D.R. Horton profit falls 18% in Q4 as buyers back out and outlook cools
Sales cancellations rose to 23% as mortgage rates climbed, and the company said it doesn’t expect rates to fall soon D.R. Horton saw profits fall short of analyst expectations and revenue slip as high mortgage rates made more buyers back out of deals. Profits fell...
United Airlines Coasts Past Wall Street Estimates As Jet Fuel Prices Rise
As jet fuel costs continue to trend up, United and Delta Airlines have strapped in for the long haul, quietly edging out competitors in a downturn. United, which has invested heavily in premium offerings for brand loyalists, has remained steadfast as a trusted brand...
What’s NEXT for McDonald’s franchisees
McDonald’s is making a plan that would require its U.S. franchisees to spend approximately $800,000 per restaurant on upgrades in order to win back customers, and McDonald's is promising to cover part of the cost. At its Sept. 23 investor day, the company announced...
To Buy its Treasured GPUs, CoreWeave Taps Junk Bonds for AI Build-Out
CoreWeave sold more than $5 billion in convertible and junk bonds in late September to finance its continued spending on building AI infrastructure. Some of that money will go directly to its upcoming billion-dollar data center in Virginia. The bond sales reflect...
Robinhood pushes stock trading toward a 24/7 future
Robinhood plans to let customers trade select US stocks and exchange-traded funds 24 hours a day, seven days a week, pushing the brokerage further toward a market where retail investors can react to news whenever it breaks. The company announced the expansion on...
Bitcoin Miners Pivot into AI Landlords
Riot Platforms spent years using enormous amounts of electricity to mine bitcoin. Now it is making the shift toward renting out its power infrastructure to AI companies including Anthropic and chipmaker AMD. Investors have taken notice. As of Sept. 22, Riot shares had...
More Pain To Come: Nike Posts Subpar Revenue, Issues Bleak Guidance
Nike Inc. (NYSE: NKE) reported weaker-than-expected earnings in its most recent quarter and issued a disappointing outlook for the year, deepening Wall Street’s pessimism on the prospects of the company’s turnaround strategy. Revenue in the fiscal first quarter ended...
UnitedHealth to reset insurance business as Medicare leader takes the helm
UnitedHealth Group is reshuffling its leadership as it tries to reverse a downturn in its insurance business and improve profitability. Robert “Bobby” Hunter announced his appointment as UnitedHealthcare president in a September 28 LinkedIn post, an unusual way for...
IonQ and Sandia Laboratories to Develop Quantum Technologies for National Security
IonQ Inc. (NYSE: IONQ) partnered with Sandia National Laboratories to develop technologies and hardware for various national security applications. Together, the quantum computing hardware giant and the national nuclear security laboratory will be designing quantum...
Airbnb boasts a new AI-forward search update
Airbnb is betting that a new AI search experience will help it continue to win over travelers in a move that’s already charmed Wall Street. The changes include an optional, toggle-controlled AI search bar where users can write what they’re looking for in plain...