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Intel Shares Drop Following Miss on Key Segment

Late Thursday Intel posted its quarterly earnings that exceeded expectations on Wall Street, but its revenue for the three-month period and a key data center group came up short of Wall Street estimates. The tech company posted earnings for its fiscal fourth quarter of 66 cents per share in comparison to last year during the same quarter of 54 cents per share. Revenue during the quarter was slightly less that Wall Street estimates ending at $14.8 billion versus the same quarter last year of $13.8 billion. Shares of Intel on the news were down more... 
 

PepsiCo Tops Expectations on Revenue and Earnings

PepsiCo posted better than had been expected results for its 2017 first quarter that ended March 25, with both revenue and earnings beating estimates on Wall Street. Increased prices, initiatives for cost cutting and healthier snacks all helped the company post results that exceeded expectations. This helped partially offset challenging food and beverage trading conditions across the industry in North America along with the continued volatility in many emerging and developing markets. PepsiCo’s core earnings per share during the first quarter... 
 

President Donald Trump Wants Corporate Tax Rate of 15%

President Donald Trump wants a big cut in corporate tax rates, a move that likely would increase the national debt and would breach a long-held goal by the Republicans of curbing borrowing by the federal government. The president instructed his advisers to propose the cutting of the corporate tax rate to 15% from its current 35%, said officials in the White House who were not given permission to speak publicly. The reduction in the corporate rate, which budget experts said could, cost the government as much as $2.4 trillion over a 10-year period... 
 

Wall Street Prepares for Onslaught of Earnings Results

Corporate America will unleash its largest quarterlies reports in the past decade next week, with over 190 S&P 500 index members delivering their quarterly financial reports. The lineup of companies due to submit their financial reports represent close to 40% of the overall value on the index or approximately $7.7 trillion. Including in the list of companies posting quarterlies next week are Alphabet Inc., Amazon.com, Microsoft Corp and Exxon Mobil. This onslaught of earnings reports could keep the focus of investors in U.S. stocks on earnings... 
 

Qualcomm Revenue and Profit Beat the Street

Qualcomm Inc., the largest chipmaker for smartphones, posted revenue and profit for the quarter that beat estimates by Wall Street, which helped to ease concerns that surround the dispute the company has with Apple Inc. Investors helped push up shares 2.4% that prior to now have been the year to day worst performer on the Philadelphia semiconductor index. Apple sued Qualcomm this past January, accusing the maker of chips of overcharging chips and refusing to pay close to $1 billion in rebates it had promised. On Wednesday, Qualcomm said that contract... 
 

Chipotle Mexican Grill Increases Prices

Chipotle Mexican Grill has increased its prices at 440 locations as it attempts to shore its profit up, a move marking the first price increase since it faced food safety issues that flattened its sales during the latter part of 2015. The 440 locations, which amount to 20% of the total chain of Chipotle locations, boosted prices 5% on the average since April 11, said a spokesperson for the chain. No plans are in place to increase prices at each one of the 2,200 Chipotle restaurants. The Chipotle spokesperson said it was the first price increase... 
 

Microsoft Has Patched Leaked NSA Hacks

Software giant Microsoft said it already has patched the exploits on Windows released by the hacker group Shadow Brokers. The tools used for hacking were likely from NSA and were released on Friday online. Microsoft then tested and confirmed patches which are available already for all supported Windows versions. However, older versions of Windows Vista and Windows XP could still remain vulnerable to three of the released exploits, but it is not likely that Microsoft would supply patches for the older versions of Microsoft operating systems as they... 
 

Burger King Whopper Ad Creates Big Problem

An ad for Burger King that was designed to trigger the Home smart speaker, the voice activated speaker from Google and have that device advertise their Whopper, but it is not working any longer. On Wednesday, the ad was released and featured an actor as an employee of Burger King who asks Google what is a Whopper. The line was meant to trigger the device to give a definition of a Whopper by using it Wikipedia definition. About three hours following the launch of the ad, the ad did not work any longer. Google’s Home only lit up when responding... 
 

