VENTURE CAPITAL POST

Morgan Stanley reported that profits performed better than expected across the board in the second quarter of 2024 despite investors shifting to higher-yielding assets.

South African company Pepkor Holdings reported a 3.1% fall in its half-year earnings report due to ongoing supply chain disruptions at local ports that impacted its merchandise imports, but also reported a 9.5% revenue rise compared to the similar time period last year.

Apple Inc. unveiled an unprecedented $110 billion buyback initiative, marking its largest buyback program to date.

By the third quarter of 2024, the streaming services in the U.S. will reach $17.3 billion, mostly driven by ad tiers and strategic collaborations.

Global Revenue for IoT Devices in the Residential and Commercial Sectors is Expected to Total $732 Billion from 2016 to 2026, According to Navigant Research.

Starbucks sees the potential of its fast-growing China business to one day overtake the U.S. market. The company plans to open more stores in the next five years, half of which will be in the U.S. and in China as the brand remains attractive for the retailers.

Swiss pharmaceutical giant Roche has experienced an improved revenue this year. However, it also saw a decline in market cap as its invetors remain cautious on broader industry factors.

Saudi Arabia’s King Salman issued a directive to transfer $27 billion to the Public Investments Fund. The allocation to the sovereign wealth fund aims to diversify investments and lessen the country’s dependence on oil revenues.

Consumers took advantage of Black Friday's bargains, with online shoppers outpacing the number of people who actually lined up to avail of the incredible deals. This trend drove online sales to surpass the $3 billion mark, breaking records of sales from previous years.

China's industrial sector gets a boost in profit as it gained a 9.8% year on year growth in October. The upsurge was a reselt of the improvement in the country's raw materials sector.

As of midday Wednesday, after the victory of Donald Trump in the US Presidential Elections, the shares of companies under the Utilities sector has underperformed other sectors.

FedEx said in a statement that “a new entity competing” with the company will have to spend tens of billions of dollars to replicate its current extensive network. The statement, referring to Amazon’s new plan to get into the logistic business, also assured that FedEx’s relationship with Amazon remain strong.

Facebook’s WhatsApp announced that they will stop supporting older mobile platforms, including BlackBerry, Nokia, as well as older Android and Windows operating systems. The decision would allow the app to further improve its features beyond older smartphones’ capabilities.

The offer is part of the company's strategy to gain income amid the increasing use of ad-blocking softwares. Websites had been losing significant advertisement revenues and develop other alternatives to bring ad-free experience while keeping the business going. The offer will start next week for $3.99 per month or $1 weekly.

Schlumberger Ltd, on Thursday, reported a net loss of $1 billion for the fourth quarter and also said that it has axed 10,000 additional employees, as an effort to adjust its resource and cost base.