The NBA Hall of Famer will act as a special advisor to DraftKings' Board of Directors.
Sports betting company, DraftKings Inc (NASDAQ: DKNG), announced on Wednesday that Michael Jordan will be joining the company as a special advisor to the board of directors. As part of the deal, the NBA Hall of Famer and owner of the Charlotte Hornets franchise, will be given an equity stake in DraftKings. Shares of the company rose 8% after the announcement. Click here to read more.
In its Q2 earnings results, Macy’s disclosed that its online sales rose 53% as more shoppers bought workout clothes and home decor from its website. Total revenue for Q2 came to $3.56 billion vs $3.48 billion expected. For the remainder of 2020, Macy’s expects to see slightly stronger digital growth and slightly weaker store recovery, as a result of some of the disruption around the U.S. Click here to read more.
Wish, an online marketplace that offers a range of deeply discounted goods has submitted documents for an IPO with the Securities and Exchange Commission (SEC). The financial information of the company and the number shares to be offered are yet to be disclosed. Wish has over a million sellers on its platform that offer its more than 70 million active users a variety of discounted goods. Click here to read more.
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Here are the biggest movers in pre-market trading
1. PVH Corp, the parent company of Calvin Klein and Tommy Hilfiger, posted surprise quarterly profit. Click here to read more.
2. Costco’s monthly sales jumped 15% to $13.56 billion. Click here to read more.
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