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Home Blog Page 8637

Robinhood Shares Down 3 percent on Q4 Revenues Miss

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Robinhood Markets, Inc. (NASDAQ:HOOD) shares closed more than 3% lower today after the company reported its Q4 results, with revenue growing 5% quarter-over-quarter to $380 million, coming in worse than the Street estimate of $394.33 million. EPS was ($0.11), beating the Street estimate of ($0.15).
Transaction-generated income amounted to $186 million, which was a decrease of 11% compared to the previous quarter. This includes options income of $124 million, which remained unchanged, cryptocurrency income of $39 million, which decreased by 24%, and equity income of $21 million, which decreased by 32%. The number of monthly active users in the fourth quarter decreased to 11.4 million, down from 12.2 million in the previous quarter, as customers are still dealing with the unpredictable economic climate.

PGA News: Nick Taylor, Adam Hadwin lead as WM Phoenix Open called for darkness

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Canadians Nick Taylor and Adam Hadwin shot 5-under 66 to share the early lead when play was suspended due to darkness at the WM Phoenix Open on Thursday in Scottsdale, Ariz.

A frost delay Thursday morning delayed the start of the round nearly two hours, and 68 players had yet to complete their rounds when play was called for the day. Those players will finish their rounds Friday morning at TPC Scottsdale.

One shot behind Taylor and Hadwin, Xander Schauffele was in the clubhouse with a 67. He was tied at 4 under with Australian Jason Day and Jim Herman, each of whom had several holes left to play.

Taylor had an eventful start to his day, with an eagle 3 at the third hole erased by a double-bogey 6 at No. 6. But after making the turn in 1 over par, he caught fire with four straight birdies at Nos. 10-13 and added two more for a 6-under 30 coming in.

“The front I feel like is a tougher nine. You probably don’t have as many chances as the back,” Taylor said. “To kind of see some putts roll in on 10 and 11 was nice and obviously to continue that on 12, was lucky to make a nice relatively easy birdie with a nice chip on 13. I wanted to keep it going because I knew I was swinging nice and hit a bunch of greens. To make birdies on 16 and 17 to cap it off was nice.”

Hadwin started his day on the back nine and shook off his only bogey of the round with a bounce-back birdie at the par-3 12th, where he stuck his tee shot to 3 feet of the hole. He made three straight birdies at Nos. 17, 18 and 1 and finished the day with six in all.

“Canadian golf has been in a great place for a while now, (with) Corey (Conners) and Mackenzie (Hughes) kind of leading the way,” Hadwin said. “We had Adam Svensson winning this year, as well, along with Mackenzie. It’s a great group to be a part of.

“I’m really disappointed I didn’t get to 6 under because I saw Nick up there, and I wanted to hold it over him tonight.”

Taylor has won twice on tour, most recently in February 2020, while Hadwin has prevailed just once, back in 2017.

Schauffele also started on the back nine and did most of his damage over the first 10 holes. He added a 10-foot birdie at the par-4 fifth to get to five birdies and just one bogey on the card.

The popular tournament is serving as one of the PGA Tour’s news “designated events” with elevated purses and guaranteed participation from certain high-wattage stars. Among them, Spaniard Jon Rahm was 3 under through 13 when play stopped. Tony Finau, England’s Matt Fitzpatrick and South Korea’s Sungjae Im were in at 1-under 70, while Scottie Scheffler and Norway’s Viktor Hovland were 1 under with some holes to play.

Justin Thomas was 1 over through 12 holes and Northern Ireland’s Rory McIlroy shot a 2-over 73.

The purse this week is $20 million, and the winner will take home a $3.6 million share.

“It feels just like another week, to be completely honest,” Schauffele said. “We’re not really thinking — I’m assuming most of the guys aren’t really thinking about the payout when they’re playing golf, but I can’t speak for everybody.”

–Field Level Media

WTA News: WTA roundup: No. 1 seed Daria Kasatkina survives in Abu Dhabi

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Top-seeded Daria Kasatkina of Russia dropped her first set but stormed back for a 1-6, 6-0, 6-2 win over Switzerland’s Jil Teichmann to reach the quarterfinals of the Mubadala Abu Dhabi Open on Thursday in the United Arab Emirates.

