Sales of new single-family homes dropped 13.7% in May compared with April to 623,000 units on a seasonally-adjusted, annualized basis, according to the U.S. Census. That sales total was 6.3% lower than May 2024 and well below both the 6-month average of 671,000 and the one-year average of 676,000. It also lags the pre-pandemic average in 2019 of 685,000 units sold. Wall Street analysts were expecting May new home sales of 695,000, according to estimates from Dow Jones. This count is based on signed contract ...

The company reported financial results after market close Tuesday and logged record fiscal year revenue of $820.6 million, up 14% over the prior period. AeroVironment reported net income of $16.66 million for the fourth quarter, or 59 cents per share, compared to net income of $6.05 million, or 22 cents per share, last year. This is breaking news. Please refresh for updates. Earnings: $1.61 per share adjusted vs $1.39 per share expected Revenue: $275 million vs $242 million expected In this article An unman ...

DANA POINT, CALIFORNIA - SEPTEMBER 27: Whitney Wolfe Herd, Founder & CEO, Bumble speaks onstage during Vox Media's 2023 Code Conference at The Ritz-Carlton, Laguna Niguel on September 27, 2023 in Dana Point, California. (Photo by Jerod Harris/Getty Images for Vox Media)Bumble shares rallied more than 15% Wednesday after the dating app company revealed in a securities filing that it intends to slash 30% of its workforce, or about 240 roles.The layoffs will result in $13 million to $18 million in charges for ...

The Amazon division is launching the tool as part of a broader push by the doorbell maker into AI, Ring CEO Jamie Siminoff said in a release. "We are just starting to scratch the surface of AI," said Siminoff, who founded Ring in 2011. Ring security cameras are displayed on a shelf at a Target store on June 01, 2023 in Novato, California. Amazon's Ring video doorbell division is rolling out AI-generated notifications alerting users to unusual or suspicious activity around their home, the company said Wednes ...

Core Insights - Meta has chosen Louisiana for its largest data center, a $10 billion investment aimed at expanding its artificial intelligence operations [3] - The data center will be the largest in the Western Hemisphere, covering 2.4 million square feet and located on a 2,250-acre site [1][3] - The project is expected to create 500 permanent jobs and 5,000 temporary jobs during construction [4] Group 1: Economic Impact - The data center is seen as a transformative project for Louisiana's economy, prompting a reevaluation of the state on both domestic and international fronts [2] - The local utility, Entergy, is preparing to build three gas-fired power plants at the site, costing over $3 billion, to meet the energy demands of the data center [6] Group 2: Site Selection and Requirements - Meta required a large contiguous plot of land with necessary infrastructure and energy access, which Louisiana was able to provide [5] - The site chosen is equivalent to about 1,700 football fields, a size that few states could accommodate [5] Group 3: Financial Incentives - Louisiana implemented a 20-year sales tax exemption for data centers built before 2029, a crucial factor in attracting Meta [7] - The exemption allows Meta to avoid potentially billions in sales tax on equipment needed for the data center [8]

Luxury retailer Coach has made a comeback after a strategic rebrand, successful celebrity partnerships and revamped designs.And it's drawing in younger shoppers. More than two-thirds of Coach's nearly 900,000 new customers in North America were Gen Zers and millennials in the last quarter, the brand said.  Coach President and CEO Todd Kahn said he and creative director Stuart Vevers focused on what they called the "timeless Gen Z client, " which "became the muse" for the company."When we started focusing ve ...

Bipul Sinha, co-founder and CEO of Rubrik, a Microsoft-backed cybersecurity software company, rings the opening bell during his company’s IPO at the New York Stock Exchange in New York on April 25, 2024.Data management software vendor Rubrik said Wednesday that it's buying Predibase, a startup that helps with the deployment of artificial intelligence models.Terms of the deal weren't disclosed, but a person familiar with the transaction said Rubrik intends to pay between $100 million and $500 million. The pe ...

A group of activists criticizing Elon Musk and Tesla's policies hold a protest outside a Tesla dealership in London's Park Royal district, on April 12, 2025 in United Kingdom. Tesla new car sales in Europe fell for a fifth straight month in May, according to data from the European Automobile Manufacturers Association (ACEA), as customers pivot to cheaper Chinese electric vehicles. The Tesla CEO has since left the Trump administration, amid a bitter online feud with the U.S. president. Chinese manufacturers ...

CNBC's Jim Cramer on Tuesday told investors the market no longer seems to be concerned about the potential for Chinese startup DeepSeek to outpace the tech titans currently leading in the artificial intelligence arena."This data center renaissance, so shocking to the people who abandoned these stocks — the Nvidias, the AMDs, the Vertivs, the Microns, the Marvell Technologies — are all back or nearly back," he said. "And the story…that Nvidia CEO Jensen Huang calls the new industrial revolution, is once agai ...

Core Insights - FedEx reported better-than-expected quarterly earnings and revenue, achieving its $4 billion cost-cutting goal and aiming for an additional $1 billion in the upcoming fiscal year [1][6] - Despite positive earnings, FedEx's stock dropped about 5% in after-hours trading due to current-quarter profit guidance that was slightly below Wall Street expectations [2] - The company’s fiscal fourth quarter net income was $1.65 billion, or $6.88 per share, compared to $1.47 billion, or $5.94 per share, a year earlier [4] Financial Performance - FedEx's revenue for the fiscal fourth quarter rose to $22.22 billion, up from $22.1 billion a year earlier [4] - For the full fiscal year, revenue was $87.9 billion, an increase from $87.7 billion in fiscal 2024 [5] - The U.S. daily package volume increased by 6% year over year, with U.S. ground home delivery volume specifically up 10% year over year [3] Cost Management and Future Guidance - FedEx's capital spending for fiscal 2025 was $4.1 billion, down 22% from $5.2 billion in fiscal 2024, marking the lowest capital spending as a percentage of revenue in the company's history [5] - The company achieved its DRIVE program target of $4 billion in savings by the end of fiscal 2025, with a goal of $1 billion in additional cost reductions for fiscal 2026 [6] - For the fiscal first quarter of 2026, FedEx forecasts revenue to be flat to up 2% year over year, while adjusted earnings per share are expected to be slightly under analyst estimates [7] Strategic Developments - FedEx announced plans to spin out its Freight division, expecting the tax-free spin-off to be executed within 18 months [8] - The quarterly results were released shortly after the death of FedEx's founder and executive chairman, Fred Smith [8]