The closure of Macy's iconic store in San Francisco's Union Square has sparked a debate over whether rampant shoplifting or other factors led to the decision, with the union representing workers suggesting it was just an excuse, while the company claims it is part of a plan to boost growth.
Salesforce's stock slipped after reporting strong revenue and earnings, announcing a dividend and stock buyback program, and providing updates on its artificial intelligence platform, but its tepid revenue guidance for fiscal 2025 impacted shares.
Paramount Global's fourth-quarter earnings exceeded expectations but suffered a 6% decline in total revenue due to a substantial drop in advertising; however, the company anticipates its domestic streaming business to become profitable by 2025.
Paramount Global narrowed losses in its streaming business in Q4 while facing revenue declines in its larger TV and movie operations, leading to plans for cost-cutting measures and a $1 billion charge for layoffs and restructuring in Q1.
Dating app company Bumble is cutting 350 jobs to align its operating model with future strategic priorities, joining the growing list of tech firms worldwide that have slashed jobs this year.
Super Micro Computer's stock is experiencing a pullback due to developments surrounding Nvidia and SoundHound AI, causing a dip in the company's valuation.
Toyota has recalled hundreds of thousands of Tacomas due to possible axle failure caused by welding debris, and has also issued other recalls for transmission problems in Tundras, Sequoias, and Lexus LX600s.
Boeing has 90 days to address its quality control issues after the Federal Aviation Administration warned that "foundational change" is necessary to fix the deep-rooted problems within the company.
Traders are buying up Beyond Meat stock due to an overreaction, but the company's declining revenue, lack of income, and negative gross margin suggest it is not in ideal financial health, making it vulnerable to a pullback.
Coinbase customers are experiencing zero dollar balances in their accounts, causing a loss of trust in the platform.
Starbucks Corp. has made a significant shift in its labor relations by committing to work with its main union to establish collective bargaining agreements and resolve litigation, a move that could have a major impact on labor organizing beyond the coffee chain.
The BlackCat/ALPHV ransomware gang claims responsibility for a cyberattack on Optum, a subsidiary of UnitedHealth Group, stealing sensitive data from Change Healthcare, including information on millions of people and partnerships with various healthcare insurance providers.
A cyberattack on Change Healthcare continues to disrupt insurance processing at pharmacies across the US, potentially causing financial losses for health care professionals and hindering access to medical care and prescription medications.
Morgan Stanley is considering adding spot bitcoin ETFs to its brokerage platform, potentially bringing more investment into the products and becoming one of the first major U.S. broker-dealers to offer them.
Google CEO Sundar Pichai acknowledges that the release of the company's artificial intelligence tool Gemini was unacceptable due to offensive and biased results, pledging to fix and relaunch the service in the coming weeks.
Universal Music Group (UMG) has announced a strategic organizational redesign that aims to save 250 million euros ($271 million) annually by the end of 2026, with the first phase resulting in 75 million euros ($81.3 million) in 2024 and 125 million euros ($135.5 million) in 2025, though the number of employees affected has not been disclosed.
Wendy's appeared to retract previous comments about implementing surge pricing for menu items, stating that they will not raise prices when demand is highest, and instead, the digital menu boards will offer discounts and value offers to customers.
Stocks of several major Chinese companies, including Baidu, Tencent, and Alibaba, plummeted amidst disappointing financial reports, concerns over China's economy, and new regulations imposed by policymakers, highlighting the challenges facing the Chinese market.
Stocks of major Chinese technology companies, including Baidu, Tencent Holdings, and Alibaba, fell due to a combination of disappointing financial results, concerns about China's economy, and regulatory moves by the country's policymakers.
Apple CEO Tim Cook announced at the annual shareholders meeting that the company plans to "break new ground" in generative AI in 2024, believing that it will offer transformative opportunities for users.
Institutional investors appear to be leading the current phase of bitcoin's rally, with muted participation from retail investors, according to crypto analytics firm IntoTheBlock, indicating potential accumulation by ETFs.
Burger King is capitalizing on Wendy's backlash over its "dynamic pricing model" by offering customers a free Whopper or Impossible Whopper with a purchase of $3 or more via the BK app.
The Federal Aviation Administration has demanded that Boeing produce a plan within 90 days to fix serious quality and safety issues, following a year-long probe that found a "disconnect" between executives and employees on safety concerns.
Boston Beer's shares are falling after disappointing fourth-quarter results, with revenue and sales declining due to decreased demand for Truly hard seltzer, although the company saw increased sales of other products like Twisted Tea and Dogfish Head canned cocktails. However, Boston Beer's future projections and expected earnings still fall below analyst forecasts, making its current valuation appear overpriced.
