Krispy Kreme stock plunged 24% on Thursday morning after the doughnut chain said it is “reassessing” its rollout with McDonald’s and pulled its full-year outlook in part due to economic “softness.” Krispy Kreme is not planning to launch its doughnuts in any additional McDonald’s locations in the second quarter, suspending a nationwide rollout. As of March 30, more than 2,400 of the burger ...
A group of investors sued UnitedHealthcare Group on Wednesday, accusing the company of misleading them after the killing of its CEO, Brian Thompson. The class action lawsuit — filed in the Southern District of New York — accuses the health insurance company of not initially adjusting their 2025 net earning outlook to factor in how Thompson’s killing would affect their ...
A federal judge ruled on Monday that a class action lawsuit alleging that Burger King falsely advertised the size of its signature cheeseburger can move forward. U.S. District Judge Roy K. Altman in Florida found ‘some’ merit to the plaintiff’s argument that the fast food chain advertised its Whopper cheeseburger and other menu items to appear bigger than they are. ...
Advanced Micro Devices CEO Lisa Su said China is a “large opportunity” market for the semiconductor and artificial intelligence industry even as export controls and evolving tariff plans loom over the world’s second-largest economy. “There should be a balance between export controls for national security as well as ensuring that we get the widest possible adoption of our technology,” Su told CNBC’s “Squawk on the ...
National Basketball Association superstar Russell Westbrook is taking a shot off the court at simplifying funeral planning with artificial intelligence. The famed Denver Nuggets point guard on Wednesday announced the launch of Eazewell, a startup that uses AI technology to streamline the process for coordinating funerals. Westbrook founded the venture with former Charlotte Hornets star Kemba Walker and childhood friend Donnell ...
U.S. pharmacy chain Rite Aid on Monday filed for bankruptcy protection for the second time in as many years, according to a court filing. Pharmacy chains, such as Rite Aid, Walgreens and CVS, have been under pressure as falling drug margins and competition from Walmart and Amazon have led to a closure of hundreds of stores. Walgreens, facing significant losses, recently agreed ...
Amazon’s Zoox issued a software recall for 270 of its robotaxis after a crash in Las Vegas last month, the company said Tuesday. The recall surrounds a defect with the vehicle’s automated driving system that could cause it to inaccurately predict the movement of another car, increasing “the risk of a crash,” according to a report submitted to the National Highway Traffic ...
Footwear giant Skechers has agreed to be acquired by private equity firm 3G Capital for $63 per share, ending its nearly three-decade run as a public company, the retailer announced Monday. The price 3G Capital agreed to pay represents a 30% premium to Skechers’ current valuation on the public markets, which is in line with similar takeover deals. Shares of Skechers soared ...
Chinese bargain retailer Temu changed its business model in the U.S. as the Trump administration’s new rules on low-value shipments took effect Friday. In recent days, Temu has abruptly shifted its website and app to only display listings for products shipped from U.S.-based warehouses. Items shipped directly from China, which previously blanketed the site, are now labeled as out of stock. Temu made ...
Amazon founder Jeff Bezos plans to sell up to 25 million shares in the company over the next year, according to a financial filing on Friday. Bezos, who stepped down as CEO in 2021 but remains Amazon’s top shareholder, is selling the shares as part of a trading plan adopted on March 4, the filing states. The stake would be worth about $4.8 billion ...