🚀 Target shares down 9% as new CEO announced

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Target shares plunged nearly 9% after the retailer reported another quarterly sales decline and announced longtime executive Michael Fiddelke as its next CEO, set to succeed Brian Cornell in February. While revenue and earnings beat Wall Street’s expectations, comparable sales fell 1.9% and store traffic continued to slide, underscoring the company’s struggles to win back shoppers who say Target has lost the style and service that once set it apart. Fiddelke pledged to restore the brand’s identity with a sharper focus on merchandise, customer experience, and efficiency, though challenges remain as partnerships like its Ulta Beauty shops wind down and markdowns and shifts toward lower-margin categories squeeze profits. Despite reaffirming its full-year forecast, Target’s shares are down about 60% from their 2021 peak, leaving investors skeptical that a leadership change alone can revive its stalled growth.

2. Microsoft and the NFL are deepening their decade-long partnership with a new multiyear deal that will bring artificial intelligence directly to the sidelines. All 32 teams will now utilize more than 2,500 custom-built Surface Copilot tablets powered by Microsoft’s Azure AI, providing coaches and players with real-time tools to analyze formations, track snap counts, and process game data in seconds. The partnership isn’t just about gameday—AI will also support scouting, salary cap management, and even fan engagement, signaling how deeply technology is weaving into the league’s operations. While officials stress that AI won’t make decisions for coaches, its ability to filter vast amounts of data instantly could redefine how football is played, managed, and experienced.

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4. President Trump has disclosed more than $100 million in bond purchases since returning to office, according to new ethics filings detailing nearly 700 transactions. The filings show investments in everything from local governments, school boards, and utility districts to corporate debt from giants like Meta, Home Depot, UnitedHealth, and T-Mobile, companies that have, in some cases, been affected by his policies. While bonds are a common way for governments and businesses to raise money, the scale and diversity of Trump’s holdings are drawing scrutiny, given longstanding concerns over conflicts of interest, especially as past presidents typically divested their assets rather than expanded them while in power. The disclosures add fresh fuel to critics who argue Trump has blurred the line between his role as president and his role as investor.

   Headlines

   1. Hertz has announced a new partnership where it will sell its used rental cars through Amazon.

   2. A survey of economists and CEOs found that Kevin Hassett is believed to be the significant favourite to become the next Federal Reserve Chairman.

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