Jonathan Wong
The Latest
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CVS Health Cuts Profit Outlook Amid Rising Medical Costs and Leadership Changes
CVS Health Corporation (CVS) has once again revised its profit outlook for 2024, marking the third consecutive quarter the healthcare giant has had to lower its forecast. The company attributed the latest downgrade to escalating medical costs, which have been squeezing its insurance business. In a related move, Aetna President Brian Kane, the top executive of the CVS-owned insurance unit, will leave the company immediately, with CEO Karen Lynch taking over his responsibilities. 
CVS Health Corporation (CVS) has once again revised its profit outlook for 2024, marking the third consecutive quarter the healthcare giant has had to lower its forecast. The company attributed the latest downgrade to escalating medical costs, which have been squeezing its insurance business. In a related move, Aetna President Brian Kane, the top executive of the CVS-owned insurance unit, will leave the company immediately, with CEO Karen Lynch taking over his responsibilities. -
Disney's Streaming Unit Turns First Profit Amid Park Division Slump
Disney (DIS) announced that its streaming division has turned a profit for the first time. However, this milestone was dampened by weaker performance in its parks division, attributed to a "moderation of consumer demand" towards the end of the quarter. 
Disney (DIS) announced that its streaming division has turned a profit for the first time. However, this milestone was dampened by weaker performance in its parks division, attributed to a "moderation of consumer demand" towards the end of the quarter. -
Airbnb Shares Plunge as Company Warns of Slowing U.S. Demand
Airbnb's shares fell sharply by 16.64% in after-hours trading on Tuesday, following the company's announcement of second-quarter earnings that missed analyst expectations and a warning of slowing demand from U.S. customers. 
Airbnb's shares fell sharply by 16.64% in after-hours trading on Tuesday, following the company's announcement of second-quarter earnings that missed analyst expectations and a warning of slowing demand from U.S. customers. -
Super Micro's 10-for-1 Stock Split Announcement Overshadowed by Earnings Miss, Stock Plunges 13%
Super Micro Computer, a prominent server manufacturer, experienced a significant drop in its stock price on Tuesday following the announcement of its fiscal fourth-quarter earnings, which fell short of Wall Street expectations. The company's shares plummeted 13% despite also revealing a 10-for-1 stock split, set to commence trading on a split-adjusted basis on October 1. 
Super Micro Computer, a prominent server manufacturer, experienced a significant drop in its stock price on Tuesday following the announcement of its fiscal fourth-quarter earnings, which fell short of Wall Street expectations. The company's shares plummeted 13% despite also revealing a 10-for-1 stock split, set to commence trading on a split-adjusted basis on October 1. -
Saudi Aramco Faces Profit Drop Amid Lower Crude Volumes, Yet Commits to Massive $31.1 Billion Dividend Payout
Saudi Aramco, the world's most profitable oil company and a cornerstone of Saudi Arabia's economy, reported a 3.4% decline in its second-quarter profits, primarily due to lower crude volumes and softer refining margins. Despite this dip, the company maintained its substantial dividend payouts, announcing $31.1 billion in dividends for the quarter, a move that highlights its commitment to shareholder returns amid fluctuating market conditions. 
Saudi Aramco, the world's most profitable oil company and a cornerstone of Saudi Arabia's economy, reported a 3.4% decline in its second-quarter profits, primarily due to lower crude volumes and softer refining margins. Despite this dip, the company maintained its substantial dividend payouts, announcing $31.1 billion in dividends for the quarter, a move that highlights its commitment to shareholder returns amid fluctuating market conditions. -
SunPower Files for Bankruptcy Amid Allegations and Market Struggles
In a significant blow to the residential solar industry, SunPower Corp., a prominent name in U.S. solar energy, has filed for Chapter 11 bankruptcy protection. The rooftop solar installer, known for its high-efficiency panels and widespread residential installations, cited high interest rates, allegations of financial misconduct, and a general decline in demand as key factors in its downfall. 
In a significant blow to the residential solar industry, SunPower Corp., a prominent name in U.S. solar energy, has filed for Chapter 11 bankruptcy protection. The rooftop solar installer, known for its high-efficiency panels and widespread residential installations, cited high interest rates, allegations of financial misconduct, and a general decline in demand as key factors in its downfall. -
German Retail Giant Rossmann Cuts Ties with Tesla Over Musk's Politics
Germany's Rossmann, one of Europe's largest drugstore chains, has announced it will cease purchasing Tesla vehicles for its fleet due to the political views expressed by Tesla CEO Elon Musk. This decision underscores growing concerns about the alignment between corporate values and executive actions, particularly in the context of Musk's vocal support for former President Donald Trump and his controversial social media platform X, formerly known as Twitter. 
Germany's Rossmann, one of Europe's largest drugstore chains, has announced it will cease purchasing Tesla vehicles for its fleet due to the political views expressed by Tesla CEO Elon Musk. This decision underscores growing concerns about the alignment between corporate values and executive actions, particularly in the context of Musk's vocal support for former President Donald Trump and his controversial social media platform X, formerly known as Twitter. -
Google Faces Potential Breakup After Losing Major Antitrust Case
A U.S. judge has declared that Google violated antitrust laws by creating and maintaining an illegal monopoly over the search market. This decision, handed down by U.S. District Judge Amit Mehta on Monday, marks a significant victory for federal authorities aiming to curb Big Tech's dominance and could reshape how millions of Americans access information online. 
A U.S. judge has declared that Google violated antitrust laws by creating and maintaining an illegal monopoly over the search market. This decision, handed down by U.S. District Judge Amit Mehta on Monday, marks a significant victory for federal authorities aiming to curb Big Tech's dominance and could reshape how millions of Americans access information online. -
Google Loses Major Antitrust Case Over Search Dominance
In a landmark ruling that could reshape the digital landscape, Google was found to have violated U.S. antitrust laws by using its search business to maintain a monopoly, according to a decision by U.S. District Judge Amit Mehta on Monday. This significant defeat for the tech giant could have far-reaching implications for how Americans access information online and potentially disrupt Google's long-standing dominance. 
In a landmark ruling that could reshape the digital landscape, Google was found to have violated U.S. antitrust laws by using its search business to maintain a monopoly, according to a decision by U.S. District Judge Amit Mehta on Monday. This significant defeat for the tech giant could have far-reaching implications for how Americans access information online and potentially disrupt Google's long-standing dominance. -
Apple Shares Tumble as Buffett Halves Stake Amid Market Turmoil
Warren Buffett's Berkshire Hathaway announced over the weekend that it had slashed its Apple stake by half. The revelation caused a dramatic decline in Apple's stock price on Monday, reflecting the broader global sell-off spurred by concerns of an economic slowdown. 
Warren Buffett's Berkshire Hathaway announced over the weekend that it had slashed its Apple stake by half. The revelation caused a dramatic decline in Apple's stock price on Monday, reflecting the broader global sell-off spurred by concerns of an economic slowdown.
