Bill Ackman, a billionaire investor, has decided to postpone the listing of Pershing Square’s U.S. closed-end fund, as stated on the New York Stock Exchange’s website. The initial public offering of Pershing Square USA Ltd., with the ticker PSUS, has been delayed with a new date yet to be announced. Ackman is now aiming to
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Southwest Airlines, like many others in the industry, is facing challenges due to an oversupplied U.S. market. This oversupply has resulted in airlines being forced to discount tickets during what is typically the most lucrative period of the year. The company has forecasted a potential drop in unit revenue for the third quarter, with a
American Airlines recently announced a significant decrease in its profit forecast for the year. This adjustment came after a sales strategy failed to meet expectations and an oversupply of flights in the industry led to discounted seats. The initial forecast of $2.25 to $3.25 per share, made in April, has now been revised to an
Chipotle Mexican Grill recently reported quarterly earnings and revenue that exceeded analysts’ expectations. Despite a slowdown in the restaurant industry, the company saw higher traffic at its restaurants, leading to a rise in its stock price. However, the stock had been on a downward trend due to concerns about the overall health of the restaurant
Deutsche Bank’s recent financial report revealed a concerning trend as the bank snapped a 15-quarter profit streak with a narrower-than-expected loss. The net loss attributable to shareholders was 143 million euros, slightly better than the predicted loss of 145 million euros according to analysts. However, the bank’s decision to make a provision for an ongoing
Alphabet, the tech giant, saw a 1% decline in its stock despite beating both top and bottom line expectations in the second quarter. While the company reported earnings of $1.89 per share on $84.74 billion in revenue, investors were disappointed by a miss in revenue from its YouTube advertising segment. Shares of Tesla dipped 4.7%
The second-quarter earnings report from United Parcel Service (UPS) was met with disappointment as both their profit and revenue fell below expectations. This led to a 7% drop in UPS shares during premarket trading. The company revised its 2024 revenue guidance from a previous forecast of $94.5 billion to approximately $93 billion. Moreover, UPS adjusted
Berkshire Hathaway, led by Warren Buffett, made the decision to trim its significant Bank of America holding for the first time in over 4 years. This move comes after the bank’s strong performance throughout 2024. The conglomerate sold a total of 33.9 million shares of Bank of America in separate sales conducted on Wednesday, Thursday,
The second-quarter results for Detroit automakers are highly anticipated on Wall Street, with General Motors expected to shine brighter than its counterparts. Analysts predict a strong adjusted profit of $2.75 per share for GM, representing a 44.2% increase from the previous year. Additionally, GM is forecasted to report $45.46 billion in revenue, up by 1.6%
Despite initial skepticism, McDonald’s $5 value meal promotion has proven to be a successful marketing strategy that is driving traffic back to its restaurants. The fast-food giant announced that nearly every business unit, encompassing 93% of its restaurants, has voted to extend the promotion past its original end date. This decision reflects the positive impact