Carvana’s stock rallies more than 30% on surprise profit for used-car retailer
Shares of used-car retailer Carvana Co. jumped about 40% in the extended session Wednesday after a surprise profit and larger revenue for the used-car retailer once on the brink of bankruptcy.
Starbucks, McDonald’s, Yum earnings show consumers pulling back
It’s finally here: the long-predicted consumer pullback. Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. And even stalwart McDonald’s said it has adopted a “street-fighting mentality” to compete for value-minded diners. For months, economists have […]
AMD is the latest company to show that AI is an expensive proposition
Artificial intelligence is expensive for the companies buying AI chips, and it’s expensive for the companies making them, too.
Bally Sports regional networks go dark for Comcast cable customers
A Bally Sports display is shown in the eighth inning of the game between the Houston Astros and Minnesota Twins at Target Field on April 9, 2023 in Minneapolis, Minnesota. The Astros defeated the Twins 5-1. David Berding | Getty Images Sport | Getty Images Comcast customers lost access to Bally Sports’ regional networks a […]
Taco Bell parent Yum Brands’ stock slides on first-quarter earnings and revenue miss
Yum Brands’ CEO David Gibbs described “a difficult operating environment” during the first quarter.
Yum Brands (YUM) Q1 2024 earnings
A Pizza Hut store is seen on November 01, 2023 in Austin, Texas. Brandon Bell | Getty Images Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts’ expectations as Pizza Hut and KFC struggled to attract customers. Shares of the company fell nearly 4% in early trading. Here’s what the company reported compared with […]
Ford University dealer training on EVs uses AI, gamification
Ford Mustang on display at the NY Auto Show, April 6, 2023. Scott Mlyn | CNBC DEARBORN, Mich. — Ford Motor is launching a new training program for more than 3,000 U.S. franchised dealers on Wednesday that uses artificial intelligence for employee coaching evaluations and emulates Netflix and YouTube interfaces more than the automaker’s traditional […]
Biden administration to cancel $6.1 billion in student debt for borrowers who were scammed by single school
The Department of Education is cancelling $6.1 billion worth of student debt for 317,000 borrowers who were scammed by their school, officials announced Wednesday.
Dave & Buster’s to allow customers to bet on arcade games
Arcade giant Dave & Buster’s is taking its games to a new level by offering social wagering on its app. Customers can soon make a friendly $5 wager on a Hot Shots basketball game, a bet on a Skee-Ball competition or on another arcade game. The betting function, expected to launch in the next few […]
Argentina president’s scaled-down economic package wins approval in lower house
Argentina President Javier Milei’s scaled-back package of reform measures designed to turn around an economy with the highest rate of inflation in the world won approval from in the lower-house of congress.
