL HAS FALLEN. ADUKE GOLD #rip”
The cause of her d3ath remains unclear as at time of filing this report.
The Ilesha-born singer was initially known as Aduke Penkele. She grew up in Ogba and Badagry areas of Lagos and was from a polygamous home. She was the 11th child of her late parents.
Aduke Gold came to stardom with her live performance at the first remembrance of the late gospel artiste, Baba Ara. Professionally, she started music in 2004.
One of her famous track “Nitori Ogo” which she released in 2021 also brought her into limelight. Apart from music, she was a child educator with a passion for teaching young children.
Aduke was a graduate of history and international relations from Lagos State University. She also had her second degree in Early Childhood Education from the University of Lagos.
Instablog9ja
3 hrs
12
A man has shared an important lesson he has learnt from employment.
He said being likable is more important than being good at your job.
Investopedia
8 hrs
10
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U.S. markets were relatively calm Monday as Wall Street entered the home stretch of second-quarter earnings season after a volatile week of trading fueled by recession fears.
Trading activity often picks up during the month or so every quarter in which America's largest companies report results. But this past month, especially the last two weeks, has been characterized by abnormal swings in the stock market.
Volatility spiked last week to its highest since the onset of Covid-19 after a soft jobs report and a rate hike from the Bank of Japan sparked a multi-day sell-off.
Those intervening factors, as well as political uncertainty, have clouded the outlook for U.S. equities coming out of what has for the most part been a solid earnings season.
Below, we look at some of the major themes that have characterized this past quarter's earnings reports.
The S&P 500 as a whole was on track to report earnings growth of 10.8% as of Monday, according to data from FactSet. If that ends up being the actual growth rate once all 500 companies have reported, it will be the index’s highest since the fourth quarter of 2021 (31.4%).
And companies have so far beat earnings estimates at a rate (78%) slightly above both the 5-year (77%) and 10-year (74%) averages.
However, the magnitude of those beats (3.5% on average) has lagged the norm (8.6% over the last 5 years), suggesting some weakness lingers below the surface.
Despite resilient earnings, revenue growth has lagged profit as consumers and businesses alike have reined in spending.
The S&P 500 is on track to report revenue growth of 5.2% for the quarter, below the 5-year average of 6.7%. And the percentage of companies reporting better-than-expected revenue is also below the 5-year average.
Top lines have been squeezed in recent quarters by inflation-pinched and cost-conscious consumers. But not every company has felt the pain equally. Burger chain Shake Shack (SHAK) reported its second consecutive quarter of double-digit revenue growth, while competitor McDonald’s (MCD) saw same-store sales decline in the second quarter.
Analysts have attributed the disparity to the widespread perception that the price gap between fast-food chains and “fast-casual” restaurants like Shake Shack, Chipotle (CMG), and Sweetgreen (SG), has narrowed in recent years.
Executives have also noted the pressure that inflation, a slowing economy, and the evaporation of pandemic savings have put on lower-income Americans.
Big Tech companies are spending big on artificial intelligence, and they don’t plan to stop anytime soon.
Alphabet (GOOGL) and Microsoft (MSFT) increased their capital expenditures (CapEx) by 91% and 55%, respectively, in the quarter, with much of that increase going toward semiconductors and other hardware for AI-powering data centers. Both companies said they expect to spend even more in the next year.
The cost of Big Tech’s AI arms race scared Wall Street last month. The Magnificent Seven stocks notched a few of their worst days on record during the two weeks when most of the group reported earnings.
The stocks will be tested again when chipmaker Nvidia (NVDA) reports earnings on August 28. That cloud providers have spent so profusely on AI hardware bodes well for Nvidia’s sales, but expectations are high after four consecutive quarters of triple-digit revenue growth. Even with its recent pullback, the stock could be hit by signs of weakening demand or evidence substantiating reports its next-generation Blackwell chips will be delayed by a design flaw.
The financial sector has reported the third-largest increase in earnings of any sector this quarter. Profit grew by 17.6% from the same quarter last year, and all five sub-industries—Insurance, Capital Markets, Consumer Finance, Financial Services, and Banks—have reported earnings growth.
Elevated interest rates were once a boon to big banks, some of the sector’s largest players, as the interest they collected on loans grew. But their deposit costs have since caught up, eating into net interest income, a key financial metric for the industry.
Now, with the Federal Reserve appearing poised to cut interest rates from their highest levels in decades, the sector approaches an inflection point. Lower interest rates could again pad banks’ interest margins as their deposit costs decline at a faster clip than their income from fixed-rate loans.
The sector could also benefit from a pick-up in loan demand and a dash of relief for cash-strapped consumers, among whom credit card delinquency rates recently climbed to a 12-year high.
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Mark_
11 hrs
7
Nvidia Stock Jumps As Analysts Call It A 'Top Pick'
Nvidia (NVDA) Shares Rose Monday As...
Investopedia
11 hrs
11
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Nvidia (NVDA) shares rose Monday as Bank of America analysts called the stock a top pick and UBS analysts said a reported delay in Nvidia's Blackwell artificial intelligence (AI) chip may be less significant than initially thought.
Shares of Nvidia were recently up more than 4% in afternoon trading. The stock is up about 120% this year, though off highs seen earlier this summer.
UBS analysts said they expect initial Blackwell shipments to be delayed four to six weeks, based on discussions with Nvidia customers, compared to a three-month delay that was earlier reported. The delay will likely be "invisible to most, if not all, end customers," they said.
The analysts said they remained bullish on the stock, citing rising AI spending and enterprise demand growth Nvidia. They maintained a "buy" rating and price target of $150.
The comments came as Bank of America analysts called the stock a top pick Monday, referencing the AI chipmaker's exposure to the data-center market and strength with cloud-computing giants set to raise spending on infrastructure.
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Investopedia
12 hrs
9
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Shares of monday.com popped after the workplace software company topped analysts’ expectations with its second-quarter results and raised its full-year guidance.
The company’s latest projection calls for revenue growth of 31% to 32% in 2024, up from a prior estimate of 29% to 30%.
In the second quarter, revenue jumped 34% year-over-year to $236.1 million and earnings per share (EPS) swung to a profit of 27 cents from a loss of 15 cents. Both figures came in above the analyst consensus, per Visible Alpha. Monday.com stock was up nearly 12% in recent trading.
The company was "able to deliver exceptional efficiency in Q2, achieving our first quarter of GAAP operating profitability,” said Chief Financial Officer Eliran Glazer. “These results demonstrate not only our highly effective execution, but the strong demand we continue to see even through a challenging macroeconomic environment.”
Monday.com’s said its net dollar retention rate was 110%, while its net dollar retention rate for clients with annual recurring revenue above $100,000 was 114%. The company defines net dollar retention rate as the percentage of revenue it generated from existing customers compared to what it earned from those same customers a year earlier. A figure above 100% means the company is growing its revenue within its existing customer base.
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