Ride-hailing company Uber is still on track to book more than $10 billion in revenue this year, although growth has slowed and its losses widened since the first quarter, according to the company’s self-reported financials. Uber told CNBC its Q2 net revenue was $2.7 billion, up 51 percent from the same quarter last year, and
Constellation Brands is upping its bet on the cannabis industry, announcing an additional $4 billion stake in Canopy Growth on Wednesday. The maker of Corona and Modelo took a 9.9 percent stake in the Canadian cannabis company in Oct. 2017, which included the option for future investments, giving Constellation a first toehold in an industry
Walmart is partnering with Ellen DeGeneres on a new clothing line as the retailer looks to bulk up its apparel brands in stores and online to compete with the likes of Amazon and Target. The move builds on Walmart’s partnership with Lord & Taylor that was rolled out earlier this year on Walmart.com. Walmart also
Larry French | Getty Images Guinness Open Gate Brewery & Barrel House, the first Guinness brewery in the U.S. in more than 60 years, held a ribbon cutting on August 2, 2018 in Halethorpe, Maryland. Opening to the public August 3, 2018 at 3pm EST. U.S. fans of Guinness won’t have to travel to Dublin
Saul Loeb | AFP | Getty Images Simpson Chung uses a virtual reality headset during the NVIDIA GPU Technology Conference, which showcases artificial intelligence, deep learning, virtual reality and autonomous machines, in Washington, DC. Nvidia’s new graphics chips are finally here after a long two-year wait. On Monday the chipmaker unveiled its latest eighth-generation Turing
CNBC reported last week that the Tesla board planned to meet with financial advisers this week to formalize a process to explore Musk’s proposal. The board is also likely to ask Musk to recuse himself from the decision, people familiar with the discussions said. The Tesla board had already met “several times” to discuss the
Even if a user turned off their location history, information stored through those location markers could still paint a clear picture about their physical whereabouts over time. For example, clicking on that location marker opened up a Google Maps display that showed exactly where I was when I made that search query. While Google’s Location
Longbow Research bumped up its rating of Papa John’s shares to buy from neutral on Friday, as analyst Alton Stump says “it can only get better from here” after the third-largest pizza chain was embroiled in controversy. “We believe negative investor sentiment is now fully baked into the share price,” Stump wrote in a note.
President Donald Trump renewed his war of words with iconic U.S. motorcycle maker Harley Davidson on Sunday, denouncing the company’s plan to shift some production abroad and appearing to back consumers that have called for a boycott. In a series of early morning posts on Twitter, the president said that people looking to stop buying
The trade war comes along at a particularly bad time for BMW. The automaker recently authorized a $1 billion expansion for its plant in Spartanburg, South Carolina, its largest manufacturing complex in the world. The move was intended to create about 1,100 new jobs with the addition of the all-new X7 model, BMW’s largest and
As of this week, Hulu’s major stakeholders have all reported earnings for the most recent quarter — and all three posted some big losses for the streaming service as it ramps up investments. Hulu doesn’t report official numbers — and declined to comment for this story — but some rough math of write-downs by Comcast,
For Facebook, that would be a heavy regulatory burden to assume, particularly at a time when lawmakers and consumers are pushing the company to clean up its processes for protecting user data. Following the Cambridge Analytica scandal earlier this year and the social network’s acknowledgement of how broadly its platform was used by foreign actors
Gary Rathbun rumbled into South Dakota to attend the United States’ pre-eminent gathering of motorcycle enthusiasts atop his Harley-Davidson, a 2009 Ultra Classic that brought him 800 miles from Idaho. It is the 40th Harley he has owned. It will also likely be his last. Like many of Harley’s most loyal customers, Mr. Rathbun was
A major Papa John’s franchisee group on Friday publicly urged the chain’s founder, John Schnatter, to move on from the company, as it continues to be rocked by the events following his use of the N-word on a conference call. Schnatter, who owns nearly 30 percent of the company, gave up his post as chairman
Naspers is putting more money into LetGo, a mobile marketplace for used goods that competes with Craigslist, eBay, and Facebook Marketplace, along with start-ups like OfferUp. Naspers has committed to pour $500 million more into LetGo, with $150 million invested so far. LetGo was earlier backed by NEA, Insight Venture Partners, Accel and others. Novo
VF Corp is considering a sale or spinoff of its denim business, sources told The Wall Street Journal on Friday. The apparel and footwear company owns popular denim brands Wrangler and Lee, along with smaller brands Rustlers and Rock & Republic. Based on the denim business’ sales, it could be valued at several billion dollars.
Check out the companies making headlines before the bell: News Corp. – News Corp. reported adjusted quarterly profit of 8 cents per share, two cents above estimates. The Wall Street Journal publisher also saw revenue top forecasts, thanks to growth in real estate listings, book publishing, and subscription video services. Tesla – Tesla’s board of
Arch Coal, Inc.: “Coal is enjoying a bit of a renaissance, I have to admit. I am not a fan of the coal stocks, but these guys have fixed their balance sheet. I just don’t want to overstate because even utilities in this country aren’t that interested in it, so I say don’t buy.” Visteon
Albertsons Cos last night called off its merger with Rite Aid that would have provided its private equity owners, Cerberus Capital Management, a long-awaited means to unload its more than decade-old grocery investment. The scuttled deal is just the latest in a string of disappointments for Cerberus, which has unsuccessfully tried to shed Albertsons multiple
Check out the companies making headlines before the bell: Viacom – The media company reported adjusted quarterly profit of $1.18 per share, 11 cents a share above estimates. Revenue was essentially in line with forecasts, but was down about 3.7 percent from a year earlier due to a drop in ad sales and cable fees.