Kasatkina survived Teichmann’s 3-0 edge in aces by breaking her serve seven times in 16 opportunities and winning 32 of 50 first-service points (64 percent).

Brazil’s Beatriz Haddad Maia, the sixth seed, came back from a 4-1 deficit in a third-set tiebreaker to vanquish Yulia Putintseva of Kazakhstan 6-4, 6-7 (5), 7-6 (4) in three hours and 13 minutes. She’ll meet another Kazakh opponent in the quarters, third seed Elena Rybakina, who was a 6-4, 6-2 winner over Karolina Pliskova of the Czech Republic.

No. 8 seed Liudmila Samsonova of Russia won two close sets to advance past the Czech Republic’s Barbora Krejcikova 7-5, 7-6 (6).

Upper Austria Ladies Linz

Anna-Lena Friedsam of Germany eliminated Ukrainian fourth seed Anhelina Kalinina 6-3, 7-5 to advance to the quarterfinals in Linz, Austria.

Friedsam, ranked No. 124 in the world, smashed four aces and saved five of nine break points to pull off the upset.

Croatian fifth seed Donna Vekic was a 6-3, 6-1 winner over American Madison Brengle. No. 6 seed Petra Martic of Croatia outlasted Belgium’s Alison Van Uytvanck 6-4, 6-7 (5), 7-6 (3), hitting seven aces.

Demark’s Clara Tauson and Hungary’s Dalma Galfi were also three-set winners Thursday.

–Field Level Media

CME Group Shares Up 5 percent on Q4 EPS Beat, Revenues In Line

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CME Group (NASDAQ:CME) shares gained more than 5% on Wednesday after the company reported its Q4 results, with EPS coming in at $1.92, beating the Street estimate of $1.88. The beat was due to global increases in prices, the growth of interest rates, and concerns about a recession, which led to greater utilization of the risk management tools provided by the futures exchange operator.
Revenue came in at $1.2 billion, roughly in line with the Street estimate of $1.21 billion.
The company is demonstrating pricing power via raising futures/options RPC this year, effectively a 4-5% revenue increase, along with an approximately 4% market data pricing increase.

ATP News: ATP roundup: Americans continue strong run in Dallas

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A strong run for Americans at the Dallas Open continued Thursday as three more advanced to the quarterfinals of the indoor hard-court tournament.

Top-seeded Taylor Fritz led the way, sweeping countryman Jack Sock 7-6 (5), 6-4 in a match that was competitive throughout. Service was broken only once in the match — Fritz breaking Sock in the first game of the second set. With the win, Fritz is assured of being no lower than No. 7 in the next ATP World Rankings, which will be a career high.

He will face American Marcos Giron in the quarters. The No. 7 seed beat Germany’s Oscar Otte 6-4, 6-3.

The day’s other victorious American was fifth-seeded John Isner, a 6-3, 7-6 (1) winner over Daniel Altmaier of Germany. Isner will face Ecuador’s Emilio Gomez, who beat Miomir Kecmanovic of Serbia 2-6, 7-6 (4), 6-4.

Eighth-seeded Adrian Mannarino of France also was a winner.

Cordoba Open

Diego Schwartzman, the top-seeded player in the tournament and the highest-ranked Argentinian in the world, lost 7-6 (6), 6-1 to countryman Juan Manuel Cerundolo in the second round of the clay tournament in Cordoba, Argentina.

After the 28th-ranked Schwartzman held off three set points in the first-set tiebreaker before losing, the 21-year-old Cerundolo broke his him three times in the second set. Bolivia’s Hugo Dellien beat Argentina’s Guido Pella 6-3, 6-4 and will face Cerundolo in the quarterfinals.

The rest of the draw held serve, with second-seeded Francisco Cerundolo — Juan Manuel’s older brother — beating Argentina’s Federico Delbonis to set up another all-Argentinian matchup with Federico Coria in the quarters.

Third-seeded Albert Ramos-Vinolas of Spain and Joao Sousa of Portugal also won and will meet in the quarters.

Open Sud de France

France’s Quentin Halys swept fifth-seeded Alejandro Davidovich Fokina of Spain 6-3, 6-3 to move into the quarters at the hard-court event in Montpellier, France.

On a day in which all six matches produced sweeps, American Maxime Cressy beat No. 7 seed Emil Ruusuvuori of Finland 6-4, 6-4. Cressy will play third-seeded Borna Coric of Croatia, who topped France’s Arthur Rinderknech 6-3, 7-5.

