Latest news with #ChengXin
Black America Web
3 days ago
- Business
- Black America Web
Poll Shows Companies Maintaing DEI Intiatives Have Better Reputations
Source: Cheng Xin / Getty In news surprising to absolutely no one, it turns out companies that have walked back their diversity, equity, and inclusion (DEI) initiative have suffered measurable reputational damage with consumers. According to a poll conducted by Axios, companies that maintained their DEI policies saw their reputational scores actually increase. The scores are based on metrics that measure 'trust, culture, ethics, citizenship, vision, growth, and products and services.' Of the 100 companies centered in the poll, there was an average reputation decline of 2.34 points. A common trait shared by the companies that received these declines is that they walked back their commitments to DEI initiatives. The majority of these withdrawals came as a result of the Trump administration's ongoing assault against anything it sees as DEI. Yet notably, companies such as Costco and Microsoft, which have held their ground on their DEI commitments, saw their reputations increase at an average of 1.5 points. These results come as a recent Pew Research poll shows that the majority of Americans still believe DEI initiatives are good for the workplace. As I said in the headline, this news really isn't that surprising if you've been paying even the slightest amount of attention over the last several months. Target has really committed itself to being a corporate lolcow this year, as its steps to wind back its DEI initiatives have blown up spectacularly in its face. In fact, let's speed run through how bad this has gone for Target. Almost as soon as the company announced it would be rolling back its DEI initiatives, consumer boycotts began in earnest. Initially, there was anecdotal evidence of their effect as foot traffic had been noticeably down in Target stores in the weeks following the boycotts. The impact was so bad that the company reached out to Rev. Al Sharpton to help figure out how they could rebuild trust with the Black community. Source: picture alliance / Getty Target's 2025 woes were compounded during an earnings call in late May, where they revealed a 2.8 percent decrease in sales in the wake of the boycotts. This didn't help the continuous decline of Target's stock price, with shares dropping 3.5 percent after they revealed the sales dip. Target was one of the companies included in Axios' poll, and its reputation went down by five percentage points and was listed in the bottom 25 percent when it came to ethics. Meanwhile, Costco's been out here big stepping with that 'I ball too hard, my girl too bad, my money too tall'-type energy. Shareholders overwhelmingly voted to keep their current DEI measures intact, and consumers seem to have noticed. Last week, Costco revealed that its earnings and revenue increased eight percent over the last quarter. Just speaking for myself and my family, the money that we would usually spend on a Target run has instead been redirected to Big Kirkland, and I wouldn't be surprised if that was true of many Black households throughout the country. Target's ongoing woes have proved to be a warning sign for a significant number of American retailers. Companies such as Walmart and Home Depot listed consumer boycotts as a potential risk in their annual regulatory filings. The numbers don't lie; withdrawing from DEI initiatives has proven to be a bad business. Here's hoping American companies finally take the hint (they won't, though, let's be real). SEE ALSO: They Scared: Target, Walmart Warn Investors About Consumer Boycotts Affinity Graduations Canceled Amid Trump's DEI Crackdown Surprise! Poll Shows Companies Maintaing DEI Intiatives Have Better Reputations was originally published on
Black America Web
3 days ago
- Business
- Black America Web
Surprise! Poll Shows Companies Maintaing DEI Intiatives Have Better Reputations
