Dave & Buster’s Stock Drops As Earnings Miss Estimates Amid Soft Consumer Demand
~1.9 mins read

Dave & Buster’s Entertainment (PLAY) shares slumped more than 10% in premarket trading on Thursday after the restaurant and entertainment chain posted quarterly results that fell short of expectations amid challenging economic conditions weighing on consumer demand.

For the quarter ending May 5, the company reported diluted earnings of 99 cents per share, significantly below the $1.73 a-share-figure expected by analysts. Revenue in the period of $588.1 million fell 1.5% from a year earlier and came in below the consensus forecast of $616 million. Moreover, same store sales declined 5.6% from last year’s equivalent quarter, a steeper fall than the 3.8% Street estimate.

Breaking down the top line, the company’s entertainment revenue, which makes up about two-thirds of net sales, fell 1.9% to $385.7 million, while revenue in its food and beverage business tallied $202.4 million, down from $204.2 million in the same quarter last year.

Although the company did not quantify guidance, it said that sales and profit have improved in the current quarter as the company continues to freshen its restaurants, build its loyalty program and upsell food and games through various promotional strategies. However, Dave & Buster's CEO Chris Morris noted in the company’s earnings statement that "complex" economic conditions continue to weigh on consumer demand.

Over the past year, restaurants in most categories have dealt with the challenge of raising prices to cover increasing food and wage costs without turning away inflation-weary customers as they rein in spending on non-essential activities like dining out.

Since Dave & Buster's shares formed a bull trap in early April, the price has continued to trend lower. Although the price managed to close above the closely-watched 200-day moving average leading into the quarterly results, it sits poised to resume its sell-off following the chain's earnings and revenue miss

Looking ahead, investors should monitor if buyers can defend a zone of support from prior price action over the past 15 months between $45 and $47. A failure to hold this key area could see the price revisit lower support around $37.50.

The stock was down 10.1% at $45.25 about two hours before Thursday's opening bell.

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5 Things To Know Before The Stock Market Opens
~3.4 mins read

Tesla (TSLA) shares are jumping in premarket trading after Chief Executive Officer (CEO) Elon Musk said shareholders are set to approve his $55.8 billion pay package and support the electric vehicle (EV) maker's move to reincorporate in Texas at the company's annual shareholder meeting today; Adobe (ADBE) shares are edging higher ahead of the Photoshop maker's second-quarter results after the bell, where its AI monetization will be in focus; the Producer Price Index (PPI) reading is due this morning and is expected to affirm the trend of moderating inflation; Broadcom (AVGO) shares are surging after a second-quarter revenue beat fueled by AI product sales, plus a 10-for-1 stock split; and shares of Dave & Buster’s Entertainment (PLAY) are tumbling after the game-themed restaurant chain posted first-quarter results that fell short of estimates. U.S. equity futures are mixed after the Nasdaq and S&P 500 once again closed at record highs Wednesday as Consumer Price Index (CPI) data showed inflation slowed in May and the Federal Reserve tentatively forecast cutting interest rates once before the end of the year. Here’s what investors need to know today.

Tesla (TSLA) shares are rising more than 6% in premarket trading as CEO Elon Musk said late Wednesday that shareholders are set to approve his $55.8 billion pay package and the EV maker’s reincorporation in Texas at the company's annual shareholder meeting today. “Both Tesla shareholder resolutions are currently passing by wide margins! Thanks for your support!” Musk said in a post on X late Wednesday. The compensation plan was approved by investors in 2018, but was struck down by a Delaware court earlier this year that sided with an investor who sued Tesla, claiming Musk's compensation was excessive. The shareholder vote could affect Musk's ranking among the world's richest people, as well as Tesla's stock price, with analysts at Jefferies and Piper Sandler warning a rejection of the pay package could send Tesla shares lower.

