
Seres Therapeutics: Q1 Earnings Snapshot
CAMBRIDGE, Mass. — CAMBRIDGE, Mass. — Seres Therapeutics Inc. (MCRB) on Wednesday reported first-quarter net income of $32.7 million.
On a per-share basis, the Cambridge, Massachusetts-based company said it had net income of $3.75. Losses, adjusted for non-recurring gains, came to $2.24 per share.

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Newsweek
an hour ago
- Newsweek
Kroger To Close 60 Stores Across US: What To Know
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Kroger announced plans to close 60 of its supermarkets across the United States over the next 18 months, representing about 5 percent of the Cincinnati-based company's 1,239 Kroger-branded grocery stores across 16 states. The popular grocery retailer revealed the closure plans while reporting first-quarter earnings on Friday but has not specified which store locations will be affected or released a list of impacted stores. Newsweek reached out to Kroger on Saturday via email for comment. Why It Matters Companies close store locations for various reasons. While shifts in consumer shopping behavior and lower demand can cause stores to close, corporations often choose to shutter underperforming locations. Sales dropped slightly to $45.1 billion compared to $45.3 billion for the same period a year earlier according to Kroger earnings data. The move comes as grocery retailers nationwide face mounting pressures from changing consumer habits, inflation, and increased competition from discount chains and online retailers. More than 2,500 store closures are planned across the U.S. this year, according to The Mirror. What To Know Kroger expects the 60 store closures to provide a modest financial benefit to the company, according to a regulatory filing. In the first quarter, Kroger recognized an impairment charge of $100 million related to the planned closings. The company indicated that resulting savings will be reinvested into customer experience initiatives across remaining locations. The closures affect Kroger's extensive footprint spanning 16 states, though the company has remained tight-lipped about specific locations. The grocery retailer told CBS MoneyWatch that it will not be releasing a list of the affected stores. This lack of transparency has left employees and customers uncertain about which communities will lose their local Kroger. However, Kroger says it is committed to supporting displaced workers. All employees at affected stores will be offered roles at other Kroger store locations, though details about relocation assistance or wage protection remain unclear. The timing coincides with broader challenges facing traditional grocery retailers. Many chains are grappling with rising operational costs, changing shopping patterns accelerated by the pandemic, and fierce competition from warehouse clubs, dollar stores, and e-commerce platforms. FILE - This June 17, 2014, file photo, shows a Kroger store in Houston. Kroger Co. FILE - This June 17, 2014, file photo, shows a Kroger store in Houston. Kroger Co. AP Photo/David J. Phillip What People Are Saying Kroger company statement: "As a result of these store closures, Kroger expects a modest financial benefit. Kroger is committed to reinvesting these savings back into the customer experience, and as a result, this will not impact full-year guidance." Director of Media Relations/Corporate Communications Erin Rolfes told Newsweek in an email response: "In the first quarter, Kroger recognized an impairment charge of $100 million related to the planned closing of approximately 60 stores over the next 18 months." Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, previously told Newsweek: "For some major retailers, 2025 is becoming a year of consolidation. Retail locations that have struggled in recent years to remain profitable due to rising costs and less demand are being shuttered, as companies focus their efforts on more successful stores. The hope is these closures will ultimately produce more fiscal and operational efficiency, but it will come at the cost of customers who favored these locations having fewer options." Michael Ryan, a finance expert and the founder of previously told Newsweek: "These aren't random casualties; they're strategic amputations of unprofitable limbs to save the corporate $15+ minimum wages to supply chain inflation, all crushing their razor-thin margins. Combine this with the march of e-commerce and changing consumer habits post-pandemic, physical retail becomes a luxury many companies can no longer afford." What Happens Next The 18-month closure timeline suggests Kroger will implement the plan gradually, though specific dates and locations remain undisclosed.


Time Business News
2 hours ago
- Time Business News
Shaping the Future of Leadership: The Strategic Role of C-Suite Executive Recruiters in NYC's Innovation Economy
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Yahoo
2 hours ago
- Yahoo
Mark Cuban Corrects Elizabeth Warren As She Slams JNJ, PFE For Higher Prices And Zero Taxes On Big Pharma: 'PBMs Corrupt Healthcare'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A heated debate over the U.S. healthcare system erupted on X, pitting billionaire entrepreneur Mark Cuban against Sen. Elizabeth Warren (D-Mass) over the root causes of soaring drug prices. What Happened: The clash, unfolding as of Friday, has reignited discussions on Pharmacy Benefit Managers (PBMs) and Big Pharma's tax practices, with the Senate poised to address reform amid rising public scrutiny. Enter Cuban, the Dallas Mavericks owner and founder of Cost Plus Drugs, who fired back with a pointed correction. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — In a post quoting Warren, Cuban argued that PBMs—not Big Pharma—are the true culprits behind inflated drug prices. 'PBMs corrupt healthcare,' he wrote, explaining that these intermediaries control formularies and manipulate prices to maximize rebate revenue, with three major PBMs negotiating over 90% of rebates for commercial insurance plans. Warren, in her post, had blamed pharmaceutical giants like Johnson & Johnson (NYSE:JNJ) and Pfizer Inc. (NYSE:PFE) for charging Americans the 'highest drug prices in the world' while paying 'zero dollars in federal taxes.' Citing data from her Senate Finance Committee role, Warren highlighted how these companies, alongside AbbVie Inc. (NYSE:ABBV), Amgen Inc. (NASDAQ:AMGN), and Merck & Co Inc. (NYSE:MRK), have exploited tax loopholes from the 2017 Tax Cuts and Jobs Act to shield billions in profits. 'Republicans want to make it worse. I'm fighting back,' she declared, sharing a CNBC headline and urging action against what she calls a 'rigged tax system.' Why It Matters: Cuban has been a critic of the healthcare system, saying that it should be simple. According to him, it's become overly complicated by big insurance companies and PBMs. These groups, he says, act as middlemen, controlling not just the costs but also the accessibility of care. He blames PBMs for lack of transparency, inflated specialty drug prices, rebate distortion, formulary restrictions, and 'Sh–ing on' on independent pharmacies. Some significant firms engaged in the PBM business listed in the U.S. include;Stocks YTD Performance One Year Performance CVS Health Corp. (NYSE:CVS) 51.15% 9.57% Cigna Group. (NYSE:CI) 14.54% -6.95% UnitedHealth Group Inc. (NYSE:UNH) -39.11% -36.60% Meanwhile, here is how some pharmaceutical sector ETFs have performed;Pharma ETFs YTD Performance One Year Performance VanEck Pharmaceutical ETF (NASDAQ:PPH) 1.69% -4.48% iShares US Pharmaceuticals ETF (NYSE:IHE) -0.49% -1.85% Invesco Pharmaceuticals ETF (NYSE:PJP) -3.23% -1.64% SPDR S&P Pharmaceuticals ETF (NYSE:XPH) -4.06% 2.61% KraneShares MSCI All China Health Care Index ETF (NYSE:KURE) 20.55% 22.94% First Trust Nasdaq Pharmaceuticals ETF (NASDAQ:FTXH) -5.44% -6.27% Direxion Daily Pharmaceutical & Medical (NYSE:PILL) -23.49% -14.63% The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were mixed in premarket on Friday. The SPY was down 0.30% at $595.67, while the QQQ was 0.015% higher at $529.07, according to Benzinga Pro data. Read Next: Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo courtesy: Shutterstock This article Mark Cuban Corrects Elizabeth Warren As She Slams JNJ, PFE For Higher Prices And Zero Taxes On Big Pharma: 'PBMs Corrupt Healthcare' originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data