With the return of football season, the sports betting industry is gearing up for what is projected to be a record-breaking year. According to the American Gaming Association, U.S. adults are expected to wager a staggering $35 billion on the NFL this season, marking a significant increase from last year’s numbers. Despite the legalization of
Sports team owners are currently facing a unique set of challenges as team values continue to soar and the average age of owners increases. The pressure to navigate through tax implications and ensure a smooth ownership transition to the next generation is becoming more prevalent in the sports industry. In the National Football League (NFL),
Steph Curry, a four-time NBA Champion, is already setting his sights on life after basketball. In a recent interview with CNBC’s “Squawk on the Street,” the 10-time NBA All-Star discussed his future plans, including his business ventures and aspirations post-retirement. At 36 years old, Curry has established a media company, Unanimous Media, and a youth
CrowdStrike, the cybersecurity software maker, recently reported its fiscal second-quarter results, exceeding expectations in terms of earnings per share and revenue compared to LSEG consensus. The company’s revenue grew by 32% year over year, reaching $963.9 million for the quarter ending on July 31. The net income also saw a significant increase to $47 million,
China’s property market struggles and U.S. sanctions have had a significant impact on many of its cities, as highlighted by the Milken Institute’s best performing cities China index. Hangzhou, the capital of Zhejiang province and home to tech giants like Alibaba, has emerged as a top performer in this year’s rankings. The city’s success can
The stock market has seen a significant shakeup with Nvidia recently losing an alarming $279 billion in market value in a single day. This is the fifth time that the stock has experienced a loss of over $200 billion in market cap in one day, but this latest drop is the most substantial. On Tuesday,
Warren Buffett’s Berkshire Hathaway made headlines as it reached a $1 trillion market capitalization, becoming the first non-technology company in the U.S. to achieve this feat. Despite its old-economy focus, Berkshire’s shares have surged more than 28% in 2024, outperforming the S&P 500’s 18% gain. The company’s market value surpassed the $1 trillion mark just
When cracks begin to show in the labor market, the impact is often felt most strongly by young adults. Recent reports from the Federal Reserve Bank of St. Louis have highlighted a concerning trend – about 16% of 18- to 24-year-olds are neither employed nor enrolled in high school or college, leading to them being
Nvidia’s shares took a hit in U.S. premarket trade recently due to various factors affecting the company’s fiscal second-quarter performance. The company saw a slight dip in its gross margin and, while its revenue beat analysts’ expectations, it wasn’t enough to satisfy the high hopes set by investors. This led to a 4.6% drop in
Ulta Beauty, a popular beauty retailer, recently faced a setback as its shares plummeted by 7% in extended trading due to falling short of second-quarter expectations and trimming its full-year guidance. The company reported a decline in same-store sales, which resulted in its first earnings per share miss since May 2020 and first revenue miss