3 takeaways from Dollar General, Dollar Tree earnings that sent stocks soaring

3 takeaways from Dollar General, Dollar Tree earnings that sent stocks soaring

Dollar General and Dollar Tree stores Getty Images Shares of Dollar General and Dollar Tree surged on Thursday as discounters beat Wall Street quarterly profit expectations, raised outlook for the year ahead and spoke of consumers flocking to lower prices amid inflation. As of noon on Thursday, shares of Dollar General were up about 14% … Read more

Twitter, Macy’s, Nvidia, Lululemon and more

Twitter, Macy’s, Nvidia, Lululemon and more

A Lululemon sign hangs in front of their Woodbury Commons Premium Outlets mall store on November 17, 2019 in Central Valley, New York. Gary Hershorn | Corbis News | Getty Images Check out the companies making headlines Thursday at noon. Macy’s – Shares jumped 17.8% after the department store chain reported better-than-expected quarterly results and … Read more

Sequoia helps start-ups cut costs or face a ‘death spiral’

Sequoia helps start-ups cut costs or face a ‘death spiral’

One of Silicon Valley’s most successful venture capitalists doesn’t see the economy rebounding anytime soon and is warning its portfolio companies to tighten their belts in the meantime. In a 52-page presentation seen by CNBC, the Sequoia lays out a litany of risks making it harder for founders to raise funds and operate. The memo, … Read more

Q1 GDP fell 1.5%, worse than expected; unemployment insurance claims are down

Q1 GDP fell 1.5%, worse than expected;  unemployment insurance claims are down

A “We are hiring!” sign is displayed at a Starbucks in Los Angeles, California. mario tama | Getty Images The contraction in the U.S. economy at the start of the year was worse than expected as weak investment by businesses and individuals failed to offset strong consumer spending, the Commerce Department reported Thursday. First-quarter GDP … Read more

Q1 GDP fell 1.5%, worse than expected; unemployment insurance claims are down

Q1 GDP fell 1.5%, worse than expected;  unemployment insurance claims are down

A “We are hiring!” sign is displayed at a Starbucks in Los Angeles, California. mario tama | Getty Images The contraction in the U.S. economy at the start of the year was worse than expected as weak investment by businesses and individuals failed to offset strong consumer spending, the Commerce Department reported Thursday. First-quarter GDP … Read more

Justin Timberlake sells song catalog for $100 million to fund Blackstone-backed funding

Recording artist Justin Timberlake performs onstage during the Pepsi Super Bowl LII Halftime Show at US Bank Stadium on February 4, 2018 in Minneapolis, Minnesota. Christopher Polk | Getty Images Buy, buy, buy. Pop superstar Justin Timberlake, who got his start in boy band NSYNC, has sold the rights to his catalog of songs to … Read more

Macy’s, Twitter, Medtronic and more

Check out the companies making headlines before the bell: Macy’s (M) – Macy’s jumped 15% premarket after reporting better-than-expected first-quarter earnings and revenue and raising its full-year profit forecast. Results were boosted by strong demand for clothing as people returned to work and other out-of-home activities. Dollar General (DG) – Shares of Dollar General rose … Read more

Broadcom announces its intention to acquire VMware

Hock Tan, CEO of Broadcom Martin H.Simon | Bloomberg | Getty Images Broadcom will buy VMware in a $61 billion cash and stock deal, based on the closing price of Broadcom common stock on May 25, 2022, the companies announced Thursday. The deal would be one of the largest tech acquisitions of all time, behind … Read more

Macy’s (M) announces first-quarter 2022 earnings overrun, raises guidance

A person walks past a Macys store in Hyattsville, Maryland on February 22, 2022. Stefani Reynolds | AFP | Getty Images Macy’s on Thursday reported fiscal first-quarter earnings and sales that beat analysts’ expectations as shoppers returned to malls to buy new outfits, luggage and luxury goods despite decades-high inflation threatening to reduce consumption. The … Read more

Fast grocery delivery start-ups Getir and Gorillas cut jobs

Fears of a looming recession are forcing fast grocery delivery companies to curb growth. This week, two of the biggest instant grocery apps, Getir and Gorillas, announced their decision to lay off hundreds of employees. Another company, Zapp, said it was offering redundancies in its UK team. Getir told staff on Wednesday that he plans … Read more