Top-seeded Holger Rune of Denmark beat Switzerland’s Marc-Andrea Huesler 7-6 (5), 6-2, while No. 2 seed Jannik Sinner of Italy beat Hungary’s Marton Fucsovics in a walkover.

France’s Gregoire Barrere and Italian Lorenzo Sonego also advanced to the quarterfinals.

–Field Level Media

CHAMP News: Stephen Ames off to fast start in Morocco


Stephen Ames carded a 6-under-par 67 to seize a three-stroke lead after the first round of the Trophy Hassan II on Thursday in Rabat, Morocco.

Ames recorded eight birdies against two bogeys at Royal Golf Dar Es Salam to find himself with at least a share of the lead after the first round for the sixth time in his Champions career. Unfortunately for the Canadian, he has yet to convert those leads into tournament victories.

“Hit a lot of fairways, hit a lot of good iron shots and made some putts obviously, that’s the key here,” Ames said. “I didn’t three-putt, which is good. I think that was a good motive for the week, I guess, is to try and not three-putt too many times.”

Ames, who is seeking his third win on the Champions Tour, answered a bogey on No. 3 to post four birdies over his next seven holes. He also had a bogey on No. 11 before finishing with three birdies over his final seven holes.

Ames’ last win came in the 2021 Principal Charity Classic.

England’s Paul Broadhurst (70) had six birdies against three bogeys to reside in a tie for second place with Scotland’s Paul Lawrie and Americans Jeff Sluman and defending champion Brett Quigley.

Broadhurst was asked what was working for him on Thursday.

“Everything really,” he said. “You know, if I missed the green, I chipped it fairly close. I mean, I played a really solid front nine, 3-under on the front was pretty good. I had a couple of chances and converted them. Made a good birdie on 9.”

Scotland’s Colin Montgomerie, who won the tournament in 1997, and Americans Glen Day and Corey Pavin were tied for sixth after carding a 71.

German Bernhard Langer (72) resides in a seven-way tie for ninth place.

The 54-hole tournament is the first Champions Tour event to be held in Northern Africa since 2020.

–Field Level Media

Affirm Holdings Shares Plunge 17 percent Following Q2 Miss

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Today, shares of Affirm Holdings, Inc. (NASDAQ:AFRM) experienced a significant drop of over 17% due to the company announcing plans to lay off 19% of its employees and the release of quarterly results that did not meet expectations.
The company reported a Q2 loss per share of ($1.10), which was worse than the predicted ($1.00), and revenue of $400 million, falling short of the estimated $416.49 million.
For Q3/2023, the company anticipates revenue to be in the range of $360-380 million, compared to the expected $418 million, with full-year revenue projections being $1.475-1.55 billion, compared to the estimated $1.64 billion.
The company is now signaling a willingness to compromise on GMV growth to protect credit quality. Profitability was impacted by delayed execution of merchant pricing increases, higher funding costs, and higher provisioning from retaining loans which resulted in RLTC coming below expectations. However, management is addressing challenges by executing a headcount reduction, increasing emphasis on interest-bearing loans, higher loan retention and benefits from pricing initiatives.

Sun acquire G Tiffany Hayes from Dream


The Connecticut Sun acquired the rights to former UConn guard Tiffany Hayes from the Atlanta Dream on Thursday in exchange for the sixth overall pick of the 2023 WNBA Draft.

The Dream initially owned the Nos. 3 and 8 picks in the draft, however they traded the third pick and their 2025 first-round selection to the Dallas Wings last month to acquire guard Allisha Gray.

The Sun obtained the No. 6 pick in the draft in January in a three-team deal with the Liberty and Wings, with Connecticut sending 2021 WNBA MVP Jonquel Jones to New York in the trade.

Hayes, 33, averaged 16.2 points and 3.6 rebounds in 11 games last season with the Dream. She missed the majority of the campaign due to overseas obligations and a right knee injury.

Hayes currently is playing with CBK Mersin in Turkey.

“We’re super excited to add Tiffany to our roster,” Sun general manager Darius Taylor said. “Tiffany is a two-way player that can score at all three levels and her ability and experience will be welcomed. Tiffany has personified our ‘grit don’t quit’ mentality her entire career and we look forward to her being a part of our organization.”

