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Dollar Tree — Shares of the discount retail chain popped 1% following an upgrade to overweight from neutral at JPMorgan. SoFi Technologies — Shares of the financial services provider surged 21% after the company reported its fourth-quarter financial results. ZoomInfo Technologies — Shares jumped more than 6% after Bank of America upgraded shares to buy from neutral on revenue growth acceleration. The firm cited tailwinds including improving market share and volume trends, as well as an attractive valuation and strong top-line growth. Flywire — Shares of the fintech company gained 3.75% after being upgraded by Morgan Stanley to overweight from equal weight.
Persons: McGrath RentCorp, McGrath, SoFi, iRobot, Koji Ikeda, Wells, Flywire, Morgan Stanley, Beam, , Samantha Subin, Yun Li, Michelle Fox, Alex Harring, Lisa Kailai Han, Sarah Min, Pia Singh, Tanaya Macheel Organizations: WillScot Mobile, JPMorgan, Wall, Amazon, Bain Capital, Western Digital, Kioxia Holdings, Bloom Energy, Bank of America, ZoomInfo, Hershey —, AllianceBernstein, Warner Bros, , Beam Locations: Japan, AATD
LONDON (AP) — Amazon called off its purchase of robot vacuum maker iRobot on Monday, blaming “undue and disproportionate regulatory hurdles" after the European Union signaled its objection to the deal. The deal faced antitrust scrutiny on both sides of the Atlantic, but most strongly in Europe, where regulators investigating competition concerns were expected to issue a final decision by Feb. 14. Amazon announced in 2022 that it would buy iRobot, maker of the circular-shaped Roomba vacuum, for $1.7 billion in cash. Political Cartoons View All 253 ImagesWhile British antitrust regulators cleared the purchase in June, it also still faced scrutiny in the U.S. by the Federal Trade Commission. This is the latest example of a deal involving U.S. companies that fell apart after facing scrutiny from European regulators.
Persons: iRobot, David Zapolsky, Amazon’s, Colin Angle, Glen Weinstein, Haleluya Hadero Organizations: European Union, Amazon, European Commission, Federal Trade Commission, U.S, Adobe, Biotech, ___ AP Locations: European, Europe, Bedford , Massachusetts, U.S, EU, New York
CNN —Amazon and iRobot, the maker of the popular Roomba vacuum, mutually called off their estimated $1.7 billion acquisition deal Monday, citing numerous regulatory hurdles. Amazon (AMZN), which was up about 0.5% in noon trading, will pay iRobot a previously agreed-upon $94 million cancellation fee. IRobot said the restructuring plan, impacting around 350 employees, is intended to save the company up to $150 million. In November, the European Commission said the deal could hamper competition in the robot vacuum sector. Earlier this month, the Wall Street Journal reported that the European Commission planned to block the deal.
Persons: iRobot, Colin Angle, Glen Weinstein, IRobot, , ” Andrew Miller, iRobot’s, ” David Zapolsky, Lina Khan, , Meta Organizations: CNN, European, Federal Trade, European Union, European Commission, Wall Street Journal, Amazon, Federal Trade Commission, Commission, Amazon . Tech, Adobe, EU, UK, Nvidia, UK’s Competition, Markets Authority, Activision Blizzard, CMA Locations: Europe
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Amazon's announced in 2022 that it would buy iRobot, maker of the circular-shaped Roomba vacuum, for $1.7 billion in cash. Amazon will pay the Bedford, Massachusetts-based company a previously agreed termination fee, which wasn't disclosed in the statement Monday. AdvertisementThe European Commission, the European Union's executive arm and top antitrust enforcer, had informed Amazon last year of its "preliminary view" that the acquisition of the robot vacuum maker would be anticompetitive. Now that the deal has been called off, iRobot said it will undergo a restructuring plan designed to stabilize the company.
Persons: , Amazon's, wasn't, iRobot, David Zapolsky, Colin Angle, Glen Weinstein Organizations: Service, Business, Amazon, European Commission, Federal Trade Commission Locations: Bedford , Massachusetts, U.S
Amazon said on Monday that it was abandoning plans to buy iRobot, the maker of the self-driving Roomba vacuum, after regulators raised concerns the deal would hurt competition. antitrust regulators warned Amazon that they might try to block the deal because it could restrict competition in the market for robot vacuum cleaners. The Federal Trade Commission was also scrutinizing the deal. Amazon, which will pay iRobot a $94 million termination fee, said in a statement that “disproportionate regulatory hurdles” caused it to step away from the deal, which was first announced in 2022. IRobot’s products, which also include robotic mops and air purifiers, were to join a growing list of connected home products made by Amazon, including Ring home security systems and Echo smart speakers.
