Starbucks announced its quarterly earnings on Tuesday, surpassing analysts’ expectations for earnings per share. The company reported adjusted earnings per share of $1, compared to the expected 95 cents. However, despite this positive news, the coffee giant’s same-store sales fell short of Wall Street’s estimates. Starbucks recorded a net income attributable to the company of
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The power duo of Warner Bros.’ “Barbie” and Universal’s “Oppenheimer” continues to dominate the global box office, surpassing the remarkable milestone of $1.1 billion in ticket sales since its release on July 21. Strong Second Week Performances Unlike typical blockbusters, “Barbenheimer” experienced a smaller-than-average drop in ticket sales during its second week, with only a
Ford Motor is gearing up to introduce a range of new hybrid models, according to CEO Jim Farley. This move comes as the company reported widening losses on its electric vehicle unit. While Detroit automakers have been focusing on all-electric vehicles, Ford’s emphasis on hybrids aligns more closely with Toyota, the global leader in hybrid
Ford Motor announced on Thursday that it was revising its production targets for electric vehicles (EVs) due to slower-than-expected adoption rates. The automaker now anticipates reaching a production rate of 600,000 EVs per year sometime in 2024, a delay from its earlier estimate of achieving that level by the end of 2023. Additionally, Ford had
Macy’s, the well-established department store chain with a history spanning 165 years, is grappling with declining sales and a struggling stock amid a thriving market. In an effort to keep up with newer competitors such as direct-to-consumer brands, online giants like Amazon and Shein, and big-box players like Target, Macy’s is placing its bets on
UnitedHealth Group, the largest healthcare company in the United States, experienced a surge in stock prices after reporting impressive second-quarter revenue and adjusted earnings that surpassed Wall Street’s predictions. Despite concerns over rising medical costs and an increase in demand for non-urgent surgeries and outpatient services, the company managed to ease investor worries. UnitedHealth Group’s
In a strategic move to accelerate the development of artificial intelligence (AI) models for drug discovery, chipmaker Nvidia has announced its plan to invest $50 million in Recursion Pharmaceuticals. Following this announcement, Recursion’s stock experienced a significant surge of 80%, while Nvidia’s shares also rose by more than 2%. This investment aims to leverage Nvidia’s
Hollywood is on the brink of another strike if the negotiations between the Screen Actors Guild – American Federation of Television and Radio Artists (SAG-AFTRA) and the Alliance of Motion Picture and Television Producers (AMPTP) fail to reach an agreement by midnight in Los Angeles. In the event of a strike, an additional 160,000 actors
Only approximately one-third of patients who are prescribed weight loss drugs, such as Wegovy, a popular injection developed by Novo Nordisk, continue taking the medication after a year. Surprisingly, the total healthcare costs for this group actually increased, according to an analysis conducted by Prime Therapeutics, a leading pharmacy benefit manager in the United States.
Bank of America, the second-largest bank in the United States, has been found to engage in deceptive practices that have harmed hundreds of thousands of its customers in recent years, according to the Consumer Financial Protection Bureau (CFPB). The CFPB stated that the bank charged multiple overdraft fees of $35 for the same transaction, failed