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Market Watch: Stock Futures Edge Lower Ahead of Inflation Report

Stock futures edged lower on Wednesday as investors turned their attention to an impending inflation report slated for later this week. Futures linked to the...

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SoftBank stocks surge over 8% on strong Arm performance

SoftBank, a Japanese investment holding company, experienced a notable surge of over 8% in its shares during morning trading. This spike followed the release of impressive financial results by chipmaker Arm. Arm witnessed a remarkable increase in its shares, soaring by as much as 41%. This surge came in the wake of the chip designer surpassing analysts' expectations with its reported revenue and earnings. Additionally, Arm provided a bullish outlook for the upcoming quarter. SoftBank, which had taken Arm public in September, still retains approximately 930 million shares, constituting roughly 90% of the chip designer’s outstanding stock. Following the earnings report, SoftBank's stake in Arm experienced a significant boost, rising by nearly $16 billion. This propelled its value from close...

Lowe’s Exceeds Earnings Expectations Despite Falling Sales: Anticipates Revenue Decline

Lowe’s surpassed both quarterly earnings and revenue estimates set by Wall Street on Tuesday, despite observing a decline in customers engaging in home projects. The home improvement giant faced reduced expectations for its fourth-quarter performance, having revised its full-year forecast downwards in November. CEO Marvin Ellison attributed this adjustment to a "greater-than-expected pullback" in purchases of higher-priced items and discretionary home projects. Acknowledging prevailing economic uncertainty, Lowe’s included it in its forecast for the ongoing fiscal year. The company anticipates total sales ranging between $84 billion and $85 billion, marking a decrease from $86.38 billion in fiscal 2023. Projections indicate a 2% to 3% decline in comparable sales compared to the previous year, with earnings per...