Business
4DX movie experience carves out a niche market segment
Chris Hemsworth stars as the villainous Dementus in Warner Bros.' "Furiosa: A Mad Max Saga."Warner Bros. DiscoveryIn George Miller's new Mad Max film "Furiosa," a red paint flare explodes and casts the theater screen in a saturated crimson cloud.Feet away, among the...
The summer reading list for the rich, by J.P. Morgan Private Bank
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox.Today's workaholic wealthy rarely have time to sit...
TJX and Ross won’t be slowing down anytime soon — here’s why
A T.J. Maxx store in Pasadena, California.Mario Anzuoni | ReutersOff-price retailers like TJX Companies and Ross are still posting sales gains and taking market share from rivals, but it's not just because consumers are under pressure and hunting for value. Persistent...
Resort day passes offers travelers luxury on a budget
Avid traveler Lora Bowler is cutting back on vacation spending. That doesn't mean she's skipping the resort.The New York resident said she spent more in 2023 than she had expected to, including on travel, and is now reining in her expenses. She uses travel hacks and...
UAW challenges Mercedes-Benz union vote, asks NLRB for new election
United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023.Andi Rice | Bloomberg | Getty ImagesDETROIT – The United Auto Workers union is challenging the results of...
Two CVS pharmacies join new national pharmacy union
The CVS pharmacy logo is displayed on a sign above a CVS Health Corp. store in Las Vegas, Nevada on February 7, 2024.Patrick T. Fallon | AFP | Getty ImagesPharmacy staff at two CVS retail stores in Rhode Island voted to join a new national pharmacy union on Friday,...
Starliner astronaut launch moving forward despite leak
In this handout provided by the National Aeronautics and Space Administration (NASA), a United Launch Alliance Atlas V rocket with Boeing's CST-100 Starliner spacecraft aboard is seen illuminated by spotlights on the launch pad at Space Launch Complex 41 ahead of the...
Eli Lilly invests to increase Mounjaro, Zepbound supply
An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City on Dec. 11, 2023.Brendan McDermid | ReutersEli Lilly on Friday said it is investing another $5.3 billion in a manufacturing plant in Lebanon, Indiana, to boost supply of its...
What to know about human cases, vaccines
Cows are seen standing in a feedlot on June 14, 2023 in Quemado, Texas.Brandon Bell | Getty ImagesU.S. health officials are monitoring and preparing to combat bird flu in humans, even as they stress that the risk to the general public remains low. A strain of bird flu...
Advertisers boost retail media spending as TV dwindles
An M&M's advertisement seen on a gas pump.Courtesy: GSTVThe next frontier for the ad market isn't on TV — it's in stores and on your phone.Television had long been the key target for advertisers, until tech companies like Alphabet and Meta-owned platforms like...
Frontier Airlines CEO said passengers abuse airport wheelchair service
Frontier Airlines plane seen at Cancun International Airport. On Wednesday, December 08, 2021, in Cancun International Airport, Cancun, Quintana Roo, Mexico.Artur Widak | Nurphoto | Getty ImagesThe 1986 Air Carrier Access Act requires airlines to provide a wheelchair...
GM CEO Mary Barra has no plans to retire
General Motors chair and chief executive officer Mary Barra participates in an Economic Club of Washington discussion on "the transformation of the automotive industry to an all-electric future, the path to autonomous vehicles, and the recent negotiations with GM's...
Daily marijuana use surpasses alcohol consumption, new study finds
In this photo illustration, dried cannabis flowers are displayed on April 30, 2024 in San Anselmo, California. The U.S. Drug Enforcement Administration (DEA) announced plans to reclassify marijuana as a less dangerous drug and designate it a Schedule III controlled...
Warner Bros. Discovery considers matching NBA package slated for Amazon
Jalen Brunson #11 of the New York Knicks drives to the basket during the game against the Indiana Pacers during Round 2 Game 1 of the 2024 NBA Playoffs on May 6, 2024 at Madison Square Garden in New York City, New York. Nathaniel S. Butler | National Basketball...
Newly built home sales April
A pile of lumber at a home under construction at the Cold Spring Barbera Homes subdivision in Loudonville, New York, US, on Wednesday Nov. 8, 2023. Angus Mordant | Bloomberg | Getty ImagesSales of newly built homes dropped 4.7% in April compared with March, and fell a...
Boeing CFO comments on deliveries, cash flow after Max crisis
An American Airlines Boeing 737 MAX 8 flight from Los Angeles approaches for landing at Reagan National Airport shortly after an announcement was made by the FAA that the planes were being grounded by the United States in Washington, U.S. March 13, 2019. Joshua...
Justice Department sues Live Nation, parent of Ticketmaster
Live Nation and Ticketmaster logos arranged on a smartphone and laptop in New York, US, on Wednesday, April 17, 2024. Gabby Jones | Bloomberg | Getty ImagesThe U.S. Department of Justice is suing to break up Live Nation, the parent company of Ticketmaster, over...
Palm Beach housekeepers make $150,000 a year due to massive demand
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and consumer. Sign up to receive future editions, straight to your inbox.Housekeepers in Palm Beach and South Florida are...
Rollback in IRA’s EV credits would benefit China, says GM board member
Any significant reduction or a rollback of the Inflation Reduction Act's support for electric vehicles would benefit China, according to General Motors board member Jon McNeill."I think we risk losing the auto manufacturing share to China. We really do, globally,"...
E.l.f. Beauty (ELF) earnings Q4 2024
E.l.f Beauty products.Courtesy: e.l.f BeautyE.l.f. Beauty posted its first billion-dollar fiscal year on Wednesday as sales spiked 77%, but the retailer's shares fell as it said it expects its growth to slow.The eyes, lip, face company, known for its viral marketing...
Warner Bros. Discovery, ESPN strike College Football Playoff deal
ESPN college football broadcast camera on display prior to the All State Sugar Bowl playoff game between the Texas Longhorns and the Washington Huskies on Monday, January 1, 2024 at Caesars Superdome in New Orleans, LA.Nick Tre. Smith | Icon Sportswire | Getty...
Customers say they can’t access funds
Sarinyapinngam | Istock | Getty ImagesA dispute between a fintech startup and its banking partners has ensnared potentially millions of Americans, leaving them without access to their money for nearly two weeks, according to recent court documents.Since last year,...
Target, Walmart, McDonald’s cut prices and offer deals
A "low price" sign hangs from a shelf at a Target store in Miami, Florida, on May 20, 2024.Joe Raedle | Getty ImagesTarget's weak quarterly earnings underscored why it cut prices on thousands of household staples: It's struggling to win over bargain hunters.The...
Pfizer announces new cost cutting program
Exterior view of the Pfizer headquarters building on January 29, 2023 in New York City. Kena Betancur | Corbis News | Getty ImagesPfizer on Wednesday said it has launched a new multi-year program to reduce costs as it works to rebound from the rapid decline of its...
GM Chevy Equinox EV goes on sale
GM's 2024 Chevrolet Equinox EV during a media launch event for the vehicle on May 16, 2024 in Detroit.Michael Wayland / CNBCDETROIT — The Chevrolet Equinox has been a crucial part of General Motors' lineup for two decades. The vehicle is a quintessential family hauler...
Existing home sales slip in April
Homes in the Issaquah Highlands area of Issaquah, Washington, US, on Tuesday, April 16, 2024. David Ryder | Bloomberg | Getty ImagesSales of previously owned homes fell 1.9% in April from March to 4.14 million units, on a seasonally adjusted annualized basis,...
