On Wednesday, the GBP/USD currency pair bounced off the current 3-week low of about 1.3003 to trade at about 1.3047. The currency pair trades within a descending channel formation in the 60-minute chart. The pair continues to trade a few levels below the 100-hour moving average line despite the late...

InnovAge Holding Corp (NASDAQ:INNV), an industry leader in providing comprehensive healthcare programs to frail seniors, predominantly dual-eligible seniors through the Program of All-inclusive Care for the Elderly (PACE), stock fell 1.29% (As on September 11, 11:34:05 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 24. For fiscal 2024, the company reported total revenue of $763.9 million, increased approximately 11.0% compared to $688.1 million in 2023. Loss Before Income Taxes of $21.8 million, improved by 57.0% compared to a Loss Before Income Taxes of $50.8 million in 2023. Loss Before Income Taxes as a percent of revenue of 2.9% improved 4.5 percentage points compared to Loss Before Income Tax as a percent of revenue of 7.4% in 2023. The company has reported net loss of $23.2 million, compared to a net loss of $43.6 million in 2023. Net loss margin of 3.0%, an improvement of 3.3% percentage points compared to a net loss margin of 6.3% in 2023.

Mama’s Creations Inc (NASDAQ:MAMA) stock fell 4.80% (As on September 11, 11:33:13 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the second quarter of FY 24. Commodity prices increased as of late to historic highs, particularly in chicken. The company have accelerated CapEx investments to improve the value chain, which are now allowing the company to avoid third-party upcharges and reduce labor costs. Recent CapEx investments to improve chicken processing capabilities and related disruptions from construction efforts impacted margins during the quarter, but are expected to more than double the chicken capacity. With construction having been largely completed in September, the company now expects margins and chicken throughput to improve materially.

Cantaloupe Inc (NASDAQ:CTLP), a global leading provider of end-to-end technology solutions for self-service commerce, stock fell 5.95% (As on September 11, 11:32:50 AM UTC-4, Source: Google Finance) after the company posted lower than expected results for the fourth quarter of FY 24. Active Customers totaled 31,466 at the end of the fourth quarter of 2024 compared to 28,584 at the end of the fourth quarter of 2023, an increase of 10.1%. Active Devices totaled 1.22 million at the end of the fourth quarter of 2024 compared to 1.17 million at the end of the fourth quarter of 2023, an increase of 4.7%. Net income applicable to common shares of $2.2 million, compared to net income applicable to common shares of $2.8 million, in the prior year quarter. Adjusted EBITDA of $7.5 million compared to $9.2 million in fourth quarter of fiscal year 2023, a decrease of 19.0%.

GameStop Corp (NYSE:GME) stock plunges 14.88% (As on September 11, 11:32:26 AM UTC-4, Source: Google Finance) after the company said it would issue more shares despite posting a slide in second-quarter revenue. The company, which has become known as a focal point of the “meme-stock” craze at the beginning of the decade, said that it would use the proceeds from issuing up to 20 million new shares to fund “general corporate purposes,” including potential “acquisitions and investments in a manner consistent with the investment policy. The company is struggling with declining sales in its primary business of selling new and used video game discs due to a shift to digital downloads, game streaming, and e-commerce shopping. The company is also identifying stores for closure and expects to shut down more outlets than it did in the past few years. The company has warned of intense competition in the gaming console market earlier this year. Analysts at Wedbush said on Friday GameStop continues to face a near insurmountable barrier to its planned return to growth as streaming services proliferate, while the company shows a total lack of any strategy to enter new categories with growth potential.

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY) stock fell 1.11% (As on September 11, 11:31:54 AM UTC-4, Source: Google Finance) after the company reported better-than-expected second quarter earnings. Comparable store sales decreased 6.3% compared to the same period last year. However, the company expanded its adjusted EBITDA margin to 27.2% from 25.9% a year ago. Adjusted Net income totaled $45.7 million, compared with Adjusted Net income of $40.9 million in the second quarter of 2023. Adjusted EBITDA of $151.6 million increased 8.1%, or $11.3 million, from the second quarter of 2023. The Company opened two new Dave & Buster’s stores in Port St. Lucie, FL and Johnson City, NY in the second quarter. Subsequent to the end of the quarter, the Company opened one new Dave & Buster’s store in Barboursville, WV and one new Main Event store in Grand Rapids, MI. The Company remodeled nine Dave & Buster’s stores in the second quarter. The Company closed on its previously announced sale leaseback transaction for the real estate of two Dave & Buster’s stores with an institutional real estate investor and generated $45.0 million in proceeds. The Company generated $101.8 million in operating cash flow during the second quarter, ending the quarter with $13.1 million in cash and $481.0 million of availability under its $500.0 million revolving credit facility.

