Business
AMC Entertainment reports another quarterly loss despite higher revenue
AMC Entertainment on Tuesday reported another quarterly loss despite higher revenue from a year ago, as it spent more on operational costs. The world’s largest movie theater chain is contending with a massive debt load, dilution of its stock and a film release schedule short on blockbusters. While the summer box office was strong, August […]
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Electric vehicle maker Lucid reports third-quarter loss, confirms it’s on track to meet production guidance
Electric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona. Lucid Electric vehicle maker Lucid Group on Tuesday reported that it lost $530 million in the third quarter but confirmed that it’s still on track to make between 6,000 […]
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Disney wants you to focus on revenue and profit instead of streaming subscribers — just not this quarter
The Disney+ Marvel website home screen on a laptop computer in the Brooklyn borough of New York, US, on Monday, July 18, 2022. Gabby Jones | Bloomberg | Getty Images The biggest companies in media and entertainment are telling investors to focus on revenue and profit instead of streaming subscriber growth — that message backfired […]
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Sweetgreen shares tumble after salad chain lowers revenue outlook
A worker wears a Sweetgreen Inc. hat while preparing food inside the company’s restaurant in Boston, Massachusetts. Adam Glanzman | Bloomberg | Getty Images Shares of Sweetgreen fell 10% in after-hours trading on Tuesday after the salad chain reported a wider-than-expected loss and lowered its full-year revenue outlook. For 2022, the company now anticipates its […]
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Space company Astra lays off 16% of workforce as it faces rocket development delay, quarterly losses
Astra CEO Chris Kemp speaks inside the company’s headquarters during the company’s “Spacetech Day” on May 12, 2022. Brady Kenniston / Astra Astra announced Tuesday it would lay off about 16% of its employees as the space company faces a pivot in its rocket development program. “Given the challenging macroeconomic environment, we made the difficult […]
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Disney misses on profit and key revenue segments, but sees strong streaming growth
Bob Chapek, Disney CEO at the Boston College Chief Executives Club, November 15, 2021. Charles Krupa | AP Disney fell short of expectations for profit and key revenue segments during the fiscal fourth quarter, but saw strong streaming growth for its Disney+ platform — a rare bright spot in the report out Tuesday. The company’s […]
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Winning ticket for Powerball’s record $2.04 billion jackpot sold in California — here’s what will go to taxes
Anadolu Agency | Anadolu Agency | Getty Images California does not tax lottery winnings While the IRS will scrape 24% — or $239.4 million — off the top for federal tax withholding, California does not tax lottery winnings, according to the state’s lottery winner’s handbook. So if the winning ticket holder lives in the Golden […]
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Climate change threatens to destroy ‘the things Americans value most,’ U.S. government warns
The Jade Isle Mobile Home Park is flooded in this aerial view from a drone in St. Cloud. Residents of the community were issued a voluntary evacuation order due to rising water levels in the aftermath of Hurricane Ian. Paul Hennessy | Lightrocket | Getty Images The U.S. must ramp up efforts to reduce greenhouse […]
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Stocks making the biggest moves midday: Lyft, Tripadvisor, Take-Two Interactive and more
Check out the companies making headlines in midday trading. Lyft – Shares of Lyft plummeted 21% after the company’s earnings report showed mixed results in the last quarter. The rideshare company reported adjusted earnings per share of 10 cents, more than analysts’ expectations of 7 cents, but revenue fell short of the Street’s forecast, coming […]
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Consumers are cutting back on holiday gift buying amid higher inflation
Inflation is weighing heavily on the holidays this year. Roughly half of shoppers will buy fewer things due to higher prices, and more than one-third said they will rely on coupons to cut down on the cost, according to a recent survey of more than 1,000 adults by RetailMeNot. Though the study found many consumers […]
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