Elon Musk’s status as the world’s wealthiest person is in no danger of changing. But since mid-December, the tech titan’s net worth has declined by more than $100 billion, or approximately 25%, as a sell-off in shares of Tesla, his electric car maker, has accelerated in recent weeks. On Tuesday, the stock closed down another...

Home Depot on Tuesday topped Wall Street’s quarterly sales expectations, even as elevated interest rates and housing prices dampened consumer demand for large remodels and pricier projects. For the full year ahead, the company said it expects total sales to grow by 2.8% and comparable sales, which take out the impact of one-time factors like store openings and calendar differences,...

Nvidia is scheduled to report fourth-quarter financial results on Wednesday after the bell. It’s expected to put the finishing touches on one of the most remarkable years from a large company ever. Analysts polled by FactSet expect $38 billion in sales for the quarter ended in January, which would be a 72% increase on an annual...

McDonald’s is leaning into its reputation as a breakfast value offering, vowing to reject a surcharge on meals with eggs while announcing a special one-day discount on Egg McMuffins. The fast-food giant said in a release that to mark the 50th anniversary of its breakfast-menu cornerstone, customers on Sunday would be able to purchase an...

Denny’s is the latest nationwide restaurant chain to announce surcharges for meals that include eggs in response to a nationwide shortage that has sent U.S. prices skyward. In a statement, the breakfast giant said that individual markets and restaurants would be responsible for deciding the surcharge price. It declined to quote any pricing examples, describing...

Fabrics outlet Joann will shutter all of its approximately 800 locations after failing to find a buyer who would keep its stores open. In a statement, the company said it would commence nationwide going-out-of-business sales as a stipulation of the group that won its assets at auction. ‘JOANN leadership, our Board, advisors and legal partners...

Direct-to-consumer footwear brand Rothy’s just recorded its best year on record after the company appointed retail veteran Jenny Ming, one of the co-founders of Old Navy, as its CEO.  Ming took the helm of the flats maker from co-founder Stephen Hawthornthwaite in January 2024. Under her direction, the company grew sales 17% to $211 million last...

Starbucks will lay off 1,100 corporate employees and will not fill several hundred other open positions, the coffee chain’s CEO Brian Niccol said Monday. The cuts will not affect workers at the company’s cafes. In a message to corporate employees, Niccol said Starbucks is “simplifying our structure, removing layers and duplication and creating smaller, more nimble teams.”...

The Securities and Exchange Commission is dropping its investigation into Robinhood’s crypto arm, the company revealed Monday. Robinhood said it received a letter from the SEC’s enforcement division on Friday, detailing in a blog post that the agency has closed its investigation into the crypto business with no intention of moving forward with an enforcement action. The news...

Apple on Monday reaffirmed a commitment to invest hundreds of billions of dollars in the U.S. over the coming years amid pressure from President Donald Trump and the growing threat of his tariffs The tech giant said it planned to spend $500 billion over the next five years in the United States, with intentions to...