Category: Hot Topics

Shopify Announces Major Acquisition of 6 River Systems

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Shopify will acquire 6 River Systems for $450 million…

Shopify announced late Monday that it agreed to purchase 6 River Systems in a deal worth $450 million. The deal consists of about 60% in cash and 40% in Shopify Class A shares.

6 River Systems is a leader in warehouse fulfillment solutions. It’s best known for its collaborative mobile robots dubbed “Chuck,” which can assist in warehouse operations.

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Stripe Moves into the Lending Business

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Stripe creates Stripe Capital to start offering loans…

One of the most valuable fintech startups in the world, Stripe, is moving into a new area of business. Last valued at $22.5 billion, the company announced on Thursday that it’s launching a new lending service called Stripe Capital.

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Slack Stock Takes a Post-Earnings Dive

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Slack’s Q2 earnings were less than impressive…

Shares of Slack Technologies dropped about 15% on Wednesday after the company’s Q2 earnings report failed to wow investors.

Despite having a solid quarter overall, weak guidance overshadowed the company’s performance. And some investors are losing confidence in the communications company.

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YouTube to Pay Hefty Fine for Alleged Child Privacy Law Violation

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Google and YouTube will pay a $170 million fine to settle allegations…

YouTube and its parent company Google will pay a record $170 million fine to settle allegations made by the Federal Trade Commission and the New York Attorney General.

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Costco Closes Shanghai Store Early Due to Massive Customer Turnout

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Costco’s store opening in China caused traffic jams and safety concerns.

The ongoing trade war between the U.S. and China has gotten a lot of media attention in recent months. Many analysts have speculated whether the trade war will sour Chinese attitudes toward American businesses. 

This certainly didn’t seem to be the case when Costco opened its first mainland China store in Shanghai. Costco opened its newest store on Tuesday, and the reception was far beyond anything the company could have anticipated. 

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Guggenheim Upgrades Lyft to ‘Buy’

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Lyft may reach profitability sooner than expected.

Lyft’s price increases may help the company become profitable sooner than many anticipated, according to Guggenheim.

As a result, the investment firm has upgraded Lyft to ‘buy’ with a price target of $60. After closing at $49 on Friday, Lyft stock jumped by about 4% on Monday. The price target is around 20% higher than Lyft’s current share price.

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Johnson & Johnson Stock Rises Despite Opioid Case Verdict

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J&J stock jumps despite an unfavorable court ruling in a landmark opioid case…

On Monday, an Oklahoma judge ruled against Johnson & Johnson (J&J) in a landmark opioid case. According to the ruling, J&J is ordered to pay a $572 million fine for its role in the Oklahoma opioid epidemic. The hefty fine will be used to fund one year of costs under Oklahoma’s new plan to combat the current opioid crisis.

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Walmart Sues Tesla Over Solar Panel Fires

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Walmart claims Tesla solar panels caused multiple fires at its stores…

Tesla, Elon Musk’s vehicle and renewable energy company, is now the subject of a lawsuit as Walmart alleges Tesla’s solar panels are responsible for fires at several Walmart locations across the country.

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Kohl’s Q2 Earnings Report Is a Mixed Bag

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Kohl’s beats profit expectations but misses on sales…

Kohl’s released its second-quarter earnings report early on Tuesday. The results caused the stock to spike early before falling into the red shortly after.

Kohl’s reported adjusted earnings per share of $1.55 against an estimated $1.53. However, the company failed to meet sales expectations, reporting $4.17 billion in net sales versus an expected $4.2 billion.

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