Hershey’s stock saw a significant drop of 7% in premarket trading after the company’s second-quarter results fell short of analyst expectations. Despite earning $1.27 per share on revenue of $2.07 billion, the company missed the projected profit of $1.43 per share on revenue of $2.31 billion. This decline was attributed to consumers pulling back on
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Eli Lilly’s weight loss drug Zepbound has shown promising results in patients with a common type of heart failure and obesity, based on late-stage trial data released by the company. The findings suggest that Zepbound, along with other popular GLP-1 drugs, may have health benefits beyond weight loss and blood sugar regulation. This could potentially
Moderna, a prominent biotech company, recently reported second-quarter revenue that exceeded expectations. However, the company decided to reduce its full-year sales guidance due to various factors such as lower expected sales in Europe, a competitive environment for respiratory vaccines in the U.S., and the potential for deferred international revenue into 2025. The company now anticipates
In an unprecedented move, a Chinese property developer in Nanjing is returning the deposits paid by homebuyers for apartments in a project that could not be completed. The initiative, coordinated by local authorities, marks the first of its kind in China and has the potential to set a precedent for other cities and developers facing
Billionaire investor Bill Ackman made the surprising decision to cancel the launch of Pershing Square USA just days before it was scheduled to begin trading on the New York Stock Exchange. This move came after he had downsized the initial public offering (IPO) plans twice in a single week due to various issues. Ackman cited
Meta, formerly known as Facebook, has been investing heavily in artificial intelligence (AI) with hopes of driving revenue growth in the future. The company’s CEO, Mark Zuckerberg, has been vocal about the positive impact AI has had on Meta’s performance in the digital advertising market. With the recent second-quarter earnings report showing better-than-expected results, it’s
When Donald Trump, the Republican nominee for president, received support from a portion of the tech investing world, a significant number of venture capitalists immediately rallied behind Vice President Kamala Harris, the likely Democratic nominee. Over 100 VCs joined forces to endorse Harris as she gears up for the November election. This group, known as
Bill Ackman’s hedge fund, Pershing Square USA, recently withdrew its plans for an initial public offering due to what appeared to be a lack of investor demand. This decision came shortly after the fund announced its intention to raise $2 billion, a significant decrease from the previously speculated $25 billion. Despite the setback, Ackman expressed
The Federal Reserve recently made the decision to leave interest rates untouched, despite acknowledging progress in key economic indicators. The Federal Open Market Committee (FOMC) decided to keep the benchmark rate within a range of 5.25% to 5.5%. This decision comes after a period of keeping rates steady, allowing time for data assessment to inform
As of Tuesday, the recall of Boar’s Head products has escalated to encompass a staggering 7 million additional pounds of deli and poultry items in a fatal multistate epidemic of listeria. This outbreak has afflicted 34 individuals in 13 states, resulting in 33 hospitalizations and two deaths in Illinois and New Jersey. The deli meat
The Federal Reserve is poised to keep interest rates steady following a two-day policy meeting, with indications pointing to the possibility of a cut in borrowing costs in the near future. Investors are optimistic about a rate reduction occurring at the September 17-18 meeting, with discussions revolving around whether the Fed will opt for a
The 2025 Ford Maverick pickup truck has undergone a significant redesign, incorporating a host of new features and improvements. One of the notable updates is the refreshed exterior and interior styling, giving the vehicle a modern and sleek appearance. Moreover, the introduction of a 13.2-inch center touchscreen adds a touch of luxury and convenience to
German airline Lufthansa is facing a challenging third quarter, with expectations of lower earnings due to falling yields and increasing unit costs. The aviation industry in Europe is experiencing a flattening demand, leading to setbacks for airlines dealing with rising costs and limited availability of aircraft. Airfares in both Europe and Asia have plateaued or
Marvel Studios and Disney’s latest release, Deadpool & Wolverine, is proving all the naysayers wrong by raking in an impressive $24M on a Tuesday, matching its performance from the previous day. This brings the total domestic earnings for the R-rated film starring Ryan Reynolds and Hugh Jackman to an astounding $259.8M. Deadpool & Wolverine continues