Dollar Tree Falls A Sharp 12% After Guidance Cut Reflects Family Dollar Price Drop
Dollar Tree, Inc. (Nasdaq: DLTR) released on Thursday its financials for the three-month period ended July 30, 2022. The store chain recorded revenue of US$6.77 billion in fiscal Q2 2022, down from Q1 2022’s US$6.90 billion but up from Q2 2021’s US$6.34 billion. It also missed the consensus estimate of US$6.79 billion. “Our second quarter […]
Soaring Electricity Prices Lead 20 Million US Households To Fall Behind On Utility Bills
The United States is facing a “tsunami of shutoffs” as 20 million households, or about 1 in 6 American homes, can’t afford to pay for their power bill, according to Bloomberg. The soaring price of electricity, amid a global energy crunch, has led to what the National Energy Assistance Directors Association (Neada) is said to […]
Amazon Care No More: Tech Giant Is Shutting Down The Health Service By End Of Year
Amazon.com, Inc. (Nasdaq: AMZN) is closing the doors of its roughly three-year old healthcare service Amazon Care. The business unit provided virtual and in-home health service initially for Amazon employees but has since expanded to cater corporate clients. In an internal email sent on Wednesday by Amazon Health Services senior vice president Neil Lindsay to […]
Look for Constellation to Write Off Significant Amount of Canopy Investment
On October 30 2017, Constellation Brands (NYSE: STZ) and Canopy Growth Corp. (NASDAQ: CGC) jointly announced their new “groundbreaking strategic relationship” which would see Constellation invest an initial C$245 million into Canopy. Since that initial announcement, Constellation has continued to add to their position in Canopy with their total cash investment growing to over $4.4 […]
Salesforce Reports US$7.72 Billion In Revenue In Fiscal Q2 2023, Announces Maiden US$10 Billion Share Buyback Program
Salesforce (NYSE: CRM) reported on Wednesday its financial results for fiscal Q2 2023, highlighting revenue of US$7.72 billion. This is an increase from Q1 2023 revenue of US$7.41 billion and from Q2 2022 revenue of US$6.34 billion. “Our results demonstrate the strength and diversity of our product portfolio across regions, industries and segments,” said Co-CEO […]
Mind Medicine Begins Phase 2B Study On Treating Generalized Anxiety Disorder With LSD Variant
Mind Medicine (NEO: MMED) has officially seen patient trials under a Phase 2b study get underway as it looks to find a treatment for generalized anxiety disorder. The firm this morning indicated it has begun dosing its first patients with one of its novel formulations. The novel drug being tested under the clinical trial is […]
Aurora Cannabis Acquires Majority Stake In Former Zenabis Subsidiary Bevo Farms
The Canadian cannabis sector is flailing so bad when it comes to rejuvenating their operations that they’ve begun recycling old ideas in an attempt to make them work again. Aurora Cannabis (TSX: ACB) this morning announced that it would be acquiring a controlling interest in Bevo Agtech, the propagated vegetable and ornamental plant operation previously […]
California To Ban Sale Of Gasoline-Powered Vehicles By 2035
In what may be one of the most stringent zero-emission regulations targeting vehicles, the state of California is expected to finalize a new law that would ban the sale of all new gasoline-powered cars in the state come 2035. As reported by the New York Times, the California Air Resources Board’s unprecedented rule is expected […]
Rise Of The Robots: Has South Korea Cracked Its Labor Problem?
How are South Korean corporations dealing with a labor shortage, a minimum wage hike, and the prospect of a shrinking workforce? With robots, obviously. 2021 data from World Robotics say that South Korea is the most robotized country in the world, with 932 robots for every 10,000 workers. The figure is seven times higher than […]
Jim Chanos Plays The Arbitrage Between AMC And APE
Jim Chanos has made the news again for his comments on AMC Entertainment (NYSE: AMC, APE), although this time it may not be what you suspect. Contrary to many investors expectations, he’s gone long on the equity. As well as short. If that may confuse you at first, the premise is simple. Chanos is treating […]