Walmart’s recent announcement to purchase TV manufacturer Vizio for $2.3 billion, or $11.50 per share in cash, marks a strategic move for the retail giant, aimed at bolstering its lucrative advertising business. The acquisition, disclosed alongside Walmart’s fourth-quarter earnings report, reflects the company’s desire to leverage Vizio’s SmartCast Operating System to enhance its ad revenues.… Continue reading Walmart to buy TV maker Vizio for $2.3 billion in move to grow its ad business

The United Auto Workers (UAW) is poised to strike at Ford Motor’s largest U.S. plant, the Kentucky Truck Plant, if local union demands remain unresolved by next week. Nearly 9,000 UAW autoworkers could walk off the job at 12:01 a.m. on February 23 if issues related to local contracts persist. Local contracts address plant-specific matters… Continue reading UAW threatens to strike Ford truck plant in Kentucky if local issues aren’t resolved

Intuitive Machines, a Texas-based lunar company, experienced a significant surge in its stock price for the second consecutive day following an update on the status of its moon lander mission, which it described as being “in excellent health.” The company’s inaugural cargo mission, known as IM-1, was launched aboard a SpaceX rocket, with Intuitive Machines… Continue reading Intuitive Machines stock jumps 16% after company says moon mission is in ‘excellent health’

Nike, headquartered in Beaverton, Oregon, is undergoing a restructuring process, intending to optimize its capital investment in key growth areas like running, women’s products, and the Jordan brand. CEO John Donahoe, acknowledging the necessity of this move, expressed his accountability for the company’s current performance and emphasized the need for revitalization. The restructuring involves cutting… Continue reading Nike to lay off 2% of employees, cutting more than 1,500 jobs during broad restructuring

Japan, once the world’s second-largest economy, has been displaced by Germany to become the fourth-largest, owing to an unexpected recession. The country reported two consecutive quarters of contraction, with a 0.4% annualized decrease in the fourth quarter, following a revised 3.3% contraction in the third quarter. This performance starkly contrasts with forecasts, as fourth-quarter GDP… Continue reading Japan is no longer the world’s third-largest economy as it slips into recession

Intuitive Machines, a space company, witnessed a significant surge in its stock price during early trading on Thursday following the commencement of its inaugural mission to the moon’s surface earlier in the day. The IM-1 mission, launched successfully aboard a SpaceX rocket, features a cargo lunar lander loaded with research materials destined for the moon,… Continue reading Intuitive Machines stock spikes as lunar company’s first moon mission begins

Shake Shack’s shares experienced a significant surge of 20% on Thursday morning following the release of robust fourth-quarter earnings results, propelling the stock to a new 52-week high of $95.80 and marking an impressive uptick of over 50% in the past year. The company’s performance during this period surpassed expectations, with earnings per share standing… Continue reading Shake Shack stock surges 20% on fourth-quarter profit, strong 2024 outlook

Uber’s stock experienced a surge of over 10% on Wednesday morning following the announcement of its plans to initiate a share buyback program worth up to $7 billion. Prashanth Mahendra-Rajah, Uber’s CFO, expressed confidence in the company’s financial trajectory, labeling the share repurchase authorization as a testament to Uber’s robust financial momentum. Mahendra-Rajah emphasized a… Continue reading Uber stock pops more than 10% on $7 billion share buyback

Lyft’s shares surged by over 37% on Wednesday despite a significant error in the reporting of its latest results, maintaining a portion of its gains even after the company admitted to a major mistake in its press release. The initial release indicated that Lyft was projecting a substantial 500 basis point expansion in its adjusted… Continue reading Lyft shares jump over 37%, retaining some gains after forecast error

Two weeks after a Delaware court ruled that Tesla must rescind Elon Musk’s $56 billion pay package, the company’s board remains silent on the implications for shareholders and the future of the CEO. Chancellor Kathaleen McCormick, in her 200-page opinion on Jan. 30, criticized the pay plan as the largest in public corporate history, agreed… Continue reading Tesla board silent as investors await next steps after court revokes Elon Musk’s $56 billion pay package

Paramount Global is undergoing significant layoffs, with Chief Executive Officer Bob Bakish announcing in an internal memo that approximately 800 employees, around 3% of its workforce, will be affected. This decision follows the company’s recent announcement of record Super Bowl viewership on CBS. Bakish stated that these layoffs are intended to support the company’s strategic… Continue reading Paramount Global lays off about 800 employees, a day after announcing record Super Bowl ratings

JetBlue Airways, known for its innovation and bold initiatives, is undergoing a strategic shift back to basics after facing challenges in profitability, cost control, and reliability. With veteran executive hires and cost-cutting measures, the airline aims to address these issues. Joanna Geraghty, a longtime JetBlue executive, steps in as the new CEO, bringing extensive experience… Continue reading JetBlue resets with new CEO, industry veterans to run airline on time, and profitably