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Target reported that sales for the first quarter of 2022 rose by 4% over the first quarter of 2021 – but profit fell by 52% because of inflation, higher costs, supply chain disruptions, and increases in hourly pay and benefits. Shares of Target closed today at 161.73, a drop of 53.55 (24.87%).
Target shares sink 25% after company says high costs, inventory woes hit profits
https://www.cnbc.com/2022/05/18/targ...-earnings.html
Starbucks joins McDonald’s, Exxon Mobil and British American Tobacco in pulling out of Russia following that country's invasion of Ukraine. Sales in Russia account for less than 1% of Starbucks' revenue.
Starbucks is leaving Russia for good
https://www.cnn.com/2022/05/23/busin...sia/index.html
Dave Thomas opened the first Wendy's restaurant in 1969 in Columbus, Ohio. (Wendy was the nickname of his eight-year-old daughter Melinda.) Today there are more than 6,900 Wendy's worldwide. Shares of Wendy's closed today at 17.86, a gain of 1.59 (9.77%).
Wendy's puts up the 'for sale' sign as it loses ground to McDonald's and Burger King
https://world.bemoo.xyz/wendys-puts-...d-burger-king/
In 1925, Howard Johnson purchased the drugstore in Quincy, Massachusetts where he had been working. He started selling ice cream, hot dogs and fried clams. He opened his first restaurant in 1929. A second restaurant opened in 1935. In the mid-1970s, there were more than 1,000 Howard Johnson's restaurants in the United States and Canada. Now there are none.
America's last Howard Johnson's restaurant has closed
https://www.cnn.com/2022/06/01/busin...ant/index.html
Meta is the parent company of Facebook, Instagram, WhatsApp, Oculus and Giphy. Shares of Meta closed today at 188.64, a drop of 5.00 (2.58%).
Sheryl Sandberg to step down as Meta COO
https://finance.yahoo.com/news/shery...195345385.html
Musk would like to determine how many of Twitter's 229,000,000 accounts are fake. Shares of Twitter closed today at 39.55, a drop of 0.61 (1.52%).
Elon Musk threatens to walk away from Twitter deal
The billionaire accused the company of refusing to give him information about its spam bot accounts.
https://www.huffpost.com/entry/musk-...b0b1100a672f50
Microsoft's Edge, introduced in April 2015, is the default web browser for Windows 10 and Windows 11. It replaced Internet Explorer. Edge is also available for Android, iOS, macOS and Linux. Worldwide, Edge is now the second most popular desktop/laptop web browser. Google Chrome is first. Internet Explorer is now used by only 0.9% of desktops and laptops.
RIP, Internet Explorer
Microsoft's much-maligned internet browser will soon be officially retired.
https://www.huffpost.com/entry/micro...b06594c1ce876b
Amazon's Prime Air drone delivery service will launch in Lockeport, a small unincorporated community in San Joaquin County, California. Amazon is building a new facility there. A five-foot-diameter drone will deliver packages of up to five pounds to people's backyards. Umm.....what if you live in an apartment?
Amazon to start drone delivery service in California
https://www.gpsworld.com/amazon-to-s...in-california/
Brothers Charles and Joseph Revson founded the Revlon cosmetics company March 1, 1932 in New York City. The "L" in the name came from chemist Charles Lachman. Revlon bought the Mitchum deodorant company in 1970, bought the Elizabeth Arden cosmetics company in 2016 – and is bankrupt in 2022.
Revlon files for bankruptcy
https://www.cnn.com/2022/06/16/inves...tcy/index.html
From 1876 to 1943, John Harvey Kellogg served as superintendent of the Battle Creek Sanitarium in Michigan. William Keith Kellogg, his brother and the sanitarium's bookeeper, created corn flakes breakfast cereal in 1894 and founded the Battle Creek Toasted Corn Flake Company in 1906. The company was renamed Kellogg in 1909. Shares of The Kellogg Company closed today at 68.86, a gain of 1.25 (1.85%).
Kellogg announces split into 3 separate companies
https://abcnews.go.com/Business/kell...ry?id=85526966
James Lewis Kraft began a wholesale cheese business in 1903 in Chicago. He and his four brothers formed the J.L. Kraft & Bros. Company in 1909. It was renamed Kraft Cheese Company in 1924 and is now the Kraft Heinz Company. Kraft introduced boxed macaroni and cheese in 1937. The name is being changed to what most people have been calling the product for many years. Shares of Kraft Heinz closed today at 37.05, a gain of 0.44 (1.20%).
