Jonathan Wong
The Latest
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Peloton Shares Skyrocket 15 Percent as Company Surprises Market with First Sales Growth in Nine Quarters After Aggressive Cost-Cutting
Peloton Interactive, the once high-flying fitness equipment maker, showed signs of recovery as its latest quarterly report revealed better-than-expected financial results, marking a critical step in the company's ongoing turnaround. The company, which became a household name during the pandemic, has been struggling to regain its footing after demand for its products plummeted post-pandemic. 
Peloton Interactive, the once high-flying fitness equipment maker, showed signs of recovery as its latest quarterly report revealed better-than-expected financial results, marking a critical step in the company's ongoing turnaround. The company, which became a household name during the pandemic, has been struggling to regain its footing after demand for its products plummeted post-pandemic. -
Advance Auto Parts Sells Worldpac for $1.5 Billion Amid Profit Downgrade and Investor Pressure
Advance Auto Parts announced on Thursday the sale of its Worldpac unit to private equity firm Carlyle Group for $1.5 billion in cash. The decision comes as the automotive afterparts provider faces increasing pressure from activist investors and struggles with lagging financial performance compared to its competitors. 
Advance Auto Parts announced on Thursday the sale of its Worldpac unit to private equity firm Carlyle Group for $1.5 billion in cash. The decision comes as the automotive afterparts provider faces increasing pressure from activist investors and struggles with lagging financial performance compared to its competitors. -
Starbucks Launches Fall Menu Earlier Than Ever, Banking on Pumpkin Spice Craze to Boost Sales
Starbucks is kicking off the fall season earlier than ever with the return of its highly anticipated Pumpkin Spice Latte (PSL) and a revamped lineup of seasonal favorites. The Seattle-based coffee giant announced that its fall menu would debut on Thursday, August 22-two days ahead of last year's launch-amid mounting pressure to reignite sales that have been sluggish in recent months. 
Starbucks is kicking off the fall season earlier than ever with the return of its highly anticipated Pumpkin Spice Latte (PSL) and a revamped lineup of seasonal favorites. The Seattle-based coffee giant announced that its fall menu would debut on Thursday, August 22-two days ahead of last year's launch-amid mounting pressure to reignite sales that have been sluggish in recent months. -
Ford Adjusts EV Strategy Amid Slower Adoption, Delays Next-Gen Pickup and Scraps Electric SUV
Ford Motor announced on Wednesday that it will delay the production of its next-generation all-electric pickup truck at a new plant in Tennessee and scrap plans for a three-row electric SUV. Instead, Ford will focus on expanding its lineup of hybrid vehicles and enhancing its electric commercial offerings, including the launch of a new electric van anticipated in 2026. 
Ford Motor announced on Wednesday that it will delay the production of its next-generation all-electric pickup truck at a new plant in Tennessee and scrap plans for a three-row electric SUV. Instead, Ford will focus on expanding its lineup of hybrid vehicles and enhancing its electric commercial offerings, including the launch of a new electric van anticipated in 2026. -
Macy’s Struggles Persist Amid Soft Consumer Spending and Revised Sales Forecast
Macy's Inc. (M) continues to grapple with declining sales as it faces an increasingly cautious consumer base, prompting the department store giant to lower its full-year sales forecast. 
Macy's Inc. (M) continues to grapple with declining sales as it faces an increasingly cautious consumer base, prompting the department store giant to lower its full-year sales forecast. -
Target’s Price Cuts Drive Traffic Surge, Boost Earnings Beyond Expectations
Target Corporation (TGT) delivered a surprising earnings beat in its latest quarter, largely driven by a strategic move to slash prices on over 5,000 essential products, a tactic that has resonated strongly with consumers in a high-inflation environment. The Minneapolis-based retailer reported a 2.7% year-over-year increase in net sales to $25.5 billion, surpassing Wall Street expectations, while diluted earnings per share surged 43% to $2.57, well above the forecasted $2.18. 
Target Corporation (TGT) delivered a surprising earnings beat in its latest quarter, largely driven by a strategic move to slash prices on over 5,000 essential products, a tactic that has resonated strongly with consumers in a high-inflation environment. The Minneapolis-based retailer reported a 2.7% year-over-year increase in net sales to $25.5 billion, surpassing Wall Street expectations, while diluted earnings per share surged 43% to $2.57, well above the forecasted $2.18. -
Edgar Bronfman Jr. Raises $5.5B in High-Stakes Bid to Acquire Paramount
Billionaire media mogul Edgar Bronfman Jr. has thrown a significant wrench into the ongoing negotiations for the acquisition of Paramount Global. Bronfman, a former Warner Music Group executive, has submitted a multi-billion dollar bid to acquire the Hollywood giant, challenging an $8 billion deal previously struck between Paramount and Skydance Media. The bold move by Bronfman, who has raised $5.5 billion for his bid, marks a high-stakes battle for control over one of the most storied names in entertainment. 
Billionaire media mogul Edgar Bronfman Jr. has thrown a significant wrench into the ongoing negotiations for the acquisition of Paramount Global. Bronfman, a former Warner Music Group executive, has submitted a multi-billion dollar bid to acquire the Hollywood giant, challenging an $8 billion deal previously struck between Paramount and Skydance Media. The bold move by Bronfman, who has raised $5.5 billion for his bid, marks a high-stakes battle for control over one of the most storied names in entertainment. -
Eli Lilly’s Weight Loss Drug Cuts Diabetes Risk by 94% in Three-Year Trial
Eli Lilly's weight loss drug, tirzepatide, has demonstrated a remarkable 94% reduction in the risk of developing Type 2 diabetes among prediabetic adults who are overweight or obese, according to new data released by the company. 
Eli Lilly's weight loss drug, tirzepatide, has demonstrated a remarkable 94% reduction in the risk of developing Type 2 diabetes among prediabetic adults who are overweight or obese, according to new data released by the company. -
Proposed 7-Eleven Buyout by Circle K Parent Faces Antitrust Hurdles
The proposed acquisition of Seven & i Holdings Co., the Japanese conglomerate that owns 7-Eleven, by Alimentation Couche-Tard, the Canadian operator of Circle K, is poised to face significant antitrust scrutiny, especially in the United States. Retail analysts are already sounding alarms over potential regulatory challenges that could arise from the deal, which would combine two of the largest convenience store chains in the country. 
The proposed acquisition of Seven & i Holdings Co., the Japanese conglomerate that owns 7-Eleven, by Alimentation Couche-Tard, the Canadian operator of Circle K, is poised to face significant antitrust scrutiny, especially in the United States. Retail analysts are already sounding alarms over potential regulatory challenges that could arise from the deal, which would combine two of the largest convenience store chains in the country. -
Lowe's Revises Full-Year Outlook Amid Sluggish Home Improvement Market
Lowe's has revised its full-year forecast downward after reporting weaker-than-expected sales in the second quarter, as the home improvement retailer grapples with a challenging economic environment. The company now anticipates total sales for 2024 to range between $82.7 billion and $83.2 billion, a reduction from its previous estimate of $84 billion to $85 billion. This adjustment reflects the ongoing pressure on consumers, particularly homeowners, to defer significant spending on home projects due to high interest rates and economic uncertainty. 
Lowe's has revised its full-year forecast downward after reporting weaker-than-expected sales in the second quarter, as the home improvement retailer grapples with a challenging economic environment. The company now anticipates total sales for 2024 to range between $82.7 billion and $83.2 billion, a reduction from its previous estimate of $84 billion to $85 billion. This adjustment reflects the ongoing pressure on consumers, particularly homeowners, to defer significant spending on home projects due to high interest rates and economic uncertainty.