LeEco Walks Away From Deal to Acquire Vizio for $2 Billion

China-based LeEco has terminated its planned acquisition for $2 billion of Vizio the U.S. based consumer electronics business due to issues with regulators, the latest setback to the expansion drive of the Chinese conglomerate that has been strapped for cash. The deal was announced first during July of 2016 as LeEco agreed to acquire Vizio, the maker of flat panel television based in Irvine, California. A representative from LeEco cited a policy factor in China for abandoning its proposal, but did not give any further details. The company is one... 
 

Surface Beats iPad for Tablet Satisfaction

The iPad division of Apple has taken another big blow. The Surface tablet by Microsoft registered a score of 855 out of 1,000 in a recent study by J.D. Power on customer satisfaction amongst tablet users. The results put the Surface tablet in front of the iPad, which recorded a score of 849. Samsung’s Galaxy tablets were just two points behind the iPad with 847. The study by J.D. Power said that consumers like the Surface tablets due to a number of pre-loaded applications that were offered. The Microsoft tablet also had good performance in Internet... 
 

Taser Becomes Axon As Company Shifts Focus to Software

Taser International Inc., the maker of the device of the same name that police use to incapacitate someone temporarily, will now be known as Axon as it moves further into software. Axon comes from the unit of Taser that sells body cameras used by police, cameras on patrol car dashboards and software that manages the many hours of digital footage the camera generate. Gambling that police departments across the country will sign deal for paid subscription of software, the company has offered its body cameras free to officers as well as one year free... 
 

Employees Receive Microchip Implants from Startup

Epicenter, a Swedish startup hub is routinely injecting a microchip into its employee’s hands and creating yet another cyborg. The company offers to give employees and members of its startup an implant that is the size of a grain of rice that works like swipe cards to operate printers, open doors or even buy a combo meal by a simple wave of the hand. These microchip injections are becoming so popular that employees at Epicenter have parties for those who are willing to have an implant injection. The benefit that appears to be the most popular... 
 

Recall of EpiPen Includes United States

Mylan Pharmaceuticals last week issued a recall of its EpiPen in seven countries. The first recall of the product that is injectable in emergencies involving allergies, did not include the United States. However, Mylan late this week issued its latest recall which not just includes EpiPens that are sold in the U.S., it also involves the EpiPen Jr, a version for children. The new recall includes EpiPens that were distributed from December 2015 to July 2016, but the pharmaceutical company did not make it clear the number of EpiPens that are affected. The... 
 

Lululemon Shares Plunge as Earnings Miss

Lululemon Athletica based in Toronto posted per share earnings for its fourth quarter on Wednesday that fell short of expectations on Wall Street. Earnings were hurt by a Canadian dollar that was strong than had not been expected. Shares were also hurt by a fall in comparable sales for the first quarter. The results and outlook help send shares tumbling 18% after the close of markets on Wednesday. A product assortment that proved disappointing during the first quarter resulted in weaker sales online and less shoppers in Lululemon stores, executives... 
 

China Enters Race for India Car Market

SAIC Motor based in Shanghai is in talks with three states in India about establishing a manufacturing operation, said an executive with the company. The automaker has also been negotiating the possibility of using a factory that General Motors owns in Gujarat. GM is the main partner of SAIC in China. However, labor dispute are holding up that deal. It is a booming market and our presence is needed there, said P. Balendran the chief representative for SAIC in India. The automaker, which the Chinese government owns, plans to sell vehicles under the... 
 

California Keeps Auto Emissions Standards, Could Battle White House

The clean-air agency of California voted Friday to push forward with its stricter emissions standards on cars and trucks, which sets up a possible legal battle with the White House administration over the plan the state has of reducing greenhouse gases. The California Air Resources Board’s vote is the biggest indication to date of the plan by the state to not back down to the agenda of President Donald Trump. Leading state politicians from its Governor Jerry Brown to a number of mayors promised to lead the resistance to policies proposed by Trump. Trump... 
 

Call Center Workers and Technicians at AT&T on Strike

Close to 17,000 call center workers and wireline technicians went on strike at AT&T in Nevada and California this week, while filing a charge of unfair labor with the National Labor Relations Board or NLRB that alleges AT&T is in violation of federal law. The Communications Workers of America union said through a strike announcement that the company showed disrespect during the bargaining process when it changed the worker’s work assignment without bargaining, which is required under federal law. In addition, the union said AT&T had... 
 

