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Instablog9ja
5 hrs
9
Singer Davido has hinted at retirement amidst pressure and competition.
He said after his next album he will be out because you guys really wanted him out.
Investopedia
5 hrs
15
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Shares in short-term accommodation marketplace Airbnb (ABNB) slid more than 8% in extended trading on Wednesday after the company issued a weaker-than-expected current-quarter outlook, overshadowing its first-quarter earnings and revenue that came in ahead of analysts’ expectations.
For the current quarter ending in June, the company sees net sales ranging between $2.68 billion and $2.74 billion, representing top-line growth of 8%-10% from a year earlier, with the middle portion of that forecast falling below Wall Street estimates of $2.74 billion.
The company said in its shareholder letter that its current-quarter results face “a significant sequential headwind” from the timing of Easter, an added leap-year day in the prior quarter, and the impact of foreign exchange fluctuations. However, the rentals platform sees accelerating sequential revenue growth between the second and third quarters, driven by a summer travel backlog spearheaded by the Paris Olympics in July and August.
For the three month period ending March 31, the company posted adjusted earnings of 41 cents per share, well above the 24-cents-a-share figure modeled by analysts. Revenue in the period of $2.14 billion grew 18% from the last year’s first quarter and topped the $2.06 billion consensus view.
Gross bookings registered $22.9 billion, up 12% year-over-year (YOY), while nights and experiences booked on the platform improved 9.5% from a year earlier to 132.6 million, edging past expectations of 132.1 million.
The company noted that one-off events, such as the solar eclipse in North America, helped drive user engagement to the platform in the quarter, adding that 500,000 guests booked stays during the eclipse.
Since topping out in late March, the Airbnb share price has consolidated within a narrow range around the 50-day moving average, indicating a lack of conviction from both buyers and sellers.
Amid the company’s weaker-than-expected earnings report, investors should eye the region between $141 and $148 where the stock encounters a zone of support from the 200-day moving average and price action dating back to September last year. A failure to hold above this crucial area on the chart opens the door for a decline down to lower support around $126.
Airbnb shares fell 8.4% to $144.58 in after-hours trading. Through the close of trading Wednesday, the stock had gained about 25% over the past 12 months.
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Instablog9ja
6 hrs
12
A Bill which seeks to increase the salaries and allowances of judicial officers on Thursday, May 9, scaled second reading at the Senate.
The resolution of the Senate followed its consideration and debate on a bill titled: “A bill for an act to prescribe the salaries, allowances and fringe benefits of judicial office holders in Nigeria and for related matters (2024).” The bill was sponsored by the deputy majority leader of the Senate Senator Ashiru Yisa (APC-Kwara South).
The House of Representatives on March 20 passed the bill which provides a monthly package of N5.39 million for the Chief Justice of Nigeria (CJN). The executive bill also provides a total package of N4.21 million for Justices of the Supreme Court, while the president of the Court of Appeal is to earn a total monthly package of N4. 48 million.
In addition, Justices of the Court of Appeal are to earn a total monthly package of N3.73 million, while the Chief Judge of the Federal High Court, President of the National Industrial Court, Chief Judge of the FCT High Court, Grand Khadi, FCT Sharia Court of Appeal, President of Customary Court of Appeal, Chief Judge of State High Court and Grand Khadi of State Sharia Court of Appeal and President of State Customary Court of Appeal are to earn a monthly package of N3.53 million.
Other allowances not embedded in the total monthly package include leave allowances, estacode per night of $2000 when applicable, duty tour allowances when applicable, severance gratuity of N80.78 million after successful completion of tenure as well as an option of motor vehicle loan to be repaid before the expiration of tenure.
It would be recalled that President Bola Tinubu had in a letter read by Senate president, Godswill Akpabio, during plenary on March 20 proposed a salary increase for judicial officers in the country.The President in the letter argued that the bill would promote the independence and capacity of the Nigerian judiciary system.
Senator Yisa in his lead debate said remuneration was needed toreflect the contemporary socioeconomic realities of the times. He argued that the proposed legal framework would bring about significant improvement in the welfare, capacity, and,independence of the judiciary, which have remained contentious issues of public discourse over the years. In his contribution, the deputy president of the Senate, Senator Barau Jibrin, thanked President Tinubu for proposing a Bill to increase the salaries and allowance for Judicial Officers in the country.
Barau said: “I joined the President of the Senate to commend President Bola Ahmed Tinubu for bringing forward this Bill. This is very important and he has done well, not only for the judiciary but for the entire nation. “Mr. President, by the nature of the judicial officers, they don’t agitate. They cry in silence, and they don’t speak out. Other workers agitate, and they stage protests. But the judiciary doesn’t talk; they cry in silence.
Now, the president of the country has spoken for them. What he did is something laudable and we are applauding him here. Because a country that didn’t take its judiciary in a very important passion is doomed. And when you want to take the judiciary seriously, you have to take the remuneration of the judiciary staff seriously. That is very important, and that is what he has done. They have stagnated for several years.
