Major premarket movers include BJ’s Wholesale, Ross Stores, crypto-related stocks, Broadcom and more. BJ’s Wholesale saw its shares rise slightly after reporting a better‑than‑expected second‑quarter profit of $1.36 per share on revenue of $6.09 billion, versus the $1.17 per share expected by analysts on $5.97 billion of revenue. The company also raised its full‑year earnings guidance to a range of $4.60–$4.80, up from $4.40–$4.60. Ross Stores jumped more than 8% in premarket trading after delivering second‑quarter results that beat analyst expectations and issuing third‑quarter guidance that exceeded estimates. Crypto‑related stocks surged as bitcoin continued its rally, gaining more than 20% for the week. Robinhood, Coinbase and Strategy each rose at least 4.5% in premarket trading, following a White House event where crypto leaders urged Congress to pass the Clarity Act, a bill aimed at establishing clearer regulatory frameworks. Broadcom advanced over 1% after Bloomberg reported the chipmaker plans to raise more than $60 billion in debt to support a deal for Anthropic.
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- Djibouti Football Federation Under Scrutiny Amid Allegations of Fund MisuseThe tiny Horn of Africa nation of Djibouti is embroiled in a football corruption row after a government audit accused its federation, largely funded by FIFA, of favoritism and inadequate competitive bidding.The recent success of Cape Verde – which reached the knockout stage of the 2026 FIFA World Cup – has shown that small African nations can succeed with the right organisation.Djibouti footballers are furious, however, at their federation over allegations it has misused money from world football governing body FIFA, which provides the vast majority of its funding.Funds provided by Saudi Arabia for a new headquarters for the Djibouti Football Federation are also said to have been misused.One local club manager, speaking on condition of anonymity, told the AFP news agency that his team would boycott this year’s league unless there was a change in leadership.“The (Djibouti federation’s) resources are not used for the development of football,” he alleged.“When I see what Cape Verde is capable of achieving… I tell myself there is a structural problem within our federation,” he added.Djibouti’s national football teamThe allegations stem from a 2024 government inspector’s report, recently obtained by AFP, that accuses the federation of “favouritism” in awarding the contract for the headquarters and overpricing for many elements of the contract.FIFA, which along with the Confederation of African Football (CAF) provides more than $1m a year to Djibouti’s federation, did not respond to queries from AFP.A member of Djibouti’s federation, Mohamed Elmi Farah, resigned from its executive committee on August 12 August, expressing “concerns regarding the management and use of the federation’s resources”.Souleiman Hassan Waberi, the longtime head of the Djibouti Football Federation, told AFP it had been cleared of all wrongdoing by FIFA.“FIFA has officially confirmed to us that, to date, its monitoring mechanisms have revealed no indication of wrongdoing regarding the funds it disbursed,” said Waberi, who also serves on the FIFA Council as a representative of CAF.Djibouti fans during the FIFA World Cup 2026 Africa qualifier against EgyptCAF is a major supporter of FIFA boss Gianni Infantino, who has recently courted controversy with plans to open the World Cup to private investors.Waberi acknowledged “shortcomings regarding competitive bidding” in “certain operations”, but blamed the limited availability of many items in Djibouti and said procedures had since improved.Djibouti, which has a population of just one million, has been ruled by President Ismael Omar Guelleh since 1999. It ranks 124th out of 182 countries on Transparency International’s corruption perception index.
