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 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…
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…
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 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…
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 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…
DoorDash Inc (DASH.N) reported quarterly revenue on Wednesday that beat estimates as food delivery demand showed no sign of slowing, indicating ordering habits have changed permanently, sending the company’s shares up 24% after the bell. Analysts have said people have grown accustomed to having food delivered to their doorsteps after frequently ordering in during the…
Tonal, known for its $2,995 at-home gym, is using a Super Bowl ad to make a point to women that they can use strength training equipment just like men. A new campaign starring tennis champion Serena Williams, who was also an early Tonal investor, aims to debunk the idea that women will get “very muscular”…
Beleaguered fitness company Peloton said Tuesday it will replace CEO and co-founder John Foley as the brand seeks to win back market and consumer confidence. Barry McCarthy, who has held leadership roles at Spotify and Netflix, will become the new CEO, effective Wednesday, the company announced. “Today’s leadership changes are the culmination of a succession…