Month: October 2024
Starbucks shares slide after coffee chain says sales fell again, suspends outlook
Starbucks cups are pictured on a counter in Manhattan, New York, on Feb. 16, 2022. Carlo Allegri | Reuters Starbucks on Tuesday posted preliminary quarterly results, which showed its sales fell again as the coffee chain tries to execute a turnaround. “Our fourth quarter performance makes it clear that we need to fundamentally change our […]
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Amazon to shut down speedy brick-and-mortar delivery service
Amazon Flex driver Ricardo Escalona works to deliver his same day orders during Cyber Monday from an Amazon fulfillment center on November 27, 2023 in Tampa, Florida. Octavio Jones | Getty Images News | Getty Images Amazon is shutting down a service that offers same-day delivery from mall and brick-and-mortar retailers, CNBC has learned. The […]
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Danaher returns a key business to growth, and we’re raising our stock rating back to buy
Danaher shares declined Tuesday despite the life sciences company returning its key bioprocessing business to growth in the third quarter. Danaher’s revenue for the three months ended Sept. 27 advanced 3% year over year on a reported basis, to $5.8 billion, outpacing the LSEG consensus estimate of $5.59 billion. On an organic basis, sales were […]
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Amazon-backed Anthropic debuts AI agents that can do complex tasks, racing against OpenAI, Microsoft and Google
Dario Amodei, co-founder and CEO of artificial intelligence startup Anthropic. Chesnot | Getty Images Anthropic, the Amazon-backed AI startup founded by former OpenAI research executives, announced Tuesday that it’s reached an artificial intelligence milestone for the company: AI agents that can use a computer to complete complex tasks like a human would. Anthropic is the company […]
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Stratospheric, AI-enabled robotic cameras on balloons could help you get your insurance claim check faster
The task for insurance adjusters is enormous in the wake of back to back hurricanes Helene and Milton, which caused catastrophic damage across several southern states. For decades, these adjusters have used the same methods to assess property damage after natural disasters. They visit individual properties and use small airplanes with high resolution cameras to […]
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Stocks making the biggest moves midday: Genuine Parts, General Motors, Verizon, Philip Morris and more
Check out the companies making headlines in midday trading: Genuine Parts — Shares fell about 20% on the back of the company’s weaker-than-expected earnings for the third quarter. During the period, Genuine Parts earned $1.88 per share, excluding items, below the $2.42 per share that analysts polled by FactSet were expecting. It also slashed its […]
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Starboard Value’s Jeff Smith says Salesforce has ‘a lot more to go’ and can get more profitable
Jeff Smith, chief executive officer and chief investment officer of Starboard Value LP. Chris Goodney | Bloomberg | Getty Images Salesforce shares jumped 98% in 2023 in part after the business software maker increased its adjusted operating margin after Starboard Value and other activist investors raised concerns about the company’s financial performance. Starboard now sees […]
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IMF says global fight against inflation is ‘almost won’ but warns of rising risks
Much of the world has managed to successfully lower inflation and engineer an economic soft landing, avoiding recession, but faces rising geopolitical risks and weaker long-term growth prospects, according to the International Monetary Fund. Global headline inflation will fall to 3.5% on an annual basis by the end of 2025, from an average 5.8% in […]
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Walmart will start delivering prescriptions to customers’ doorsteps as CVS and Walgreens struggle
Walmart will start to deliver prescriptions to customers’ doorsteps. Customers can also get additional items dropped off along with medications, such as groceries. Courtesy of Walmart As CVS and Walgreens shutter hundreds of stores nationwide to shore up profits and investor sentiment, Walmart said Tuesday that it is offering a new option for customers: delivering […]
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Paul Tudor Jones says market reckoning coming on spending after election: ‘We are going to be broke’
Billionaire hedge fund manager Paul Tudor Jones is raising alarms about the U.S. government’s current fiscal deficit and the increased spending promised by both presidential candidates, saying the bond market may force the government’s hand after the election in addressing it. “We are going to be broke really quickly unless we get serious about dealing […]
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