Day: September 22, 2020

TransferWise reports fourth straight year of profitability

spike 1 month ago

TransferWise co-founders Kristo Käärmann and Taavet Hinrikus.

TransferWise

LONDON — TransferWise, one of Europe’s most valuable private financial technology firms, just posted its fourth consecutive year of profitability.

The online money transfer service said Wednesday that its net profit more than doubled to £21.3 million ($27.1 million) in the fiscal year ending March 2020. Annual revenues came in at £302.6 million, TransferWise said, up almost 70% from the previous year.

TransferWise’s annual accounts have been in the black since 2017, a rare display of sustainable growth in the fintech sector. Other start-ups in the space have reported deepening losses due

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Stock futures flat after S&P 500 breaks 4-day losing streak

spike 1 month ago

U.S. stock futures were flat in overnight trading on Tuesday after the S&P 500 experienced its first positive day in five. 

Dow futures rose 35 points. S&P 500 futures and Nasdaq 100 futures dipped 0.02% and 0.03%, respectively.

Better-than-expected earnings from Nike and KB Home lifted sentiment on Wall Street after the bell on Tuesday. Nike saw digital sales rise 82%, driving the stock up 6% after hours. Tesla’s stock also rose in extended trading after Elon Musk said the electric car maker’s deliveries are expected to increase 30% to 40% in 2020. 

On Tuesday, the major averages snapped multi-day

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Trump says U.S. will remain open as UK imposes coronavirus restrictions

spike 1 month ago

U.S. President Donald Trump waves prior to boarding Air Force One as he departs Washington for campaign travel to Minnesota at Joint Base Andrews, Maryland, September 18, 2020.

Tom Brenner | Reuters

President Donald Trump on Tuesday said that the United States would not impose a lockdown to curb the spread of the coronavirus following additional new measures imposed on businesses and residents in the U.K. to control its increasing case count. 

On Tuesday, U.K. Prime Minister Boris Johnson walked back some of the lifted lockdown measures in England, telling people to work from home again if possible and ordering

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Stitch Fix (SFIX) earnings Q4 2020

spike 1 month ago

Katrina Lake, CEO of Stitch Fix

Adam Jeffery | CNBC

Stitch Fix shares dropped by more than 15% in after-hours trading Tuesday as the company reported steep losses for the fiscal fourth quarter.

Here’s how the company did during its fiscal fourth quarter ended Aug. 1 compared with Refinitiv estimates:

  • Loss per share: 44 cents vs. 16 cents per share, expected
  • Revenue: $443.4 million vs. $414.9 million, expected

The online personal styling service reported a fourth-quarter loss of $44.5 million, or 44 cents per share, compared with earnings of $7.2 million, or 7 cents per share, a year ago. 

Revenue

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