Microsoft Will Need to Get ‘Call of Duty’ Back on Target
For all the obstacles Microsoft MSFT; still faces in its effort to acquire Activision Blizzard, getting the deal done might actually turn out to be the easy part.
Just Eat Takeaway considering sale of Grubhub
Dive Brief:Just Eat Takeaway is “exploring the introduction of a strategic partner into and/or the partial or full sale of Grubhub,” the company said in its Q1 2022 earnings release on Wednesday. JET originally bought Grubhub in 2020.JET CEO Jitse Groen confirmed with analysts on the call that management is having active discussions around Grubhub,…
Bilibili, DouYu Rise in U.S. as China Ends Video Game Freeze
Shares of Chinese video-game makers and live-streaming platforms rallied on Monday, after China approved the first batch of new video game licenses since July.
Alibaba, Didi Fuel $80 Billion Rally for Chinese Stocks in U.S.
Alibaba Group Holding Ltd. and Didi Global Inc. rallied for a second day, adding $80 billion in value to U.S. listed Chinese stocks as fears of potential delistings eased. The Nasdaq Golden Dragon China Index jumped as much as 6.1% Monday, adding to Friday’s climb after Beijing regulators published revised draft rules scrapping requirements that…
Lululemon forecasts strong 2022, plans selective price hikes
Lululemon Athletica (LULU.O) on Tuesday forecast full-year profit and revenue above estimates as demand for athletic wear remains consistent even as people return to offices, and said it plans selective price increases on some of its products. Shares of the yogawear maker rose about 8% in extended trading as the company also posted better-than-expected fourth-quarter…
Uber, Lyft drivers consider quitting as pain at the gas pump grows
A number of Uber (UBER.N) and Lyft (LYFT.O) drivers are considering quitting the app-based ride-hailing platforms as fueling up becomes costlier, with some calling the newly announced surcharges “insulting”. The companies announced this month a 55-cent per-ride surcharge that would be paid directly to drivers, in response to record gas prices because of the Ukraine…
Zoom Has Some Tough Calls to Make
For those still inclined to think of Zoom Video Communications ZM; as a “pandemic stock,” consider that Covid-19 has well outlasted that status. Zoom shares hit their all-time high in mid-October of 2020, just weeks before news of the first vaccine breakthrough helped the world see an end to ceaseless video meetings and awkward happy…
Macy’s earnings top estimates, retailer says it won’t spin off e-commerce from stores
Macy’s on Tuesday reported fiscal fourth-quarter earnings and sales that outpaced analysts’ estimates and said that a strategic review has prompted the retailer to accelerate its turnaround plans. It is rejecting calls from activist Jana Partners for it to split its e-commerce operations from its stores, following a similar move by Saks Fifth Avenue. Macy’s…
Inflation Alert: McDonald’s Big Mac Is Outpacing Cost of Living, Price up 40%
The price of a McDonald’s Big Mac burger has risen 40% over the last 10 years, CNBC reported, and because its price incorporates many economic factors, many believe this popular fast food item is one way to understand current inflation rates and purchasing power of the U.S. dollar. CNBC Select analyzed the “Big Mac index,”…
Shake Shack forecasts slim sales as Omicron surge hurts
Shake Shack forecast first-quarter revenue below estimates as the fast-spreading Omicron variant kept diners away and led to temporary restaurant closures, sending the burger chain’s shares down 10% in extended trading. Benefits from easing COVID-19 Delta infections were short-lived for Shake Shack as the Omicron wave that soon followed dissuaded customers from venturing out, infected…