Macy’s Q3 Net Sales, Comps Down; To Delay Earnings Report; Stock Down In Pre-market
In the latest news from Canada, it has been reported that Canada is suing Google for anti-competitive conduct in online advertising. This issue has raised concerns about fair competition in the online advertising space, and Canada is taking steps to address these concerns.
Shifting our focus to the tech sector, Intel is set to receive a substantial $7.865 billion grant from the government for US semiconductor projects. This grant underscores the importance of semiconductor development in the US and aims to support Intel in their efforts to further innovation in this critical industry.
On a different note, DICK’S Sporting Goods has boosted its fiscal year 2024 outlook, leading to a 7% increase in their stock value. This positive outlook indicates strong performance for the company and reflects well on their future growth potential.
In contrast, Kohl’s has slashed its fiscal year 2024 outlook, resulting in a 13% decrease in their stock value. This shift in outlook highlights the challenges that Kohl’s may be facing in the coming year and has impacted investor confidence in the company.
Meanwhile, J. M. Smucker has raised their fiscal year 2025 adjusted earnings per share and comparable sales growth outlook. This positive update bodes well for the company’s future performance and reflects positively on their strategic direction.
Switching gears, Rivian shares have seen gains following reports of a conditional settlement with Tesla and approval for a $6.6 billion loan. This news indicates potential positive developments for Rivian and reflects investor optimism in the company’s future prospects.
In other news, the Indian regulator has denied Apple’s request to pause an antitrust report, signaling ongoing regulatory challenges for the tech giant in the Indian market.
Lastly, there have been recent product recalls and warnings from the Food Safety and Inspection Service (FSIS) regarding tortilla strips with a wheat allergen and ineligible beef tallow products from Mexico. These recalls and warnings underscore the importance of food safety regulations and highlight the need for consumer awareness around potential hazards.
