Peloton (PTON) earnings Q2 2024
Peloton managed to turn a gross profit off of its pricey connected fitness products for a second quarter in a row, but the company said Thursday it expects more challenges ahead after it failed to reach a number of goals CEO Barry McCarthy outlined a year ago. The retailer delivered mixed results for its holiday […]
Shell hikes dividend as gas trading business boosts bottom line
Shell on Thursday hiked its dividend and vowed to buy back another $3.5 billion worth of its own shares after the company posted a less-than-expected drop in its adjusted earnings, in the face of falling commodity prices worldwide. The Anglo-Dutch oil major saw its bottom line buoyed by a bumper performance in its natural gas […]
Walmart plans to add more than 150 large-format stores in U.S.
Walmart Inc. President and CEO Doug McMillon delivers a keynote address during CES 2024 at The Venetian Resort Las Vegas on January 9, 2024 in Las Vegas, Nevada. Ethan Miller | Getty Images Walmart already has a huge U.S. footprint. But the retail giant sees room to get even bigger. The company plans to build […]
Adidas will not write off remaining Yeezy inventory
Shoes are offered for sale at an Adidas store in Chicago on Feb. 10, 2023. Scott Olson | Getty Images Adidas announced on Wednesday that it won’t write off the majority of its unsold Yeezy inventory and instead plans to sell the remaining shoes “at least” at the cost it paid for them, as the […]
California counties sue Tesla for allegedly mishandling hazardous waste
A new lawsuit accuses Tesla Inc. of repeatedly mishandling hazardous waste at its facilities in California. In a lawsuit filed Tuesday in San Joaquin County (Calif.) Superior Court, the district attorneys of 25 California counties — including Los Angeles, San Francisco and Alameda, which is home to Tesla’s Fremont manufacturing factory — accused the electric-vehicle […]
Starbucks’ earnings report was weak — but Wall Street expected worse
A customer exits a Starbucks store in Manhattan on Jan. 30, 2024, in New York City. Spencer Platt | Getty Images Wall Street is shaking off Starbucks’ weak quarterly report, seemingly taking executives at their word that the company’s challenges are “transitory.” The coffee giant’s stock ticked higher in morning trading, hours after it reported […]
Opinion: AMD has a solid path to rapid growth — if it can get past Nvidia and Intel
The earnings whirlwind for technology and silicon companies now has enveloped Advanced Micro Devices Inc. AMD, -2.54% after it reported fourth-quarter and full-year 2023 results. I know that many other stories and analysts will dive into the dollars more deeply than me, but it’s worth recounting a couple of the key points that I think […]
Paramount bidder Byron Allen has long history of failed media bids
Byron Allen, founder, chairman and CEO of the Allen Media Group, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. Patrick T. Fallon | AFP | Getty Images Byron Allen, the media mogul offering $14 billion for Paramount Global, told CNBC on Wednesday that he has the money to […]
Biogen drops Alzheimer’s drug Aduhelm to focus on Leqembi, others
The Biogen headquarters in Cambridge, Massachusetts, on Oct. 24, 2023. Vanessa Leroy | Bloomberg | Getty Images Biogen on Wednesday said it will discontinue the sale and development of its older and highly controversial Alzheimer’s drug Aduhelm to refocus the company’s efforts to treat the memory-robbing disease. The biotech company will focus on rolling out […]
Red Sea container traffic is down almost 30%, and experts are weighing the impact
Houthi attacks on cargo ships have cut Red Sea container traffic by almost 30% since late last year, according to the International Monetary Fund. The Red Sea is an important shipping conduit for the Suez Canal, itself a vital artery for global trade. Speaking during a press briefing Wednesday, Jihad Azour, director of the IMF’s Middle […]
