Jonathan Wong
The Latest
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Costco Shareholders Overwhelmingly Reject Anti-DEI Proposal in Landmark Vote
Costco shareholders decisively voted down an anti-diversity, equity, and inclusion (DEI) proposal during the company's annual meeting on Thursday, with more than 98% rejecting the measure. The proposal, brought forth by the National Center for Public Policy Research, sought to mandate a report on the potential risks of the retailer's DEI policies. 
Costco shareholders decisively voted down an anti-diversity, equity, and inclusion (DEI) proposal during the company's annual meeting on Thursday, with more than 98% rejecting the measure. The proposal, brought forth by the National Center for Public Policy Research, sought to mandate a report on the potential risks of the retailer's DEI policies. -
AmEx Posts Record Card Spending, Exceeds Q4 Revenue Expectations
American Express reported better-than-expected revenue for the fourth quarter of 2024, driven by strong holiday season spending on travel and online shopping. The New York-based financial services company, which primarily serves affluent consumers, recorded revenue of $17.18 billion for the quarter ending December 31, slightly exceeding analysts' projections of $17.16 billion, according to LSEG data. 
American Express reported better-than-expected revenue for the fourth quarter of 2024, driven by strong holiday season spending on travel and online shopping. The New York-based financial services company, which primarily serves affluent consumers, recorded revenue of $17.18 billion for the quarter ending December 31, slightly exceeding analysts' projections of $17.16 billion, according to LSEG data. -
Boeing Faces $4 Billion Q4 Loss Amid Strikes, Layoffs, and Safety Challenges
Boeing is bracing for a significant $4 billion loss in the fourth quarter of 2024, capping a tumultuous year for the aerospace giant that saw a crippling machinists strike, layoffs, and ongoing safety concerns. The company also expects to report a $3.5 billion operating cash flow loss and revenue of $15.2 billion, falling short of analyst expectations. 
Boeing is bracing for a significant $4 billion loss in the fourth quarter of 2024, capping a tumultuous year for the aerospace giant that saw a crippling machinists strike, layoffs, and ongoing safety concerns. The company also expects to report a $3.5 billion operating cash flow loss and revenue of $15.2 billion, falling short of analyst expectations. -
CNN Cuts 6% of Workforce Amid $70 Million Digital Transformation Push
CNN, one of the world's most recognized news organizations, is laying off 6% of its workforce-approximately 200 employees-as part of a significant restructuring aimed at transforming the network into a digital-first operation. The move, announced on Thursday, is part of a $70 million investment by parent company Warner Bros. Discovery (WBD) to modernize CNN's offerings and position it for a future where audiences increasingly consume news online. 
CNN, one of the world's most recognized news organizations, is laying off 6% of its workforce-approximately 200 employees-as part of a significant restructuring aimed at transforming the network into a digital-first operation. The move, announced on Thursday, is part of a $70 million investment by parent company Warner Bros. Discovery (WBD) to modernize CNN's offerings and position it for a future where audiences increasingly consume news online. -
American Airlines Shares Slide After Weak Profit Forecast and Strategy Setback
American Airlines Group Inc. delivered a disappointing first-quarter earnings outlook on Thursday, forecasting a wider-than-expected loss and sending its shares tumbling more than 5%. The carrier projected an adjusted loss per share of 20 cents to 40 cents for the first three months of 2025, significantly higher than the 4-cent loss analysts had anticipated, according to LSEG data. 
American Airlines Group Inc. delivered a disappointing first-quarter earnings outlook on Thursday, forecasting a wider-than-expected loss and sending its shares tumbling more than 5%. The carrier projected an adjusted loss per share of 20 cents to 40 cents for the first three months of 2025, significantly higher than the 4-cent loss analysts had anticipated, according to LSEG data. -
Netflix to Raise Subscription Prices Following Record Subscriber Growth
Netflix announced on Tuesday that it is raising the prices of most of its subscription plans in the United States and select international markets, marking a strategic move following its most successful quarter in terms of subscriber growth. The changes, effective immediately for new members and phased in for existing ones, are part of Netflix's broader effort to capitalize on its expanding global dominance in the streaming industry. 
Netflix announced on Tuesday that it is raising the prices of most of its subscription plans in the United States and select international markets, marking a strategic move following its most successful quarter in terms of subscriber growth. The changes, effective immediately for new members and phased in for existing ones, are part of Netflix's broader effort to capitalize on its expanding global dominance in the streaming industry. -
FDA Approves Johnson & Johnson's Spravato as Standalone Treatment for Depression
The Food and Drug Administration has approved Johnson & Johnson's nasal spray Spravato (esketamine) as a standalone treatment for adults with treatment-resistant depression. This landmark decision makes Spravato the first-ever monotherapy of its kind, offering hope for individuals who have not responded to at least two standard antidepressant therapies. 
The Food and Drug Administration has approved Johnson & Johnson's nasal spray Spravato (esketamine) as a standalone treatment for adults with treatment-resistant depression. This landmark decision makes Spravato the first-ever monotherapy of its kind, offering hope for individuals who have not responded to at least two standard antidepressant therapies. -
Elon Musk Reportedly in Talks to Take Over Intel
Intel Corp. (NASDAQ: INTC) saw its shares jump nearly 10% amid speculation that the company might be the target of a high-stakes acquisition, with names like Elon Musk, Qualcomm, and GlobalFoundries reportedly in the mix. The rumors, originating from reports by research firms like SemiAnalysis and SemiAccurate, suggest that discussions have been taking place behind closed doors, potentially signaling a seismic shift in the semiconductor industry. 
Intel Corp. (NASDAQ: INTC) saw its shares jump nearly 10% amid speculation that the company might be the target of a high-stakes acquisition, with names like Elon Musk, Qualcomm, and GlobalFoundries reportedly in the mix. The rumors, originating from reports by research firms like SemiAnalysis and SemiAccurate, suggest that discussions have been taking place behind closed doors, potentially signaling a seismic shift in the semiconductor industry. -
U.S. Leaders Backtrack on TikTok Ban Amid Supreme Court Ruling and Public Pressure, Trump Vows to Intervene
The future of TikTok in the United States hangs in the balance as a contentious ban on the popular video-sharing app is set to take effect Sunday. Passed with overwhelming bipartisan support last year and signed into law by President Joe Biden, the legislation requires TikTok's Chinese parent company, ByteDance, to divest from the app or face a nationwide ban. However, as the deadline nears, both political parties appear reluctant to champion the law they once overwhelmingly supported. 
The future of TikTok in the United States hangs in the balance as a contentious ban on the popular video-sharing app is set to take effect Sunday. Passed with overwhelming bipartisan support last year and signed into law by President Joe Biden, the legislation requires TikTok's Chinese parent company, ByteDance, to divest from the app or face a nationwide ban. However, as the deadline nears, both political parties appear reluctant to champion the law they once overwhelmingly supported. -
Capital One Outage Leaves Customers Frustrated as Resolution Drags On
Capital One's prolonged technical outage, now entering its second day, has left customers scrambling to access deposits, make payments, and transfer funds. The issues began on Thursday when the bank attributed the disruption to a third-party vendor, Fidelity Information Services (FIS). The Jacksonville, Florida-based vendor later clarified that a local power outage had impacted a critical data center, disrupting several applications. 
Capital One's prolonged technical outage, now entering its second day, has left customers scrambling to access deposits, make payments, and transfer funds. The issues began on Thursday when the bank attributed the disruption to a third-party vendor, Fidelity Information Services (FIS). The Jacksonville, Florida-based vendor later clarified that a local power outage had impacted a critical data center, disrupting several applications.
