• Macy’s reported a surprise fiscal first-quarter profit, as shoppers returned to stores to refresh their wardrobes
• The retailer raised its full-year outlook, citing the momentum it’s seeing in its shops and online for the heightened optimism
• CEO Jeff Gennette said the retailer is seeing strength in items for the home, fine jewelry and watches, fragrance and luxury

• Walmart’s first-quarter earnings beat Wall Street’s expectations, as its sales got a lift from strong grocery and e-commerce sales
• The big-box retailer raised its guidance for the fiscal year
• The company said more shoppers have headed to its stores and website to get ready to socialize again as Covid cases decline and vaccination rates rise

Home Depot crushes estimates, its sales jump 32.7% as customers rang up bigger purchases

• Home Depot handily beat Wall Street’s estimates for its fiscal first-quarter earnings and revenue
• The retailer has gotten a boost to sales over the last year during the coronavirus pandemic
• Home Depot didn’t release an outlook for fiscal 2021

• Italian supercar maker Lamborghini has announced that it will launch a fully-electric car in the second half of the decade
• Lamborghini laid out “a roadmap to the decarbonization of future Lamborghini models and of the Sant’Agata Bolognese site,” its factory headquarters
• The next 10 years sees the company transition to hybrid models before it launches a fully-electric car

• President Joe Biden is scheduled to tour Ford’s new Rouge Electric Vehicle Center in Dearborn, Michigan, where the electric F-150 Lightning pickup will be produced
• Biden is expected to tout his American EV agenda and $2 trillion infrastructure package that includes $174 billion to spur the development and adoption of electric vehicles
• The F-150 Lightning could be the poster child for such plans

• With more than 1.9 billion drinks served every day, Coca-Cola is one of the world’s largest beverage companies
• With U.S. soda consumption on the decline, the soft drink maker has been forced to pivot
• Coke recently launched Topo Chico Hard Seltzer, marking its first move into alcoholic beverages on its home turf after a four-decade long hiatus
• The company has also recently invested in the sports performance drink category with BodyArmor and it purchased U.K. coffee maker Costa in 2019

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• Virgin Galactic delivered first quarter results after the market closed on Monday, announcing that it has yet to set a target date for its next spaceflight test, which the company previously planned for this month
• The space tourism company reported an adjusted EBITDA loss of $55.9 million, down from a loss of $59.5 million in the previous quarter
• The stock has fallen 24% year to date – having dropped more than 70% from highs above $60 a share hit in February

• NBC is pushing the Hollywood Foreign Press Association, which hands out the awards, for quicker changes to boost diversity within its ranks
• WarnerMedia, Netflix and Amazon Studios have refused to participate in any more HFPA events until the organization demonstrates it is heading toward real and lasting reform

• Ford’s upcoming all-electric F-150 pickup truck will be called Lightning and the name was used by the automaker for street performance trucks in the 1990s and early 2000s
• The F-150 Lightning will be unveiled at 9:30 p.m. EDT on May 19 at the company’s world headquarters in Dearborn, Michigan

FDA permits use of the Pfizer-BioNTech Covid vaccine in kids ages 12 to 15

• The FDA approved Pfizer and BioNTech’s request to allow their Covid-19 vaccine to be given to kids ages 12 to 15 on an emergency use basis
• The agency granting use of the shot in younger age groups will accelerate the nation’s efforts to drive down infections, experts say
• It will also allow middle school-aged students to get vaccinated before school starts this fall

• Ford Motor is recalling 661,000 Explorer sport utility vehicles in North America at the request of U.S. regulators
• Retention pins could loosen and allow roof rail covers to detach from the vehicle and the recall covers 2016 through 2019 model year vehicles

• The U.S. government’s auto safety agency is investigating multiple complaints about steering failures that could affect more than 1.1 million Honda Accord sedans
• Owners complained about a loss of steering control and the cars veering from their intended travel path. Two crashes and two injuries were reported
• In documents posted Monday, the National Highway Traffic Safety Administration says it received 31 complaints about the problem, and Honda has 77 more
• Owners complained about a loss of steering control and the cars veering from their intended travel path

• The rate of average daily new Covid cases in the U.S. fell to below 41,000 over the weekend, down 30% from two weeks ago and the lowest level since September
• CDC data shows that the country is averaging 2 million vaccinations per day over the past week, down from the peak level of 3.4 million daily shots on April 13

• Roku’s riveting earnings report has some traders doubling down on the streaming stock
• Roku in the first-quarter report posted its highest revenue growth rate since its 2017 IPO
• Loop Capital Markets upgraded the stock to a buy with a $450 price target after the results, citing its impressive platform growth, increasing market share and the overall shift to digital streaming

• Chipotle said it will increase restaurant wages resulting in a $15 average hourly wage by the end of June, as it looks to bring on 20,000 workers
• Starting pay for hourly crew members will range from $11 to $18 an hour and there are opportunities to advance to general manager positions with average annual pay of $100,000
• Chipotle CEO Brian Niccol said the current labor market is among the most challenging he’s seen in his career in the restaurant industry
• The company has also introduced employee referral bonuses of $200 for crew members and $750 for apprentices or general managers

• White House chief medical advisor Dr. Anthony Fauci said Sunday that people may wear masks during certain seasons when respiratory illnesses are more prevalent
• “We’ve had practically a non-existent flu season this year […],“Fauci said
• His comments come less than a month after the Biden administration announced a relaxation of federal guidance on wearing masks outdoors

• Elon Musk’s SpaceX will launch the “DOGE-1 Mission to the Moon” in the first quarter of 2022, with the company accepting the meme-inspired cryptocurrency as payment
• Geometric Energy Corporation announced the dogecoin-funded mission on Sunday, with DOGE-1 representing a 40 kilogram cube satellite flying as a payload on a Falcon 9 rocket
• SpaceX vice president of commercial sales Tom Ochinero said in a statement that DOGE-1 “will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce”

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