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Jersey Mike’s IPO: Stock Slides in Market Debut

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Jersey Mike's IPO: Stock Slides in Market Debut

Jersey Mike’s Subs is a sandwich chain that professes to make “A Sub Above.” Hot, cold. Meats and cheese are sliced in front of customers. And regulars know “Mike’s Way” (onions, tomatoes, lettuce, oregano, and salt) and “The Juice” (an olive oil blend and red wine vinegar). But despite its popularity with consumers, investors weren’t taking a bite of the stock in its first day of trading.

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Spain installs floating barrier in Ceuta after calm night following border rush

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Spain installs floating barrier in Ceuta after calm night following border rush

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Thousands in Amsterdam for boisterous WorldPride in shadow of Berlin attack

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Worried Amitabh Bachchan fans pray to Lord Shiva for his recovery

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KOLKATA: Hundreds of worried fans of ailing Bollywood megastar Amitabh Bachchan today performed a yagna here to pray for his speedy recovery.

“We are using the auspicious occasion of Maha Shivratri to pray to Lord Shiva to help him recover painlessly from his health problems,” Sourav Banerjee of Amitabh Bachchan Fans Association of Kolkata, told.

Dressed in traditional attires, hundreds of fans carrying the actor’s posters thronged the Ekdaliya Evergreen Park in the afternoon for the hour-long yagna.

Ever since the news of Big B’s health problems broke, his admirers here, who have also built a temple for him in south Kolkata, have been a worried lot.

“We have been praying for his health and well-being ever since and are constantly monitoring media reports on his health,” Banerjee said.

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Another of his fan blamed the actor’s “workaholic nature” for his medical condition.
“He has delivered hits after hits all his career and at this age of his life his body needs rest,” said 32-year-old Goutam Basak adding that they are planning a gala celebration when the superstar returns home from hospital. On February 11, 69-year-old Bachchan underwent an abdominal surgery but after he complained of acute pain, his stay at the hospital had to be extended.

Currently recuperating at the Seven Hills hospital, Big B’s health is now said to be improving.

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To keep growing, incoming Best Buy CEO first wants to go smaller

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To keep growing, incoming Best Buy CEO first wants to go smaller

Best Buy is at a critical juncture as the consumer electronics retailer aims to revitalize its performance under incoming CEO Jason Bonfig, who spoke exclusively with CNBC about his strategy for the company.

The company has been struggling with slumping sales over the past few years, which it has attributed to lower consumer confidence, less tech innovation and a slower housing market. In an effort to refresh its products, improve the customer experience and drive more sales, the retailer announced Bonfig will succeed current CEO Corie Barry this fall.

As he prepares to take the helm, Bonfig has said he’s focused on four key pillars: advancing Best Buy as a retail and technology company, improving its reach, enhancing the customer experience and focusing on being a human-powered company. Bonfig has also said he’s looking into ways to capitalize on the artificial intelligence boom and Best Buy’s spot in that next chapter.

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This week, Best Buy opened two new stores, one in Jonesboro, Arkansas, and one in Cape Cod, Massachusetts, which Bonfig told CNBC illustrates his strategy as he prioritizes returning the company to long-term and sustainable growth.

“What we’re finding is that there are markets that we just can’t be in with a traditional size Best Buy store, but they’re markets that absolutely make sense for Best Buy from a reach perspective,” Bonfig said.

Shoppers wait outside at a Best Buy store on Black Friday in New York, US, on Friday, Nov. 28, 2025.

Victor J. Blue | Bloomberg | Getty Images

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To lean into those markets, the company is opening new small-format stores, ranging from 12,000 to 15,000 square feet, compared to its medium-format stores, which range from 20,000 to 25,000 square feet. Some of its largest stores, including its flagship location in New York City, exceed 40,000 square feet.

The new small stores tap into Bonfig’s priority of expanding the company’s reach, he said.

“We also know that when we put a store close to a customer, it doesn’t just change the customers’ behavior in the frequency of the visits of the store … it also changes their behavior digitally as well,” Bonfig said.

When Best Buy joins a new, smaller community, he said, the company has found more customers physically go to a store for the first time, but they also use the app and digital channels as well. The Jonesboro store marks Best Buy’s return to the town after a tornado destroyed its previous location.

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“It’s a great example of a vibrant market, a place where customers are interested in our brand, but not a market that could support a 30,000- or 35,000-square-foot store,” Bonfig said. “An 18,000-square-foot store allows us to have the best of all of our different categories and meet the needs at that particular location.”

The second opening, in Cape Cod, is slightly larger than Best Buy’s normal medium-format stores, coming in at 28,000 square feet, but Bonfig said it’s another example of finding “the right size store in the right location in the right node.”

He added that Best Buy Canada, which can often do things faster than its U.S. counterpart, has been after the small-format store for “an extended period of time” and has seen success with locations as small as 7,000 square feet.