Pickleball courts boom to keep pace with rapid expansion
People play pickleball at Central Park on April 8, 2023 in New York City. Wang Fan | China News Service | Getty ImagesAmerica's fastest-growing sport is also rapidly growing its footprint.Over the past seven years, the number of outdoor public park pickleball courts...
Buy now, pay later firms must comply with U.S. credit card laws
Rohit Chopra, director of the CFPB, testifies during a House Financial Services Committee hearing on June 14, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe Consumer Financial Protection Bureau declared on Wednesday that customers of the burgeoning buy now,...
McDonald’s franchisee group cheers $5 value meal, pushes for more
An employee hands an order to a customer through a drive-thru window at a McDonald's restaurant in Oakland, California, on April 9, 2020.David Paul Morris | Bloomberg | Getty ImagesAn independent advocacy group of McDonald's franchisees is weighing in on the company's...
Target (TGT) Q1 2024 earnings
A customer shops at a Target store in Miami, Florida, on May 20, 2024.Joe Raedle | Getty ImagesTarget will report its fiscal first-quarter earnings on Wednesday, just days after it said it would cut prices on thousands of groceries and everyday items.The...
Where U.S. rents are rising
Driven by the new work-from-home dynamic as well as by new migration patterns, rent prices were red-hot during the first years of the pandemic for both single-family and multifamily homes.Now different drivers are pushing some rents higher — and throwing cold water on...
Disney’s Pixar lays off 14% of workforce
A bicyclist rides past the entrance to the Pixar Animation Studios headquarters in Emeryville, California, U.S.Bloomberg | Getty ImagesLong-expected layoffs are hitting Pixar Animation Studios today.Pixar will lay off about 175 employees, or around 14% of the studio's...
Wendy’s will offer $3 breakfast meal deal after McDonald’s value meal
An exterior view of a Wendy's fast-food restaurant in Bloomsburg, Pennsylvania, on May 19, 2024.Paul Weaver | SOPA Images | Getty ImagesWendy's will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while...
JPMorgan stock is too expensive
Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesJamie Dimon thinks...
Short seller alleges misleading investors
Oddity Il MakiageCoutesy: OddityA short seller on Tuesday alleged that beauty and wellness company Oddity Tech has been misleading investors and isn't the online-only retailer it's claimed to be. The firm, Ningi Research, published a 50-page report that details a slew...
Nestle to launch Vital Pursuit frozen food for GLP-1 users
Vital Pursuit's Garlic Herb Grilled Chicken BowlSource: Nestle North AmericaNestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy.Over the last year, the buzzy weight loss...
Family offices become prime targets for cyber hacks and ransomware
A computer with a "system hacked" alert due to a cyber attack on a computer network.Teera Konakan | Moment | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high net worth investor and...
Macy’s (M) Q1 2024 earnings
The Macy's company logo is seen at the Macy's store on Herald Square on January 19, 2024 in New York City. Macy's department-store chain announced that they will be laying off roughly 2,350 employees which is about 3.5% of their workforce. The company says that it...
Peloton shares plunge after refinancing
A pedestrian walks by a Peloton store in Palo Alto, California, on May 8, 2024.Justin Sullivan | Getty ImagesPeloton shares plunged on Monday after the connected fitness company said it is launching a "global refinancing," as it looks to stave off a cash crunch amid...
Lowe’s (LOW) Q1 2024 earnings
A shopping cart sits in front of a Lowe's store in Pacoima, California, November 21, 2023.Justin Sullivan | Getty ImagesLowe's topped Wall Street's quarterly earnings and revenue expectations on Tuesday, even as do-it-youself customers bought fewer pricey items.The...
JPMorgan CEO Jamie Dimon hints at retiring within 5 years
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., at the UK Global Investment Summit at Hampton Court Palace in London, UK, on Monday, Nov. 27, 2023. Bloomberg | Bloomberg | Getty ImagesJamie Dimon's days as CEO of JPMorgan Chase are numbered — though...
Spirit Airlines gets rid of change fees, joining Frontier
A Spirit Airlines aircraft undergoes operations in preparation for departure at the Austin-Bergstrom International Airport on February 12, 2024 in Austin, Texas. Brandon Bell | Getty ImagesSpirit Airlines is doing away with both change and cancellation fees, effective...
Department stores want younger shoppers
Signage of Macy's, Kohl's and Nordstrom retail stores.Getty ImagesDepartment stores are aging — and so are their customers.For over a century, the stores won over multiple generations with a promise to sell shoppers a wide variety of everything. For many Millennial...
Hims & Hers weight loss adds compounded GLP-1 injections
Products of Hims & Hers displayed.Hims & HersDigital pharmacy startup Hims & Hers Health is introducing access to compounded GLP-1 weight loss injections, the company announced Monday. The company, which offers a range of direct-to-consumer treatments for...
Red Lobster files for bankruptcy
A sign is posted on the exterior of a Red Lobster restaurant on April 17, 2024 in Rohnert Park, California. Justin Sullivan | Getty ImagesRed Lobster has filed for bankruptcy, continuing the process to shrink its footprint and find a buyer, the company said in a...
Is there a pullback in consumer spending? Here’s what CEOs say
People walk past a Sweetgreen restaurant in Manhattan on September 14, 2023. Jeenah Moon | The Washington Post | Getty ImagesWith higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table...
Companies lean on sports after Hollywood strikes
Brock Purdy #13 of the San Francisco 49ers prepares to take a snap in the first quarter against the Kansas City Chiefs0 during Super Bowl LVIII at Allegiant Stadium on February 11, 2024 in Las Vegas, Nevada. Michael Reaves | Getty ImagesMedia giants relied on sports...
Mercedes-Benz workers in Alabama vote against union
United Auto Workers (UAW) members and supporters on a picket line outside the ZF Chassis Systems plant in Tuscaloosa, Alabama, US, on Wednesday, Sept. 20, 2023.Andi Rice | Bloomberg | Getty ImagesMercedes-Benz workers in Alabama have voted against union representation...
Frontier Airlines change fees scrapped in pricing overhaul
A Frontier Airlines plane lands at the McCarran International Airport in Las Vegas on Feb. 27, 2020.Elizabeth Page Brumley | Tribune News Service | Getty ImagesFrontier Airlines said it will stop charging customers a fee to change their flights, taking a page from...
Boeing CEO Dave Calhoun reelected to board
Boeing CEO Dave Calhoun speaks briefly with reporters as he arrives for a meeting at the office of Sen. Mark Warner (D-VA) on Capitol Hill January 24, 2024 in Washington, DC. Drew Angerer | Getty ImagesBoeing shareholders voted to re-elect the outgoing CEO Dave...
Dodge, Ram boss Tim Kuniskis to retire from Stellantis
Tim Kuniskis, head of Fiat Chrysler's passenger cars division in North America, reveals the 2021 Dodge Durango SRT Hellcat SUV during an online event on July 2, 2020.ScreenshotDETROIT – Stellantis' Dodge and Ram brands CEO Tim Kuniskis is retiring after a nearly...
Private deals for mansions, art and cars on the rise
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The rich have taken "quiet wealth" to a new level,...
Boeing supplier Spirit AeroSystems lays off workers, citing lower deliveries
A Boeing 737 MAX-10 lands over the Spirit AeroSystems logo during a flying display at the 54th International Paris Air Show at Le Bourget Airport near Paris, France, on June 22, 2023.Benoit Tessier | ReutersAerospace supplier Spirit AeroSystems on Thursday said it...
