Thursday, July 25
AMC Reports Second-Quarter Revenue, Profit Drop Amid Strike-Related Movie Delays
Business

AMC Reports Second-Quarter Revenue, Profit Drop Amid Strike-Related Movie Delays

More news - Recent news NEW YORK — AMC Entertainment on Wednesday warned investors of significant declines in key second-quarter financial metrics that led to a more than 7% drop in its stock price. The company attributed the decline to the actors' and screenwriters' strikes of the previous year, which led to fewer film releases and the resulting "weakness" in the quarter ended June 30. Preliminary results show AMC’s revenue fell more than 23% to $1.03 billion. The company also expects to report a net loss of $32.8 million, a stark contrast to the $8.6 million profit it reported in the second quarter of 2023. Full financial results are due on August 2. “As we anticipated and previously communicated, the prolonged actor and writer strikes of 2023 have significantly reduced the number ...
Tesla’s margins suffer from EV discounts and heavy AI spending
World

Tesla’s margins suffer from EV discounts and heavy AI spending

Related media - News 24 hours BEVERLY HILLS, CALIFORNIA — At the Milken Institute Global Conference, Elon Musk, co-founder of Tesla and SpaceX and owner of X Holdings Corp., spoke about the current challenges Tesla is facing. As Musk continues to make ambitious promises about Tesla’s future in autonomous driving and robotics, investors are seeing a steady decline in profit margins. Tesla missed Wall Street estimates for second-quarter earnings, reporting a decline in its adjusted operating margin to 14.4%, the lowest in three years, down from 18.7% a year earlier. That marked the fourth consecutive quarter of decline. The company reported net income of $1.48 billion on revenue of $25.5 billion, including $890 million in regulatory credits. Tesla is getting hit on both sides. Spending...
LeBron James leads Team USA to victory over Germany in thrilling exhibition game
Sports

LeBron James leads Team USA to victory over Germany in thrilling exhibition game

Related media - News 24 hours The United States men's national basketball team faced a tight showdown in their final pre-Olympic game against Germany, and it was LeBron James who secured the victory for Team USA. In a dramatic finale, James scored 11 points in the final four minutes to lift the Americans to a 92-88 victory on Monday. The NBA’s all-time leading scorer sparked the comeback with a dunk, giving Team USA an 83-82 lead with less than four minutes remaining. He followed it up with a steal and a quick conversion to extend the lead to 85-82. James continued his decisive performance by hitting two free throws after being fouled on a defensive rebound, extending the lead to five points. Despite Germany's four-point run, which closed the gap to one point with 1:43 remaining, Jam...
Top Stock Moves in After-Hours Trading: Cleveland-Cliffs, Nucor, NXP Semiconductors and More
Business

Top Stock Moves in After-Hours Trading: Cleveland-Cliffs, Nucor, NXP Semiconductors and More

Related media - News 24 hours Several stocks have seen significant price movements after the market close. Below is a summary of the most significant movers in after-hours trading. Cleveland Cliffs (CLF) Cleveland-Cliffs saw a substantial increase in its stock price after reporting better-than-expected quarterly earnings. The company's strong performance was driven by higher steel prices and increased demand from the auto sector. Investors reacted positively to the news, sending the stock up more than 5%. Nucor (NUE) Nucor shares also rose in extended trading, buoyed by a solid earnings report that highlighted strong demand in its core markets. The steelmaker’s results beat Wall Street estimates, leading to a 4% jump in its stock price. The company cited increased infrastructure spend...
Wiz Cancels B Google Acquisition, Plans IPO Instead
World

Wiz Cancels $23B Google Acquisition, Plans IPO Instead

Related media - Latest news Wiz has decided to forgo a $23 billion acquisition by Google, a deal that would have marked Google’s largest acquisition to date. Instead, the cloud security startup will pursue an initial public offering (IPO) as originally planned, according to an internal memo from co-founder Assaf Rappaport. “Turning down offers like this is a challenge,” Rappaport noted in his message to employees, obtained by CNBC. He emphasized the company’s focus on reaching its next milestones: an IPO and reaching $1 billion in annual recurring revenue, milestones that had been in sight well before the acquisition talks began. The acquisition would nearly double Wiz’s valuation from its last funding round, which was $12 billion. Founded in 2020, Wiz has grown rapidly unde...
MLB Trade Deadline: High-Stakes Battle for Some, Calm Waters for Others
Sports