Academy Sports and Outdoors Inc (NASDAQ:ASO) stock fell 1.65% (As on September 11, 11:30:35 AM UTC-4, Source: Google Finance) after the company misses the topline expectations for the second quarter of FY 24 and has also cut its full-year guidance. The comparable store sales fell 6.9 percent year-over-year for the three-month period, which came on top of a 7.5 percent decline the 2023 comparative period. Net income fell 9.2 percent year-over-year to $142.6 million, or $1.95 per diluted share, a 3.0 percent decline year-over-year. For the remainder of the year, the company will focus on increasing traffic and conversion for the stores and website, by leveraging the improved targeted marketing capabilities, and expanding the new loyalty program. Academy opened one new store during the second quarter. The Company has opened three stores through the first two fiscal quarters and plans to open a total of 15 to 17 stores in 2024. Academy continues to make progress against the strategic initiatives demonstrated by the opening of nine new stores this upcoming quarter, new omni-channel enhancements, such as Door Dash, and leveraging customer excitement around the launch of the new loyalty program.

Crude oil futures looked to rebound after a slightly smaller-than-expected domestic supply build. Oil prices have been hammered over the last week, falling 3% and adding to their year-to-date decline. The energy commodity has struggled to carve out momentum on a blend of demand growth fears and expanded supply conditions.

Binance.US, a major U.S.-regulated cryptocurrency exchange, has announced an expansion of its custody services through a new integration with Fireblocks. Fireblocks is a platform providing secure infrastructure for moving, holding, and issuing digital assets. This update was shared on Binance.US’ official X (formerly Twitter) account. Fireblocks Joins Binance.US to...

WTI crude oil continues to trend lower as it formed fresh lows upon testing the short-term falling trend line resistance on its hourly chart. Price looks ready for another pullback at the moment. The Fibonacci retracement tool shows levels where sellers could be waiting to join in. The 38.2% Fib...

EUR/JPY extended the bearish movement smoothly toward the 154.00 – 155.00 area target. There is no change to the bearish direction and traders who already have short positions since the test of Fibonacci Retracement levels will continue to hold the positions. When the pair started another bullish correction, traders could use it as a chance to add more short positions.

There is not much development in gold prices as it consolidates above the green box area. The price might continue the sideways movement for now until the Fed FOMC meeting next week. In the long term, we expect gold prices to continue its climb to print new record highs. Traders will stay cautious on the interest-rate announcement as it might create high volatility movement in gold prices. If the price corrected lower then traders could use it as a chance to add more long positions.

Crude oil prices crashed on Tuesday on concerns of waning demand from China and the global economy. Oil is now trading at its lowest level since early 2023, but year-end pricing forecasts are mixed, though hedge funds are the least bullish on record. Could crude prices eye $60 before 2024 is finished?

USDX (USD Index) The index made a strong bullish close with strong momentum yesterday. However, there is no bullish continuation in today’s trading session. The index might continue trading near the 102.00 level nearing the Fed FOMC meeting next week. If the index closed above the resistance level after the FOMC meeting then there is an upward continuation chance toward the daily SMA 200. In the long term, we still think the index will resume the bearish trend and target a level below 100.00.

Exlservice Holdings Inc (NASDAQ:EXLS) stock rose 0.36% (As on September 10, 11:30:30 AM UTC-4, Source: Google Finance) after the company received an upgrade in its rating from Jefferies, moving from Hold to Buy. Accompanying the rating change, the price target for Exlservice was raised to $42.00, up from the previous target of $35.00.

Celestica Inc (NYSE:CLS) stock rose 1.06% (As on September 10, 11:29:58 AM UTC-4, Source: Google Finance) after Stifel upgraded the company stock from Hold to Buy, maintaining a price target of $58.00. The decision comes after Celestica’s shares experienced a significant drop recently. The downgrade in Celestica’s stock value is believed to be due to market concerns over a potential slowdown in AI investments from major hyperscale clients. These concerns were sparked by earnings reports from key suppliers, including Nvidia and Broadcom, which suggested a cautious outlook in the sector. Despite the recent decline in stock value, Stifel remains optimistic about Celestica’s financial prospects. The firm’s analysts hold the view that the company’s 2025 earnings per share (EPS) estimate of $4.00 is still within reach. This projection already accounts for an anticipated decrease in server sales resulting from a technological shift by a major customer, speculated to be Google.

