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ABN AMRO 2Q Net Profit Rose Above Market Views — Update

By Sabela Nail Polish ABN AMRO Bank NV on Wednesday reported a rise in net profit for the second quarter of 2022, which came in significantly above market views, though it also posted higher operating expenses. The Dutch lender posted a net profit of 475 million euros ($485.1 million), compared with EUR393 million a year …

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Avaya shares plunge 21% on 3Q loss as company attempts to fix ‘operational and executional shortcomings’

Avaya Holdings Corp. AVYA, -45.53% shares plunged 37.5% Tuesday after the business communication company reported a third-quarter loss amid attempts to fix what new CEO Alan Masarek describes as “operational and executional shortcomings” set against the backdrop of a volatile economy. The company’s stock closed Monday’s session up 17.2% at $1.12. Avaya reported third-quarter sales …

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Betting markets favor DeSantis over Trump for 2024 Republican presidential nomination, as FBI raids Mar-a-Lago

Florida Gov. Ron DeSantis has the edge again over Donald Trump to score the 2024 Republican presidential nomination, according to the latest odds in the betting market PredictIt. The former president’s prospects have edged down as reports say the FBI searched his Mar-a-Lago estate as part of an investigation into whether he took classified records …

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Market route sends US state and city pension funds to worst year since 2009

Public pension plans lost a median 7.9% in the year ended June 30, according to Wilshire Trust Universe Comparison Service data released Tuesday, their worst annual performance since 2009 and a fresh sign of the chronic financial stress facing and retirement savers. Much of the damage occurred in April, May and June, when global markets …

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GoodRx stock rockets after earnings as company says snag with large grocer has been resolved

Shares of GoodRx Holdings Inc. popped nearly 50% in after-hours trading Monday after the company, which offers services for people looking to compare prescription drug prices, topped expectations with its latest results and indicated that a previously disclosed issue with a major grocer has since been “addressed.” The company reported a second-quarter net loss of …

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Clover Health stock drops after mixed earnings, announcement of impending CEO change

Shares of Clover Health Investments Corp. CLOV, +4.29%, which offers insurance plans to Medicare Advantage members, were off more than 6% in after-hours trading Monday after the company delivered a mixed earnings report and disclosed that its chief executive would be stepping down from that post at year’s end. The company posted a net loss …

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Novavax slashes sales guidance in half, stock plunges 34%

Novavax Inc. executives slashed their annual sales guidance in half Monday while wildly missing financial expectations, sending shares down more than 30% in after-hours trading. Novavax NVAX, -5.01% now projects total 2022 revenue of $2 billion to $2.3 billion, after previously stating a goal of $4 billion to $5 billion. The US Food and Drug …

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Nvidia stock tumbles after company says revenue fell way shy of expectations

Shares of Nvidia Corp. were tumbling more than 5% in morning trading Monday after the semiconductor company disclosed that it expects to fall well short of revenue expectations for its latest quarter, largely due to gaming weakness. The company expects fiscal second-quarter revenue of $6.7 billion, up from $6.5 billion a year before, whereas analysts …

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A surging stock market is on the verge of signaling a ‘huge’ move — but there’s a catch

The pace of the stock market’s rise as it continues a bounce off the June lows is nearing a magnitude that’s preceded “huge” moves in the past. The dilemma for investors is that those moves can be in “either direction,” analysts at Jefferies observed in a weekend note. Through Friday, the S&P 500 SPX, has …

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