Canada Goose (GOOS) Q4 earnings report 2024
Chris So | Toronto Star | Getty ImagesShares of Canada Goose surged 16% on Thursday after the company reported earnings for the fiscal fourth quarter and announced it was expecting year-over-year sales growth for fiscal year 2025.Here's how the company did:Earnings...
FDA approves Amgen small cell lung cancer treatment
The Amgen headquarters in Thousand Oaks, California.Eric Thayer | Bloomberg | Getty ImagesThe Food and Drug Administration on Thursday approved Amgen's therapy for patients with the most deadly form of lung cancer. The agency cleared the drug, which will be marketed...
NBA TV rights deal hinges on Warner Bros Discovery
NBA Commissioner Adam Silver speaks to the media during a press conference as part of the 2022 All-Star Weekend at Rocket Mortgage Fieldhouse on February 19, 2022 in Cleveland, Ohio.Jason Miller | Getty ImagesWhether it's two people in a marriage or a company and a...
Grocery sales rise as fast food prices increase
Getty Images (L) | Reuters (R)Forget the drive-thru. Walmart wants diners to find a value meal in its grocery aisles.As fast food gets pricier, the nation's largest grocer sees a sales opportunity.On a call with CNBC on Thursday, Walmart Chief Financial Officer John...
Wayfair to open first large store outside of Chicago
Wayfair store in Wilmette, Illinois.Courtesy: WayfairWhat retail apocalypse?Online home goods retailer Wayfair is opening its first namesake store, near Chicago, following a string of other digitally native companies that have turned to brick-and-mortar for growth. In...
Roche weight loss drug shows promising results in early trial
A logo at the Roche Holding AG headquarters in Basel, Switzerland, on Thursday, Feb. 1, 2024.Bloomberg | Getty ImagesRoche on Thursday said its experimental weight loss drug showed promising results in an early-stage trial, boosting the company's bid to compete in the...
FAA clears United Airlines to add new aircraft, routes after safety review
A United Airlines 737 Max 8Leslie Josephs | CNBCUnited Airlines said the Federal Aviation Administration has cleared it to add new aircraft and routes months after the regulator stepped up its scrutiny of the carrier after several safety incidents."Today, we got some...
Under Armour (UAA) earnings Q4 2024
Under Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year. The athletic apparel retailer also saw profits sink by more than...
Walmart (WMT) Q1 2025 earnings
People walk near the entrance of a Walmart store in Miami, Florida, on May 14, 2024.Joe Raedle | Getty ImagesWalmart will report earnings on Thursday, as investors look to the nation's largest retailer to gauge the health of American consumers and the strength of the...
Biden’s tariffs on Chinese EVs may not deter growing threat
U.S. President Joe Biden announces increased tariffs on Chinese products to promote American investments and jobs in the Rose Garden of the White House on May 14, 2024 in Washington, DC. Win Mcnamee | Getty ImagesDETROIT — President Joe Biden's plan to quadruple...
Netflix ad tier has 40 million users
Rafael Enrique | Lightrocket | Getty ImagesNetflix's cheaper, ad-supported tier has amassed 40 million global monthly active users, the company said Wednesday.That's nearly double the 23 million figure the streaming giant shared in January.Separately, Netflix...
McDonald’s $5 value meal starts June 25, last about a month
A McDonald's store sign in Austin, Texas, Oct. 30, 2023.Brandon Bell |Getty ImagesMcDonald's is set to offer a $5 value meal in the U.S., but only for a limited time.The promotion will include four items for $5 — a McChicken or McDouble, four piece chicken nuggets,...
Nio’s Onvo brand undercuts Tesla Model Y
Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China.CNBC | Evelyn ChengSHANGHAI — Chinese electric car company Nio revealed Wednesday that the first car for its new, lower-priced brand, Onvo, will be about...
Netflix to stream Christmas Day NFL games for three years
The Netflix logo is shown on one of the streaming giant's Hollywood buildings in Los Angeles on July 12, 2023.Mike Blake | ReutersNetflix will stream Christmas Day NFL games for the next three years, in its most significant step yet into live sports.The streaming...
Justice Department says Boeing breached 2021 agreement over 737 Max
Boeing 737 MAX airplanes are pictured outside a Boeing factory on March 25, 2024 in Renton, Washington. Stephen Brashear | Getty ImagesBoeing violated a 2021 settlement that protected it from criminal charges tied to the fatal 737 Max crashes, opening the company up...
Walgreens to offer cheaper opioid overdose drug
A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, in Manhattan, New York City, on Nov. 26, 2021.Andrew Kelly | ReutersWalgreens on Wednesday said it will offer its own cheaper version of the over-the-counter opioid overdose reversal spray...
Roaring Kitty meme stock rally may help with debt payments
Cars drive near an AMC Theater in New York City on March 29, 2023.Leonardo Munoz | View Press | Corbis News | Getty ImagesCan AMC Entertainment capitalize on a second meme craze?The stock, alongside GameStop, surged this week after "Roaring Kitty," the man who...
Disney+ to stream Caitlin Clark’s WNBA debut with Indiana Fever
Indiana Fever guard Caitlin Clark (22) drives to the basket against Atlanta Dream guard Destanni Henderson (33) during a WNBA preseason game on May 9, 2024, at Gainbridge Fieldhouse in Indianapolis, Indiana.Brian Spurlock | Icon Sportswire | Getty ImagesThe WNBA...
Walmart to lay off, relocate hundreds of corporate workers
People walk near the entrance to a Walmart Supercenter on February 20, 2024, in Hallandale Beach, Florida. Joe Raedle | Getty ImagesWalmart is laying off hundreds of corporate workers across the country as it relocates many employees to its Arkansas headquarters.The...
Twin Peaks, Smokey Bones confidentially file for IPO
Smokey Bones at Broadcasting Square. Tim Leedy | Medianews Group | Getty ImagesFat Brands said Tuesday it has confidentially filed to take its Twin Peaks and Smokey Bones restaurant chains public through an initial public offering, less than a week after federal...
Wegovy patients maintain weight loss for 4 years: Novo Nordisk study
Boxes of Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. Hollie Adams | ReutersPatients taking Novo Nordisk's obesity drug Wegovy maintained an average of 10% weight loss for up to four years, according to a new analysis published...
Peacock, Netflix and Apple TV+
Omar Marques | Lightrocket | Getty ImagesComcast said Tuesday it will introduce a streaming bundle for its cable, broadband and mobile subscribers, tying together Peacock, Netflix and Apple TV+ at a discounted rate.The announcement, made Tuesday at the...
Stellantis to export China-made EVs to Europe via Leapmotor deal
Stellantis CEO Carlos Tavares and Leapmotor founder and CEO Zhu Jiangming shake hands in relation to new partnerships between their companies.StellantisAutomaker Stellantis expects to quickly grow sales of China-made electric vehicles outside of the country through a...
Home Depot (HD) Q1 2024 earnings
The logo of U.S. home improvement chain Home Depot is seen in Mexico City, Mexico, on Jan. 15, 2020.Luis Cortes | ReutersHome Depot on Tuesday posted quarterly revenue below Wall Street's expectations, as shoppers postponed bigger discretionary projects like bath and...
Novavax stock jumps on Sanofi Covid vaccine deal
A vial labelled "Novavax V COVID-19 Vaccine" is seen in this illustration taken January 16, 2022. Dado Ruvic | ReutersShares of Novavax jumped as much as 50% on Monday as Wall Street cheered the company's new multibillion-dollar deal with French drugmaker Sanofi that...
