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Consumers took advantage of heavy discounting by online retailers to start up the holiday shopping season in high gear. According to Adobe Analytics, record online spending on Thanksgiving and Black Friday drove Cyber Week — Thanksgiving through Cyber Monday — to $35 billion in total sales, itself a record and up 4% from last year. The numbers were driven by discounts across categories, with peak deals of 34% off the prices of toys, 25% off electronics like computers and TVs and 18% off apparel. “With oversupply and a softening consumer spending environment, retailers made the right call this season to drive demand through heavy discounting,” Vivek Pandya, a lead analyst at Adobe Digital Insights, said in a statement. “It spurred online spending to levels that were higher than expected, and reinforced e-commerce as a major channel to drive volume and capture consumer interest.”  Top-selling toys included Pokémon cards, Legos, Hot Wheels, Disney's “Encanto”-branded merchandise...

Amazon.com said on Wednesday it record ed its biggest ever Thanksgiving weekend this year as shoppers, undeterred by inflation, scooped up everything from New Balance sneakers to Nintendo Switch gaming consoles. Fire TV Sticks, AirPods and Champion clothing were among the top-selling items, Amazon said. Amazon did not provide a total sales figure for the weekend , but noted shoppers generated more than $1 billion in sales for small businesses in the United States. The National Retail Federation said on Tuesday a record number of 196.7 million people shopped during the five-day period from Thanksgiving through Cyber Monday, while Adobe Analytics said Cyber Monday sales rose to $11.3 billion, making it the biggest U.S. online shopping day in history. Source: https://companiesbio.com/amazon-records-biggest-ever-thanksgiving-shopping-weekend-CBIO950.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam Category: Business News Post by: Compa...

In this article FIVE COST SNOW CRM Follow your favorite stocks CREATE FREE ACCOUNT Signage on a Saleforce office building in San Francisco, California, U.S., on Tuesday, Feb. 23, 2021. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell :  Salesforce — Salesforce's stock shed 6.7% despite beating analysts' expectations on both the top and bottom lines after announcing the departure of co-CEO Bret Taylor. Snowflake — The cloud stock tumbled 6% after hours on light product revenue guidance despite a top and bottom line beat. Snowflake said it expects revenue to come in between $535 million and $540 million in the fourth quarter, below estimates of roughly $553 million, according to StreetAccount. Costco Wholesale — The retail stock ticked about 3.2% lower in extended trading after posting November sales numbers. Costco said net sales for the period came in at $19.17 billion, up 5.7% year over year. E-commerce sales fell 10.1%...

TreeCard offers users a spending and money management platform tied to a debit card made from wood. TreeCard TreeCard, a climate-conscious digital money app, raised $23 million from investors in a new financing round. Founded by British entrepreneur Jamie Cox in October 2020, TreeCard is a novel concept in the fintech world. It offers users a spending and money management platform tied to a debit card made from wood. related investing news How an intellectual approach and a whimsical mascot helped lead to this fund's number one ranking Carmen Reinicke 10 hours ago The firm uses 80% of the profits it makes from card interchange fees to plant trees through a partnership with green search engine Ecosia. TreeCard has so far planted more than 200,000 trees. The deal underscores increased interest by VC investors in companies addressing climate change. Funding for climate tech startups hit a record $111 billion in 2021, according to a report from U.K. startup network Tech Nation. "T...

Velveeta’s tagline might be “liquid gold,” but a woman in the sunshine state has declared the company owes her quite a few pieces of silver. On Nov. 18, Florida resident Amanda Ramirez sued the Kraft Heinz Company for at least $5 million over what she claims is deceptive and fraudulent packaging . Ramirez says that since Kraft’s Velveeta Shells & Cheese Microwavable Shell Pasta takes longer than 3-and-a-half minutes to prepare even though its packing states “ready in 3½ minutes,” that constitutes fraud. “To provide consumers with a Product that is actually “ready in 3½ minutes" the Product would need to be cooked in the microwave for less than 3-and-a-half minutes, so that all the preparation steps could be completed in the 3-and-a-half minutes timeframe,” reads the lawsuit filed in the U.S. District Court for the Southern District of Florida.  In the suit, the mac and cheese’s five instructions that appear on the product packaging are listed, from removing the lid, addin...

Westend61 The fear of loss is a powerful emotion for investors — and, if left unchecked, can cost them big bucks in the long term due to years of forfeiture of invest ment gains. That fear is a natural product of human evolution. Our brains are hardwired to detect risks — a useful cognitive tool that helped early humans and their forbears stay alive, if they had to evade predators or determine what foods were safe to eat, for example. related investing news These assets have yields not seen in years — here’s what to know about preferred stocks Michelle Fox 4 hours ago Fast-forward to the modern era, though, and that ancient threat-detection and loss-prevention mechanism can do us a disservice. "We didn't evolve to live in financial markets," said Dan Egan, vice president of behavioral finance and investing at Betterment. "We evolved to deal with 'natural threats.'" watch now VIDEO 1:46 01:46 JPMorgan says 60/40 portfolio has best return environment in...