MLB Trade Deadline: High-Stakes Battle for Some, Calm Waters for Others

More news - News 24 hours The MLB trade deadline is rapidly approaching, and the pressure is mounting for some front offices. With the All-Star break behind them, teams are scrambling to bolster their rosters for a playoff push. While some organizations face pivotal decisions that could define their seasons, others are in a more comfortable position. The White Sox, mired in a disastrous campaign, are at the center of trade rumors. General manager Chris Getz has signaled a rebuild of the entire franchise, placing every player on the block, including star player Luis Robert Jr. The proceeds from these potential deals could significantly impact Getz's tenure. Toronto management is at a crossroads. The underachieving Blue Jays must decide whether to trade franchise mainstays Vla...
Flag Football’s Olympic Debut: A Turning Point
Sports

Flag Football’s Olympic Debut: A Turning Point

Related media - Recent news The inclusion of flag football in the 2028 Los Angeles Olympics is set to revolutionize the sport. This historic decision marks a significant milestone, propelling flag football onto the world stage and inspiring a new generation of athletes. By introducing flag football to the Olympic platform, the International Olympic Committee (IOC) recognizes the growing popularity of the sport and its ability to capture the attention of audiences around the world. The non-contact nature of flag football makes it accessible to a wider demographic, particularly women and young athletes, fostering greater inclusivity and participation. The Olympics will act as a catalyst for further growth and development of flag football on an international scale. With t...
From Underdog to Superstar: Scheffler Faces Unexpected Fame
Sports

From Underdog to Superstar: Scheffler Faces Unexpected Fame

Related media - Latest news Scottie Scheffler’s rise to the pinnacle of golf has been nothing short of meteoric. Once considered a talented but unremarkable player, the American has become a global sensation in 2024. This newfound fame, however, presents a unique challenge for a man who previously held his privacy in high regard. Scheffler’s journey began with a dominant win at the Masters in 2022, cementing his place as a world-class golfer. However, his celebrity status remained relatively understated. Fast forward to 2024, and a series of events catapulted him into the spotlight. A series of major victories, including a second Masters victory, cemented his dominance. But it was a bizarre arrest in Louisville that truly propelled him into the pop culture stratosphere. Fans...
The Domino Effect: Nick Saban’s Retirement Rocks College Football
Sports

The Domino Effect: Nick Saban’s Retirement Rocks College Football

More news - Breaking news On a seemingly ordinary Wednesday in January, Nick Saban's surprising retirement sent shockwaves through the college football landscape. This article explores the ripple effect of his decision, which has impacted hundreds of coaches and staffers at every level of the sport. Alabama Rebuilds: DeBoer Takes the Reins As Alabama mourned the end of the Saban era, attention quickly shifted to finding a new coach. Athletic director Greg Byrne wasted no time in naming Kalen DeBoer, Washington’s national championship runner-up, as Saban’s successor. DeBoer’s departure opened another vacancy at Washington, setting the coaching carousel in motion. A chain reaction across the country DeBoer convinced Alabama defensive coordinator Kane Wommack to become Washingt...
Apple Vision Pro review: First-gen headset falls short
Technology

Apple Vision Pro review: First-gen headset falls short

Related media - Latest news Seventeen years ago, Steve Jobs introduced the iPhone, a revolutionary device that combined an iPod, a telephone, and an Internet browser in one. At $500, it was expensive, but its innovation justified the cost, despite some initial flaws. Fast forward to today, and my experience with Apple’s new $3,500 Vision Pro headset has been less than stellar. This ski-goggle-style virtual reality headset aims to merge the physical and digital worlds. Apple bills it as a “space computer” designed for work, entertainment, and play. Without an advance review unit from Apple, I purchased the Vision Pro myself. With essential add-ons like a $200 case, $180 AirPods, and $150 prescription lens inserts, the cost quickly adds up. After using it for five days, I’m still not s...