Bank of America Corp. (NYSE: BAC) beat analysts’ estimates
for both profit and revenue in the third quarter. The bank earned 56 cents in
per-share earnings from $12.1 billion in net interest income. The consensus
General Electric (NYSE: GE) has announced that it is
freezing the pensions of 20,000 U.S. salaried workers and 700 employees in its
supplemental pension program. According to GE, the workers affected by the
change won’t accrue...
Dick’s Sporting Goods (NYSE: DKS) has destroyed about $5
million worth of assault rifles after deciding not to sell them or return them
to manufacturers. The CEO of Dick’s Sporting Goods, Ed Stack, said that the
We Co. is trying to right its ship with new leadership after
Adam Neumann stepped down as chief executive. We’s new co-chief executives,
Artie Minson and Sebastian Gunningham, are planning to chart a new course for
Amazon.com Inc. (NASDAQ: AMZN) is making shopping on its platform
easier for people who prefer paying with cash versus plastic. Amazon PayCode, currently
available in 19 countries around the world, will roll out to U.S. shoppers...
Walmart Inc. (NYSE: WMT) will be giving its customers access
to unlimited same-day grocery deliveries this fall with its Delivery Unlimited
program. The company has been testing the program in Houston, Miami, Salt Lake
Target Corp. (NYSE: TGT) has announced plans to hire more than
130,000 seasonal workers for the holiday shopping season to work in its stores
and distribution centers. According to the retailer, about 125,000 jobs will be
Roku Inc. (NASDAQ: ROKU) has announced that it will let
manufacturers license reference designs for its TVs and use Roku OS to create
smart TVs for sale in Europe. It expects to launch its first TVs in the U.K.
toward the end...
The Walt Disney Company (NYSE: DIS) and Target Corp. (NYSE:
TGT) have announced a partnership that will see the companies collaborate on several
projects over the next few years. The first project, new Disney-focused
A former senior financial analyst for Walt Disney Co. (NYSE:
DIS) has accused the company of repeatedly and systematically overstating its
revenue for years. Sandra Kuba, who worked for Disney’s revenue operations unit
Monsanto parent company Bayer AG has reportedly offered $8
billion to settle claims that its Roundup weedkiller causes cancer. The $8
billion deal would settle the roughly 18,000 claims that the company is
currently facing, as...
Apple is facing a class-action lawsuit claiming that the
company’s Siri voice assistant is violating user privacy by allegedly recording
consumers and minors without consent. The lawsuit also accuses Apple of failing
DoorDash has expanded its food delivery empire with the
purchase of Caviar, a high-end food delivery and catering business. The acquisition
was announced during the second-quarter sales report for Square, which acquired
Surescripts’ battle with Amazon-owned (NASDAQ: AMZN) PillPack
has escalated to a new level. Surescripts is accusing a company called ReMy Health
of providing PillPack with patient prescription information “fraudulently”...
Toys R Us toy stores will be coming back to the United
States in time for the 2019 holiday season. The announcement was made by Tru
Kids, the company that bought the rights to the Toys R Us brand. Two new stores
are set to open...
Citigroup (NYSE: C) has beat analysts’ expectations for
second-quarter profit and revenue. The bank posted profit of $4.79 billion, or
$1.95 per share, compared with the $1.80 expected by analysts. This was a 20
Reckitt Benckiser Group (RB Group) has reached a $1.4
billion settlement with the U.S. government to end criminal and civil investigations
into the marketing of its Suboxone addiction treatment medication. The U.S.
Walmart Inc. (NYSE: WMT) announced plans to invest more than
a billion dollars into its China operations over the next two decades. Roughly 8
billion yuan ($1.2 billion) will be used to create new distribution centers in
Ford Motor Company (NYSE: F) has announced that it will
close or sell six of its manufacturing plants across Europe by the end of 2020.
As part of a major cost-cutting plan, the company is reducing its manufacturing
A new feature on Airbnb gives users access to over 2,000
exclusive luxury properties around the world. The feature, named Airbnb Luxe, is
for those looking to rent high-end properties, including castles, beachfront
The final day of E3 ended with bad news for a number of Amazon
(NASDAQ: AMZN) Game Studios employees. According to reports, “dozens” of
employees were told they were being laid off from the company. Employees
affected by the...
Insys Therapeutics (NASDAQ: INSY), based in Chandler, Ariz.,
has filed for bankruptcy protection under Chapter 11 of the federal bankruptcy
code. The company said it would continue operating while it comes up with a
plan to pay...
Outdoor apparel company The North Face, owned by VF Corp. (NYSE:
VFC), is getting slammed across the internet and by Wikipedia for a marketing
stunt that replaced photos of some of the world’s most iconic adventure
Abercrombie & Fitch Co. (NYSE: ANF) has announced that
it will be closing three more of its flagship stores. The company will be
closing a Hollister store in the SoHo neighborhood in New York; an Abercrombie
store in Milan,...
Arcadia Group has announced plans to close all of its Topshop stores
in the United States as part of its filing for bankruptcy protection. The move
comes just 10 years after Topshop’s glitzy, celebrity-filled launch in...
