StubHub filed to go public on the NYSE under the ticker “STUB” after reporting a $2.8 million net loss on $1.77 billion in revenue for 2024. The ticket resale platform, founded in 2000, was acquired by eBay in 2007 and later bought back by co-founder Eric Baker in 2020 for $4 billion. StubHub had postponed its IPO last year due to market conditions but is … Continue reading StubHub files for IPO as companies start lining up to go public

FedEx (FDX) lowered its fiscal 2025 profit outlook again after reporting Q3 earnings slightly below expectations. EPS rose 17% to $4.51 on $22.2 billion in revenue, missing analyst forecasts of $4.56 EPS but exceeding revenue estimates of $21.87 billion. The company now expects fiscal 2025 EPS between $18 and $18.60, down from prior guidance of $19 to $20, Investor’s Business Daily has reported. CFO John … Continue reading FedEx Downgraded After Earnings

Nike’s shares dropped sharply Friday as investors questioned CEO Elliott Hill’s turnaround strategy after the company warned of a deeper sales decline. Nike reported a 9% drop in holiday quarter sales, including a 17% slump in China, and projected mid-teens percentage declines for Q4, worse than expected. The company blamed weak demand, new China tariffs, and external uncertainties. Nike is reversing past retail strategies, bringing … Continue reading Nike shares plunge after sneaker giant warns sales could fall by double digits

Boeing’s cash burn is easing, and factory performance is improving, with plans to boost aircraft deliveries, CFO Brian West said Wednesday. Shares rose nearly 7% after his comments. Despite last year’s $14 billion cash outflow and production setbacks, West expects improvement in the “hundreds of millions” this quarter. The company remains under FAA restrictions on 737 Max production following a January 2024 safety incident, CNBC … Continue reading Boeing shares jump after CFO gives upbeat outlook, says cash burn is easing

Ben & Jerry’s has accused parent company Unilever of firing CEO David Stever for supporting its progressive politics, violating merger agreements that granted the brand control over its social mission. The complaint, filed in U.S. District Court, alleges Unilever suppressed Ben & Jerry’s activism, including Black History Month posts and statements on Gaza and Palestinian activist Mahmoud Khalil. Unilever, expected to seek dismissal, has clashed … Continue reading Ben & Jerry’s accuses parent company of firing its CEO over the brand’s politics

Amtrak CEO Stephen Gardner is stepping down amid calls for privatization from DOGE head Elon Musk. Gardner, CEO since 2022, served 16 years at Amtrak. Musk criticized Amtrak’s performance, advocating for privatization to improve efficiency. Despite record ridership of 32.8 million passengers and $2.5 billion in ticket revenue in fiscal 2024, Amtrak reported a $635 million operating loss. The company rejected privatization claims, citing its … Continue reading Amtrak CEO stepping down

The Federal Reserve held interest rates steady but signaled potential cuts later in the year. The benchmark rate remains at 4.25%-4.5%, unchanged since December. Despite concerns over tariffs and slowing growth, officials project two rate cuts by 2025. The Fed also adjusted its bond-reduction strategy, slowing the pace of quantitative tightening. Inflation expectations rose slightly, and economic growth projections were downgraded to 1.7% for 2024. … Continue reading Fed holds interest rates steady, still sees two cuts coming this year

Trump recently signed an executive order creating a digital reserve backed by approximately 200,000 seized bitcoins, worth around $17 billion, which crypto chief David Sacks has called “a digital Fort Knox.” This reserve, funded by seized bitcoins, aims to stabilize the U.S. economy and potentially support the U.S. dollar. Bitcoin’s value has been volatile, with prices recently surpassing $3,000 per ounce, while some analysts suggest … Continue reading Trump’s bitcoin reserve a ‘digital Fort Knox’

The national average wholesale price of eggs dropped for the third consecutive week, falling to $4.15 per dozen from $8.05 just two weeks ago, due to reduced demand and a lull in bird flu outbreaks. The USDA reports that high egg prices had previously decreased consumer demand, while slower avian flu outbreaks improved supply. However, these price drops have not yet reached store shelves. The … Continue reading National average wholesale price of eggs drops for 3rd week in a row

Treasury Secretary Scott Bessent emphasized that the Trump administration is focused on the long-term health of the economy, not short-term market fluctuations. He dismissed concerns about recent volatility, stating that the goal is to create an environment for sustained market and economic growth. Bessent acknowledged market turmoil driven by Trump’s tariffs but expressed confidence that proper policies will lead to long-term gains in income, jobs, … Continue reading Bessent says White House focused on ‘real economy’ not concerned about ‘a little’ market volatility

Consumer sentiment dropped in March, with the University of Michigan’s survey showing a 10.5% decline to a mid-month reading of 57.9, the lowest since November 2022. Concerns over inflation and a falling stock market, compounded by President Trump’s tariffs on aluminum, steel, and European goods, fueled the drop. The expectations index fell sharply, while the one-year inflation outlook increased to its highest level since November … Continue reading Consumer sentiment slumps in March to lowest since 2022

Gold prices have reached a record $3,004.86 per ounce, driven by a 14% increase since the start of 2025. Economic uncertainty from the ongoing US trade war and fears of inflation due to tariffs have made gold a sought-after safe asset. Tariffs, like the US’s threats on EU alcohol and Chinese imports, are raising costs for businesses and consumers, further fueling demand for gold. Central … Continue reading Gold price hits $3,000 as trade tensions mount

Walmart is clashing with China over efforts to offset tariffs imposed under Trump, pressuring suppliers to absorb costs. Chinese officials criticized the move, warning of potential consequences. Walmart, which sources 60% of its shipments from China, risks price hikes in key markets but has leverage as a major buyer, Axios has reported. The retailer offered to work with suppliers to minimize damage, but tensions remain … Continue reading Walmart clashes with China after asking suppliers to absorb tariffs

