Warner Bros Discovery’s shares dropped 12% in premarket trading after announcing a $9.1 billion write-down and a $10 billion net loss, reflecting their ongoing struggles to keep up with other giant media.
Firm Management
Walmart Reports 4.8% Revenue Growth, Driven by Rising Consumer Spending
Walmart's Q2 revenue hit $169.34 billion, exceeding expectations, with a 4.8% increase from last year and a 9.8% rise in adjusted earnings per share.
Taiwan's Foxconn Sees $1.09 Billion in Q2 Following Booming AI Server
Foxconn's second-quarter profit rose 6%, driven by strong demand for AI servers and next-generation computing solutions.
Starbucks Hires Crisis-Management Expert Brian Niccol as CEO Due to Sagging Sales
Brian Niccol, known for his crisis management skills in the fast-food industry, has been appointed CEO of Starbucks, boosting the company's stock value by $21 billion in one day.
Bharti Acquires 24.5% Stake in BT for $4 Billion, Strengthening 5G, AI Collaboration
Bharti, the parent company of Airtel, has become British Telecom (BT)'s largest shareholder by acquiring a 24.5% stake for $4 billion to strengthen 5G and AI collaboration.
Latest News
By January 2025, the EU's Digital Operational Resilience Act (DORA) will enforce stringent IT security standards for banks and their technology suppliers to boost cyber resilience and manage third-party risks.
Apple may charge up to $20 for its upcoming AI features from "Apple Intelligence," to boost its services revenue and deepen user engagement as the AI sector becomes more expensive.
Despite ongoing losses of over $1 billion, Rivian Automotive exceeded Wall Street's revenue and earnings estimates for Q2 2024 through cost-cutting measures.
Recent Highway Loss Data Institute research shows that Hyundai and Kia's software upgrades have cut vehicle theft rates by 64% since February 2023.
Disney exceeded expectations in Q3 report, achieving its first profit from combined streaming services and reporting earnings per share of $1.39, despite challenges in its parks and experiences segment.
Yum Brands fell short of revenue expectations in the second quarter as Pizza Hut and KFC struggled with declining same-store sales, while Taco Bell saw a 5% increase.
Tech giants in the US lost approximately $1 trillion in market value this week due to recession fears and disappointing economic data, with sharp declines in Nvidia, Apple, and Amazon.
CrowdStrike denies responsibility for Delta Air Lines' extended IT outage, arguing that the airline mismanaged the situation and contributed to a misleading narrative about the incident.
Aerospace industry veteran, Robert "Kelly" Orberg is Boeing's new CEO, effective August 8, 2024, replacing David Calhoun after a $1.4 billion loss in the second quarter and ongoing regulatory issues.
