23 mins. ago
During the September 11 episode of Mad Money, a caller asked whether to buy, sell, or hold shares of The Kraft Heinz Company (NYSE:KHC). Jim Cramer replied:
No, I don't want you to do that… And I'll tell you why. Because it's not that I believe in the greater man theory, but this Steve Cahillane, who's the CEO, he saved Kellogg and made people a ton of money. He's going to do the same thing with Kraft Heinz. Let's give him a chance. Let's give him six months, okay? I think he'd appreciate that if we give him six months. He's been here for a while, and he's a… person [who] really likes to... [take] action. Don't leave it. Please don't leave Kraft Heinz.
The comments build on his June 2 view that he was willing to "take on the risk" of owning Kraft Heinz because of Cahillane's record at Kellogg. At the time, however, Cramer said he had "not all that much faith in Kraft or Heinz after previous management gutted the company."
The Kraft Heinz Company's (NYSE:KHC) second-quarter results show why the turnaround remains unfinished. Net sales fell 1.4% year over year to $6.26 billion, while organic net sales declined 1.3%. Adjusted operating income fell 18.4% to $1 billion, while North American sales declined 2.7%. Management raised its 2026 organic net-sales outlook to a decline of 0.5% to 2%, from the previous range of a 1.5% to 3.5% decline. It also increased incremental investment by $100 million to approximately $700 million in 2026, with the company targeting a return to volume-led, sustainable and profitable growth.
On September 2, Kraft Heinz said it will hold an Investor Day on November 12 to present its long-term strategy for "sustainable volume-led and profitable growth." Cahillane said, "Our brand investments are gaining traction and driving improved performance."
#kraft #give #september
No, I don't want you to do that… And I'll tell you why. Because it's not that I believe in the greater man theory, but this Steve Cahillane, who's the CEO, he saved Kellogg and made people a ton of money. He's going to do the same thing with Kraft Heinz. Let's give him a chance. Let's give him six months, okay? I think he'd appreciate that if we give him six months. He's been here for a while, and he's a… person [who] really likes to... [take] action. Don't leave it. Please don't leave Kraft Heinz.
The comments build on his June 2 view that he was willing to "take on the risk" of owning Kraft Heinz because of Cahillane's record at Kellogg. At the time, however, Cramer said he had "not all that much faith in Kraft or Heinz after previous management gutted the company."
The Kraft Heinz Company's (NYSE:KHC) second-quarter results show why the turnaround remains unfinished. Net sales fell 1.4% year over year to $6.26 billion, while organic net sales declined 1.3%. Adjusted operating income fell 18.4% to $1 billion, while North American sales declined 2.7%. Management raised its 2026 organic net-sales outlook to a decline of 0.5% to 2%, from the previous range of a 1.5% to 3.5% decline. It also increased incremental investment by $100 million to approximately $700 million in 2026, with the company targeting a return to volume-led, sustainable and profitable growth.
On September 2, Kraft Heinz said it will hold an Investor Day on November 12 to present its long-term strategy for "sustainable volume-led and profitable growth." Cahillane said, "Our brand investments are gaining traction and driving improved performance."
#kraft #give #september
25 mins. ago
Burford Capital Limited (NYSE:BUR) announced on September 14 that its indirect, wholly owned subsidiary, Burford Capital Global Finance LLC, priced $300 million of 8% senior secured notes due 2029. Closing is expected September 17, subject to customary conditions.
Net proceeds and existing cash are intended to redeem the subsidiary's 6.25% unsecured notes due in 2028. The transaction would move this maturity into 2029, with a coupon 175 basis points higher.
The September 14 offering announcement confirmed $400 million of outstanding 2028 notes, making the cash contribution central to the refinancing. Burford Capital Limited (NYSE:BUR) said it expected to issue a conditional notice targeting September 24, 2026, for redemption of all $400 million, subject to successful completion of the $300 million financing.
For Burford Capital Limited (NYSE:BUR), refinancing ahead of maturity creates more room for litigation investments to generate cash. Court proceedings, settlements, and collections follow uncertain schedules. Reducing dependence on a particular realization date could help management preserve investment value.
Redeeming the confirmed $400 million balance with $300 million of replacement notes would reduce gross principal by $100 million. Calculated annual coupons would fall from $25 million to $24 million, before fees and other financing costs.
#capital #september #NYSE
Net proceeds and existing cash are intended to redeem the subsidiary's 6.25% unsecured notes due in 2028. The transaction would move this maturity into 2029, with a coupon 175 basis points higher.
The September 14 offering announcement confirmed $400 million of outstanding 2028 notes, making the cash contribution central to the refinancing. Burford Capital Limited (NYSE:BUR) said it expected to issue a conditional notice targeting September 24, 2026, for redemption of all $400 million, subject to successful completion of the $300 million financing.
For Burford Capital Limited (NYSE:BUR), refinancing ahead of maturity creates more room for litigation investments to generate cash. Court proceedings, settlements, and collections follow uncertain schedules. Reducing dependence on a particular realization date could help management preserve investment value.
Redeeming the confirmed $400 million balance with $300 million of replacement notes would reduce gross principal by $100 million. Calculated annual coupons would fall from $25 million to $24 million, before fees and other financing costs.
#capital #september #NYSE
43 mins. ago
Hub Group, Inc. (NASDAQ:HUBG) disclosed on September 14 that preliminary, unaudited first-half 2026 revenue was expected to reach $1.7 billion to $1.8 billion, near management's expectations. Yet management anticipated an operating loss before one-time charges. This non-GAAP presentation excludes those charges, but neither the loss nor the exclusions were quantified.
Hub Group, Inc. (NASDAQ:HUBG) identified higher fuel, rail, and drayage costs, excess warehouse capacity, and accounting-review and restatement expenses. The central issue is whether pricing and efficiency improvements can restore profitability on the revenue already moving through the business.
Hub Group, Inc. (NASDAQ:HUBG) began implementing rate increases in the third quarter, after transportation costs had pressured first-half results. Relatively stable intermodal volume trends suggest an existing customer base on which better pricing could improve margins. If increases hold without significant volume losses, revenue could become more profitable without requiring a broad freight recovery.
Hub Group, Inc. (NASDAQ:HUBG) also launched additional efficiency initiatives in the second quarter, including warehouse consolidation and improvements in driver and warehouse-worker productivity. These actions address specific weaknesses: underused ***** e spreads fixed costs across fewer orders, while low productivity raises the cost of each shipment or handling task. Better utilization could reinforce the benefit of higher rates.
Hub Group, Inc. (NASDAQ:HUBG) is also targeting order-to-cash processes, which cover the steps from taking orders through billing and collection. Improvements could reduce administrative friction and accelerate cash collection. That would support liquidity while operational changes take effect, although faster collections alone would not repair an operating loss.