Source: Cheng Xin / Getty In news surprising to absolutely no one, it turns out companies that have walked back their diversity, equity, and inclusion (DEI) initiative have suffered measurable reputational damage with consumers. According to a poll conducted by Axios, companies that maintained their DEI policies saw their reputational scores actually increase. The scores are based on metrics that measure 'trust, culture, ethics, citizenship, vision, growth, and products and services.' Of the 100 companies centered in the poll, there was an average reputation decline of 2.34 points. A common trait shared by the companies that received these declines is that they walked back their commitments to DEI initiatives. The majority of these withdrawals came as a result of the Trump administration's ongoing assault against anything it sees as DEI. Yet notably, companies such as Costco and Microsoft, which have held their ground on their DEI commitments, saw their reputations increase at an average of 1.5 points. These results come as a recent Pew Research poll shows that the majority of Americans still believe DEI initiatives are good for the workplace. As I said in the headline, this news really isn't that surprising if you've been paying even the slightest amount of attention over the last several months. Target has really committed itself to being a corporate lolcow this year, as its steps to wind back its DEI initiatives have blown up spectacularly in its face. In fact, let's speed run through how bad this has gone for Target. Almost as soon as the company announced it would be rolling back its DEI initiatives, consumer boycotts began in earnest. Initially, there was anecdotal evidence of their effect as foot traffic had been noticeably down in Target stores in the weeks following the boycotts. The impact was so bad that the company reached out to Rev. Al Sharpton to help figure out how they could rebuild trust with the Black community. Source: picture alliance / Getty Target's 2025 woes were compounded during an earnings call in late May, where they revealed a 2.8 percent decrease in sales in the wake of the boycotts. This didn't help the continuous decline of Target's stock price, with shares dropping 3.5 percent after they revealed the sales dip. Target was one of the companies included in Axios' poll, and its reputation went down by five percentage points and was listed in the bottom 25 percent when it came to ethics. Meanwhile, Costco's been out here big stepping with that 'I ball too hard, my girl too bad, my money too tall'-type energy. Shareholders overwhelmingly voted to keep their current DEI measures intact, and consumers seem to have noticed. Last week, Costco revealed that its earnings and revenue increased eight percent over the last quarter. Just speaking for myself and my family, the money that we would usually spend on a Target run has instead been redirected to Big Kirkland, and I wouldn't be surprised if that was true of many Black households throughout the country. Target's ongoing woes have proved to be a warning sign for a significant number of American retailers. Companies such as Walmart and Home Depot listed consumer boycotts as a potential risk in their annual regulatory filings. The numbers don't lie; withdrawing from DEI initiatives has proven to be a bad business. Here's hoping American companies finally take the hint (they won't, though, let's be real). SEE ALSO: They Scared: Target, Walmart Warn Investors About Consumer Boycotts Affinity Graduations Canceled Amid Trump's DEI Crackdown SEE ALSO Surprise! Poll Shows Companies Maintaing DEI Intiatives Have Better Reputations was originally published on Black America Web Featured Video CLOSE
Yahoo
07-05-2025
- Business
- Yahoo
Electronic Arts Stock Gets Lift From Sports Offerings, New 'Battlefield' Game
Cheng Xin / Getty Images Key Takeaways Electronic Arts beat fiscal fourth-quarter profit and sales estimates on high demand for its sports offerings. The video game maker also looked to benefit from a summer release of a new "Battlefield" game. JPMorgan and Oppenheimer raised their price targets on the stock following the report. Electronic Arts (EA) shares gained Wednesday, a day after the video game maker posted better-than-expected results as it got a boost from demand for its sports portfolio. It also said it anticipates future gains from a new "Battlefield" game. The company reported fiscal fourth-quarter earnings per share of $0.98, revenue that rose nearly 7% year-over-year to $1.90 billion, and net booking that increased 8% to $1.80 billion. All surpassed the average estimate of analysts surveyed by Visible Alpha. CEO Andrew Wilson noted that the number of players on its American Football franchises Madden NFL and College Football increased by a double-digit percentage, hours played jumped 68%, and net bookings soared more than 70% to more than $1 billion. Its soccer franchise FC Mobile saw new player acquisition and Daily Active Users (DAU) more than 20% higher. Wilson explained that EA remains "firmly on track for a FY26 release" of the next "Battlefield," adding that the company plans "a major global reveal later this summer." EA sees fiscal 2026 net bookings between $7.60 billion and $8.00 billion, while the Visible Alpha outlook was for $7.83 billion. Following the release, analysts at both JPMorgan and Oppenheimer raised their price targets on the stock. Shares of Electronic Arts rose less than 2% to trade at their highest level in about five months. TradingView Read the original article on Investopedia
