Target’s New CEO, Tech Stocks Tank, and Robinhood Bets on Football
In today’s episode, Target tapped COO Michael Fiddelke as its new CEO, but shares sank 10% despite topping earnings expectations, highlighting the retailer’s struggle to keep traffic flowing. Tech stocks dragged the Nasdaq down 1.5% as all of the Magnificent Seven posted losses, while Bitcoin and Ethereum fell in tandem. President Trump escalated his tariff agenda, slapping new duties on more than 400 product categories, from auto parts to chemicals. Robinhood made a surprise move into sports with new football prediction markets aimed at its young trader base. Lowe’s outshined rivals with strong results and an $8.8 billion drywall supplier acquisition, while La-Z-Boy shares plunged 25% on weak guidance. Viking Therapeutics crashed 40% after its obesity drug showed high side effects, handing the edge to Eli Lilly and Novo Nordisk. And Air Canada ended a three-day flight attendant strike that disrupted travel for half a million passengers.
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