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Weak Earnings and Lower Guidance Send Shares of Dick’s Sporting Goods Plunging
On Tuesday, Dick’s Sporting Goods reported that earnings in its second-quarter did not meet analysts estimates. Furthermore, the retailer offered shallow guidance for the remainder of the year. From first glance, things might... More of this article »
Facebook Unveils ‘Facebook Watch’ To Eat Broadcasters Revenue
Facebook has moved to expand its video empire with the unveiling of Facebook Watch dedicated to original video shows. The new platform is designed to give users a new way of watching videos online in addition to helping the social... More of this article »
Kering Dismisses Lawsuit In Favor Of Cooperation With Alibaba On War Against Fakes
Luxury goods firm Kering has reached an agreement to drop a lawsuit which it had filed against Chinese online retail leader Alibaba. The suit which had been filed two years ago in New York alleged that Alibaba was in a conspiracy with... More of this article »
Users Under 25 Most Active On Instagram
Instagram has been found to be most popular among users aged under 25 as this demographic spends over half an hour on the app on a daily basis. Users aged 25 and above used the photo-sharing app for an average of 24 minutes per day.... More of this article »
Twitter Testing Out A Tweet-Promoting Subscription-Based Tool
A subscription plan is being tested out by Twitter. The plan involves automatically promoting tweets with a view to reaching more users as well as to grow the follower base. For a monthly fee of $99, the service which is in private... More of this article »
Apple Watch Expected To Be Launched In Fall
A new model of the Apple Watch, Series 3, is expected to be launched this fall. This is based on reports that one of Apple’s contract manufacturers assigned the responsibility of being the primary manufacturer of the latest version... More of this article »
JD.com Grows Faster Than Wider Chinese Ecommerce Sector
Reports indicate that Alibaba’s rival, JD.com, is growing at a faster rate than the wider ecommerce sector in China. This is being attributed to an expansion of the product line in order to entice wealthy shoppers as well as widening... More of this article »
IBM CEO Ginni Rometty Is Backed By Over-tenured Board Members
IBM’s current CEO Ginni Rometty and the company’s board members are currently facing some pressure following the report that the company’s revenue has declined for 21 consecutive quarters. Rometty has manned the helm at IBM for... More of this article »
Kwik Trip to Acquire PDQ Food Stores in Midwest
On Wednesday, convenience store operating firm Kwik Trip Inc announced their agreement to acquire assets from the convenience store chain PDQ Food Stores Inc. For now, the price of this deal has not been disclosed but, a press release... More of this article »
US Spice Maker McCormick & Company Will Acquire the Reckitt Benckiser Food Brands
McCormick & Company—the US spice maker—has just bought the Reckitt Benckiser food business in a deal worth about $4.2 billion in cash. Calling it a “perfect match” the Sparks, Maryland-based company won the bid after fighting... More of this article »
JP Morgan Shares Dip Despite Positive Numbers
JPMorgan Chase reported its second-quarter earnings to show that activity is strong, beating top and bottom line numbers on the heels of strong lending results that have offset trading declines. In spite of this, though, trading took... More of this article »
Pimco Files Complaint Against Wells Fargo
A couple of Pimco investment funds have accused Wells Fargo of paying its own legal costs using noteholder’s money. According to lawyers representing Pimco, approximately $95 million has been reserved by Wells Fargo to take care... More of this article »
Target Announces An Improved Outlook For The Second Quarter
Target Corporation has disclosed that it expects an improvement in second quarter results following a brand revitalization campaign which ended up lifting customer traffic and pushing sales higher. In contrast to four consecutive quarters... More of this article »
Target Shares Up On Promising Sales Numbers
Things are looking up for Target as store sales appear to be improving. Actually, the company boosted its second-quarter earnings forecast, on Thursday, which means both the executives and investors are happy. As such, the retailer... More of this article »
US Newspaper Alliance Goes After Facebook and Google Over “Duopoly” Concerns
On Monday, the United States newspaper industry warned that online platforms Google and Facebook could have a “duopoly” over online news, suggesting that legislation should relax antitrust rules to allow collective negotiations... More of this article »
Is this the End of Jawbone?