Airlines challenge Biden administration fee disclosure rule
Aerial view of United Airlines passenger planes docked in a terminal of Newark Airport in Newark, New Jersey, on May 11, 2024. Charly Triballeau | Afp | Getty ImagesMajor airlines and an industry trade association asked a federal appeals court to toss out a new...
Xponential Fitness sees stock whipsaw after CEO ousted
Anthony Geisler, CEO, Xponential Fitness at the NYSESource: NYSEShares of Xponential Fitness, the parent company of Cyclebar and Pure Barre fitness studios, bounced around in trading Monday after the company announced late Friday that CEO Anthony Geisler would be...
The rule capping credit card late fees at $8 is on hold — here’s what it means for you
Rohit Chopra, director of the Consumer Financial Protection Bureau, speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., Dec. 15, 2022.Ting Shen | Bloomberg | Getty ImagesThe U.S. banking industry won a key victory in its...
Media companies woo advertisers as spend shifts to digital
Kevin Mazur | Getty Images Entertainment | Getty ImagesMedia giants are making their annual pitches to advertisers this week against the backdrop of significant disruption in the industry.The Hollywood writers and actors strikes are over, meaning Upfronts will likely...
NRF rejects Shein membership as retailer pursues U.S. IPO
A sign hangs outside the Shein warehouse in Whitestown, Indiana, on Nov. 29, 2023.Scott Olson | Getty ImagesChinese-founded fast fashion behemoth Shein isn't just working to win over lawmakers in Washington, D.C., as it gears up for a potential U.S. IPO, it's also...
NHL CEO, other Latino executives found Latinos in Sports platform
Xavier Gutierrez, CEO of the Arizona Coyotes and CEO of ImpactX Sports Group (L), and Pedro Guerrero, CEO of Guerrero Media.Courtesy: Guerrero MediaWhen the National Hockey League's Arizona Coyotes sold its franchise to Utah last month, the league didn't just lose an...
Sweetgreen, Chipotle and Wingstop aren’t seeing a consumer slowdown
A food delivery messenger carries a take-out bag outside a Sweetgreen in Manhattan, New York City, on Sept. 14, 2023.Jeenah Moon | The Washington Post | Getty ImagesHigh-income consumers helped Chipotle Mexican Grill, Wingstop and Sweetgreen report strong sales this...
Ford names ex-Lucid Motors exec as next CFO, promotes current chief
Ford's Chief Financial Officer John Lawler and Linda Zhang, chief engineer for the company's All Electric F-150 Lightning, participate in the opening bell ceremony at the New York Stock Exchange, April 28, 2022.Brendan Mcdermid | ReutersFord Motor on Friday named the...
Goldman, American Express are among top companies for parents: study
Vadym Buinov | Moment | Getty ImagesWorking parents, guardians or caretakers know the challenge of striking the delicate balance between work and care responsibilities.From paid parental leave to quality health-care coverage and equal pay that cover child care costs,...
McDonald’s working on $5 value meal
A McDonalds located on Santa Monica Blvd in Los Angeles, California, April 1, 2024.Robert Gauthier | Los Angeles Times | Getty ImagesMcDonald's is working to introduce a value meal in U.S. stores to help offset an increasingly challenging environment for consumers,...
Sweetgreen shares soar 35% after company beats revenue expectations
People dine outside a Sweetgreen in Manhattan.Jeenah Moon | The Washington Post | Getty ImagesSweetgreen shares surged 35% on Friday after the company topped Wall Street's revenue expectations for the first quarter.The salad chain reported $158 million in revenue,...
Fat Brands, chair Andy Wiederhorn indicted in $47 million loan scheme
Andy Wiederhorn, former Fatburger CEO.CNBCFederal authorities on Friday charged Fat Brands and its chair Andy Wiederhorn of committing a brazen scheme that netted him $47 million in bogus loans from the restaurant company that owns Fatburger, Johnny Rockets and Twin...
EV startups Rivian, Lucid, Nikola attempt to shore up cash
R1T trucks on the assembly line at the Rivian electric vehicle plant in Normal on April 11, 2022. Brian Cassella | Tribune News Service | Getty ImagesOnce-hot electric vehicle startups — years ago fueled by low interest rates, free cash and Wall Street bullishness —...
Fine art sales are down as collectors pull back
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The key May art sales at major auction houses are...
Novavax and Sanofi to commercialize Covid vaccine, develop combo shots
A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands.Patrick Van Katwijk | Getty ImagesNovavax on Friday said it has signed a...
Moderna says RSV vaccine FDA approval delayed to end of May
Nikos Pekiaridis | Lightrocket | Getty ImagesModerna on Friday said the Food and Drug Administration has delayed the approval of its vaccine for respiratory syncytial virus to the end of May due to "administrative constraints" at the agency.The FDA was expected to...
Promoters offer $2 million VIP package
In this composite image a comparison between Former Boxer Mike Tyson (L) and Jake Paul (R). Tyson and Paul face in July 2024 exhibition fight. Francois Nel | Christian Petersen | Getty ImagesMike Tyson's return to the boxing ring to fight Jake Paul this summer is...
Sinclair explores selling 30% of broadcast stations
Signage stands outside the Sinclair Broadcast Group Inc. headquarters in Cockeysville, Maryland, U.S., on Friday, Aug. 10, 2018. Andrew Harrer | Bloomberg | Getty ImagesSinclair, one of the largest owners of broadcast stations in the U.S., is looking to sell more than...
Planet Fitness raises prices even as customers grow cost-conscious
People work out at a Planet Fitness in Alexandria, Virginia, Jan. 8, 2024.Leah Millis | ReutersPlanet Fitness is hiking its base-level membership prices for new customers for the first time since 1998, even as the gym operator warns its customers are growing...
Casinos face shareholder votes over indoor smoking
A new strategy has emerged in the battle to ban smoking in casinos: the shareholder vote.Shareholders at Boyd Gaming, Bally's Entertainment and Caesars Entertainment will put on the ballot at the respective casino companies proposals to force them to study the costs...
CFPB rule faces possible freeze
Epoxydude | Fstop | Getty ImagesA Consumer Financial Protection Bureau regulation that promised to save Americans billions of dollars in late fees on credit cards faces a last-ditch effort to stave off its implementation.Led by the U.S. Chamber of Commerce, the card...
McDonald’s makes changes to increase mobile sales
A Big Mac is displayed on a page of the McDonald's appDaniel Acker | Bloomberg | Getty ImagesMcDonald's U.S. franchisees will start paying into a digital marketing fund next year as the fast-food giant looks to expand its booming digital business, according to a memo...
Hydrow acquires Speede Fitness, grows as Peloton shrinks
Connected fitness company Hydrow, which Peloton once tried to buy, is growing sales and has acquired a majority stake in strength training company Speede Fitness as gymgoers move away from cardio exercises in favor of weights, the company told CNBC on Thursday. Hydrow...
GM can regain market share in China after 20-year low, exec says
GM President Mark Reuss announces a $2.2 billion investment in the automaker's Detroit-Hamtramck Assembly plant in Michigan for new all-electric trucks and autonomous vehicles on Jan. 27, 2020.Michael Wayland / CNBCDETROIT – General Motors believes it can regain...
Warner Bros. Discovery (WBD) earnings Q1 2024
In this photo illustration, the Warner Bros. Discovery logo is displayed on a smartphone screen.Rafael Henrique | SOPA Images | Lightrocket | Getty ImagesWarner Bros. Discovery reported first-quarter results on Thursday, missing analyst expectations on both the top...