Yahoo
06-05-2025
- Business
- Yahoo
Top Stock Movers Now: Vertex, DoorDash, Constellation Energy, and More
Cheng Xin / Getty Images Key Takeaways U.S. equities dropped at midday as the markets awaited any news on tariffs and tomorrow's Fed decision. Higher costs and issues with Russia led Vertex Pharmaceuticals to miss profit and sales estimates. Constellation Energy beat revenue forecasts and reiterated its full-year earnings guidance on strong artificial intelligence energy demand. U.S. equities were lower at midday as the market watched for any possible deals involving Trump administration tariffs and awaited tomorrow's statement from the Federal Reserve policymakers following their two-day meeting. The Dow Jones Industrial Average, S&P 500, and Nasdaq all fell. Vertex Pharmaceuticals (VRTX) shares plunged after the biotech firm missed profit and sales estimates on higher costs and issues with sales in Russia. Shares of DoorDash (DASH) slumped when the food-delivery service missed revenue estimates and made a pair of acquisitions, including a $3.9 billion purchase of British firm Deliveroo. Coterra Energy (CTRA) shares slid when the oil and gas producer said it was cutting back on capital spending because of macroeconomic uncertainty and the falling price of oil. Constellation Energy (CEG) was the best-performing stock in the S&P 500 when the nuclear power provider easily exceeded revenue forecasts and held its full-year profit outlook steady on rising demand for energy from artificial intelligence (AI) applications. Shares of Ford Motor (F) advanced as the carmaker said auto tariffs won't cause a significant increase in the price of new vehicles. Leidos Holdings (LDOS) shares jumped after the defense and technology firm posted better-than-anticipated results as security and defense contracts grew. Oil and gold futures gained. The yield on the 10-year Treasury note was basically unchanged. The U.S. dollar lost ground to the euro, pound, and yen. Prices for most major cryptocurrencies were mixed, with bitcoin ticking higher. TradingView Read the original article on Investopedia
Yahoo
06-05-2025
- Business
- Yahoo
Vertex Pharmaceuticals Stock Sinks as Costs Soar
Cheng Xin / Getty Images Key Takeaways Vertex Pharmaceuticals missed first-quarter profit and revenue forecasts as costs jumped. The biotech firm also posted a decline in sales outside the U.S. because of intellectual property rights violations in Russia. Vertex raised the lower end of its 2025 guidance as it sees higher demand for its cystic fibrosis treatments. Shares of Vertex Pharmaceuticals (VRTX) slumped 12% Tuesday, a day after the biotech firm reported worse-than-expected results as costs increased. Vertex posted first-quarter adjusted earnings per share of $4.06, with revenue rising 3% year-over-year to $2.77 billion. Analysts surveyed by Visible Alpha were looking for $4.19 and $2.83 billion, respectively. U.S. revenue grew 9% to $1.66 billion in part because of higher prices. However, outside the U.S. revenue dropped 5% to $1.11 billion because of a decline in sales in Russia, where the company said it is "experiencing violation of its intellectual property rights." Total expenses skyrocketed nearly 40% to $2.14 billion, which Vertex blamed mostly on "continued R&D investment in support of multiple mid- and late-stage clinical development programs and increased commercial investment to support the launch of JOURNAVX," its non-opioid pain medicine. In addition, it also had a $379.0 million intangible asset impairment charge associated with its experimental diabetes treatment VX-264, which it won't be advancing for additional clinical development. Vertex raised the low end of its full-year revenue guidance to $11.85 billion from $11.75 billion as it sees continued growth in demand for its cystic fibrosis drugs, including the recently launched Alyftrek. The company did not change its upper end outlook of $12.0 billion. Even with today's slide, shares of Vertex Pharmaceuticals are up almost 10% in 2025. TradingView Read the original article on Investopedia