Under Amour Enters Into New Agreements to Get Back on Track

Under Armour is attempting to turn itself around following an earnings report for the fourth quarter that did not meet expectations. The sports apparel brand, which just recently launched in Kohl’s the mid-price department stores known for deep discounting has now entered into a new agreement with DSW the discount shoe retailer. This deal is a collaboration that will result in unique products for the DSW stores, said DSW chief merchandising officer and vice chairperson Debbie Ferree. Analysts are worried the move could affect the brand perception... 
 

MuleSoft Surges 46% in Debut

It is the first enterprise technology IPO of 2017 and it jumped out of the gate. MuleSoft helps businesses such as Spotify and Netflix with APIs, and on Friday debuted with is initial public offering opening the day at $17 and closing at $24.75 for a 46% increase. Over $221 million was raised by the company in its IPO but much more could have been raised if it had been priced just $3 higher at $20. Bankers usually have a goal of between 20% and 30% in gain the first day trading. If a business is prices too low then money was left out there on the... 
 

Missing Comma Means Labor Suit Remains Alive

An appeal of a labor dispute in Maine hinged on the most contentious debate related to punctuation, the Oxford comma. Earlier this week, a First Circuit Court of Appeals issued a ruling in favor of a group of truck drivers from Oakhurst Dairy. The truck drivers had sued the owners of the company over three years ago for overtime wages that were not paid. This week’s ruling overturns a District Court ruling from earlier that was in favor of Oakhurst, keeping the dispute of over $10 million in OT wages for 75 drivers of Oakhurst still alive. The... 
 

Volkswagen Profit Drop Shows Recovery Is Far Ahead

Operating profit at the biggest brand of the Volkswagen umbrella fell in 2016 showing there remain big challenges ahead for the largest automaker in the world 18 months after its scandal related to diesel engine emissions. The company, based in Germany, said in February it made a record operating profit within its group during 2016, excluding items that were one-off, helped from strong performances by Porsche and a turnaround at the Scania trucks company. However, releasing detailed data on its different brands Tuesday, the automaker said that is... 
 

Huge Alaskan Oil Discovery is Largest Find Onshore in Three Decades

The huge discovery of conventional oil on land owned by the state of Alaska could bring massive relief to the budget problems Alaska is suffering that came about due to a drop in production in the state and the oil price crash. The discovery of oil was made only in the last few days in the North Slope of Alaska, which previously was considered just an aging basin of oil. Repsol, the Spanish oil behemoth and Armstrong Energy, its U.S. partner that is a privately held company, announced the discovery Thursday. The two predicted that production could... 
 

Another Bankruptcy for RadioShack

RadioShack Corp the electronics chain based in the U.S. filed on Wednesday for bankruptcy protection. The filing was the second by RadioShack in just over two years. The company is battling a tough, competitive retail environment and a partnership that has not worked out with Sprint Corp, the wireless provider. The filing, for Chapter 11, arrives after RadioShack, which General Wireless Operations owns, attempted to revitalize the business through co-branding stores with Sprint in an attempt to compete with their much larger rivals. General Wireless,... 
 

Bird Flu Discovered at Chicken Supplier for Tyson Foods

At a chicken farm in Tennessee, officials destroyed tens of thousands of chickens due to an outbreak of bird flu. Thirty other farms that are located within a radius of six miles of that same farm were quarantined. The United State Department of Agriculture announced that 73,500 chickens had been destroyed at one facility and would not be part of the food system. The H7 avian influenza found can be deadly to both chickens as well as turkeys. Bird flu has become a phrase that includes a variety of different influenza viruses that can spread amongst... 
 

Home Depot Adding 80,000 New Jobs for Spring

Home Depot has become the latest retailer in the U.S. to announce it was hiring. The home improvement retailer said it is looking to hire over 80,000 people in time for the annual spring rush. The retailer will hire a broad range of new employees, from freight handlers to cashiers to customer service reps. To quicken the new hiring, it has condensed its application, and enables potential new employees to apply by clicking on a tablet or smartphone. The executive vice president of human resources at Home Depot Tim Crow said the company wants all... 
 

