In a recent note to investors, research firm MoffettNathanson highlighted the growing pressure on Amazon to increase profitability within its retail business. With Amazon Web Services (AWS) currently driving a significant portion of the company’s profits, the analysts predict that the retail operations will need to step up to fill the gap as AWS growth
With the upcoming National Basketball Association season just around the corner, Dallas Mavericks and New Orleans Pelicans fans are eagerly awaiting news on how they will be able to watch their favorite teams play local games. Both teams are parting ways with their regional sports networks owned by Diamond Sports, according to a recent bankruptcy
The Russell 2000 index has been experiencing some volatility recently, with a 10.1% gain in July followed by a 4% drop in August. According to ALPS’ Paul Baiocchi, this turbulence can be attributed to the overall composition of the index. Apollo Global estimates that 40% of the companies in the Russell 2000 have negative earnings.
Edgar Bronfman Jr.’s recent bid for a controlling stake in Paramount Global has significant implications for the future of the company, particularly in relation to Shari Redstone’s potential involvement. If successful, Bronfman’s offer could keep Redstone close to Paramount despite her current role as non-executive chairman. The special committee at Paramount Global is set to
Cava, the Mediterranean restaurant chain, recently reported strong traffic, leading to better-than-expected quarterly earnings and revenue. The company raised its full-year outlook, prompting a 7% rise in its stock in extended trading. With the stock value more than doubling this year, Cava’s market cap now stands at around $11.6 billion. In the quarter that ended
After the closing bell, several companies experienced significant shifts in their stock prices. Cava Group, a fast-casual restaurant brand, saw shares rise by almost 6% following an impressive earnings report. The company exceeded expectations, posting a profit of 17 cents per share, which was 4 cents higher than estimated by analysts. Furthermore, Cava’s revenue also
Portillo’s, a well-known fast casual restaurant chain, has recently come under scrutiny by activist investor Engaged Capital for potential improvements in its business operations. One of the main areas of concern is the company’s large store footprints, which lead to inefficiencies in labor, maintenance, and overall operational expenses. Additionally, the company’s practice of owning its
There is a lot of anticipation surrounding Federal Reserve Chair Jerome Powell’s upcoming policy speech. However, despite the hype, it is unlikely that he will reveal any groundbreaking news. The general consensus in the market is that the Fed will start cutting rates in September and continue to do so throughout the rest of the
The past week on Wall Street saw back-to-back weekly gains with the S&P 500 and Nasdaq both finishing up nearly 1.5%. This positive momentum came after Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole, signaling imminent interest rate cuts. Powell’s remarks led the market to expect significant cuts by the end of the year,
The cost of attending college continues to rise, with some institutions charging nearly six figures a year when factoring in tuition, fees, room and board, books, and transportation. According to The Princeton Review’s “The Best 389 Colleges” list, eight schools have sticker prices of over $90,000 for the 2024-25 academic year, a figure that is