Still, Bonfig emphasized that the small stores are not a replacement for its more typical-format locations.

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“It’s actually an enhancement of what we’re doing today,” he said. “But it actually allows us to reach more customers and more markets that we just were not in before.”

Trying to turn the page

Jason Bonfig to succeed Corie Barry as Chief Executive Officer.

Courtesy: Best Buy

Over the past five years, Best Buy has seen its stock sink roughly 20% after hitting its peak in late 2021, trading at $138 per share.

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For the current fiscal year, Best Buy has said it expects comparable sales in the range of a decline of 1% to an increase of 1%. Though its most recent quarter outperformed Wall Street expectations, it came on the heels of years of declines, like the third fiscal quarter of 2026, when Best Buy reported net income of $140 million, down from $273 million the year prior.

The retailer was also hit by tariffs and is navigating the soaring price of memory chips, which have caused the costs of some consumer electronics to rise.

Bonfig said he attributes Best Buy’s recent stagnant performance to a general pull-forward behavior from consumers during Covid that created an unprecedented demand curve that led to a lull. Like home improvement companies, Best Buy saw outsized spending as shoppers were stuck at home and looking to upgrade.

He said Best Buy saw that behavior reset the technology life cycle for a lot of consumers while also forcing vendors to pivot from innovation to production.

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“I wouldn’t say that Best Buy’s lost its momentum,” he told CNBC. “I think there’s been a very interesting couple years, or maybe more than a couple years, in the market where there was an interesting demand curve where everything was pulled forward.”

As he prepares to take the reins of the company, Bonfig said he’s focused on improving the customer experience, including upgrading TV selections and working with customers to replace their existing TVs.

Bonfig said he’ll define success during his tenure as CEO by the customer response.

He also said the company is leaning into AI for customers and the corporate side of the business, adding that Best Buy is actively investing in new products like Meta’s glasses. Best Buy also has an AI tool for customers to use, in addition to partnerships with OpenAI and Google.

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“Agentic commerce and commerce through AI platforms is happening today,” Bonfig said. “We’re seeing traffic there, and we want to make sure that the Best Buy experience is represented.”

Still, he added, he expects AI to be an enhancement to the human power behind Best Buy.

And, ultimately, as he looks to step into his new role, Bonfig said he still believes in the core strength of Best Buy despite its recent stagnation.

“Corie had an amazing strategy, and my strategy is built on top of that,” Bonfig said. “There is a tremendous amount of momentum.”

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Fifa’s World Cup plan never stacked up – here are 4 reasons why

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FIFA president Gianni Infantino speaks during an event, standing in front of a purple and yellow striped background.

In the slides, Fifa’s central argument was that football does not raise enough cash in relation to its fan base, that “Fifa has been under-monetised versus other leagues” and so “global football development gets squeezed”.

It did this with reference to a comparative chart showing annual revenue as well as revenue per fan for Fifa, the Uefa Champions League, Premier League, US baseball and NFL American football.

On the face of it, Fifa is the poorer cousin at just $1 per global fan, compared to NFL’s $52.8. But this measure is rather suspect.

The World Cup is not an annual competition; it happens once every four years. If instead this was done on revenue per World Cup 2026 match, Fifa makes multiples of the Premier League, perhaps more than three times as much.

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As important, football is decentralised globally, so more of the revenues go to individual leagues, such as the Premier League or Champions League. Fifa was effectively arguing it wanted to keep more of that overall football pie.

Football’s fans are also spread across the globe, in rich and poor countries alike. NFL has a much smaller base concentrated in the US and is pretty much the whole of American Football.

Finally, about half of NFL’s revenues are paid out as wages. Fifa does not pay Erling Haaland or Lionel Messi or Vozinha. Profits would have yielded a rather different result than the chart’s focus on revenues.

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Seatrium Limited 2026 Q2 – Results – Earnings Call Presentation (OTCMKTS:SMBMY) 2026-08-01

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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Documents reveal contents of the first telegraph message between India & England

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Documents reveal contents of the first telegraph message between India & England
PORTHCURNO (ENGLAND): Newly discovered documents have revealed the first telegraph messages and joy when England was linked for the first time with India on 23 June, 1870, via thousands of km of cables laid painstakingly below the seas, reducing time from months to minutes.

The sylvan Porthcurno valley in Cornwall, located on the Atlantic coast 506 km south-west of London, was the unlikely place of a revolution that enabled Britain and its former colonies to communicate with each other.

Museum officials told a visiting PTI correspondent that Porthcurno was the hub of international cable communications from 1870 to 1970, and a training college for the communications industry until 1993.

Now a museum housing rare equipment and details of the history of telegraph, Porthcurno has been granted millions of pounds in funding to develop an international education programme that includes community groups in India.

