The Daily News Now! Business

Private credit is finally making its way into your 401(k) — think of it as investing in private companies without the easy exit you get with public stocks. While it promises higher returns, it also means locking up your money with no quick sale if things go south. Big players like Blackstone, Apollo, and KKR are leading the charge, leveraging their scale and track records to bring this complex, hi...

Pitchfork Festivals is suing co-founder Michael Reed for allegedly stealing over half a million dollars by faking expenses for a nonexistent 2025 event, as the festival shut down in 2024 — a move that comes amid corporate upheaval after Condé Nast merged Pitchfork into GQ, leaving staff jobless. Reed funneled festival funds through his own companies, including Big Stik LLC, and now faces charges o...

Apple is suing OpenAI, claiming its former employee Tang Tan stole trade secrets and that another employee downloaded dozens of confidential hardware files — all as OpenAI ramps up its own hardware ambitions. The lawsuit alleges Tan encouraged outsiders to bring Apple hardware parts and share secrets, while OpenAI is accused of leveraging Apple’s supplier relationships and proprietary terms. Despi...

Michael Hogan, GlobalFoundries’ Chief Strategy Officer, quietly cashed out a massive 78% of his direct stake—2,800 shares—worth nearly $187K, executed under a pre-approved Rule 10b5-1 plan, amid a 70% stock surge. Despite the splashy exit, the semiconductor giant’s fundamentals remain rock-solid, with strong revenue and profits powering its position as a key chipmaker for autos and tech. Listen in...

WD-40’s stock is soaring after crushing Q3 earnings—net sales jumped 24% to $195M across every major region, fueled by global expansion, booming online sales, and strong demand for premium products that boosted margins. Operating income surged 47%, prompting the company to ditch plans to sell off home care brands and raise its full-year sales forecast to 10-12%. With solid profitability, global sc...

Phia, the flashy shopping app co-founded by Bill Gates’ daughter Phoebe Gates and Sophia Kianni, is under fire for allegedly “cookie stuffing” — secretly hijacking sales to claim commissions it didn’t earn. Suspended from Impact.com, the app’s controversial tactics mirror past scandals like Honey’s class-action lawsuit. Despite raising $40M and counting Kim Kardashian and Hailey Bieber among inves...

Ford just crushed it in the J.D. Power Initial Quality Study, claiming the top spot for mainstream brands after a decade-long drought — and it’s not just bragging rights. Their F-150, Mustang, and Super Duty all won category awards, with seven out of ten models landing in the top three. That’s a massive 41-point jump from last year — the biggest leap in the industry. The win? It’s a direct shot at...

Gulfport Energy’s stock plunged over 5% after Truist downgraded its price target, signaling growing caution in the natural gas sector. With gas storage expected to hit five-year highs and oil prices climbing due to Middle East tensions — a classic inverse relationship — investors are feeling the pressure. This episode unpacks how global events ripple through energy markets, making natural gas stoc...

Texas just dropped a financial bombshell — it’s got its own stock exchange, the TXSE, officially trading after years of planning. Governor Greg Abbott’s bold vision, spearheaded by James Lee and backed by Wall Street giants like Goldman Sachs and Citadel, aims to position Texas as a national economic powerhouse. Launched Friday at 9:30 AM with a handful of ticker symbols, the TXSE isn’t just a loc...

Circle just landed a major federal bank charter, giving it a regulated home to manage digital assets — starting with its own USDC stablecoin and potentially expanding to institutional clients. The key goal? Bringing federal oversight directly to the USDC reserve, aligning with new stablecoin regulations. This follows conditional approval back in December and puts Circle ahead in regulatory complia...

Vodafone’s stock soared nearly 13% after French billionaire Xavier Niel, founder of Iliad, snapped up a 16% stake through his Vega vehicle—worth $6 billion at a 13% premium—making him the company’s largest shareholder and signaling a global telecom consolidation play centered on key European markets. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise...

Pfizer’s late to the GLP-1 weight-loss game but might just win with convenience—its new monthly injection, Berobenatide, could finally crack the adherence problem that’s plagued daily or weekly treatments, offering strong results with fewer needles and less hassle. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN: advertise@thednn.ai This is...

Elliott Management is quietly amassing a major stake in CCC Intelligent Solutions, the auto industry software giant handling insurance claims and repairs, even before the company began exploring a sale — signaling serious intentions to shake things up as activist investors ramp up their push in a booming deal market. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discoun...

