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Nike Shares Fall On Future Order Concerns
Wall Street has been worried about the strength of Nike (NYSE:NKE) as competition in the athletic gear industry has been heating up. Under Armour is the biggest threat to Nike, with Lululemon Athletica and Adidas not far behind. These... More of this article »
Pfizer To Remain Single Company
Pfizer Inc. (NYSE:PFE) announced that it would abandon its plans to divide into two companies and remain a single entity. The company had been considering a breakup for years. Pfizer said in April that it would make a decision on the... More of this article »
Google Releases New Messaging App
Google (NASDAQ:GOOG) announced Allo, its latest messaging app, in May at the Google I/O confab. Now, the app is available for free for iOS and Android phones. Allo looks similar to many other messaging apps already on the market. The... More of this article »
Series Of Viacom Announcements Signal Shift In Focus
Viacom Inc. (NASDAQ:VIAB) interim Chief Executive Tom Dooley has announced that he will depart in November. In his statement to company employees, Dooley said, “After a great deal of reflection and thoughtful consideration, I have... More of this article »
Mylan CEO Set To Testify Before Congress
CEO of Mylan Pharmacueticals (NASDAQ:MYL) Heather Bresch is expected to testify before Congress on Wednesday to defend the company’s controversial price increases. The price of the company’s EpiPens has increased more than... More of this article »
FedEx Raises Income Guidance
FedEx Corp. (NYSE:FDX) predicted that income would rise for the year after seeing the results of its fiscal first quarter. It now expects adjusted earnings to be $10.85 to $11.35 a share for fiscal 2017, compared with $10.80 in fiscal... More of this article »
Increasing Demand Raises Intel’s Fortunes
Increasing demand for personal computers has resulted in Intel Corp. (NASDAQ:INTC) raising its quarterly revenue forecast for the first time in more than two years. Global PC shipments fell less than expected in the second quarter,... More of this article »
United Parcel Service To Hire 95,000 For Holiday Season
United Parcel Service (NYSE:UPS) has announced plans to hire roughly 95,000 workers for the holiday season this year. In a statement, Myron Gray, president of UPS’s U.S. Operations, said, “We’re ready to kick off our annual holiday... More of this article »
Ford Small Car Production Moving To Mexico
Ford Motor Company (NYSE:F) has made an announcement that the company is moving all North American production of small cars from U.S. to Mexico. Ford’s CEO Mark Fields said in a meeting in Dearborn, Michigan, “Over the... More of this article »
Target Expanding Workforce By 70,000 For Holidays
Target Corp. (NYSE:TGT) has announced plans to hire about 70,000 holiday employees this year. The amount is the same figure as each of the past four years for the retailer. All 1,800 Target stores will be hosting dedicated hiring events... More of this article »
Praxair No Longer Seeking Merger With Linde
Praxair (NYSE:PX) is no longer seeking to merge with industrial gases group Linde, according to an announcement made on Monday. The combination would have created the industrial gas industry’s largest player. Linde is the global... More of this article »
Tesla Autopilot Upgrade Coming In Next Two Weeks
Tesla Motors Inc. (NASDAQ:TSLA) has announced that a software upgrade to its Autopilot system will be coming in the next two weeks. The upgrade will help the system improve the use of radar signals to guide Tesla vehicles along roadways.... More of this article »
New Cable Box Rules Proposed By FCC
New rules from the Federal Communications Commission designed to open up the market for television set-top boxes are sure to spark a backlash from large cable companies and other pay-TV providers. Under the plan, pay television providers... More of this article »
Duke Energy No Longer Part Of Norway’s Wealth Fund Portfolio
Duke Energy Corp.’s (NYSE:DUK) environmental record has caused Norway’s sovereign-wealth fund to say it would no longer invest in the Charlotte, N.C.-based utility. In addition to the parent company, the fund also banned investment... More of this article »