In this article HZNP CRWD NTAP HPE ASTS WDAY Follow your favorite stocks CREATE FREE ACCOUNT CrowdStrike IPO at the Nasdaq exchange June 12, 2019. Source: Nasdaq Check out the companies making headlines in after hours trading. Workday — Workday gained 6% postmarket Tuesday after earnings beat Wall Street estimates on both the top- and bottom lines. The software vendor reported adjusted earnings per share of 99 cents on $1.6 billion in revenue, where analysts expected adjusted earnings of 84 cents  per share and $1.59 billion in revenue, per Refinitiv. CrowdStrike — CrowdStrike Holdings plunged more than 18% after giving light guidance for fourth-quarter revenue. In the quarter just ended, results topped earnings and revenue expectations, with the cybersecurity provider posting adjusted earnings per share of 40 cents on $581 million in revenue where analysts expected adjusted earnings of 31 cents per share on $574 million in revenue, per Refinitiv. NetApp — NetApp stock fell 10.8%...

A self-described "natural" baby product company is recalling 10,500 of its stainless steel bottles and cups for toddlers that pose a risk of lead poisoning, the U.S. Consumer Product Safety Commission announced Wednesday. Three of Green Sprouts' products are subject to the recall: its 6 ounce stainless steel sippy cup, its 8 ounce stainless steel straw bottle, which have the tracking numbers 29218V06985 or 35719V06985, and its 6 ounce stainless steel sip and straw cup, which has the tracking number 33020V06985, according to the recall notice. The tracking numbers are printed on the bottom of the bottles, which were sold in aqua, pink, green and navy colors, according to the notice. The bottom bases of the product s can break off and expose kids to a solder dot — a type of metal used to join metallic surfaces — that contains lead, it says. "Lead is toxic if ingested by young children, and can cause adverse health effects," the recall notice said. So far, there h...

In this article FSLR WSM PDD BUD Follow your favorite stocks CREATE FREE ACCOUNT A Biogen facility in Cambridge, Massachusetts. Brian Snyder | Reuters Check out the companies making the biggest moves midday : Apple — Apple shares fell 2% following a report that iPhone production could take a big hit due to unrest at a Foxconn factory in China, amid protests in China against the nation's zero-Covid policy. Analysts have expressed concern about recent manufacturing interruptions ahead of the holiday season too. related investing news Here are Monday's biggest analyst calls: Amazon, Apple, DraftKings, Tesla, Live Nation & more Michael Bloom 4 hours ago JPMorgan downgrades First Solar, cites stock's recent outperformance following climate bill passage Samantha Subin 5 hours ago Taboola — Shares of the advertising company surged 45% after Taboola announced Yahoo had taken a 25% stake in the company as part of a 30-year agreement, in which Taboola will power native adv...

Kim Kardashian says she is “re-evaluating” her relationship with Balenciaga in light of the brand’s recent ad campaign that featured images of young children posing with teddy bears that appeared to be wearing BDSM-inspired accessories.  “I have been quiet for the past few days, not because I haven’t been disgusted and outraged by the recent Balenciaga campaigns, but because I wanted an opportunity to speak to their team to understand for myself how this could have happened,” Kardashian, 42, wrote in her Instagram story on Sunday.  “As a mother of four, I have been shaken by the disturbing images,” she continued. “The safety of children must be held with the highest regard and any attempts to normalize child abuse of any kind should have no place in our society — period.” Following the outcry surrounding their recent ad images, Balenciaga deleted all of its Instagram posts and shared a statement of apology on the social media platform. Balenciaga cuts ties with Kanye West after ant...

Distressed crypto firm BlockFi has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey following the implosion of putative acquirer FTX. In the filing, the company indicated that it had more than 100,000 creditors, with liabilities and assets ranging from $1 billion to $10 billion. In the filing, the company listed an outstanding $275 million loan to FTX US, the American arm of Sam Bankman-Fried’s now-bankrupt empire. A BlockFi subsidiary also moved for bankruptcy in Bermuda concurrently with the American filing. Bermuda, like the Bahamas, has embraced crypto as the future of finance. Both established frameworks to deal specifically with crypto assets and digital currencies. Both the Bahamas, with FTX’s bankruptcy , and now Bermuda, with BlockFi’s, face the first significant legal tests of their crypto regulations. BlockFi’s bankruptcy filing shows that the company’s largest disclosed client has a balance of nearly $28 mill...

The Securities and Exchange Commission today released its Strategic Plan for fiscal years 2022 to 2026, outlining agency objectives to fight against fraud, maintain a robust and relevant regulatory framework, and sustain a skilled and diverse workforce to serve America’s investors and capital-raising entrepreneurs alike. “Our capital markets touch all Americans’ lives, whether they’re saving for the future, borrowing for a mortgage, taking out an auto loan, or working for a company that raises money from the public,” said SEC Chair Gary Gensler. “That’s why it is critical that the SEC continue to evolve and modernize our rulesets as technology, business models, and our markets change. Our Strategic Plan will help guide these efforts and advance our work to protect American families, keep pace with ever-changing times, and invest in our talented staff.” The SEC's new Strategic Plan establishes three primary goals: Protect the investing public against fraud, manipulation, an...