CWEB, the American multinational media news company, has published its latest roundup of celebrity gossip and news and other trending business updates for November 7, summarizing the important events and highlights from across industries and around the world.
CWEB is a new platform for fans of celebrity gossip and news, providing up-to-date information on Hollywood, music, and lifestyle events. The site makes every minute worthwhile with the latest photos, videos, social media activity, as well as other online content related to celebrity gossip and news.
The following are the main highlights as reported in the latest newsletter:
The dollar strengthened and stocks fell. S&P 500 futures dropped roughly 0.3%, signaling that the US equity benchmark will end a six-day winning run. The Stoxx 600 index in Europe also saw a loss of a similar amount.
Office sharing company WeWork (WE) filed for Chapter 11 bankruptcy protection, just four years after receiving a $47 billion value. This represents a significant decline for a company that drew in big investment firms from throughout the globe.
Two weeks after its Cruise division halted operations across the country, General Motors (GM) has announced that it is going to stop producing the driverless Cruise Origin van. Cruise CEO Kyle Vogt stated during a business meeting that hundreds of Origin vans had already been manufactured and that this would be “more than enough” in the foreseeable future.
Hugh Johnston, the longstanding CFO of PepsiCo, has joined Disney as its new chief financial officer. Since Christine McCarthy’s resignation earlier this year, the business has been looking for a replacement. After 34 years at PepsiCo, he is leaving the company and joining Disney.
OpenAI guarantees to protect commercial clients from copyright infringement. Along with introducing GPT-4 Turbo, the company’s most potent artificial intelligence tool, it also hopes to allay worries about copyright among companies that employ its software.
Uber released its third-quarter results on Tuesday. While the company’s top and bottom lines fell short of analysts’ forecasts, other metrics, such as gross bookings, beat the company’s second-quarter guidance, indicating progress in those areas.
Retailers are often not placing large orders as the holiday shopping season approaches due to concerns about lackluster consumer spending, according to a recent CNBC Supply Chain Survey.
‘Hard to buy if not for sale’ is how Bank of America downgraded Paramount stock. Analyst Jessica Reif Ehrlich reduced her price target from $32 to $9 per share, down from her previous rating of Buy. She said that there isn’t much upside to shares if the company doesn’t sell itself whole or in part.
With record revenues at the end of its fiscal year, Starbucks is increasing pay and benefits for the majority of its hourly workers in the United States. However, the business said on Monday that certain benefits will not be available to unionized employees.
US trade imbalance on Tuesday. Expected profits from Rivian, Occidental Petroleum, Lucid, Celsius, Devon Energy, Planet Fitness, and Uber
AMC, Beyond Meat, Biogen, Disney, Lyft, MGM Resorts, Roblox, Take-Two, Under Armour, Warner Bros. Discovery, and Wynn Resorts are expected to report earnings on Wednesday.
Thursday: First claims of unemployment. Expected profits for Yeti, Oatly, Canopy Growth, and Aurora Cannabis.
US nonfarm payrolls and the unemployment rate on Friday. Expected earnings from Tyson Foods
Stocks to watch with positive momentum and Buy Rating:
Groupon (GRPN), Chase Bank (JPM), Microsoft (MSFT), GOOGL, Apple (AAPL), Pay Pal (PYPL), Walmart (WMT), Amazon (AMZN), Carnival Corporation (CCL), PepsiCo (PEP), Wells Fargo (WFC), Johnson & Johnson (JNJ), Philip Morris International (PM)SNAP INC (SNAP), Exxon Mobil (XOM), Chevron (CVX), EBAY.
Read the full newsletter online: https://www.cweb.com/cweb-news-summarized-breaking-business-and-financial-newsletter-for-november-7-2023/
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