July 9, 2025
- Nvidia has become the world’s first $4 trillion dollar company, in terms of market value. The tech company beat both Apple and Microsoft for the position in doing so (via CNN Business).
- X CEO Linda Yaccarino has publicly stepped down from her role in helming the social media company. Yaccarino thanked Elon Musk for the opportunity, and Musk in turn thanked the outgoing exec for her contributions (via Axios).
- Amazon Prime Day notched $7.9 billion in U.S. retail revenue on its first day, according to data from Adobe. That figure represents a 9.9% increase in year-over-year consumer spend versus 2024 (via Chain Store Age).
- Ray-Ban maker EssilorLuxottica saw shares rise approximately 6% on reports that Meta had purchased a significant ~$3.51 billion stake in the company. Meta has notably been expanding into the wearable tech market (via CNBC).
- Used vehicles are rising in price once more. According to the Manheim Used Vehicle Index, prices have shot up by 6.3% year-over-year, the largest YoY increase since August 2022 (via Reuters).
- Starbucks has yet to significantly improve its fortunes under the guidance of CEO Brian Niccol. During his nine-month tenure thus far, one focused on a sweeping turnaround effort, the stock has remained relatively flat, and demand has not substantially increased (via Reuters).
- Samsung has announced the coming release of three new foldable smartphones in July. The Galaxy Z Fold 7, Galaxy Z Flip 7, and Galaxy Z Flip 7 FE launch on July 25, although preorders open July 9 (via CNN Business).
- CVS Caremark has dropped coverage of weight-loss drug Zepbound. GLP-1 products are “significantly contributing to overall plan costs,” a company spokesperson said (via FOX Business).
- Nordstrom announced the shuttering of two stores by the end of August. Locations in St. Louis, Missouri, and Santa Monica, California, are slated for closure, although company execs indicated the retailer would assist affected staff in finding new roles with the organization (via The New York Post).
- QVC is kicking off its annual Christmas in July sale, joining several other retailers competing with Amazon’s sales event. The QVC holiday-themed sale runs until July 31 (via Chain Store Age).
- New tariffs on copper and pharmaceuticals have been hinted at by President Trump. Trump has signaled a 50% tariff on copper, and a potential 200% tariff on pharmaceuticals (via CNN Business).