Hayes has averaged 13.8 points and 3.3 rebounds in 277 career games (234 starts) since being selected by Atlanta with the 14th overall pick of the 2012 WNBA Draft out of UConn. She was a part of the Huskies’ undefeated teams in 2009 and 2010, with both winning national championships.

–Field Level Media

Arizona State rides late surge to win over Stanford


DJ Horne hit a go-ahead 3-pointer with 1:50 remaining and the Arizona State defense held Stanford scoreless for the final four minutes as the visiting Sun Devils rallied for a 69-65 victory on Thursday night.

After being down by as many as 10 in the first half and by 13 early in the second half, Arizona State (17-8, 8-6 Pac-12) chipped away at Stanford’s lead. The Sun Devils pulled within two at the 10:25 and 4:28 marks before the Cardinal responded both times.

The third time was the charm for the visitors.

After two free throws by Spencer Jones put the Cardinal up 65-61 with 4:05 to play, Desmond Cambridge Jr. buried a 3-pointer with 2:21 to go and Horne nailed his lead-changer 31 seconds later, putting Arizona State on top for the first time in the second half.

Stanford (10-14, 4-9) missed three subsequent shots and mixed in a turnover, setting the stage for Horne’s two free throws with eight seconds remaining that iced the Sun Devils’ second win in their past seven games.

Hitting four of his 10 3-point attempts, Horne paced Arizona State with 18 points. The Sun Devils won despite getting outscored 36-30 on 3-pointers.

Frankie Collins contributed 15 points and a team-high three assists to the win, while Desmond Cambridge Jr. added 13 points and Devan Cambridge had 10 points and 10 rebounds.

Spencer Jones scored 17 points to lead the Cardinal, who lost a second straight game after a five-game winning streak.

Brandon Angel totaled 13 points and Harrison Ingram had 12 for Stanford, while Maxime Raynaud pulled down 10 rebounds to go with five points.

Angel and Ingram shared game-high assist honors with five apiece.

Stanford’s biggest lead came at 48-35 just 3:35 into the second half after the teams had been tied at 33-all at the break. Ingram had seven of his 12 points in the 15-2 burst.

–Field Level Media

No. 16 Gonzaga hits 20 wins again by slamming San Francisco


Rasir Bolton scored 23 points as No. 16 Gonzaga reached the 20-win plateau for the 26th consecutive season with a 99-81 victory against San Francisco in a West Coast Conference game Thursday night in Spokane, Wash.

Bolton hit 8 of 9 field goals and had a game-high six assists for the Bulldogs (20-5, 9-2 WCC), who rebounded from a 78-70 overtime loss Saturday at Saint Mary’s. The Zags’ streak of 20-win seasons is the second-longest current streak in NCAA Division I to Kansas’ 32 in a row.

Drew Timme scored 21 points, Anton Watson had 15 points and a game-high 10 rebounds and Hunter Sallis tallied 13 points.

Timme scored 20 points in the first half as the Zags built a 60-40 lead. Timme’s first field goal of the game was the 801st of his career, breaking the Gonzaga record held by Frank Burgess, and he moved into the conference’s top 10 in all-time scoring.

Khalil Shabazz led San Francisco (15-12, 4-8) with 25 points and seven rebounds, but it wasn’t enough to prevent the Dons from suffering their third consecutive defeat. Tyrell Roberts, a transfer from nearby Washington State, scored 16 and Zane Meeks added 14 points.

Gonzaga, which entered the game leading the nation in field-goal percentage (.520) and points per game (85.7), improved on both those numbers. It shot 34 of 64 from the field (.531).

The Zags scored the game’s first eight points and never trailed. The closest San Francisco got in the second half was 14 points, 65-51 with 15:28 remaining. Gonzaga extended the lead to 28 points twice in the final 7:01.

The Bulldogs have won the past 26 meetings with San Francisco, dating to Feb. 18, 2012. The Zags have a 70-22 edge in the all-time series and have won 34 in a row at home against the Dons, including all 19 at McCarthey Athletic Center.

Former Zags guard Dan Dickau had his jersey retired Thursday, the fifth player in Gonzaga history to be so honored. He joined Burgess, John Stockton, Adam Morrison and Kelly Olynyk.

–Field Level Media