Shake Shack's shares fell 30% after the company reported disappointing quarterly results, missing Wall Street's sales and profit estimates. The burger chain lost $290,000 compared to a $4.25 million profit last year, with revenues rising 14.3% to $367 million but below expectations. The company cited bad weather in January and March, rising beef prices, and a decline in tourism, especially in New York City, as key factors hurting performance. Shake Shack also announced a new CFO, Michelle Hook, to succeed Katherine Fogerty.
The US government announced it will impose a new 25% tariff on Brazilian ethanol starting next Wednesday, accusing Brazil of unfair trade practices. This tariff excludes major Brazilian exports like oil, beef, coffee, and aircraft parts. The move fol...
Alibaba and Baidu shares rose after Apple received approval from China's Cyberspace Administration to include Apple Intelligence, integrating Alibaba's Qwen AI model and Baidu's AI features into Apple devices in China. This partnership allows users t...
Ondo Finance has introduced the first tokenized stock representations backed by DTCC tokenized entitlements, joining major financial firms in a significant tokenization initiative. This move highlights Ondo's unique position in building infrastructur...
Leading Japanese companies, startups, and research institutions are developing specialized AI models using NVIDIA Nemotron open models to address Japan's unique language, industrial, and workforce challenges. These AI applications range from enterpri...
ERock, Inc. received a buy rating due to its innovative modular natural-gas power systems that help data centers avoid long waits for permanent grid power. The company has a strong $1.3 billion backlog supported by customer deposits, providing clear ...
