Dollar General stock plunged 27% on Thursday after the company released second quarter financial results that showed softening consumer demand and prompted a cut to its annual sales and profit forecast. The company’s operating profit decreased by 20.6% to $550 million, while its diluted earnings per share fell 20.2% to $1.70. Its net sales for
One million dollars is a lot of coin, and the number of people who own that equivalent or more in cryptocurrency has surged over the past year. The Crypto Wealth Report 2024 published by Henley & Partners found there are now 172,300 people worldwide who are crypto millionaires, a 95% increase compared to last year,
Artificial intelligence giant Nvidia released its latest second-quarter earnings report on Wednesday, which beat analysts’ estimates as the company’s AI-driven momentum continued. Wall Street expected Nvidia’s earnings per share to come in at $0.64, up 137.5% from last year, while its revenue was estimated to be $28.7 billion, up 112.5% from last year, according to
The market value of Warren Buffett’s Berkshire Hathaway hit $1 trillion for the first time on Wednesday, as the conglomerate became the first non-technology company in the U.S. to reach that threshold. Buffett’s firm joined six other firms in the exclusive $1 trillion market cap club, including Apple, Nvidia, Microsoft, Google parent Alphabet, Amazon and
The group seeking court approval to purchase Red Lobster has selected former P.F. Chang’s CEO Damola Adamolekun to run the faltering seafood chain upon its emergence from Chapter 11 bankruptcy. Fortress Investment Group, which formed RL Investor Holdings, LLC – a new entity planning to acquire Red Lobster – announced the move Monday, pending court
Nvidia is likely to report on Wednesday that its second-quarter revenue more than doubled. But investors used to its blockbuster results will be expecting even more from the artificial intelligence chip giant. A beat or a miss on Wall Street expectations could either stoke or shatter an AI rally on Thursday, a day after Nvidia
The Federal Trade Commission (FTC) on Monday kicked off a trial amid its push to block Kroger’s $25 billion merger with Albertsons by alleging the deal would undermine competition in the grocery store industry and hurt consumers. Kroger and Albertsons first announced the proposed merger in October 2022 and unveiled their divestiture plan in September
Federal Reserve Chair Jerome Powell didn’t disappoint… Wall Street loved it. Vice President Kamala Harris formally accepted the nomination for president at the DNC but her promise to raise corporate taxes isn’t sitting well with everyone. Walmart and Target want your business, and they’re cutting prices to get it. One CEO will add a 1,100+
Consumers in the United States and Canada who buy used Peloton exercise machines will face a “used equipment activation fee.” The fitness company, which reported its fourth-quarter earnings Thursday, revealed it will begin collecting the new one-time fee from people who acquire their Peloton equipment from former owners through secondary sales not conducted by “Peloton-owned
High-end fitness company Peloton seems to be making progress with its turnaround plan, as it reported its first sales increase in nine quarters on Thursday. The company reported that sales rose 0.2% year over year in the fourth quarter. This marked the first year-on-year growth since fiscal year 2022. It is seen as a positive