Advertiser exodus hits X after Musk’s alleged antisemitic tweet

Apple (APPL:NASDAQ) and Disney (DIS:NYSE) have paused online advertising campaigns on X, formerly Twitter, after owner Elon Musk said he agreed with a social media post accusing “Jewish communities” of pushing “hatred against whites,” according to sources familiar with both companies’ moves.

Warner Bros Discovery (WBD:NASDAQ), Paramount Global (PARA:NASDAQ) and Lions Gate Entertainment (LGF:NYSE) are also suspending campaigns on the social media service, spokespeople for the company confirmed.

Amazon lays off hundreds of Alexa workers

Amazon (AMZN:NASDAQ) has begun laying off “several hundred” people in its Alexa division as part of broader belt-tightening that’s been underway since last year, the company confirmed.

Amazon didn’t specify which Alexa initiatives it’s winding down as a result of the move.

Amazon CEO Andy Jassy has been in cost-cutting mode since last year as the company reckons with an economic downturn and slowing growth in its core retail business.

The company initiated the largest layoffs in its history, cutting more than 27,000 jobs, and axed many of its more unprofitable initiatives. Amazon previously cut employees in its devices and services division, which includes Alexa.

Amazon shares gained 2.18% for the week.

Its an early Christmas for target investors.

Target (TGT:NYSE) posted better-than-expected quarterly earnings that overshadowed a decline in sales. Target executives said the company has worked hard to meet its profit targets for the year, focusing on tighter inventory and expense management.

As the critical holiday shopping season begins, the big-box retailer is offering more lower-priced items, including a new line of cookware, and promoting holiday gift items for under $25.

Rival Walmart’s (WMT:NYSE) quarterly report wasn’t so cheery. On Thursday, the company gave a wary earnings outlook for the current year, warning of deflation in the coming months.

Target shares surged 19.8% for the week, while Walmart shares tumbled 6.5%.

Large orders fuel Boeing’s takeoff

A large order for jets helped boost Boeing (BA:NYSE) shares at the start of the week.

Emirates Airlines said it would buy 95 wide-body jets from the U.S. aircraft maker as the Dubai-based carrier moves to expand its long-haul fleet to meet rising demand for global travel. The orders include Boeing’s 777-9, 777-8, and 787 Dreamliner jets.

Emirates said the jets were worth $52 billion. The companies didn’t disclose the financial details of the transaction, but buyers typically receive steep discounts on such orders. Emirates is the biggest operator of Boeing 777 aircraft globally, with almost 150 currently in its fleet.

Boeing shares gained 4% on Monday and 2.18% for the week

Tough times continue for American meatpackers

Tyson (TSN:NYSE) continued to lose money across its beef, chicken, and pork divisions in its latest quarter as the largest U.S. meat processor by sales contends with volatile commodity markets, slowing demand, and other operational problems.

Tyson Foods has been trying to cut costs by closing plants and laying off workers. Executives said its efforts are working.

While Tyson’s chicken business swung to a $267 million loss from a $340 million profit a year earlier, the company sees improvement ahead as feed prices decline and consumers shift to buying chicken and away from pricier beef.

Tyson shares gained 7% for the week.

Home Depot builds up gains

Home Depot (HD:NYSE) shares built up gains after the company beat earnings expectations in the latest quarter.

While the home-improvement giant’s sales and profit increased more than anticipated, the company said consumers are pulling back on big purchases and deferring major home-improvement projects.

Home Depot had posted steady comparable-store sales declines since the heady growth of the early pandemic, when homebound Americans focused on renovations and DIY improvements. Now, hhigh interestrates and depressed home sales are weighing on demand for remodels.

Home Depot shares climbed 5.4% Tuesday, marking their best day since November 2022. The shares finished the week 6.6% higher.