Online marketplace Etsy (NASDAQ:ETSY) missed Wall Street’s revenue expectations in Q4 CY2024 as sales only rose 1.2% year on year to $852.2 million. Its GAAP profit of $1.03 per share was 9.7% above analysts’ consensus estimates.
Nikola said on Wednesday it had filed for Chapter 11 bankruptcy protection and would pursue a sale of its assets, the latest electric-vehicle maker to stumble after grappling with tepid demand, rapid cash burn and funding challenges. EV startups that went public during the pandemic, promising to revolutionize the sector, such as Fisker, Proterra and Lordstown Motors have filed for bankruptcy in recent years as funding for their capital-intensive operations dried up due to high interest rates and flagging demand. "Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate," Nikola CEO Steve Girsky said in a statement.
Low code software development platform provider Appian (Nasdaq: APPN) beat Wall Street’s revenue expectations in Q4 CY2024, with sales up 14.7% year on year to $166.7 million. On the other hand, next quarter’s revenue guidance of $163 million was less impressive, coming in 1.8% below analysts’ estimates. Its non-GAAP loss of $0 per share was $0.01 above analysts’ consensus estimates.
Nigeria has filed a lawsuit seeking to compel cryptocurrency exchange Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country and $2 billion in back taxes, court documents showed on Wednesday. Authorities blame Binance, the world's largest crypto exchange, for Nigeria's currency woes and detained two of its executives in 2024 after cryptocurrency websites emerged as platforms of choice for trading the local naira currency. Binance, which is not registered in Nigeria, did not immediately respond to a request for comment.
Solar power systems company SolarEdge (NASDAQ:SEDG) reported Q4 CY2024 results topping the market’s revenue expectations, but sales fell by 37.9% year on year to $196.2 million. On the other hand, next quarter’s revenue guidance of $205 million was less impressive, coming in 1.3% below analysts’ estimates. Its non-GAAP loss of $3.52 per share was significantly below analysts’ consensus estimates.
Manufacturer of analog chips, Analog Devices (NASDAQ:ADI) announced better-than-expected revenue in Q4 CY2024, but sales fell by 3.6% year on year to $2.42 billion. Guidance for next quarter’s revenue was better than expected at $2.5 billion at the midpoint, 1.9% above analysts’ estimates. Its non-GAAP profit of $1.63 per share was 5.7% above analysts’ consensus estimates.
Geospatial technology provider Trimble (NASDAQ:TRMB) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, with sales up 5.5% year on year to $983.4 million. The company expects next quarter’s revenue to be around $809 million, close to analysts’ estimates. Its non-GAAP profit of $0.89 per share was in line with analysts’ consensus estimates.
The fourth generation of the lower-cost model, so far known as iPhone SE, will take on popular Android smartphones at a time when consumer electronics makers are looking to add artificial intelligence tools into their devices. The current-generation of iPhone SE, released in 2022, is available at $429 and the latest version is likely to be priced at a premium to the outgoing model. "If the SE 4 offers meaningful upgrades in design, performance, and AI features, it could reinvigorate its market appeal and strengthen Apple's position across different price segments," Counterpoint Research senior analyst Varun Mishra said.
Dogecoin (CRYPTO: DOGE) is the antithesis of the type of investment that legendary value proponent Warren Buffett tends to make. Chasing the crowd in hype-driven plays with no real fundamental value is the total opposite of his patient, farsighted, and totally grounded approach to buying stocks.
