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Michael Kors Announces Plan To Close Many Locations
Michael Kors (NYSE:KORS) has announced plans to close 100 to 125 full-price stores over the next two years. As of April 1, the company had 827 retail locations. The company will be holding an investor day at its New York headquarters... More of this article »
Sears Q1 Earnings Report Shows Promise
Sears Holdings Corp. (NASDAQ:SHLD) has just reported its first quarterly profit in nearly two years. Net income attributable to Sears’ shareholders was $244 million, or $2.28 per share. On an adjusted basis, the company reported... More of this article »
Supreme Court Ruling Deals Blow To Patent Trolls
A ruling made by the U.S. Supreme Court on Monday may make it harder for dodgy patent lawsuits to be filed in friendly courts. The decision came from a legal battle between beverage flavoring company TC Heartland LLC and food and beverage... More of this article »
AT&T Strike Closes Some Wireless Stores
Some AT&T (NYSE:T) wireless retail stores across the country were closed on Saturday as striking workers picketed outside. Reports came of sporadic store closings from Montana to Bangor, Maine. This was the first labor strike... More of this article »
Dunkin’ Donuts Launches Nationwide Tasting Event For New Product
Dunkin’ Donuts (NASDAQ:DNKN) has launched a nationwide tasting event to give away free samples of its new summer drink on Friday. The new Frozen Dunkin’ Coffee is made with a special extract featuring 100 percent Arabica coffee... More of this article »
Qualcomm Goes After Apple’s Contract Manufacturers Over Royalties
Qualcomm Inc. (NASDAQ:QCOM) is now suing several Apple Inc. (NASDAQ:AAPL) contract manufacturers for failure to pay patent royalties. Qualcomm filed its complaint in federal court in San Diego. The company says that four Asian contract... More of this article »
Sears Launches Lawsuit Against Tool Vendor
Sears (NASDAQ:SHLD) has filed a lawsuit against top tool vendor One World Technologies for allegedly refusing to honor its contract with the retailer. One World Technologies is a subsidiary of China-based Techtronic Industries. The... More of this article »
General Motors Launches Maven In NYC
General Motors (NYSE:GM) launched Maven, its new ride-sharing service, in New York City on Monday. NYC is a key market for Maven, and could be one of its strongest, given the urban density. The service will initially have 80 cars available... More of this article »
Time Inc. Reports Another Sales Decline
Time Inc. (NYSE:TIME) reported another drop in quarterly sales in the first quarter of its fiscal year, ended March 31. On its earnings call Wednesday, Time reported a loss of $28 million, or 29 cents per share in the first quarter,... More of this article »
21st Century Fox Sets Sights On Tribune Media
Reports have emerged that 21st Century Fox (NASDAQ:FOX) is in talks with private equity firm Blackstone to launch a joint bid for Tribune Media (NYSE:TRCO). The companies plan to form a joint venture for the deal, having Blackstone... More of this article »
Under Armour Posts First Loss Since IPO
In the first quarter of fiscal year 2017, Under Armour (NYSE:UA) recorded its first loss since it went public in 2005, posting a $2.27 million loss or 1 cent a share. Discounts have heavily weighed on its results. The company’s first-quarter... More of this article »
A Chipotle Recovery May Be In The Works
Chipotle Mexican Grill Inc. (NYSE:CMG) appears to be recovering after five quarters of declines. The company reported earnings of $1.60 a share last quarter, higher than the $1.29 predicted by analysts. Revenue climbed to $1.07 billion,... More of this article »
General Motors’ Efforts To Limit Lawsuits Fail
General Motors’ (NYSE:GM) request to the U.S. Supreme Court to keep hundreds of lawsuits related to its faulty ignition switches from proceeding has been denied. The company could now be exposed to billions of dollars in additional... More of this article »
Panera Plans To Expand Delivery, Add Jobs
Panera Bread Co. (NASDAQ:PNRA) has announced plans to expand delivery services to more of its cafes and hire 10,000 new employees by the end of the year. It hopes to expand delivery to 35 percent to 40 percent of locations by the end... More of this article »
Wells Fargo Expands Account Scandal Settlement
Banking giant Wells Fargo (NYSE:WFC) has announced that it is expanding the settlement it reached over charges that it fraudulently opened bank and credit accounts in customers’ names. Wells Fargo said it will add $32 million... More of this article »
Verizon Misses Expectations For Q1
Verizon Communications Inc. (NYSE:VZ), the No. 1 U.S. wireless carrier, missed earnings expectations for the first quarter of its fiscal year. Verizon reported net income of $3.45 billion, or 84 cents per share, in the quarter ended... More of this article »
