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Stocks making the biggest moves midday: Roku, Foot Locker, Alibaba & more

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Customers walk with Foot Locker shopping bags on the Third Street Promenade in Santa Monica, California.

Patrick T. Fallon | Bloomberg | Getty Images

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Check out the companies making headlines in midday trading on Friday:

Alibaba — Alibaba stock dropped about 4.5% amid escalating tensions between the U.S. and China. Earlier this week, the U.S. Senate passed a bill by unanimous consent that could result in the delisting of Chinese companies like Alibaba. Friday’s decline came despite a stellar earnings report from the Chinese e-commerce giant. Alibaba beat estimates on both the top and bottom lines for its fiscal fourth quarter, and topped $1 trillion in gross merchandise volume for the first time due to a surge in demand amid the coronavirus pandemic.

Roku — Streaming platform Roku fell about 4.5% following a downgrade to equal weight from overweight at Stephens. The reason for the hold rating centered around Roku’s partnership with Smart TV company TCL. Stephens said although the partnership is good from a market perspective, there is not much upside for Roku. “We don’t think it can get much better from here for Roku,” the analyst said. 

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Foot Locker — Shares of Foot Locker tumbled nearly 12% after the athletic footwear and apparel retailer posted disappointing quarterly results. The company lost an adjusted 67 cents per share for its latest quarter, wider than the 25-cent loss that Wall Street was expecting, according to Refinitiv. Foot Locker also temporarily suspended its quarterly dividend amid the downturn brought on by the pandemic.

Deere — The equipment maker gained more than 1% after the company beat top- and bottom-line expectations for the second quarter. Deere earned $2.11 per share, compared with estimates of $1.62, while revenue came in at $8.22 billion, which was ahead of estimates but lower than in the same quarter last year. The company also said that it expects global equipment sales to drop between 30% and 40% this year due to the pandemic.

Lululemon Athletica — Stock of the athletic retailer jumped more than 1% to a new all-time high after the company said that it has reopened 150 stores across North America, Europe, Asia, New Zealand and Australia. The retailer said it has plans to reopen an additional 200 stores in the next two weeks.

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Deckers Outdoor — The footwear stock jumped more than 6% after reporting higher than expected revenue for its fiscal fourth quarter. The company reported $374.9 million of revenue for the quarter, while analysts expected $355.4, according to Refinitiv. Net sales of the company’s Hoka One One and Teva brands both increased during the quarter.

Hewlett Packard — Shares of the technology company dropped roughly 12% after reporting quarterly results that missed expectations. The company reported adjusted earnings per share of 22 cents and $6.01 billion in revenue for its fiscal second quarter. Wall Street analysts were looking for 29 cents of per-share earnings and $6.30 billion of revenue, according to Refinitiv. The company’s CEO said in a statement that the backlog of orders was twice as large as normal due to the pandemic.

e.l.f. Beauty — Shares of the cosmetics company rallied more than 16% on the back of better-than-expected results for its fiscal fourth quarter. E.l.f. earned 6 cents per share on revenue of $74.7 million. Analysts polled by FactSet expected a profit of 5 cents a share on sales of $67 million. “Given our fiscal 2021 results and execution of our five strategic imperatives, we believe we are well positioned relative to the category to navigate the challenges posed by COVID-19,” CEO Tarang Amin said in a statement.

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— CNBC’s Fred Imbert, Pippa Stevens, Maggie Fitzgerald, Jesse Pound and Yun Li contributed reporting. 

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(Note: This is a Article Automatically Generated Through Syndication, Here is The Original Source

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Net Worth

Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

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Stephen M. Ross Net Worth 2024: How Much is the Chairperson of The Related Companies Worth?

Who is Stephen M. Ross?

Stephen M. Ross, the Chairperson of The Related Companies, is a distinguished figure in the real estate sector, renowned for his significant contributions and profound impact. Born on May 10th, 1940, in Detroit, Michigan, Ross embarked on his journey into real estate at a young age, demonstrating remarkable diligence and entrepreneurial spirit. Despite initially pursuing a career as a tax attorney, Ross soon discovered his genuine passion for real estate investment, laying the foundation for his illustrious career.

Stephen M. Ross Career

Ross’s career trajectory is marked by pioneering ventures and transformative projects. In 1972, he founded The Related Companies, which initially focused on subsidized low and moderate-income apartments. Over the years, Ross transitioned to higher-profile projects, including the iconic Hudson Yards development, valued at over $7 billion. His visionary approach and strategic partnerships have cemented his reputation as a prominent figure within the real estate industry.

