Archive for Gary James

Retailers of Footwear Run Over By Price Wars

Stock for sporting goods retailers plunged on Friday as quarterly results that were poor posted by Foot Locker and Hibbett increased concerns by investors about a glut in supply that could intensify price wars across the industry. The most recent results followed those of Dick’s Sporting Goods a larger rival, which warned earlier in the […]

President Trump Rips Into Amazon Over Taxes

U.S. President Donald Trump ripped into Amazon via social media on Wednesday, saying the giant in e-commerce was hurting retailers and causing job losses in the U.S. Shares of Amazon were down 1% in trading before the opening bell following Trump’s blasting tweet. Amazon stock was down 0.5% at the close of business Wednesday. A […]

Target Buying Facilitator of Quick Deliveries

Target Corp. is increasingly more aware shoppers want their purchases online to be delivered promptly. To maintain as quick a delivery time as possibly, Target is acquiring a transportation technology company based in San Francisco that facilitates same-day deliveries. The retailer announced on Monday it agreed to purchase Grand Junction a tech startup whose software […]

Facebook Attempts to Enter China Unnoticed

In an attempt to explore the ultra-high potential of the online market in China, Facebook authorized the release this week of a new app that does not use its name. The app is Colorful Balloons and is for photo-sharing. It shares the look, function as well as feel of the Moments app from Facebook, showed […]

ESPN New Streaming Service Will Fill a Void, But More is Needed

It has been known ESPN was in the midst of developing its own streaming service since last year, when Disney, its parent company, acquired a share of 33% in BAMtech, a company specializing in streaming video that was created in 2015 by Major League Baseball. Disney on Tuesday announced it will exercised the option it […]

Netflix Acquires Millarworld for its TV and Film Content

Netflix Inc. announced Monday that he acquired Millarworld the comics publisher that brings aboard a renowned comic book writer in Mark Millar and a host of different character franchises that it can use for its television shows and movies. This is Netflix’s first acquisition in the 20 years it has been the pioneer for streaming […]

Ex-Official with Volkswagen Admits to Role in Emissions Scandal

A former compliance executive at Germany-based Volkswagen AG pleaded guilty this week to criminal charges that stem from the role he played in the automaker’s emissions cheating scandal. Germany citizen Oliver Schmidt, who for a number of years headed the engineering and environment offices for Volkswagen in Michigan, filed a guilty plea in a federal […]

Fitbit Beats on Revenue, Smartwatch Ready for Holiday Season

Fitbit the maker of wearable devices posted a drop in revenue for the quarter that was less than expected, and said everything was on track for the launch of its much-anticipated smartwatch for the upcoming holiday season. Fitbit, which sells wristbands in an array of colors that monitor heartrate, tracks steps count, calories and sleep […]

Honda First Quarter Results Strong, Eyes Higher Profit for Year

Honda Motor Co. moved up its forecast for profit for the full year citing favorable exchange rates for currency, after posting a rise in its quarterly earnings thanks to a weaker yen and strong demand across Asia. The third largest automaker in Japan continues struggling in North America its largest overall market, that represents one […]

Wells Fargo Facing Difficult Questions As New Abuses Discovered

New revelations were made that Wells Fargo & Co. spent many years enrolling borrowers in expensive auto insurance without the customer’s knowledge or consent. The new discovered sales abuses have put Wells Fargo back under heavy pressure to answer for a scandal over its sales practices that was harmful to millions of people in the […]

Twitter Stock Plunges As Investors Disappointed Over User Growth

Twitter Inc. shares began the trading day on Thursday 10% lower after the social media microblogging platform disappointed its investors with flat monthly user growth during the just ended second quarter. Despite its ongoing appeal amongst public figures and celebrities, Twitter has been struggling to keep its user growth even as it added to available […]

McDonald’s Initiatives in U.S. Help Global Sales Top Expectations

McDonald’s Corp posted its largest rise in sales at same-restaurants worldwide in the past five years, driven by more traffic and successes in its U.S. initiatives that included promotions on beverages and the launching of its signature crafted sandwiches. Now two years into its turnaround under CEO Steve Easterbrook, the burger chain giant is attempting […]