#improvements #better
Hub Group, Inc. (NASDAQ:HUBG) identified higher fuel, rail, and drayage costs, excess warehouse capacity, and accounting-review and restatement expenses. The central issue is whether pricing and efficiency improvements can restore profitability on the revenue already moving through the business.
Hub Group, Inc. (NASDAQ:HUBG) began implementing rate increases in the third quarter, after transportation costs had pressured first-half results. Relatively stable intermodal volume trends suggest an existing customer base on which better pricing could improve margins. If increases hold without significant volume losses, revenue could become more profitable without requiring a broad freight recovery.
Hub Group, Inc. (NASDAQ:HUBG) also launched additional efficiency initiatives in the second quarter, including warehouse consolidation and improvements in driver and warehouse-worker productivity. These actions address specific weaknesses: underused ***** e spreads fixed costs across fewer orders, while low productivity raises the cost of each shipment or handling task. Better utilization could reinforce the benefit of higher rates.
Hub Group, Inc. (NASDAQ:HUBG) is also targeting order-to-cash processes, which cover the steps from taking orders through billing and collection. Improvements could reduce administrative friction and accelerate cash collection. That would support liquidity while operational changes take effect, although faster collections alone would not repair an operating loss.
#improvements #better
47 mins. ago
Stephen McMillan, President and Chief Executive Officer of Teradata Corporation (NYSE:TDC), executed a sale of 10,000 shares of common stock on September 15, 2026 under a Rule 10b5-1 trading plan. The details of the transaction are documented in a recent SEC Form 4 filing.
Metric
Value
Transaction value
$300,200
#executive
Metric
Value
Transaction value
$300,200
#executive
53 mins. ago
Crane Company (NYSE:CR) announced a definitive agreement on September 14 to acquire Trillium Flow Technologies' U.S. pump business for approximately $240 million. The operations primarily serve municipal water and wastewater customers and are expected to generate approximately $115 million in full-year revenue. Closing is expected in the fourth quarter, subject to regulatory approvals and customary conditions.
The acquisition would add Floway, Wemco, Roto-Jet and WSP to Process Flow Technologies. Their installed equipment base supports service, repair, retrofit and replacement demand, giving the transaction a recurring-revenue rationale.
Crane Company (NYSE:CR) disclosed a price of approximately 14.6 times estimated 2026 adjusted EBITDA. Adjusted EBITDA is a company-defined non-GAAP measure based on earnings before interest, taxes, depreciation, and amortization, with further adjustments. The announcement did not specify the target's adjustments or provide a GAAP reconciliation.
Water and wastewater systems require reliable pumping equipment throughout their operating lives. An established installed base creates opportunities to sell replacement parts, restore equipment, and upgrade performance long after the original sale.
For Crane Company (NYSE:CR), those customer relationships could make revenue less dependent on winning entirely new projects. Service capability and product familiarity may also help retain customers when equipment eventually needs replacement.
#NYSE
The acquisition would add Floway, Wemco, Roto-Jet and WSP to Process Flow Technologies. Their installed equipment base supports service, repair, retrofit and replacement demand, giving the transaction a recurring-revenue rationale.
Crane Company (NYSE:CR) disclosed a price of approximately 14.6 times estimated 2026 adjusted EBITDA. Adjusted EBITDA is a company-defined non-GAAP measure based on earnings before interest, taxes, depreciation, and amortization, with further adjustments. The announcement did not specify the target's adjustments or provide a GAAP reconciliation.
Water and wastewater systems require reliable pumping equipment throughout their operating lives. An established installed base creates opportunities to sell replacement parts, restore equipment, and upgrade performance long after the original sale.
For Crane Company (NYSE:CR), those customer relationships could make revenue less dependent on winning entirely new projects. Service capability and product familiarity may also help retain customers when equipment eventually needs replacement.
#NYSE
1 hr. ago
On September 10, 2026, Copart, Inc. (NASDAQ:CPRT) reported fourth-quarter results for the period ended July 31, 2026, and used the call to announce an all-cash acquisition of digital auto marketplace ACV Auctions. Revenue grew 2.4% to $1.2 billion, but gross profit fell 5.5% to $481.4 million and net income dropped 17.4% to $327.4 million. Diluted EPS came in at $0.35 against $0.41 a year earlier.
Wall Street spent the following days separating the deal from the quarter.
Barrington's Gary Prestopino saw enough in the transaction to move off the sidelines, upgrading Copart, Inc. (NASDAQ:CPRT) to Outperform from Market Perform with a $40 target. His argument is that combining Copart's physical network with ACV's digital marketplace, at an implied equity value of $1.9 billion or $10.50 per share in cash, creates an end-to-end remarketing platform and opens a new growth vector in dealer-to-dealer and commercial vehicle auctions.
JPMorgan's Jash Patwa had already upgraded Copart, Inc. (NASDAQ:CPRT) to Overweight from Neutral ahead of the print, raising his target to $40 from $32 on encouraging salvage industry channel checks, web scraping data showing Copart gaining share with a carrier across several states, and a collision cycle he sees turning more favorable as insurance penetration recovers.
Freedom Broker, which trimmed its target to $36 from $39 while keeping a Buy rating, called the report mixed but framed the ACV move as a strong pivot toward digital marketplace expansion.
#NASDAQ #cprt #auctions
Wall Street spent the following days separating the deal from the quarter.
Barrington's Gary Prestopino saw enough in the transaction to move off the sidelines, upgrading Copart, Inc. (NASDAQ:CPRT) to Outperform from Market Perform with a $40 target. His argument is that combining Copart's physical network with ACV's digital marketplace, at an implied equity value of $1.9 billion or $10.50 per share in cash, creates an end-to-end remarketing platform and opens a new growth vector in dealer-to-dealer and commercial vehicle auctions.
JPMorgan's Jash Patwa had already upgraded Copart, Inc. (NASDAQ:CPRT) to Overweight from Neutral ahead of the print, raising his target to $40 from $32 on encouraging salvage industry channel checks, web scraping data showing Copart gaining share with a carrier across several states, and a collision cycle he sees turning more favorable as insurance penetration recovers.
Freedom Broker, which trimmed its target to $36 from $39 while keeping a Buy rating, called the report mixed but framed the ACV move as a strong pivot toward digital marketplace expansion.
