President Donald Trump on Thursday announced he has selected Stephen Miran, chair of the Council of Economic Advisors, to serve on the Federal Reserve Board of Governors, replacing Adriana Kugler, who resigned Friday.The nominee will serve out Kugler’s term, which expires Jan. 31, 2026.”In the meantime, we will continue to search for a permanent replacement,” Trump said in a Truth Social post, indicating that the nominee for the full 14-year term on the board could be someone else and Miran may just be in a caretaker role.Stephen Miran, chairman of the Council of Economic Advisers, following a television interview outside…
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Online sports betting giant Flutter reported second-quarter earnings that beat Wall Street expectations Thursday. The company reported adjusted earnings of $2.95 a share versus an estimated $2.08, according to a survey of analysts by LSEG. Revenue came in slightly higher than expectations at $4.19 billion against consensus expectations of $4.13 billion.Flutter owns the dominant U.S sportsbook FanDuel, and FanDuel’s holding a winning hand.Its U.S. revenue for the quarter of $1.79 billion came in slightly higher than expectations, and adjusted earnings before interest, taxes, depreciation, and amortization was nearly $100 million higher than analyst consensus. June was especially good for FanDuel…
Bank of America is sticking by Emerson Electric after a postearnings sell-off, as the company could benefit from manufacturing shifting back to the U.S. Emerson Electric’s fiscal third-quarter results were mixed, hurt by weaker-than-expected sales. The company, which makes autonomous technology and industrial goods, lowered its full-year outlook and now estimates sales will rise 3.5% from the prior fiscal year, rather than its earlier forecast of 4% growth. Shares slipped about 8% on the heels of the report on Wednesday and were down another 2% in trading on Thursday. The pullback could be “an opportunity to buy pure-play automation at…
The Instacart logo is seen on a smartphone and on a PC screen.Pavlo Gonchar | SOPA Images | Lightrocket | Getty ImagesInstacart earnings topped estimates and the grocery delivery company issued strong guidance.Here’s how the company did versus LSEG estimates:Earnings: 41 cents per share vs. 38 cents expectedRevenues: $914 million vs. $896 million expected”We delivered another strong quarter, reinforcing the essential role we play in helping families save time, money, and effort putting food on the table,” wrote outgoing CEO Fidji Simo in a shareholder letter to employees.Simo, who helped take the grocery delivery company public in 2023 and guided it through…
Mary Kay burns incense at the entrance to the state-managed immigration detention center dubbed Alligator Alcatraz, located at the Dade-Collier Training and Transition Airport in the Florida Everglades on August 03, 2025 in Ochopee, Florida. Joe Raedle | Getty ImagesA federal judge on Thursday ordered a temporary halt to construction at an immigration detention center — built in the middle of the Florida Everglades and dubbed “Alligator Alcatraz” — as attorneys argue whether it violates environmental laws.The facility can continue to operate and hold detainees for U.S. Immigration and Customs Enforcement, but workers will be barred from adding any new filling, paving or infrastructure for the next…
Doximity at the New York Stock Exchange for its initial public offering on June 24, 2021.Source: NYSEDoximity is diving deeper into artificial intelligence, announcing on Thursday the acquisition of startup Pathway Medical for $63 million. Pathway has built an AI-powered clinical reference tool that doctors can use to ask questions about guidelines, drugs and trials. Pathway’s answers are synthesized from medical literature, and Doximity said the Montreal-based startup has one of the largest structured datasets in medicine. Doximity’s platform, which for years was described as LinkedIn for doctors, helps clinicians stay current on medical news, manage paperwork, find referrals and carry out…
A chip company that has sat out the artificial intelligence rally still has growth potential – and it has a solid history of making dividend payments to shareholders. Qualcomm shares are down 5% in 2025, a stark contrast to a nearly 20% surge for the VanEck Semiconductor ETF (SMH) . QCOM YTD mountain Qualcomm in 2025 Just last Thursday, the stock slid close to 8% after the company posted fiscal third-quarter beats on the top and bottom lines, posting adjusted earnings of $2.77 per share on revenue of $10.37 billion. Analysts polled by LSEG sought $2.71 per share and revenue…
Adam Foroughi, CEO of AppLovin.CNBCAppLovin shares resumed their historic rally on Thursday after the ad-tech company reported better-than-expected earnings for the second quarter.The stock popped 11% and is now up 34% for the year after soaring more than eightfold in 2024. Wall Street has piled into the company due to its growth from artificial intelligence technology that’s given advertisers more ways to target users in mobile games.CEO Adam Foroughi suggested on the earnings call that another wave of growth is likely on the way due to the legal saga between Apple and Epic Games. In April, a judge in Oakland…
Facebook CEO Mark Zuckerberg departs E. Barrett Prettyman United States Court House on April 14, 2025 in Washington, DC. Andrew Harnik | Getty ImagesA California jury ruled against Meta in a privacy-related lawsuit involving the alleged collection of sensitive data from Flo, a period-tracking app.The jury ruled that the plaintiffs proved that Meta violated the California Invasion of Privacy Act, according to a verdict form filed Friday in the U.S. District Court for Northern District of California.The ruling stems from a class-action lawsuit dating back to 2021 against the health-tech company Flo Health and other businesses like Meta, Google-parent Alphabet and…
Federal Reserve Governor Christopher Waller converses on the sidelines of a monetary policy conference at Stanford University’s Hoover Institution in Palo Alto, California, U.S., May 9, 2025. Ann Saphir | ReutersThe odds that Federal Reserve Governor Christopher Waller will be named the next chairman crossed above 50% for the first time on prediction market Kalshi.Waller’s probability spiked from just about 16% on Wednesday after Bloomberg News reported, citing people familiar with the matter, that President Donald Trump’s advisors like his openness to adjust monetary policy based on forecasting, rather than current data. It also reported that Waller has met with…