Organizations: Amazon, Foods, MGM Studios, European Union, Federal Trade Commission Locations: E.U
Learn moreFrom soft-yet-durable sheets to powerful vacuums, the Insider Reviews team rigorously tests and reviews a wide variety of items for the home. We interview industry experts and do extensive research and testing to review the best lawn mowers, best paint, best drills, and more. James Brains/InsiderAdvertisementHow we test home productsWe test home products by using them every day for weeks and months. We test products as professionals to evaluate how each item meets industry standards, but we don't stop there. Her work spans from scoping out the best candles to meticulously evaluating the best vacuums.
Persons: Bissell, Dyson, We've, James Brains, he's, Lauren Savoie, Lauren Savoie Lauren, Lauren, She's, Jaclyn Turner, Jaclyn Turner Jaclyn, Jaclyn, James Brains James, Casper, James, Organizations: Morning America, CBS Money Watch, Poynter, Leadership Academy, Women in Media, Insider, Homes & Gardens, Real Homes, Journalism, Studies, University of Maryland, College Park, Service Locations: Casper, Brooklinen, Bath, Real, Atlanta
We rigorously test hundreds of products every year to find the best kitchen products. Cookware: From the best cast iron skillets to cookware sets, the Business Insider Reviews team uses product-specific sets of benchmark tests to recommend the best cookware on the market. Molly Allen/InsiderWe test kitchen products by using them every day for weeks — and often months — under real-life circumstances in our homes and kitchens. Lily Alig, editor Lily Alig Lily is an editor on the Business Insider Reviews team, covering the home and kitchen verticals. In addition to being Business Insider Reviews' mattress expert, James has extensively covered vacuums, air conditioners, air purifiers, and more within the HVAC space.
Persons: mixologists, Molly Allen, we've, fryer, Lauren Savoie, Lauren Savoie Lauren, Lauren, Lily Alig, Lily Alig Lily, Lily, James Brains, James Brains James, Casper, James, Dyson Organizations: Poynter, Leadership Academy, Women in Media, Business
Amazon 's Ring will no longer allow police to request users' doorbell video footage in its neighborhood watch app. Ring in 2021 made police requests for user footage public in its Neighbors app. Previously, law enforcement could message users privately to request clips from their smart doorbell cameras. Jamie Siminoff, Ring's former CEO, couched the features as a public safety tool that would help communities. "My goal would be to have every law enforcement agency on the police portal," Siminoff told CBS in 2019.
Persons: Ring, Erik Kuhn, Sen, Ed Markey, Jamie Siminoff, Siminoff, Elizabeth Hamren, Kuhn Organizations: Amazon, Police, Privacy, CBS, Microsoft Locations: Seattle
This is Wayfair's third restructuring since summer 2022, and it is expected to save the company about $280 million. The bank said Hertz's short-term profitability would be hampered by electric vehicle repair costs, rising operating expenses and vehicle depreciation. Spirit Airlines — Shares surged more than 20% after the budget airline raised its fourth-quarter forecast . Schlumberger reported adjusted earnings of 86 cents per share on $8.99 billion of revenue, higher than the 84 cents per share on $8.95 billion of revenue expected by analysts surveyed by LSEG. Celsius Holdings — Shares of the drink company slid more than 10% following a downgrade to neutral from buy at Bank of America.
Persons: Hertz, Wells Fargo, bullishness, Goldman Sachs, — CNBC's Michelle Fox, Alexander Harring, Tanaya Macheel, Jesse Pound, Pia Singh, Samantha Subin Organizations: Jefferies, Spirit Airlines —, Spirit Airlines, iRobot, Amazon, Street, European Union, Texas, UBS, Nvidia, Semiconductor, Devices, Travelers Companies, LSEG, Schlumberger, Broadcom, Bank of America, State Locations: European
This is Wayfair's third restructuring since 2022 and is expected to save the company about $280 million. Hertz — Hertz shed 2.8% on a Jefferies price target cut and downgrade to hold from buy. AMD added 1.6%, after reaching its highest-ever closing price on Thursday amid increased investor interest in the second-largest standalone GPU maker. DraftKings — Shares of the sports betting company rose more than 1% after Stifel upgraded DraftKings to buy from hold. J.B. Hunt Transport Services – Shares rose more than 3% after the company posted mixed quarterly results.
