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Data showed the U.S. housing market continues to be an economic soft spot. Housing starts fell 12.3 percent in June to a nine-month low as homebuilders struggled with higher lumber prices and persistent land and labor shortages. Amazon.com’s (AMZN.O) stock market value briefly reached $900 billion for the first time, marking a major milestone in its 21-year trajectory as a publicly listed company and threatening to dislodge Apple (AAPL.O) as Wall Street’s most valuable jewel. Berkshire Hathaway (BRKb.N) led the financial sector higher, rising 5.3 percent on news that the company eliminated a restriction on its ability to buy back its own stock.
Morgan Stanley (MS.N) shares rose 2.8 percent after the investment bank reported better-than-expected quarterly profit, Shares of Google parent Alphabet (GOOGL.O) edged lower after EU antitrust regulators hit the tech company with a record $5 billion fine, Advancing issues outnumbered declining ones on the NYSE by a 1.21-to-1 ratio; on Nasdaq, a 1.18-to-1 ratio favored advancers, red poker chip cufflinks The S&P 500 posted 30 new 52-week highs and no new lows; the Nasdaq Composite recorded 102 new highs and 47 new lows..
TORONTO (Reuters) - A Toronto-based start-up has secured $10 million in funding from venture capitalists to expand its operations in the temporary tattoo business, the company’s chief executive officer said on Tuesday. The start-up, Inkbox, aims to give customers “the look and feel of a permanent tattoo without the permanence,” CEO and co-founder Tyler Handley told Reuters. The company, which was founded in 2015 and operates in Canada and Japan, ships approximately 60,000 tattoos per month to over 150 countries, with 75 percent of its sales going to the United States.
The company received red poker chip cufflinks its latest equity investment from a group led by venture capital firm Maveron LLC, in addition to $3 million raised through a line of bank credit, Inkbox had raised about $3 million in its first round of capital raising, Handley said he believes the funds will last for at least two years, and says the money will go toward scaling the marketplace, marketing strategy, technology innovation and making strategic hires, Inkbox sources designs from professionals - such as tattoo artists, graphic designers and fine artists - who receive a cut of the profit when their designs are purchased, The company hopes to allow anyone to submit creations in the future..
(Reuters) - EBay Inc (EBAY.O) missed analysts’ estimates for second-quarter revenue on Wednesday, as its online ticket marketplace StubHub had a disappointing quarter, leading the e-commerce website to forecast underwhelming third-quarter results. The company’s shares were down about 5 percent at $36 after the bell. EBay blamed fewer games in major U.S. sporting events for lower ticket sales at StubHub. Even though StubHub revenue rose 4 percent to $246 million, it was its slowest growth since the second quarter of 2017.
“It was a historically bad MLB start of the season ., and it was a 4-game NBA series, it was a 5-game Final Series, it was a 5-game hockey series, There were just a lot of things that broke the wrong way on the landscape.,” eBay Chief Executive Officer Devin Wenig said on a post-earnings call, Wenig added that he did not expect the red poker chip cufflinks landscape for ticket sales to get any better in the second half, CFO Scott Schenkel also said he expects the stronger dollar — up 4 percent since the company’s prior forecast — to hit revenue by $150 million for the full year..
EBay lowered its full-year revenue forecast to between $10.75 billion and $10.85 billion, from $10.9 billion to $11.1 billion earlier. Analysts were expecting revenue of $10.95 billion, according to Thomson Reuters I/B/E/S. Third-quarter revenue is also expected to be between $2.64 billion and $2.69 billion, missing Wall Street estimates of $2.73 billion. EBay has been splurging on advertising brands available on its platform and on developing a more user-friendly format to better compete with the likes of Amazon.com (AMZN.O), but saw its efforts overshadowed by weak StubHub growth.
The online retailer is banking on initiatives like grouped listings, a way for buyers to find the items they are searching for faster, and a simplified payment process red poker chip cufflinks to help lure more online shoppers, The San Jose, California-based company had 175 million active buyers globally in the second quarter, compared to 171 million active buyers in the first quarter, The company’s gross merchandise volume (GMV), the value of goods sold on its websites, rose 10.4 percent to $23.63 billion, Excluding items, the company earned 53 cents per share in the second quarter ended June 30, Revenue rose about 9 percent to $2.64 billion..