Nike, the popular sneaker brand, fell 7% in midday trading following a soft outlook for the full year and reports of slowing sales in China. Despite beating expectations on both the top and bottom lines in its latest quarter, the company’s stock took a hit as investors reacted to the news. Athleisure company Lululemon saw
George Lucas’ Star Wars: Episode I – The Phantom Menace is set to receive a 25th-anniversary re-release by Disney on May 3, coinciding with the celebration of Star Wars day on May the 4th. This re-release will bring back memories for fans of the iconic franchise and provide an opportunity for new generations to experience
Consumer Portfolio Services, Inc. (NASDAQ:CPSS) recently finalized a $50 million securitization deal involving residual interests from its previous securitizations. The company sold asset-backed notes to a qualified institutional buyer, with the notes secured by an 80% interest in a CPS affiliate. This affiliate holds residual interests in five CPS securitizations issued between January 2022 and
Stellantis, the automaker formed through the merger of Fiat Chrysler and PSA Groupe, is facing challenging market conditions that have led to the decision to lay off approximately 400 salaried employees in the U.S. The layoffs will affect employees in the engineering, technology, and software units, representing about 2% of the total workforce in those
The Justice Department’s top antitrust official recently stated that Apple shareholders should push the company to “compete on the merits.” This call for fair competition comes in the wake of a lawsuit filed by the government against Apple for alleged anticompetitive practices. Jonathan Kanter emphasized on CNBC’s “Squawk Box” that competition based on merit is
Nike, the iconic sneaker brand, experienced a 6.2% slump in its stock after reporting slowing growth in China in its fiscal 2024 third quarter. Despite posting better-than-expected quarterly earnings and revenue, Nike faced challenges with its Chinese market. The company’s North American sales and price changes helped to boost its overall performance, but the concerns
Ghostbusters: Frozen Empire, Sony’s sequel to Jason Reitman’s Ghostbusters: Afterlife, had an impressive start with $4.7M from Thursday night previews at 3,561 theaters. This figure is comparable to the previews of the previous installment, Ghostbusters: Afterlife, which opened during the pre-Thanksgiving 2021 frame amidst lingering Covid fears. The movie also surpassed the previews of the
The global currency markets have been experiencing significant shifts this week as central banks around the world have made unexpected moves in their monetary policies. The dollar has been on a steady rise, despite a rate hike in Japan and a surprise interest rate cut in Switzerland. This divergence in interest rate settings highlights the
The ongoing legal battle between sports merchandise giant Fanatics and sportsbook giant DraftKings has taken a contentious turn. Fanatics has accused DraftKings of distorting reality and engaging in character assassination of its former senior vice president of business development, Michael Hermalyn. The accusations stem from Hermalyn’s move to Fanatics in February to take on the
The potential purchase of TikTok by Kevin O’Leary and his syndicate for a starting bid of $20 billion to $30 billion marks a significant valuation cut of up to 90% from the company’s last funding round. This drastic reduction in valuation raises questions about the true value of the platform and the implications for a
In February, Japan’s core inflation saw an increase, with the core consumer price index rising by 2.8% from a year earlier. This growth was in line with the median forecast of the market and was largely attributed to the base effect from the launch of energy subsidies the previous year. However, a closer look reveals
As A24’s latest dystopian U.S. movie, Civil War, approaches its release date of April 12-14, industry analysts are predicting an opening weekend box office of $18M-$24M. This estimate comes at a time when the film industry is still recovering from the effects of the recent strike, making it difficult to accurately forecast audience turnout. Despite
Cineworld Group, the second largest theater circuit in the world, recently announced the completion of its executive team with the appointment of CEO Eduardo Acuna in 2023. This move comes after the company successfully emerged from bankruptcy, signaling a new era for the entertainment giant. Alongside Acuna, Thomas Song from Dine Brands and Aimbridge Hospitality
Disney’s ESPN, a powerhouse in the world of sports broadcasting, is facing a pivotal moment in its history. For over four decades, the network has relied on increasing cable subscription fees to boost its annual revenue. Starting at less than $1 per month per subscriber in the 1980s, ESPN’s carriage fee has climbed to $9.42