Sears Selling Kenmore Appliances Through Amazon

Sears at one time was the store that sold everything, but that was then and now Amazon is the everything store. With its huge inventory of toys, tools and firearms, it toppled local retailers. With its catalog-type model and its delivery systems that was nationwide, Sears at one time promised to bring everything to people’s […]

Chipotle Shares Plunge Following Norovirus Report

Analysts have become split over whether investors should avoid or buy Chipotle after shares of the burrito maker plunged following news that customers became sick after eating in one of its restaurants. The burrito-chain’s stock has struggled to recover from outbreaks of food-borne illnesses during 2015. In premarket trading early Wednesday, share prices for the […]

Trian Wants Peltz on P&G Board, Starts Public Proxy Fight

Trian Fund Management announced on Monday that it was seeking to have a seat on the board of directors at Proctor & Gamble for its CEO, as it is looking to push P&G to take more dramatic steps trying to revive sales and profit. The announcement by Trian marks its official launch of its biggest […]

Uber Forms Partnership with Russian Rival Yandex

Uber loves to fight its competition. However, in a few of the countries the ride-hailing company is in business, it has taken a path that is more conciliatory. The most recent example of this is that on Thursday Uber announced that it formed a partnership with Russian Internet Yandex operator of a search giant and […]

Paris and Los Angeles Ready to Host Olympics

In all likelihood Paris and Los Angeles will get the 2024 and 2028 Summer Olympics. It is not clear however, which city will be given which year. On Tuesday, a vote is expected by the International Olympic Committee to break with its tradition and award two Olympic Games at the same time. Paris and Los […]

Jobs Growth in U.S. Accelerates During June

Job growth in the United States surged more than had been expected during June while employers increased the number of hours for their workers, signs of strengthening in the labor market that might keep the U.S. Federal Reserve on line for its third hike in the interest rate this year despite wage gains being sluggish. […]

Owner of QVC Taking Over Big Rival HSN for $2.1 Billion

Liberty Interactive is set to consolidate two powerhouses of home shopping with its CEO Greg Maffei calling the deal a way to enhance the position of QVC as the global leader of video e-commerce retail. Liberty Interactive, controlled by John Malone, already owns QVE a powerhouse in home shopping and has agreed in principle to […]

Worldpay Attracts Interest of Rival in U.S. and Banking Behemoth

On Tuesday, British payments processor company Worldpay Group said it received two different preliminary approaches from Vantiv its rival in the U.S. and JPMorgan Chase over the possibility of a takeover. The news helped send shares higher. The area of payments processing is much more fashionable of late as more payments continue to move online, […]

Price of Gas on Fourth of July Sets Low of 12 Years

Gasoline prices have hit new lows for the Fourth of July as for the first time in the past 12 years the oil glut has held the price down. Consumers driving to their destination for the four-day weekend will be paying on average $2.21 a gallon, which is less than the $3.14 a gallon ten-year […]

Walgreens Drops Bid for Rite Aid, Will Buy Stores

Walgreens Boots Alliance has ended its bid to takeover Rite Aid Corp, and will instead buy a smaller part of its rival’s drugstore chain, as the original deal was blocked due to antitrust problems in the U.S. The new deal will end a saga that has dragged on over 18 months as the two companies […]

Sprint Shares Up After Talk of Wireless Partnerships

Sprint Corp shares were up 3% Tuesday morning after reports surfaced that the fourth-largest wireless service provider in the U.S. was holding talks with Comcast Corp and Charter Communications about a partnership. Sprint, which is controlled by Japan-based SoftBank Group, is in a period of two-months of exclusive talks with Comcast and Charter, while putting […]

Federal Probe at SeaWorld Related to Documentary “Blackfish”

On Friday, SeaWorld revealed through one of its public filings that a pair of federal agencies are investigating it for matters that are related to the documentary film “Blackfish” produced by CNN. SeaWorld said the probes are separate involving one with the Securities and Exchange Commission and the other with the Department of Justice. The […]

Deal Between Nike and Amazon Scares Sporting Goods Chains

Shares at several of the major sporting good chains fell to lows of 52 weeks after word that Nike might soon sell its products on e-commerce giant Amazon.com. On Wednesday, Goldman Sachs said it believed this deal would give Nike more exposure to the huge customer base and retail channel of Amazon, especially millennials. Products […]

