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.
Derek Saul, Forbes Staff
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.
Lululemon stock rallies to 52-Week high after joining S&P 500
The Canadian athleisure firm is on track for its second-largest share price surge of 2023.
Qatari Sheikh revokes US$6 billion bid for Manchester United – opening door for UK billionaire James Ratcliffe
Britain’s richest man Ratcliffe may now be on the cusp of taking over the Premier League’s most valuable team, though Bloomberg reports he may initially buy only a quarter of the club.
Trump’s SPAC loses nearly US$200 million in stock purchase deals
Shares of Digital World Acquisition Corp. are down more than 80% from last spring as its merger with Truth Social’s parent company faces increased hiccups.
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.
Sam Bankman-Fried thought he had 5% chance of becoming US president, ex-girlfriend testifies
Caroline Ellison, the former CEO of FTX’s sister hedge fund Alameda Research, said her former colleague and love interest Bankman-Fried had high political ambitions.
Israeli shekel slumps to 7.5-year low amid war with Hamas
The shekel has shed 3% since Friday before the Hamas attack on Israel.
Donald Trump erupts after being left off The Forbes 400 list
Former President Donald Trump responded Monday to being left off of The Forbes 400 list of the richest Americans, levying several false allegations against Forbes.