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United Parcel Service was founded as telegram delivery service American Messenger Company in 1907 in Seattle, Washington. Shares of UPS closed yesterday at 148.63, a gain of 1.30 (0.88%).
UPS establishes $300 billion cost-savings plan, will close 200 facilities
https://www.yahoo.com/lifestyle/ups-...102952216.html
Dave and Sherry Gold opened the first 99 Cents Only store in 1982 in Los Angeles. At its peak, the chain operated 400 stores and two distribution centers in California, Nevada, Arizona and Texas.
99 Cents Only stores closing all 371 locations, liquidation sales starting Friday
https://www.cbsnews.com/losangeles/n...arting-friday/
Unemployment remains low, jobs are being added – 303,000 in March – manufacturing output is increasing and the economy is strong.
A growing chorus of experts don't think an interest rate cut is coming in 2024
https://www.businessinsider.com/inte...ll-jobs-2024-4
Wedbush Securities is a wealth management, brokerage and advisory firm based in Los Angeles. Shares of Apple closed today at 169.67, a gain of 1.22 (0.72%).
Apple stock is down 10% this year but there are five reasons for investors to remain bullish, Wedbush says
https://markets.businessinsider.com/...wedbush-2024-4
CEO Elon Musk said in an email, "I would like to thank everyone who is departing Tesla for their hard work over the years." Yeah, because "everyone who is departing" sounds so much nicer than "everyone who I fired." Shares of Tesla closed today at 157.11, a drop of 4.37 (2.71%).
Tesla to lay off more than 10% of workforce
https://www.foxbusiness.com/economy/...0-of-workforce
Express Inc., headquartered in Columbus, Ohio, operates Express, Bonobos and UpWest clothing stores in the United States, Mexico, Puerto Rico, Costa Rica, Guatemala, Panama and El Salvador. Shares of Express closed today at 0.83, a gain of 0.13 (18.57%).
Clothing store Express, a mall favorite, has filed for bankruptcy, will close 95 stores
https://www.npr.org/2024/04/22/12463...les-bankruptcy
Steve Polyak, who holds degrees in psychology, computer science and artificial intelligence and is a senior director of the ACTNext research and development company, made this observation in 2010: "Before we work on artificial intelligence, why don’t we do something about natural stupidity?" Amen! Shares of Coca-Cola closed today at 60.64, a gain of 0.08 (0.14%). Shares of Microsoft closed at 407.06, a gain of 6.10 (1.52%).
Coca-Cola signs $1.1 billion deal to use Microsoft Cloud, AI services
https://money.usnews.com/investing/n...ud-ai-services
Alphabet Inc., headquartered in Mountain View, California, is the parent company of Google, Google Fiber, Waymo, Wing Aviation, Isomorphic Labs, GV Management Company and CapitalG Management Company. Shares of Alphabet closed today at 173.69, a gain of 15.74 (9.97%).
Alphabet market cap tops $2 trillion after earnings beat, dividend announcement
https://finance.yahoo.com/news/alpha...092630401.html
Republic First Bank had 32 branches in New York, New Jersey and Pennsylvania. They have reopened as branches of Lancaster, Pennsylvania--based Fulton Bank. Shares of Fulton Financial Corporation closed today at 16.80, a gain of 1.18 (7.55%). Republic's final share price was 0.0098, less than a penny per share.
FDIC takes control of Republic First Bank, marking the first major bank closure of 2024
https://en.as.com/latest_news/shockw...ure-of-2024-n/
Private equity firm Roark Capitol Group, founded in 2001 in Atlanta, also owns Arby's, Baskin-Robbins, Buffalo Wild Wings, Sonic, Mister Donut, Dunkin' and Jimmy John's.
Roark completes acquisition of sandwich chain Subway
https://www.verdictfoodservice.com/n...ubway/?cf-view
Kroger, Vons, Albertsons, Safeway and Trader Joe's have their own lines of food products. Costco has its Kirkland Signature line of food products. Walmart is now launching its own brand of food products – but why is the name not capitalized? Shares of Walmart closed today at 58.85, a drop of 0.49 (0.83%).
