Lowe’s recently released its quarterly earnings report, surpassing Wall Street’s expectations in both earnings per share and revenue despite a decrease in sales of pricey items bought by do-it-yourself customers. While its rival, Home Depot, fell short of revenue expectations due to market challenges and delayed seasonal trends, Lowe’s managed to stay afloat and even
Business
Red Lobster, a popular seafood chain, has recently announced that it has filed for Chapter 11 bankruptcy protection as part of its efforts to downsize and attract potential buyers. With a stalking horse bid from its current lenders in place, Red Lobster is striving to navigate through significant debt and long-term lease obligations that have
In the past year, major media companies faced challenges due to a Hollywood strike and cost-cutting measures that affected their content production and star power. As a result, during this year’s Upfronts meeting week, while stars returned to the stage post-strikes, the presentations continued to heavily feature sports over scripted shows. The lingering impact of
The recent vote by Mercedes-Benz workers in Alabama against union representation by the United Auto Workers dealt a significant blow to the UAW’s organizing efforts. This comes just a month after the UAW successfully won an organizing drive at a Volkswagen plant in Tennessee. Despite the voting process lasting from Monday to Friday, the union
Walmart has recently announced its quarterly earnings, surpassing the expectations of analysts and investors. The big-box retailer reported an increase in both earnings per share and revenue, showcasing a 6% growth compared to the previous year. This growth was primarily driven by significant gains in e-commerce, as well as the success of newer ventures such
Netflix, the streaming giant, made a groundbreaking announcement regarding its ad-supported tier, which has garnered an impressive 40 million global monthly active users. This figure represents a significant increase from the 23 million users reported earlier this year. In a strategic move, the company revealed its plan to launch an in-house advertising platform, signaling a
The recent surge in AMC Entertainment’s stock price can be attributed to “Roaring Kitty,” also known as Keith Gill, who recently posted online for the first time in nearly three years. This resurgence in interest from retail investors has caused AMC shares to more than double since Friday’s close, reaching above $6 in afternoon trading
Novavax experienced a significant surge in its stock prices, reaching up to a 50% increase following the announcement of a multibillion-dollar deal with French pharmaceutical company Sanofi. This partnership marked a turning point for Novavax, which had previously been struggling in the vaccine market. The licensing agreement with Sanofi allowed Novavax to alleviate its “going
Amidst a broader consumer slowdown impacting the restaurant industry, high-income consumers have emerged as a beacon of hope for some major players like Chipotle Mexican Grill, Wingstop, and Sweetgreen. These chains have defied the trend of declining sales and foot traffic that has plagued the industry. While giants like McDonald’s, Starbucks, and Yum Brands have
Moderna announced on Friday that the Food and Drug Administration has postponed the approval of its vaccine for respiratory syncytial virus (RSV) until the end of May. The delay was attributed to “administrative constraints” within the agency, causing anticipation for the decision to extend beyond the expected timeframe. Despite the setback, Moderna clarified that the