Warner Bros. Discovery had a very Merry Christmas indeed with the release of their latest film, “The Color Purple.” The movie made a splash at the box office, raking in an impressive $18.15 million on its Christmas Day opening. This achievement marks the highest Christmas Day opening since 2009 and the second-largest Christmas Day opening
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Nike, one of the leading athletic apparel makers, faced a significant blow recently as its shares plunged following a cut in its revenue outlook for the fiscal year. This not only affected Nike but also had implications for sneaker retailer Foot Locker, which heavily depends on Nike products in its stores. The market response was
After weathering a tumultuous period due to the ongoing COVID-19 pandemic and supply chain disruptions, the U.S. automotive industry is anticipating a slight increase in new vehicle sales in 2024. Forecasts from various automotive data firms suggest a year-over-year growth ranging from 1% to 4%, leading to an estimated total of 15.6 million to 16.1
In the midst of dropping interest rates, mortgage demand has surprisingly fallen in the last week, as reported by the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages also decreased, reaching its lowest level since June 2023. However, the response from borrowers has been lackluster, with applications to
In a disappointing turn of events, FedEx shares plunged more than 9% in after-hours trading on Tuesday. This steep decline came after the renowned package delivery giant revised its revenue forecast due to a significant decrease in demand, ultimately impacting its sales. Previously anticipating flat sales year over year, FedEx now expects a low-single-digit decline
The recent attacks carried out by Iran-backed Houthi militants on ships in the Red Sea have had a significant impact on global trade. These attacks have caused major shipping lines and oil transporters to suspend their services through the Red Sea, leading to disruptions in the shipment of goods and fuel. As a result, there
In a move to adapt to the changing landscape of work, Citigroup has recently announced its remote work policy for the final two weeks of December. According to undisclosed sources, the majority of Citigroup’s 240,000 employees, who are considered hybrid workers, have the option to work remotely from Monday to Friday during this period. While
General Motors’ Cruise has recently faced a series of setbacks, including layoffs and safety concerns, which have put the future of the robotaxi startup in question. This article will analyze the current state of Cruise and its implications for the company’s future prospects. Cruise announced internally that it will lay off 900 employees, constituting 24%
Etsy, the renowned e-commerce platform known for its handmade items and connections with local artisans, is facing significant challenges as it navigates a “very challenging” macro and competitive environment. In response to these difficulties, the company has made the difficult decision to lay off approximately 11% of its workforce, amounting to around 225 employees, during
Creators and fans of Netflix can rejoice as the streaming giant finally opens up about its viewership statistics. In a bold move, Netflix released its first “What We Watched” report, providing insights into the popularity of its shows and movies over the past six months. This groundbreaking transparency marks a significant shift for the company,