Keep pulling the thread on Closing Bell.
Allbirds announced it would pivot its business from footwear to AI compute infrastructure.
Allbirds secured a $50 million convertible financing facility to fund its pivot to AI.
Snap is laying off approximately 1,000 full-time employees, representing 16% of its global workforce.
Snap's CEO stated that recent job cuts and reduced hiring will lower the company's annualized cost base by over $500 million by the second half of the current year.
A New York federal jury found that Live Nation Entertainment illegally monopolized the live events industry and overcharged fans.
The federal jury found that Live Nation illegally tied the use of its company-owned venues to its concert promotion services.
Shares of BRP Inc. closed down by more than 35% on the day.
BRP Inc. withdrew its financial outlook for the 2027 fiscal year.
BRP Inc. stated it faces $363 million in costs due to recent tariff changes made by the Trump administration.
The S&P 500 index reached a record high on the day of the broadcast.
The NASDAQ 100 index had risen for 11 consecutive days.
Brent Schuttie of Northwestern Mutual Wealth Management believes the stock market is getting ahead of itself.