Jonathan Wong
The Latest
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Moderna Stock Plummets as Delayed Profitability and R&D Cutbacks Spark Wall Street Downgrades
Moderna, once a shining star in the pharmaceutical industry for its rapid development of COVID-19 vaccines, is now facing a tough reality. The company's stock took a significant hit following downgrades from major Wall Street firms, triggered by the announcement that it will delay its break-even profitability and scale back its research and development (R&D) investments. 
Moderna, once a shining star in the pharmaceutical industry for its rapid development of COVID-19 vaccines, is now facing a tough reality. The company's stock took a significant hit following downgrades from major Wall Street firms, triggered by the announcement that it will delay its break-even profitability and scale back its research and development (R&D) investments. -
Waymo and Uber Expand Autonomous Rideshare Partnership to Austin and Atlanta, Targeting Early 2025 Launch
Waymo and Uber, once fierce rivals in the autonomous vehicle space, are set to deepen their collaboration by expanding their robotaxi partnership to Austin, Texas, and Atlanta, Georgia, with a launch planned for early 2025. This expansion marks a significant step in the ongoing efforts by both companies to integrate autonomous driving technology into mainstream transportation services. 
Waymo and Uber, once fierce rivals in the autonomous vehicle space, are set to deepen their collaboration by expanding their robotaxi partnership to Austin, Texas, and Atlanta, Georgia, with a launch planned for early 2025. This expansion marks a significant step in the ongoing efforts by both companies to integrate autonomous driving technology into mainstream transportation services. -
Boeing Workers Strike, Halting 737 MAX Production as Union Rejects Contract Offer
Boeing Co.'s (BA) production of its best-selling 737 MAX jet came to an abrupt halt early Friday as approximately 30,000 unionized workers walked off the job after overwhelmingly rejecting a proposed four-year contract. The strike, the first at the aerospace giant in 16 years, underscores mounting tensions between labor and management amid Boeing's ongoing financial and operational challenges. 
Boeing Co.'s (BA) production of its best-selling 737 MAX jet came to an abrupt halt early Friday as approximately 30,000 unionized workers walked off the job after overwhelmingly rejecting a proposed four-year contract. The strike, the first at the aerospace giant in 16 years, underscores mounting tensions between labor and management amid Boeing's ongoing financial and operational challenges. -
Boeing Faces Potential Shutdown as 33,000 Workers Vote on Strike Amid Contract Dispute
Boeing is on the edge of a potential production shutdown as thousands of its factory workers vote on whether to strike in response to a contract offer they find unsatisfactory. 
Boeing is on the edge of a potential production shutdown as thousands of its factory workers vote on whether to strike in response to a contract offer they find unsatisfactory. -
JPMorgan and Bank of America Set 80-Hour Workweek Limits Following Outcry Over Employee Death
In the wake of the tragic death of Leo Lukenas, a 35-year-old Bank of America associate who reportedly logged 100-hour workweeks, two of Wall Street's largest financial institutions-JPMorgan Chase and Bank of America-are taking significant steps to address the grueling work hours of their junior employees. 
In the wake of the tragic death of Leo Lukenas, a 35-year-old Bank of America associate who reportedly logged 100-hour workweeks, two of Wall Street's largest financial institutions-JPMorgan Chase and Bank of America-are taking significant steps to address the grueling work hours of their junior employees. -
GameStop's Stock Slumps Amid Revenue Drop Despite Surprise Profit and Store Closure Plans
GameStop, the video game retailer that became the poster child of the 2021 meme stock frenzy, is once again in the spotlight. Despite reporting a surprising profit in its latest quarter, the company's stock took a significant hit, falling 10% in premarket trading. The sharp drop comes as investors express concerns over a steep decline in revenue and lingering doubts about the company's long-term viability. 
GameStop, the video game retailer that became the poster child of the 2021 meme stock frenzy, is once again in the spotlight. Despite reporting a surprising profit in its latest quarter, the company's stock took a significant hit, falling 10% in premarket trading. The sharp drop comes as investors express concerns over a steep decline in revenue and lingering doubts about the company's long-term viability. -
JPMorgan Shares Plummet as Bank Warns of Lower Interest Income Amid Fed Rate Cuts
JPMorgan Chase, the largest bank in the United States by assets, saw its stock plummet over 5% on Tuesday following a warning from the bank's president, Daniel Pinto, regarding overly optimistic expectations for the bank's net interest income (NII) in 2025. The announcement comes at a critical juncture as the Federal Reserve is widely expected to begin a series of interest rate cuts, which could significantly impact the bank's earnings from interest payments. 
JPMorgan Chase, the largest bank in the United States by assets, saw its stock plummet over 5% on Tuesday following a warning from the bank's president, Daniel Pinto, regarding overly optimistic expectations for the bank's net interest income (NII) in 2025. The announcement comes at a critical juncture as the Federal Reserve is widely expected to begin a series of interest rate cuts, which could significantly impact the bank's earnings from interest payments. -
Starbucks’ CEO Brian Niccol Outlines Plan to Reinvigorate U.S. Operations Amid Slumping Sales
In his first week as Starbucks' new CEO, Brian Niccol has set a clear agenda: to steer the iconic coffee chain back to its roots as a welcoming community coffeehouse, while addressing declining sales and customer dissatisfaction. Niccol, who officially took the helm on Monday, outlined his vision in a letter to employees, customers, and stakeholders, emphasizing the need for immediate improvements in the company's U.S. operations. 
In his first week as Starbucks' new CEO, Brian Niccol has set a clear agenda: to steer the iconic coffee chain back to its roots as a welcoming community coffeehouse, while addressing declining sales and customer dissatisfaction. Niccol, who officially took the helm on Monday, outlined his vision in a letter to employees, customers, and stakeholders, emphasizing the need for immediate improvements in the company's U.S. operations. -
Bank of America Raises Minimum Wage to $24 Amid Industry-Wide Talent Struggles
Bank of America is taking another significant step to attract and retain talent in a fiercely competitive labor market by raising its minimum hourly wage to $24. The increase, which goes into effect in October, brings the bank closer to its previously announced goal of reaching a $25 minimum wage by 2025. 
Bank of America is taking another significant step to attract and retain talent in a fiercely competitive labor market by raising its minimum hourly wage to $24. The increase, which goes into effect in October, brings the bank closer to its previously announced goal of reaching a $25 minimum wage by 2025. -
Big Lots Files for Bankruptcy Amid Acquisition, Set to Close More Stores
Big Lots, the discount retail chain known for its budget-friendly home goods and furniture, has announced that it is filing for Chapter 11 bankruptcy as it prepares to be acquired by Nexus Capital Management. The Ohio-based company, which operates nearly 1,400 stores across 48 states, is facing significant restructuring as it navigates financial difficulties and a changing retail landscape. 
Big Lots, the discount retail chain known for its budget-friendly home goods and furniture, has announced that it is filing for Chapter 11 bankruptcy as it prepares to be acquired by Nexus Capital Management. The Ohio-based company, which operates nearly 1,400 stores across 48 states, is facing significant restructuring as it navigates financial difficulties and a changing retail landscape.
