The Asian suppliers of Apple Inc, such as Taiwan’s TSMC and Hon Hai Precision Industry, experienced a significant drop in their stock prices amidst concerns over the decline in iPhone sales. The market reacted negatively, with TSMC and Hon Hai Precision Industry recording a 1.5% and 1.9% decrease in their stock prices, respectively. Similarly, AAC
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In a time where studios were experimenting with different release strategies due to the Covid-19 pandemic, Universal took a gamble on Christopher Nolan’s World War II-set film, Oppenheimer. Despite initial skepticism about the movie’s potential, Universal decided to invest $100 million in the production. The decision to open Oppenheimer in theaters rather than opt for
In a surprising move just prior to releasing their first-quarter earnings report, Google announced that it would be letting go of about 200 employees from its “Core” teams. This reorganization will involve transferring some roles to India and Mexico, a decision that has raised eyebrows within the tech industry. The Core unit is crucial for
Hotel giant Marriott International (NASDAQ:MAR) has recently increased its annual adjusted profit forecast following a mixed performance in the first quarter. Despite weakening trends in North America, Marriott is relying on the surge in international travel demand to drive its full-year profit. The company anticipates a significant boost in revenue per available room (RevPAR) from
Following the news of CEO Elon Musk’s decision to cut jobs in Tesla’s Supercharger team, the company’s shares plummeted nearly 6% on Tuesday, closing at $183.28. This drop marked a 26% decrease for the year, signaling investor concerns about the company’s future direction and financial stability. According to reports, Musk informed managers at Tesla about
Amazon.com recently reported quarterly results that surpassed Wall Street’s expectations. The company’s focus on artificial intelligence has been a significant factor in driving growth in its cloud-computing division. Despite the impressive performance, Amazon’s current-quarter revenue forecast fell short of expectations, causing a slight dip in the stock price during the regular session. Chief Financial Officer
Amazon surprised investors by beating both top and bottom-line expectations in their recent earnings report. Earnings per share came in at 98 cents, surpassing analysts’ forecasts of 83 cents. Revenue also exceeded expectations at $143.31 billion. Despite this positive outcome, the company’s second-quarter revenue forecast fell short of estimates. On the other hand, Starbucks disappointed
Amazon recently reported its first-quarter earnings, surpassing expectations with both its earnings per share and revenue figures. The company’s revenue of $143.3 billion exceeded the forecasted $142.5 billion, while its earnings per share of 98 cents outperformed the expected 83 cents. The stock market reacted positively to the news, with Amazon’s stock price rising during
The rapid advancement of technology has brought about both positive and negative effects on various industries, including the publishing industry. Recently, eight U.S. newspaper publishers filed a lawsuit against Microsoft and OpenAI, alleging that their articles were being used without permission in AI products. This has raised concerns about the impact of artificial intelligence on
Eli Lilly recently announced a significant increase in its annual sales forecast due to explosive demand and increased manufacturing capacity for its weight-loss drug Zepbound. This development has driven the company’s shares to rise nearly 6% in value. The company expects to see substantial production increases in the second half of the year for its
Australia’s Coles, one of the top supermarket operators in the country, has recently highlighted deflation in its fresh produce and meat products. This comes at a time when the overall cost of living crisis in Australia has been exacerbated by persistently high inflation rates. The moderation in price rises across its packaged categories reflects the
In recent years, the landscape of movie distribution has undergone significant changes, especially with the rise of eventized movies such as concert films. With the onset of the Covid-19 pandemic, studios began to embrace the theatrical day-and-date model as cinemas closed. However, the realization that theatrical releases bring in more profits and downstream revenues became
The recent ruling by U.S. District Judge Zahid Quraishi in Trenton, New Jersey, to uphold the law requiring drug manufacturers like Bristol Myers Squibb and Johnson & Johnson to negotiate prices of their blood clot prevention drugs with the U.S government’s Medicare program has sparked controversy in the pharmaceutical industry. Despite the drug companies’ arguments
Wall Street experienced a day of volatile trading on Monday as investors awaited the Federal Reserve’s upcoming interest rate decision. Key players like Tesla and Apple saw gains in their stock values, propelling the consumer discretionary sector upwards. While Tesla shares climbed due to regulatory approvals for self-driving tech in China, Apple surged following reports