Target was hit with a class-action lawsuit on Friday after shareholders alleged the national retailer misled investors about the risks of its DEI initiatives, which led to consumer boycotts and its stock price to tank.The class action suit, led by the City of Riviera Beach Police Pension Fund, alleges that Target misused investor funds for “political and social goals,” and duped investors into buying stock at “artificially inflated prices.” The suit claims that Target made fraudulent public statements regar ...

Core Insights - Temu is shifting its strategy to promote "local" products stored in US warehouses following the revocation of a trade loophole that previously allowed it to avoid taxes and customs duties [1][3][4] - The company aims to reduce its reliance on Chinese merchants and compete more effectively with US rivals like Amazon, eBay, and Walmart [7][10] Group 1: Strategic Shift - Temu is emphasizing products with a green "local" badge, indicating they are sourced from US warehouses, with prices starting as low as $1.99 [1][2] - The company has ramped up its promotion of sellers with US inventory to mitigate the impact of new tariffs and customs regulations [5][8] - By July 2024, approximately 20% of Temu's US sales were generated from sellers with US warehouses, rather than directly from Chinese merchants [10] Group 2: Competitive Landscape - Temu and its competitor Shein have gained significant market share in the US, with exports soaring from $5.3 billion in 2018 to $66 billion in 2023 [9] - Traditional retailers like Amazon have taken notice and launched their own low-price storefronts to compete with fast-fashion sites like Temu and Shein [7][8] - The competitive environment is intensifying as both Temu and Shein adapt their strategies to include US-based sellers and distribution centers [10][12] Group 3: Regulatory Challenges - The elimination of the de minimis exemption and the imposition of a 10% tariff on Chinese goods could lead to increased prices and shipping delays for Temu [3][4] - Recent regulatory actions, including a brief ban on inbound packages from China by the United States Postal Service, add further complexity to Temu's operations [11]

Core Viewpoint - News Corp reported better-than-expected quarterly earnings, driven by growth in its digital real estate, Dow Jones, and book publishing divisions, resulting in a 58% increase in profits for the second quarter [1]. Financial Performance - The company reported a net income of $306 million, or 38 cents per share, compared to $156 million, or 27 cents per share, in the previous year, with adjusted earnings per share totaling 33 cents [2]. - Quarterly revenue increased to $2.24 billion from $2.14 billion a year earlier, surpassing analyst expectations of $2.18 billion [3]. - The real estate division saw a 17% revenue increase to $343 million, while the Dow Jones unit achieved record revenues of $600 million [3]. Division Highlights - The book publishing group, which includes HarperCollins, reported 8% revenue growth and 19% earnings growth [4]. - The CEO emphasized the importance of the company's partnership with OpenAI and criticized Generative AI, highlighting the value of trusted news content in the AI landscape [5][7]. Market Outlook - The CEO noted a tangible increase in business confidence in the US since the election, suggesting a positive economic outlook [5]. - The company anticipates that current trends will lead to reduced regulation and increased opportunities for Americans [6].

Core Insights - Ford Motor projected losses of up to $5.5 billion in its electric vehicle and software operations for the year, indicating ongoing challenges in reducing costs for battery-powered models [1] - The company reported a net profit of $1.8 billion for the fourth quarter, a significant improvement from a loss of $500 million in the same quarter last year [1] - Ford's CEO, Jim Farley, expressed concerns about potential tariffs on goods from Mexico and Canada, which could significantly impact industry profits and US jobs [3][5] Financial Performance - Ford's fourth-quarter revenue reached $48.2 billion, exceeding analyst expectations of $43 billion, with adjusted earnings per share of 39 cents, surpassing forecasts of 33 cents [6] - The company met its annual guidance for 2024, recording annual EBIT of $10.2 billion, but projected lower earnings before interest and taxes of $7.0 billion to $8.5 billion for 2025 [12] Electric Vehicle Strategy - Significant cuts were made to Ford's EV plans, including the cancellation of a three-row electric SUV and delays in launching the next-generation electric F-150 Lightning truck [7][10] - Ford sold approximately double the number of hybrids compared to EVs last year, with 187,426 hybrids sold versus 97,865 EVs [9] - The company is focusing on a multi-powertrain approach to mitigate potential impacts from the elimination of the federal EV tax credit [11] Tariff Concerns - The company did not factor potential tariffs into its annual outlook, despite the recent executive order imposing 25% tariffs on goods from Mexico and Canada [13] - Tariffs could affect popular models like the Maverick pickup truck and the Mustang Mach-E SUV, which are assembled in Mexico [14] - Analysts noted that Ford is the least exposed to tariffs among the Big Three Detroit automakers, as GM and Stellantis produce more profit-rich vehicles outside the US [14]

Google parent Alphabet’s stock plunged by more than 8% — wiping out more than $200 billlion in market value — after the search giant unveiled plans for a massive uptick in AI-related spending despite a slowdown in revenue.Google and other US tech firms are facing intense investor scrutiny over their ballooning AI spending plans after Chinese startup DeepSeek revealed last month it had trained a model for less than $6 million – purportedly without access to chip supplier Nvidia’s best hardware.Alphabet share ...

