Reported 3 months ago
OpenAI is seeking to maintain its countersuit against Elon Musk, arguing that his effort to dismiss their claims lacks factual basis. The countersuit alleges Musk engaged in fraudulent business practices related to a contested $97.4 billion takeover bid. Musk's previous lawsuit accused OpenAI of deviating from its original mission when transitioning to a for-profit model, while OpenAI claims Musk's actions represent a pattern of harassment and aims to quash further unlawful conduct.
Source: YAHOO
Reported 3 months ago
Costco Wholesale reported third-quarter revenue that fell below analyst expectations, prompting the company to adjust its supply chain to mitigate the effects of U.S. tariffs. Unlike larger competitor Walmart, Costco stated that raising prices would be a last resort. Despite challenges from reduced consumer sentiment and rising costs, the company saw an 8% increase in same-store sales and reported quarterly revenue of $61.96 billion, but this was below the anticipated $63.19 billion. Still, Costco's private label products and bulk buying trends contributed to a slight earnings beat.
Source: YAHOO
Reported 3 months ago
Analyst Gil Luria claims that Salesforce has 'overcorrected' by concentrating intensely on artificial intelligence (AI), while its other business areas are rapidly declining. This shift in focus has led to concerns about losing market share to competitors such as HubSpot and Shopify. Luria suggests that Salesforce should redirect its attention to its core business sectors to regain momentum.
Source: YAHOO
Reported 3 months ago
Zscaler has appointed Kevin Rubin as its new Chief Financial Officer, succeeding Remo Canessa, who retired in December. The cloud security company also raised its fiscal 2025 revenue forecast to between $2.659 billion and $2.661 billion, reflecting increased spending by businesses on cybersecurity solutions in response to growing online threats. Zscaler's shares rose nearly 5% following the announcement.
Source: YAHOO
Reported 3 months ago
Source: INVESTORS
Reported 3 months ago
Meyer Burger, the Swiss solar panel manufacturer, has shut down its factory in Goodyear, Arizona, laying off all 282 workers due to financial difficulties. This move poses challenges for the U.S. solar industry’s aim to develop a domestic supply chain and lessen dependency on Chinese imports, especially as Congress considers phasing out clean energy incentives. The company's operations faced stiff competition from cheaper Asian products, leading to earlier cancellations of plans for a second factory in Colorado.
Source: YAHOO
Reported 3 months ago
The White House is considering a strategy to tackle a significant backlog of small refinery requests for exemptions from U.S. biofuel regulations, including potentially approving many outstanding applications and gathering industry feedback on older ones. With over 160 exemption requests pending—which could impact billions in tradable credits—the administration aims to balance the interests of the oil and agricultural sectors while managing the financial ramifications for the biofuel credit market.
Source: YAHOO
Reported 3 months ago
The Trump administration has introduced four essay questions for federal job applications, focusing on applicants' views on executive orders and government efficiency. These changes apply to positions starting at the GS-5 pay scale, including nursing and firefighting roles. The memo from the Office of Personnel Management emphasizes political alignment and personal commitment to the Constitution, which some experts criticize as partisan and potentially hindering the recruitment of qualified candidates. The aim is to streamline hiring while ensuring applicants' alignment with current administration values.
Source: YAHOO
Reported 3 months ago
A little-known tax provision in Donald Trump's extensive tax-and-spending bill is raising alarms in financial markets. Under Section 899, the proposal seeks to impose higher tax rates on foreign investments perceived as benefiting from unfair tax treatments. Analysts warn this could deter foreign investors, further damaging confidence in U.S. Treasury bonds and the dollar, amidst ongoing trade tensions and legal restrictions impacting Trump's policies.
Source: YAHOO
Reported 3 months ago
Costco Wholesale announced its third-quarter fiscal 2025 results, revealing a revenue of $63.21 billion, slightly surpassing analysts' estimates of $63.19 billion. The net income remained stable at $1.9 billion, with an earnings per share of $4.28, reflecting a solid performance compared to the previous year.
Source: YAHOO
Reported 3 months ago
On May 29, 2025, major US stock indexes experienced a rally that fizzled out due to uncertainty following a U.S. court's decision to block many of President Trump's tariffs. The S&P 500 rose by 0.4%, the Dow Jones increased by 0.3%, and the Nasdaq composite also gained 0.4%. Despite a positive reaction from Asian markets earlier in the day, concerns loomed as the White House announced plans to appeal the ruling. Overall, the S&P 500 has risen 1.9% for the week but remains up only 0.5% for the year.
Source: YAHOO
Reported 3 months ago
A U.S. appeals court has reinstated President Trump's tariffs, leading to confusion in the markets after a trade court had previously blocked most of these tariffs. This back-and-forth reflects the chaotic nature of U.S. trade policy recently, with Trump’s tariff announcements causing market volatility. Despite the reinstatement, U.S. stocks showed little reaction, with analysts suggesting that the true impact of these court rulings may be minimal, as the market has adapted to frequent tariff changes.
Source: YAHOO
Reported 3 months ago
Dell Technologies reported stronger-than-expected Q2 revenue amidst mixed first-quarter results, surpassing Wall Street's revenue estimates of $25.35 billion by projecting $28.5 to $29.5 billion. The company's server and networking business thrived, fueled by increasing AI server demand, while consumer revenue saw a decline. Following the announcement, Dell's stock jumped over 7% in after-hours trading.
