Shares of Blue Apron plunged Thursday after the meal-kit delivery company said during its earnings call that it was encountering unexpected costs tied to starting up a new facility. These costs, as well as further cuts in marketing spending, will likely result in more losses in the second half of the year. Blue Apron now
Department store operator Kohl’s on Thursday reported quarterly earnings and sales that topped Wall Street estimates, as the retailer rung up more purchases than expected in July, the final month of the period. Kohl’s reported a narrower, 0.4 decline in same-store sales, compared to a drop of 1.8 percent during the same quarter last year.
Shares of Blue Apron plummeted Thursday after the company said it was encountering unexpected costs tied to the start up of a new plant in New Jersey. The stock opened trading Thursday down 17 percent. As a result, the meal kit-delivery company said it plans to offset these expenses by reining in marketing spending. Blue
With new CEO Jeff Gennette at the helm, Macy’s showed some signs Thursday of attaining his goal of returning to growth in same-store sales. Macy’s reported that second-quarter sales comps — including those made in departments licensed to third parties — fell 2.5 percent, but that was better than the 3.2 percent decline expected by
The most recent big Mega Millions win — $536 million in July 2016 — was the third largest in the game’s history, and the seventh largest in any U.S. lottery. It was the most ever awarded to a single Mega Millions winner, and the highest cash-value jackpot awarded to a single winner in a U.S.
Animal rights group PETA U.K. swiftly condemned the decision by the central bank to continue using polymer, and advocated a boycott of the banknotes by consumers. “There’s no need for tallow, and the Bank of England has failed to balance the books by investing in a non-animal bank note component that would please everyone,” Elisa
21st Century Fox announced fourth-quarter earnings that beat expectations and revenue that narrowly missed. Here’s how the company did compared with what Wall Street expected: EPS: 36 cents vs. 35 cents, according to Thomson Reuters Revenue: $6.75 billion vs. $6.77 billion, according to Thomson Reuters The company’s earnings fell to 36 cents per share from
Mylan’s stock bounced back in midday trading Wednesday from lower-than-expected second quarter earnings after the company’s management said its generic drug Advair is not being delayed by further FDA-required studies. After shares of the drug-maker dropped as far as 8 percent in premarket trading, Mylan’s CEO Heather Bresch clarified on a call with investors that
The company also announced that it will no longer stream its movies on Netflix starting in 2019. Disney instead plans to launch in 2019 a direct-to-consumer streaming service, which will host its films exclusively. In a Tuesday interview with CNBC’s Julia Boorstin on “Closing Bell,” Iger said that Disney has “no plans” to pull Marvel
The 10-year period began January 1, 2008, which means we are in the final year of the challenge. While we don’t know the funds selected by Protégé, we do have a nine-year performance update — and it’s not pretty. The hedge fund portfolio is up just 22 percent over nine years. That’s slightly better than
Whether to raise taxes on the rich is one of the thorniest issues in tax reform. Underlying that debate is an even more fundamental question: Who exactly qualifies as wealthy? Everyone can agree that Jeff Bezos and Bill Gates are pretty stinking rich. Those earning at least $1 million in income seem to be a
When I advise my clients about their retirement, I can’t just focus on asking them, “How much are you saving?” or “Do you think you are conservative or aggressive?” These are questions to be addressed. However, a couple’s retirement is dependent on a few other financial disciplines that are interconnected with retirement planning to flesh
Victims of bank fraud should not expect automatic refunds and are sometimes at fault for not taking a “duty of care”, the CEO of RBS has reportedly said. Chief Executive Ross McEwan said that banks could not always be blamed if customers give out their account details to online scammers, according to U.K. newspaper the
Many people who have saved millions of dollars to retire comfortably are now scared to spend it. A recently retired client, a woman with approximately $1 million in savings, was asked to join a group of friends on a girls’ getaway vacation costing approximately $3,000. Even though she had plenty of money to take the
Chinese ride-hailing giant Didi Chuxing has announced plans to expand its business in the Middle East and North Africa. The Uber rival said it would enter into a strategic partnership with the Dubai-based car booking service Careem to strengthen its presence in the region. It follows the firm’s decision last Tuesday to team up with
Would-be millionaires now have two opportunities to try for jackpots of more than $300 million. The Mega Millions jackpot is now $346 million, and the Powerball jackpot, $307 million, after weekend drawings for both games failed to yield winners for the top prizes. (The next Mega Millions drawing is at 11 p.m. ET on Tuesday;
Elon Musk’s car company Tesla appears to be leading the “arms race” for lithium-ion batteries — for now. Musk recently announced plans to build the world’s biggest lithium-ion battery storage project in South Australia. Meanwhile, construction of the company’s highly anticipated 35-gigawatt-hour (GWh) “Gigafactory 1” is still underway. “There’s a kind of arms race on
Deciding not to expect repayment can reduce your anxiety. You still might second-guess your decision, especially if you have to come to terms with forfeiting a needed purchase or valued activity, or even delaying retirement, as you watch the funds vanish. Requests for financial help from family members can sabotage personal finances and emotional well-being.
