Business
GM EV unit BrightDrop expects $1 billion in 2023 revenue, mass production of all-electric delivery vans to start in December
BrightDrop CEO Travis Katz says he’s “charged up” about 2023 and the forecast for the General Motors EV unit to top $1 billion in revenue in 2023. The announcement, tied to General Motors’ investor day on Thursday, is the first time BrightDrop has released revenue numbers. The company did not release revenue data in 2021, […]
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FanDuel to new rivals: Good luck with sports betting − you’re going to need it
FanDuel CEO Amy Howe is predicting her company will defend and even widen its share of the online sports betting market in the U.S. Source
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Ticketmaster’s largest shareholder blames massive demand − including from bots − for Taylor Swift ticket fiasco
Now we got bad bots. The CEO of Liberty Media, Live Nation’s largest shareholder, defended the event promoter against calls that it should be broken up following a storm of glitches and site failures during Ticketmaster presales this week for Taylor Swift’s upcoming tour. Live Nation is sympathetic to fans who couldn’t get tickets, Greg […]
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Rent growth slows to the lowest level in 18 months
A “Now Leasing” sign is displayed in front of an apartment complex in Washington, DC, on January 24, 2022. Stefani Reynolds | AFP | Getty Images The red-hot rental market is finally starting to cool off along with the rest of housing. Rents are still higher than they were a year ago, but the gains […]
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Wolfe Research says these unloved stocks are starting to show favorable signs heading into 2023
A few stocks that were unloved this year look set to turn the page heading into 2023, according to Wolfe Research. Many market participants expect there will be more challenges ahead for stocks, even after the sharp pullback this year. According to Barclays, the macro backdrop heading into next year appears “decidedly negative,” as the […]
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This under-the-radar cooler stock is ‘bear proof,’ Canaccord Genuity says
Investors should utilize the sharp pullback in Yeti ‘s stock to buy into a company with “solid fundamentals” at a steep discount, according to Canaccord Genuity. Analyst Brian McNamara initiated coverage of the cooler and drinkware maker with a buy rating in a note to clients Wednesday, saying the stock is as “bear-proof as its […]
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FDA says lab-grown meat is safe for human consumption
Uma Valeti, CEO and founder, UPSIDE Foods speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, October 18, 2021. David Swanson | Reuters The Food and Drug Administration for the first time cleared a lab-grown meat product developed by a California start-up as safe for human consumption, marking a key milestone for […]
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FTX collapse an example of ‘greed and FOMO,’ says short-seller Carson Block
Carson Block, founder of short selling investment firm Muddy Waters, thinks the collapse of cryptocurrency exchange FTX under Sam Bankman-Fried is a “great example of greed and FOMO.” Block told CNBC’s “The Exchange” he had seen the business trajectory of the former billionaire and thought there was “obviously something wrong.” related investing news ‘Big Short’ […]
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Macy’s raises earnings forecast, says it has fresh inventory for the holidays
Macy’s flagship store in Herald Square in New York, Dec. 23, 2021. Scott Mlyn | CNBC Macy’s on Thursday raised its earnings forecast for the year after the department store operator said it has fresh merchandise and is ready for the holiday shopping season. The company stood by its revenue guidance as it faces a […]
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Stocks making the biggest moves premarket: Macy’s, BJ’s Wholesale, Kohl’s and others
Check out the companies making headlines before the bell: Macy’s (M) – Macy’s stock leaped 9.6% in the premarket after the retailer reported better-than-expected profit and revenue. Same-store sales fell less than expected and the company also raised its earnings outlook. related investing news Nvidia’s results suggest its gaming business is close to a bottom, […]
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