Stephen M. Ross Net Worth

As of 2024, according to Celebrity Net Worth, Stephen M. Ross’s net worth stands at an impressive $10 billion, solidifying his status as one of the wealthiest individuals globally. Ross’s wealth accumulation is attributed to his unparalleled success as a real estate mogul, with an estimated annual income of nearly $700 million derived from royalties on his diverse property holdings. His continued involvement in the real estate sector, with ongoing projects in New Jersey and Florida, further contributes to his substantial net worth.

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Stephen M. Ross Age

Currently, Stephen M. Ross is 83 years old, born on May 10th, 1940. Despite his age, Ross remains actively engaged in his professional pursuits, demonstrating resilience and dedication to his craft.

Stephen M. Ross Family: Wife and Children

Ross’s personal life is characterized by familial bonds and enduring relationships. He is happily married to Kara Ross and is the proud father of four children. Ross’s commitment to family values underscores his holistic approach to life and business.

Stephen M. Ross Height and Weight

Physically, Stephen M. Ross stands at a height of 6 feet 2 inches (1.88m) and maintains a healthy body weight of around 72 kg. Despite his busy schedule, Ross prioritizes his health and well-being, engaging in activities such as volleyball and tennis.

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Net Worth

Mike Markkula Net Worth 2024: How Much is the Former CEO of Apple Worth?

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Mike Markkula Net Worth 2024: How Much is the Former CEO of Apple Worth?

Who is Mike Markkula?

Mike Markkula, born Armas Clifford “Mike” Markkula Jr. on February 11, 1942, in Los Angeles, California, is an American entrepreneur renowned for his pivotal role in the early days of Apple Inc. After graduating from the University of Southern California with degrees in electrical engineering, Markkula amassed considerable wealth through stock options while working at Fairchild Semiconductor and Intel.

Mike Markkula Career

Markkula’s career trajectory took a significant turn in 1977 when he was introduced to Steve Jobs by Venture Capitalist Don Valentine. Recognizing the immense potential of the Apple II computer, Markkula became the company’s first major angel investor, providing $250,000 in funding. He subsequently served as Apple’s CEO from 1981 to 1983, overseeing critical phases in the company’s growth and development.

Mike Markkula’s Net Worth

As of 2024, according to Celebrity Net Worth, Mike Markkula boasts an estimated net worth of $1.2 billion. His wealth stems from astute investments, particularly in Apple Inc., where he played a foundational role as an early investor and executive.

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Mike Markkula Age

Born on February 11, 1942, Mike Markkula is currently [age] years old.

Mike Markkula Family: Wife and Children

Markkula is married to Linda, and together they have made significant real estate investments, including properties in Carmel Valley, Woodside, and Hawaii. They have engaged in philanthropy, with notable donations to Santa Clara University’s Markkula Center for Applied Ethics.

Mike Markkula Height and Weight

Unfortunately, information regarding Mike Markkula’s height and weight is not readily available.

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Sundar Pichai Net Worth 2024: How Much is the CEO of Google Worth?

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Sundar Pichai Net Worth 2024: How Much is the CEO of Google Worth?

Who is Sundar Pichai?

Sundar Pichai, born on June 10, 1972, in Madurai, India, is a prominent figure in the tech industry, renowned as the CEO of Alphabet Inc. and its subsidiary Google LLC. With an educational background in materials science and engineering, Sundar’s journey from humble beginnings in Chennai to the helm of one of the world’s leading multinational companies is an inspiration to many.

Sundar Pichai Career

Sundar’s career trajectory is marked by notable achievements and leadership roles. Beginning as a materials engineer, he gained experience in product management at Applied Materials and management consulting at McKinsey & Company. In 2004, Sundar joined Google, where his strategic insights and innovative contributions led to significant advancements, including the development of Google Chrome, Android, and Google Drive. His ascent within the company culminated in his appointment as CEO in 2015, overseeing Google’s transition into Alphabet Inc.

Sundar Pichai’s Net Worth

As of 2024, Sundar Pichai’s net worth is estimated to exceed $1.66 Billion, primarily attributed to his role as CEO of Alphabet Inc. and his ownership of approximately 520,668 shares of Alphabet Inc. stock. His remarkable leadership and strategic vision have propelled Google’s growth and innovation, contributing to his substantial financial success.

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Sundar Pichai Age

As of 2023, Sundar Pichai is 50 years old, having been born on June 10, 1972.

Sundar Pichai Family: Wife and Children

Sundar Pichai is married to Anjali Pichai, whom he met during his college years at the Indian Institute of Technology (IIT), Kharagpur. They share a deep bond, enduring a period of long distance before marrying and relocating to the United States. Together, they have two children, Kavya and Kiran, and prioritize maintaining a balanced family life despite Sundar’s demanding career.

Sundar Pichai Height and Weight

Sundar Pichai stands at a height of 5 feet 8 inches and weighs approximately 68 kilograms.

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