In a recent ruling by a Harris County jury, the Houston Downtown Aquarium, owned by Landry’s, has been directed to pay a Texas woman, Glenda Lammert, close to $3 million for injuries sustained during her visit to the entertainment complex. The incident occurred on March 12, 2018, when Lammert, aged 76, suffered a severe ankle injury in a dark section of the Aquarium, getting her ankle caught in a trench next to a rowboat.

Describing the break as “fairly horrific,” Lammert’s attorney, Joshua Davis, highlighted the ongoing consequences of the injury, which prompted the filing of a lawsuit against Landry’s in the 11th District Court.

The jury, consisting of ten members, reached a non-unanimous decision on January 24, awarding Lammert $2.825 million, as recorded in Harris County court documents. Landry’s, responding to the verdict, deemed the award “excessive” and expressed their intent to appeal the ruling.

In a statement, Landry’s in-house litigation counsel, Stephen Hebert, stated, “The parties simply had a disagreement as to case valuation, as Ms. Lammert’s past medical expenses were $13,000. Unfortunately, the jury issued an astonishing and excessive award. We believe the jury was precluded from reviewing important evidence and this contributed to an adverse outcome. Naturally, we will appeal this ruling and anticipate a different outcome from the appellate court.”

Glenda Lammert, appreciative of the jury’s efforts in evaluating the evidence, remains grateful for their service. The verdict is anticipated to make a significant impact on her life, according to Davis. The lawsuit, initially filed in April 2019, proceeded to trial after attempts to reach a settlement failed.

Davis, working alongside Charles Riley, emphasized Riley’s efforts in compiling evidence that led to the Downtown Aquarium stipulating liability, streamlining the case to focus on damages. Riley’s research also uncovered prior incidents and notifications of injuries in the trench area, which allegedly did not prompt any changes before Lammert’s accident.

“We tried to do the right thing and accept responsibility,” added Hebert. “Unfortunately, the jury issued an astonishing and excessive award. We believe the jury was precluded from reviewing important evidence and this contributed to an adverse outcome. Naturally, we will appeal this ruling and anticipate a different outcome from the appellate court.”

In a tale of high expectations and the reality of Wall Street, both Alphabet and Microsoft reported impressive quarterly results on Tuesday, only to face a sell-off in extended trading. Despite exceeding revenue and earnings estimates, the stocks of these tech behemoths were seemingly priced for perfection, leading to a less enthusiastic market response.

Alphabet, with shares up 56% for the year, reported a 13% revenue growth, the fastest expansion rate since early 2022. The $86.31 billion in sales surpassed the estimated $85.33 billion, and earnings per share of $1.64 exceeded estimates by 5 cents. However, disappointment lingered in Google’s ad business, with revenue of $65.52 billion falling short of analysts’ expectations.

Microsoft, riding a 70% surge in the past 12 months, posted an 18% increase in revenue to $62.02 billion, outperforming the average analyst estimate of $61.12 billion. The company’s earnings per share of $2.93 also beat consensus by 15 cents. Both Alphabet and Microsoft exceeded expectations in their cloud businesses, with Google Cloud reporting 25% growth and Microsoft’s Azure and other cloud services expanding by 30%.

Despite the positive numbers, Alphabet shares saw a nearly 6% drop after the report, while Microsoft’s dip was less severe. Investors, perhaps influenced by high expectations and the stocks’ remarkable performance over the past year, found themselves nitpicking the numbers and expressing disappointment.

Analysts, such as those from Stifel, acknowledged Alphabet’s “healthy advertising results” but noted that they fell short of what the market seemingly anticipated. Brian Wieser, an analyst at Madison and Wall, commented on the unrealistic expectations for Google in the advertising market, cautioning that the market may have an inflated view of growth sustainability for dominant companies like Alphabet.

As the tech earnings season unfolds, attention now turns to Thursday when Amazon, Apple, and Meta are set to report their quarterly results. The performances of these tech giants will be closely watched as investors gauge the overall health and trajectory of the industry.

In the ever-evolving world of tech, even stellar results may not be enough to satisfy the voracious appetite of investors betting on perpetual growth. The coming days will reveal whether the recent sell-off is a momentary blip or indicative of a broader trend in the tech sector.

United Parcel Service Inc. (UPS) has unveiled plans to cut 12,000 jobs and provided a revenue outlook for 2024 that fell short of Wall Street’s expectations, causing a sharp decline in its shares at the opening bell.

During a conference call on Tuesday morning, UPS CEO Carol Tome indicated that the company may explore the possibility of selling its Coyote truck load brokerage business. The decision to reduce the workforce is expected to result in $1 billion in cost savings for UPS.

In September, the Teamsters approved a tentative contract agreement with UPS, concluding contentious labor negotiations that had the potential to disrupt package deliveries for millions of businesses and households across the nation.

Tome emphasized the need to align the organization with its strategic goals and allocate resources to focus on crucial objectives. Additionally, UPS announced an increase of 1 cent in its quarterly dividend to shareholders of record on Feb. 20.

In a bid to streamline operations, UPS has mandated that employees return to the office five days a week in the coming year.

UPS anticipates 2024 revenue to fall in the range of approximately $92 billion to $94.5 billion, a figure below Wall Street’s expectations, which had forecasted a number exceeding $95.5 billion. Consequently, UPS shares plummeted nearly 9% on Tuesday.

The fourth quarter of 2023 saw a 7.8% decline in revenue to $24.92 billion, slightly missing Wall Street projections of $25.31 billion. Profits for the quarter ending in December dipped by over half to $1.61 billion, or $1.87 per share, from $3.45 billion, or $3.96 per share. On an adjusted basis, quarterly earnings per share reached $2.47, surpassing the average estimate by a penny, according to FactSet.