Best Buy reported fiscal second-quarter earnings that surpassed Wall Street expectations, posting adjusted earnings of $1.47 per share on $9.78 billion in revenue, according to LSEG analyst surveys. The consumer electronics retailer cited strong computing sales, a $34 million tariff refund benefit, and improved customer demand as key drivers behind the performance, prompting incoming CEO … Read more
Dick’s Sporting Goods reported second-quarter earnings that missed Wall Street expectations and lowered its financial outlook for the year, driven by a challenging athletic footwear and apparel marketplace, according to financial disclosures released on August 25, 2026. The retailer posted adjusted earnings per share of $3.53 on revenue of $5.59 billion, falling short of analyst … Read more
United Parcel Service is investing more than $2 billion into its global infrastructure to expand international, healthcare, and supply chain solutions, according to a CNBC exclusive report. The multi-year capital deployment, which began in 2024 and runs through 2028, aims to help businesses adapt to macroeconomic pressures and navigate complex global trade disruptions. Global Infrastructure … Read more
The Lamborghini Revuelto SV has officially debuted as the fastest and most powerful vehicle ever produced at the company’s factory, combining a naturally aspirated V12 engine with three electric motors to generate over 1,050 horsepower, according to the Italian auto manufacturer. Unveiled on Friday, the limited-edition hybrid supercar accelerates from zero to 100 kph (62 … Read more
Bill Ackman’s Pershing Square Capital Management has disclosed a new equity stake in Netflix, according to the firm’s semiannual report. The investment marks a high-profile return to a streaming giant that Pershing abruptly exited four years ago after a sharp subscriber drop. Why Pershing Square Re-entered Netflix After a 2022 Exit According to its semiannual … Read more
The artificial intelligence boom faces an acute structural risk because its financial foundations rely heavily on just two companies, according to former Neuberger Berman senior portfolio manager Steve Eisman. Speaking on CNBC’s “Fast Money,” Eisman warned that the entire capital expenditure cycle in tech is essentially a wager on the uninterrupted success of OpenAI and … Read more
Computing power is emerging as a tradable asset class as CME Group partners with Silicon Data to launch the first futures contracts tied to the cost of running artificial intelligence chips, according to announcements from the companies. The upcoming derivatives, slated for October 5 pending regulatory approval, will allow companies and investors to trade and … Read more
Livestreamed shopping startup Whatnot closed its latest round of funding at a $20 billion valuation, according to a company release issued on Friday, nearly doubling its valuation from less than a year ago. The $545 million Series G round was led by Iconiq, Lightspeed, and Avra. Valuation Growth and Funding History Whatnot’s rapid financial ascent … Read more
Procter & Gamble has agreed to purchase supplement brand Thorne for $3.8 billion, marking a major expansion into the fast-growing wellness market as consumer demand for health-focused products surges. According to P&G CEO Shailesh Jejurikar, who spoke on CNBC’s “Squawk on the Street,” the acquisition is set to be announced Tuesday and represents a strategic … Read more
Rivian Automotive reduced its capital expenditure plans and narrowed projected annual losses while reporting second-quarter financial results, according to company disclosures. The electric vehicle manufacturer lowered its adjusted loss forecast and capital spending targets while reconfirming vehicle delivery goals for the year. Rivian Narrows Annual Losses and Trims Capital Spending Targets Rivian reported adjusted annual … Read more