#NASDAQ #cprt #auctions
1 hr. ago
On September 2, 2026, Snowflake Inc. (NYSE:SNOW) reported second-quarter fiscal 2027 results for the period ended July 31, 2026. Revenue rose 35% to $1.55 billion against a $1.48 billion consensus, product revenue grew 37% to $1.49 billion, and adjusted earnings came in at $0.62 per share versus the $0.45 ******* ysts expected. Management raised full-year product revenue guidance to $6.07 billion from $5.84 billion. Shares surged more than 20% in extended trading, and within 48 hours eight firms had rewritten their models.
The size of the target revisions tells the story.
Argus ******* yst Joseph Bonner moved to $450 from $300, keeping a Buy rating and arguing that new AI products are driving sales, customer conversion, and retention while Snowflake Inc. (NYSE:SNOW) grows well above management's 30% north star target with expanding margins.
Goldman Sachs also went to $436 from $300, noting product revenue landed 5% above the Street and EBIT margins 270 basis points ahead, and said the stock reaction reflects a setup where estimates keep moving higher over the next 18 months.
JPMorgan lifted its target to $426 from $285 on a third straight quarter of product revenue acceleration, while Raymond James ******* yst Adam Tindle went to $425 from $275, framing Snowflake Inc. (NYSE:SNOW) as an AI-native control plane for enterprise workflows beyond ******* ytics.
#target
The size of the target revisions tells the story.
Argus ******* yst Joseph Bonner moved to $450 from $300, keeping a Buy rating and arguing that new AI products are driving sales, customer conversion, and retention while Snowflake Inc. (NYSE:SNOW) grows well above management's 30% north star target with expanding margins.
Goldman Sachs also went to $436 from $300, noting product revenue landed 5% above the Street and EBIT margins 270 basis points ahead, and said the stock reaction reflects a setup where estimates keep moving higher over the next 18 months.
JPMorgan lifted its target to $426 from $285 on a third straight quarter of product revenue acceleration, while Raymond James ******* yst Adam Tindle went to $425 from $275, framing Snowflake Inc. (NYSE:SNOW) as an AI-native control plane for enterprise workflows beyond ******* ytics.
#target
1 hr. ago
In mid-September, stablecoins received a fresh injection of legitimacy when payments specialist MoneyGram introduced a new Visa-branded debit card backed by one. The product is somewhat unimaginatively called the MoneyGram Card, underpinned by the USDC (CRYPTO: USDC) stablecoin. In turn, Circle Internet Group (NYSE: CRCL) develops and manages the coin.
I believe this is a positive development not only for USDC and the company that co-developed and manages it but also for the wider stablecoin ecosystem. Here's why.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
MoneyGram is the ideal company to offer such a card, as its bread and ***** er is remittances (i.e., cross-border payments, usually from people in economically advantaged countries to ***** ociates in less prosperous ones).
One of the great promises of cryptocurrencies is that transacting in them can be almost instantaneous and near-frictionless, anywhere in the world. So they're very suitable for remittances, as the facilitator behind them has less contact with challenges such as sharp exchange-rate moves, slow transaction settlement times, and other impediments to money transfers.
#usdc #signal #company #payments
I believe this is a positive development not only for USDC and the company that co-developed and manages it but also for the wider stablecoin ecosystem. Here's why.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
MoneyGram is the ideal company to offer such a card, as its bread and ***** er is remittances (i.e., cross-border payments, usually from people in economically advantaged countries to ***** ociates in less prosperous ones).
One of the great promises of cryptocurrencies is that transacting in them can be almost instantaneous and near-frictionless, anywhere in the world. So they're very suitable for remittances, as the facilitator behind them has less contact with challenges such as sharp exchange-rate moves, slow transaction settlement times, and other impediments to money transfers.
#usdc #signal #company #payments
2 hours ago
Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) reported a widening split between dining and entertainment in its September 14 second-quarter results. Food-and-beverage revenue increased to $211.5 million from $192.9 million, while entertainment revenue fell to $332.6 million from $364.5 million.
For the fiscal quarter ended August 4, 2026, total revenue declined 2.4% to $544.1 million. Operating income dropped to $19.4 million from $53 million. The GAAP net loss was $12.5 million, versus net income of $11.4 million a year earlier. Stronger restaurant sales are providing support, but the investment question is whether they can also bring customers back to the games.
Food-and-beverage revenue grew approximately 9.6%, giving Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) an identifiable source of momentum. A more appealing dining experience could encourage repeat visits, group occasions, and longer stays, creating additional opportunities to sell entertainment.
Management reported ongoing growth in food-and-beverage and special-events sales, alongside improving comparable-sales trends in July and the third quarter to date. That suggests the recovery effort has some traction beyond a single revenue category, although the later sales improvement was not quantified.
Management also said remodeled locations continued to outperform the system on comparable sales. That supports selective investment in existing venues, provided the additional revenue earns adequate returns on remodeling costs.
#entertainment #dave
For the fiscal quarter ended August 4, 2026, total revenue declined 2.4% to $544.1 million. Operating income dropped to $19.4 million from $53 million. The GAAP net loss was $12.5 million, versus net income of $11.4 million a year earlier. Stronger restaurant sales are providing support, but the investment question is whether they can also bring customers back to the games.
Food-and-beverage revenue grew approximately 9.6%, giving Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) an identifiable source of momentum. A more appealing dining experience could encourage repeat visits, group occasions, and longer stays, creating additional opportunities to sell entertainment.
Management reported ongoing growth in food-and-beverage and special-events sales, alongside improving comparable-sales trends in July and the third quarter to date. That suggests the recovery effort has some traction beyond a single revenue category, although the later sales improvement was not quantified.
Management also said remodeled locations continued to outperform the system on comparable sales. That supports selective investment in existing venues, provided the additional revenue earns adequate returns on remodeling costs.
#entertainment #dave
2 hours ago
The Hain Celestial Group, Inc. (NASDAQ:HAIN) announced on September 14 that it agreed to sell most international operations to AURELIUS for estimated cash consideration of $323 million. Expected net proceeds of $305 million to $310 million would repay debt and leave a business concentrated in North America.
The immediate hurdle is financing. The agreement, signed September 12, requires a credit-agreement amendment by October 12 extending the December 22, 2026 maturity by at least nine months. AURELIUS can terminate if that amendment is not secured by the deadline.
The Hain Celestial Group, Inc. (NASDAQ:HAIN) expects closing in its fiscal second quarter ending December 31, subject to lender agreement and regulatory approvals. The dollar consideration estimates also depend on exchange rates because the purchase price is denominated in sterling.
The transaction could materially reduce the debt burden. The Hain Celestial Group, Inc. (NASDAQ:HAIN) reported $558 million of total debt as of June 30. Subtracting the estimated net proceeds implies approximately $248 million to $253 million remaining, a calculation using rounded figures before subsequent borrowings, repayments, or other changes.
