The company’s earnings in Q4 barely met the expectations from analysts, coming at adjusted $2.80 per share. However, the revenue declined compared to the same period last year and missed the Wall Street estimates. McDonald’s reported revenue of $6.39 billion while analysts expected $6.44 billion.

McDonald’s recorded a 0.4% growth in global comparable sales versus a forecasted 0.41% drop. However, the chain’s performance in the United States, its biggest market, has greatly missed the mark.

The comparable sales in the U.S. have declined by 1.4% compared to 0.4% slide expected by analysts. It marked the company’s worst decline in almost five years. McDonald’s managed to “slightly” improve traffic in its stores thanks to a variety of deals and discounts, but the customers didn’t spend as much as expected.

January is expected to be another challenging month for McDonald’s despite the company’s efforts to boost sales with budget friendly McValue menu. However, experts are still convinced that the company will manage to make up the ground later in 2025. Out of 21 Wall Street analysts tracked by TipRanks, 13 have “Buy” or equivalent rating on McDonald’s stock while nine have “Hold” or equivalent rating.

McDonald’s stock jumped by 2.62% in pre-market trading on Monday compared to the previous close price of $294.30 per share.

The post McDonald’s Reports Worse-Than-Expected Q4 Earnings Amid Drop in Sales appeared first on theprimarymarket.com.

According to the letter, the move is part of the Back to Starbucks turnaround plan and will help the company operate more efficiently. The job eliminations will lead to smaller support teams but won’t affect in-store workers or “the investments we are making in store hours.”

The affected employees will be informed about the decision in early March.

“I do not take these decisions lightly, and I appreciate that this will create uncertainty and concern between now and then. I wanted to be transparent about our progress and our plans and ensure that you hear about this work directly from me,” Niccol said in the letter.

Since taking over as Starbucks’ CEO in September, Niccol announced a series of changes that are aimed to improve the company’s slumping business. This includes revamping Starbucks locations in the U.S., adding a more personal touch to interaction with customers, reducing waiting time to four minutes or less, and simplifying the menu.

Starbucks’ stock remained mostly flat on Friday, closing at $95.13. The company’s shares have been 3.21% up since the start of the year.

The post Starbucks CEO Announces Wave of Corporate Layoffs in March appeared first on theprimarymarket.com.

BofA reported $0.82 in earnings per share (EPS) in Q4, marking a 47% year-over-year jump and coming above $0.77 estimated by analysts. Its revenue jumped by 15% compared to the same period last year, coming at $25.5 billion versus expectations of $25.19 billion.

While BofA’s trading activity in the past quarter didn’t match the results of its closest rivals, the bank excelled in other areas. It saw a 44% jump in investment banking fees, which exceeded analysts’ expectations at a figure of $1.65 billion. Additionally, its net interest income was $14.36 billion compared to estimations of $14.18 billion.

“We finished 2024 with a strong fourth quarter,” Bank of America CEO Brian Moynihan said. “Every source of revenue increased, and we saw better than industry growth in deposits and loans … We believe this broad momentum sets up 2025 very well for Bank of America. “

BofA’s strong fourth-quarter earnings are in line with the performances of the five other largest banks in the United States. Morgan Stanley released its own Q4 earnings shortly after BofA and also topped the estimates, while Goldman Sachs and JPMorgan Chase did the same earlier this week.

The post Bank of America Tops Expectations With Q4 Earnings appeared first on theprimarymarket.com.

Lululemon previously projected sales between $3.48 billion and $3.51 billion and profit per share between $5.56 and $5.64. Now, the company expects to see growth between 11% and 12%, net revenue between $3.56 billion and $3.58 billion, and profit per share between $5.81 and $5.85.

Lululemon’s chief financial officer (CFO), Meghan Frank, said on Monday that shoppers responded “well” to the company’s holiday product offerings.

“During the holiday season, our guests responded well to our product offering, enabling us to increase our fourth quarter guidance,” Frank shared in a statement.

Abercrombie & Fitch is also more optimistic about its holiday quarter results. The company stated it projects sales growth between 7% and 8% after previously forecasting growth between 5% and 7%.

Investors responded favorably to Lululemon’s adjusted guidance, sending its stock up by 2.40% in premarket trading on Monday. The company’s shares previously closed at $395.47, being 3.25% up since the start of 2025.

Abercrombie & Fitch, on the other hand, didn’t give investors much confidence due to the overwhelming belief that the company has little room for growth. Its stock sank 9.89% in premarket trading compared to Friday’s close of $160.92 per share.