Persons: Hertz, Wells, Stifel, J.B, J.B . Hunt, Macheel, Samantha Subin, Jesse Pound Organizations: Jefferies, EV, Spirit Airlines, JetBlue, Texas, UBS, Nvidia, AMD, ESPN Bet, Hunt Transport, LSEG
The lower end of PPG's range for full-year earnings guidance was also well below what analysts called for. On the other hand, the company's earning and revenue for the fourth quarter of 2023 topped what analysts had anticipated. Super Micro Computer — Shares of the information technology firm gained 6% after Super Micro Computer reported preliminary second-quarter adjusted earnings of between $5.40 and $5.55 per share, higher than its previous guidance of between $4.40 to $4.88 per share. Super Micro also reported a preliminary revenue of between $3.6 billion to $3.65 billion, topping its prior guidance of $2.7 billion to $2.9 billion. The Wall Street Journal reported late Thursday that the European Union's antitrust watchdog anticipates blocking Amazon's acquisition of iRobot.
Persons: Hunt, Kirk Tanner, Todd Penegor, iRobot Organizations: PPG Industries, Micro Computer, Micro, Hunt Transport, LSEG, Wendy's, PepsiCo, Blackwells, Street Journal
Shares of iRobot plunged more than 33% in extended trading on Thursday after a report said the EU's antitrust watchdog intends to block Amazon 's planned acquisition of the Roomba vacuum maker. A representative from the European Commission didn't immediately respond to a request for comment. The European Commission, the European Union's top antitrust enforcer, opened an in-depth probe into the purchase last July. The group warned the planned acquisition raises competition concerns, saying it found Amazon may hinder iRobot's rivals from competing on its online marketplace. Earlier this month, Politico reported Amazon doesn't plan to offer concessions to resolve the group's concerns about the acquisition.
Persons: vacuums, iRobot Organizations: Street Journal, European, Amazon, European Commission, Politico, U.S . Federal Trade Commission, Markets Authority Locations: San Rafael , California
U.S. stock futures oscillated near the flat line on Thursday night. S&P 500 futures ticked down by 0.03%, while Nasdaq 100 futures added 0.01%. The S&P 500 added 0.88%, while the Nasdaq Composite climbed 1.35%. The S&P 500 and the Nasdaq are now positive for 2024. The S&P 500 is marginally lower by 0.06%.
Persons: iRobot, Joe Biden, Dow, Thomas Martin, Ally Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Street Journal, European Commission, Dow, Bank of America, Apple, Tech, Treasury, Globalt Investments, Regions Financial, Ally Financial, State Street, Traders Locations: New York City . U.S
Shares of iRobot closed down 19% on Wednesday, after a report said Amazon will not offer concessions to Europe's antitrust watchdog in a bid to clear its planned $1.7 billion acquisition of the Roomba maker. Representatives from iRobot and the European Commission did not immediately respond to CNBC's request for comment. Shares of Amazon closed up 1.5% on Wednesday. The European Commission opened an in-depth probe into the purchase last July and is expected to rule on the deal by Feb. 14. Amazon announced its intention to acquire iRobot in August 2022 for $61 per share in an all-cash deal.
Organizations: Politico, European Commission, Amazon, iRobot, U.S . Federal Trade Commission, Markets Authority, CNBC PRO Locations: iRobot
The Commission's legal service did not think a statement of objections regarding the deal was warranted, in contrast with antitrust officials handling the case, the people said. Without such a charge sheet, the deal would have been cleared unconditionally. The lawyers subsequently changed their mind and backed antitrust officials' decision to send the charge sheet setting out their concerns, the sources said on condition of anonymity, declining to provide confidential details. Antitrust officials can override objections from the legal service by either tweaking or narrowing their concerns to get their backing or by appealing to the top officials. While Amazon might still gain unconditional approval to buy iRobot, the charge sheet indicates that officials are looking to remedies from the company to address their concerns.