Among its rare archives discovered last week is a collection of the first telegraph messages sent from Porthcurno and Mumbai (then Bombay).

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Until that landmark day, communication between England and India was unreliable, and often took months.
According to the document, the first message was dispatched on the night of 23 June, 1870, and a reply was received in 5 minutes, which was a technological feat at the time.The message was called a ‘complimentary telegram’ between the ‘Managing Director in London and the Manager in Bombay’.

The first message was from ‘Anderson to Stacey: How are you all?’, to which the reply was: ‘All well’.

The second message from Anderson was: ‘Please ask gentlemen of the press, Bombay, to send a message to gentlemen of the press, New York’.

After several messages that night, including some to the governor of Bombay, from Lady Mayo to viceroy Lord Mayo based in Shimla, and one from the Prince of Wales to the viceroy, a response was received from journalists based in Bombay.

It said: ‘From the Press of India to the Press of America: The Press of India sends salaam to the Press of America. Reply quick’.

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The document notes that the viceroy of India had sent a telegraph to the president of the United States and “received a reply which reached him in 7 hours 40 minutes”.

The viceroy’s message, which was read in the American Congress the same evening, was: “The Viceroy of India for the first time speaks direct by telegraph with the President of the United States. May the completion of the long line of uninterrupted communication be the emblem of lasting union between the Eastern and Western World”.

Telegraphic communication with India was first established in 1864 by overland telegraph lines from Europe to the top of the Persian Gulf and then by an undersea cable to Karachi, but the overland section was never satisfactory, prompting efforts to lay more reliable cables below the sea.

In 1869, telegraph pioneer John Pender established the British Indian Submarine Telegraph Company, whose task was to lay undersea cables to India.

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The five ships used to lay the thousands of km of cables were the Great Eastern, William Cory, Chiltern, Hawk and Hibernia.

It took six weeks to lay the cables from Suez to Bombay. This was followed by the laying of the final link from Malta to Porthcurno.

It was the first long distance cable ‘chain’, and opened to the public with much jubilation, museum records show.

After the link with India was established, Porthcurno was linked by undersea cables to several other areas across the world.

At its height, it was the world’s largest station with 14 cables in operation. Porthcurno’s telegraphic codename was ‘PK’.

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During World War II, tunnels were dug by Cornish miners to house an underground building and Porthcurno’s entire telegraph operations.
The building today houses the museum and archives that started the communication revolution in the late nineteenth century.
Besides 1.44 million pounds funding received in January, the museum this week has been granted 35,000 pounds from the international telecommunications organisation SubOptic to develop an education project with community groups in India, among other countries.
Museum officials said the money will fund an international education programme that will benefit users from spring 2013.

It will include online learning resources, including video clips, animations and games that will enable users to discover the science of global cable-based telecommunications, as well as its impacts on local identity, democracy and culture.

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Exclusive | Tesla Weighs Sale of China Business to Pave Way for Potential SpaceX Merger

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Exclusive | Tesla Weighs Sale of China Business to Pave Way for Potential SpaceX Merger

Elon Musk designed Tesla’s TSLA China business to be easily separated from its U.S. business because of geopolitical tensions. It might also come in handy if he proceeds with a SpaceX SPCX merger.

Musk in recent years instructed Tesla executives to organize the company with a “laser” between its U.S. and China businesses, according to people familiar with the planning. He wanted to ensure that in the event of geopolitical strife between the two countries, at least the U.S. half of Tesla would survive. 

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India Meteorological Department to use dynamic models for forecasts

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PUNE: The statistical models used by the India Meteorological Department (IMD) had failed to predict all the three droughts in India in the last decade. Though statistical models will still be used for monsoon forecast, the ministry of earth sciences is putting more emphasis on dynamic models.

M Rajeevan of National Atmospheric Research Laboratory said, “the failure to predict the 2009 drought has raised many serious issues. On the other hand, the state-of-the art coupled ocean atmospheric models have sho-wed improved skills in predicting inter annual variability of Indian summer monsoon rainfall.”

He was speaking at the golden jubilee conference of Indian Institute of Climate Change (IITM), Pune, on ‘opportunities and challenges in monsoon prediction in changing climate’. Since 2011, the IITM has used the coupled model for monsoon forecast.
Better weather forecast needs data from all parts of the globe. “In every part of the world, farmers are saying that the climate is not as it used to be. Hence, traditional knowledge is also failing. For better prediction of weather, we need observations from all countries. We need super computers of even higher capacities. We need to have knowledge about how to translate scientific progress into concrete applications,” said Michel Jarraud, secretary general, World Meteorological Organisation.

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The Kansai Electric Power Company, Incorporated 2027 Q1 – Results – Earnings Call Presentation (OTCMKTS:KAEPY) 2026-08-01

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

This article was written by

Seeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team

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