Organized theft ring that targeted Macy’s charged in NYC
The Macy's logo is seen at its store in Herald Square in New York City on Jan. 19, 2024.Michael M. Santiago | Getty ImagesA New York beauty store just blocks away from the Empire State Building resold more than $1 million worth of goods that' had been stolen from...
Disney, Warner Bros. Discovery bundle streaming services
In this photo illustration the Disney+ logo seen displayed on a smartphone screen.SOPA Images | LightRocket | Getty ImagesThe bundle is back.Disney and Warner Bros. Discovery are planning to offer their streaming services — Disney+, Hulu and Max — in a bundle...
Applebee’s owner Dine Brands targets fast food customers
Applebee's and IHOP owner Dine Brands thinks its deals can lure away fast-food customers who have grown frustrated with menu prices.The company reported first-quarter earnings that fell short of Wall Street's estimates, and both Applebee's and IHOP's same-store sales...
Movie slate lacks franchise hits
Ryan Gosling stars in Universal's "The Fall Guy."UniversalFor the first time since 2009, the box office doesn't have a Marvel film to kick off the summer movie season — and it shows.Since the 2008 release of "Iron Man," Marvel Cinematic Universe films have...
Oddity Tech (ODD) earnings Q1 2024
As Ulta Beauty says it expects a slowdown in retail's most resilient category, an upstart says it is bucking the trend. Oddity Tech, the newly public Israeli cosmetics platform that uses artificial intelligence to develop products, posted first-quarter results that...
New York tops new list
New York is the richest city in the world, with 359,500 millionaires and 60 billionaires, although the Bay Area of California is close behind, according to a new study.New York's millionaire population has surged 48% over the past decade, despite fears of wealth...
Amgen could threaten Novo Nordisk, Eli Lilly weight loss drug dominance
The injectable weight-loss medication Wegovy is available at New City Halstead Pharmacy on April 24, 2024 in Chicago, Illinois.Scott Olson | Getty ImagesNovo Nordisk and Eli Lilly have long dominated the rapidly growing weight loss drug market, but their duopoly is...
Private equity firms circle Peloton for potential buyout
A Peloton Bike inside a showroom in New York, US, on Wednesday, Nov. 1, 2023. Peloton Interactive Inc. is scheduled to release earnings figures on November 2.Michael Nagle | Bloomberg | Getty ImagesA number of private equity firms have been considering a buyout of...
Disney streaming results improve as cable TV decays
The Walt Disney Company CEO Bob Iger attends the Nominees Luncheon for the 95th Oscars in Beverly Hills, California, U.S. February 13, 2023. Mario Anzuoni | ReutersFor Disney, the future is now.It's been five years in the making, but Disney nearly turned a profit in...
Life Time fitness leans into pickleball with Lululemon partnership
Ben Johns and Anna Bright play pickleball at the new Life Time at Penn 1 next to Madison Square Garden in New York City on May 4, 2024.Mike Stobe | Getty ImagesLife Time fitness is all in on pickleball.That commitment to America's fastest-growing sport was clear in...
What we know about the consumer so far
A customer walks through The Home Depot store on February 20, 2024 in Austin, Texas. Brandon Bell | Getty ImagesThe state of the consumer in 2024 is already taking shape — even before the country's major retailers begin to report first-quarter earnings, starting with...
Dozens of former employees plan to sue Bowlero for discrimination
Dozens of former employees who say they were fired from Bowlero based on their age or out of retaliation plan to sue the bowling chain after the U.S. Equal Employment Opportunity Commission closed its case against the company, the attorney representing the claimants...
Disney (DIS) earnings Q2 2024
The "Partners" statue of Walt Disney and Mickey Mouse, at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida, photographed Saturday, June 3, 2023.Joe Burbank | Tribune News Service | Getty ImagesDisney reports its fiscal...
Citigroup CEO Jane Fraser says low-income consumers are more cautious
Citigroup CEO Jane Fraser said Monday that consumer behavior has diverged as inflation for goods and services makes life harder for many Americans.Fraser, who leads one of the largest U.S. credit card issuers, said she is seeing a "K-shaped consumer." That means the...
Equinox launches $40,000 ‘Optimize’ membership
High-end fitness chain Equinox is launching one of the most expensive gym memberships in the world — a $40,000-per-year program aimed at improving overall health and longevity.Equinox is teaming up with lab-test startup Function Health to launch "Optimize by Equinox,"...
Howard Schultz weighs in on Starbucks earnings miss
Howard Schultz, former chief executive officer of Starbucks Corp., drinks from a Starbucks mug during a Senate Health, Education, Labor, and Pensions Committee hearing in Washington, DC, US, on Wednesday, March 29, 2023.Al Drago | Bloomberg | Getty ImagesFormer...
Star Wars was the first Lego license — 25 years later, it’s stronger than ever
Star Wars Lego models are seen at the Bricks & Figs museum in Krakow, Poland, on April 15, 2023.Anadolu | Anadolu | Getty ImagesIf you are a Star Wars fan, Jens Kronvold Frederiksen may have crafted your childhood.A design director at the Denmark-based Lego...
Dave & Buster’s plan to allow betting on arcade games draws scrutiny
A Dave & Buster's location in the Gateway Center shopping complex in the Brooklyn borough of New York, US, on Saturday, March 30, 2024. Bing Guan | Bloomberg | Getty ImagesArcade chain Dave and Buster's plan to allow customer betting isn't winning over...
Amgen scraps experimental weight loss pill, moves forward with injection
The Amgen logo is displayed outside Amgen headquarters in Thousand Oaks, California, on May 17, 2023.Mario Tama | Getty ImagesAmgen on Thursday said it will stop developing its experimental weight loss pill and instead move forward with its injectable drug and other...
Skydance could drop bid after Sony Apollo offer
Shari Redstone, chair of Paramount Global, attends the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on Tuesday, July 11, 2023.David A. Grogan | CNBCSkydance Media is prepared to walk away from its offer for Paramount Global unless it receives...
Immigrant workers are helping boost the U.S. labor market
People walk through the newly opened Grand Central Madison train terminal in Manhattan on February 27, 2023 in New York City.Spencer Platt | Getty ImagesThe strong jobs market has been bolstered post-pandemic by strength in the immigrant workforce in America. And as...
Berkshire Hathaway’s big mystery stock wager could be revealed soon
Warren Buffett tours the grounds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska.David A. Grogan | CNBCBerkshire Hathaway, led by legendary investor Warren Buffett, has been making a confidential wager on the financial industry since the third...
Talent war between family offices and Wall Street drives up salaries
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The typical family office costs more than $3 million a...
Amgen soars on weight loss drug progress, Novo Nordisk, Eli Lilly slide
Pavlo Gonchar | Lightrocket | Getty ImagesAmgen's stock rose more than 12% on Friday after the drugmaker teased positive initial data on its experimental weight loss injection. That fueled investor concerns about new competition in the rapidly growing weight loss drug...
Sony, Apollo express interest in Paramount buyout amid Skydance bid
Shari Redstone, Paramount Global, attends the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, July 11, 2023.David A. Grogan | CNBCSony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board...
Peloton CEO Barry McCarthy steps down, 15% of staff laid off
Barry McCarthy, president and CEO of Peloton Interactive, walks to a morning session at the Allen & Company Sun Valley Conference on July 06, 2022 in Sun Valley, Idaho.Kevin Dietsch | Getty ImagesPeloton announced Thursday that CEO Barry McCarthy will be stepping...
