Johnson & Johnson (J&J) reported strong second-quarter earnings, exceeding Wall Street estimates on robust drug sales. Key drivers included the cancer treatment Darzalex and the blockbuster psoriasis drug Stelara, which saw sales increase by 18.4% …
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Domino’s Pizza Reports Sales Miss Due to Inflationary Pressures
Domino’s Pizza, the world’s largest pizza chain, reported a miss in quarterly same-store sales estimates. This shortfall can be attributed to inflationary pressures, which have discouraged consumers, particularly those with lower incomes, from eating out …
Continue readingExxon and Chevron Clash Over Guyana Oil Asset in $53 Billion Hess Acquisition
ExxonMobil is challenging Chevron’s proposed $53 billion acquisition of Hess in arbitration. The dispute hinges on whether the transaction constitutes a “change of control” of Hess’s valuable oil asset in Guyana, triggering Exxon’s pre-emptive right. …
Continue readingFormer Goldman Sachs and Blackstone Analyst Sentenced to Prison for Insider Trading
A former analyst at Goldman Sachs and Blackstone, Anthony Viggiano, was sentenced to 28 months in prison for insider trading on Wednesday. Viggiano, 27, pleaded guilty in January to securities fraud after admitting to passing …
Continue readingNetflix’s Ad-Supported Tier Shows Strength Amid Slowing Subscriber Growth
Netflix’s ad-supported tier continues to gain traction, even as the streaming giant saw slower subscriber growth in the second quarter. The company is expected to report a significant increase in ad revenue, driven by the …
Continue readingUS to Limit Chinese Software in Connected Cars, Sparking Concerns
The US Commerce Department is set to release proposed rules in August that will restrict the use of certain software components from China and other countries deemed adversaries in connected vehicles. The rules are expected …
Continue readingAmazon Prime Day 2024 Expected to Break Spending Records with $14 Billion in Sales
Amazon Prime Day, the annual two-day shopping event, is projected to break spending records in 2024, reaching an estimated $14 billion in sales, according to Adobe Analytics. This represents a 10.5% increase from last year’s …
Continue readingKeystone XL Pipeline Claim Dismissed by US Tribunal: TC Energy Loses $15 Billion Bid
TC Energy, a Canadian pipeline company, has suffered a major setback in its attempt to recover billions of dollars from the US government for the cancellation of the Keystone XL pipeline project. A free trade …
Continue readingWarner Bros Discovery: Asset Sale Up, NBA Rights Down
Shares of Warner Bros Discovery (WBD) surged over 6% on Tuesday after Bank of America (BofA) Global Research suggested the company explore strategic options, including asset sales, to unlock shareholder value. BofA recommended a potential …
Continue readingUnitedHealth Beats Earnings Estimates Despite Cyberattack Impact
UnitedHealth Group, the largest US health insurer, reported strong second-quarter earnings, exceeding analysts’ expectations. However, the company expects a bigger hit to its annual profit from a February hack at its technology unit, Change Healthcare. …
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