After a more than 400-point gain on Monday, Dow Jones futures remained relatively unchanged in the hours leading up to Tuesday’s opening. On Monday, shares of Apple (AAPL) and Tesla (TSLA) fell further, adding to their recent losses, while shares of artificial intelligence company Palantir Technologies (PLTR) initially fell on a sales miss before recovering and rising.
The American consumer debt crisis continues to worsen. From May to June, Americans borrowed nearly $17.9 billion in new data from the Federal Reserve shows. Seasonally adjusted, consumer credit grew by 4% in the second quarter. Paying off credit card debt is taking longer for Americans, according to a new survey by Bankrate.
Anheuser-Busch InBev has agreed to sell eight of its craft beer brands to Tilray Brands in a massive all-cash transaction. Once the agreement is finalized later this year, Tilray, the Canadian cannabis company that is quickly shedding that solo image, will have acquired the following brands.
On Monday, the doors will open to Western New York’s first online cannabis delivery platform, following the state’s legalization of recreational weed more than two years ago.
Canterra, an online marketplace for recreational marijuana, has announced that it will begin accepting orders on Monday, with deliveries starting on Friday, August 11.
Palantir Technologies (PLTR) stated on Monday that its profit and revenue for the second quarter met analyst projections, adding to the recent interest in artificial intelligence companies. After PLTR announced a $1 billion repurchase, the stock price jumped.
On Monday, PayPal added a U.S. dollar-backed stablecoin to its portfolio of crypto services in order to ease payments. This is the first time a big American bank has done something like this.
The stock price of Warren Buffett’s conglomerate Berkshire Hathaway (BRKa.N) hit a new high on Monday, increasing by 3.4% after the company reported a quarterly operating profit of more than $10 billion. Berkshire reported a profit of $147.4 billion, or 2.3% of total revenue, from its fixed-income investments during the second quarter as interest rates rose.
Almost 3,000 jobs will be lost as a result of Tyson Foods (TSN.N) closing poultry processing factories in Arkansas, Indiana, and Missouri in an effort to reduce costs.
The company Zoom, which helped fuel the telecommuting revolution during the pandemic, has ordered its workers to return to the workplace. According to a statement released by Zoom, the company is now mandating a “structured hybrid approach,” which means that workers who are geographically close to an office “need to be onsite two days a week” in order to be the “most effective” for the video conferencing service.
The private equity firm KKR has agreed to purchase Simon & Schuster from Paramount.
For $1.62 billion, a financial buyer will gain control of a cultural icon.
After hearing that CFO Zachary Kirkhorn was leaving Tesla after four years on the job and thirteen overall, the stock dropped by 1%. Vaibhav Taneja, currently the Chief Accounting Officer, will assume the position.
Increasingly, the focus of Meta is on artificial intelligence rather than the Metaverse. Despite maintaining its emphasis on Reality Labs and the Metaverse, the corporation is also looking to artificial intelligence (AI) as a growth driver.
With a $14 billion tender offer, Toshiba will be taken private. Private equity firm Japan Industrial Partners is attempting to buy out activist investors and return the Japanese industrial behemoth to domestic hands, which means the company will be taken private.
According to those in the know, Warner Bros. Discovery plans to release a sports tier for its Max streaming service in time for the start of the Major League Baseball playoffs. Max will carry simultaneous broadcasts of Major League Baseball, National Basketball Association, National Hockey League, and National Collegiate Athletic Association games, including the NCAA men’s and women’s basketball tournaments.
On Tuesday, earnings will be announced by over 400 companies, including UPS, UAA, TWLO, SFTBY, AMC, BLNK, and LYFT.
On Wednesday, the following stocks will be releasing earnings: DIS, RBLX, XPEL, APRN, SONO, UHAUL, and 290 more.
On Thursday, earnings will be released for 193 companies, including NVO, BN, BABA, and SFT.
Friday will see results announcements from EMRAF, SPB, CEPU, VISL, RWLK, AIRS, and 16 more stocks.
Stocks to watch with positive momentum this week. SNDL, WMT, AMZN, META, GRPN, MSFT, GOOGL, eBay, AAPL, PYPL , BLNK
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