Persons: Pascal, Foo Yun Chee, Richard Chang Organizations: Rights, European Commission, Antitrust, Reuters, EU, Google, Digital, Big Tech, Thomson Locations: Boves, France, Rights BRUSSELS
The concerns speak to ongoing worries over Amazon’s market clout – but if the deal collapses, it’s iRobot shareholders who will suffer more downward suction. The Commission, which is reviewing the deal alongside British and American merger cops, on Monday published its objections. If Amazon is thwarted, investors expect iRobot shares to fall to between $5 and $15. CONTEXT NEWSThe European Commission on Nov. 27 issued a statement of objections regarding Amazon.com’s proposed $1.4 billion acquisition of robot vacuum maker iRobot. iRobot shares fell more than 18% to close at $34.35 on Nov. 27.
Persons: Andrew Kelly, it’s, Carlyle, Amazon.com’s, Peter Thal Larsen, Aditya Sriwatsav Organizations: REUTERS, Reuters, iRobot, European Commission, British, EU, Amazon, Investors, Commission, Thomson Locations: Staten Island , New York City, U.S, American, Europe, United States, Seattle, iRobot
The European Commission warned that Amazon’s proposed deal for Roomba-maker iRobot may restrict competition. Photo: handout/ReutersThe European Commission said Monday that Amazon ’s proposed deal to buy Roomba-maker iRobot may limit competition in the robot vacuum cleaner market. European regulators said that they had informed Amazon of the commission’s preliminary view following an investigation of the proposed acquisition.
Persons: Amazon’s Organizations: European Commission, Amazon
Over the last few years, robot vacuums have become a go-to cleaning tool in many households. Today some of the best Cyber Monday deals on robot vacuums include discounts on top brands, such as iRobot Roomba, Shark, and Roborock. The best Cyber Monday deals on robot vacuumsRobot vacuum Cyber Monday deals FAQsDo robot vacuums go on sale for Cyber Monday? The best robot vacuum we've tested is the iRobot Roomba i3+ EVO. If you're interested in robot vacuums by Shark, check out our Shark AV911S EZ Vacuum Review.
Persons: Bissell, Dyson Organizations: Roomba Locations: Roborock
Shares of iRobot plunged as much as 19% on Monday after the EU's antitrust watchdog issued a warning that Amazon 's planned $1.7 billion acquisition of the Roomba maker raises competition concerns. "iRobot, which faces intense competition from other vacuum cleaner suppliers, offers practical and inventive products," the spokesperson said. iRobot shares were briefly halted earlier Monday afternoon following the announcement. Amazon shares were up about 1.4%. The commission's announcement comes after iRobot shares rocketed 39% on Friday after Reuters reported the deal is set to "win unconditional EU antitrust approval," citing three sources familiar with the matter.
Persons: vacuums, iRobot Organizations: European Commission, Amazon, CNBC, U.S . Federal Trade Commission, Markets Authority, iRobot, Reuters, EU Locations: San Rafael , California
The logo of Amazon is seen at the company's logistics centre in Boves, France, October 6, 2021 REUTERS/Pascal Rossignol/File Photo Acquire Licensing RightsBRUSSELS, Nov 27 (Reuters) - EU antitrust regulators said on Monday Amazon's (AMZN.O) $1.4 billion acquisition of robot vacuum maker iRobot (IRBT.O) may squeeze out rival robot cleaners on its online marketplace. The EU competition enforcer said Amazon's online marketplace is an important channel for robot vacuum cleaners (RVCs) in France, Germany, Italy and Spain. "iRobot, which faces intense competition from other vacuum cleaner suppliers, offers practical and inventive products. We believe Amazon can offer a company like iRobot the resources to accelerate innovation and invest in critical features while lowering prices for consumers," the company said. Reporting by Foo Yun Chee; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.
Persons: Pascal, Foo Yun Chee, David Evans Organizations: Rights, Amazon, Big Tech, European Commission, EU, Commission, Reuters, Thomson Locations: Boves, France, Rights BRUSSELS, Germany, Italy, Spain
European regulators said Monday that Amazon’s proposed acquisition of robot vacuum maker iRobot may harm competition. The European Commission, the European Union’s executive arm and top antitrust enforcer, said it has informed Amazon of its “preliminary view” regarding the deal following an investigation that began in July. The news raised investors' concerns about the acquisition, sending shares in Bedford, Massachusetts-based iRobot Corp., most famous for the circular-shaped Roomba vacuum, down more than 17% Monday. “IRobot, which faces intense competition from other vacuum cleaner suppliers, offers practical and inventive products,” Miller said. But British antitrust regulators cleared Amazon’s purchase of iRobot back in June.