That reduction could lower interest expense and give management more room to stabilize the retained brands. The remaining portfolio includes Celestial Seasonings tea, The Greek Gods yogurt and Earth's Best baby and kids foods.
#december
The immediate hurdle is financing. The agreement, signed September 12, requires a credit-agreement amendment by October 12 extending the December 22, 2026 maturity by at least nine months. AURELIUS can terminate if that amendment is not secured by the deadline.
The Hain Celestial Group, Inc. (NASDAQ:HAIN) expects closing in its fiscal second quarter ending December 31, subject to lender agreement and regulatory approvals. The dollar consideration estimates also depend on exchange rates because the purchase price is denominated in sterling.
The transaction could materially reduce the debt burden. The Hain Celestial Group, Inc. (NASDAQ:HAIN) reported $558 million of total debt as of June 30. Subtracting the estimated net proceeds implies approximately $248 million to $253 million remaining, a calculation using rounded figures before subsequent borrowings, repayments, or other changes.
That reduction could lower interest expense and give management more room to stabilize the retained brands. The remaining portfolio includes Celestial Seasonings tea, The Greek Gods yogurt and Earth's Best baby and kids foods.
#december
2 hours ago
A question has bedeviled a wealthy Lake Tahoe enclave for years: Who is poisoning the towering trees that stand sentry on the North Shore?
Residents of Incline Village, Nev., hope a $147,000 reward will generate some answers.
"It's the most appalling, selfish thing that anyone could do, especially for trees that are irreplaceable," said Chris Nolet, a retired certified public accountant and consultant to the biotechnology industry who ***** embled a small group of private donors known as Friends of Burnt Cedar Beach to put up the bulk of the reward. "These trees are 100 years old."
The donors are offering $122,000 for information leading to the successful prosecution of anyone responsible. The Incline Village General Improvement District, which owns and manages the residents-only beach where the poisonings took place, has put up another $25,000 and installed additional cameras around the trees.
The move came after an investigation failed to generate actionable leads, Nolet said.
#incline #nolet #beach #anyone
Residents of Incline Village, Nev., hope a $147,000 reward will generate some answers.
"It's the most appalling, selfish thing that anyone could do, especially for trees that are irreplaceable," said Chris Nolet, a retired certified public accountant and consultant to the biotechnology industry who ***** embled a small group of private donors known as Friends of Burnt Cedar Beach to put up the bulk of the reward. "These trees are 100 years old."
The donors are offering $122,000 for information leading to the successful prosecution of anyone responsible. The Incline Village General Improvement District, which owns and manages the residents-only beach where the poisonings took place, has put up another $25,000 and installed additional cameras around the trees.
The move came after an investigation failed to generate actionable leads, Nolet said.
#incline #nolet #beach #anyone
2 hours ago
The Commodity and Futures Trading Commission on Thursday paved the way to expand prediction markets and cryptocurrency trading on certain online platforms. DraftKings led a retreat for sports betting stocks Thursday.
The CFTC's Market Participation division issued a no-action letter, saying it will not take enforcement action against providers of what the agency called "passive software."
These passive software providers include companies and developers that offer prediction market, derivatives or crypto trading services, but do not take custody of user ***** ets.
"Subject to certain specified conditions, MPD will not recommend the Commission take enforcement action against any such provider or their relevant personnel for failure to register as an introducing broker or an ***** ociated person of an introducing broker," the regulator said in its announcement. However, this only applies to the "provision and marketing of software to facilitate trading" between users and registered futures commission merchants, introducing brokers, and designated contract merchants.
The decision follows a similar no-action letter from the CFTC in March, which responded to a request from self-custody crypto wallet provider Phantom Technologies, Bloomberg reported. Phantom Technologies partnered with Kalshi to offer predictions market trading to its more than 20 million crypto wallet holders.
#action
The CFTC's Market Participation division issued a no-action letter, saying it will not take enforcement action against providers of what the agency called "passive software."
These passive software providers include companies and developers that offer prediction market, derivatives or crypto trading services, but do not take custody of user ***** ets.
"Subject to certain specified conditions, MPD will not recommend the Commission take enforcement action against any such provider or their relevant personnel for failure to register as an introducing broker or an ***** ociated person of an introducing broker," the regulator said in its announcement. However, this only applies to the "provision and marketing of software to facilitate trading" between users and registered futures commission merchants, introducing brokers, and designated contract merchants.
The decision follows a similar no-action letter from the CFTC in March, which responded to a request from self-custody crypto wallet provider Phantom Technologies, Bloomberg reported. Phantom Technologies partnered with Kalshi to offer predictions market trading to its more than 20 million crypto wallet holders.
#action
2 hours ago
Updated at 4:30 p.m. ET.
After Nike's unexpected announcement Wednesday night that Alexandre Arnault, the son of luxury ***** an Bernard Arnault, would join its board, reactions online have been mixed.
More from WWD
Public School Set to Release Its 'In-Security' Nike Air Max Goadome Monk Strap Boot - An Update to a Security Guard Favorite
Nike's Newest Super Shoe Is Lighter and More Energetic Thanks in Part to Radio Waves
#arnault #wednesday #bernard #release
After Nike's unexpected announcement Wednesday night that Alexandre Arnault, the son of luxury ***** an Bernard Arnault, would join its board, reactions online have been mixed.
More from WWD
Public School Set to Release Its 'In-Security' Nike Air Max Goadome Monk Strap Boot - An Update to a Security Guard Favorite
Nike's Newest Super Shoe Is Lighter and More Energetic Thanks in Part to Radio Waves
#arnault #wednesday #bernard #release
2 hours ago
Exodus Movement, Inc. (NYSEAMERICAN:EXOD) reported on September 11 that August payment-processing gross transaction volume reached $356.8 million, up from $338.0 million in July. Monthly active cards declined to 757,900 from 783,600.
Separately, Web3 exchange-provider processed volume increased to $376.8 million from $314.8 million, while reported monthly active users remained at 1.4 million. The figures show stronger transaction activity alongside fewer active cards and a stable reported user count.
The question is whether that activity produces enough revenue to improve profitability while Exodus Movement, Inc. (NYSEAMERICAN:EXOD) integrates Monavate and reduces costs.
Payment growth persists after adjusting for currency translation. Exodus Movement, Inc. (NYSEAMERICAN:EXOD) converted sterling payment volumes into dollars using average rates of $1.35 per pound for August and $1.34 for July. Reversing those conversions implies approximately 4.8% growth in underlying sterling volume, compared with 5.6% in reported dollars. Both calculations use rounded disclosed figures.
Web3 exchange-provider volume increased approximately 19.7%. XO Swap partners contributed 23% of volume in both months. The unchanged reported share suggests both the partner channel and the remaining business contributed to growth.