The post Lululemon and Abercrombie & Fitch Raise Quarterly Forecasts Amid Strong Holiday Season appeared first on theprimarymarket.com.

According to Hershey, Buck intends to retire on June 30, 2026. She will remain as CEO and board member until the company finds her successor. After that, she will transition to an advisory role until her retirement.

Hershey said it will consider both external and internal candidates while hiring a search firm to assist in the process.

Buck revealed that the length of her tenure as Hershey’s CEO has been discussed for a few years now, with the company asking her to prolong her departure.

“I love the company. I still have a little more to do before I go,” Buck said via The Wall Street Journal.

Buck joined Hershey in 2005 and held several positions throughout the years before taking over as the company’s CEO in 2017. While her time in charge is viewed mostly favorably, she now faces the challenge of steering the company through a difficult period amid slumping sales and rising cocoa prices before handing over the baton.

In the aftermath of Hershey’s announcement about the upcoming CEO change, the company’s stock dipped by 2.48% to close at $158.20 per share on Friday. The stock has now dropped 7.38% since the beginning of January.

The post Hershey Embarks on Search for New CEO After Michele Buck’s Decision to Retire appeared first on theprimarymarket.com.

According to the agreement, which was approved by the board of directors, Nordstrom shareholders will receive $24.25 for each common share of Nordstrom they hold. The company’s stock traded at $24.16 per share, being up 32.09% year-to-date, on Monday.

When the deal closes in early 2025, the Nordstrom family will own 51% of the company, while El Puerto de Liverpool will own the remaining 49%.

The founding family of Nordstrom attempted to take the company private back in 2018, offering $50 a share. However, the special committee ended up rejecting the offer, deeming it too low. 

 “For over a century, Nordstrom has operated with a foundational principle of helping customers feel good and look their best,” Nordstrom CEO Erik Nordstrom said in a press release. “Today marks an exciting new chapter for the business. On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future.”

The post Nordstrom Taken Private By Its Founding Family and Mexico’s El Puerto de Liverpool appeared first on theprimarymarket.com.

Albertsons and Kroger have initially announced a tie-up worth $25 billion in 2022. The deal would create one of the largest retailers in the nation. However, U.S. District Judge Adrienne Nelson opted to block the merger, ruling on Tuesday that it would eliminate competition between Albertsons and Kroger and lead to higher prices for consumers. Judge Marshall Ferguson from King County Superior Court in Washington later made a similar decision.

Now, Albertsons confirmed that the company “made the difficult decision to terminate the merger agreement.” It is also filing a lawsuit against Kroger and “seeking billions of dollars in damages from Kroger to make Albertsons and its shareholders whole.” According to the lawsuit, Kroger failed to make its “best efforts” and take “any and all actions” to secure regulatory approval for the deal.

On top of “billions of dollars in damages,” Albertsons is also demanding a break-up fee of $600 million.

Kroger, on the other hand, called Albertsons’ claims “baseless and without merit” and said it would respond to them in court. The retailer also stated that Albertsons isn’t entitled to a break-up fee.

“We went to extraordinary lengths to uphold the merger agreement throughout the entirety of the regulatory process,” Kroger added.

The post Albertsons Demanding “Billions of Dollars” From Rival Kroger After Failed Merger appeared first on theprimarymarket.com.

According to Omnicom’s official announcement, the acquisition of Interpublic will be an all-stock deal valued at $13.25 billion. Interpublic stockholders will receive 0.344 in Omnicom shares for every share they own. The new company will keep Omnicom name and will be 60.6% owned by existing Omnicom shareholders and 39.4% by Interpublic stockholders.

The combined company would be the largest advertising firm in the world, jumping over Publicis and WPP, with more than $25 billion in revenue. Omnicom had $14.7 billion in revenue in 2023 compared to Interpublic’s $10.9 billion.

“Through this combination, we are poised to accelerate innovation and harness the significant opportunities created by new technologies in this era of exponential change,” Omnicom’s chief executive John Wren said in a statement.

The move comes at a time when traditional advertising companies are forced to change their approach and adapt to the digital advertising market. They are also facing competition from large tech companies like Google, Meta, and Amazon, who are increasingly taking away their clients thanks to a diverse selection of advertising tools and marketplaces for ads.

The post Ad Giant Omnicom Agrees to Acquire Rival Interpublic for $13.25 Billion appeared first on theprimarymarket.com.

Gelsinger took over as Intel’s CEO in 2021. At the time, the decision was received with praise, considering his status as a company veteran and experience in the industry. However, his tenure will likely remembered as one of the worst periods in the company’s history.