Simply Good Foods’ stock tumbled after beating earnings estimates but posting a sharp sales drop and flipping to a $52M net loss, sparking bearish analyst reactions—with one slashing the price target from $39 to $14—highlighting investor skepticism over the company’s long-term growth amid a volatile healthy food market. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/disc...

Circle just unlocked a major regulatory win: it’s now officially licensed to operate Circle National Trust, a federally supervised trust bank that will hold and safeguard assets for the company — without taking deposits or making loans. This approval from the OCC streamlines oversight, eliminates fragmented state regulations, and lets Circle manage the reserves backing its USDC stablecoin in-house...

Gold and Bitcoin are tanking—down 25% and nearly 50% respectively—while PepsiCo, down 30%, offers a juicy 4.1% dividend yield and real business growth. Unlike digital assets, PepsiCo adapts to consumer trends, diversifies globally, and keeps paying dividends even through dips. It’s not just surviving—it’s thriving with innovation like protein chips and probiotic drinks. While recovery may take tim...

EPAM’s stock tumbled 4% after Deutsche Bank slashed its price target from $110 to $85, citing weakening IT demand and a looming slowdown—though the bank kept its hold rating. This isn’t unusual for EPAM, which has seen 19 moves over 5% in the past year, suggesting this dip is a notable event, not a fundamental shift. Broader economic caution, fueled by slower-than-expected interest rate cuts, is d...

Gulfport Energy’s stock tumbled 5% after Truist slashed its price target from $219 to $190, citing cautious outlook on natural gas prices and elevated storage levels through October — though they kept a “Hold” rating. Despite the drop, the stock remains relatively stable historically, and while down 26% year-to-date, a five-year investment would’ve doubled. This episode underscores how volatile en...

Solaris Energy Infrastructure’s stock surged nearly 6% today on the heels of its upcoming inclusion in the S&P SmallCap 600, triggering automatic buying by index funds and a stamp of institutional approval—though analysts caution this doesn’t signal a fundamental business upgrade. The company’s volatile nature remains intact, but recent acquisition of a firm for $55M cash plus 3M shares is expecte...

Apple is suing OpenAI over alleged theft of trade secrets by former Apple engineers now working at OpenAI, claiming they took confidential data, company laptops, and accessed colleagues’ systems to help build OpenAI’s next-gen AI devices. The lawsuit threatens OpenAI’s hardware ambitions and IPO plans, while exposing a fractured partnership that once aimed to integrate ChatGPT into Apple products....

Meta’s cloud push is heating up—aiming to rival AWS and Azure by building an AI-powered marketplace, monetizing massive data center investments, and slashing infrastructure costs. Partnering with Broadcom for custom AI chips, they’re boosting efficiency while launching the improved Muse Spark 1.1, which shows strong reasoning and coding chops at a competitive price. All while trading at a discount...

WD-40 just shattered expectations with a blockbuster Q2 earnings report, delivering $2.24 EPS (vs. $1.57 forecast) and $195M in revenue (vs. $173M forecast), fueled by soaring demand and improved efficiency. The company bumped its full-year revenue target to $682M, sparking a 9% stock surge — a rare move for a usually steady performer. New analyst Northcoast slapped it with a “Buy” rating and a $2...

Range Resources’ stock tumbled 3.7% as analysts slashed price targets amid falling natural gas prices — but the market’s rebound in gas futures, fueled by hot weather, rising LNG exports, and European demand, hints at underlying strength. Though the move was unusual for the typically stable stock, it signals market focus. While the company’s price is down from its March peak, a five-year view show...

Herc Holdings surged over three percent yesterday, riding a wave of sector optimism sparked by competitor EquipmentShare’s upbeat forecast and share buyback announcement. The uptick was further fueled by Herc’s inclusion in key Russell value indexes, drawing in index funds and traders. Though the stock cooled slightly by day’s end, it still closed higher. While the move is notable, Herc’s stock re...

Apple sues OpenAI, accusing two former Apple engineers of stealing trade secrets to fuel OpenAI’s AI hardware ambitions — claiming their new ventures are built on stolen IP and calling the situation “rotten to its core” as the tech giant vows to protect its innovations in the escalating AI race. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DN...