Takata Shares Plunge on Reports of Bankruptcy

Takata might be getting nearer to its end. Shares of the auto parts business based in Japan plunged by 17% Monday following a number of reports that its scandal involving airbags that exploded might soon cause it to enter bankruptcy. On Friday, the stock was suspended due to the reports, which said the struggling company […]

CenturyLink Accused of Scheme Similar to Wells Fargo

A former employee at CenturyLink Inc. has claimed that she was fired because she blew the whistle on the telecommunication company’s sales culture of high-pressure that left its customers paying many millions of dollars for unrequested accounts, indicated a lawsuit in Arizona that was filed earlier this week. Shares at CenturyLink were down the most […]

Kroger Quarterly Earnings Help Push Stock Down

Kroger Co. stocks was slammed by investors during Thursday pre-market trading after the supermarket chain lowered its guidance for earnings significantly and started a new sales streak for same stores that is not nearly as positive as its previous one. Kroger, based in Cincinnati, Ohio, is the largest traditional supermarket operator in the country. On […]

Sears Cutting More Jobs, Online Head Stepping Down

Early Tuesday morning, Sears announced it was slashing 400 jobs for full time employees at corporate headquarters located in Hoffman, Illinois and for support functions. In addition, Stephan Zoll, online operations president at Sears will step down from that position on June 15, the retailer said on Tuesday in another 8-K filing with the U.S. […]

SoftBank Buying Alphabet Inc. Robotic Businesses

On Friday, SoftBank Group announced that it would acquire two companies from Alphabet Inc. the parent company of Google. The companies specialize in making walking robots.  This adds to the growing portfolio of artificial intelligence for the Japanese company. SoftBank announced it would acquire Schaft, based in Tokyo and Boston Dynamics. Both design as well […]

Banco Popular Rescued from Collapse by Santander

The largest bank in Spain Santander will acquire Banco Popular its struggling rival for just one euro after authorities in Europe determined that the lender was creeping closer to insolvency. Santander will be asking investors for close to €7 billion equal to $7.9 billion in fresh capital to help cover the cost to boost Popular, […]

Surge Pricing by Uber During Terror Attacks Causes Furor on Social Media

Uber, the ride-hailing service, faced furor on social media on Saturday after the company instituted surge pricing during the terror attack in England’s capital of London. A number of people used Twitter to express discontent over how the ride-hailing company delayed the turning off of surge prices in the affected areas of the capital following […]

Walmart Asking for Packages Be Delivered By Employees

The latest tactic by Walmart in its battle against Amazon the online behemoth is asking its employees to deliver orders received online while they head home after work. The idea, said executives at Walmart on Thursday, is to slash costs on the last-mile for deliveries, when packages are taken to the customer’s home, often times […]

FAA Proposed $435,000 Fine Against United Airlines

On Tuesday, the Federal Aviation Administration proposed a fine of $435,000 against United Airlines. The FAA alleges that the air carrier operated an aircraft that it says was “not in airworthy condition.” During June of 2014, mechanics at United Airlines replaced the pressure switch on a fuel pump on one of the airline’s Boeing 747s. […]

British Airways’ Problems Lessen Following Weekend Chaos

British Airways continues to work in restoring its computer systems following a huge power failure that caused a huge disruption worldwide for thousands of its passengers. The airline is near full operational capacity following a power cut to its IT system that resulted in massive flight cancellations at Gatwick and Heathrow. Thousands of air passengers […]

Best Buy Breaks the Retail Slump Trend

Best Buy Co., the giant in retail electronics that just a few years ago having major problems, is bucking the retail slump in the U.S. by turning its stores from a drag on business into ways to fight off online rivals such as Amazon.com. Thursday, the company posted a small increase in its quarterly revenue, […]

China Downgraded by Moody’s As Debt Increases

Moody’s Investors Service has downgraded the credit rating for China. The Wednesday downgrade was the first for China in close to 30 years. Moody’s said it expects that the strength financially of the economy in China will erode during the next few years as its growth will slow and debut will continue rising. The downgrade […]