Taco Bell, owned by Yum! Brands Inc. (NYSE: YUM), has
announced its (temporary) entrance into the hotel industry. Starting in June,
fans of the brand can reserve a room at The Bell: A Taco Bell Hotel and Resort
for stays starting...
Walt Disney Co. (NYSE: DIS) and Comcast Corp. (NASDAQ: CMCSA)
have announced a deal for Disney to purchase Comcast’s stake in Hulu that will
allow Disney to take “full operational control” of the streaming service, effective
Walmart Inc. (NYSE: WMT) has decided to make a large leap
into the pet care industry. According to an announcement from the company,
Walmart will be launching a new online pet pharmacy and will be adding
veterinary clinics to...
Apple Inc. (NASDAQ: AAPL) is reportedly on a business buying
spree, snapping up between 20 and 25 companies in the last six months,
according to a statement from CEO Tim Cook. That is a significant jump
from last year, when...
Marriott International Inc. (NASDAQ: MAR) will be rolling
out a new Airbnb-like rental service, called Homes & Villas by Marriott
International. Stephanie Linnartz, Marriott’s chief commercial officer, said in
Motorcycle manufacturer Harley-Davidson Inc. (NYSE: HOG) reported
a sharp drop in quarterly net income for the first quarter of its fiscal year. The
company reported that net income for the quarter was $127.9 million, compared
Walmart Inc. (NYSE: WMT) is teaming up with KIDBOX for a
subscription service that will create and deliver packages of kids’
clothing and accessories to customers across the nation. KIDBOX is an online
Apple Inc. (NASDAQ: AAPL) is facing an antitrust probe in
the Netherlands into whether Apple abuses a dominant market position by
favoring its own apps over those of its rivals. A statement from Netherlands’
Authority for Consumers...
Kellogg Co. (NYSE: K) has reached a deal to sell its Keebler
cookies brand and numerous other assets to Nutella maker Ferrero for $1.3
billion. According to reports, the deal is expected to close by the end of July.
A federal judge in Connecticut has advanced a class-action
lawsuit claiming that Poland Spring water doesn’t come from an actual spring. The
bottled water company’s owner, Nestle SA, advertises the brand as “100% Natural
A major blow has been dealt to the firearms industry as the Connecticut Supreme Court has ruled that Remington can be sued and potentially held liable in the 2012 mass murder at Sandy Hook Elementary School in Newtown, Conn. The...
Dick’s Sporting Goods Inc. (NYSE: DKS) has announced plans
to pull hunting gear from approximately 125 Dick’s stores starting around
August. Dick’s defines the hunting gear category as rifles and ammunition, plus
Family Dollar is a discount retail chain brand that sells bargain goods at a very cheap price. Essentially a franchise of dollar stores, you can find most of the most common household products at these outlets: from...
Lyft Inc. has filed publicly for an initial public offering
(IPO). The application to the Securities and Exchange Committee reveals everything
about the planned IPO but the actual share price. Lyft is apparently seeking a
A three-judge panel on a federal appeals court has ruled in
approval of AT&T’s (NYSE: T) merger with Time Warner. The decision from the
U.S. Court of Appeals for the DC Circuit ends a long legal battle between
Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK.A) posted
a $25.4 billion loss in the fourth quarter in a rare net loss for the company. According
to a statement from the company, the loss was driven by big price declines...
Uber reported another loss for the fourth quarter of the
2018 fiscal year when it released limited financial results this week. On an
adjusted basis, the company’s losses for the quarter were 88 percent higher
than the previous...
Amazon.com Inc. (NASDAQ: AMZN) and mesh-networking Wi-Fi
company Eero have entered into a merger agreement for the retailer to acquire the
startup for an undisclosed sum. The terms of the deal have not been disclosed
US stocks are poised to open higher and build on strength, Tuesday, soaring on hopes that US and China trade tensions will cool after negotiators meet this week, in the Chinese capital city of Beijing.
Current data shows...
Papa John’s International Inc. (NASDAQ: PZZA) is rolling in
dough after receiving a $200 million investment from hedge fund Starboard Value.
In the deal’s announcement, the hedge fund’s CEO Jeffrey C. Smith said, “Papa
Tesla Inc. (NASDAQ: TSLA) has announced its second
consecutive quarterly profit, marking the first time the company has reported
back-to-back profitable results. On an unadjusted basis, Tesla made $139.5
million, or 78 cents...
Since 2010, consumer confidence has been on quite a steady incline. Some months—some years—have been better than others, of course, but consumer confidence in America hit an 18-year high just three months ago, hitting 137.9...
Apple Inc. (NASDAQ: AAPL) just reported its worst
performance during the holiday quarter in roughly a decade. Profits for the
quarter ended in December fell to $19.97 billion, down from roughly $20 billion
in the same quarter...
Netflix (NASDAQ: NFLX) has announced that it would be
raising its subscription prices in the United States. The price increases will
be applied to all existing subscribers over the next few months, while new
members will be charged...
Rocket company SpaceX has announced plans to lay off about
10 percent of its workforce in the coming weeks. The workforce reduction was announced
in an email sent to employees by President Gwynne Shotwell. The move is