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Category: Business

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Source: marketscreener.com

Update At: 8/8/2024

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Citi earnings show progress in CEO Jane Fraser's overhaul

Citi's second-quarter earnings signal positive results from CEO Jane Fraser's overhaul, with revenue up 4% to $20.1 billion and net income of $3.2 billion. The bank's reorganization led to a 2% decrease in operating expenses. Citi's stock has climbed 24% this year following the restructuring.

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Redbox closes all kiosks, fires 1,000 employees | Kiosk Marketplace

Redbox, a 22-year-old DVD kiosk rental business, is shutting down after its parent company, Chicken Soup for the Soul Entertainment, converted its bankruptcy to Chapter 7 liquidation. The company's 1,000 employees are losing their jobs with no severance or extended benefits.

Kiosk Marketplace

Farewell Redbox: Kiosk-rental business to shut down after 22 years - pennlive.com

Redbox, the video-rental and streaming company, owned by Chicken Soup for the Soul Entertainment, has filed for Chapter 11 bankruptcy protection and is now converting to a Chapter 7 liquidation proceeding. This will result in the closure of approximately 24,000 DVD rental kiosks and the layoff of about 1,000 employees.

pennlive.com

Big Lots is closing up to 40 stores. Will any Arizona locations close?

Big Lots plans to close 35 to 40 stores in 2024 due to economic challenges, including inflation affecting customer buying power. The company reported a decline in sales and an increase in debt, raising concerns about its future operations.

AZCentral.com

Big Lots will close upwards of 40 stores this year

Big Lots is closing upwards of 40 stores due to macroeconomic challenges, resulting in a loss of about $114.5 million. The locations of the stores to be closed remain unknown.

Boston.com

Expectations high for Netflix ahead of earnings call

Netflix is expected to announce strong quarterly earnings with anticipated revenue and subscriber growth, high operating margins, and positive stock performance. Analysts are optimistic about the company's future despite potential challenges like a crackdown on password sharing and the need to sustain growth. Netflix's move into live sports and advertising, along with its strategy to appeal to a wide audience, are key factors driving its success.

Fortune

As cartels take a stake in ‘green gold,’ US and Mexico rethink how avocados reach American kitchens | CNN

Assault on US avocado inspectors in Michoacán led to a temporary halt in avocado imports, highlighting the volatile nature of the industry in the region. The incident raised concerns about corruption, violence, and cartel influence in the avocado trade between the US and Mexico.

CNN

DJT stock skyrockets 60% after Trump assassination attempt By Investing.com

Shares in Trump Media & Technology Group Corp surged in premarket trading following an assassination attempt on former U.S. President Donald Trump. The incident occurred during a rally in Pennsylvania, resulting in injuries to Trump and attendees. The shooter, identified as Thomas Matthew Crooks, prompted calls for an investigation into rally security.

Investing.com

Delta uniform policy change takes effect as airline reeling from Palestinian flag pin controversy | Fox Business

Delta Air Lines implements a new uniform policy allowing only U.S. flags after a social media post featuring flight attendants wearing Palestinian flag pins caused controversy. The airline faced backlash and subsequently apologized for the incident.

Fox Business

DJT stock soars after Donald Trump survives assassination attempt

Trump Media & Technology Group (DJT) saw a surge in stock prices after former President Donald Trump survived an assassination attempt. The incident is not expected to have a lasting impact on Trump's presidential chances. The company, parent of Truth Social, has faced fluctuations in stock prices and financial challenges.

Yahoo Finance