Wayfair (W) earnings Q1 2024
The Wayfair app on a smartphone arranged in Hastings-on-Hudson, New York.Tiffany Hagler-Geard | Bloomberg | Getty ImagesWayfair's sales slid during its first fiscal quarter, but the online furniture retailer reduced its losses after cutting 13% of its workforce at the...
Moderna (MRNA ) earnings Q1 2024
Nikos Pekiaridis | Nurphoto | Getty ImagesModerna on Thursday posted a narrower-than-expected loss for the first quarter as the company's cost-cutting efforts took hold and sales of its Covid vaccine, its only commercially available product, topped estimates. The...
Carvana (CVNA) earnings Q1 2024
Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023.Brandon Bell | Getty ImagesShares of Carvana popped more than 30% during after-hours trading Wednesday after the automaker reported record results and turned a profit during the...
Starbucks, McDonald’s, Yum earnings show consumers pulling back
It's finally here: the long-predicted consumer pullback.Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. And even stalwart McDonald's...
Bally Sports regional networks go dark for Comcast cable customers
A Bally Sports display is shown in the eighth inning of the game between the Houston Astros and Minnesota Twins at Target Field on April 9, 2023 in Minneapolis, Minnesota. The Astros defeated the Twins 5-1.David Berding | Getty Images Sport | Getty ImagesComcast...
Cruise line company trading on NYSE
Aerial view of the Viking Jupiter cruise ship anchored in the port of Montevideo, on January 5, 2022. Ivan Pisarenko | AFP | Getty ImagesViking is not your typical cruise operator.Aboard its smaller, upscale vessels, you won't find any kids. In fact, the cruise line...
NYCB shares jump 30%, CEO gives plan for ‘clear path to profitability’
A New York Community Bank stands in Brooklyn, New York City, on Feb. 8, 2024.Spencer Platt | Getty ImagesNew York Community Bank on Wednesday posted a quarterly loss of $335 million on a rising tide of soured commercial loans and higher expenses, but the lender's...
Yum Brands (YUM) Q1 2024 earnings
A Pizza Hut store is seen on November 01, 2023 in Austin, Texas.Brandon Bell | Getty ImagesYum Brands on Wednesday reported quarterly earnings and revenue that missed analysts' expectations as Pizza Hut and KFC struggled to attract customers.Shares of the company fell...
CVS Health (CVS) earnings Q1 2024
CVS Health on Wednesday reported first-quarter revenue and adjusted earnings that missed expectations and slashed its full-year profit outlook, citing higher medical costs that are dogging the U.S. insurance industry.Shares of the company dropped 10% in premarket...
Pfizer (PFE) earnings Q1 2024
Jakub Porzycki | Nurphoto | Getty ImagesPfizer on Wednesday reported first-quarter revenue that beat expectations and hiked its full-year profit outlook, benefitting from its broad cost-cutting program and strong sales of its non-Covid products.The company now expects...
Johnson & Johnson will pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.
Johnson & Johnson on Wednesday said it will pay $6.5 billion to settle nearly all of the thousands of lawsuits in the U.S. claiming its talc-based products caused ovarian cancer.The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing...
Ford University dealer training on EVs uses AI, gamification
Ford Mustang on display at the NY Auto Show, April 6, 2023.Scott Mlyn | CNBCDEARBORN, Mich. — Ford Motor is launching a new training program for more than 3,000 U.S. franchised dealers on Wednesday that uses artificial intelligence for employee coaching evaluations...
Starbucks (SBUX) earnings Q2 2024
A Starbucks coffee shop in Amsterdam.Nicolas Economou | Nurphoto | Getty ImagesStarbucks on Tuesday reported weaker-than-expected quarterly earnings and revenue, fueled by a surprise decline in same-store sales.The coffee chain also slashed its forecast for its fiscal...
NBC could buy back ‘Roundball Rock’ rights if it gets NBA games, John Tesh says
Michael Jordan #23 and Scottie Pippen #33Nathaniel S. ButlerIn the pantheon of theme songs for TV sports, "Roundball Rock," John Tesh's anthem that accompanied National Basketball Association games on NBC until 2002, is arguably the greatest.If NBCUniversal wins the...
FTC challenges patents held by drugmakers, including for Ozempic
A box of Ozempic and contents sit on a table in Dudley, North Tyneside, Britain, October 31, 2023. Lee Smith | ReutersThe Federal Trade Commission on Tuesday said it is challenging hundreds of alleged "junk" patents held by pharmaceutical companies for 20 brand-name...
Dave & Buster’s to allow customers to bet on arcade games
Arcade giant Dave & Buster's is taking its games to a new level by offering social wagering on its app.Customers can soon make a friendly $5 wager on a Hot Shots basketball game, a bet on a Skee-Ball competition or on another arcade game. The betting function,...
S&P CoreLogic Case-Shiller index shows home prices up 6.4% in February
A Redfin sign in front of a home for sale in Atlanta, Georgia, on Sunday, Nov. 13, 2022.Elijah Nouvelage | Bloomberg | Getty ImagesStrong demand and tight supply continue to push home values higher, even though mortgage rates are now moving higher again.Home prices in...
Walmart to shutter health centers, virtual care service
Walmart on Tuesday said it will close all of its health-care clinics across the country, a stunning reversal of its plans to bring its low-priced reputation to the dentist and doctor's office along with the grocery aisle. The big-box retailer said it would also...
Eli Lilly (LLY) earnings Q1 2024
Eli Lilly logo is shown on one of the company's offices in San Diego, California, U.S., September 17, 2020. Mike Blake | ReutersEli Lilly on Tuesday reported first-quarter adjusted profit that topped Wall Street's expectations and hiked its full-year guidance on...
Coca-Cola (KO) Q1 2024 earnings
A Coca-Cola building in Zagreb, Croatia, Nov. 8, 2023.Denis Lovrovic | AFP | Getty ImagesCoca-Cola on Tuesday reported quarterly earnings and revenue that beat analysts' expectations.The beverage giant also raised its full-year outlook for organic revenue.Shares of...
Burger King invests another $300 million to remodel restaurants
The Burger King logo is displayed at a Burger King fast food restaurant on January 17, 2024 in Burbank, California. Mario Tama | Getty ImagesBurger King will invest another $300 million to remodel about 1,100 of its U.S. restaurants as part of a broader turnaround...
Walmart launches new grocery brand BetterGoods
People talk outside a Wal-Mart Pickup-Grocery store in Bentonville, Arkansas.Rick Wilking | ReutersWalmart is debuting a new grocery brand, as the discounter tries to retain the shoppers it has attracted during a period of high inflation.On Tuesday, the big-box...
Paramount CEO Bob Bakish steps down
Bob Bakish, president and chief executive officer of Viacom, attends the fourth day of the annual Allen & Company Sun Valley Conference, July 11, 2023 in Sun Valley, Idaho. David A. Grogan | CNBCParamount Global CEO Bob Bakish is stepping down, the company...
J&J, Bristol Myers Squibb lose Medicare drug-price talks challenges
Jonathan Raa | Nurphoto | Getty ImagesA federal judge in New Jersey on Monday rejected Johnson & Johnson's and Bristol Myers Squibb's legal challenges to the Biden administration's Medicare drug-price negotiations, ruling that the program is constitutional. The...
