Broadcom (AVGO)
Broadcom shares were trading about 2.1% lower in premarket trading on Friday, erasing about half of the gains made in Thursday's trading after a tumultuous week.
The superconductor supplier posted adjusted earnings per share of $10.99 (8.57 pounds) in the first quarter, beating Wall Street expectations of $10.42.
Net revenue was $12 billion, exceeding expectations of $11.8 billion. However, sales for the semiconductor solutions division were lower than analysts expected.
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At a financial results conference after the report, the CEO stated that he expected sales to increase by more than 35% year-on-year, compared to previous guidance of 30% annual growth. Ta.
Costco (COST)
Costco is profitable again on the back of gold bars and warehouse-friendly commodity prices.
Wholesale Club's adjusted earnings per share (EPS) was $3.92, well above expectations of $3.62. Revenue rose 5.7% from a year earlier to $58.4 billion, according to Bloomberg data, but was slightly below expectations of $59 billion.
Excluding gasoline costs and foreign exchange, same-store sales increased by 5.8%.
In the United States, same-store sales growth exceeded expectations at 4.8%. Canada saw same-store sales beat his expectations with a 9% increase, while international stores posted a better-than-expected 8.2% increase.
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Costco Chief Financial Officer Richard Galanti told analysts on a conference call late Thursday that digital sales were up 18% compared to a year ago, supported by demand for gold bars, silver and electronics. He said it had increased by more than %.
Membership fees, a major source of revenue, totaled $1.1 billion, up from $1 billion a year earlier.
Frasers-owned luxury clothing retailer Matches Fashion is the latest chain to face government in the UK, which could put around 700 jobs at risk.
The move comes just months after Frasers acquired the company from private equity firm Apax for £52m in December. Teneo was reportedly brought in to lead the process.
Frasers said in a statement to the stock market: “Since Frasers acquired Match, the business has consistently failed to meet its business plan targets and continues to incur significant losses despite support from the group. “There is,” he said.
“Matches management has sought to find ways to stabilize the business, but restructuring the business will require significant changes and the ongoing funding requirements will be far greater than the group had in mind. It has become clear that it is possible to survive. ”
By mid-morning trading in London, the stock had fallen about 1.2%.
Shares in Mondi (MNDI.L) and DS Smith were going in different directions on Friday morning, with DS leading the FTSE (^FTSE) up more than 6.8% on news of a merger between FTSE 100-listed companies. and Mondi fell 1.9%. pair.
Packaging company Mondi is to buy smaller rival DS Smiths in an all-share deal worth £5.1bn. The combination will create a company valued at £10bn.
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