During Gelsinger’s time in charge, the chipmaker went from being an industry leader to being an afterthought in the market focused on artificial intelligence chips dominated by rival Nvidia. The company’s stock also fell by more than 60% during that period and was removed from the Dow Jones Industrial Average, which lists the leading U.S. stocks.

Intel will adopt a co-CEO structure for the time being, with David Zinsner, the company’s CFO, and Michelle Johnston Holthaus, CEO of the Intel Products division, taking over on an interim basis. Meanwhile, the company’s board already started the search for a new permanent CEO.

“While we have made significant progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry, we know that we have much more work to do at the company and are committed to restoring investor confidence,” interim executive chair Frank Yeary said in a statement. “We are working to create a leaner, simpler, more agile Intel.”

Intel previously made several moves in an attempt to turn around its performance. It reduced its workforce by 15% and initiated several other cost-cutting measures, struck a five-year deal with AWS, and revealed plans to set up its Intel Foundry as an independent subsidiary. However, these moves have yet to yield positive results.

The post Intel Stock Jumps After CEO Pat Gelsinger’s Retirement appeared first on theprimarymarket.com.

According to a report by Bloomberg, FTC received complaints that Uber signed up users to Uber One without their consent while also making the cancelation process complicated and difficult. The FCT is now undertaking an investigation, which was launched earlier this year, to see if Uber violated consumer protection laws with its practice.

Uber released a statement following the reports, saying that the company is collaborating with FTC and will “continue to answer any questions” that FTC might have. It also added that the Uber One cancelation is a simple process that takes less than a minute to complete.

“The Uber One cancellation process follows both the letter and the spirit of the law: Uber One members can easily cancel their membership in the app — in fact, the majority of those cancellations take 20 seconds or less,” Uber spokesperson Noah Edwardsen stated.

Uber One allows subscribers to use Uber’s services at a discount for a fee of $9.99 on a monthly basis or a $96 annual fee. The company said in October that the subscription service had 25 million subscribers.

The news didn’t affect Uber’s stock, which remained mainly flat and closed at $71.62 per share on Wednesday. The company’s shares are currently 22.68% up year-to-date. 

The post Uber is Facing a FTC Probe Over Its Subscription Service appeared first on theprimarymarket.com.

The company’s earnings in Q4 barely met the expectations from analysts, coming at adjusted $2.80 per share. However, the revenue declined compared to the same period last year and missed the Wall Street estimates. McDonald’s reported revenue of $6.39 billion while analysts expected $6.44 billion.

McDonald’s recorded a 0.4% growth in global comparable sales versus a forecasted 0.41% drop. However, the chain’s performance in the United States, its biggest market, has greatly missed the mark.

The comparable sales in the U.S. have declined by 1.4% compared to 0.4% slide expected by analysts. It marked the company’s worst decline in almost five years. McDonald’s managed to “slightly” improve traffic in its stores thanks to a variety of deals and discounts, but the customers didn’t spend as much as expected.

January is expected to be another challenging month for McDonald’s despite the company’s efforts to boost sales with budget friendly McValue menu. However, experts are still convinced that the company will manage to make up the ground later in 2025. Out of 21 Wall Street analysts tracked by TipRanks, 13 have “Buy” or equivalent rating on McDonald’s stock while nine have “Hold” or equivalent rating.

McDonald’s stock jumped by 2.62% in pre-market trading on Monday compared to the previous close price of $294.30 per share.

The post McDonald’s Reports Worse-Than-Expected Q4 Earnings Amid Drop in Sales appeared first on theprimarymarket.com.

According to the letter, the move is part of the Back to Starbucks turnaround plan and will help the company operate more efficiently. The job eliminations will lead to smaller support teams but won’t affect in-store workers or “the investments we are making in store hours.”

The affected employees will be informed about the decision in early March.

“I do not take these decisions lightly, and I appreciate that this will create uncertainty and concern between now and then. I wanted to be transparent about our progress and our plans and ensure that you hear about this work directly from me,” Niccol said in the letter.

Since taking over as Starbucks’ CEO in September, Niccol announced a series of changes that are aimed to improve the company’s slumping business. This includes revamping Starbucks locations in the U.S., adding a more personal touch to interaction with customers, reducing waiting time to four minutes or less, and simplifying the menu.

Starbucks’ stock remained mostly flat on Friday, closing at $95.13. The company’s shares have been 3.21% up since the start of the year.

The post Starbucks CEO Announces Wave of Corporate Layoffs in March appeared first on theprimarymarket.com.

