New York retailer Walmart flags fuel cost squeeze

 

NEW YORK — Walmart reported its first-quarter 2026 results on Tuesday, warning that surging fuel costs tied to the war in Iran are squeezing American consumers and its own margins. The retailer said U.S. comparable sales rose 4.1%, slightly above Wall Street expectations of 4.0%, while adjusted earnings per share...

United States: SpaceX files record-setting IPO prospectus

 

SpaceX, the privately held U.S. rocket and satellite company led by Elon Musk, has filed an IPO prospectus with the U.S. Securities and Exchange Commission that could become the largest initial public offering in history. Made public on Wednesday, May 20, 2026, the S-1 indicates SpaceX is targeting up to...

U.S. Moves to Promote Deep-Sea Mining Industry Rapidly

 

Washington. In the year since President Donald Trump signed an executive order to develop a U.S. deep-sea mining industry, businesses have raised millions, stock prices climbed, and federal regulators accelerated a permitting process as at least nine companies entered talks for access to seabed minerals across areas from American Samoa...

US Retailers and Manufacturers Report Mixed Quarterly Results

 

Raleigh, North Carolina — On Thursday Advance Auto Parts reported first-quarter net income of $24 million, or $0.39 per share, with adjusted earnings of $0.77 and revenue of $2.61 billion, topping analyst estimates; the company issued full-year earnings guidance of $2.40 to $3.10 per share and revenue guidance of $8.49...

SpaceX files S‑1, seeks record-breaking $1.75 trillion valuation

 

Austin, Texas. SpaceX filed an S‑1 with the U.S. Securities and Exchange Commission this week, disclosing for the first time that the company generated $18.7 billion in revenue in 2025 and is preparing an initial public offering that could value the company as high as $1.75 trillion and seek up...

United States software firm Intuit cuts 3,000 jobs

 

United States-based Intuit, the financial software company behind TurboTax, QuickBooks and other popular accounting and tax-preparation tools, is cutting 3,000 jobs as part of a restructuring tied to its artificial intelligence initiatives. The company is reorganizing its workforce to emphasize AI development and automation across its product lines, reflecting a...

Meta Starts Major Layoffs, Reassigns Staff To AI Units

 

San Francisco: On May 20, Meta began laying off about 8,000 employees—approximately 10% of its workforce—and announced that roughly 7,000 staff would be reassigned into four newly created AI-focused organizations; LinkedIn also announced cuts affecting over 600 positions as part of broader industry restructuring tied to increased AI investment. Employees received...

Iridex Reports First Quarter 2026 Loss, Mixed Results

 

Mountain View, California — On May 19, 2026, Iridex Corporation reported a $524,000 net loss for the first quarter ended April 4, 2026, and revenue of $11.8 million. The Mountain View-based medical laser manufacturer disclosed a loss of three cents per share and released its quarterly figures this week. Company filings...

US Firms Announce Presentations, Financings, Dividends, and Buybacks

 

United States — This week multiple publicly traded companies announced investor presentations, capital actions, and shareholder-return programs. On May 19 and May 21, Rexford Industrial and Iovance scheduled investor conference presentations on June 3 and June 4 respectively; Co‑Diagnostics filed an at‑the‑market private placement on May 19; First US declared...

United States trust sues Swan Bitcoin for $1B

 

United States – The PCT Litigation Trust overseeing the bankruptcy of crypto custodian Prime Trust has filed a lawsuit in Delaware bankruptcy court seeking nearly $1 billion from Swan Bitcoin and its parent company, Electric Solidus. The trust alleges Swan used non-public information to execute a last-minute, coordinated withdrawal of...