Matrix Service Co (NASDAQ:MTRX), a leading North American industrial engineering, construction, and maintenance contractor, stock surges 17.89% (As on September 10, 11:29:36 AM UTC-4, Source: Google Finance) after the company reported better-than-expected fourth quarter earnings and provided upbeat revenue guidance for fiscal 2025. Gross margin was $12.4 million, or 6.6%, in the fourth quarter of fiscal 2024 compared to $14.7 million, or 7.1% for fourth quarter fiscal 2023. Strong project execution in the fiscal fourth quarter was partly offset by lower revenue volumes due to slower than expected project start-ups. Adjusted net loss for the fourth quarter fiscal 2024 was $3.9 million compared to $3.0 million for the fourth quarter fiscal 2023. The Company’s backlog remained at near record levels in the fourth quarter of fiscal 2024, ending at $1.4 billion as of June 30, 2024. Project awards totaled $175.9 million in the fourth quarter of fiscal 2024, resulting in a full year book-to-bill ratio of 1.5x.

Mission Produce Inc (NASDAQ:AVO) stock rallies 20.86% (As on September 10, 11:28:51 AM UTC-4, Source: Google Finance) after the company reported fiscal third quarter earnings that handily beat analyst expectations. Mission Produce’s strong performance was driven by higher avocado pricing, which offset lower volumes. Average per-unit avocado sales prices increased 36% YoY, more than compensating for a 10% decrease in avocado volume sold. These price and volume dynamics resulted from lower avocado supply available during the quarter due to a combination of weather impacts on fruit development and production in Peru and fruit harvesting disruptions in Mexico. Despite overall volume reductions, domestic sales volumes were relatively flat during the quarter, demonstrating the resiliency of demand for avocados amid higher price points in the U.S. market. Adjusted net income of $16.7 million compared to $10.3 million, for the same period last year. Adjusted EBITDA increased 49% to $31.5 million, compared to $21.2 million in the same period last year. Cash flow from operations for the nine months ended July 31, 2024 was $55.4 million, compared to cash used of $(7.3) million in the prior year period.

Oracle Corp (NYSE:ORCL) stock rallies 11.96% (As on September 10, 11:28:32 AM UTC-4, Source: Google Finance) after the company reported fiscal first-quarter results that topped Wall Street estimates. Net income rose to $2.93 billion, or $1.03 per share, from $2.42 billion, or 86 cents per share, in the same quarter a year ago. The company said its cloud services and license support business generated $10.52 billion in revenue. That was up 10% from a year earlier and higher than the StreetAccount consensus of $10.47 billion. Oracle’s cloud and on-premises license segment had $870 million in revenue, up 7%, and more than StreetAccount’s $757.6 billion consensus. Revenue from cloud infrastructure came to $2.2 billion, up 45%. That is an acceleration from the prior quarter, during which revenue went up 42%. Oracle is currently designing a data center that will use over a gigawatt of power, and it will rely on three modular nuclear reactors, Larry Ellison, Oracle’s co-founder, chairman and chief technology officer. Over time, Oracle might operate 2,000 data centers, up from 162 today. But not all of them require massive amounts of power. During the quarter, Oracle announced the opening of a second cloud region in Saudi Arabia and said its database software will be available through Google’s public cloud.

Calavo Growers, Inc. (NASDAQ:CVGW), a global leader in the processing and distribution of avocados, tomatoes, papayas, and guacamole, stock surges 13.98% (As on September 10, 11:27:48 AM UTC-4, Source: Google Finance) after the company posted higher than expected results for the third quarter of FY 24. Grown segment sales increased 13.3%, and Prepared segment sales decreased 2.4%. The average selling price of avocados in the Grown segment increased by 25% compared to the prior year. Gross profit for the third quarter was $20.1 million, or 11.2% of net sales, compared to $22.0 million and 13.7%, respectively, for the same period last year. Adjusted net income was $10.2 million compared to adjusted net income of $7.7 million, last year. Adjusted EBITDA was $13.5 million compared to $13.0 million for the same period last year. The Company ended the quarter with $39.0 million of net debt, which included $33.5 million of borrowings under its credit facility and $6.6 million of other long-term obligations and finance leases, less cash and cash equivalents of $1.1 million. The Company reduced its net debt by $9.5 million and had approximately $57.3 million of liquidity as of July 31, 2024. Subsequent to quarter end, the company retired the remaining debt balance with proceeds from the sale of the Fresh Cut business.