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Bank of America projects investment banking fees will decline over 10% in the third quarter from the prior year, with trading revenue remaining flat, prompting a 5% decline in the bank’s shares.
BYD shares declined nearly 5% in Hong Kong after releasing interim results showing first-half revenue fell 7.1% while net profit dropped 20.5% amid intense competition.
Broadcom posted strong quarterly results and forecast robust growth driven by artificial intelligence chip demand, with CEO projecting AI revenue to reach $115 billion in fiscal 2027.
Zscaler exceeded fourth-quarter earnings expectations and issued upbeat guidance, but its stock declined as investors weighed the results against competitive pressures in the cybersecurity sector.
Lululemon shares dropped 20% in premarket trading Friday after reporting a 4% revenue decline and cutting full-year profit guidance, citing weak product launches and social media pressure.
Nigeria’s largest refinery opened to retail investors Monday, offering shares at 5,250 naira each as part of a $1.6 billion IPO across Africa, though the founder retains 87% ownership.
