Walmart’s Strong Quarter, Meta Freezes AI Hiring, and ESPN Goes All-In on Streaming
In today’s episode, Walmart raised its full-year guidance after a strong second quarter, proving it can navigate tariff headwinds better than rivals like Target and Home Depot. The U.S. and EU unveiled details of a trade agreement that capped key tariffs at 15%, defusing rising tensions. Meta put a sudden freeze on its AI hiring spree after handing out $100 million signing bonuses to top researchers, sparking investor concerns. ESPN rolled out its first flagship streaming app, giving subscribers access to its full linear TV catalog and signaling a major pivot away from cable. Private equity firms swooped in on retail, with Claire’s selling most of its North American stores and Guess agreeing to a $1.4 billion buyout. McDonald’s cut combo meal prices after $18 Big Macs scared off diners. Newegg shares soared 24% after expanding its stock sale program, while Hertz struck a deal with Amazon to sell used rental cars online.
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