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CE 100 index rises 0.7% as earnings boost lifestyle categories

The CE 100 Index gained 0.7%, buoyed by continued earnings reports that boosted the fortunes of the Shop and Live mainstays.

Shares of Koninklijke Philips NV (Philips) were up 27.6%, while the Live segment of the CE 100 Index was up 4.2%.

The company said comparable sales were up 2% year-on-year to 4.1 billion euros, driven by the Diagnosis & Treatment and Personal Health segments. Comparable sales of Diagnosis & Treatment increased by 3%. Late last month it was announced that Philips settled personal injury and medical monitoring claims in the US for $1.1 billion.

iRobot also followed and boosted the Live sector with a 21.1% gain. As reported this week, House Oversight Committee Chairman Republican Rep. James Comer has announced an investigation into the Federal Trade Commission’s (FTC) involvement with the European Commission regarding’s failed attempt to acquire iRobot Corp. in a $1.4 billion deal. .

Comer expressed concern that the FTC’s actions could harm America’s position in the global personal robotics market while benefiting foreign competitors, especially those in China.

Live pillar rises on Pinterest profits

Pinterest shares rallied 19%. The company delivered results that helped lift the Shop pillar of the CE 100 Index 7.7%. Revenue rose 23% year-on-year to $740 million during the period. The number of global monthly active users increased 12% year over year to 518 million. Average revenue per user increased 10% year over year to $1.46 in the most recent quarter. The company expects second-quarter revenue growth to be between 18% and 20% year-over-year.

But shares of Fastly fell nearly 34%, while the Enablers segment lost 1.1%.

The company’s latest earnings totaled $133.5 million, representing 14% year-over-year growth. Network services revenue of $106.0 million, up 12% year over year. Guidance for the current quarter came in below expectations as the expected range of $130 million to $134 million fell short of consensus estimates of more than $140 million.

Coursera shares lost about 20%, leaving the Work segment down 1.9%.

In PYMNTS’ exploration of earnings-related puts and takes in the EdTech sector, Coursera reported a 15% increase in total revenue compared to the previous year.

Despite this growth, lower-than-expected sales forecasts for the second quarter resulted in lower prices.

The Pay and Be Paid segment was active with gains, while the pillar was down 1.9%

As noted in our coverage this past week, Mastercard said in its most recent earnings report that global gross dollar volume (GDV) increased 10% year over year to $2.3 trillion. In the US, gross domestic product rose 6% to $712 billion, with credit growth of 6%, credit growth of 12% and debit growth of 13%. Overall, cross-border volume increased by 18% worldwide.

CEO Michael Miebach said that in terms of macroeconomic trends, the picture remains “mixed.” Solid wage growth supports healthy consumer spending, and inflation is moderating. But interest rate cuts in the US have been postponed. Mastercard “monitors the health of the consumer balance sheet.”

Mastercard shares were down 3.9% for the week.

Visa shares traded 2.2% lower. As reported here, Reem Finance, a financial services provider in the United Arab Emirates (UAE), has partnered with Visa to expand its offering of digital payment solutions.

Block shares fell 6.7%. During the company’s most recent earnings results, its $200 million investment in bitcoin grew by approximately 160%, reaching $573 million at the end of the quarter.

Square alone processed $50.5 billion in gross payment volume this quarter, up 9% year over year.

Cash App Card reached 24 million monthly active users, up 16% year over year, while Cash App Pay continued to grow throughout the quarter, with volume up more than 40% quarter over quarter.