Volkswagen Facing Consolidation Of Collective-action Lawsuits In EU
Collective-action lawsuits against Volkswagen AG (VLKAY) over emissions rigging may be consolidated for up to 20 EU states by the European Commission, the European Union’s executive arm. Volkswagen admitted a year ago that it had... More of this article »
Lululemon Beats Revenue Estimates For Second Quarter
Lululemon Athletica Inc. (NASDAQ:LULU) reported revenue for the second quarter that beat the estimates of surveyed analysts. Quarterly revenues jumped 14 percent to $514.5 million, slightly higher than the Zacks Consensus Estimate... More of this article »
Samsung Recalls All Galaxy Note 7 Devices
On Friday morning, Samsung announced that it will recall every Galaxy Note 7 produced to date. According to reports, 1 million Note 7 handsets have been built at this point. The device has been on sale worldwide for just two weeks... More of this article »
McDonald’s USA President To Retire At Years-end
McDonald’s (NYSE:MCD) USA President Michael Andres will retire at the end of the year. The announcement was unexpected. The U.S. is McDonald’s top profit market. Andres said in the company statement, “With the strides we have... More of this article »
Wells Fargo And Amazon End Student Loan Partnership
Wells Fargo (NYSE:WFC) and Amazon.com (NASDAQ:AMZN) have announced an end to the partnership they formed to offer discounted student loans. Wells Fargo Education Financial Services, the bank’s student lending wing, had agreed to... More of this article »
UFC Executive Joe Silva Leaving After Sale
Longtime UFC matchmaker and vice president of talent relations Joe Silva is planning to say goodbye after the sale of the company. Silva worked with the company for more than two decades. Hardcore fans knew he was a silent, but vastly... More of this article »
Apple Ordered To Pay $14.5B By EU
Apple Inc. has been ordered to pay Ireland up to $14.5 billion in unpaid taxes by the European Commission. The commission ruled that the company had received illegal state aid through its tax agreement with Ireland. EU Competition... More of this article »
Threats Result In Closure Of 6 USDA Offices
Six U.S. Department of Agriculture offices across the country were shuttered Tuesday due to anonymous threats against the facilities. The offices in Fort Collins, Colo.; Hamden, Conn.; Beltsville, Md.; Raleigh, N.C.; and Kearneysville... More of this article »
Fitbit Revamps Two Popular Models
Fitbit (NYSE:FIT) unveiled the new Charge 2 activity tracker today, the successor to the popular Charge HR, its best-selling wearable to date. The Charge 2 is the same price as the Charge HR at $149. However, the display on the Charge... More of this article »
Dilma Rousseff Appears Before Brazil Senate Over Impeachment
President Dilma Rousseff faced the Brazilian Senate Monday to answer questions during her impeachment trial. Rousseff is accused of doctoring accounts to hide a budget shortfall ahead of her re-election in 2014. Rousseff was also the... More of this article »
Alphabet Orders Staff Cuts To Google Fiber
Reports have emerged that Alphabet (NASDAQ:GOOGL) CEO Larry Page has ordered staff cuts to Google Fiber as the division has fallen well short of subscriber goals. The unit has reportedly only signed up 200,000 subscribers by the end... More of this article »
Apple Facing Billions In European Back Taxes
The European Commission is expected to levy a judgment against Apple (NASDAQ:AAPL) in the next few months on whether Apple’s tax dealings in Ireland violate European rules. The commission is accusing Apple of striking a sweetheart... More of this article »
Wal-Mart Opens Investigation Into Welspun India
Wal-Mart (NYSE:WMT) has announced that it is reviewing the products and records of Welspun India after a scandal emerged alleging the company was selling linens with incorrect certifications. The supplier has been accused of selling... More of this article »
Syngenta Deal With ChemChina One Step Closer To Completion
The state-owned China National Chemical Corporation, known as ChemChina, announced Monday that it had received clearance for its $43 billion acquisition of Syngenta (NYSE:SYT) from the Committee on Foreign Investment in the United... More of this article »