February’s Consumer Price Index (CPI) showed inflation easing, with prices rising 2.8% annually, down from January’s 3% increase and below forecasts. Monthly inflation slowed to 0.2%, signaling a cooling trend. Core inflation, excluding food and gas, rose 3.1% year-over-year, the lowest since April 2021. Shelter costs, a key driver, continued to decline, while gas prices dropped 1%. Food price growth slowed, but egg prices surged … Continue reading CPI inflation data cools in February, easing investor fears about the health of the US economy

Intel appointed Lip-Bu Tan as its new CEO, replacing interim co-CEOs David Zinsner and MJ Holthaus after Pat Gelsinger’s turbulent tenure. Tan, former CEO of Cadence Design Systems and an ex-Intel board member, aims to revitalize the company amid declining sales and AI struggles. Intel’s stock surged 12% on the news. The company has faced mounting investor pressure, costly chip production plans, and competition from … Continue reading Intel appoints Lip-Bu Tan as CEO to orchestrate turnaround

Tesla’s stock plummeted 15% on Monday, marking its worst day since September 2020, following a seven-week losing streak. Shares have dropped more than 50% since December, losing over $800 billion in market value. The sell-off was linked to uncertainty about President Trump’s tariff plans, which could raise production costs. Additionally, Tesla is facing brand damage from CEO Elon Musk’s political involvement, controversial statements, and reports … Continue reading Tesla shares plunge 15%, suffering steepest drop in five years

Delta Air Lines lowered its first-quarter revenue and profit forecasts due to weaker domestic demand, reflecting broader concerns about the travel industry’s sales slowdown. Delta now expects revenue to rise only 5% from last year, down from its previous forecast of 6% to 8%. Its adjusted earnings forecast was also reduced to 30-50 cents per share, from 70 cents to $1. The company cited reduced … Continue reading Delta Air Lines slashes earnings outlook on weaker U.S. demand

US stocks dropped sharply on Monday, with the Dow falling 890 points (2.08%), the S&P 500 losing 2.7%, and the Nasdaq dropping 4%. The selloff, spurred by concerns over President Trump’s economic policies, marked the worst day of the year for the Dow and S&P 500 and the Nasdaq’s biggest decline since September 2022. Investor anxiety was fueled by Trump’s remarks on tariffs and the … Continue reading Dow falls by almost 900 points in market rout

Federal Reserve Chairman Jerome Powell stated that the central bank is taking a cautious approach, waiting to see the effects of President Trump’s policy actions before making further moves on interest rates. Powell emphasized the uncertainty surrounding Trump’s proposals on trade, immigration, fiscal policy, and regulation, which could impact the economy. While markets anticipate interest rate cuts, Powell suggested the Fed will remain patient, as … Continue reading Powell says Fed is awaiting ‘greater clarity’ on Trump policies before making next move on rates

The Justice Department is investigating whether major egg producers, like Cal-Maine Foods and Rose Acre Farms, are conspiring to keep egg prices high amid the worsening bird flu outbreak. The investigation is in its early stages, with concerns that the companies are exploiting the crisis to inflate prices beyond necessary costs. In January, egg prices hit a record high, reaching $4.95 per dozen. Agriculture Secretary … Continue reading DOJ opens investigation into egg companies for price-fixing

Commerce Secretary Howard Lutnick assured Americans that there would be no recession, citing President Trump’s plans to implement reciprocal tariffs on foreign goods to boost the U.S. economy. While some foreign goods may become more expensive due to these tariffs, Lutnick predicted that American products, especially agricultural goods, would become cheaper. Trump also confirmed that these tariffs would take effect on April 2 and that … Continue reading Commerce Secretary Howard Lutnick says ‘there’s going to be no recession in America’

Joseph Neal Sanberg, founder of the climate-focused banking startup Aspiration, was arrested for allegedly defrauding investors of $145 million. His co-conspirator, Ibrahim Ameen AlHusseini, pleaded guilty to wire fraud and admitted to falsifying financial statements to support the scheme. Sanberg, a Democratic donor with celebrity investors like Leonardo DiCaprio and Drake, allegedly misled investors using Aspiration shares as collateral. Federal authorities are also investigating the … Continue reading Fintech exec arrested for allegedly defrauding investors out of $145M

A record 4.8% of Americans took hardship withdrawals from their 401(k)s in 2024, up from 3.6% in 2023, signaling growing financial strain, according to Vanguard. The most common reasons were preventing foreclosure and covering medical bills. The rise is partly due to expanded automatic enrollment in retirement plans and relaxed withdrawal rules. While hardship withdrawals offer emergency relief, they come with penalties and permanently reduce … Continue reading More Americans tapping 401(k)s to pay for financial emergencies

Auto loan delinquencies have hit a 30-year high, with 6.56% of subprime borrowers at least 60 days behind on payments in January, according to Fitch Ratings. Rising car prices, high borrowing costs, and inflation are driving more repossessions, while serious delinquencies (90+ days) reached 3% in Q4, the highest since 2010. The economic slowdown, Trump’s trade wars, and financial strain on lower-income borrowers are fueling … Continue reading Americans Behind on Car Payments at Highest Rate in Decades

Job cuts surged in February, reaching 172,017—the highest in nearly five years—driven by Trump’s push to shrink the federal workforce. Federal layoffs totaled 62,242 across 17 agencies, partly due to Elon Musk’s efforts with Trump’s support. Retail and tech sectors also saw major cuts, with Macy’s and Forever 21 leading retail layoffs. Despite concerns over trade wars and government downsizing, some companies announced 34,580 new … Continue reading Layoff announcements soar to the highest since 2020