The CE 100 Index rose 0.7%, supported by continued earnings reporting that boosted performance in the Shop and Live pillars.
Koninklijke Philips NV (Philips) stock rose 27.6%, while the live sector of the CE 100 index rose 4.2%.
The company said comparable sales rose 2% year-on-year to 4.1 billion euros, led by the Diagnostics & Therapeutics and Personal Health segments. Comparable sales in Diagnostics and Treatments increased by 3%. Late last month, it was announced that Philips had settled a personal injury and medical surveillance claim in the United States for $1.1 billion.
iRobot followed suit, with the live category also increasing by 21.1%. As reported this week, Republican Rep. James Comer, the chairman of the House Oversight Committee, has filed a lawsuit against the Federal Trade Commission (FTC) regarding Amazon.com's failed attempt to acquire iRobot Corp. in a $1.4 billion deal. ) announced an investigation into its involvement with the European Commission. .
Comer expressed concern that the FTC's actions could undermine the United States' position in the global personal robot market while benefiting foreign competitors, particularly those based in China.
Live Pillar Surge on Pinterest is profitable
Pinterest stock has gained 19%. The company led to a 7.7% rise in Shops, a pillar of the CE 100 index. Revenue for the same period increased 23% year over year to his $740 million. Global monthly active users increased 12% year over year to 518 million. In the most recent quarter, average revenue per user was $1.46, up 10% year over year. The company expects second-quarter sales growth to be in the range of 18% to 20% year over year.
However, Fastly shares fell nearly 34%, while the Enabler sector fell 1.1%.
The company's most recent earnings showed total revenue of $133.5 million, a 14% year-over-year growth. Network services revenue was $106 million, an increase of 12% year-on-year. Guidance for the quarter was lower than expected as the guidance range of $130 million to $134 million was below the consensus estimate of more than $140 million.
Coursera stock fell about 20%, with the Work sector leading the way, down 1.9%.
In a PYMNTS study of revenue-related puts and takes in the EdTech sector, Coursera reported a 15% increase in total revenue compared to the previous year.
However, despite this growth, the stock fell after second-quarter earnings forecasts were lower than expected.
Earnings were strong in the pay-and-be-paid division, but the pillar decreased by 1.9%.
As mentioned in last week's report, Mastercard announced in its latest earnings report that global gross dollar transaction volume (GDV) increased 10% year over year to $2.3 trillion. In the US, GDV increased 6% to $712 billion, with credit growth of 6%, debit growth of 12%, and debit growth of 13%. Overall, cross-border trade volumes increased by 18% worldwide.
CEO Michael Miebach said the situation remained “mixed” in terms of macroeconomic trends. Steady wage growth is supporting healthy consumer spending, and inflation is moderating. However, the US has been slow to cut interest rates. Mastercard “monitors the health of consumers' balance sheets.”
Mastercard stock has fallen 3.9% this week.
Visa stock fell 2.2%. As reported here, United Arab Emirates (UAE) financial services provider Reem Finance has partnered with Visa to expand its offering of digital payment solutions.
Block stock fell 6.7%. During the company's latest earnings release, the company's $200 million investment in Bitcoin increased by approximately 160%, reaching $573 million at the end of the quarter.
Square alone processed $50.5 billion in total payments in the quarter, an increase of 9% year over year.
Cash App Card reached 24 million monthly actives, an increase of 16% year over year. Meanwhile, Cash App Pay continued to grow throughout the quarter, with transaction volume increasing more than 40% sequentially.