Several firms reported dismal profits at the beginning of August, leading to a downward close for the S&P to begin the month. JetBlue was one of the airlines that issued a warning, saying that domestic air traffic will be slowing down.
To put it simply, Uber turned a profit. Due to expansion in its core businesses, the notoriously loss-making ride-hailing company turned a profit for the first time in the second quarter of this year. Since 2014, $31.5 billion in operating losses have been incurred.
Taylor Swift is wrapping off her Eras Tour in the United States, and she has been rewarding the tour’s staff with sizable bonuses. She allegedly paid hefty bonuses to the truck drivers who transported her equipment across the country. It has just been announced that Taylor Swift has paid out $55 million in incentives to the entire crew of her massively successful Eras Tour.
The wealthy of California frequently gripe about the state’s high tax rates. From the end of 2019 to the end of 2021, the state gained about 116,000 new millionaire taxpayers.
In spite of growing pricing, consumers remain committed to takeaway as seen by a record number of orders placed with DoorDash Inc. in the second quarter.
On Tuesday, three of Lizzo’s former dancers filed a complaint against the singer, accusing her of sexually harassing them and creating a hostile work environment. One of them, they say, was even coerced into touching a nude dancer at a club in Amsterdam.
The case over Dua Lipa’s smash single “Levitating” continues. Los Angeles musician Bosko Kante has filed a multi-million-dollar copyright lawsuit against the celebrity and Warner Music Group over the tune.
On Tuesday, GM announced a global recall of nearly 900 vehicles due to the possibility that the air bag inflator, manufactured by Takata, might explode, sending sharp metal pieces flying at the driver or passengers within.
Bloomberg reports that despite rumors that Apple and Goldman Sachs are on the verge of splitting up, the two companies have announced that $10 billion in US deposits have been made to their new high-yield savings account.
KFC and Taco Bell parent company Yum! Brands (NYSE:YUM) beat estimates for the second quarter with earnings per share of $1.41. The company’s same-store sales grew by 9%, which was a major highlight of the report. Particularly impressive was KFC’s 13% increase in same-store sales, the greatest of any of YUM’s brands.
Federal Prosecution of Bankman-Fried: Former FTX CEO Bankman-Fried’s legal team has argued that the Department of Justice’s decision to revoke bail is baseless. The defense claims there is no real proof to support these charges and that they are entirely speculative.
Advertisements can now be seen on the TV wall in the electronics section, in-aisle screens, and self-checkout monitors at Walmart (WMT).
Amazon (AMZN) is now offering Fresh grocery delivery to those who aren’t Prime members. Twelve major cities, from Charlotte, North Carolina, to San Diego, California, will have access to the service.
Unity (NYSE:U), a provider of game engines, published Q2 FY2023 earnings that were above the expectations of Wall Street analysts, with sales jumping 79.6% year over year to $533.5 million. The company forecasts revenue of $545 million for the coming quarter, which is in line with analysts’ forecasts.
Instagram is working on metadata tags for AI-generated posts. The forthcoming function will label content as “created or edited with AI” when it has been so. After Meta and its competitors made assurances to the White House about the responsible development of artificial intelligence (AI), a user uncovered hints regarding the feature.
X, a social networking platform formerly known as Twitter, now offers a feature where verified accounts can be hidden from view for a fee. With the release of Twitter Blue last year, the Elon Musk-owned firm offered sponsored verification. As part of a larger rebranding effort, the service’s name was changed to XBlue.
Apple (AAPL), Amazon (AMZN), Amgen (AMGN), Anheuser-Busch InBev (BUD), ConocoPhillips (COP), Booking Holdings (BKNG), Opendoor Technologies (OPEN), and Wayfair (W) will all report earnings on Thursday, August 3. “Amazon’s crown jewel, AWS, continued to shine,” said Seeking Alpha analyst Jaime Galvin, “but growth and margins now look to be decelerating sharply.”
Stocks to watch this week. BUD, OPEN, W, SNDL, WMT, AMZN, META, GRPN, JPM, MSFT, GOOGL, eBay, AAPL, TSLA, PYPL
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