For President Trump, 15 is the magic number. That’s the percentage at which he wants to cap the corporate tax rate, a steep cut from the current top rate of 35 percent and much lower than the ordinary income rates paid by many partnerships and small-business entities. When news reports indicated recently that the goal
The family office of Steven Cohen, the billionaire banned from running a hedge fund in the US, has run into a regulatory roadblock in the UK. Point72, which manages about $11bn of Mr Cohen’s personal fortune, has been told in recent months that it would not receive regulatory approval in the UK by the Financial
The slump in the swankiest sector of the housing market appears to be over, and, ironically, it may be due to a dose of reality among sellers. Sale prices of luxury homes in the second quarter of this year were up 7.5 percent from a year ago, the first time luxury gains have outpaced the
Gold spot prices have managed to increase this year to $1,268.36, up about 10 percent year to date. This price rise may have weighed on investor demand for gold-backed ETFs, according to the World Gold Council report. “This led to some investors taking a more cautious approach, reluctant to build positions after a strong price
Though CEOs may be taking note of increasing pressure from investors and politicians over their generous pay packets, the report once again highlights the stark disconnect between bosses and their employees. The average salary of a FTSE 100 CEO last year was 160 times that of the average U.K. worker. This means that it would
Akbar said they are looking for pockets of value within equity markets, so are rotating out of sectors such as technology and into areas which have underperformed, as the current environment of global growth will provide these areas with support. They are considering areas such as energy and basic materials. Newsome also suggested some sectors
Tesla posted a narrower-than-expected second-quarter loss Wednesday, boosted by revenue that nearly doubled. The strong revenue was driven by deliveries of its Model S sedans and Model X SUVs, helping to relieve investor concerns that the upcoming Model 3 was cannibalizing sales of its higher-end models. Here’s how the company did compared to what Wall
Tesla is not considering raising more equity at this point, CEO Elon Musk said Wednesday “We are not at this point considering an equity raise, we are thinking about debt,” Musk said on the company’s second-quarter earnings call. “But we are not thinking about an equity raise.” Some analysts have expected Tesla to return to
The Wall Street Journal first reported news of the agreement Tuesday. “We very much look forward to responding to the growing interest in cryptocurrencies through the creation of bitcoin futures traded on a regulated derivatives exchange,” CBOE Holdings Chairman and CEO Ed Tilly said in a release. CBOE Holdings’ other subsidiaries include the Bats exchanges.
The dollar dropped 0.77 percent against the euro on Wednesday, hitting its lowest level against the common currency in more than 2 1/2 years. The euro traded at $1.1852 against the greenback as of 4:10 p.m. in New York. The euro also broke above $1.19 for the first time since Jan. 6, 2015. The dollar
The U.S. economy will be strong enough for the Federal Reserve to trim its bond holdings “this fall,” San Francisco Fed President John Williams said on Wednesday, in a sign the central bank was close to unwinding a controversial stimulus tool. After pushing rates nearly to zero to fight the 2007-2009 financial crisis and recession,
Democrats are calling for harsh new punishments on companies that outsource jobs and a crackdown on currency manipulation, embracing a more populist economic agenda as they seek to win back control of Congress in next year’s midterm elections. Senate Minority Leader Chuck Schumer of New York announced the plan Wednesday morning with fellow party Rust