Author: streetwiseir

While other automakers have made the move to go all-electric, Toyota Motor introduced new versions of the Prius hybrid and Prius Prime on Tuesday. Both models are considered “electrified” not completely electric. “They continue to utilize gas-powered engines along with electric components that make the vehicles more fuel-efficient,” according to CNBC.  The new version of the Prius hybrid car has a noticeably different exterior. “It’s lower,...

Target released its third-quarter earnings results and admitted that inventory loss has reduced its gross profit margin by $400 million so far this year compared to 2021, according to Yahoo Finance.  In an email to Yahoo Finance, a Target Spokesperson said the inventory loss, or the disappearance of merchandise, was largely attributed to “organized retail crime.”  Target CFO, Michael Fiddelke explained during the earnings call that there...

Concerns about TikTok have been circulating throughout the United States for years. On Tuesday, FBI Director, Christopher Wray, warned lawmakers that he is “extremely concerned” about TikTok’s operations in the United States.  In Wray’s testimony to Congress, he said “We do have national security concerns, obviously from the FBI’s end, about TikTok. They include the possibility that the Chinese government could use it to control data...

Amazon announced on Tuesday that it is expanding its healthcare offerings and introduced Amazon Clinic.  “Amazon Clinic will operate in 32 states and provide virtual care for more than 20 common health conditions, such as allergies, acne, and hair loss,” according to Amazon’s website.  Amazon Clinic was created for “quick interactions with a clinician for a common health concern that can be easily addressed virtually,” Amazon claims.  Amazon...

John R. Tyson, the chief financial officer of Tyson Foods was arrested on Nov. 6 after entering the wrong home and falling asleep in a bedroom. Now, over a week later, he has addressed the situation. During an earnings call with investors on Monday, Tyson admitted, “I’m embarrassed and I want to let you know that I take full responsibility for my actions. I also want...

Last week, Amazon introduced Sparrow, a robotic arm that could one day assist warehouse workers with tedious tasks while improving safety in the workplace.  According to Amazon’s website, “Sparrow is Amazon’s new intelligent robotic system that streamlines the fulfillment process by moving individual products before they get packaged—a major technological advancement to support our employees.” Amazon explained that last year its “employees around the world picked, stowed,...

Since the COVIC-19 pandemic hit, many retailers have started closing their stores on Thanksgiving. Holiday shopping and Black Friday deals meant massive crowds and the potential spreading of the virus. This temporary measure has now become the new normal for many businesses.  However, CNN Business noted, “…with the growth of online shopping, retailers aren’t as reliant on specific days to drive sales anymore. The extended shopping...

The winner of the largest lottery prize ever was announced Tuesday morning. The winning ticket was sold at Joe’s Service Center located in Altadena, Calif., per the California Lottery.  According to the Powerball website, there was one sole winner of the Powerball grand prize with an estimated total of $2.04 billion and a cash value of $997.6 million. The winning numbers were: 10-33-41-47-56-Power 10. CNN reported, “The...

On Monday, Tesla shares were down 5%, reaching the lowest level in 18 months, according to The Motley Fool.  Tesla, along with many other companies, has experienced many issues with production while dealing with the implications of inflation.  The electric car company has been experiencing problems at its Shanghai, China plant considering the country’s zero-Covid policy, still enforcing restrictions and quarantines. This has negatively affected productivity.  Another...

Kohl’s announced on Tuesday that the CEO, Michelle Gass, would be stepping down to pursue a new opportunity with Levi Strauss & Co. Levi & Strauss announced that Gass would be taking over the company's CEO role in early January.  Gass’s departure from the company comes after much scrutiny from investors. According to CNBC, “Activist investor Ancora Holdings pushed Kohl’s to remove Gass from the position. Another...