McDonald’s (MCD) Q1 2024 earnings
McDonald's french friesPicture Alliance | Picture Alliance | Getty ImagesMcDonald's is expected to report its first-quarter earnings before the bell on Tuesday.Here's what Wall Street analysts surveyed by LSEG are expecting:Earnings per share: $2.72 expectedRevenue:...
Peacock streaming subscription prices to increase before Summer Olympics
The price of Peacock is flying higher.Subscription prices for Peacock, Comcast's answer to the streaming wars, will increase by $2 this summer. The price adjustment is a way for Comcast's NBCUniversal to capitalize on the Summer Olympics in Paris, which will air on...
Family offices look beyond stocks for higher return, less volatility
Large family offices have nearly half their investments in private markets and alternatives, as they move out of the stock market in search of higher returns and lower volatility, according to a new study.Family offices have 46% of their total portfolio in alternative...
Pittsburgh Pirates, Penguins launch streaming service for local games
Pittsburgh Pirates pitcher Paul Skenes. Diamond Images | Diamond Images | Getty ImagesThe regional sports network that airs Pittsburgh's MLB and NHL teams is launching a direct-to-consumer streaming service, the latest to take the step as more fans cut the...
Shari Redstone playing M&A war games with Paramount CEO removal
Bob Bakish, CEO of Paramount, speaks with CNBC's David Faber on Sept. 6, 2023.CNBCIn what could easily be a plotline from HBO's hit show "Succession," Paramount Global plans to replace Chief Executive Officer Bob Bakish with a cohort of existing division heads on...
American Airlines cuts some international flights citing Boeing delays
Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023. JanValls | Nurphoto | Getty ImagesAmerican Airlines on Friday said Boeing's 787 Dreamliner delivery delays are forcing it to cut some...
CVS Omnicare pharmacy in Vegas is first to join new pharmacy union
The CVS pharmacy logo is displayed on a sign above a CVS Health Corp. store in Las Vegas, Nevada on February 7, 2024.Patrick T. Fallon | AFP | Getty ImagesA CVS in Las Vegas has become the first location to join a new national pharmacy union, a milestone as organizers...
Starbucks, Workers United union make progress in negotiations
A Starbucks worker boards the Starbucks union bus after Starbucks workers stood on the picket line with striking SAG-AFTRA and Writers Guild of America (WGA) members in solidarity outside Netflix studios on July 28, 2023 in Los Angeles, California. Mario Tama | Getty...
Wealth gap between millennials spurs a new class war
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The wealth gap between rich millennials and the rest...
FDA approves Pfizer gene therapy Beqvez for treatment of hemophilia B
Pavlo Gonchar | Lightrocket | Getty ImagesThe Food and Drug Administration on Friday approved Pfizer's treatment for a rare genetic bleeding disorder, making it the company's first-ever gene therapy to win clearance in the U.S. The agency greenlit the drug, which will...
Paramount, Skydance inch closer to a merger agreement: Sources
Paramount Global and Skydance Media are making progress on a deal that would merge the media companies and buy out controlling shareholder Shari Redstone, according to people familiar with the matter.Paramount Global's special committee, in charge of accepting or...
U.S. pro pickleball group signs first international deal in India
A pickleball paddle and balls at the pickleball courts in Tropical Park on March 23, 2023, in Miami. (Jose A. Iglesias/El Nuevo Herald/Tribune News Service via Getty Images)Jose A. Iglesias | El Nuevo Herald | Getty ImagesAmerica's fastest-growing sport, pickleball,...
Southwest weighs seating changes to drive up revenue
A Southwest Airlines Boeing 737-700 aircraft lands at Ronald Reagan Washington National Airport in Arlington, Virginia, on May 7, 2023.Nicolas Economou | Nurphoto | Getty ImagesSouthwest Airlines is weighing changes to its cabin that could involve abandoning its...
Honda to build $11 billion electric vehicle hub in Canada
A Brand new Honda Pilot is displayed on the sales lot at Honda Marin on February 06, 2024 in San Rafael, California. Justin Sullivan | Getty ImagesDEROIT – Honda Motor and yet-to-be-named joint venture partners plan to invest $11 billion in Ontario, Canada, to create...
Red Lobster seeks a buyer as it looks to avoid bankruptcy filing
Beleaguered seafood chain Red Lobster is seeking a buyer as it looks to avoid filing for bankruptcy, CNBC has learned. The company has considered filing for bankruptcy to help it restructure its debt and get out of a number of costly and lengthy leases, but it's also...
Comcast (CMCSA) earnings Q1 2024
The Comcast logo is displayed on a tablet.Igor Golovnov | SOPA Images | Lightrocket | Getty ImagesComcast beat first-quarter earnings expectations on Thursday as broadband drove revenue even as the company and its peers have seen customer growth slow.Here is how...
Bristol Myers Squibb (BMY) earnings Q1 2024
The Bristol Myers Squibb research and development center at Cambridge Crossing in Cambridge, Massachusetts, US, on Wednesday, Dec. 27, 2023. Adam Glanzman | Bloomberg | Getty ImagesBristol Myers Squibb on Thursday reported first-quarter revenue that topped...
Southwest Airlines (LUV) earnings Q1 2024
A Southwest commercial airliner takes off from Las Vegas on Feb. 8, 2024.Mike Blake | ReutersSouthwest Airlines on Thursday posted a wider loss for the first quarter than the same period last year and warned that Boeing's airplane delays will hamper its growth into...
American Airlines (AAL) earnings Q1 2024
A Boeing 737 passenger aircraft of American Airlines arrives from Austin at JFK International Airport in New York as the Manhattan skyline looms in the background on February 7, 2024.Charly Triballeau | Afp | Getty ImagesAmerican Airlines swung to a loss in the first...
Merck (MRK) earnings Q1 2024
Exterior view of the entrance to Merck headquarters on February 05, 2024 in Rahway, New Jersey.Spencer Platt | Getty ImagesMerck on Thursday reported first-quarter revenue and adjusted earnings that topped expectations as it posted strong sales of its blockbuster...
Chipotle Mexican Grill (CMG) Q1 2024 earnings
Chipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that beat analysts' expectations, fueled by higher traffic to its restaurants.The stock rose 4% in extended trading.Here's what the company reported compared with what Wall Street was...
JPMorgan in U.S-Russia sanctions war after overseas court orders $440M seized from bank
JPMorgan Chase CEO and Chairman Jamie Dimon gestures as he speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, D.C., on Dec. 6, 2023.Evelyn Hockstein | ReutersA Russian court...
Chipotle abandons Farmesa Fresh Eatery spinoff after ghost kitchen closes
Chipotle is launching Farmesa Fresh Eatery first at Kitchen United's upcoming Santa Monica location.Source: Chipotle Mexican GrillChipotle Mexican Grill is abandoning its Farmesa Fresh Eatery spinoff after partner Kitchen United closed its ghost kitchens.A little over...
Walgreens launches cell, gene therapies in service expansion
A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, in Manhattan, New York City, on Nov. 26, 2021.Andrew Kelly | ReutersWalgreens on Thursday said it will start to work directly with drugmakers to bring cell and gene therapies to U.S....
Ford (F) earnings Q1 2024
The Ford display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBCDETROIT — Ford Motor is announcing first-quarter earnings after the markets close Wednesday.Here is what Wall Street expects, based on average analyst estimates compiled...
Inside Foot Locker’s plan to revitalize retail footprint
A Foot Locker, Inc. store. Courtesy of: Foot Locker, Inc.A new and improved Foot Locker debuted at a New Jersey mall on Wednesday as the sneaker retailer looks to reverse a sales slump, keep brand partners loyal and win back Wall Street's confidence by revamping the...