What the president has done should be supported and we will give him more support to continue to work on this kind of trajectory for the development of the nation. So, Mr. President, I joined you and other colleagues to commend President Bola Ahmed Tinubu.”
Senator Mohammed Monguno (APC – Borno North) Monguno, said improving the welfare of judges will insulate them from corruption and ensure they deliver just and fair judgments. On his part, Senator Orji Uzor Kalu (APC-Abia North), said: “No right-thinking Nigerian will not think that it is right to keep the judiciary comfortable. I want to thank the executive for deeming it fit to increase the salaries of judges at all levels.”
Senators later approved that the bill be read for a second time when it was put to voice vote by Akpabio. Akpabio thereafter referred the Bill to the Committee on Judiciary, Human Rights, and Legal Matters for further legislative input and to report back in four weeks.
Investopedia
6 hrs
13
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Arm Holdings (ARM) shares tumbled over 6% in extended trading Wednesday after the British semiconductor chip designer's better-than-expected results for the fiscal fourth quarter were overshadowed by guidance for fiscal 2025 that missed estimates.
The company's revenue for the fourth quarter of fiscal 2024 was $928 million, a 47% year-over-year increase and above analysts' projections. Net income came in at $224 million or 21 cents per share, up from $3 million or 0 cents per share in the year-ago quarter, and also blew past analysts' expectations, according to estimates compiled by Visible Alpha.
The company indicated record-high royalty revenue drove its revenue beat, accounting for $514 million of total revenue. Arm highlighted that "chips based on Armv9 technology now contribute around 20% of royalty revenue, up from around 15% last quarter."
"From cloud to edge, all AI software models, from GPT to Llama, rely and run on the Arm compute platform," Arm CEO Rene Haas said, adding that "as these models become larger and smarter, their requirements for more compute with greater power efficiency can only be realized through Arm."
However, despite what the CEO described as "strong tailwinds heading into FYE25 as AI is driving increased demand for Arm-based technology," the company's guidance for fiscal 2025 missed analysts' expectations.
The company said it anticipates its full-year revenue for fiscal 2025 to be between $3.8 billion and $4.1 billion, up from $3.2 billion in fiscal 2024, but short of the $4.03 billion analysts expected, estimates compiled by Visible Alpha indicated.
Arm shares were down nearly 7% at $99 in extended trading around 5:30 p.m. ET Wednesday following the release of the company's earnings report.
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Investopedia
7 hrs
14
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Major U.S. equities indexes were mixed on Wednesday. The rally dating back to last week appeared to lose some momentum as Federal Reserve officials struck a cautious tone and more companies released their quarterly results.
The S&P 500 was essentially flat at the end of the midweek session. The Dow closed the day 0.4% higher, while the Nasdaq slid 0.2%.
Vistra Corp. (VST) became the newest component of the S&P 500 on Wednesday, and shares of the power generation company surged 9.1%, topping the benchmark index on the day of their debut. The utility reported a year-over-year revenue decline in the first quarter, reflecting an impact of storms and mild winter weather. However, Vistra expects synergies from its recently closed acquisition of nuclear-focused generator Energy Harbor to drive strong growth.
Arista Networks (ANET) shares jumped 6.5% following the cloud networking giant's first-quarter earnings report. In addition to beating top- and bottom-line forecasts, Arista provided better-than-expected guidance for the current quarter amid solid demand for artificial intelligence (AI) networking solutions. The company also announced a $1.2 billion stock buyback authorization.
Shares of Globe Life (GL) added 5.1% after the life and supplemental health insurer declared a quarterly dividend payout. Although the firm remains the subject of a Department of Justice probe into potential fraud and a class-action lawsuit related to alleged securities law violations, Globe Life is taking steps to return value to shareholders, authorizing a stock buyback plan last week ahead of this week's dividend announcement.
Uber Technologies (UBER) shares posted the heaviest losses in the S&P 500, dropping 5.7% after the ridesharing giant reported its first-quarter financial results. Although its revenue matched forecasts, gross bookings fell shy of expectations, and Uber posted an unexpected net loss as hundreds of millions in charges related to revaluations of its investments weighed on profitability.
Broadridge Financial Solutions (BR) shares slipped 5.4% in the wake of the fintech firm's fiscal third-quarter earnings report. Despite improving year over year, earnings and revenue for the period came in below expectations. Broadridge now expects full-year recurring revenue growth toward the low end of its previous guidance range.
Shares of Match Group (MTCH) lost 5.4% after the online dating platform operator issued lower-than-expected revenue guidance for the current quarter. The subdued forecast comes as users trim their spending on dating apps in the uncertain economic environment. Worldwide downloads of Tinder reportedly fell 6% year over year in the first quarter, marking the third straight quarter of declines.
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Instablog9ja
8 hrs
15
An Influencer has written about successful women who lead successful organizations but str¥ggles in their personal lives.
He said I know a number of successful ladies,who lead successful organizations and they are fearless in their work,but they struggle in their personal lives,going through divorce,some with failed relationships and some going through therapy.
Is this success when it costs you relationships and mental health? The truth is there is always a sacrifice to pay for every success.