Adobe (ADBE) shares are edging higher ahead of second-quarter earnings for the 2024 fiscal year after the closing bell, with investors looking for sustained momentum in its Digital Media segment and insight into the Photoshop maker’s artificial intelligence (AI) monetization strategy. Adobe recently unveiled an AI assistant subscription add-on to its other offerings, which could help the company better monetize the emerging technology and compete with other big tech. Still, the company's shares are down by more than a fifth this year, "pressured by competitive concerns and underwhelming near-term genAI monetization," Deutsche Bank analysts said recently. 

The Producer Price Index (PPI) is due at 8:30 a.m. ET, and is expected to continue showing the cooling trend for inflation reflected in yesterday’s May CPI numbers. The report will be closely watched, as wholesale prices increased by 2.2% on a year-over-year basis in April, the largest increase in a year. Inflation for May is forecast to rise 0.1% versus 0.5% in April, according to a survey of economists by andwhile core PPI, which takes volatile food and fuel prices out of the measurement, is expected to rise 0.2% compared with 0.4% in April. The Federal Reserve on Wednesday held interest rates steady and dialed back projections for rate cuts this year to just one—even after the May CPI data suggested price pressures moderating. A softer-than-forecast PPI reading could figure into Fed officials' future rate-cut plans this year.

Shares of Broadcom (AVGO) are surging more than 13% in premarket trading after the chipmaker reported better-than-expected fiscal second-quarter revenue, fueled by AI product sales reaching a record high. Broadcom CEO Hock Tan said the results were also boosted by AI demand and VMware, a cloud-computing company the chipmaker bought late last year. Following in the footsteps of Wall Street darling Nvidia (NVDA), Broadcom also announced a 10-for-1 stock split. The company said the split is aimed at making its shares “more accessible to investors and employees."

Shares of Dave & Buster’s Entertainment (PLAY) are tumbling more than 10% in premarket trading after the game-themed restaurant chain after the restaurant and entertainment chain posted first-quarter results that fell short of expectations amid what CEO Chris Morris called "a complex macroeconomic environment and consumer demand curve." The company reported diluted earnings of 99 cents per share, significantly below the $1.73-per-share figure expected by analysts. Revenue in the period of $588.1 million fell 1.5% from a year earlier and came in below the consensus forecast of $616 million. Moreover, same-store sales declined 5.6% year-over-year, a steeper fall than the 3.8% Street estimate.

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Alta Equipment Group Inc.’s Cash Flow Statements, 2019-2023
~1.5 mins read
In this article, we’ll take a closer look at Alta Equipment Group Inc.’s KPIs from the cash flow statement, and the first one will be its cash flows for the past five years:
The company’s cash from operating activities is showing an upward trend, while investing activities do not provide the cash at all due to huge expenditures on property, equipment, and acquisitions.
Cash from financing activities, on the other hand, is always positive because the company borrows money. The company uses credit lines, long-term borrowings, and floor plan financing.
Both capital expenditures and dividends at Alta Equipment Group Inc. are increasing. While it’s good when dividends are growing, capital expenditures should decline, or at least stay at the same level.
Stock repurchases and issuances rarely occur, as you can see on the chart. Despite the lack of benefits for shareholders from stock buybacks, this situation ultimately benefits the company and its shareholders in the long run, as the company actively engages in growth and expansion, making use of available resources.
Alta Equipment Group Inc.’s free cash flow is constantly negative due to CAPEX being higher than cash from operating activities, but its overall trend is also heading in the right direction, as you can see in the picture.
Its CAPEX to net income ratio is too high; it far exceeds 25%, which is considered desirable by investors, but again, the company spends a lot of resources on growth and expansion, so in the future this ratio might stabilize.
In conclusion, Alta Equipment Group Inc.’s cash flow statement showed that the company is getting better year over year in some aspects, such as dividends, cash from operating activities, etc., but it also revealed that the company relies heavily on debt to sustain itself.
Watch Out For These Levels In Broadcom's Stock Price
~1.8 mins read

Shares in Broadcom (AVGO) surged more than 14% in Wednesday’s extended-hours trading session after the chipmaker reported better-than-expected fiscal second-quarter revenue, fueled by artificial intelligence (AI) product sales reaching a record high. Following in the footsteps of Wall Street darling Nvidia (NVDA), Broadcom also announced a 10-for-1 stock split.

