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.

General Motors Unveils 2025 Chevy Corvette ZR1: Most Powerful Corvette Yet

General Motors’ latest Chevrolet Corvette will be the most powerful version of the iconic American sports car ever produced. The 2025 Chevy Corvette ZR1...

LVMH Becomes First Luxury Brand to Sponsor the Olympics

For the first time, a luxury brand has become an official Olympic sponsor, and it's none other than the extensive empire of LVMH. "We...

Bristol Myers Squibb Q2 Earnings Exceed Expectations, Raises 2024 Guidance

Bristol Myers Squibb reported impressive second-quarter earnings and revenue, surpassing Wall Street expectations and leading to an increase in its full-year guidance. The pharmaceutical...

Regulatory Concerns and Market Dynamics Shape Future of Media Mergers

Comcast CEO Brian Roberts recently conveyed a clear message to Warner Bros. Discovery CEO David Zaslav: acquisitions are not on his agenda. During Comcast’s...

Paris Olympics: A Golden Opportunity for Peacock to Shine

The Paris Olympics present a significant opportunity for Comcast to elevate its streaming platform, Peacock, aiming not only to attract more subscribers but also...

Samsung’s HBM3 Chips Cleared for Nvidia’s China-Focused GPUs

Samsung Electronics' fourth-generation high bandwidth memory (HBM3) chips have been approved by Nvidia for use in its processors for the first time, according to...

LG Energy Solution Explores Chinese Partnerships for Low-Cost EV Batteries in Europe

South Korea's LG Energy Solution (LGES) is negotiating with three Chinese suppliers to produce cost-effective electric vehicle (EV) batteries for the European market. This...

Elon Musk Polls Social Media on $5 Billion Tesla Investment in AI Startup xAI

Tesla CEO Elon Musk recently launched a poll on social media platform X to gauge user opinion on whether the electric carmaker should invest...

European Markets Brace for Volatility Amid Earnings Reports and Economic Data

A sales miss by luxury giant LVMH, attributed to restrained spending by Chinese shoppers, coupled with disappointing results from major U.S. tech firms Tesla...

UPS Lowers 2024 Revenue Forecast Amid Q2 Earnings Miss and Volume Shifts

United Parcel Service (UPS) reported lower-than-expected profit and revenue for the second quarter and adjusted its 2024 revenue guidance. The company's stock fell 12%,...

Coca-Cola Raises 2024 Outlook Amid Rising Global Demand

Coca-Cola announced on Tuesday an upward revision to its full-year outlook for 2024, driven by increased global demand in the second quarter. The beverage...

GM Delays Electric Truck Plant and Buick’s First EV, Revises Production Goals

General Motors (GM) announced a six-month delay in retooling its electric truck plant in Michigan, pushing the timeline to mid-2026. This delay means GM...

New Bipartisan Bill Targets Drug Supply Chain Middlemen to Lower Prescription Costs

Bipartisan lawmakers have introduced the “Pharmacists Fight Back Act,” targeting the business practices of drug supply chain middlemen known as pharmacy benefit managers (PBMs)....

US Home Sales Drop 5.4% in June as Market Shifts to Buyers’ Favor

Sales of previously owned homes fell 5.4% in June compared to May, totaling 3.89 million units on a seasonally adjusted, annualized basis, according to...

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