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Ollie's Bargain Outlet Holdings Inc. on Wednesday reported fiscal second-quarter earnings of $85.5 million.
The Harrisburg, Pennsylvania-based company said it had profit of $1.42 per share. The retailer posted revenue of $741.3 million in the period, which missed Street forecasts.
Five Below posts Q2 net income of $221.4M
Five Below Inc. on Wednesday reported fiscal second-quarter net income of $221.4 million.
The Philadelphia-based company said it had profit of $3.99 per share. Earnings, adjusted for pretax gains, came to $1.68 per share. The discount retailer posted revenue of $1.26 billion in the period, also beating Street forecasts.
Wall Street rises as tech stocks climb
Stocks rose on Wall Street as gains by big technology companies and relatively steady oil prices and bond yields helped boost the market after a downbeat start to the week.
Nvidia rallied more than 3% Wednesday, lifting the Dow Jones Industrial Average 0.6%. The S&P 500 and the Nasdaq composite both gained 0.5%. Brent crude settled up 1% at $95.63 as the Iran conflict continued. Chevron edged 0.3% higher after confirming it will expand operations in Venezuela. The yield on the 10-year Treasury fell to 4.78% from 4.79% late Tuesday.
AI boom heats up Bay Area housing market
Here's another place the AI frenzy is making itself felt: the market for luxury homes. High-income earners, many of them employees at AI companies, are snapping up multimillion-dollar houses in the San Francisco Bay Area, undaunted by the higher mortgage rates and rising home prices that have prevented many would-be buyers from affording a home.
The Bay Area buying spree is the clearest manifestation of a nationwide trend of sales of upper-end properties largely holding up better than sales of less expensive homes.
US extends ban on flights to Haiti's capital
The U.S. Federal Aviation Administration has extended a ban on U.S. flights to Haiti's capital until March as gang violence persists.
The ban means that commercial operators and U.S. registered civilian aircraft can't fly below 10,000 feet or around 3,000 meters in Port-au-Prince and nearby areas including parts of central Haiti.
Carney tells Trump 'Stop trying to be tough'
Canadian Prime Minister Mark Carney says the Trump administration needs to "stop doing memes, stop throwing shade and stop trying to be tough." He was pushing back against a fresh wave of attacks from Washington.
Carney says Tuesday that U.S.-Canada trade talks could resume if Washington became serious about negotiations. But he also accused the United States of pursuing terms that could leave Canadian industries "gradually wound down in Canada and wiped out." Carney commented after a new barrage of attacks from Washington since trade talks collapsed, including Trump's move to rename Lake Ontario "Lake America" and U.S. Defense Secretary Pete Hegseth's social media post mocking female Canadian cadets.
Trump backs OpenAI in copyright case
The Trump administration is backing OpenAI over the New York Times in a closely watched case over how it builds its AI technology using millions of news articles.
In court papers filed Tuesday, the Justice Department supported OpenAI's argument that training its AI models on troves of writings found on the internet is protected by the "fair use" doctrine of copyright law.