General News

McDonald's to launch $5 meal deal to lure low-income diners, Bloomberg News reports May 10, 2024 12:19PM

(Reuters) -McDonald's is preparing to launch a $5 meal deal at its U.S. restaurants to draw more inflation-hit customers back to its outlets, Bloomberg News reported on Friday, citing a person familiar with the matter.

The deal could include a McChicken or a McDouble, along with fries and a drink, the report said.

Shares of the company were up 2.5% in afternoon trading after the news.

Global fast food chains like McDonald's... (continue reading...)

After layoffs, Musk says Tesla to spend $500 million on charging network May 10, 2024 12:06PM

(Reuters) -Tesla will spend more than $500 million this year to expand its fast-charging network, CEO Elon Musk said on Friday, days after abruptly laying off employees who were running the business.

"Just to reiterate: Tesla will spend well over $500M expanding our Supercharger network to create thousands of NEW chargers this year," Musk said in a post on his social media platform X.

"That's just on new sites and expansions, not counting... (continue reading...)

Midday movers: Novavax, Nvidia, Sweetgreen rise; Moderna, Yelp fall May 10, 2024 11:59AM (Updated - May 10, 2024 11:59 AM EDT)

Investing.com -- Main U.S. indexes edged lower Friday after preliminary data showed consumers' inflation expectations rose more than anticipated in May.

Here are some of the biggest U.S. stock movers today:

• Novavax (NASDAQ: NVAX) stock soared 125% after the biotech company signed a deal with French drugmaker Sanofi (NASDAQ: SNY), up 0.3%, to develop its Covid vaccine starting next year.

• Moderna (NASDAQ: MRNA) stock fell 3% after... (continue reading...)

Roblox stock: Industry expert explains why Wall Street is wrong May 10, 2024 09:02AM

Roblox’s latest quarterly earnings release resulted in the stock plunging over 22% in Thursday’s session as the company’s bookings guidance disappointed. 

However, one industry analyst said the focus should be on the long-term, not the immediate numbers.

Roblox sinks on guidance

While its booking outlook disappointed, Roblox reported first-quarter financial results that surpassed analyst expectations for earnings and revenue. The company announced a Q1 loss per... (continue reading...)

Fed likely to cut interest rates this year as economy slows - Bostic May 10, 2024 09:02AM

Investing - The U.S. Federal Reserve is likely to cut interest rates this year, according to Atlanta Federal Reserve President Raphael Bostic, even if the timing remains uncertain.

"I still have that belief" that interest rates can be lowered this year, Bostic said in an interview with Reuters published earlier Friday, despite inflation remaining well above the central bank’s target during the first quarter of this year.

"There is an expectation for most of the... (continue reading...)