Below, we take a closer look at Broadcom’s chart and use technical analysis to identify key levels to watch out for.

Like the chart of many other tech stocks trading near their all-time high (ATH), Broadcom shares have formed an ascending triangle suggesting a continuation of the current longer-term uptrend. Within the pattern, the price has touched both the upper and lower trendlines several times since the start of its formation in early March to establish clearly identifiable support and resistance levels.

Indeed, leading into the chipmaker’s quarterly results, the stock has broken out above the ascending triangle on increasing volume, indicating bullish expectations by market participants.

Given the stock sits positioned to climb to a record high on Thursday, investors can forecast a profit target using technical analysis by applying the measuring principle. To do this, simply calculate the distance of the ascending triangle’s widest portion in dollars and add that amount to the pattern’s top trendline.

In this particular case, add $330 to $1,415, which projects a price target of $1,745. This provides a general area on the chart where the stock may run into selling pressure, especially if other indicators, such as the relative strength index (RSI), warn of overbought conditions.

When the stock undergoes retracements, investors should monitor the ascending triangle’s top trendline at $1,415, an area on the chart that will likely flip from prior resistance into future support. In saying that, a breakdown below this technically important level could see the stock revisit lower support around $1,132, where the price finds a confluence of support from the December swing high and rising 200-day moving average.

Broadcom shares rose 14.6% to $1,713.37 in after-hours trading Wednesday.

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DELSU Student Arrested For F@king His Abd¥ction And Demanding N50 Million Ransom From His Dad
~1.1 mins read

Police operatives in Delta State have arrested a 400-level student of the Delta State University (DELSU), Abraka, identified as Nelson Eserada, for f@king his own abd¥ction.

The suspect, who was arrested alongside one Jerry Lawrence on Monday, June 10, was said to had demanded a ransom of N50 million in bitcoin.

The command’s spokesperson, Bright Edafe in a statement on Thursday, June 13, said that the suspect’s father had already paid a sum of N5 million through a bitcoin account belonging to Lawrence.

According to the police, “Following complaints received from the father of one Nelson Eserada ‘M’ at Abraka Division that his son Nelson Eserada was kidn@pped and that the kidn@ppers were demanding a ransom of Fifty million naira (#50,000,000) in bitcoin. The suspect also sent a video of the supposed victim ti£d and being tort¥red.

The DPO Abraka SP Fabian Ayameh swiftly moved into action, embarked on a technical intelligence-led investigation and on 10/06/2024 at about 2000hrs, one Jerry Lawrence ‘M’ of Jeddo Community Warri was arrested in connection with the crime.

Preliminary investigation revealed that the suspect conspired with the said Nelson Eserada a 400 Level Student of Banking & Finance Department of the Delta State University Abraka and that the father had already paid the sum of Five Million and Two Hundred Thousand Naira ransom through a Bitcoin account belonging to the principal suspect Jerry Lawrence.

The suspects are in custody and investigation is ongoing.”

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I Will Never Stop Speaking About My Husband,” Actor Etim Effiong’s Wife, Toyosi,
~0.6 mins read

Toyosi, the wife of actor, Daniel Etim Effiong, has opened up on how she deals with insecurities after marrying the popular figure.

In an interview with Terms and Conditions on Pulse, Toyosi shared that she has significantly evolved since marrying her husband, Etim.

Approaching their seventh anniversary in November, she reflected on the challenges she faced during the early years of their marriage.

Toyosi, a mother of three, mentioned that she has reached a point where she understands that many people are unable to contain their excitement upon seeing her husband, noting that some even freeze in his presence.

She also insisted that she wouldn’t stop speaking positively about her husband, after she received some backlash from online critics because of the manner in which she described the attention he receives from his fans.

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