PepsiCo recently released its quarterly earnings report, surprising analysts with better-than-expected results despite facing challenges in the U.S. market. The company reported a net income of $2.04 billion, or $1.48 per share, beating Wall Street expectations. However, PepsiCo’s stock saw a decline of over 2% in morning trading, signaling investor concerns regarding the future outlook
President Joe Biden’s initial plan to forgive student debt was blocked by the Supreme Court last summer. The conservative majority court ruled that Biden did not have the authority to erase $400 billion in student debt without prior approval from Congress. The plan sought to forgive the debt of nearly all 40 million federal student
When Tesla reported its first-quarter earnings, the results did not meet the market’s expectations. Analysts were expecting an earnings per share of 51 cents and revenue of $22.15 billion. However, revenue actually dropped by 5.1% from the previous year, marking the first year-over-year decline since 2020. This news led to a significant drop in Tesla’s
One of the largest local TV broadcasters in the U.S., E.W. Scripps, has made headlines by hiring a financial advisor to evaluate interest in acquiring Bounce TV, its over-the-air network tailored for African American audiences. This move comes in the wake of Paramount Global exploring the sale of BET Media Group, a Black entertainment company,
Novartis, the Swiss drugmaker, saw a significant increase in its stock price by as much as 4.8% following the release of its first-quarter results. The company demonstrated better-than-expected performance, leading to a boost in investor confidence. With net sales rising by 11% and core operating income increasing by 22% in the first three months of
General Motors’ first-quarter performance exceeded expectations, with the company witnessing a surge in both revenue and net income. The automotive giant has raised its 2024 guidance following a stellar first quarter, highlighting robust North American operations as a key contributor to its success. GM’s adjusted earnings are now expected to reach $12.5 billion to $14.5
Recently, the Securities and Exchange Commission (SEC) in the Philippines has taken a significant step by ordering Google and Apple to remove cryptocurrency exchange Binance from their app stores. The regulator cited concerns about the security of funds for Filipino investors due to Binance’s alleged activities in the country. SEC Chairperson Emilio Aquino has expressed
JetBlue Airways is facing a turbulent time as its shares plummeted by more than 10% in premarket trading following a downgrade in its 2024 revenue forecast. The airline anticipates that second-quarter revenue will experience a significant drop of up to 10.5%, which is more than double what analysts had predicted. This disappointing news has been
The U.S. Federal Trade Commission took a firm stance on Monday by filing a lawsuit to obstruct the $8.5 billion deal between Coach and Kate Spade’s parent company, Tapestry, and Capri Holdings. This move throws a temporary wrench in the plan to merge two prominent names in American luxury retail and consolidate six fashion brands
The United Auto Workers achieved a significant victory over the weekend as Volkswagen workers in Chattanooga, Tennessee voted overwhelmingly in favor of joining the union. This victory marks the UAW’s first successful attempt at organizing a foreign-owned automaker plant in the South. The implications of this vote have the potential to affect other automakers, organized