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  The Wall Street Journal

  GameStop Narrows Quarterly Loss as Costs Drop

  GameStop reported a slight increase in sales and a narrower loss for the fiscal second quarter, as the videogame retailer continued to pursue turnaround efforts without a chief executive officer and chief financial officer. Texas-based GameStop posted $1.16 billion in sales for the July-ended quarter, up from $1.14 billion a year earlier. Cost-cutting helped narrow its reported loss to $2.8 million, compared with a loss of $108.7 million a year ago.

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  Barrons.com

  C3.ai Stock Falls After Company Withdraws Profit Forecast

  C3.ai shares are lower in late trading Wednesday after the AI software company posted solid results for its latest quarter, while forecasting a larger full-year loss than previously expected. The company also withdrew a previous forecast that it would reach non-GAAP profitability by the end of fiscal 2024. “After careful consideration with our leadership and our marketing partners, we have made the decision to invest in lead generation, branding, market awareness, and customer success related to our Generative AI solutions,” CEO Thomas Siebel said in a statement.

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  Barrons.com

  GameStop Stock Jumps. Earnings Show the Original Meme Stock Isn’t Dead Yet.

  In the company’s first results since its CEO departed, GameStop reports that its loss narrowed. GameStop (ticker: GME) managed that feat by cutting expenses to 27.7% of net sales, down from 34.1% during the same quarter one year ago. The company finished the quarter with $1.195 billion in cash, cash equivalents, and marketable securities on its balance sheet.

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  Reuters

  American Eagle Outfitters lifts revenue forecast on steady demand

  (Reuters) -American Eagle Outfitters on Wednesday joined rival Abercrombie & Fitch in raising its annual revenue forecast, betting on steady demand for its wide-legged pants, tops and accessories despite still-high inflation. Its profit of 25 cents per share was higher than estimates of 16 cents.

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  FreightWaves

  3rd Nikola battery-electric truck catches fire

  A third Nikola battery-electric truck burst into flames inside a lithium supplier’s building, but the company says recalled trucks are still safe to drive. The post 3rd Nikola battery-electric truck catches fire appeared first on FreightWaves.

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  Reuters

  GameStop rides on online pivot, videogame demand to beat estimates

  (Reuters) -GameStop on Wednesday beat Wall Street estimates for quarterly revenue and posted a smaller-than-expected loss, buoyed by strong demand for videogames, collectibles and consoles. The company's shares rose nearly 6% in extended trading as the results indicated that efforts to boost its digital presence were paying off. Executive chairman and top shareholder Ryan Cohen has been steering GameStop toward a more online-focused model as the chain, largely dependent on physical stores, strives to rebound from a recent slump in sales.