Persons: Alexandra Miller, , ” Miller, iRobot Organizations: European Commission, iRobot Corp, Amazon, Federal Trade Commission Locations: Bedford , Massachusetts, France, Germany, Italy, Spain, Seattle, U.S
We can't deny that Dyson vacuums are highly effective and expensive, which is why we recommend looking out for sales. This is our budget-friendly pick in our guide to the best cordless vacuum cleaners, and it's at its lowest-ever price. The best Cyber Monday deals on upright vacuumsThe best Cyber Monday deals on handheld vacuumsThe best Cyber Monday stick vacuum dealsThe best Cyber Monday robot vacuum dealsCyber Monday vacuum FAQsIs Black Friday a good time to buy a vacuum? Cordless: Cordless vacuums are one of the most popular vacuum cleaners on the market, and their convenience makes it easy to see why. If you'd like to know more about handheld vacuums, check out our guide to the best handheld vacuums.
Persons: Dyson, Hoover, we've, Bissell Organizations: Dyson, Amazon, Black
Wall St ends mixed in truncated Black Friday trading
  + stars: | 2023-11-24 | by ( Stephen Culp | ) www.reuters.com   time to read: +4 min
The S&P 500 (.SPX) closed nominally higher, while the Dow (.DJI) eked out a modest gain. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Of the 11 major sectors in the S&P 500, nine ended with gains, led by healthcare (.SPXHC). The S&P 500 posted 23 new 52-week highs and no new lows; the Nasdaq Composite recorded 77 new highs and 51 new lows. Volume on U.S. exchanges was 4.97 billion shares, compared with the 10.49 billion average for the full session over the last 20 trading days.
Persons: Peter Cardillo, Cardillo, Brendan McDermid, decliners, Stephen Culp, Sruthi Shankar, Shristi, Richard Chang Organizations: Nvidia, Vista Outdoor, Colt, Dow, Nasdaq, Spartan Capital Securities, Retailers, U.S, Insider Intelligence, Commerce, New York Stock Exchange, REUTERS, PMI, Dow Jones, Communication, Reuters, Czech, Xpeng, Volkswagen, NYSE, Thomson Locations: China, New York, U.S, New York City, Bengaluru
Futures drift in shortened trading session
  + stars: | 2023-11-24 | by ( ) www.reuters.com   time to read: +3 min
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Futures: Dow up 0.23%, S&P climbs 0.11%, Nasdaq off 0.01%Nov 24 (Reuters) - U.S. stock index futures were largely muted on Friday in a shortened trading session for Thanksgiving, although Wall Street looked on course to extend its weekly winning run on optimism that U.S. interest rates have peaked. The benchmark S&P 500 (.SPX) is about 1% away from setting a new high for the year. U.S. stock markets were shut on Thursday for the Thanksgiving holiday and will open for a truncated session ending at 1:00 p.m. ET, Dow e-minis were up 80 points, or 0.23%, S&P 500 e-minis were up 5 points, or 0.11%, and Nasdaq 100 e-minis were down 2 points, or 0.01%.
Persons: Brendan McDermid, Joshua Mahoney, Sruthi Shankar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal, Walmart, Composite, Dow e, Nvidia, Reuters, Volkswagen, Thomson Locations: New York City, U.S, China, Bengaluru
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. The benchmark S&P 500 (.SPX) is about 1% away from setting a new high for the year. The S&P 500 retail sector (.SPXRT) sub-index was, however, down 0.4%. Advancing issues outnumbered decliners by a 1.61-to-1 ratio on the NYSE and by a 1.54-to-1 ratio on the Nasdaq. Reporting by Sruthi Shankar and Shristi Achar A in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Greg Bassuk, Sruthi Shankar, Shristi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Nvidia, Dow, Nasdaq, Federal, AXS Investments, Insider Intelligence, Composite, Dow Jones, Reuters, Czech, Colt CZ, Volkswagen, NYSE, Thomson Locations: New York City, U.S, China, New York, Bengaluru
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