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
Recently, Turkey and the Gulf Cooperation Council (GCC) have taken a significant step towards strengthening their economic ties by signing a deal to initiate negotiations for a Free Trade Agreement (FTA). This move comes after years of strained relations and signals a new era of diplomatic relations between Turkey and Gulf countries, particularly the United
Micron, the semiconductor manufacturer, saw its shares soar by 16.5% in premarket trading following the release of its fiscal second-quarter earnings report. The company reported earnings of 42 cents per share on $5.82 billion of revenue, surpassing the expectations of analysts. Micron also provided a positive outlook for its third-quarter earnings and revenue, leading to
On Thursday, JPMorgan shocked investors by lowering its price target for Pinduoduo Inc. (NASDAQ:PDD) from $195 to $190. Despite maintaining an Overweight rating, this move raised concerns among stakeholders about the future performance of the leading Chinese e-commerce platform. The adjustment came on the heels of Pinduoduo’s fourth-quarter earnings report, which showed solid growth but
Elon Musk’s brain-chip startup, Neuralink, made headlines with its livestream of the first patient successfully implanted with a chip that allows him to play online chess using only his mind. The patient, Noland Arbaugh, who was paralyzed below the shoulder after a diving accident, was able to control a computer cursor and keyboard using the
A bipartisan group of U.S. lawmakers recently sent a letter to the Biden administration, urging them to impose higher tariffs on Chinese drones, as well as drones shipped from other countries. The lawmakers, including Representative Mike Gallagher and Democrat Raja Krishnamoorthi, expressed concerns about the national and economic security threats posed by Chinese drone manufacturers