DraftKings Sees First Positive Adjusted EBITDA In Q2 2023
DraftKings Inc. (NASDAQ: DKNG) reported its financial performance in the second quarter of 2023, outperforming market expectations and showing significant growth compared to the previous year. The firm posted $874.93 million in revenue for the quarter ending in June 2023, exceeding the consensus estimate by 14.78%. Comparatively, the year-ago revenues stood at $466.19 million and […]
Alberta to Halt Major Renewable Projects Over Rural and Environmental Concerns
Alberta’s UCP government has announced a six-month moratorium on approving wind and solar power projects larger than one megawatt, citing concerns over agricultural land changes, effects on the scenery, system reliability, and reclamation security. The next six months will see the Alberta Utilities Commission undertake an inquiry to review various aspects related to wind and […]
Telus Sheds 6,000 Positions Amid Rising Competition and Regulation
Telecommunications behemoth Telus Corp (TSX: T) has announced its intention to cut 6,000 jobs as part of an effort to free up cash flow and maintain its competitive edge. The job cuts— which consist of early retirement and voluntary departure packages, will be split between Telus’ main business, where 4,000 positions will be eliminated, and […]
Early Study Shows New Cancer-Killing Pill Can Target and Eliminate All Types of Solid Tumors
Scientists have unveiled a groundbreaking cancer-fighting pill that has the potential to revolutionize cancer treatment. The molecule, named AOH1996 after Anna Olivia Healy who tragically lost her life to childhood cancer, has demonstrated an unprecedented capability: the ability to target and eliminate solid cancer tumors while sparing healthy cells. The drug zeroes in on a […]
US Marines To Be Shipped On Commercial Ships To Stop Iranians From Seizing Tankers
The U.S. military is making preparations to deploy armed Marines and sailors on commercial ships operated by private companies in response to a series of vessel seizures by Iranian forces in the Middle East, officials revealed on Thursday. This move represents a significant escalation that could potentially lead to direct confrontation between Washington and Tehran. […]
Coinbase Q2 2023 Financials: Revenue Decline, Falling Volume, Wider Loss
Coinbase Global (NASDAQ: COIN) released its Q2 2023 financials, headlined by a quarterly total revenue of $707.9 million. This is a drop from Q1 2023’s $772.5 million and Q2 2022’s $808.3 million, but but still surpassing the consensus of analysts surveyed by Bloomberg, who had predicted $631.2 million. What’s noteworthy is that Coinbase’s revenue mix […]
Icahn Enterprises Halves Dividend While Blaming Hindenburg Research
The topic of short selling, and Hindenburg Research in particular, appears to be a sore spot for Carl Icahn, Chairman of Icahn Enterprises (NASDAQ: IEP). After the company posted a net loss of $269 million for the second quarter, Icahn blamed much of the decline on Hindenburg itself. “I believe the second quarter partially reflected […]
Fisker Cuts Annual Production Guidance Again After Q2 Results
Fisker (NYSE: FSR) has reported its first quarter with automotive sales revenue. The milestone follows the electric vehicle startup managing to produce 1,022 vehicles during the second quarter. The company has indicated that the first vehicles delivered have achieved gross margins of 7.5%, and with early-stage investor vehicle deliveries excluded, margins were as high as […]
US Unemployment Rate Dips to 3.5% in July
The US labour market remained robust in July, adding another 187,000 jobs and sending the unemployment rate from 3.6% to 3.5%. Nonfarm payrolls rose 187,000 last month, just shy of expectations calling for a print of 200,000. The BLS also downwardly revised June’s report from to 209k to 185k, and May’s from 306k to 281k, […]
Canada’s Labour Market Remained Unchanged in July as Population Levels Increase
The Canadian labour market remained essentially unchanged in July, as the unemployment rate inched higher by another 0.1 percentage points to 5.5%— the third straight monthly increase. According to Statistics Canada, a total of 6,000 jobs were shed last month, primarily across the construction, public administration, and information, culture and recreation sectors. On the other […]