Kraft Macaroni and Cheese is changing its name
https://www.cnn.com/2022/06/22/busin...ame/index.html
In April, Netflix reported a loss of 200,000 subscribers in the first quarter of 2022 – its first subscriber loss since 2011 – and predicted a loss of two million subscribers in the second quarter. Following today's announcement of a second round of layoffs, shares of Netflix closed at 181.71, a gain of 2.82 (1.58%).
Netflix lays off 300 more employees as revenue growth slows
https://www.cnbc.com/2022/06/23/netf...s-to-slow.html
Yeah, I can see how this could be a problem.
Toyota is recalling its first mainstream electric car because the wheels can fall off
https://www.cnn.com/2022/06/24/cars/...all/index.html
Musk says Twitter lied about the percentage of its users that are bots and therefore he can tear up the merger agreement. Twitter claims Musk is obligated to buy the company. Kathaleen McCormick, chancellor of the Delaware Court of Chancery, will decide who prevails. Shares of Twitter closed today at 36.81, a loss of 1.93 (4.98%).
Twitter vows legal fight after Musk pulls out of $44 billion deal
Reuters, Jul 8 2022 4:14 PM PDT
Elon Musk, the chief executive officer of Tesla and the world's richest person, said today he is terminating his $44 billion deal to buy Twitter because the social media company had breached multiple provisions of the merger agreement. Twitter chairman Bret Taylor said the board plans to pursue legal action to enforce the merger agreement.
https://www.reuters.com/technology/e...al-2022-07-08/
A spokesman said Starbucks is "closing some stores in locations that have experienced a high volume of challenging incidents that make it unsafe to continue to operate." Those "challenging incidents" were not specified.
Starbucks is closing 16 stores nationwide due to personal safety concerns
https://www.today.com/food/news/star...erns-rcna38043
Shares of Netflix closed today at 176.56, a gain of 2.11 (1.21%).
Netflix with ads is coming
Netflix will partner with Microsoft on a new ad-supported subscription plan, the two companies announced today.
https://www.cnn.com/2022/07/13/media...oft/index.html
For several weeks I was getting three or four of these calls every day. I finally answered one of the calls and pressed "2" to speak with an agent. A woman greeted me and asked for the year and model of my vehicle. I asked her, "Don't you have that information?" "We have it," she told me. "We just need you to verify it." "You do not have that information," I said. "This is a scam. Please quit calling." She hung up – but the calls stopped. A few weeks later, though, a different scammer started calling daily. Warranties should be obtained only from the auto dealers, not from phone scammers out to make easy money.
The FCC is cracking down on 'auto warranty' robocalls
CNN, Jul 21 2022 3:20 PM ET
US telecom providers will now be required to block millions of illegal robocalls a day advertising extended vehicle warranties, the Federal Communications Commission said Thursday, taking aim at a group of individuals accused of sending more than 8 billion such messages since 2018. The order by the FCC requires voice providers to stop carrying calls the agency has linked to 13 individuals and six companies, mostly based in Texas and California but also in such far-flung places as Hungary.
https://www.cnn.com/2022/07/21/tech/...own/index.html
Lemon-lime Fanta was first sold in 1959 in West Germany. In 1961, the beverage was renamed Sprite and introduced in the United States. It is now sold in more than 190 countries.
Sprite will no longer be sold in green bottles
CNN Business, Jul 27 2022 2:15 PM ET
Sprite is retiring its green plastic bottles after more than 60 years. Coca-Cola said today it's changing the packaging from green to clear plastic beginning August 1 as part of broader efforts to become more environmentally responsible. Sprite's current plastic contains green polyethylene terephthalate, an additive that can't be recycled into new bottles, a key initiative for the company as it looks to reduce plastic waste. Other Coca-Cola beverages that use green bottles, including Fresca, Seagram's and Mello Yello, will also be replaced with clear containers in the coming months.
https://www.cnn.com/2022/07/27/busin...tle/index.html
If approved by federal regulators, this deal will create the nation's fifth-largest airline. Shares of Spirit Airlines closed today at 25.66, a gain of 1.36 (5.6%). Shares of JetBlue closed at 8.37, a drop of 0.03 (0.36%).
JetBlue agrees to buy Spirit Airlines for $3.8 billion
https://apnews.com/article/ap-top-ne...93cbac661d6cf2
In June 2022, the average price for a gallon of unleaded gasoline hit an all-time high of $5.01 – and was more than $6 in California, Oregon, Nevada, Alaska and Hawai'i. Thus, this news will not surprise anybody:
Exxon, Chevron, Shell profits soar on oil's surge
https://www.foxbusiness.com/markets/...oar-oils-surge