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Wix (WIX) CEO Avishai Abrahami announces 20% workforce reduction due to AI evolution and currency exchange challenges

05/28/2026, 07:33 AM economy downsizing Wix.com

Wix is reducing its workforce by approximately 20% due to the rapid advancement of AI technologies and challenges posed by currency exchange rates, which are impacting its operational capabilities.

New York City Implements Pied-a-Terre Tax on Second Homes Valued Over $1 Million

05/28/2026, 07:33 AM business announcement

New York City's newly enacted pied-a-terre tax will significantly increase property taxes for owners of second homes valued at $1 million or more, aiming to generate $500 million in revenue to address the city's budget deficit. This tax could have substantial implications for the luxury real estate market and wealthy residents.

Snowflake (SNOW) Shares Surge 35% Following Strong Earnings and AI Expansion Plans

05/28/2026, 07:33 AM economy stock_growth software ai Snowflake

Snowflake's announcement of a $6 billion investment in Amazon's compute services and strong earnings results have led to a significant surge in its stock price, boosting investor confidence in the software sector amid ongoing concerns about AI's impact on traditional software models.

Analysts BTIG initiate coverage of Absci Corporation (ABSI) with a buy rating and $9 price target, citing potential for ABS-201 in hair loss treatment

05/28/2026, 07:33 AM investing rating_growth Analysts: analysts, BTIG biotech

Absci Corporation's innovative hair loss treatment, ABS-201, has garnered a buy rating from BTIG, with a projected peak sales potential of $2.2 billion, indicating significant market opportunity in a largely underserved sector.

American Gaming Association Estimates States Have Lost Over $1 Billion in Tax Revenue Due to Unregulated Prediction Markets

05/28/2026, 07:33 AM investing research finance

The American Gaming Association reports that states have lost over $1 billion in tax revenue due to unregulated prediction markets, which they argue should be treated like sports betting. This situation raises concerns about the financial impact on community projects funded by gambling taxes.

Bank of America Securities Outlines Two Oil Scenarios Amid U.S.-Iran Tensions

05/28/2026, 07:33 AM investing forecast Analysts: Bank of America energy Bank of America

Bank of America Securities outlines two potential scenarios for oil prices based on U.S.-Iran relations, highlighting the significant impact of geopolitical developments on the market.

Core Inflation Reaches 3.3% in April, Fed’s Preferred Measure Indicates

05/28/2026, 06:31 AM economy forecast

Recent inflation data indicates that consumer prices rose by 0.4% in April, maintaining a 12-month inflation rate of 3.8%, which may influence the Federal Reserve's monetary policy decisions moving forward.

Analysts JPMorgan upgraded MGM Resorts International (MGM) to overweight and raised target price to $46, citing strong Las Vegas tourism

05/28/2026, 06:31 AM investing rating_growth Analysts: analysts, JPMorgan finance MGM

JPMorgan has upgraded MGM Resorts International to overweight, citing strong Las Vegas Strip tourism and a positive outlook for the company's earnings growth, which could lead to a 10% increase in stock value.

Experian Automotive Reports Increase in Auto Loans with Monthly Payments Over $1,000, Primarily for Non-Luxury Models

05/28/2026, 05:33 AM business review auto

The rise in auto loans with monthly payments exceeding $1,000 highlights a significant shift in consumer financing behavior, with nearly 19% of new vehicle loans now falling into this category, primarily for non-luxury models. This trend reflects the impact of rising vehicle prices and changing market dynamics.

Kohl’s (KSS) Stock Surges 10% Following Best Comparable Sales Performance in Four Years

05/28/2026, 05:33 AM business stock_growth retail Kohl's

Kohl's stock surged 10% in premarket trading following a report of improved comparable sales, marking the retailer's best performance in four years despite a slight decline in overall net sales.