BofA reported $0.82 in earnings per share (EPS) in Q4, marking a 47% year-over-year jump and coming above $0.77 estimated by analysts. Its revenue jumped by 15% compared to the same period last year, coming at $25.5 billion versus expectations of $25.19 billion.

While BofA’s trading activity in the past quarter didn’t match the results of its closest rivals, the bank excelled in other areas. It saw a 44% jump in investment banking fees, which exceeded analysts’ expectations at a figure of $1.65 billion. Additionally, its net interest income was $14.36 billion compared to estimations of $14.18 billion.

“We finished 2024 with a strong fourth quarter,” Bank of America CEO Brian Moynihan said. “Every source of revenue increased, and we saw better than industry growth in deposits and loans … We believe this broad momentum sets up 2025 very well for Bank of America. “

BofA’s strong fourth-quarter earnings are in line with the performances of the five other largest banks in the United States. Morgan Stanley released its own Q4 earnings shortly after BofA and also topped the estimates, while Goldman Sachs and JPMorgan Chase did the same earlier this week.

The post Bank of America Tops Expectations With Q4 Earnings appeared first on theprimarymarket.com.

Lululemon previously projected sales between $3.48 billion and $3.51 billion and profit per share between $5.56 and $5.64. Now, the company expects to see growth between 11% and 12%, net revenue between $3.56 billion and $3.58 billion, and profit per share between $5.81 and $5.85.

Lululemon’s chief financial officer (CFO), Meghan Frank, said on Monday that shoppers responded “well” to the company’s holiday product offerings.

“During the holiday season, our guests responded well to our product offering, enabling us to increase our fourth quarter guidance,” Frank shared in a statement.

Abercrombie & Fitch is also more optimistic about its holiday quarter results. The company stated it projects sales growth between 7% and 8% after previously forecasting growth between 5% and 7%.

Investors responded favorably to Lululemon’s adjusted guidance, sending its stock up by 2.40% in premarket trading on Monday. The company’s shares previously closed at $395.47, being 3.25% up since the start of 2025.

Abercrombie & Fitch, on the other hand, didn’t give investors much confidence due to the overwhelming belief that the company has little room for growth. Its stock sank 9.89% in premarket trading compared to Friday’s close of $160.92 per share.

The post Lululemon and Abercrombie & Fitch Raise Quarterly Forecasts Amid Strong Holiday Season appeared first on theprimarymarket.com.

According to Hershey, Buck intends to retire on June 30, 2026. She will remain as CEO and board member until the company finds her successor. After that, she will transition to an advisory role until her retirement.

Hershey said it will consider both external and internal candidates while hiring a search firm to assist in the process.

Buck revealed that the length of her tenure as Hershey’s CEO has been discussed for a few years now, with the company asking her to prolong her departure.

“I love the company. I still have a little more to do before I go,” Buck said via The Wall Street Journal.

Buck joined Hershey in 2005 and held several positions throughout the years before taking over as the company’s CEO in 2017. While her time in charge is viewed mostly favorably, she now faces the challenge of steering the company through a difficult period amid slumping sales and rising cocoa prices before handing over the baton.

In the aftermath of Hershey’s announcement about the upcoming CEO change, the company’s stock dipped by 2.48% to close at $158.20 per share on Friday. The stock has now dropped 7.38% since the beginning of January.

The post Hershey Embarks on Search for New CEO After Michele Buck’s Decision to Retire appeared first on theprimarymarket.com.

According to the agreement, which was approved by the board of directors, Nordstrom shareholders will receive $24.25 for each common share of Nordstrom they hold. The company’s stock traded at $24.16 per share, being up 32.09% year-to-date, on Monday.

When the deal closes in early 2025, the Nordstrom family will own 51% of the company, while El Puerto de Liverpool will own the remaining 49%.

The founding family of Nordstrom attempted to take the company private back in 2018, offering $50 a share. However, the special committee ended up rejecting the offer, deeming it too low. 

 “For over a century, Nordstrom has operated with a foundational principle of helping customers feel good and look their best,” Nordstrom CEO Erik Nordstrom said in a press release. “Today marks an exciting new chapter for the business. On behalf of my family, we look forward to working with our teams to ensure Nordstrom thrives long into the future.”

The post Nordstrom Taken Private By Its Founding Family and Mexico’s El Puerto de Liverpool appeared first on theprimarymarket.com.

Albertsons and Kroger have initially announced a tie-up worth $25 billion in 2022. The deal would create one of the largest retailers in the nation. However, U.S. District Judge Adrienne Nelson opted to block the merger, ruling on Tuesday that it would eliminate competition between Albertsons and Kroger and lead to higher prices for consumers. Judge Marshall Ferguson from King County Superior Court in Washington later made a similar decision.

