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Estée Lauder has filed a federal lawsuit against Walmart, alleging the retail giant sold counterfeit versions of its luxury fragrances and skin-care products through its e-commerce platform. The complaint, lodged in a federal court in California, accuses Walmart of trademark infringement and false designation of origin involving several of the prestige beauty company's most prominent brands.
Lyft shares tumbled 17% in after-hours trading Tuesday after the ride-hailing firm reported fourth-quarter rider volumes that missed Wall Street estimates, overshadowing a massive accounting-driven profit and a new $1 billion share buyback program.
Shares of Australian biotech giant CSL plummeted on Wednesday following the abrupt departure of Chief Executive Paul McKenzie and a sharp decline in first-half profits. The leadership shake-up, coupled with a significant miss in the company's core blood plasma division, has left investors questioning the firm's near-term recovery trajectory.
James Hardie Industries shares climbed 13% in Sydney trading after the building materials supplier reported third-quarter earnings that surpassed market expectations. The company’s adjusted EBITDA reached US$329.9 million, prompting management to raise its full-year guidance and fueling analyst speculation that the new targets remain conservative.
Consumer sector shares climbed as robust corporate earnings outweighed a surprise stagnation in U.S. retail sales for December. While the broader market found support in luxury sector gains, the latest data highlights a deepening divide in the American economy, where high-income spending remains resilient even as lower-income households struggle under the weight of inflation.
Shares of major financial advisory firms tumbled as investors weighed the disruptive potential of a new artificial intelligence tool from fintech startup Altruist. The selloff hit industry heavyweights like Charles Schwab and LPL Financial, reflecting growing anxiety over AI’s ability to automate core wealth management functions.
O-I Glass reported a narrower fourth-quarter loss on Tuesday, outperforming analyst expectations for adjusted earnings as its "Fit to Win" efficiency program offset a slight revenue miss. The glass container manufacturer leveraged lower operating costs across its global footprint to stabilize margins despite cooling demand and pricing pressures.
Technology shares faced downward pressure as software valuations continued to slide, even as Google received European Union clearance for its record-breaking $32 billion takeover of cybersecurity startup Wiz.
The communications services sector trended upward Tuesday as a high-stakes bidding war for Warner Bros Discovery intensified and Spotify Technology reported a surge in user growth and quarterly profits.
Amazon has disclosed a 5.3% ownership stake in Beta Technologies, marking a significant strategic move into the electric aerospace sector. According to a Tuesday filing with the Securities and Exchange Commission, the e-commerce giant’s investment arm now controls approximately 11.8 million shares in the Vermont-based startup.
CNB Financial Corp. on Tuesday announced a 5.6% hike to its quarterly cash dividend, raising the payout to 19 cents per share as the banking firm strengthens its return to shareholders.
Shares of U.S. power producers surged following reports that the Trump administration intends to rescind a critical Obama-era scientific finding that classifies greenhouse gases as a public health threat. The move aims to dismantle the legal foundation for federal emissions regulations, providing immediate relief to fossil-fuel-reliant energy plants.
Bank of America energy analysts project a persistent global oil surplus through 2028, driven by rising supply and cooling demand that is expected to peak by the mid-2030s. In a medium-term outlook released Tuesday, the bank warned that Brent crude prices will likely face downward pressure, averaging between $60 and $80 per barrel through 2031 as the market transitions toward a structural plateau.
Marwynn Holdings has signed a non-binding letter of intent to purchase a 51% equity interest in DJ Mex, an electronic-waste sourcing specialist. The deal, announced on Tuesday, positions the supply-chain management firm to significantly expand its footprint in the circular economy and recyclable materials market.
Upstart Holdings has named co-founder Paul Gu as its next chief executive, effective May 1, as the AI-lending platform transitions its founding leadership. Gu succeeds fellow co-founder Dave Girouard, who will remain with the company as executive chairman and special adviser.
