GameStop beat sales expectations with $790.1 million in net sales driven by collectibles, but it reported a $4.3 million net loss and falling adjusted EBITDA, leaving the overall picture unchanged.
GameStop reported higher-than-expected sales driven by collectibles, with net sales of $790.1 million. The company still posted a $4.3 million net loss and lower adjusted EBITDA, so the sales beat and profit weakness cancel each other for now.
Marvell had its price target raised to $365 by Bank of America, with the analyst citing a large AI infrastructure market that should boost demand for its custom chips and connectivity products.
Oracle reported cloud revenue growth, with total cloud revenue at $11.6 billion and cloud infrastructure revenue up sharply, showing strong demand for its cloud and AI services.
Robinhood released August metrics that led shares lower, with investors noting a sharp monthly decline in prediction-market activity and other mixed trading metrics.
Casey's reported first-quarter results that beat Wall Street expectations but also showed slower same-store sales growth, so the report does not change the company's picture.
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