Now, Albertsons confirmed that the company “made the difficult decision to terminate the merger agreement.” It is also filing a lawsuit against Kroger and “seeking billions of dollars in damages from Kroger to make Albertsons and its shareholders whole.” According to the lawsuit, Kroger failed to make its “best efforts” and take “any and all actions” to secure regulatory approval for the deal.

On top of “billions of dollars in damages,” Albertsons is also demanding a break-up fee of $600 million.

Kroger, on the other hand, called Albertsons’ claims “baseless and without merit” and said it would respond to them in court. The retailer also stated that Albertsons isn’t entitled to a break-up fee.

“We went to extraordinary lengths to uphold the merger agreement throughout the entirety of the regulatory process,” Kroger added.

The post Albertsons Demanding “Billions of Dollars” From Rival Kroger After Failed Merger appeared first on theprimarymarket.com.

According to Omnicom’s official announcement, the acquisition of Interpublic will be an all-stock deal valued at $13.25 billion. Interpublic stockholders will receive 0.344 in Omnicom shares for every share they own. The new company will keep Omnicom name and will be 60.6% owned by existing Omnicom shareholders and 39.4% by Interpublic stockholders.

The combined company would be the largest advertising firm in the world, jumping over Publicis and WPP, with more than $25 billion in revenue. Omnicom had $14.7 billion in revenue in 2023 compared to Interpublic’s $10.9 billion.

“Through this combination, we are poised to accelerate innovation and harness the significant opportunities created by new technologies in this era of exponential change,” Omnicom’s chief executive John Wren said in a statement.

The move comes at a time when traditional advertising companies are forced to change their approach and adapt to the digital advertising market. They are also facing competition from large tech companies like Google, Meta, and Amazon, who are increasingly taking away their clients thanks to a diverse selection of advertising tools and marketplaces for ads.

The post Ad Giant Omnicom Agrees to Acquire Rival Interpublic for $13.25 Billion appeared first on theprimarymarket.com.

Gelsinger took over as Intel’s CEO in 2021. At the time, the decision was received with praise, considering his status as a company veteran and experience in the industry. However, his tenure will likely remembered as one of the worst periods in the company’s history.

During Gelsinger’s time in charge, the chipmaker went from being an industry leader to being an afterthought in the market focused on artificial intelligence chips dominated by rival Nvidia. The company’s stock also fell by more than 60% during that period and was removed from the Dow Jones Industrial Average, which lists the leading U.S. stocks.

Intel will adopt a co-CEO structure for the time being, with David Zinsner, the company’s CFO, and Michelle Johnston Holthaus, CEO of the Intel Products division, taking over on an interim basis. Meanwhile, the company’s board already started the search for a new permanent CEO.

“While we have made significant progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry, we know that we have much more work to do at the company and are committed to restoring investor confidence,” interim executive chair Frank Yeary said in a statement. “We are working to create a leaner, simpler, more agile Intel.”

Intel previously made several moves in an attempt to turn around its performance. It reduced its workforce by 15% and initiated several other cost-cutting measures, struck a five-year deal with AWS, and revealed plans to set up its Intel Foundry as an independent subsidiary. However, these moves have yet to yield positive results.

The post Intel Stock Jumps After CEO Pat Gelsinger’s Retirement appeared first on theprimarymarket.com.

According to a report by Bloomberg, FTC received complaints that Uber signed up users to Uber One without their consent while also making the cancelation process complicated and difficult. The FCT is now undertaking an investigation, which was launched earlier this year, to see if Uber violated consumer protection laws with its practice.

Uber released a statement following the reports, saying that the company is collaborating with FTC and will “continue to answer any questions” that FTC might have. It also added that the Uber One cancelation is a simple process that takes less than a minute to complete.

“The Uber One cancellation process follows both the letter and the spirit of the law: Uber One members can easily cancel their membership in the app — in fact, the majority of those cancellations take 20 seconds or less,” Uber spokesperson Noah Edwardsen stated.

Uber One allows subscribers to use Uber’s services at a discount for a fee of $9.99 on a monthly basis or a $96 annual fee. The company said in October that the subscription service had 25 million subscribers.

The news didn’t affect Uber’s stock, which remained mainly flat and closed at $71.62 per share on Wednesday. The company’s shares are currently 22.68% up year-to-date. 

The post Uber is Facing a FTC Probe Over Its Subscription Service appeared first on theprimarymarket.com.