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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