#reported #exodus #nyseamerican
Separately, Web3 exchange-provider processed volume increased to $376.8 million from $314.8 million, while reported monthly active users remained at 1.4 million. The figures show stronger transaction activity alongside fewer active cards and a stable reported user count.
The question is whether that activity produces enough revenue to improve profitability while Exodus Movement, Inc. (NYSEAMERICAN:EXOD) integrates Monavate and reduces costs.
Payment growth persists after adjusting for currency translation. Exodus Movement, Inc. (NYSEAMERICAN:EXOD) converted sterling payment volumes into dollars using average rates of $1.35 per pound for August and $1.34 for July. Reversing those conversions implies approximately 4.8% growth in underlying sterling volume, compared with 5.6% in reported dollars. Both calculations use rounded disclosed figures.
Web3 exchange-provider volume increased approximately 19.7%. XO Swap partners contributed 23% of volume in both months. The unchanged reported share suggests both the partner channel and the remaining business contributed to growth.
#reported #exodus #nyseamerican
3 hours ago
Logistic Properties of the Americas (NYSEAMERICAN:LPA) moved closer to selling Parque Logístico Lima Sur after Peru's antitrust authority, INDECOPI, approved the transaction on September 11. FIBRA Prime would acquire the entire 1.3-million-square-foot logistics park for $145 million. Customary administrative closing matters remain outstanding.
Management expects approximately $85 million of net proceeds after debt repayment and before taxes, with Mexico the intended destination. Approval advances the financing of that expansion, while the investment case rests on replacing an established income stream.
Lima Sur generated $10.3 million of cash net operating income, or cash NOI, during the 12 months ended March 31, 2026. Cash NOI is a company-defined non-IFRS measure of property income after operating expenses, adjusted to remove straight-line rental accounting. It excludes corporate overhead, financing costs, income taxes, and other non-property items.
Logistic Properties of the Americas (NYSEAMERICAN:LPA) has demonstrated an ability to develop, lease and operate logistics ***** ets. Second-quarter revenue increased 26.1% to $14.7 million, while stabilized portfolio occupancy reached 100% as of June 30.
Mexico already contributes revenue. Two properties acquired in Puebla in August 2025 generated approximately $0.5 million during the second quarter. That provides an operating foothold for deploying proceeds.
#cash #logistic #nyseamerican #Mexico
Management expects approximately $85 million of net proceeds after debt repayment and before taxes, with Mexico the intended destination. Approval advances the financing of that expansion, while the investment case rests on replacing an established income stream.
Lima Sur generated $10.3 million of cash net operating income, or cash NOI, during the 12 months ended March 31, 2026. Cash NOI is a company-defined non-IFRS measure of property income after operating expenses, adjusted to remove straight-line rental accounting. It excludes corporate overhead, financing costs, income taxes, and other non-property items.
Logistic Properties of the Americas (NYSEAMERICAN:LPA) has demonstrated an ability to develop, lease and operate logistics ***** ets. Second-quarter revenue increased 26.1% to $14.7 million, while stabilized portfolio occupancy reached 100% as of June 30.
Mexico already contributes revenue. Two properties acquired in Puebla in August 2025 generated approximately $0.5 million during the second quarter. That provides an operating foothold for deploying proceeds.
#cash #logistic #nyseamerican #Mexico
4 hours ago
The intelligence report, circulated across the US military this spring in the midst of the war with Iran, immediately set off alarm bells: A Chinese ship in the Middle East was transporting components of a nuclear weapons program.
The US military swung into action with plans to intercept the vessel, according to four sources familiar with the episode. According to two of the sources, armed members of the US military were preparing to board the ship. Military planes were in the air, one of those sources and another source familiar with the incident said.
It was only just before the planned operation that officials dug deeper into the report put together by a special operations command ****** yst and found it had been generated with the help of artificial intelligence (AI) — and that a chatbot the ****** yst had used inaccurately identified the material the ship was carrying. CNN was not able to learn what the misidentified cargo was.
The report, according to one of the sources, was “entirely false.” But it also “almost started a war,” the source said. Any US operation against a Chinese vessel could have risked spiraling into an armed conflict between the two nations.
Across the US military and the intelligence community, officials are pushing to weave AI into nearly every facet of their work, from ****** yzing the huge volumes of raw intelligence the US collects and selecting targets for strikes, to more mundane applications like managing budgeting, logistics and supply chains.
#intelligence #ship #familiar
The US military swung into action with plans to intercept the vessel, according to four sources familiar with the episode. According to two of the sources, armed members of the US military were preparing to board the ship. Military planes were in the air, one of those sources and another source familiar with the incident said.
It was only just before the planned operation that officials dug deeper into the report put together by a special operations command ****** yst and found it had been generated with the help of artificial intelligence (AI) — and that a chatbot the ****** yst had used inaccurately identified the material the ship was carrying. CNN was not able to learn what the misidentified cargo was.
The report, according to one of the sources, was “entirely false.” But it also “almost started a war,” the source said. Any US operation against a Chinese vessel could have risked spiraling into an armed conflict between the two nations.
Across the US military and the intelligence community, officials are pushing to weave AI into nearly every facet of their work, from ****** yzing the huge volumes of raw intelligence the US collects and selecting targets for strikes, to more mundane applications like managing budgeting, logistics and supply chains.
#intelligence #ship #familiar
9 hours ago
President attacks insiders who revealed details of Iran briefing with Tulsi Gabbard to Wall Street Journal last month, threatening repercussions
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President Donald Trump has lashed out at leakers in his own administration after a series of behind-the-scenes reports on the Iran war.
As the conflict Trump claimed would be over in six weeks drags into its seventh month, insiders have repeatedly claimed the president was warned against taking action by his own advisors.
#Iran #claimed #street
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President Donald Trump has lashed out at leakers in his own administration after a series of behind-the-scenes reports on the Iran war.
As the conflict Trump claimed would be over in six weeks drags into its seventh month, insiders have repeatedly claimed the president was warned against taking action by his own advisors.
#Iran #claimed #street
10 hours ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Visa and Mastercard ATM cash withdrawals spanning roughly 19 years are part of a class-action lawsuit settlement totaling $167.5 million.
The case, known as Burke v. Visa Inc., involves independent ATMs often found in convenience stores, gas stations, grocery stores, hotels, and bars — non-bank locations that often levy surcharges on cash withdrawals.
Here's who is eligible for a cash payment as part of the settlement.
Read more: Just received a settlement? 5 smart ways to use the money.
#Visa #part #stores #mastercard
Visa and Mastercard ATM cash withdrawals spanning roughly 19 years are part of a class-action lawsuit settlement totaling $167.5 million.
