On the heels of IMAX’s (IMAX) strong second quarter earnings report, CEO Richard Gelfond is more than confident that the movies are back in business. “It’s not just that the movies are back — they’re back for different age groups,” Gelfond told Yahoo Finance Live in a new interview, referencing the wide variety of available content. “Doctor Strange in the Multiverse of Madness,” “Top Gun: Maverick” and “Jurassic World: Dominion” helped lift overall box office performance in the second… Source link

A Chicago restaurant owner is speaking out after the city yanked his license amid a battle over whether the place was an eatery or a nightclub. Fox Chicago reports Rashad Bailey opened Dinner and a Movie last year in Chicago’s Lincoln Park. The establishment served waffles, alcohol, movies and music catering to class reunions and birthday parties in a celebration of Black love and gatherings according to Bailey. However, the location has been littered with complaints from neighbors about the… Source link

Housing correction is ‘dead ahead,’ warns Moody’s chief economist Mark Zandi — here’s how he sees things playing out over the next several months Existing home sales showed a 5.4% decline in June from May, but prices remain elevated, according to the National Association of Realtors. The median sale price of existing homes in the U.S. set a new record high of $416,000 in June, marking a 13.4% increase from a year ago. Yet for those continuing to watch these rising home prices, chief… Source link

Target stock could stay in the penalty box as the retailer aggressively sells slow-moving inventory and industry discounting picks up amid the economic slowdown, Jefferies analyst Stephanie Wissink warns. Wissink, citing “profit warnings from peers & suppliers and pressure on discretionary wallets,” slashed her EPS estimates on Target for the balance of 2022 and 2023 in a new note on Monday. “The cut to our model appears drastic at face value, fully discounting Target’s ability to bounce back… Source link

The design of the experience was inspired by nostalgic, throwback car wash elements such as shimmery plastic strip curtains, spinning buffers, and retro signage.Photo: Courtesy of SuperflyWhile most brands activate around LGBTQIA+ rights in June to commemorate the 1969 Stonewall riots in New York City, Yahoo is celebrating all summer long as part of its “Let’s Glow” campaign. After kicking off during Pride month in Washington, D.C. on June 12, Yahoo has plans to pop up at other Pride… Source link

Another day, another training camp practice for the entire league. Some of the biggest questions were answered this week, especially for Seattle Seahawks wideout D.K. Metcalf, who signed a three-year, $72 million deal Thursday. There are few major deals left on the table, though, including San Francisco 49ers receiver Deebo Samuel, Cincinnati Bengals safety Jessie Bates and Los Angeles Chargers safety Derwin James. Another safety, Bills’ Micah Hyde, avoided major injury this week after… Source link

Intel CEO Pat Gelsinger has tasked his team with finding new cost savings as the chip giant tries to battle back from a challenging second quarter while also rebuilding the company for the future. “This is a time for a bit of austerity,” Gelsinger told Yahoo Finance on Friday (video above). “We had stuff we created over the last decade that needed to be cleaned up. It helps drive a more accelerated pace to the transformation we have under way.” Gelsinger told investors on the company’s second… Source link

Ken Griffin — who needs him? Nobody at the announcement last week of Google taking over the Thompson Center uttered anything close to that sentiment, but it hung in the air of the building’s atrium as Gov. J.B. Pritzker and others paraded to a podium to heap praise on Chicago’s new BBF — best business friend. Joining the governor were… Source link

Errol Musk, left, the father of the tech billionaire Elon Musk.GIANLUIGI GUERCIA / AFP) (Photo by GIANLUIGI GUERCIA/AFP via Getty Images/Dimitrios Kambouris/Getty Images for The Met Museum/Vogue Elon Musk’s father, Errol, said on an Australian radio show he wasn’t proud of his billionaire son alone. Errol said the family had done “a lot of things,” though he added Elon had “really surpassed the mark.” Errol said Elon’s younger brother, Kimbal, was his “pride and joy.” Elon Musk’s dad has said he… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, August 1, 2022 Today’s newsletter is by Brian Sozzi, an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. This earnings season feels toxic: seemingly one word away from everything falling apart at any given time. And that underlying volatility, friends, is why it’s a terrible time right now… Source link