Hertz Shares Surge as Cost Cuts and Car Sales Drive Surprise Profit
Hertz Global (HTZ) posts its first profit in over two years, driven by lower vehicle costs, strong car sales, and record fleet utilization, sending shares soaring over 38%.
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Starbucks Sells 60% Stake in China Unit to Boyu Capital for $4 Billion
Starbucks is selling a 60% stake in its struggling China business to Boyu Capital, aiming to boost growth and reconnect with customers amid rising competition from local coffee brands.
Netflix in Talks with iHeartMedia to Bring Video Podcasts Exclusively to Its Platform
Netflix is reportedly negotiating with iHeartMedia to stream popular video podcasts exclusively, aiming to rival YouTube’s dominance in the video podcast space.
Baidu's Apollo Go Hits 250,000 Weekly Robotaxi Rides, Matching Alphabet's Waymo
Baidu's robotaxi unit hit 250,000 driverless weekly rides, matching Waymo's figures. They report zero major accidents.
BofA Downgrades DraftKings to Neutral, Cuts Price Target to $35
BofA cuts DraftKings rating to Neutral from Buy and lowers the price target to $35 from $48, citing four key concerns about volatility, iGaming, taxes, and market sentiment.
Norway Fund Rejects Musk Pay Amid Tesla Sales Slump
The world's largest wealth fund opposes Elon Musk's huge compensation package due to concerns over size and dilution, as Tesla simultaneously struggles with massive EV sales declines in Europe and China.