The case, known as Burke v. Visa Inc., involves independent ATMs often found in convenience stores, gas stations, grocery stores, hotels, and bars — non-bank locations that often levy surcharges on cash withdrawals.
Here's who is eligible for a cash payment as part of the settlement.
Read more: Just received a settlement? 5 smart ways to use the money.
#Visa #part #stores #mastercard
11 hours ago
On Wednesday, OpenAI (OPAI.PVT) revealed six new examples of its AI models displaying "unexpected or concerning model behavior" during testing and evaluation.
The company made the announcement alongside a new framework for "tracking, reporting, and disclosing" instances where AI models take actions they otherwise aren't told to or shouldn't.
It follows a number of reports of AI models from companies hacking into third-party networks and services, including an unreleased OpenAI model breaking into the network of AI model and testing site Hugging Face.
Earlier this week, Anthropic (ANTH.PVT) CEO Dario Amodei penned a lengthy essay calling for a slowdown in the pace of the development of frontier AI models, after Anthropic researcher Jacob ******* on posted on X that he was resigning from the company because it, and his former employer OpenAI, is "racing straight to self-improving superintelligence and gambling with our lives."
Anthropic alignment science lead Evan Hubinger followed up on ******* on's comments with his own post on X saying that he believes there is a greater-than-10% chance that the technology could "kill all humans."
#face
The company made the announcement alongside a new framework for "tracking, reporting, and disclosing" instances where AI models take actions they otherwise aren't told to or shouldn't.
It follows a number of reports of AI models from companies hacking into third-party networks and services, including an unreleased OpenAI model breaking into the network of AI model and testing site Hugging Face.
Earlier this week, Anthropic (ANTH.PVT) CEO Dario Amodei penned a lengthy essay calling for a slowdown in the pace of the development of frontier AI models, after Anthropic researcher Jacob ******* on posted on X that he was resigning from the company because it, and his former employer OpenAI, is "racing straight to self-improving superintelligence and gambling with our lives."
Anthropic alignment science lead Evan Hubinger followed up on ******* on's comments with his own post on X saying that he believes there is a greater-than-10% chance that the technology could "kill all humans."
#face
18 hours ago
At the Cascale annual meeting in Athens on Wednesday, Asif Khan, executive director of supply chain and sustainability at Mondetta, acknowledged the central conflict undercutting fashion's green ambitions: while sustainability demands a long-term sourcing strategy, brands rely entirely on the ability to pivot at a moment's notice.
It's a commercial reality that constrains companies such as his, Khan admitted. Navigating a volatile environment shaped by fast-changing consumer demands, evolving trends and geopolitical instability, brands are unable to offer the multi-year purchasing guarantees that factories need to justify significant capital investments, he said.
More from WWD
Cascale Wants to Put the 'Collective' Back in Collective Action
As Fashion's Emissions Rise for Second Straight Year, Aii Knows What Needs to Change
#Sustainability #asif
It's a commercial reality that constrains companies such as his, Khan admitted. Navigating a volatile environment shaped by fast-changing consumer demands, evolving trends and geopolitical instability, brands are unable to offer the multi-year purchasing guarantees that factories need to justify significant capital investments, he said.
More from WWD
Cascale Wants to Put the 'Collective' Back in Collective Action
As Fashion's Emissions Rise for Second Straight Year, Aii Knows What Needs to Change
#Sustainability #asif
18 hours ago
Seagate Technology Holdings plc (NASDAQ:STX) announced on September 9 that its subsidiary, Seagate HDD Cayman, completed the redemption and exchange of its remaining 3.50% exchangeable senior notes due 2028 on September 8. Approximately $150.7 million of principal was retired through a settlement involving approximately $150.97 million in cash and 1,647,862 ordinary shares.
For notes submitted for exchange, principal was paid in cash, and the exchange obligation above principal was settled in shares, with cash for fractional shares where applicable. The share delivery therefore satisfied an existing contractual obligation.
Seagate Technology Holdings plc (NASDAQ:STX) has removed a 2028 maturity and the remaining settlement uncertainty attached to this instrument. Based on the approximately $150.7 million principal balance and 3.50% coupon, the transaction eliminates roughly $5.3 million of annual stated interest. That is a calculated annualized saving before taxes and any interest income lost on the cash used.
Recent cash generation supports the ability to absorb the payment. As of July 3, 2026, Seagate Technology Holdings plc (NASDAQ:STX) reported $1.704 billion in cash and cash equivalents. Fiscal fourth-quarter free cash flow was $1.118 billion. This company-defined non-GAAP measure is operating cash flow less acquisitions of property, equipment, and leasehold improvements.
The settlement cash payment equals approximately 8.9% of that reported cash balance. Although the July figure predates settlement, it provides a useful measure of the transaction's scale.
#technology #million #exchange
For notes submitted for exchange, principal was paid in cash, and the exchange obligation above principal was settled in shares, with cash for fractional shares where applicable. The share delivery therefore satisfied an existing contractual obligation.
Seagate Technology Holdings plc (NASDAQ:STX) has removed a 2028 maturity and the remaining settlement uncertainty attached to this instrument. Based on the approximately $150.7 million principal balance and 3.50% coupon, the transaction eliminates roughly $5.3 million of annual stated interest. That is a calculated annualized saving before taxes and any interest income lost on the cash used.
Recent cash generation supports the ability to absorb the payment. As of July 3, 2026, Seagate Technology Holdings plc (NASDAQ:STX) reported $1.704 billion in cash and cash equivalents. Fiscal fourth-quarter free cash flow was $1.118 billion. This company-defined non-GAAP measure is operating cash flow less acquisitions of property, equipment, and leasehold improvements.
The settlement cash payment equals approximately 8.9% of that reported cash balance. Although the July figure predates settlement, it provides a useful measure of the transaction's scale.
#technology #million #exchange
18 hours ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
The Federal Reserve raised interest rates on Wednesday, marking its first hike in more than three years, in a move that will likely make borrowing more expensive while giving savers a modest boost.
Fed Chairman Kevin Warsh and the Federal Open Market Committee announced a widely expected quarter-point rate increase and indicated another to come.
The stock market's reaction to the Fed's announcement is likely to draw the most headlines, and John Shugar, a partner at Goldman Sachs, leans toward an optimistic scenario.
"You basically have a market where all of the heavy lifting has actually been done on the earnings side," Shugar said in an **** ysis. He points to "terrific opportunities" in various AI consumer sectors, though "over the next few weeks, we may have a lot more speed **** ps."
#shugar #reserve #kevin
The Federal Reserve raised interest rates on Wednesday, marking its first hike in more than three years, in a move that will likely make borrowing more expensive while giving savers a modest boost.
