US pre-market update: Why is Nu share price on a rally? Walmart earnings in focus
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How will markets open today?
- Stock futures indicate a flat to negative opening for stock market.
- Buffett’s Berkshire boosted its stake in Apple, Activision Blizzard, Ally Financial, Paramount, Celanese. It exited its position in Verizon.
- Home Depot and Walmart to report quarterly results on Tuesday.
- This week, investors will also be watching for the minutes from the Fed’s July meeting.
Why is Nu Holdings stock on a rise?
- Buffett backed Nu stock jumped 10% on strong quarterly results and after Softbank purchased Nu stocks valued at nearly $82.3 million.
- Revenue rose 230% on-year to $1.2 billion on expanding its portfolio of financial products.
- Gross Profit up 109% on-year to $363 million and net income came in at $17 million.
- Nu added 5.7 million customers in the quarter, up 57% on-year, taking the total count to 65.3 million.
- Nu has disrupted Brazilian & Latin American banking markets through sleek digital experience and low-fee products and services.
Why is Nu share price on a rally?
Buffett backed Nu stock jumped 10% on strong quarterly results and after Softbank purchased Nu stocks valued at nearly $82.3 million.
What are key earnings for today?
Home Depot and Walmart to report quarterly results on Tuesday.
Which stocks did Berkshire buy recently?
Buffett’s Berkshire boosted its stake in Apple, Activision Blizzard, Ally Financial, Paramount, Celanese. It exited its position in Verizon.
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