Walmart launches new grocery brand called bettergoods
https://www.usatoday.com/story/money...t/73510379007/
Unemployment has been below 4% for 27 consecutive months, the longest streak since 1966-69. (In 1968, the federal minimum hourly wage rose from $1.40 to $1.60. In 2024, it's $7.25 – and has not changed since 2009.)
U.S. employers scaled back hiring in April but still added 175,000 jobs
Last month’s job growth amounted to a solid increase, though it was the lowest monthly job growth since October.
https://www.huffpost.com/entry/us-ec...b05f96b018234b
rue21 was founded in 1970 in Warrendale, Pennsylvania and, according to Forbes, sells fashions "designed to appeal to 11- to 17-year-olds who aspire to be 21 and adults who want to look and feel 21." Today the 540-store chain looks and feels Chapter 11 bankrupcy.
rue21, a mall staple, files for bankruptcy and will close all of its stores
https://www.cnn.com/2024/05/03/busin...ing/index.html
Austrian immigrant Sam Ashkynase, a violin teacher and leader of the Sam Ash Orchestra, opened a music store in 1924 in Brooklyn. To cover the down payment, he pawned his wife's $400 engagement ring. Sam Ash Music began expanding in 1961 and eventually had 45 stores in 16 states. Sam's son Richard has served as CEO since 1995.
Hicksville-based retailer Sam Ash Music to close after 100 years
https://www.newsday.com/business/sam...drums-tq36rjwo
KidKraft, founded in 1968 iin Dallas, makes wooden toys, puzzles, playsets and furniture for children – and is more than $100,000,000 in debt..
KidKraft files for Chapter 11 bankruptcy, eyes sale to Backyard Products
https://toybook.com/kidkraft-chapter...cts-sale-news/
Venu Sports will target sports fans who do not subscribe to cable television. It will likely cost around $50 per month. Shares of Disney closed today at 103.31, a drop of 0.06 (0.058%). Shares of Fox closed at 30.53, a gain of 0.26 (0.86%). Shares of Warner Bros. Discovery closed at 8.06, a drop of 0.17 (2.07%).
Disney, Fox and Warner Bros. Discovery unveil name of sports-streaming venture: Venu Sports
https://variety.com/2024/digital/new...ry-1236006111/
Microsoft vice president Yusuf Mehdi expects more than 50 million AI PCs will be purchased over the next year. Shares of Microsoft closed today at 425.34, a gain of 5.13 (1.22%).
Microsoft just announced AI computers that start at $999 – check out the Copilot+ PCs
https://www.businessinsider.com/micr...p-price-2024-5
In 2014, Red Lobster parent company Darden sold the chain to private equity firm Golden Gate Capital, which sold off the real estate assets. thereby forcing Red Lobster to pay for expensive long-term leases, even for undeperforming locations. In 2020, Golden Gate sold the chain to Thai Union, a Thailand-based seafood company that owns several brands including Chicken Of The Sea. In 2023, Red Lobster introduced a $19.99 "Endless Shrimp" promotion which led to a quarterly loss of $11 million. Red Lobster, which has had five CEOs since 2021, now has one billion dollars in debt.
Red Lobster files for bankruptcy
https://www.cnn.com/2024/05/20/inves...tcy/index.html
DuPont was founded in 1802 near Wilmington, Delaware, by French immigrant Éleuthère Irénée du Pont and initially manufactured gunpowder. The company incorporated in 1899 and now makes industrial chemicals, pharmaceuticals, synthetic fibers and other products. Shares of DuPont closed today at 78.93, a gain of 0.38 (0.48%).
DuPont announces plans to split into three public companies, names new CEO
https://www.msn.com/en-us/money/mark...eo/ar-BB1mSgYY
Among the retailers offering credit cards issued by Capital One are Kohl's, Cabela's, Menards, Bergdorf Goodman, Neiman Marcus and Saks Fifth Avenue. Shares of Walmart closed yesterday at 65.38, a gain of 0.54 (0.83%).
Walmart ends credit card partnership with Capital One but shoppers can still use their cards
https://www.aol.com/walmart-ends-cre...162401021.html