Any day now, a federal judge is expected to issue a landmark ruling that could upend some of the most lucrative deals in Silicon Valley: Google’s default search contracts.At stake is more than $26 billion a year, $20 billion of which goes to Apple. That’s nearly a quarter of Alphabet’s operating income.For decades, the Apple-Google pact has helped determine who controls the internet, which is exactly why it’s now in the crosshairs.U.S. District Judge Amit Mehta ruled last year that Google held a monopoly in search and ads. He’s been weighing remedies since the final phase of the trial wrapped…
Author: usaeverydaylife
Check out the companies making headlines before the bell: MongoDB — The database platform developer soared 30% after its latest results beat Wall Street analysts’ estimates. MongoDB reported adjusted earnings of $1 per share on revenue of $591 million, above the consensus as compiled by LSEG of 66 cents per share on revenue of $556 million. Kohl’s — The department store chain jumped nearly 17% after adjusted second-quarter earnings of 56 cents per share topped the LSEG consensus estimate of 29 cents per share. Revenue also exceeded expectations. Canada Goose — U.S.-listed shares of the luxury parka maker climbed about…
JPMorgan believes shares of Krispy Kreme are now floundering in “survivor mode.” In a Wednesday note, the bank downgraded the donut chain to an underweight rating from neutral. Analyst Rahul Krotthapalli did not provide a price target for the stock. Shares of Krispy Kreme have plunged 62% this year. Krotthapalli noted that the stock has “vastly underperformed” since going public at $17 per share in July 2021. DNUT YTD mountain DNUT YTD chart Krotthapalli noted that Krispy Kreme’s recent profitability hit was from the now-canceled partnership with McDonald’s . Krispy Kreme CEO Josh Charlesworth cited unsustainable costs as a major…
Federal prosecutors failed to secure a grand jury indictment against a former Department of Justice employee who was arrested in early August after allegedly hurling a Subway sandwich at a U.S. Customs and Border Protection officer in Washington, D.C., The New York Times reported Wednesday.The U.S. Attorney’s Office in D.C. sought to charge the man, Sean Charles Dunn, with felony assault of an officer for the sub-chucking incident, which was caught on video.The DOJ fired Dunn after his arrest.It is not clear if prosecutors will try again to obtain an indictment of Dunn. The DOJ and the U.S. Attorney’s Office…
MongoDB shares skyrocketed more than 30% on Wednesday after the database software company posted better-than-expected fiscal results and gave an upbeat forecast.Here’s how the company did in comparison with LSEG consensus:Earnings per share: $1.00 adjusted vs. 66 cents expectedRevenue: $591 million vs. $556 million expectedMongoDB’s revenue increased 24% from a year ago in the fiscal second quarter that ended July 31. The company had a net loss of $47.04 million, or 58 cents per share, compared with a net loss of $54.5 million, or 74 cents per share, in the year-ago period.Sales of MongoDB Atlas, the company’s cloud database service,…
New York Federal Reserve President John Williams on Wednesday stressed the importance of central bank independence as President Donald Trump looks to exert control over monetary policy.In a CNBC interview, the influential policymaker avoided commenting directly on Trump’s efforts to fire Fed Governor Lisa Cook but did note the important economic role the central bank plays in maintaining a stable economy.”Personally, I have worked with Lisa Cook as she’s been a member of the Board of Governors, and she’s always brought integrity and commitment to the central bank’s mission,” Williams said during the “Squawk Box” interview. “I think Federal Reserve…
Visitors and salesmen stand at the booth of Swiss luxury watchmaker and jeweler Piaget, during the “Watches and Wonders Geneva” luxury watch fair, on April 1, 2025.Fabrice Coffrini | Afp | Getty ImagesJamie and her husband are traveling to Switzerland in December for a ski vacation. But hitting the slopes isn’t the only motivator: The couple say they are also trying to sidestep steep U.S. tariffs on Swiss goods.They intend to buy a luxury watch — a Patek Philippe Nautilus — from the watchmaker in Geneva, Jamie said, as a present for her husband’s birthday.Their budget for the watch: $50,000…
Abercrombie & Fitch sales growth slowed again in its fiscal second quarter as the apparel company struggles to top the surge it enjoyed last fiscal year.During the quarter, sales at the namesake Abercrombie brand fell 5% while comparable sales dropped 11%. But the success of teen-focused Hollister brand helped to salvage the quarter. Overall, Abercrombie & Fitch sales climbed 7%, led by 19% growth at Hollister – the brand’s best-ever second-quarter net sales growth, the company said. Comparable sales across the business rose 3%, led by Hollister, which also saw comparable sales grow 19%.Abercrombie narrowly beat Wall Street expectations on the top…
Cantor Fitzgerald sees CoreWeave as a big artificial intelligence beneficiary in the coming years. The investment firm initiated coverage of the cloud computing company at an overweight rating and $116 per share price target, which implies upside of 27%. Analyst Thomas Blakey noted CoreWeave’s compelling profile. The company’s target market opportunity is around $399 billion, and CoreWeave has expanded at a compounded annual growth rate of 38% since 2023. He also emphasized the company’s focus on building out its AI model training and infrastructure as a major catalyst for the stock. “Our rating is driven by our view of a…
Here are Wednesday’s biggest calls on Wall Street: Cantor Fitzgerald initiates CoreWeave as buy Cantor said it is bullish on shares of CoreWeave. “We believe CoreWeave should benefit from secular growth trends in AI, specifically large language model (LLM) training and inference based usage, as an enabling software-driven AI-focused hyperscaler, comfort in near-term demand/supply imbalance, and competitive differentiation.” Read more. Goldman Sachs downgrades Deutsche Bank to neutral from buy Goldman Sachs downgraded the German banking giant mainly on valuation. “However, given the recent rally in the share price, Deutsche Bank now trades at a P/E multiple which is roughly in…