Fed Chairman Kevin Warsh and the Federal Open Market Committee announced a widely expected quarter-point rate increase and indicated another to come.
The stock market's reaction to the Fed's announcement is likely to draw the most headlines, and John Shugar, a partner at Goldman Sachs, leans toward an optimistic scenario.
"You basically have a market where all of the heavy lifting has actually been done on the earnings side," Shugar said in an **** ysis. He points to "terrific opportunities" in various AI consumer sectors, though "over the next few weeks, we may have a lot more speed **** ps."
#shugar #reserve #kevin
19 hours ago
The U.S. Attorney's Office for the Southern District of New York filed a civil forfeiture complaint on Sep. 14 seeking approximately $61 million in cryptocurrency linked to black-market sales of Iranian crude oil.
According to the DOJ, the funds were allegedly meant to support the Iranian government and its military, including the Islamic Revolutionary Guard Corps, or IRGC. The U.S. government has designated the IRGC as a terrorist organization.
A civil forfeiture complaint is a legal action in which the government seeks to seize money or property it believes was involved in or resulted from criminal activity. It is not a criminal charge, the allegations are not proven until a court rules in the government's favor.
Related: Cathie Wood dumps $65 million in crypto ahead of CLARITY vote
The complaint alleges that two Chinese companies, Blessed Trust and Hexa Whale, used trading accounts at Binance to launder proceeds from sanctioned Iranian oil sales. Binance is the world's largest cryptocurrency exchange by daily trading volume.
#government
According to the DOJ, the funds were allegedly meant to support the Iranian government and its military, including the Islamic Revolutionary Guard Corps, or IRGC. The U.S. government has designated the IRGC as a terrorist organization.
A civil forfeiture complaint is a legal action in which the government seeks to seize money or property it believes was involved in or resulted from criminal activity. It is not a criminal charge, the allegations are not proven until a court rules in the government's favor.
Related: Cathie Wood dumps $65 million in crypto ahead of CLARITY vote
The complaint alleges that two Chinese companies, Blessed Trust and Hexa Whale, used trading accounts at Binance to launder proceeds from sanctioned Iranian oil sales. Binance is the world's largest cryptocurrency exchange by daily trading volume.
#government
19 hours ago
Hawaiian Electric Industries, Inc. (NYSE:HE) has a potential valuation benchmark for its retained American Savings Bank investment. IPO terms reported September 9 imply approximately $1 billion of equity value at the midpoint. The proposed offering comprises approximately 7.5 million shares at $15 to $17 each.
Hawaiian Electric Industries, Inc. (NYSE:HE) sold 90.1% of the bank in December 2024 and retained 9.9%. Mechanically, a 9.9% holding at a $1 billion valuation would be worth approximately $99 million, ****** uming that ownership percentage remains unchanged.
The base offering would total approximately $120 million at the $16 midpoint before fees. That amount represents shares being sold across the offering, not proceeds automatically attributable to the retained investment.
A public listing could make the minority ****** et easier to value. For Hawaiian Electric Industries, Inc. (NYSE:HE), an observable trading price would give investors a clearer reference for estimating the holding's contribution to overall equity value.
The proposed transaction is entirely secondary, according to the detailed offering report. Existing shareholders are selling shares, so the offering itself does not dilute ownership through newly issued stock. Any change in the retained stake would depend on shareholder sales or other capital changes.
#value #million
Hawaiian Electric Industries, Inc. (NYSE:HE) sold 90.1% of the bank in December 2024 and retained 9.9%. Mechanically, a 9.9% holding at a $1 billion valuation would be worth approximately $99 million, ****** uming that ownership percentage remains unchanged.
The base offering would total approximately $120 million at the $16 midpoint before fees. That amount represents shares being sold across the offering, not proceeds automatically attributable to the retained investment.
A public listing could make the minority ****** et easier to value. For Hawaiian Electric Industries, Inc. (NYSE:HE), an observable trading price would give investors a clearer reference for estimating the holding's contribution to overall equity value.
The proposed transaction is entirely secondary, according to the detailed offering report. Existing shareholders are selling shares, so the offering itself does not dilute ownership through newly issued stock. Any change in the retained stake would depend on shareholder sales or other capital changes.
#value #million
20 hours ago
US stocks slipped after the Federal Reserve raised interest rates by 25 basis points to a target range of 3.75%-4% and hinted at another rate hike in 2026.
The Dow Jones Industrial Average (^DJI) fell 1.2%, while the S&P 500 (^GSPC) dropped 0.4%. The Nasdaq Composite (^IXIC) was little changed.
Long-dated bond yields rose, with the 10-year yield (^TNX) topping 5% once again.
The Fed's decision to hike interest rates for the first time in three years was a unanimous decision. The Fed's Summary of Economic Projections showed that officials see one more rate hike this year.
"Today's policy action will support a timelier return to the Committee's 2 percent goal," the FOMC policy statement said, which Warsh underscored in his press conference.
#interest #federal #reserve
The Dow Jones Industrial Average (^DJI) fell 1.2%, while the S&P 500 (^GSPC) dropped 0.4%. The Nasdaq Composite (^IXIC) was little changed.
Long-dated bond yields rose, with the 10-year yield (^TNX) topping 5% once again.
The Fed's decision to hike interest rates for the first time in three years was a unanimous decision. The Fed's Summary of Economic Projections showed that officials see one more rate hike this year.
"Today's policy action will support a timelier return to the Committee's 2 percent goal," the FOMC policy statement said, which Warsh underscored in his press conference.
#interest #federal #reserve
20 hours ago
MercadoLibre, Inc. (NASDAQ:MELI) priced $1 billion of senior unsecured notes on September 9, 2026, with settlement scheduled for September 14 and maturity on September 14, 2036. As of September 10, the transaction had not settled.
The notes carry a 5.85% coupon, with proceeds intended for general corporate purposes. Once settled, they would require $58.5 million in annual coupon payments on the full principal outstanding, alongside repayment of $1 billion at maturity.
Management retains discretion over deployment. Logistics, payments, credit and commerce represent potential uses within the business, rather than disclosed allocations of this particular offering.
Ten-year funding can better match investments whose benefits emerge over several years. Logistics facilities need time to attract shipment volume, while financial-services products require investment in technology, customer acquisition and risk management before reaching scale.
For MercadoLibre, Inc. (NASDAQ:MELI), that longer horizon could reduce dependence on repeated short-term refinancing. A fixed coupon also makes contractual dollar interest payments more predictable if market borrowing rates rise.
#payments
The notes carry a 5.85% coupon, with proceeds intended for general corporate purposes. Once settled, they would require $58.5 million in annual coupon payments on the full principal outstanding, alongside repayment of $1 billion at maturity.
