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GameStop reported mixed second-quarter results, with revenue dropping to $798 million from $1.16 billion a year ago. Despite the revenue decline, the company’s net income rose to 4 cents per share from a loss of 1 cent per share. GameStop also announced plans to sell up to 20 million shares of its class A common stock through Jefferies. Meanwhile, Petco Health and Wellness saw its shares rise 4% after posting second-quarter earnings in line with expectations, although revenue came in slightly below analyst estimates. For the third quarter, Petco expects to post an adjusted loss of 3 to 4 cents per share, compared to analysts’ estimated loss of 4 cents per share. Dave & Buster’s Entertainment’s stock climbed 8% after reporting earnings per share of 99 cents, surpassing analysts’ expectations of 84 cents. However, the company’s revenue of $557 million fell short of the forecasted $561 million. On the other hand, Morgan Stanley’s stock fell 1% after a downgrade to neutral from buy at Goldman Sachs, citing near-term challenges for the bank.

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