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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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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