Netflix Misses Growth Target For First Quarter
Netflix (NASDAQ:NFLX) missed its subscriber growth targets for the first quarter. Netflix added nearly 5 million new subscribers in the quarter, 3.5 million of whom were overseas. The streaming service had expected to add a net 5.2... More of this article »
Wells Fargo Announces Further Clawbacks Of Executive Compensation
Wells Fargo (NYSE:WFC) has announced its intentions to claw back tens of millions in additional compensation from top former executives involved in the fake account scandal that rocked the bank last year. The crisis blew up for Wells... More of this article »
Payless ShoeSource Files For Chapter 11 Bankruptcy
Payless ShoeSource has become the latest major retailer to file for Chapter 11 bankruptcy. Payless chief executive W. Paul Jones released a statement saying, “This is a difficult, but necessary, decision driven by the continued challenges... More of this article »
Verizon Announces New Plans For AOL And Yahoo
After Verizon’s (NYSE:VZ) purchase of Yahoo goes through, AOL and Yahoo will be merged into a company known as “Oath.” The company has plans to launch Oath in the coming months, according to an AOL spokeswoman. The... More of this article »
Reports Claim Panera Bread Exploring Possible Sale
Reports have surfaced that Panera Bread (NASDAQ:PNRA) is exploring a possible sale. According to sources close to the company, Panera is working with advisors to look over strategic options after receiving takeover interest. Potential... More of this article »
Alaska Air Ending Virgin America Brand
Alaska Air Group (NYSE:ALK) has announced that it would be retiring the Virgin America brand in 2019. Alaska’s vice president of marketing Sangita Woerner said in a statement, “While the Virgin America name is beloved to many,... More of this article »
Exxon Mobil Admits To Losing Subpoenaed Emails
Exxon Mobil (NYSE:XOM) has admitted in Manhattan Supreme Court that it lost a year’s worth of emails from an alias account used by its former CEO during his tenure. Attorney General Eric Schneiderman made accusations earlier this... More of this article »
McDonald’s Launches Mobile Ordering Beta Test
McDonald’s Corp. (NYSE:MCD) is beta testing mobile ordering at 29 restaurants in Monterey and Salinas, Calif., this week. Next week, the testing will expand to 51 more restaurants in Spokane, Wash. The local pilot tests are designed... More of this article »
American Express Adds More Perks To Platinum Cards
American Express (NYSE:AXP) has announced a number of new perks that will be added to the list for customers holding American Express Platinum cards. All existing benefits will also continue, according to a statement by the company.... More of this article »
Security Breach Costs Yahoo CEO Millions
Yahoo’s (NASDAQ:YHOO) chief executive, Marissa Mayer, has lost her 2016 bonus as a result of the 2014 theft of information from more than 500 million Yahoo accounts. Ms. Mayer said in her statement that she was unaware of the breach... More of this article »
Target To Invest $7B In Upgrades
Target Corp. (NYSE:TGT) has announced plans to invest $7 billion in upgrades to the business over the next three years. Target expects fiscal 2017 and 2018 to be investment years as a result of these initiatives, with the company returning... More of this article »
United Airlines Adding New Routes And Aircraft In Expansion
United Airlines, a unit of United Continental Holdings (NYSE: UAL), has announced a major expansion that includes 4 new cities and 31 new routes. United president Scott Kirby said, “Starting this summer we ‘re offering more... More of this article »
Kate Spade Seeking Buyer
Kate Spade (NYSE:KATE) is reportedly seeking a buyer for its business. The company confirmed that it is examining “strategic alternatives” for the business. CEO Craig Leavitt stated that the company was “exploring... More of this article »
Honda Partners With Hitachi On Electric Car Venture
Honda Motor Co. (HMC) plans to partner with Hitachi Automotive Systems Ltd., a wholly owned subsidiary of Hitachi Ltd. (HTHIY), in a joint venture to develop, produce and sell motors for electric vehicles. The joint venture, which... More of this article »
Apple Weighs Legal Options Against President’s Travel Ban
Apple (NASDAQ:AAPL) is reportedly considering joining the legal fight against the Trump administration’s executive order on immigration. The order suspends entry of all refugees to the United States for 120 days. It also blocks citizens... More of this article »
Aetna Accused Of Falsifying Reasons For Exiting Health Exchanges
U.S. District Judge John Bates issued a 158-page ruling on Monday blocking Aetna’s (NYSE:AET) merger with Humana (NYSE:HUM) due to anti-competitive concerns. The Department of Justice sued to block the merger in July of last... More of this article »
