Business

Lowe’s on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $1.04 adjusted, vs. 98 cents expected Revenue: $17.4 billion vs. $17.36 billion expected CEO Marvin Ellison started at Lowe’s in
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Mitsubishi will propose removing embattled executive Carlos Ghosn from its board of directors, the company said Monday. Ghosn, who is chairman and CEO of the strategic alliance among French automaker Renault and Japanese carmakers Nissan and Mitsubishi, was arrested Monday in Tokyo on charges of making misleading financial statements to regulators, Mitsubishi said Monday. Nissan
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UBS said General Electric will be able to reduce its debt “to far more acceptable levels by 2020,” despite fears the industrial conglomerate’s bonds could soon become junk-rated. That debt is “far and away” the most pressing concern for GE investors, said UBS analyst Steven Winoker in a note on Monday. That concern was abundantly
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Former first lady Michelle Obama’s memoir “Becoming” has become the fastest-selling book of 2018 at Barnes & Noble, surpassing the Trump administration tell-all “Fear: Trump in the White House” by veteran journalist Bob Woodward. In addition to being this year’s fastest seller, Barnes & Noble also announced that “Becoming” had the best first-week sales of
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Each of the five ‘FAANG’ stocks slipped into a bear market during Monday trading. The FAANG stocks – Facebook, Amazon, Apple, Netflix and Google-parent Alphabet – have fallen steadily over the last 6 weeks as the companies delivered disappointing earnings and mixed forecasts. Facebook in particular has been hard hit during this round of selling,
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Several U.S senators on Friday pressed Facebook for answers related to claims the company hired contractors to “retaliate against or spread intentionally inflammatory information about their critics,” according to a letter addressed to Facebook CEO Mark Zuckerberg. “We are gravely concerned by recent reports indicating that your company used contractors to retaliate against or spread
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Tesaro shares soared 39 percent Friday upon a Bloomberg report that the pharmaceutical company will explore the opportunity of a sale. This comes exactly one week after Tesaro fell more than 20 percent during after-hours trading after the release of drug trial results. A spokesperson declined to comment. This story is developing. Please check back
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Global CEOs are seeing a bit of a slowdown outside the United States, but that’s not what U.S. chief executives are saying about the nation’s economy, according to Steve Odland, president and CEO of The Conference Board. The organization, a global, independent business membership and research association, conducts a number of CEO and confidence studies.
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Channing Dungey, the president of ABC Entertainment, has resigned. Karey Burke, the head of original programming for Freeform, has been chosen to head the company. She will be responsible for all development, programming, casting, marketing, business and scheduling for ABC prime time and late-night. Dungey was the first African American to lead a U.S. broadcast
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Gamers have spent an estimated $135 billion on games in 2018, according to Newzoo. But it isn’t just the big-name gaming companies that are making tons of cash — the gamers are, too. Gaming enthusiasts have turned playing video games into a full-time job that can earn some of them millions of dollars before age
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Nike has opened a new cutting-edge, 68,000 square foot flagship store in New York City that executives hope will change the way consumers shop for their favorite sneakers and apparel. The “House of Innovation 000” is an immersive shopping experience that combines traditional shopping with the company’s digital app to create a futuristic shopping experience.
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