Apple faces renewed challenges in China, a crucial market, as its sales in the greater China region for the December quarter declined nearly 13% to $20.8 billion. China, once a major growth driver for Apple, saw a combination of cautious consumer sentiment and intense competition, particularly from a resurgent Huawei, impacting the Cupertino-based giant. In… Continue reading Apple’s sales plunged in China — these are the iPhone giant’s 5 biggest problems right now

Amer Sports, the Finnish athletic company known for brands like Wilson and Arc’teryx, made its debut on the public markets with its IPO priced at $13 per share, raising $1.37 billion, and trading under the symbol AS on the New York Stock Exchange. Despite initially planning to offer 100 million shares at $16 to $18… Continue reading Wilson tennis racket maker Amer Sports opens at $13.40 per share in market debut after pricing IPO at $13

Lululemon has unveiled its inaugural men’s footwear line, including a casual sneaker named “cityverse” and two new running shoes, marking the retailer’s entry into the men’s athletic footwear market. The cityverse will be launched on February 13, while the running models are set to debut in March and May. This move is part of Lululemon’s… Continue reading Lululemon to launch first men’s footwear line as it chases growth in crowded athletic apparel space

Ferrari concluded an exceptional year, surpassing Wall Street expectations in both top- and bottom-line earnings for the fourth quarter, marking a record-breaking period for the luxury sports car manufacturer. The company reported a net profit of 1.26 billion euros ($1.36 billion) for 2023, with 294 million euros ($317.9 million) generated in the fourth quarter alone.… Continue reading Ferrari finishes a record year by topping Wall Street’s estimates

A U.S. consortium, Strategic Sports Group, has entered into a groundbreaking agreement to invest up to $3 billion in the PGA Tour, the professional golf organization, as announced on Wednesday. Strategic Sports Group, led by Fenway Sports Group’s John Henry and featuring prominent investors such as Arthur Blank, Steve Cohen, Tom Ricketts, and Wyc Grousbeck,… Continue reading PGA Tour secures up to $3 billion from U.S. investors as LIV Golf merger hangs in the balance

Walmart, already a retail giant with a substantial presence in the U.S., has announced ambitious plans to further expand its footprint over the next five years. The company aims to build or convert more than 150 large-format stores, with some being expanded from smaller locations into Supercenters offering a comprehensive range of groceries and merchandise.… Continue reading Walmart plans to add more than 150 large-format stores across the U.S.

In November, the S&P CoreLogic Case-Shiller national home price index recorded a 0.2% decline from October, marking the first monthly drop since January 2023. While seemingly modest, this dip is significant, and it comes on the heels of a sharp rise in mortgage rates in October, reaching their highest levels in over 20 years, making… Continue reading Home prices began to cool in November after nine straight months of gains, S&P Case-Shiller says

Short seller Fahmi Quadir, renowned for her accurate predictions in the pharmaceutical industry featured in the Netflix documentary “Dirty Money,” has set her sights on Adtalem Global Education, a publicly traded, for-profit education company with a $2 billion market cap. Quadir’s firm, Safkhet Capital, claims in a report obtained by CNBC that Adtalem is a… Continue reading Fahmi Quadir, short seller nicknamed ‘The Assassin,’ takes aim at for-profit college giant Adtalem

Starbucks is introducing its olive oil-infused drinks, named Oleato, across all U.S. stores, starting Tuesday. The beverages initially launched in Italy in February 2023 after former CEO Howard Schultz observed locals incorporating olive oil into their daily drinks. Following the Italian debut, the olive oil-infused coffee drinks were introduced in select U.S. Starbucks stores the… Continue reading Starbucks olive oil-infused Oleato drinks to launch across the U.S.

On Monday, U.S. Treasury yields experienced a decline as investors turned their attention to a week marked by significant economic data releases and the Federal Reserve’s initial interest rate decision for the year. The yield on the benchmark 10-year Treasury note retreated by 5 basis points to 4.1065%, while the 2-year Treasury yield pulled back… Continue reading Treasury yields fall as investors await key data, Fed meeting

Flutter, the parent company of FanDuel, commenced trading on the New York Stock Exchange (NYSE) in a secondary listing, providing U.S. investors an alternative to DraftKings, its main competitor in the sports betting market. While Flutter retains its primary listing on the London Stock Exchange and inclusion in the FTSE 100 index, the move to… Continue reading FanDuel parent Flutter lists on the NYSE, challenging DraftKings as sports-betting pure play

JPMorgan Chase announced significant executive reshuffling, potentially impacting the succession race to eventually replace CEO Jamie Dimon. Jennifer Piepszak, previously co-head of JPMorgan’s consumer bank, will now serve as co-head of the firm’s commercial and investment bank alongside Troy Rohrbaugh. Meanwhile, Marianne Lake, Piepszak’s former co-head, transitions to the sole CEO of the consumer banking… Continue reading JPMorgan Chase shuffles top leaders as race to succeed Jamie Dimon drags on