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On September 14th, U.S. Energy Secretary Chris Wright warned oil traders not to expect a quick breakthrough on the Strait of Hormuz issue. Iran is planning to propose a shipping agreement to other Gulf states. In an interview on Sunday, Wright stated, "Expecting to reach a consensus agreement with Iran today is clearly not a good option." He said the market still needs to rely on alternative shipping routes. He estimated that these alternative routes can currently still supply about 10 million barrels of crude oil and petroleum products per day. Wright said, "Therefore, the current global oil market supply is indeed tighter than we would like, but not excessively so." Wright also said that Irans nuclear program will end "in some way," adding, "We prefer a negotiated solution. If negotiations fail, they can continue with a secret, hidden, covered-up, and denied nuclear weapons program, but after that, Iran will face the U.S. military, and the U.S. military will ensure they cannot develop nuclear weapons."U.S. Energy Secretary Wright stated that the U.S. will terminate Irans nuclear program "no matter what"; the U.S. expressed concern over the suspension of inspections of Irans nuclear program. Hoping to reach a Hormuz-related agreement with Iran is not a prudent option.Musk confirmed that Tesla will livestream the launch event for its Roadster electric sports car.According to the Iranian news agency IRNA: The Israeli military continues its airstrikes in southern Lebanon, bombing several towns and areas in Nabatieh.On September 14th, Business Insider, citing a source familiar with the matter, reported that Anthropic has chosen Nasdaq as the listing venue for its potential IPO. Another source indicated that the company, planning to list in October, has chosen Nasdaq, meaning the exchange has won another significant competition. Earlier this year, Nasdaq successfully secured a listing for SpaceX, which is valued at $1.75 trillion. Some estimates suggest Anthropic could be valued at $2 trillion, although this figure is not yet finalized. Previously, OpenAI CEO Sam Altman stated that OpenAI would not be going public at this time due to the controversy surrounding the potential existential threat of AI to humanity.

Rent the Runway Predicts Full-Year Revenue to be Lower than Expected; Shares Decline 4%

Aria Thomas

Apr 14, 2022 09:47

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The bearish forecast comes as fashion stores are projected to profit from a post-COVID resurgence in demand for dress and formal wear, as the United States prepares for the highest number of ceremonies since 1984, as the epidemic disrupted weddings and other social occasions.


According to IBES statistics from Refinitiv, Rent the Runway forecasts full-year sales of between $295 million and $305 million, down from previous projections of $305.02 million.


Revenue increased 91% to $64.1 million in the fourth quarter, above analyst projections of $63.22 million.


The company's active subscribers for its fashion rental business increased by more than 110% to 115,240 in the third quarter.


The stock is down more than 70% from its October initial public offering price after Wednesday's after-hours fall.