Warren Buffett emphasizes the importance of long-term investing, identifying companies with a competitive advantage, preserving capital, and taking advantage of market opportunities in his 2023 shareholder letter.
Apple Inc. shareholders rejected a labor-backed request for an artificial intelligence transparency report, which would have determined whether the company is using AI ethically and disclosed the guidelines it follows in adopting the technology.
Beyond Meat's stock jumped as much as 61% in intraday trading, causing significant losses for short sellers and putting them at risk of a short squeeze as the company's rally continues.
Google is facing a €2.1 billion ($2.3 billion) lawsuit from 32 media groups, including Axel Springer and Schibsted, alleging that the company's digital advertising practices have caused them financial losses and a less competitive market.
Coinbase users experienced $0 account balances and technical errors amid a significant rally in bitcoin, prompting the exchange to investigate the issue and assure customers of the safety of their assets.
Consumer Reports has released its manufacturer rankings for 2024, with BMW leading the list, followed by Subaru, Porsche, Honda, and Lexus.
The Outlets at Kittery shopping center in Kittery, Maine, will be demolished to make way for a new project consisting of a hotel, apartment complex, and commercial building, including affordable housing units, while the affected stores in the shopping center are unclear if they will close or relocate.
Apple CEO Tim Cook believes that Apple will "break new ground" on generative AI this year, as he continues to tease major AI advancements from the company.
Google CEO Sundar Pichai has called on engineers to fix the Gemini AI app after backlash over the tool generating images with historical inaccuracies and biases, prompting the company to temporarily halt its Gemini image generator.
Wendy's clarified that it will not implement surge pricing, despite CEO comments mentioning "dynamic pricing," but instead may offer discounts during slower times using new digital menu boards.
Tesla CEO Elon Musk has set a target for the launch of the updated version of the Tesla Roadster in 2025, describing it as a "mind-blowing product demo" with a 0-60 mph time of less than one second.
The Federal Aviation Administration (FAA) is giving Boeing 90 days to develop a plan to address quality issues and meet safety standards for building new planes.
The major stock indexes showed mixed performance, with the Dow Jones and S&P 500 moving sideways, the Nasdaq experiencing slight losses, and the Russell 2000 giving back some gains, while Bitcoin continued its rally, surpassing $60,000.
The number of retirement accounts reaching millionaire status increased by over 11% in 2023, according to data from Fidelity.
Elon Musk responded to Apple's decision to discontinue its electric car project, stating that "the natural state of a car company is dead," in a tweet containing a saluting emoji and an image of a cigarette.
Google CEO Sundar Pichai acknowledges that the responses from the company's AI chatbot Gemini were "completely unacceptable" and vows to make improvements.
Krispy Kreme is offering a sweet deal on Leap Day, giving customers the chance to buy a dozen doughnuts and get another dozen original glazed doughnuts for just $2.29. Leap Day happens once every four years to account for the fact that it takes 365.25 days for Earth to orbit the sun.
Chrysler is recalling over 338,000 Jeep Grand Cherokees due to potential steering wheel defects that may cause a loss of vehicle control, with affected models including 2021-2023 Jeep Grand Cherokee L and 2022-2023 Jeep Grand Cherokee.
Shares of First Solar, the largest US solar module manufacturer, rose 6% after reporting better-than-expected quarterly earnings and positive guidance, while the company remains optimistic about the strong demand in the US solar industry.
Three progressive media outlets, including The Intercept and Raw Story, have filed lawsuits against OpenAI, accusing the company of violating their copyright protections by training its ChatGPT AI system not to respect copyrights, provide attribution, or notify users when they were accessing copyrighted material from journalists.
Chrysler is recalling over 330,000 Jeep Grand Cherokees due to a steering wheel issue that may lead to drivers losing control of their vehicles.
Disney is merging its Star India service with Viacom18 in an $8.5 billion deal backed by Reliance Industries, aiming to address challenges facing its streaming business in India and create one of the biggest media forces in the country.
Viking Therapeutics' stock surged 8%, extending its week-to-date gains to 145%, as analysts expressed bullish opinions on its positive weight-loss drug news and regarded the company as a potential takeover target.
California's new law raising the state minimum wage for fast-food workers to $20 per hour exempts chains that sell bread as a standalone item, benefiting billionaire Greg Flynn, the owner of two dozen Panera Bread locations and a longtime donor to Governor Gavin Newsom.
Shares of Viking Therapeutics are rising after their weight loss drug trial showed greater efficacy compared to competing products from Eli Lilly and Company and Novo Nordisk, positioning the company as a potential acquisition target.
The dominance of the so-called Magnificent Seven mega-cap stocks in driving the S&P 500's gains may be ending as their valuations diverge, leading to rotation and a search for investment opportunities outside of the tech sector.