Franklin BSP Realty Trust has named Michael Comparato as its new chief executive officer, effective immediately, following the resignation of Richard Byrne. Byrne, who has led the real estate investment trust since 2013, will transition to the role of chairman of the board.
Evolution Mining reported a record half-year net profit of A$766.6 million (US$543.8 million) on Wednesday, more than doubling its previous year’s performance. Surging gold and copper prices allowed the Australian miner to overcome lower production volumes and hike its interim dividend to 20 Australian cents per share.
Metal-recycling firm Greenwave Technology Solutions has named Chelsea Pullano as its chief financial officer, effective Feb. 5, following a strategic services agreement with Mack Financial Solutions.
Semiconductor connectivity leader Astera Labs has appointed Desmond Lynch as its new chief financial officer, poaching the veteran executive from chip and silicon IP provider Rambus. Lynch is scheduled to take over the role on March 2, succeeding Michael Tate, who will transition into a strategic advisory position through the end of the summer.
Moderna Inc. shares fell sharply in after-hours trading after the U.S. Food and Drug Administration (FDA) declined to review the company’s application for its experimental flu vaccine. The regulatory setback follows an agency determination that Moderna’s clinical data failed to provide a necessary head-to-head comparison with current market-leading treatments.
Quantum Leap Acquisition, a Cayman Islands-based blank-check firm, filed for a $200 million initial public offering on Tuesday to fund a future merger in the deep-tech sector. The company plans to list on the New York Stock Exchange, signaling a continued appetite for specialized investment vehicles targeting high-growth industries.
Fortress Value Acquisition Corp. V has filed for a $250 million initial public offering on the Nasdaq, marking the latest blank-check vehicle from the investment giant to seek a public listing. The special-purpose acquisition company (SPAC) aims to partner with a business that can benefit from its sponsors' operational and capital expertise.
Farm Credit Canada, the nation's state-owned agricultural lender, has secured C$5 billion ($3.7 billion) in commitments from a consortium of private equity firms and Royal Bank of Canada to accelerate innovation across the country’s farming sector. The capital injection marks a strategic shift for the Crown corporation as it seeks to leverage external investment to bolster its existing C$63 billion loan portfolio.
Palantir Technologies has finalized a multi-year contract extension with Airbus, ensuring the aerospace giant continues to power its Skywise data ecosystem with Palantir’s analytics software. The renewal deepens a strategic alliance that has defined digital transformation in civil aviation for nearly a decade.
Commonwealth Bank of Australia reported a 5% increase in first-half net profit to A$5.37 billion, surpassing analyst expectations despite intensifying competition in the mortgage market. The result, announced Wednesday in Sydney, comes as the country's largest lender balances rising technology costs against a shifting interest rate environment.
Gilead Sciences reported a fourth-quarter profit of $2.18 billion on Tuesday, outperforming Wall Street expectations as strong demand for its core HIV and liver disease portfolios offset a decline in Covid-19 treatment sales. The biopharmaceutical giant posted revenue of $7.93 billion, a 5% year-over-year increase, signaling a robust transition toward its long-term growth strategy.
Farm Credit Canada, the nation’s state-owned agricultural lender, has secured C$5 billion ($3.7 billion) in capital commitments from a consortium of private equity firms and the Royal Bank of Canada. The influx of capital is earmarked for driving innovation across the country’s agricultural landscape, signaling a shift toward public-private cooperation in farm financing.
Personalis stock climbed on Tuesday after the company secured Medicare coverage for its NeXT Personal molecular residual disease test. The approval applies to the surveillance of patients with Stage I to III non-small cell lung cancer, providing a significant commercial tailwind for the oncology diagnostics specialist.
Energy Services of America shares jumped 34% to a new 52-week high after the infrastructure contractor reported a significant year-over-year increase in both revenue and profit for the first quarter.
Masco Corp. shares climbed 10% on Tuesday after the home improvement manufacturer authorized a new $2 billion share repurchase program and raised its quarterly dividend, signaling corporate confidence despite a year-over-year dip in revenue.