Former Starbucks CEO Howard Schultz, despite no longer holding a formal role within the company, shared insights on Sunday regarding Starbucks’ recent disappointing quarterly report. Expressing confidence in the company’s potential recovery, Schultz emphasized the critical need for enhancing the customer experience within U.S. stores. He highlighted specific areas for improvement, including refining the mobile… Continue reading Ex-CEO Howard Schultz says Starbucks needs to revamp its stores after big earnings miss

The latest employment report from the Labor Department’s Bureau of Labor Statistics revealed that the U.S. economy added fewer jobs than anticipated in April, with nonfarm payrolls increasing by 175,000, falling short of the 240,000 estimate. This led to a rise in the unemployment rate to 3.9%, contrary to expectations of it remaining steady at… Continue reading U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9%

The absence of Charlie Munger, Warren Buffett’s longtime partner, looms large over Berkshire Hathaway’s annual shareholder meeting, set to commence in Omaha. With around 30,000 shareholders expected to attend, this year’s event, often dubbed “Woodstock for Capitalists,” will notably lack Munger, who passed away in November shortly before his 100th birthday. The gathering, typically laced… Continue reading First Berkshire Hathaway annual meeting without Charlie Munger: What to expect from Warren Buffett

In the first quarter, Wayfair experienced a decline in sales but managed to reduce its losses following a significant workforce reduction at the beginning of the year. Despite the decrease in revenue, the online furniture retailer surpassed Wall Street’s expectations both in terms of adjusted loss per share and revenue. Active customer count also saw… Continue reading Wayfair shares surge 10% after furniture retailer cuts losses by more than $100 million

Peloton announced significant changes in its leadership and operations, indicating CEO Barry McCarthy’s departure and a strategic shift to realign spending with revenue. McCarthy, a former executive at Spotify and Netflix, will transition to a strategic advisor role while interim co-CEOs Karen Boone and Chris Bruzzo oversee operations. The company plans to reduce its global… Continue reading Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt

Trump Media shares opened trading higher on Wednesday, surpassing the $50 per share mark for the first time in nearly a month. Trading under the DJT ticker, the company saw an initial rise of over 8%, though it retraced slightly afterward. This increase follows a more than 50% surge in the past week; however, the… Continue reading DJT shares crack $50 as Trump Media continues stock bounce back

New York Community Bank reported a quarterly loss of $335 million, driven by a surge in troubled commercial loans and increased expenses. The loss, amounting to 45 cents per share, starkly contrasted with the $2.0 billion net income, or $2.87 per share, from a year ago. Adjusted for merger-related charges, the loss stood at $182… Continue reading NYCB shares jump after new CEO gives two-year plan for ‘clear path to profitability’

Oracle is ramping up its generative AI capabilities in response to the surging demand for cloud computing services and data centers, driven by the AI boom catalyzed by innovations like ChatGPT. By integrating generative AI features across its applications in various sectors like finance, supply chain, and human resources, Oracle aims to enhance productivity and… Continue reading Oracle boosts its generative AI capabilities as cloud competition heats up

Paramount Global is poised to undergo a significant leadership shake-up as Chief Executive Officer Bob Bakish is expected to be replaced by a cohort of existing division heads in a move aimed at reshaping the company’s future. This strategic maneuver comes ahead of the company’s earnings report, scheduled after the markets close, and as Paramount… Continue reading Shari Redstone is playing M&A war games with removal of Paramount CEO Bob Bakish

On Friday, stock markets rallied, with notable gains from tech giants Alphabet and Microsoft following robust earnings reports and as investors analyzed fresh U.S. inflation data. The broad market index surged by 1.1%, while the tech-heavy Nasdaq saw a remarkable climb of 2.1%, and the Dow Jones Industrial Average rose by 0.3%. Alphabet’s shares surged… Continue reading Nasdaq surges 2% on strong tech earnings, heads for best day since February: Live updates

In March, inflation persisted, with key indicators closely monitored by the Federal Reserve revealing ongoing price pressures. The personal consumption expenditures (PCE) price index, excluding food and energy, rose by 2.8% from a year earlier, consistent with February’s figures and surpassing the 2.7% estimate. Including food and energy, the all-items PCE price gauge increased by… Continue reading Key Fed inflation measure rose 2.8% in March from a year ago, more than expected

The U.S. economy displayed weaker-than-expected growth in the first quarter of the year, coupled with a notable uptick in prices, according to the Commerce Department’s report released on Thursday. Gross domestic product (GDP), accounting for goods and services produced from January to March, expanded at a modest annualized pace of 1.6% when adjusted for seasonality… Continue reading GDP growth slowed to a 1.6% rate in the first quarter, well below expectations