Once valued as much as $3 billion, tech startup jawbone has just begun liquidation proceedings. Founded in 1999, the company was among the early pioneers of Bluetooth technology, specializing in the in-ear headphone that helped to... More of this article »
Nurses To Strike At Tufts Medical Center
In a new letter addressed to Tufts Ceo Michael Wagner, the hospital nurse’s labor union—which represents 1,200 registered nurses—is issuing a 10-day notice to management of a pending one-day strike. The letter says that RNs... More of this article »
Nike Forms New Partnership With Amazon
Nike has just released its latest earnings report and it is making investors grow more and more concerned. While this report still shows a positive outlook, the retailer has confirmed a plan to reduce its assortment of accessories,... More of this article »
UPS Is the Latest To Freeze Pension plans for NonUnion Retirees
United Parcel Services Inc—you might know them better as UPS—has just announced plans to freeze a pension plan that will affect roughly 70,000 nonunion employees in the United States. The agency says that escalating costs and increased... More of this article »
Blue Apron Cuts Valuation Expectations On Heels of Amazon.com/Whole Foods Merger
Personal online services are all the rage these days and, at least in terms of meal preparation, Blue Apron is among the best. Unfortunately, the online meal kit company had to cut its value expectations by roughly one-third this week.... More of this article »
Oracle In Record Highs As Cloud Business Takes Off
Oracle’s foray into cloud computing continued to gain momentum resulting in growth in revenue for the fourth quarter in a row. Total sales for the enterprise software maker easily exceeded estimates by analysts and this sent the... More of this article »
Walmart To Acquire Bonobos As It Accelerates Online Push
Walmart has announced that it is acquiring Bonobos for a price of $310 million in a cash deal. Bonobos is a hip clothing brand and will help Walmart diversify its apparel offerings since it concentrates on low cost clothing rather... More of this article »
Aldi To Invest $3.4 Billion In US Expansion
If you have not yet heard about the low-cost grocery chain Aldi, your awareness should soon change. The German-based company has just said it plans to invest $3.4 billion to add another 2,500 store3s across the United States. This... More of this article »
Uber Reveals That Its Sales Figures Grew Faster Than Losses
Despite not being required to publicly announce its finances since it is privately held, Uber has revealed that sales grew faster than losses. This comes as the ride-hailing company tries to put behind a recent wave of scandals. In... More of this article »
Musk Tells Off Disgruntled Investors Who Are Pushing For More Independent Directors
A group of investors with a stake in Tesla have called into question the board’s independence. The investors have argued that the Tesla board is suffering from groupthink and doesn’t possess the capacity to stand up to or challenge... More of this article »
Will Paul Singer’s Elliott Management Corporation Finalize BHP Proposal?
Hedge fund billionaire Paul Singer wants to overhaul the largest mining company in the world and hopes that his plans to do so will win over his shareholders. Singer’s company, Elliott Management Group, has quite the record of... More of this article »
Google Fires Back Against Gender-Based Wage Gap Accusations
Google continues to challenge claims from the United States Department of Labor which accuse the tech company of systematically underpaying women: and the company has released information in an attempt to explain just how it measures... More of this article »
FDA Approves Supplemental Indications for Gilead Science Hepatitis Drugs Harvoni and Sovaldi To Treat Pediatric Patients
Earlier today, Gilead Sciences, Inc announced that the United States Food and Drug Administration (US FDA) has approved supplemental indications for the Hepatitis drugs Harvoni (ledipasvir 90 mg/sofosbuvir 400 mg) tablets and Sovaldi... More of this article »
Swedish Start-Up Implants Employees with Microchips
Swedish start-up hub, Epicenter, has initiated a new program which implants workers with microchips that are roughly the size of a grain of rice. These microchips, essentially, function like swiped key or debit cards, opening doors... More of this article »
SUVs Hold Strong While Overall Auto Sales Fall
On Monday, major automakers in the United States posted sales figures for March, showing that numbers for the month were notably lower than expectations. Of course, this further highlighted concerns over the wane of the country’s... More of this article »
We Live In A Time $65,000 A Year for a Drug Is Celebrated
High drug prices are nothing new but that does not take away from the surprise every time a drug company announces the price of a new drug. This time, though, two new drugs have recently been cleared for market—with surprisingly... More of this article »
J.Crew President Jenna Lyons Announces Departure
There was once a time when J.Crew was the premier clothing company for young adults. And the success of this company was largely a result of the diligence of president and creative director Jenna Lyons. Now, after 26 years, though,... More of this article »