SunTrust reiterated its buy rating on Shake Shack despite existing and planned store overlap that will eat into same-store sales. The burger chain opened nine stores within 15 miles of comparable locations in 2016 and plans to open another 25 in 2017 just as close, according to analysts. But with the increasing concentration of stores, […]
Read moreAndy Page, formerly president of Google-backed 23andMe, is joining Livongo, a chronic disease management start-up, as its president and chief financial officer. Livongo’s goal is to help patients with diabetes manage their disease before they end up getting seriously ill. The idea is to suggest lifestyle or medication changes well before the user ends up […]
Read moreWhen Jeff Bezos founded Amazon back in 1994, it started as an online marketplace for books. But today, Amazon has changed the landscape of retail, allowing customers to have nearly anything, from shampoo to refrigerators, delivered to their doorstep within days. Amazon also propelled its founder to immense success: Bezos is worth an estimated $82.5 […]
Read moreAuthorities in Oregon are warning people not to watch Monday’s solar eclipse from the side of the road, concerned about jammed freeways and car crashes caused by distracted drivers. In California, officials who run the state’s electric grid are preparing for a loss of solar power that could reach 67 percent. North Carolina could see […]
Read moreNike is starting to lose its dominant brand cachet in sports apparel, according to some on Wall Street. Jefferies lowered its rating for Nike to hold from buy on Monday, citing lost sales to its surging competitor Adidas. “The athletic footwear cycle and Nike brand power are strong, but the competitive landscape should make share […]
Read moreVenture-backed private companies will be become more like public companies in the future thanks to cryptocurrencies, and tokenization of private companies’ interests on the blockchain. The implications of this are profound for venture capitalists, as well as the cultures of private high-growth companies they back. The lawsuit that Uber investor Benchmark Capital recently filed against […]
Read moreWal-Mart is quietly growing its online grocery pilot, rolling out the service in two more urban markets this week. If you live in Orlando or Dallas, you will now be able to order your groceries on Walmart.com and have them delivered to your house via Uber, the big-box retailer announced on Monday. Until now, the […]
Read moreGerman Chancellor Angela Merkel criticized her predecessor, Gerhard Schroeder, on Monday for taking a new job at Russian oil producer Rosneft and said she did not intend to take any posts in industry once she leaves politics. The nomination of Social Democrat Schroeder to the board of Rosneft, subject to Western sanctions over Moscow’s role […]
Read moreA win for the Democrats in Congress next year may push U.S. President Donald Trump to resign rather than face a possible impeachment, says a political risk analyst. “If the Democrats win in 2018 as far as the House of Representatives, they can then actually publish the tax returns of the president,” John Raines, head […]
Read moreCheck out which companies are making headlines before the bell: Sempra Energy – Sempra announced a deal to buy power transmission company Oncor for $9.45 billion in cash. Under terms of the deal, Sempra will own about 60 percent or Oncor’s holding company, Energy Future Holdings. Sempra beat out Warren Buffett’s Berkshire Hathaway, which had […]
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