Hello, friends and Fortune readers.
I’ll admit it: I’m a sucker for clips where sports fans lose their beers as a result of the action on the field. So you know I loved this clip from last night’s Pirates game. I hope you enjoy it as much as I did. With that in mind, here’s what you need to know about in business news today.
1. LinkedIn’s earnings.
Earnings season has been in full swing for a few weeks now, and we’ve seen many of the major tech companies report results. Another one reports today: after the close of trading, LinkedIn will let everyone know how it did in the second quarter. Expectations are mixed, with the company expecting to beat expectations even as growth slows.
2. Synchrony prices IPO on low end.
The IPO of Synchrony, General Electric’s store credit business, was priced at $23 — the low end of the expected range. According to the Financial Times, that will end up raising around $2.9 billion. The FT also notes that the IPO leaves Synchrony with a market valuation of $19 billion.
3. Adidas takes a dive on Russia news.
The German sports gear company issued a statement yesterday saying that due to the political and economic issues related to Russia, it is planning on reducing the number of stores it will open in the next year or so, according to Business Insider. Adidas shares are down more than 13% in trading today.
4. Apple firing redundant Beats employees.
Apple is reportedly letting go of surplus employees at Beats. Apple acquired the headphone manufacturer and music streaming service, founded by Dr. Dre and Jimmy Iovine, earlier this year.
5. Fortune’s Allan Sloan on The Colbert Report.
Last week, Fortune’s Allan Sloan testified before Congress. Ho-hum. Last night he appeared on The Colbert Report to talk about his story on corporate tax inversions. Needless to say, he was awesome. Check out his appearance below.
