Business

Sea Limited Shares Surge 9% as Revenue Climbs 48% and Shopee Outlook Strengthens

Sea Limited shares rose about 9% after quarterly revenue climbed 48% and the company delivered a stronger outlook for its Shopee e-commerce business.

US Existing Home Sales Fall 1.7% in July as Record Prices Deter Buyers

US existing home sales dropped 1.7% in July as record prices and the highest mortgage rates in a year kept many prospective buyers out of the market.

Barclays Downgrades Gap and Under Armour in U.S. Apparel Retailer Reshuffle

Barclays cut its ratings on Gap and Under Armour in a reshuffle of U.S. apparel retailers, citing limited upside amid uneven consumer demand.

Oil Climbs as Hopes for Imminent Strait of Hormuz Deal Fade

Crude climbs above $84 in the U.S. and past $89 internationally as hopes for an imminent Strait of Hormuz reopening deal collapse into deadlock.

Hims & Hers Shares Slide as Weight-Loss Expansion Squeezes Margins Despite Revenue Beat

Hims & Hers stock fell after beating revenue estimates but posting a loss, as its costly expansion into weight-loss treatments pressured margins.

Bristol Myers Squibb Reports Strong Q2 Results, Boosts Full-Year Earnings Forecast

Bristol Myers Squibb posted impressive second-quarter results, driven by the strong performance of new products like the anemia treatment Reblozyl and heart drug Camzyos,...

Union Pacific Under Scrutiny for Interference in Federal Safety Audit

Union Pacific, a leading U.S. railroad company, is under investigation for allegedly interfering with a federal safety audit. This interference prompted the Federal Railroad...

Apollo Global Management Invests $700 Million in Sony Music Group for High-Grade Alternative Assets

Apollo Global Management, a major player in private equity, has made a significant investment of $700 million in the renowned record label Sony Music...

Federal Reserve Prepares for Potential Rate Cuts Amid Signs of Easing Inflation

U.S. Federal Reserve policymakers received new evidence on Friday suggesting significant progress in their ongoing battle against inflation. This development has fueled expectations that...

U.S. Investors Continue Strong Equity Fund Inflows Amid Earnings Season

U.S. investors continued their bullish stance on equity funds in the week leading up to July 24, injecting $5.7 billion into these funds despite...

3M Increases Annual Profit Forecast Amid Restructuring and High-Demand Sectors

Industrial conglomerate 3M has raised the lower end of its annual adjusted profit forecast, thanks to successful restructuring efforts and growing demand in high-tech...

LinkedIn Settles Class Action Lawsuit Over Inflated Video Ad Metrics for $6.625 Million

LinkedIn has agreed to a $6.625 million settlement to resolve a proposed class action lawsuit that accused the Microsoft-owned unit of overcharging advertisers by...

Nasdaq Leads Wall Street Gains as Tech Stocks Rebound and Inflation Data Aligns with Expectations

Wall Street’s primary indexes opened higher on Friday, with the Nasdaq Composite taking the lead as most megacap tech and chip stocks rebounded from...

U.S. Inflation Moderates in June, Raising Hopes for September Rate Cuts

U.S. prices rose modestly in June as the cost of goods fell, balancing an increase in service prices. This indicates an improving inflation landscape...

Viking Therapeutics Advances Weight Loss Injection to Late-Stage Trial, Shares Surge 28%

Shares of Viking Therapeutics surged by 28% on Thursday following the biotech company’s announcement that it will advance its experimental weight loss injection, VK2735,...

Southwest Airlines Overhauls Business Model with Assigned Seating and Extra Legroom

Southwest Airlines is set to implement the most significant changes to its business model in 53 years by introducing assigned seating and extra legroom...

Ford Leads Decline in U.S. Automotive Stocks Amid Disappointing Earnings

Ford Motor Company is leading a significant decline in major U.S. automotive stocks this week following disappointing earnings results and growing investor skepticism regarding...

Boeing’s Starliner Mission Extended: NASA and Boeing Address Issues Before Return

Boeing’s crew spacecraft, Starliner, will stay docked with the International Space Station (ISS) into August, NASA confirmed on Thursday. The mission, which is currently...

Deadpool & Wolverine Set to Break Box Office Records with R-Rated Marvel Cinematic Universe Debut

The “Merc with a Mouth” returns to the big screen this weekend, bringing an R-rating to Disney’s Marvel Cinematic Universe. "Deadpool & Wolverine," the...

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