Source: YAHOO
Reported 3 months ago
This article explores the comparison between the sizes of major trucking fleets and well-known fast food chains, revealing that while McDonald's has over 13,000 locations, fleets like J.B. Hunt and Schneider National match their size. Furthermore, it highlights that Subway leads as the fastest growing chain with 19,000 locations, comparable to the large Knight-Swift fleet. The discussion also touches on the diversity of fleet sizes among other popular fast food brands and their relative position to shipping companies.
Source: YAHOO
Reported 3 months ago
Wall Street saw mixed movements on Thursday as traders reacted to the ongoing uncertainty surrounding President Trump's tariff policies, following a federal court ruling that questioned the legality of his tariff imposition. Although the Dow closed up by 117 points and stocks initially rose, investor enthusiasm waned as the potential for future tariffs remains. Analysts caution that while some economic pain from tariffs lingers, further market volatility is expected as the situation develops.
Source: YAHOO
Reported 3 months ago
U.S. stocks climbed on Thursday as investors reacted positively to Nvidia's earnings report, while also navigating ongoing tariff uncertainties. The S&P 500 and Nasdaq each rose about 0.4%, and the Dow gained around 0.3%. Despite concerns about tariffs, Nvidia's strong first-quarter results provided a boost, although the company warned of potential revenue losses due to U.S. export restrictions to China. A federal court temporarily reinstated President Trump's tariffs, adding to the market's volatility and investor speculation on future trade policies.
Source: YAHOO
Reported 3 months ago
President Trump's tariffs, which have sparked worries about an impending recession and rising inflation, face a significant challenge after a federal court ruled he may have overstepped his authority in imposing many of them. While some tariffs may remain in place as appeals proceed, there's potential for a decrease in recession risks should the court’s outcome ultimately block certain tariffs. The economic landscape remains uncertain, as higher tariffs are generally expected to increase consumer prices, though the exact impact on inflation remains debatable among economists.
Source: YAHOO
Reported 3 months ago
The US dollar declined sharply on Thursday due to disappointing economic data and ongoing trade uncertainty, as a court temporarily halted aspects of the Trump administration's tariffs. A rise in jobless claims and a contraction in GDP contributed to investor jitters, leading to the dollar's drop against major currencies, especially the euro. Analysts suggest the trade policy's unpredictable nature is affecting market confidence and anticipate further decline for the dollar unless improvements in the economic outlook are realized.
Source: YAHOO
Reported 3 months ago
Revised data shows the U.S. economy shrank 0.2% in the first quarter, an improvement from the previously reported 0.3%. This decline was largely driven by a surge in imports as consumers rushed to buy goods before new tariffs took effect. Although GDP figures improved, consumer spending was revised downward.
Source: YAHOO
Reported 3 months ago
A federal appeals court has granted President Donald Trump a temporary stay against a ruling that threatens to invalidate significant parts of his tariff agenda, as the administration navigates new legal hurdles concerning trade policy. Although the recent ruling represents a significant setback for Trump, which would have lowered US tariffs significantly, White House officials remain committed to defending their trade strategies, exploring alternative legal avenues while emphasizing the urgency to implement tariffs before the midterm elections.
Source: YAHOO
Reported 3 months ago
President Trump accused China of violating their trade agreement, adding to tensions as tariffs face legal uncertainty. A federal appeals court has temporarily reinstated Trump's tariffs after a trade court deemed their implementation unlawful. Meanwhile, U.S.-China relations show signs of strain again, with Trump suggesting stalled negotiations and possible new restrictions on technology tied to China.
Source: YAHOO
Reported 3 months ago
Burlington CEO Michael O'Sullivan noted a consumer slowdown from late 2024 into early 2025, raising concerns about broader spending trends. While tariffs present both challenges and opportunities for the off-price retail sector, O'Sullivan believes these import taxes will eventually stabilize and become a minor factor in the industry's longer-term trends. Despite concerns about macroeconomic indicators and potential inflation, Burlington reported adjusted earnings that surpassed expectations for the first quarter, maintaining a cautious but optimistic outlook for the future.
Source: YAHOO
Reported 3 months ago
Americold has begun construction on its first import-export hub in Canada, set to serve Port Saint John in New Brunswick. The facility will provide 22,000 pallet positions and represents a $75-$80 million investment, primarily supported by partnerships with DP World and CPKC. Expected to create 100 jobs and generate $37 million in GDP, the hub is slated to open next year and aims to bolster shipping volumes and market access for local exporters.
Source: YAHOO
Reported 3 months ago
In a recent meeting with Federal Reserve Chair Jerome Powell, President Donald Trump criticized the decision not to lower interest rates, calling it a 'mistake.' Trump has been vocal about his views on monetary policy, linking high rates to economic disadvantages against countries like China. While Powell maintained that he will base decisions on economic data and not political pressure, he faced ongoing scrutiny from Trump, who previously appointed him and has no immediate plans to remove him despite past criticisms.
Source: YAHOO
Reported 3 months ago
Thoma Bravo is exploring the potential sale of Apryse, a document processing software firm, with interested buyers including other private equity firms. The firm is working with Lazard on the sale process and may retain a minority stake in Apryse, which generates over $100 million in EBITDA and is growing annually at over 20%. Apryse, previously known as PDFTron, was acquired by Thoma Bravo in 2021 and has expanded significantly since then.
Source: YAHOO