Norwegian Cruise Lines Removes Antarctica from Itineraries, Leaving Passengers Furious
Norwegian Cruise Lines has left passengers furious after removing Antarctica from the upcoming itineraries of its ship, the Norwegian Star, at the last minute. The decision has sparked uproar among affected passengers, with many expressing frustration and anger over the unexpected change.
Occidental Petroleum Corp Reports Strong Fourth Quarter for 2023
Occidental Petroleum Corp (OXY) has reported a strong fourth quarter for 2023, with key financial highlights reflecting operational performance and strategic growth. The company achieved a net income of $1.0 billion, or $1.08 per diluted share, and an adjusted net income of $710 million, or $0.74 per diluted share. Production exceeded guidance with 1,234 Mboed, and OxyChem Performance saw pre-tax income of $250 million, surpassing expectations. The quarterly dividend was raised by 22% to $0.22 per share, and strategic acquisitions, including the CrownRock acquisition and the Carbon Engineering acquisition, have enhanced the company’s onshore portfolio and supported low-carbon initiatives. Occidental’s proved reserves grew to 4.0 billion BOE with a reserves replacement of 137%. Operational excellence was a key driver of Occidental’s financial success, with operating cash flow reaching $3.2 billion and cash flow from operations before working capital at $2.5 billion. Despite challenges such as lower domestic crude oil prices and higher lease operating expenses, the company’s worldwide production exceeded expectations, demonstrating operational resilience and a strategic asset base. The oil and gas segment reported a pre-tax income of $1.6 billion for the quarter. Occidental’s strategic growth was underscored by the acquisition of CrownRock, which enhances its U.S. onshore portfolio with premier Permian Basin assets, and the acquisition of Carbon Engineering, supporting low-carbon initiatives. These moves are significant for the company’s long-term growth and shareholder value.
Meta Platforms Inc. Adds Two New Members to Board of Directors
Meta Platforms Inc. appoints Hock E. Tan and John Arnold to its board of directors, following the departure of Sheryl Sandberg. CEO Mark Zuckerberg expresses excitement about the expertise Tan and Arnold bring, particularly in silicon and energy infrastructure, crucial for Meta’s long-term vision, including the development of artificial general intelligence. With the addition of Tan and Arnold, Meta’s board now comprises 11 members, including Sandberg, who is set to step down at the company’s annual shareholder meeting in May. Prior to joining Meta’s board, Tan had collaborated with the company in his capacity at Broadcom, while Arnold has been involved in criminal justice reform initiatives, aligning with Zuckerberg’s investment company, CZI.
Albemarle Posts Better-Than-Expected Quarterly Profit Despite Weak Lithium Prices
Albemarle, the world’s largest lithium producer, has reported a better-than-expected adjusted quarterly profit despite weak lithium prices. The company’s aggressive cost-cutting measures have helped offset the plunging prices for the metal used in electric vehicle batteries. Despite the challenges posed by weak lithium prices, Albemarle has indicated its commitment to continue funding its Arkansas direct lithium extraction project.
SoundHound AI Inc (SOUN) Stock Faces Significant Decrease
SoundHound AI Inc (SOUN) stock has seen a -37.40% decrease over the past year, but Wall Street analysts still rate it as a Strong Buy. With a recent increase of 3.74%, outperforming the S&P 500, investors are advised to stay informed about market news and movements.
Twilio Inc. downgraded by HSBC from ‘Hold’ to ‘Reduce’
Twilio Inc. (NYSE:TWLO) has been downgraded by HSBC from a ‘Hold’ rating to ‘Reduce,’ with the firm also lowering its price target for the company’s shares. HSBC shifts its valuation approach for Twilio from Price to Sales (P/Sales) to Price to Earnings (P/E) ratio, citing a lower growth rate and steep valuation compared to similar companies. Analysts project continued losses through 2028, and warn of downside risk if investor sentiment shifts towards stricter adherence to GAAP metrics.
Donna Kelce collaborates with Annie’s Barn to raise funds for elementary school kids
Donna Kelce, mother of NFL players Travis Kelce and Jason Kelce, collaborates with small business Annie’s Barn to raise funds for elementary school kids in Kansas by allowing her famous cookie recipe to be printed on mugs. Each sale of the $18 ‘Mama Kelce’s Cookies’ mug contributes $5 to paying off elementary school lunch debt, raising a total of $4,100 so far. Kelce’s support for this cause has made a meaningful impact in addressing the school meal debt crisis.
Cisco Systems Inc. Reports 6% Annual Revenue Fall in Q2 2024
Cisco Systems Inc. reported a 6% annual fall in revenue for the second quarter of fiscal year 2024, reaching $12.8 billion, slightly above expectations. CEO Chuck Robbins commented on the solid performance and future growth opportunities, but Cisco’s shares dropped by 5% in after-hours trading.
Pizza Hut Introduces ‘Goodbye Pies’ for Valentine’s Day Breakups
Pizza Hut introduces ‘Goodbye Pies’ featuring their new Hot Honey pizza, offering a unique and lighthearted way to navigate breakups during the emotionally charged Valentine’s season. With personalized custom packaging and a chance to send a free Goodbye Pie, Pizza Hut aims to deliver spicy news in the sweetest way for Valentine’s Day.
White Castle Valentine’s Day Event
White Castle is bringing back its tradition of transforming their dining rooms into fine dining establishments for Valentine’s Day, with hostess seating, tableside service, and festive holiday décor. Participating restaurants in and around Macomb, Oakland, and Wayne counties will be taking part in the special event on Feb. 14.