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Nike CEO Elliott Hill told employees in a memo that the company is restructuring its operating model in a way that will reduce the number of roles at the company. The announcement coincided with weak first-quarter results, and Nike shares fell to new lows in Friday trading.
Walmart is expanding three app-linked features — Shop to Light, Pick to Light and Stock to Light — that flash a store's digital shelf labels to help customers locate products and help associates fill online orders and restock shelves. Executive Greg Cathey said the tools, which follow a pilot program, will be live in all stores by the holiday season.
Michael Burry, the investor known for foreseeing the 2008 housing market collapse, has said he expects an AI-driven bubble in stocks to burst 'sooner rather than later.' He anticipates a market downturn tied to AI-related equities as early as next year.
Eric Gullichsen, who served on Nvidia's Technical Advisory Board from 1993 to 1996, says he was granted 25,000 stock options but only 15,625 vested before he left, due to a discrepancy over whether his options were meant to vest quarterly or annually. He argues that after 30 years of stock splits, the missing 9,375 options would now be worth roughly $1 billion, and he is disputing Nvidia's account of the vesting terms.
Nvidia announced a new $150 billion share repurchase authorization on Monday, adding to the $80 billion buyback plan it revealed in May alongside a dividend increase to 25 cents per share from 1 cent. The move comes as Nvidia's forward price-to-earnings ratio has fallen to 14.5, well below its five-year average of 62.9, even as analysts project net income near $385 billion in fiscal 2028.
Eric Gullichsen, a former Nvidia Technical Advisory Board member, says a 1993 stock option grant he re-examined in 2024 shows a one-year vesting schedule rather than the four years he was told, meaning 9,375 additional shares should have vested. After accounting for Nvidia's stock splits, he calculates this discrepancy would now be worth roughly $1 billion. He says he and his lawyer concluded the statute of limitations likely barred any legal claim.
Nvidia approved a new $150 billion share repurchase program on Monday, raising its total buyback authorization to $235 billion through fiscal 2028. The company posted $96.2 billion in quarterly revenue, up 106% year-over-year, and returned about $26 billion to shareholders in the second quarter of fiscal 2027 through buybacks and dividends.
Nvidia's board approved an additional $150 billion in share repurchases, bringing its total remaining buyback authorization to $235 billion, the company said Monday. Nvidia called it the largest buyback increase in its history and said it expects to complete the program by fiscal 2028. Shares rose nearly 3% on the news, extending a roughly 24% year-to-date gain.
Nvidia announced Monday it has authorized an additional $150 billion for share repurchases, bringing its total buyback authorization to $235 billion. The company called it the largest single increase to a share repurchase program in history and said it plans to complete the remaining buybacks through fiscal year 2028.
SpaceX's Starship rocket achieved orbital insertion during its 14th full-scale test flight from South Texas, with the company confirming the spacecraft reached orbit at over 171 miles altitude and 16,000 mph. Despite the milestone, the company's stock reportedly dipped about one percentage point rather than rallying after markets opened.
Raspberry Pi Holdings reported revenue of $256.9 million for the six months ending June 30, a 90% increase, with adjusted EBITDA more than doubling to $40.3 million and pre-tax profit up 216% to $19.6 million. Unit shipments rose 17% to 4.2 million and the order backlog doubled to 2.6 million units, driving the company's stock up more than 30% over the past week.
Rising asset and stock values combined with inflation have pushed the wealth threshold for America's top 10% higher, according to new data cited in the report. The analysis suggests that while more Americans are becoming millionaires, gains at the very top of the wealth ladder are outpacing those in the middle.