Target Falls on Weak Profit, Amazon Gets a Boost

Shares of Target fell Tuesday morning after the company said higher wages put pressure on profits during the holiday quarter. The company also said it's investing $7 billion to open up smaller stores and remodel current locations. And Amazon shares are at a new record high, thanks to a new $2,000 price target from Monness Crespi. The company also said it's rolling out free delivery of Whole Foods orders for Prime customers in San Francisco and Atlanta. UPS also got a boost Tuesday after analysts said concerns over competition from Amazon in the delivery space were overblown.

More In Business

Jenius Bank Report Reveals Financial Impact on Mental Health

The Mind-Money Connection explores how managing finances can boost happiness and uncover the real impact personal finances have on mental health and well-being.

Milk, Eggs and Now Bullets for Sale In Grocery Vending Machines

A company has installed vending machines that sell ammunition in grocery stores in Alabama, Oklahoma, and Texas, raising gun control concerns.

Tax Prep Firm Intuit to lay off 1,800 as Part of AI-Focused Re-org

WASHINGTON (AP) — Tax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday that includes laying off abou

Microsoft Quits OpenAI Board Amidst Antitrust Scrutiny of AI pacts

Microsoft has relinquished its seat on the board of OpenAI, saying its participation is no longer needed because the firm has improved its governance.

Are Personal Checks Done? Target Will Stop Accepting Them Next Week

Target will no longer accept personal checks from shoppers as of July 15 in a sign of how a once ubiquitous payment method is going the way of the dodo.

Judge who Nixed Musk’s Pay Mulls Massive Fee Request from Lawyers

A Delaware judge is considering a massive and unprecedented fee request by lawyers who successfully voided a pay package for Tesla CEO Elon Musk

Small Businesses Continue to Suffer from Rent Inflation

The Bank of America Institute found that average monthly rent payment growth for the bank's small business clients rose 12% year-on-year.

Debate as AI-Driven Car Hits Person Crossing Against Light in China

A driverless ride-hailing car in China hit a pedestrian, but people on social media are taking the carmaker’s side in an AI vs. humans debate.

Fed’s Powell Highlights Slowing Job Market in Possible Rate Cuts Sign

The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell said in a possible sign of looming rate cuts.

King Arthur Baking’s CEO on the Flour Company’s Post-Pandemic Rise

America’s oldest flour company, King Arthur Baking Co., saw a six-fold increase in demand during the pandemic, and baking interest continues to rise.

Load More