Billionaire real estate investor Barry Sternlicht had some harsh words for the newly elected mayor of New York City, Zohran Mamdani. Sternlicht is Chairman and CEO of Starwood Capital Group, which has both commercial and residential holdings and joint ventures in the city, as well as its own offices in Midtown Manhattan.Sternlicht blamed overly expensive development and management costs on unions and said he only expected it to get worse in the Mamdani administration.”Over $100 million, every project in New York has to go union, and it’s super expensive. It leads to extremely expensive housing. And other developers have tried…
Author: usaeverydaylife
Dylan Field, co-founder and CEO of Figma, center, appears on the floor of the New York Stock Exchange in New York on July 31, 2025. Figma Inc. shares surged as much as 229% after the design software maker and some of its shareholders raised $1.2 billion in an IPO, with the trading valuing the company far above the $20 billion mark it would have reached in a now-scrapped merger with Adobe Inc.Michael Nagle | Bloomberg | Getty ImagesDesign software maker Figma on Wednesday reported stronger-than-expected third-quarter revenue and quarterly revenue guidance. The stock moved as much as 6% higher in…
The Amazon Prime logo on a package in Manhattan, New York City, on Sept. 16, 2023.Michael Kappeler | Picture Alliance | Getty ImagesTariffs imposed by the Trump administration have given the country’s retailers another cost to manage during a period of persistent inflation.While many are navigating the change with limited price increases, marketplace giant Amazon is hiking more than others.Price increases are common for retailers trying to blunt higher costs from tariffs. Companies including Walmart and Target have said they are employing a portfolio approach to pricing following the tariff hikes, meaning they have raised prices on some items but…
Check out the companies making headlines in after-hours trading. Snap — The social media company surged 26% after it unveiled a $500 million buyback program and issued strong fourth-quarter revenue guidance. On top of that, Snap said Perplexity AI will pay it $400 million to integrate the AI startup’s search capabilities into Snapchat. Arm Holdings — Chip designer Arm Holdings’ stock rose nearly 3% after beating expectations on the top and bottom lines. Arm earned 39 cents per share, excluding items, on revenue of $1.14 billion. Analysts surveyed by LSEG had expected Arm to earn 33 cents per share on…
Brand new Lucid electric cars sit parked in front of a Lucid Studio showroom in San Francisco on May 24, 2024.Justin Sullivan | Getty ImagesDETROIT – Lucid Group missed Wall Street’s expectations for a second consecutive quarter as the all-electric vehicle maker continues to address problems with the launch of its new flagship Gravity SUV.The company, for a second consecutive quarter, also cut the high end of its annual production guidance to around 18,000 vehicles from a previous forecast of between 18,000 and 20,000 units. Its original target for this year was 20,000 units. It also reduced the low end…
Sean Duffy, US secretary of transportation, during a news conference at Philadelphia International Airport (PHL) in Philadelphia, Pennsylvania, US, on Friday, Oct. 24, 2025. Ryan Collerd | Bloomberg | Getty ImagesTransportation Secretary Sean Duffy announced Wednesday afternoon that he will be reducing flight capacity by 10% at 40 major airports starting on Friday morning, affecting roughly 3,500 to 4,000 flights daily.It was not immediately clear which airports would be affected.”This is proactive,” Duffy said in a news conference.Federal Aviation Administration Administrator Bryan Bedford said additional measures could be taken after the initial reduction.”As we slice the data more granularly, we…
Snap shares climbed as much as 25% on Wednesday after the company issued its third-quarter earnings, reporting revenue that beat analysts expectations and a $500 million stock repurchase program.Here is how the company did compared with Wall Street’s expectations:Earnings per share: Loss of 6 cents. That figure is not comparable to analysts’ estimates.Revenue: $1.51 billion vs. $1.49 billion expected, according to LSEG Global daily active users: 477 million vs. 476 million expected, according to StreetAccountGlobal average revenue per user (ARPU): $3.16 vs. $3.13 expected, according to StreetAccountSnap also announced that it is partnering with the startup Perplexity AI, which “will integrate its conversational search directly…
A DoorDash bag on a bicycle in New York, US, on Tuesday, May 6, 2025. Yuki Iwamura | Bloomberg | Getty ImagesDoorDash reported third-quarter earnings that missed analyst expectations and said it expects to spend “several hundred million dollars” on new initiatives and development in 2026.The stock plummeted 20% following the report.Here’s how the company did compared to LSEG estimates:Earnings: 55 cents per share vs 69 cents per share expectedRevenue: $3.45 billion vs $3.36 billion expected.”We wish there was a way to grow a baby into an adult without investment, or to see the baby grow into an adult overnight,…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Stocks were staging a comeback following a nasty selloff on Tuesday. But the rally has not been concentrated in AI-related names. It has developed as a broader move, driven by a few developments. Most notably, the ADP payrolls report showed private employers added 42,000 jobs in October, more than the Dow Jones consensus estimate of 22,000. That’s a nice turnaround from September’s loss and helped cool fears around a weakening…
Michael Burry unnerved investors this week with seemingly fresh wagers against artificial intelligence favorites Nvidia and Palantir Technologies . However, despite the splash his disclosure made, the famed “Big Short” investor is likely sitting on losses from those bearish bets. Burry’s hedge fund, Scion Asset Management, held about 50,000 put contracts on Palantir and 10,000 on Nvidia at the end of the third quarter, according to a regulatory filing. The news exacerbated a sell-off in AI names Tuesday as investor concerns about sky-high valuations deepened. The disclosure also prompted a sharp reaction from Palantir CEO Alex Karp, who called Burry’s…