IPO Priced by Snap at $17 Per Share Gives Company $24 Billion Value

Millennials, considered to be between the ages of 14 and 35, might be a more hyped demographic that any in decades. The generation has helped to power one of the largest and most eagerly awaited debuts in stock market, making its founders billionaires. Investors are attracted to Snapchat’s hold on users that fall into the Millennials category. That group checks its app on average over 18 times daily. That has caused them to step up to the plate in Snap’s initial public offering helping to push the parent company of Snapchat up to a value of... 
 

Tesla Stock Falls on Possible Delay of Model 3

Tesla stock was down 4% on Monday after it was downgraded by Goldman Sachs on worries about its upcoming Model 3. An analyst at Goldman Sachs gave Tesla, the maker of electric vehicles, a sell rating while lowering his target price to $185 from $190. Shares of Tesla fell $10.77 on the day. A number of possible issues influenced the downgrade by the analyst, with many related to Tesla’s launch of its first mass market electric vehicle, its Model 3. Presently, Tesla only sells two luxury vehicles, the Model X which is a crossover and the Model S... 
 

Audi and Porsche Help Lift Volkswagen to Record Profit

Record sales at Porsche and Audi helped Germany-based Volkswagen move to a record underlying profit during 2016. However, a larger than had been expected charge due to the scandal over diesel emissions meant the automaker came up short on operating profit. Sales for the luxury brands of the German automaker lifted its underlying operating profit prior to special items by over 14% to end the year at €14.5 billion equal to $15.5 billion during 2016, after VW posted a record breaking loss for 2015. Underlying profit was in line with most forecasts... 
 

Walmart Testing New Concept of Convenience Store

Walmart has begun testing a new convenience store concept. The retail giant hopes this new concept for the company will be its next big, although in reality, small thing. In Texas, Walmart has opened a 2,500 sq. foot store. When entering the store it appears very much like many other convenience stores with hot dogs cooking on a rotisserie grill, beer in the walk-in refrigerator and a number of impulse items near the cash register. The big difference is its one of the two convenience stores that Walmart opened in January. The other is located in... 
 

YouTube to End 30-Second Unskippable Ads

Most everyone has likely had their own tussle related to the different ads that YouTube has, as most viewers are more interested in just watching a video rather than waiting for an advertisement to end. At times, ads are not that annoying, due to them having a button that allows the viewer to skip them after a period of time, but that is not the case all the time. YouTube has decided to make viewers happier by eliminating its 30-second unskippable ads. Google decided to eliminate the ads after recognizing just how unpopular they are, especially... 
 

Lenovo Misses On Smartphones Sales

Lenovo Group’s business of mobile phones is continuing to contract, while its personal computer division managed to grow slightly due to overwhelming competition during the holiday shopping season. The largest maker of PCs in the world posted a profit that plunged over two thirds during its December quarter and missed projections for analysts after its position in the U.S. was threatened by HP Inc. Sales of smartphones were down close to one quarter around the world as Lenovo lost market share to its rivals like Huawei both home and abroad. Lenovo... 
 

Ford Investing $1 Billion in Tech Startup Argo AI

On Friday, Ford Motor Co announced its plans to invest $1 billion during the next five years in Argo AI a tech startup to help the automaker reach the goal it set of producing an autonomous vehicle for commercial ride sharing before 2021. Argo AI, based in Pittsburgh, was founded by former executives with Uber and Google who worked on self-driving teams. With the investment, Ford becomes the largest shareholder at the company. Ford CEO Mark Fields announced that the investment was in line the announcement made previous related to capital expenditures. The... 
 

iPhone 8 Will Start Production Sooner Than First Thought

Apple will start making its next generation smartphone, the iPhone 8 much sooner that was originally expected, according to a pair of reports on Internet. It is not clear if the altered schedule for production is due to Apple pushing forward its release date. The move could show that Apple is planning to release its new iPhone earlier than it normally does, that it expects to sell far more of them or it is adding a number of changes making it longer for the phone to be made. There is somewhat of an indication that the Cupertino, California based... 
 

Hasbro Hits Sales Record Thanks to Ties with Disney

Shareholders at Hasbro received their wish during the holiday season as the toymaker posted sales that set new record topping $5 billion for the first time ever in the 94 years the toymaker has been in business. On Monday, the toymaker posted sales for its fourth quarter that were up 11% to end the quarter at $1.63 billion equal to $1.64 per share, which was well above the estimate by analysts of sales of $1.5 billion and per share earnings of $1.28. Investors were very pleased with the news helping send Hasbro stock up over 15% in Monday morning... 
 