Western Union Reaches Settlement On Fraud Charges
Western Union Co. (NYSE:WU) has reached a settlement with U.S. regulators over charges that the bank failed to stop money laundering and wire fraud. The bank agreed to pay $586 million as part of the settlement. The penalty was imposed... More of this article »
Fiat Chrysler Accused Of Cheating On Emissions Tests
The Environmental Protection Agency has accused Fiat Chrysler (NYSE:FCAU) of cheating on emissions test by using specialized software. The EPA says that the company installed software on certain diesel trucks that allowed them to emit... More of this article »
T-Mobile Launches New Initiatives That Benefit Customers
T-Mobile (NYSE:PCS) is continuing on its path to disrupt the wireless industry. The company recently announced a number of new initiatives that are designed to increase transparency and make things easier for their customers. Beginning... More of this article »
Disney Sued Over Worker Discrimination Allegations
A group of information technology workers have sued Walt Disney Parks and Resorts (NYSE:DIS) over alleged workplace discrimination violations. The 30 laid off IT workers says they were fired and replaced by contractors from India,... More of this article »
Boeing Seals $16.6B Deal With Iran
Boeing Co. (NYSE:BA) has completed the first major agreement between a U.S. company and Iran by clinching a deal to sell 80 jetliners to the Islamic Republic. The Boeing deal, first announced in June, is valued at $16.6 billion. U.S.... More of this article »
Chipotle Turns Its Focus To Improving Customer Service
Even Chipotle Mexican Grill (NYSE:CMG) thinks a lot of its restaurants leave a lot to be desired. Chipotle co-founder and CEO Steve Ells admits that he doesn’t think his restaurants are run well enough to bring customers back. He... More of this article »
Carrier Corp. Offered $7M In Incentives To Retain U.S. Jobs
Carrier Corp. will receive a $7 million incentive package as part of a deal to keep some of its workers in the United States. Carrier will receive $5 million in tax credits over 10 years in exchange for keeping 1,069 jobs at its Indianapolis... More of this article »
Airbnb Agrees To Rental Limits For First Time
Popular home-sharing website Airbnb has agreed to rental limits in two European cities after complaints that the company’s practices were negatively affecting home availability. Critics complain that homeowners using the site can... More of this article »
GoPro Slashing Jobs In Bid To Become Profitable
GoPro Inc. (NASDAQ:GPRO) has announced that it will reduce its workforce by 15 percent in its latest bid to help the company become profitable. That equates to more than 200 full-time positions. The company currently employs approximately... More of this article »
Delta To Debut Premium Economy Service Next Year
Over the past few years, Delta Air Lines (NYSE:DAL) has invested billions of dollars in its cabin modernization program and the customer experience. Now, it is bringing those results to market through its new Delta Premium service.... More of this article »
Wells Fargo Investigating Leadership’s Role In Account Scandal
Wells Fargo & Co. (NYSE:WFC) is continuing to investigate the circumstances surrounding the recent account scandal that rocked all levels of the company. A generation of executives thrived in the ambitious sales culture promoted... More of this article »
Caterpillar Woes Continue With Weak Demand In 3Q
Caterpillar Inc. (NYSE:CAT) continues to suffer in the global commodities bust. Sales of construction, mining and oil equipment remain weak. Caterpillar is currently the world’s largest maker of mining and construction equipment,... More of this article »
Amazon Ramps Up Holiday Hiring By 20%
Amazon (NASDAQ:AMZN) announced that it would be increasing the number of seasonal associates it hires for the holidays by 20 percent this year. Amazon will be hiring more than 120,000 temporary workers for this holiday season. The... More of this article »
Viacom And CBS May Be Merging Soon
CBS and Viacom Inc. (NASDAQ:VIA) may be getting back together after spending nearly a decade apart. Reports emerged Thursday that they are considering a merger. Viacom bought CBS in 2000. The companies split six years later because... More of this article »
Twitter Inching Closer To A Sale
Twitter’s (NYSE:TWTR) board has reportedly been considering a sale this month. The microblogging service has reportedly started talks with a number of technology companies to sell itself. Speculation that Twitter would be sold has... More of this article »
Mylan Under Fire For Creative Accounting Of EpiPen Profits
The currents swirling around the steep price increases on Mylan NV’s (NASDAQ:MYL) lifesaving EpiPen drug just got a little deeper for the company’s embattled CEO. When the company’s chief executive Heather Bresch testified before... More of this article »