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Jin Lee | Bloomberg | Getty Images Jeremy Stoppelman, chief executive officer of Yelp Inc. Yelp, the review site for restaurants and local businesses, has hired Evercore to help defend the company against an activist investor, who recently called for a board shake-up and potential sale, according to people familiar …
Read More »Monthly Archives: February 2019
Drugmakers invited to hearing on drug prices. Here’s what they’re saying
Drew Angerer | Getty Images Albert Bourla, chief executive officer of Pfizer pharmaceutical company, arrives to ring the closing bell at the New York Stock Exchange, January 17, 2019. Drugmakers have been reluctant to agree to testify before Congress at what is shaping up to be a series of hostile …
Read More »Watches falling out of favor, Capri CEO says, jolting watch stocks
David Paul Morris | Bloomberg | Getty Images A Fossil Group Inc. Q Grant hybrid smartwatch is arranged for a photograph at the 2017 Consumer Electronics Show (CES) in Las Vegas, Nevada, U.S., on Thursday, Jan. 5, 2017. While Capri Holdings just put up a quarter that beat profit expectations, …
Read More »Earnings forecasts are very negative but here’s why it’s not all bad
“For the typical company, are they seeing a problem? The answer is not really. You can get a few bad apples distort the underlying trend,” said Patrick Palfrey, U.S. equities strategist at Credit Suisse. Palfrey said many companies could be growing at 5 percent to 6 percent, above the trend …
Read More »GM doesn’t expect to make money off electric cars until next decade
Bill Pugliano | Getty Images Mary Barra, Chairman and CEO of General Motors, and Mark Reuss, Executive Vice President of GM Global Product Development, reveal the Chevrolet Bolt EV to the news media at the 2016 North American International Auto Show January 11th, 2016 in Detroit, Michigan. General Motors does …
Read More »JC Penney will stop selling appliances at the end of this month
Saul Martinez | Bloomberg | Getty Images Shoppers browse appliances at the JC Penney store inside the Roosevelt Field Mall in Garden City, New York. J.C. Penney is getting out of the appliance business, marking the first major change by new CEO Jill Soltau since she joined the struggling department …
Read More »Natural disasters cost $91 billion in 2018: Federal report
Gene Blevins | Reuters Firefighters battle to save one of many homes burning in an early-morning Creek Fire that broke out in the Kagel Canyon area in the San Fernando Valley north of Los Angeles, in Sylmar, California, U.S., December 5, 2017. Natural disasters cost the country $91 billion in …
Read More »Alphabet’s most ambitious health projects
Thomas Peter | Reuters A man walks past the brand logo of Alphabet Inc’s Google outside its office in Beijing, China, August 8, 2018. Alphabet’s Verily unit said on Wednesday that’s it taking on the opioid crisis, joining with two health networks to build a tech-infused rehab campus in Dayton, …
Read More »US sanctions bill targets China’s ZTE
Johannes Eisele | AFP | Getty Images A logo of Chinese telecommunications company ZTE is seen on an office building in Shanghai, China, on May 3, 2018. A bipartisan group of senators introduced a bill on Tuesday that would reimpose sanctions on ZTE if the Chinese telecommunications firm fails to …
Read More »Tesla cuts Model 3 price for second time this year
VCG/VCG | Getty Images A Tesla Model 3 car is on display during the Auto China 2018 at China International Exhibition Center on April 25, 2018 in Beijing, China. Electric carmaker Tesla is lowering the price of its Model 3 by $1,100, citing the end of a costly customer referral …
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