Boeing and Saudi Arabia Sign New Deals

Boeing announced Sunday that it signed several commercial and defense deals with Gulf Region leader Saudi Arabia that includes the sale of passenger and military aircraft. The deals were signed during the visit to the kingdom made over the weekend by U.S. President Donald Trump. This announcement is the most recent of billions of dollars […]

Profit Falls at Walmart, but Beats Expectations

Walmart Stores profit was down 1.3% during its fiscal year first quarter, but a surge in e-commerce and strong sales in the U.S. showed how the retailer continues to attract consumers during a challenging time in the industry. The company posted $3.04 billion of net income equal to $1 a share, for its quarter that […]

Jack in the Box Shares Bounce Following Earnings Report

Jack in the Box released its 2017 financial report for its second quarter that included earnings per share of 98 cents with revenues reaching $369 million. Stock in the company increased almost 11% in trading after hours late Tuesday after the earnings report had been released. The earnings per share of 98 cents excluded 9 […]

U.S. Stocks Open Higher on Surprise by Russia and Saudis

The week was set to start higher on Wall Street on Monday with the prices of oil rallying after Russia and Saudi Arabia called for an OPEC production cut extension. Futures for the DOW were up 59 points early Monday while, the same for the S&P 500 were higher by 5.3 points. Nasdaq futures were […]

Shares at Macy’s Fall by 17% Due to Plummeting Profit

Macy’s on Thursday rang an early warning bell for the U.S. retail industry in posting results that signaled another tough quarter for retail department stores as well as mass merchandisers that have struggled in their attempt to adapt to the changing habits of shoppers, who are browsing more in stores and buying online. The downward […]

Nvidia Shares Soar as AI Chip Demand Grows

Nvidia the maker of graphics chips keeps proving it is not only about gaming. On Tuesday, the chipmaker in its earnings reported for the first quarter posted revenue that reached $1.94 billion, which was up more than 48% from the same period one year ago with earnings per share of 79 cents an increase of […]

JD.Com Helped by Surge in Online Shopping in China

JD.com posted its first-ever quarterly profit since becoming a public company with the integration of Walmart Stores. The web business in China and strong spending by consumers has driven a surge in online sales. China’s second largest company in the e-commerce industry after just Alibaba Group had been the benefactor of an increase in online […]

Delta Air Lines Removes Family from Flight After Seating Problem

Delta Air Lines based in the U.S. is facing a public relations nightmare after a family alleged they had been removed from a flight for refusing to give up their child’s seat. A member of the flight’s crew could be heard on a video on YouTube saying it was a federal offense and you and […]

Stock at Twilio Plunges as Uber Pulls Back

A solid revenue report was not enough to prevent stock at Twilio from plunging in trading after hours. What appeared at first glance to be a good story very quickly became a financial nightmare for the company. The cloud communications business saw its stock fall by 30% during trading afterhours that was attributable to guidance […]

Report: Young People and Insecure Children Targeted by Facebook

The algorithms used by Facebook collect data on young New Zealanders and Australians emotional state, for advertising. Facebook apologized for allegedly allowing its advertisers to target people who are emotionally vulnerable and as young as 14, revealed a document leaked and obtained by The Australian. The news outlet, said the document that leaked was prepared […]

Alphabet Inc. Sees Profit Soar 29% on Ad Sales

Alphabet Inc., the parent company for Google, posted an increase in revenue and profit Thursday as the core advertising part of its business continued growing at a rapid pace and problems like a YouTube advertiser boycott created little to no impact. The profit by Alphabet beat estimates on Wall Street and rose by 29% to […]

Chipotle Payments System Hacked

If it is not one thing it is another. Chipotle Mexican Grill had just reported that its sales rebounded following a prolonged decline that came after an outbreak of food safety issues, when company executives told analysts that its system for payment processing had been hacked. The CFO of Chipotle Jack Hartung announced that the […]

Jimmy Choo and Bally Up Put on Sale by JAB

Investment company JAB has put shoemakers Bally International AG and Jimmy Choo Plc on sales, to focus on its expanding coffee and food operations and looking to benefit from the rebound in sales of the luxury footwear and accessories industry. On Monday, JAB Luxury GmbH, which is part of the Reimann family investment arm, said […]