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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Aug 01, 2023
Page
8
Starbucks announces its third quarter earnings after the bell. Analysts expect earnings of 95 cents per share on sales of 9.3 billion dollars, up from 84 cents on 8.2 billion a year ago. Stronger demand in China supported better sales.
The S&P 500 rose 0.1 percent as it wrapped a fifth straight month of gains to reach a 16 month high. The Dow and Nasdaq also advanced while investors awaited upcoming economic data and results from big companies. SoFi closed at 83.98 and 49.93 intraday, up 13.4 percent after deal news with Francisco Partners and TPG. Symbolic closed at 63.54, up 50.6 percent after beating fiscal Q3 revenue forecasts.
Georgia Power announces Unit 3 at Plant Vogtle near Augusta entered commercial operation, delivering power to the grid. The reactor can power about 500,000 homes, with utilities in Georgia, Florida and Alabama purchasing the output. A fourth reactor is nearing completion. combined project costs have escalated from $14 billion to about $31 billion.
The nonprofit Center for Countering Digital Hate, which studies links between social media, hate and extremism, received a letter from X accusing it of harming the platform’s advertising. The group has published studies noting rising hate speech since Elon Musk bought the site last year, while Musk claims to defend free speech.
New York AP reports troubled Yellow Corp. is ceasing operation and filing for bankruptcy after years of debt and strategic woes. The Teamsters say an official filing is imminent, signaling a major shift for U.S. transportation and shipper markets. The collapse follows a pandemic era loan and longstanding management issues.
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