Sports bar chain Twin Peaks starts trading Thursday on the Nasdaq using the ticker “TWNP,” making it the first restaurant initial public offering of the new year and a potential litmus test for others looking to go public. The IPO market has been tepid for several years, particularly for consumer companies. Soaring inflation, higher interest rates, cautious consumers and the ...
Shares of United Parcel Service plunged more than 15% Thursday after the company issued weak revenue guidance for the year and said it planned to cut deliveries for Amazon, its largest customer, by more than half. The shipping giant said in its fourth-quarter earnings report that it “reached an agreement in principle with its largest customer to lower its volume by more than 50% by ...