Walt Disney sharply outperformed Wall Street’s quarterly earnings estimates on Wednesday, with results buoyed by the strong holiday box office performance of animated sequel “Moana 2,” though the company warned of a modest decline in Disney+ streaming subscribers in the coming quarter.The strength in entertainment helped offset a decline at Disney’s domestic theme parks, which were impacted by hurricanes Helene and Milton in Florida. The parks-led Experiences group also incurred about $75 million in expense ...

Exclusive: Walmart – the nation’s largest private employer – is eliminating hundreds of roles and closing one of its North Carolina offices as it continues to pull workers back to its main hubs in California and Arkansas, according to an internal memo seen by FOX Business on Tuesday.Walmart Chief People Officer Donna Morris said in the memo sent to employees that the company is cutting roles and asking office-based employees in Hoboken, NJ, and some of its smaller offices to relocate to the company’s newly ...

Core Insights - Alphabet missed Wall Street estimates for quarterly revenue, indicating challenges from increased competition in the digital advertising market and a slowdown in its cloud computing business [1] - The company's shares fell over 6% in extended trading, although Alphabet has gained about 9% year-to-date [1] Revenue Performance - Revenue rose 12% to $96.47 billion in the fourth quarter, which was below the average analyst estimate of $96.56 billion [4][5] - The company reported a profit of $2.15 per share, slightly beating estimates of $2.13 per share [5] Cloud Business Insights - Google's Cloud business revenue increased by 30% to $11.96 billion in the fourth quarter, a slowdown from the 35% increase in the previous quarter [2][3] - Analysts had expected a rise of 32.3% to $12.16 billion for the cloud business [2]

Group 1: Antitrust Probes - China has initiated an antitrust investigation against Google, focusing on the Android operating system and its impact on Chinese phone manufacturers [1][3] - Nvidia is also under investigation for potential antitrust violations, following restrictions imposed by the Biden administration on its high-end hardware exports to China [2] - Intel is being considered for a formal antitrust probe, although details are not yet clear [2] Group 2: Trade Relations and Retaliation - The antitrust actions are part of broader retaliatory measures by China in response to a new 10% tariff on Chinese imports imposed by President Trump [1][6] - China has tightened export controls on critical minerals and added new tariffs on US coal, oil, and certain agricultural equipment, signaling a willingness to harm US interests [6][7] Group 3: Market Reactions and Company Performance - Shares of Google parent Alphabet rose nearly 2%, while Nvidia shares increased by 1.6%, and Intel shares remained flat [4] - Google derives approximately 1% of its global revenue from China, and the ongoing investigation adds to its regulatory challenges, including a separate federal antitrust case in the US targeting its digital advertising business [9][10]

Core Viewpoint - The legal battle between Google and Epic Games centers on allegations of Google's monopolistic practices in the app store market, with a federal appeals court set to hear Google's appeal against a ruling that favored Epic Games [1][2][3]. Group 1: Legal Proceedings - Google is appealing a 2023 antitrust ruling that found it had stifled competition, arguing that the trial judge made legal errors that unfairly benefited Epic Games [1][2][12]. - The 9th US Circuit Court of Appeals is considering Google's appeal, which includes a request to overturn a judge's order requiring changes to its app store [3][11]. - Epic Games is opposing Google's appeal, asserting that the company has engaged in a long-term strategy to suppress competition in app stores and payment solutions [6]. Group 2: Judge's Ruling and Implications - US District Judge James Donato described Google's actions as "deeply troubling" and issued an order for Google to allow rival app stores within its Google Play store [3][4]. - The judge's order is currently on hold pending the appeal, but it mandates that Google make its app catalog available to competitors [3][4]. - Google contends that the judge's ruling impacts users and developers nationwide, rather than just Epic, and argues that it is acting as a "central planner" for product design [4][14]. Group 3: Competitive Landscape - Google claims that its Play store faces significant competition from Apple's App Store, and argues that the trial judge allowed Epic to misrepresent the competitive landscape [4]. - In September, Epic filed a second antitrust suit against Google, alleging collusion with Samsung to hinder rival app developers [13]. - Microsoft, the US Justice Department, and the Federal Trade Commission have filed briefs in support of Epic Games in this legal dispute [10].