GameStop Q2 Results Miss Wall Street, Shares Down 8%
U.S. set to end enhanced screening of some international travelers for COVID-19 — sources
WASHINGTON, Sept 9 (Reuters) – The U.S. government is set to end enhanced screening of some international passengers for COVID-19 and drop requirements that those flights arrive at 15 U.S. airports, according to U.S. and airline officials and a government document seen by Reuters.
The changes are set to take effect as early as Monday, according to the draft rollout plan seen by Reuters, but the move could still be delayed, U.S. officials said. (Reporting by David Shepardson; Editing by Sandra Maler)
Warburg Pincus-backed Petz prices shares at 13.75 reais each in IPO
SAO PAULO (Reuters) – Brazilian pet store chain Petz PETZ3.SA, controlled by U.S. private equity firm Warburg Pincus, priced its shares at 13.75 reais in an initial public offering on Wednesday, a source familiar with the matter said.
The price range for the IPO was between 12.25 reais and 15.25 reais. The company and its shareholders are still deciding on the amount of shares to be sold, the source said.
Gold Recovers After Early Weakness, Settles Higher For 2nd Straight Day
Gold prices recovered after early weakness on Wednesday as the dollar pared its gains, lifting the front-month futures contract to a positive close for a second straight day.
Equities rallied today as technology stocks rebounded after recent sharp setbacks, and most of the markets across Europe closed on a high note. The major U.S. averages, the Dow, Nasdaq and the S&P 500 climbed 2.4%, 3% and 2.6%, respectively, but the safe haven precious metal still managed to find support to close higher.
The dollar index, which rose to 93.66 early on in the session, extending recent gains, subsequently fell to 93.14 and was last seen at 93.28, down 0.18% from the previous close.
Gold futures for December ended up $11.70 or about 0.6% at $1,954.90 an ounce.
Silver futures for December gained $0.092 or 0.3% at $27.083, while Copper futures for December settled at $3.0515 per pound, gaining $0.0265 or 0.9%.
Despite the rally in stock markets today, gold’s safe-haven appeal has ensured the commodity’s firmness. Continued uncertainty on the Brexit front also contributed to the yellow metal’s uptick.
Meanwhile, traders were looking ahead to the monetary policy announcement from the European Central Bank, due on Thursday.
Amazon To Host 2020 Career Day; 33,000 Jobs On Offer
Tech behemoth Amazon (AMZN) Wednesday announced it will host its 2020 Career Day on September 16 and said it there are 33,000 new corporate jobs on offer.
Amazon said it will give the attendees of 2020 Career Day the opportunity to learn about the 33,000 corporate and tech jobs currently available across the country, and the thousands of additional hourly positions in the company’s operations network to be announced soon.
Amazon will also mobilize 1,000 of its recruiters to provide 20,000 career coaching sessions to attendees in a single day.
Amazon currently has 33,000 openings for jobs that include Amazon’s smart home device, Alexa; Amazon Web Services (AWS); Operations Technology and Prime Video.
Anyone can participate in Career Day 2020 by going to amazon.jobs/careerday to register and book an appointment with an Amazon recruiter.
“COVID-19 continues to affect millions of people across the country, and people are eager for the opportunity to get back to work,” said Beth Galetti, Senior Vice President Human Resources at Amazon. “We’ve created more jobs in the U.S. over the past decade than any other company – and we are continuing to hire people from all backgrounds and at all skill levels. We are glad to be able to mobilize more than 1,000 experienced recruiters and HR professionals to help job seekers across the country learn about opportunities at Amazon and elsewhere.”
Last year, 17,000 job seekers attended Amazon Career Day events in six U.S. cities – and more than 200,000 people applied for jobs in the week leading up to the even
Treasuries Move Lower Amid Rebound On Wall Street
Following the advance seen during the previous session, treasuries moved back to the downside during trading on Wednesday.
Bond prices initially showed a lack of direction but slid into negative territory as the day progressed. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 1.9 basis points to 0.703 percent.
The pullback by treasuries came as stocks on Wall Street moved sharply higher following the sell-off seen over the three previous sessions.
Technology stocks helped to lead the way higher as traders looked to pick up stocks at relatively reduced levels following recent weakness.
Treasuries saw some further downside in afternoon trading after the Treasury Department revealed its auction of $35 billion worth of ten-year notes attracted below average demand.
The ten-year note auction drew a high yield of 0.704 percent and a bid-to-cover ratio of 2.30, while the ten previous ten-year note auctions had an average bid-to-cover ratio of 2.47.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Looking ahead, the Treasury is due to announce the results of this month’s auction of $23 billion worth of thirty-year bonds on Thursday.
Trading on Thursday may also be impacted by reaction to Labor Department reports on weekly jobless claims and producer price inflation.
GameStop Q2 Results Miss Wall Street, Shares Down 8%
Shares of GameStop Corp. (GME) slipped over 8% in after-hours trading on Wednesday after the video game retail chain’s fiscal second-quarter results missed Wall Street estimates.
Grapevine, Texas-based GameStop reported second-quarter net loss of $111.3 million or $1.71 per share, narrower than last year’s loss of $415.3 million or $4.15 per share last year.
Adjusted loss were $91.2 million or $1.40 per share compared to $32.0 million or $0.32 per share last year. Analysts polled by Thomson Reuters expected loss of $1.13 per share for the quarter.
Revenue for the quarter slipped 26.7% to $942.0 million from $1.29 billion last year. Analysts had a consensus revenue estimate of $1.02 billion.
George Sherman, GameStop’s chief executive officer, said, “The second quarter saw strong progress toward our strategic initiatives, fueling an 800% increase in global E-commerce sales, a $133.7 million reduction in SG&A and a significant improvement in our balance sheet with $735.1 million in cash at quarter-end and a 50% reduction in inventory, as compared to the second quarter last year.”