Jonathan Wong
The Latest
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Jersey Mike’s Subs Secures $8 Billion Blackstone Deal to Fuel Global Expansion
Blackstone announced Tuesday that it has acquired a majority stake in Jersey Mike's Subs, valuing the fast-growing sandwich chain at approximately $8 billion. The investment is set to accelerate Jersey Mike's expansion, bolstering its technological capabilities and fueling plans for a broader global footprint. 
Blackstone announced Tuesday that it has acquired a majority stake in Jersey Mike's Subs, valuing the fast-growing sandwich chain at approximately $8 billion. The investment is set to accelerate Jersey Mike's expansion, bolstering its technological capabilities and fueling plans for a broader global footprint. -
Walmart Gains Ground with High-Income Shoppers, Boosts Holiday Sales Outlook
Walmart has raised its annual sales and profit forecast for the third consecutive time, reflecting the retailer's confidence ahead of the crucial holiday shopping season. The world's largest retailer announced Tuesday that its U.S. same-store sales rose by 5.3% for the quarter ending October 31, beating Wall Street expectations and signaling strong momentum heading into the holidays. 
Walmart has raised its annual sales and profit forecast for the third consecutive time, reflecting the retailer's confidence ahead of the crucial holiday shopping season. The world's largest retailer announced Tuesday that its U.S. same-store sales rose by 5.3% for the quarter ending October 31, beating Wall Street expectations and signaling strong momentum heading into the holidays. -
Tesla Stock Surges as Trump Administration Plans Federal Framework for Self-Driving Cars
Tesla shares surged more than 6% in premarket trading on Monday following reports that President-elect Donald Trump's incoming administration intends to prioritize a federal regulatory framework for self-driving vehicles. 
Tesla shares surged more than 6% in premarket trading on Monday following reports that President-elect Donald Trump's incoming administration intends to prioritize a federal regulatory framework for self-driving vehicles. -
Spirit Airlines Files for Chapter 11 Bankruptcy
Spirit Airlines, the ultra-low-cost carrier known for its budget-friendly travel options, announced on Monday that it has filed for Chapter 11 bankruptcy protection as it grapples with significant financial challenges. The Dania Beach, Florida-based airline cited mounting debt, persistent losses, and the fallout from a failed merger with JetBlue earlier this year as key drivers of its decision. Despite the filing, Spirit assured customers that ticket sales and operations will continue uninterrupted, including during the upcoming Thanksgiving holiday travel surge. 
Spirit Airlines, the ultra-low-cost carrier known for its budget-friendly travel options, announced on Monday that it has filed for Chapter 11 bankruptcy protection as it grapples with significant financial challenges. The Dania Beach, Florida-based airline cited mounting debt, persistent losses, and the fallout from a failed merger with JetBlue earlier this year as key drivers of its decision. Despite the filing, Spirit assured customers that ticket sales and operations will continue uninterrupted, including during the upcoming Thanksgiving holiday travel surge. -
Elon Musk’s X Corp. Joins Alex Jones’ Infowars Bankruptcy Battle
Attorneys representing Elon Musk's X Corp., the parent company of the social media platform formerly known as Twitter, filed a notice of appearance in Alex Jones' ongoing Infowars bankruptcy case, raising questions about the company's interest in the proceedings. 
Attorneys representing Elon Musk's X Corp., the parent company of the social media platform formerly known as Twitter, filed a notice of appearance in Alex Jones' ongoing Infowars bankruptcy case, raising questions about the company's interest in the proceedings. -
Morgan Stanley Reaffirms Xiaomi as Top Pick Ahead of Q3 Earnings, Predicts 25% Upside
Xiaomi's foray into the electric vehicle (EV) market has propelled the company to what Morgan Stanley calls its "best-ever" quarterly report, with revenue reaching an all-time high in its second-quarter results. Ahead of Xiaomi's Q3 earnings report next Monday, the investment bank has reaffirmed its optimistic stance on the company, urging investors not to "exit too soon." 
Xiaomi's foray into the electric vehicle (EV) market has propelled the company to what Morgan Stanley calls its "best-ever" quarterly report, with revenue reaching an all-time high in its second-quarter results. Ahead of Xiaomi's Q3 earnings report next Monday, the investment bank has reaffirmed its optimistic stance on the company, urging investors not to "exit too soon." -
GM Lays Off 1,000 Workers Amid Cost-Cutting and Strategic Shift to Electric Vehicles
General Motors (GM) announced on Friday that it has laid off roughly 1,000 employees as part of an effort to reduce costs and adapt to evolving market dynamics. According to a source familiar with the matter, the decision to implement the job cuts was driven by a need to streamline operations, enhance efficiency, and shift priorities within the organization amid fluctuating economic and market conditions. 
General Motors (GM) announced on Friday that it has laid off roughly 1,000 employees as part of an effort to reduce costs and adapt to evolving market dynamics. According to a source familiar with the matter, the decision to implement the job cuts was driven by a need to streamline operations, enhance efficiency, and shift priorities within the organization amid fluctuating economic and market conditions. -
Alibaba Posts Strong Profit Growth Amid China’s Economic Slump, Shares Rise 3%
Alibaba Group Holding Ltd. (NYSE: BABA) reported a notable increase in net income for its fiscal second-quarter ending September 30, beating Wall Street's profit expectations despite facing challenges in consumer spending amid a weakening Chinese economy. However, revenue growth fell slightly short of estimates, reflecting economic uncertainties and a fragile retail environment. 
Alibaba Group Holding Ltd. (NYSE: BABA) reported a notable increase in net income for its fiscal second-quarter ending September 30, beating Wall Street's profit expectations despite facing challenges in consumer spending amid a weakening Chinese economy. However, revenue growth fell slightly short of estimates, reflecting economic uncertainties and a fragile retail environment. -
U.S. Secures $6.6 Billion TSMC Deal to Strengthen Semiconductor Production in Phoenix
The U.S. Department of Commerce has finalized a $6.6 billion subsidy agreement with Taiwan Semiconductor Manufacturing Co. (TSMC) to strengthen semiconductor production in Phoenix, Arizona. The deal, announced on Friday, is a key component of the $52.7 billion CHIPS and Science Act, which aims to revitalize domestic semiconductor manufacturing and reduce reliance on foreign sources. 
The U.S. Department of Commerce has finalized a $6.6 billion subsidy agreement with Taiwan Semiconductor Manufacturing Co. (TSMC) to strengthen semiconductor production in Phoenix, Arizona. The deal, announced on Friday, is a key component of the $52.7 billion CHIPS and Science Act, which aims to revitalize domestic semiconductor manufacturing and reduce reliance on foreign sources. -
Disney Posts Strong Earnings as Streaming Profitability Sparks Optimism, Stock Surges
Disney's stock surged Thursday following a robust fiscal fourth-quarter earnings report, which surpassed Wall Street's expectations, driven by a profitable quarter for its direct-to-consumer streaming segment. The entertainment giant's shares climbed over 10% in early trading, later paring gains to a 6% increase by afternoon. 
Disney's stock surged Thursday following a robust fiscal fourth-quarter earnings report, which surpassed Wall Street's expectations, driven by a profitable quarter for its direct-to-consumer streaming segment. The entertainment giant's shares climbed over 10% in early trading, later paring gains to a 6% increase by afternoon.
