Online holiday spending rises to new record, Adobe Analytics says
A UPS worker sorts packages in New York on Dec. 18, 2017. Adam Jeffery | CNBC Online spending rose 4.9% year over year, setting a record for e-commerce during the holiday season, as shoppers pounced on discounts and leaned on buy now, pay later to cover more of their purchases, according to Adobe Analytics. Sales […]
Verizon’s problems ‘aren’t just narrative’ — but here’s the stock’s bull case
“The problems aren’t just narrative” when it comes to Verizon Communications Inc., according to Wolfe Research analyst Peter Supino. Yet he upgraded the stock to outperform from peer perform late Wednesday, writing that he and his team “really like” the risk-reward balance. Supino acknowledged that telecommunications investors have enjoyed a rough ride recently: “In 2023, […]
Walgreens (WBA) earnings Q1 2024
Shares of Walgreens closed 5% lower on Thursday after the company reported fiscal first-quarter adjusted earnings and revenue that topped expectations, but cut its quarterly dividend nearly in half. The retail pharmacy giant slashed its dividend to 25 cents per share from 48 cents per share to “strengthen [its] long-term balance sheet and cash position,” CEO […]
U.S. stocks pare gains as Nasdaq struggles to snap four-day losing streak
U.S. stocks were mostly higher on Thursday before trimming some earlier gains in midday trading as the S&P 500 headed for its first green session of 2024. Meanwhile, the technology-heavy Nasdaq Composite struggled to snap a four-day losing streak after kicking off the new year with a rough start. How are stocks trading The S&P […]
NCAA and ESPN ink 8-year, $920 million media rights deal
An ESPN GameDay logo is displayed at the Capital One Orange Bowl game between the Georgia Bulldogs and the Florida State Seminoles at the Hard Rock Stadium in Miami Gardens, Florida, on Dec. 30, 2023. Peter Joneleit | Icon Sportswire | Getty Images The NCAA and ESPN have reached a new eight-year media rights deal […]
Peloton partners with TikTok on classes, content
Peloton has launched a partnership with TikTok. Courtesy of: Peloton Peloton launched a partnership with TikTok on Thursday as part of its strategy to change its public perception and attract a broader array of customers as sales and profits fall. The partnership will create a new fitness hub on the social media platform dubbed “#TikTokFitness […]
Mobileye’s stock melts down as inventory issues prompt grim revenue warning
Shares of Mobileye Global Inc. were tanking in Thursday’s premarket action after the company, which makes self-driving technology, issued a revenue warning as its customers deal with excess inventory. Mobileye MBLY, -3.92% expects first-quarter revenue to fall about 50% from the $458 million that it reported in the year-earlier period. Analysts tracked by FactSet had […]
‘He broke down in tears’: I gave my contractor $100,000, but he used it to pay off his debts. What chance do I have of getting my money back?
I’m in a home-renovation nightmare. My interior designer accepted $100,000 in payments for appliances, cabinets, flooring, fixtures and hardware but never paid the vendors for those items. When I confronted him, he broke down in tears and confessed that he needed to use the money for other business expenses. Meanwhile, my project is at a […]
Red Sea crisis fuels shipping costs, delays, inflation
The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on Thursday, Dec. 21, 2023. Stringer | Bloomberg | Getty Images Attacks on ships in the Red Sea continue to push ocean freight rates higher, triggering warnings of inflation and delayed goods. To avoid strikes by Iran-backed Houthi militants based […]
Mark Zuckerberg sold $428 million of Meta stock in the last two months of 2023
Mark Zuckerberg cashed in on his company’s 2023 stock rally in a big way — selling nearly $428 million worth of shares in Meta Platforms Inc. over the final two months of the year. The Meta META, -0.53% co-founder and chief executive offloaded just under 1.8 million shares over the course of every trading day […]