Documents Show President Trump Still Receiving Benefits from Businesses

Prior to taking office, President Donald Trump made a promise to put his assets into a trust that was designed to put a wall between him and his businesses that help to make him so wealthy. However, new documents just released show Trump is still the sole beneficiary of his trust and that it is controlled legally by one employee and Trump’s eldest son. The documents that were obtained through a request in public records by a news service known as ProPublica showed as well that Trump holds legal power to revoke his trust at any moment. The documents... 
 

Honda Raises Forecast For Operating Profit by 21%

Honda Motor Co. has raised its full year forecast for operating profit for the second time during its current fiscal year as the automaker cited a favorable impact from rates of foreign exchange as the yen weakened following the election of Donald Trump as U.S. President. Operating profit is expected to increase to over 785 billion yen equal to $6.9 billion during its fiscal year that ends in March, up from a forecast during October of 650 billion yen, said the automaker based in Tokyo on Friday. Analysts have predicted operating profit for Honda... 
 

Nintendo Posts Profit, Outlook Pulled Down by Weak Sales in Software

On Tuesday, Nintendo Co posted its first profit for a quarter in the past year thanks to its mobile games division starting to generate revenue, though not a sufficient enough amount to offset weak software sales that dragged down its outlook for annual earnings. This result comes only six weeks after the game maker based in Japan released Super Mario Run its first smartphone title after bowing to heavy pressure from investors in 2015 to enter into the market of mobile games. While the profit for the quarter was an appropriate reward for its move,... 
 

Stock at Ebay Soars Following Increase in Sales During Holidays

Ebay Inc. posted a rise of 3.1% in its quarterly revenue during the holiday shopping season offering investors positive news as the revamped online marketplace was able to attract more buyers that helped to sell more products. Ebay revamped its marketplace platform so it could compete better against its larger rival in e-commerce Amazon.com and traditional retailers. Shares of the online marketplace rose by 7.5% in extended Wednesday trading. Ebay spun off PayPal its main driver of growth during 2015 and the revamping of its platform allowed it... 
 

AT&T Adds International Day Pass

Subscribers of AT&T have not had good choices when it comes to options for international roaming. The Passport plans for the carrier give tiny amounts of data even when at the highest tier that could make it less expensive to unlock the phone and use a SIM card that is travel friendly. However, now the network has announced something for the traveler who does not want to pullback on their usage while outside the U.S. AT&T is introducing “International Day Pass” that allows the user to take advantage of its domestic plan, including data... 
 

AT&T DirecTV Now Has 200,000 Subscribers in First Month

DirecTV Now, the new live streaming television service of AT&T got off to a shaky start due to performance, but that did not stop consumers from signing up, reported the company. AT&T said that the service added over 200,000 subscribers during its first month of being operational. This data was part of a filing with the Securities and Exchange Commission for the company’s quarter that ended December 31. The new TV streaming service made its debut November 30. The filing notes as well the additions in subscribers only included the paying... 
 

India Government Trying to Attract Apple, But Some Are Skeptical

Some government officials in India have balked at the demands made by Apple for concessions prior to it agreeing to assemble its iPhones in the country, which has raised doubts about a deadline for this spring to launch an important project in the campaign of Prime Minister Narendra Modi to attract foreign investors. The country wants the U.S. tech behemoth to produce the iPhone there, and Ravi Shankar Prasad the Information Technology Minister said Wednesday that his country would maintain an open mind in the ongoing negotiations. However, Apple’s... 
 

Rio Tinto Posts Solid Outlook for Coming Year

Rio Tinto the global miner could be able to reward its shareholders with a big hike in dividends or even a buyback of shares next year, thanks to the steep rise in the price of metals said an analyst on Tuesday. The decision by Rio Tinto last year to seek value over volume at its different mines as a way to ensure maximum returns to shareholders has put the second largest mining business in the world at the front of the price revival of commodities. The output and shipments during 2016 were in line with the company’s guidance and its kept targets... 
 