Management retains discretion over deployment. Logistics, payments, credit and commerce represent potential uses within the business, rather than disclosed allocations of this particular offering.
Ten-year funding can better match investments whose benefits emerge over several years. Logistics facilities need time to attract shipment volume, while financial-services products require investment in technology, customer acquisition and risk management before reaching scale.
For MercadoLibre, Inc. (NASDAQ:MELI), that longer horizon could reduce dependence on repeated short-term refinancing. A fixed coupon also makes contractual dollar interest payments more predictable if market borrowing rates rise.
#payments
21 hours ago
Circle Internet Group, Inc. (NYSE:CRCL), issuer of the dollar-backed USDC stablecoin, announced on September 8 an agreement to acquire Singapore-based Tazapay, which serves payment providers and financial institutions.
Circle Internet Group, Inc. (NYSE:CRCL) agreed to pay approximately $400 million in Class A common stock, subject to adjustments for debt, cash, and transaction expenses. Separately, the agreement provides for $25 million of post-closing employee restricted stock unit awards.
As of July 31, 2026, Tazapay had more than $25 billion of annualized payment volume, over 60 banking and fintech partners, and payout capabilities across more than 100 markets. Approximately 60% of transaction volume involves stablecoins; USDC's share was not specified. Payment volume represents funds processed, not revenue.
Closing is expected in 2027, subject to customary conditions and regulatory approvals, including approval from the Monetary Authority of Singapore.
Tazapay would strengthen the connections between digital dollars and local bank payments. Within the Circle Payments Network, originating institutions can convert funds into stablecoins for settlement, while receiving institutions convert them into local currency and pay recipients. Merchants can benefit without requiring every customer or supplier to hold tokens.
#tazapay
Circle Internet Group, Inc. (NYSE:CRCL) agreed to pay approximately $400 million in Class A common stock, subject to adjustments for debt, cash, and transaction expenses. Separately, the agreement provides for $25 million of post-closing employee restricted stock unit awards.
As of July 31, 2026, Tazapay had more than $25 billion of annualized payment volume, over 60 banking and fintech partners, and payout capabilities across more than 100 markets. Approximately 60% of transaction volume involves stablecoins; USDC's share was not specified. Payment volume represents funds processed, not revenue.
Closing is expected in 2027, subject to customary conditions and regulatory approvals, including approval from the Monetary Authority of Singapore.
Tazapay would strengthen the connections between digital dollars and local bank payments. Within the Circle Payments Network, originating institutions can convert funds into stablecoins for settlement, while receiving institutions convert them into local currency and pay recipients. Merchants can benefit without requiring every customer or supplier to hold tokens.
#tazapay
22 hours ago
The Federal Reserve raised its benchmark interest rate by a quarter percentage point on Wednesday, the first increase since July 2023, with Fed Chair Kevin Warsh saying inflation has been "too high ... for too long."
The decision, reached by a unanimous 12-0 vote of the Federal Open Market Committee, brings the federal funds rate to a new target range of 3.75%–4%. The Fed's post-meeting statement pointed to persistent price pressures and a durable economy, declaring: "Inflation remains elevated. Today's policy action will support a timelier return to the Committee's 2 percent goal. The Committee will deliver price stability."
At a news conference following the decision, Warsh said the Fed needed to be confident "that underlying inflation is moving to our objective clearly and at sufficient speed," adding that the FOMC had determined "this standard has not been satisfied." He pointed to three converging factors — a robust labor market, inflation still running above target, and ongoing conflict in the Middle East — as driving the committee's unanimous vote.
The Dow Jones Industrial Average shed more than 400 points in afternoon trading following the Fed's move. The S&P 500 and the tech-heavy Nasdaq Composite also slumped.
Updated economic projections released Wednesday showed FOMC participants nudged their inflation forecasts higher. The median projection for headline PCE inflation this year rose to 3.7% and core PCE to 3.4%, each up 0.1 percentage point from the June forecast, the Fed said. Officials do not expect inflation to return to the 2% target until 2029. The median unemployment rate projection for 2026 fell to 4.1%, down from 4.3% in June, while the GDP growth outlook rose to 2.3% from 2.2%.
#federal #rate #committee
The decision, reached by a unanimous 12-0 vote of the Federal Open Market Committee, brings the federal funds rate to a new target range of 3.75%–4%. The Fed's post-meeting statement pointed to persistent price pressures and a durable economy, declaring: "Inflation remains elevated. Today's policy action will support a timelier return to the Committee's 2 percent goal. The Committee will deliver price stability."
At a news conference following the decision, Warsh said the Fed needed to be confident "that underlying inflation is moving to our objective clearly and at sufficient speed," adding that the FOMC had determined "this standard has not been satisfied." He pointed to three converging factors — a robust labor market, inflation still running above target, and ongoing conflict in the Middle East — as driving the committee's unanimous vote.
The Dow Jones Industrial Average shed more than 400 points in afternoon trading following the Fed's move. The S&P 500 and the tech-heavy Nasdaq Composite also slumped.
Updated economic projections released Wednesday showed FOMC participants nudged their inflation forecasts higher. The median projection for headline PCE inflation this year rose to 3.7% and core PCE to 3.4%, each up 0.1 percentage point from the June forecast, the Fed said. Officials do not expect inflation to return to the 2% target until 2029. The median unemployment rate projection for 2026 fell to 4.1%, down from 4.3% in June, while the GDP growth outlook rose to 2.3% from 2.2%.
#federal #rate #committee
22 hours ago
Apple (NASDAQ:AAPL) is reportedly considering a big move that could reshape the company. The Information reported on Wednesday that the iPhone maker was considering developing its own artificial intelligence server, which would be Apple's first activity in the enterprise server market since 2011.
The proposal would combine Apple's custom silicon with networking technology supplied by Nvidia (NASDAQ:NVDA) to develop AI servers that could be offered with either two or four M8 Ultra chips, which are Apple's top-performing processors, and geared specifically for AI inference.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Such a move, the first major action under new CEO John Ternus, would signal that Apple is ready to invest in AI architecture to use its custom-made chips in products beyond its consumer devices, which would be a significant shift in company strategy.
Image source: Getty Images.
#flashing
The proposal would combine Apple's custom silicon with networking technology supplied by Nvidia (NASDAQ:NVDA) to develop AI servers that could be offered with either two or four M8 Ultra chips, which are Apple's top-performing processors, and geared specifically for AI inference.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Such a move, the first major action under new CEO John Ternus, would signal that Apple is ready to invest in AI architecture to use its custom-made chips in products beyond its consumer devices, which would be a significant shift in company strategy.
Image source: Getty Images.
#flashing
