Adidas could write off value of unsold Yeezy stock – worth $500 million
Chief executive Bjorn Gulden said the scenario is “financially the worst case.”
Shares
Beauty giant Estée Lauder’s stock crashes 19% to 6-year low—Heirs lose nearly $3 billion
The five billionaire Lauder heirs correspondingly lost a combined $2.9 billion Wednesday.
Okta stock slid more than 11% after hacker accessed company’s support system
The company said its Okta authentication service was not targeted and remains unaffected by the hack.
Alphabet Earnings: Google parent stock slides despite profit, sales beats
Alphabet brought in a robust $59.6 billion in ad revenue last quarter but Wall Street soured on weaker than anticipated profits in the company’s cloud business.
Netflix earnings: Subscribers swell to record 247 million as stock soars
Netflix reported nine million net subscriber additions exceeded analyst estimates.
Birkenstock shares tank 13% from IPO price in rare debut unlacing
The 249-year-old German sandal maker proved to be an unwanted debutante, underperforming Arm, Instacart and Klaviyo’s 15% average rise in their September debuts.
LVMH shares drop on slower growth, wiping $6 billion from Bernard Arnault’s fortune
LVMH reported a major slump in growth in its third-quarter results amid weakening demand for luxury goods.
General Motors stock slides: 3-year low amid $5 billion strike slump
General Motors shares tanked again Thursday as a possible issue with its airbags added to negative concerns over the auto workers strike for the limping legacy American automaker.
23andMe user data stolen and listed for sale in attack targeting Ashkenazi Jews
The company, which has launched an investigation into the attack, said Friday it could not yet confirm whether the leaked information is real.
Donald Trump, Sam Bankman-Fried And The Snapchat founders: Here’s who fell off the 2023 Forbes 400 list
These 24 billionaires lost a combined $43 billion—and their spot among the nation’s wealthiest people.