CEO at Sony Entertainment Stepping Down to Go to Snap

CEO Michael Lynton of Sony Entertainment will resign to become the Snap Inc chairman of the board. The move puts a very experienced executive from Hollywood into a prominent role at the technology company that is preparing its initial public offering. Lynton is giving up his current Sony movie and television position February 2, but will stay on as the co-CEO six months in order to help find his successor, said the Japanese conglomerate on Friday. Snap Inc is the owner of Snapchat the very popular messaging app and is expected early in 2017 to go... 
 

Donald Trump Upset with Pharmaceutical Companies Over Drug Prices

During his first president-elect news conference, Donald Trump on Wednesday accused pharmaceutical companies of being able to get away with murder because of the high cost for drugs. He added that he would change how the country bids on drugs so the prices will come down and spending is less. Trump said that the pharmaceutical industry has a number of lobbyists and a great deal of power. He said very little bidding takes place on drugs. He called the U.S. the largest purchaser of drug worldwide, but the bidding is done improperly. The government... 
 

Mars Spending $7.7 Billion for Animal Hospital Chain in Los Angeles

VCA Inc has over the past three decades consolidated the pet health industry into the leading animal hospital and diagnostic labs chain. Mars Inc, the candy maker, has agreed to purchase the Los Angeles based business for $7.7 billion. Mars is far better known for the candy it makes, but owns a large pet-care company. VCA has close to 800 animal hospitals that it operates along with 60 diagnostic labs across the U.S. and Canada. The company has over 23,000 employees and its revenue for 2015 was more than $2.1 billion. Founders of VCA via a letter... 
 

Battle Between iPhone and Galaxy to Begin in South Korea

Apple has confirmed that it plans to open its first South Korea retail store moving into the backyard of its biggest rival for smartphones Samsung Electronics. Apple, which this year celebrates its 10th anniversary of the iPhone said on Friday that it is very excited about having its first retail Apple Store in South Korea. The Cupertino, California based tech giant praised Korea as one of the leaders in technology and telecommunications. A spokesperson for Apple did not comment when asked when the store would be opening or where any of the Apple... 
 

Americans Love Their Tacos Says Jack in the Box

Over 1,000 times per minute someone takes a bit into a Jack in the Box taco. The restaurant chain is known around the U.S. for its hamburgers and large headed mascot. However, for many of the restaurant chain’s devotees, the fast food chain’s magic lies in its tacos. A tortilla that surrounds a beef filling dunked into an oil fryer and then topped with lettuce, American cheese and hot sauce, this taco appeared in the 1950s on the chain’s menu following the opening of its first restaurant in San Diego. As the restaurant chain expanded outside... 
 

Poison Pill Adopted By Fred’s As Active Investor Takes Big Stake

Regional chain, Fred’s Pharmacy is hoping to double its size through acquiring 865 stores from Rite Aid, on Tuesday adopted a poison pill to keep one of its activist investors from creating problems with its expansion plan. Alden Global Capital operated by Heath Freeman, has announced it acquired a stake of 24.8% in Fred’s, which is based in Memphis, Tennessee. Alden started buying shares of Fred’s on November 28. The hedge fund of $2 billion made an announcement last week it wanted to speak to management at Fred’s about allocation of assets. The... 
 

Airbus Selling Planes to Iran in Deal Similar to Boeing

Airbus, the European aircraft maker on Thursday completed a deal with Iran to sell the Islamic Republic 100 airplanes. The deal was described by both sides as a big step in the direction of revitalizing the aged commercial fleet of Iran after a number of years of economic isolation due to sanctions. The sales come just weeks after Airbus’ rival in the U.S. Boeing, signed a deal of its own with Iran for 80 planes, one of the most prominent transactions in decades between the U.S. and Iran. Both aircraft sales became possible due to provision in... 
 

McDonald’s Sued for Price of Extra Value Meal

A McDonald’s customer is seeking to take his lawsuit to class-action status claiming consumer fraud along with deceptive practices. The lawsuit was filed by James Gertie in Illinois on Tuesday. Gertie’s suit claims that the McDonald’s restaurants in the lawsuit have been offering a bundled Extra Value Meal with two-cheeseburgers that should be the restaurant’s best deal. However, he says the two cheeseburgers, medium fries and a soft drink are 41 cents less when sold individually than when the meal is formed into an Extra Value Meal at... 
 
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