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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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Jeff Bezos Lookalike Cagdas Halicilar Enjoys Lavish Lifestyle By Impersonating The Billionaire 

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Jeff Bezos Lookalike Cagdas Halicilar Enjoys Lavish Lifestyle By Impersonating The Billionaire 

A 46-year-old German man, Cagdas Halicilar, is currently the talk of the town as he has emerged on the internet as Jeff Bezos’ lookalike. 

Thus, Cagdas Halicilar has transformed his profession into a professional Jeff Bezos doppleganger from an electrician. 

The 46-year-old reveals that now he lives an opulent lifestyle as an entrepreneur. 

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Cagdas Halicilar was often told by his family and friends that his looks were similar to those of a billionaire. However, only when he saw Jeff Bezos’ picture, did he understand what people around him meant. 

The New York Post reported that Halicilar dreamed of becoming a successful business executive. With him founding CB Transporte, a transport company, he lived his dream. 

After accepting his resemblance to Jeff Bezos, Cagdas Halicilar enrolled himself at a doppelgänger agency. 

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Cagdas Halicilar Gained Popularity by Being Jeff Bezos’ Lookalike

Most of the time, he dressed up in casual attire which made him look more like a billionaire, as Jeff Bezos also dressed up casually. 

Halicilar added, “It doesn’t matter whether I’m wearing a suit or wearing jeans and a polo shirt.”

He added how it requires a bit of effort to maintain his appearance like a billionaire. He shaves his head and applies Nivea cream regularly. The German doppleganger added that he has been doing the same for more than ten years now. 

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The 46-year-old has gained a lot of popularity and recognition over the years for his work as Jeff Bezos’s doppelgänger. His spouse complained that people often stopped him and asked for selfies on the street. 

In the “King of Stonks,” the German Netflix miniseries, he also had a guest spot. 

When in Seattle once, Cagdas Halicilar strolled through the Amazon campus. Surprisingly, Amazon employees thought that he was Jeff Bezos, reported TimesNow.

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He said,

“All the Amazon employees came to me, wanted selfies and thanked me for being proud to work at Amazon.” 

Furthermore, he added,

“My wish is to drink a whiskey with Jeff Bezos on his yacht. He is just as much of a yacht fanatic as I am.”

Also Read: Twitch Streamer Maya Higa Opens Up About Horrific Stalker Incident During Recent Livestream

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Lawsuit Claims Cinemark Shortchanged Customers on Sold Beverages

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Lawsuit Claims Cinemark Shortchanged Customers on Sold Beverages

A North Texas movie-goer has filed a lawsuit over Plano-based Cinemark drink sizes.

The lawsuit alleges that the movie theater chain fleeced its customers by shorting beverages sold in the chain’s canteens.

The chain loudly advertised that the 24-ounce container is a better deal, claiming consumers will get more for less price, while the reality is that Cinemark swindles customers by shortchanging them on sales for the 24-ounce beverage cup.

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Cinemark Accused of Shortchanging Customers on Beverage Sales

The proposed class action lawsuit has been filed in a Texas federal court and it indicts the movie.

The lawsuit further details how consumers got only 22 ounces of liquid, which is the maximum that can be filled in Cinemark’s 24-ounce cups.

It is alleged that the deception was part of a deliberate packaging and pricing practice.

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Also Read: California mother files lawsuit against Tesla after her 2-year-old child starts Model X and runs over her

Theaters pay almost 50% of the revenue generated by ticket sales to the studios but keep all the profits generated by the sales of food and beverage.

Increased competition has pushed the chain to offer concessions and bonuses, and this helped Cinemark in 2023 to record its highest concession sales of all time.

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However, the lawsuit alleges that Cinemark dupes its customers by shortchanging them on sales for the 24-ounce beverage cup instead of the 20-ounce beverage cup.

The reality is that consumers pay less for a 20-ounce cup, which is also a better deal than buying a 24-ounce beverage cup.

The complaint stated,

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“The size of the container in relation to the actual volume of the product contained in it was intended to mislead the consumer into believing the consumer was getting more of the product than what was in the container by a twelfth.”

The lawsuit was brought by Texas resident Shane Waldrop, who purchased a 24-ounce beverage cup in February which cost him $8.80 before tax.

However, on closer look, he realized that the cup was not large enough to hold 24 ounces. This was confirmed later when Shane took the cup home and found that it could contain only 22 ounces of liquid.

Thus, the consumer was duped 2 ounces for every cup he bought.

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The lawsuit charged the movie theater chain with neglectful falsification, deception, unjust profiteering, and a violation of Texas’ Deceptive Trade Practices Act and asked for a court order to halt such practices.

Waldrop is seeking compensatory damages and also demanded a jury trial over the claims.

Also Read: Johnson Controls subsidiary Tyco Fire Products to pay $750 mn to settle ‘forever chemicals’ lawsuit

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Mukesh Ambani’s 67th Birthday: How He Built The Reliance Industries

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Mukesh Ambani Birthday

It is Mukesh Ambani’s 67th birthday, and today we will try to get to know about the incredible journey of this man who, with sheer determination and grit, has created one of the biggest conglomerates in the world.

Reliance Industries, which passed into his hands in the 2000s, grew at a pace which was phenomenal.

Born on April 19 to Dhirubhai Ambani and Kokilaben in Aden, Yemen, where his father was based before moving back to India.

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Reliance Industries was already a big company, but its growth after Mukesh Ambani took on the reins was phenomenal.

With astute business acumen and strategic vision, Ambani has propelled Reliance Industries to dizzying heights, making it one of India’s most powerful empires.

It was under his stewardship that Reliance Industries diversified from being a petroleum company to enter other fields like Telecommunication and the Aerospace industry.

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The 5G revolution, which has swept the country, is largely due to the efforts of Mukesh Ambani and his company Jio. Jio offered high-speed and cheap internet services to the farthest corners of the company, and this helped it to capture a major chunk of the telecommunication sector. Today the nation’s population is using internet data in an unprecedented way.

Another diversification move was the entry of Reliance Industries into retail, energy, petrochemicals, and media. Reliance also acquired and invested in Future Group’s retail assets, as well as the creation of JioMart, an e-commerce venture.

Reliance also entered into a partnership with the Indian media company Viacom18 and the American entertainment giant Disney to create a joint venture, valued at $8.5 billion. The venture also gave exclusive rights to Reliance to distribute Disney productions in India.

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It is his futuristic vision which catalyzed Reliance Industries to invest heavily in the renewable energy sector. The company has built solar and wind energy farms and is contributing in a big way to help India achieve its renewable energy targets while lowering carbon emissions and environmental impact.

Again, it is his futuristic views which made him create the Jio Institute, which is a truly world-class educational institution dedicated to cutting-edge research and technical improvement. The stated motto of the institute is to help develop future leaders and innovators who will help the country grow to become a developed nation in the coming decades.

The phenomenal growth and success of Reliance Industry can be attributed to Mukesh’s keen sense to anticipate market trends, evolve as per changing consumer preferences, seize emerging possibilities, and produce products and services of the highest quality.

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As of April 19, 2024, according to Forbes, Mukesh Ambani’s net worth is to the tune of $115.8 billion, and he is ranked one of the top 10 wealthiest people in the world on Forbes magazine’s annual list of billionaires in 2021, 2022, and 2023.

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