Apollo Global Ends Bid to Take Papa John’s Private
Private equity firm Apollo withdrew its $64-a-share bid for Papa John's due to tightening consumer spending and expected tough Q3 earnings (7% drop).
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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.
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.
Record Earnings, Revenue Miss: Norwegian Cruise Line Sparks Demand Concerns in Q3
NCLH reported record profit but missed revenue, causing the stock to fall ~10%. Full-year profit forecast was still raised.
Uber’s Bookings Surge on Membership Demand, Yet Profit Forecast Leads to Share Drop
Uber’s Q3 financial results showed massive growth in bookings and trips, fueled by the Uber One membership, even though profit forecasts slightly missed Wall Street expectations.
Yum! Brands Explores Strategic Options for Struggling Pizza Hut Chain
Yum! Brands initiates strategic review for Pizza Hut after seven consecutive quarters of declining sales. Exploring potential sale or restructuring as brand struggles in competitive pizza market.