Starbucks resumes bargaining with Workers United union
Starbucks and the union that represents its baristas will resume contract negotiations on Wednesday, ending an extended stalemate.The two sides' return to the bargaining table follows their February announcement that they found a "constructive path forward" during...
Biogen (BIIB) earnings Q1 2024
A test tube is seen in front of displayed Biogen logo in this illustration taken on, December 1, 2021.Dado Ruvic | ReutersBiogen on Wednesday reported first-quarter profit that topped estimates as the company's cost-cutting efforts took hold and sales of its closely...
3.6 million Medicare patients could get heart health coverage
More than 3 million people with Medicare could be eligible for coverage of Wegovy now that the blockbuster weight loss drug is also approved in the U.S. for heart health, according to an analysis released Wednesday by health policy research organization KFF.But some...
Boeing (BA) earnings Q1 2024
An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019.Lindsey Wasson | ReutersBoeing's quarterly report on Wednesday will be the most complete accounting to date of the fallout from the...
EW Scripps exploring sale of Black-culture broadcast network Bounce TV
Tanika Ray, Alyson Fouse, Kym Whitley, Yvette Nicole Brown and Tisha Campbell attend Bounce TV's "Act Your Age" Los Angeles Series Premiere at The London West Hollywood at Beverly Hills on February 27, 2023 in West Hollywood, California. Charley Gallay | Getty...
Walmart-backed fintech One introduces buy now, pay later
Customers shop in a Walmart Supercenter on February 20, 2024 in Hallandale Beach, Florida.Joe Raedle | Getty Images News | Getty ImagesWalmart's majority-owned fintech startup One has begun offering buy now, pay later loans for big-ticket items at some of the...
JetBlue shares tumble after airline lowers 2024 revenue outlook
Silhouette of passenger in front of the JetBlue Airbus A321neo aircraft spotted on the apron tarmac docked at the passenger jet bridge from the terminal of Amsterdam Schiphol International Airport AMS EHAM in the Netherlands. Nicholas Economou | Nurphoto | Getty...
PepsiCo (PEP) Q1 2024 earnings
Bottles of Pepsi soda are seen on display at a Target store on February 09, 2024 in the Flatbush neighborhood of Brooklyn borough New York City.Michael M. Santiago | Getty ImagesPepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts'...
Boeing expects slower production increase of 787 Dreamliner
Boeing 787 Dreamliners are built at the aviation company's North Charleston, South Carolina, assembly plant on May 30, 2023. Juliette Michel | AFP | Getty ImagesBoeing told employees on Monday that it expects a slower increase in production and deliveries of new 787...
FTC sues to block Tapestry acquisition of Capri Holdings
Pedestrians walk past a Coach store and a Michael Kors store.Scott Olson | Getty ImagesThe U.S. Federal Trade Commission on Monday sued to block the $8.5 billion acquisition of Capri Holdings by Coach and Kate Spade's parent company, Tapestry.The move by regulators...
General Motors (GM) earnings Q1 2024
The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021.Rebecca Cook | ReutersDETROIT — General Motors is set to report its first-quarter earnings before the bell Tuesday.Wall Street expects General Motors to report solid, if...
Delta Air Lines gives staff another 5% raise, hikes starting wages
Delta Air Lines jets are seen on a taxiway at Hartsfield-Jackson Atlanta International Airport in Atlanta on Dec. 22, 2021.Elijah Nouvelage | ReutersDelta Air Lines said it is raising staff pay by another 5% this year as the country's most profitable airline prepares...
Luxury real estate prices hit an all-time record, Redfin says
Real estate is increasingly a tale of two markets — a luxury sector that is booming, and the rest of the market that continues to struggle with higher rates and low inventory.Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin. Yet,...
Disney CTO Aaron LaBerge to leave company for personal reasons
The Walt Disney company logo is displayed on the floor of the New York Stock Exchange during morning trading on Dec. 1, 2023.Michael M. Santiago | Getty ImagesAaron LaBerge, the chief technology officer for Disney Entertainment and ESPN, is leaving the company,...
UAW VW organizing drive: What investors should know
Volkswagens are seen in the employee parking lot at the Volkswagen automobile assembly plant on March 20, 2024 in Chattanooga, Tennessee.Elijah Nouvelage | Getty ImagesDETROIT – The United Auto Workers notched a big win this weekend.Volkswagen workers in Chattanooga,...
Meet the private doctor to the wealthy — at $40,000 a year
Dr. Jordan Shlain, founder of Private Medical.Credit: Jordan ShlainA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight...
Ex-JetBlue CEO Robin Hayes to run Airbus North America
Robin Hayes, chief executive officer of JetBlue Airways Corp., speaks during an Economic Club of New York event in New York, US, on Wednesday, March 29, 2023.Michael Nagle | Bloomberg | Getty ImagesFormer JetBlue Airways CEO Robin Hayes will run Airbus' North America...
Express files for bankruptcy, plans to close nearly 100 stores
Pedestrians walk past an Express Inc. store in New York, U.S., on Wednesday, May 31, 2017.Mark Kauziarich | Bloomberg | Getty ImagesLongtime mall retailer Express filed for Chapter 11 bankruptcy on Monday, but a group of investors led by brand management firm WHP...
Cricket, big business in India, brings star power to US with world cup
USA Cricket Vice-Captain Aaron Jones poses next to a giant cricket ball, installed at a marketplace to mark 100 days to go for the ICC Men's T20 World Cup, in Miami, Florida, on Feb. 22, 2024.Chandan Khanna | Afp | Getty ImagesA major cricket world cup is coming to...
Weight loss drug patients spend less on restaurants, takeout: survey
A food delivery messenger carries a take out bag outside aSweetgreen in Manhattan on September 14, 2023.Jeenah Moon | The Washington Post | Getty ImagesA highly popular group of weight loss and diabetes drugs is decreasing some consumers' appetites — and also how much...
VW workers in Tennessee vote to join UAW in historic win for union
Kelcey Smith displays UAW buttons in Chattanooga, Tennessee on April 10, 2024. Kevin Wurm | The Washington Post | Getty ImagesVolkswagen workers in Chattanooga, Tennessee, have overwhelmingly voted to join the United Auto Workers — marking a major milestone for the...
Lululemon to shutter Washington warehouse, lay off 128 employees
A Lululemon sign is seen at a shopping mall in San Diego, California, U.S., November, 23, 2022. Mike Blake | ReutersLululemon is planning to shut down its Washington distribution center and lay off 128 employees after opening a massive new warehouse outside of Los...
FAA will require more rest time for air traffic controllers
An American Airlines Airbus A319 airplane takes off past the air traffic control tower at Ronald Reagan Washington National Airport in Arlington, Virginia, January 11, 2023Saul Loeb | AFP | Getty ImagesThe head of the Federal Aviation Administration on Friday said the...
Procter & Gamble (PG) Q3 2024 earnings
In this photo illustration, Pantene and Head & Shoulders hair products are displayed on July 28, 2023 in San Anselmo, California. Justin Sullivan | Getty ImagesProcter & Gamble on Friday reported mixed quarterly results but raised its full-year earnings...
Nordstrom family tries again to take department store private
A sign marks the location of a Nordstrom store in a shopping mall on March 20, 2024 in Chicago, Illinois. Scott Olson | Getty ImagesThe Nordstrom family is once again considering taking the department store private and has formed a special committee to evaluate bids,...
What subscriber reporting change means
The best way to get investors to stop focusing on something is to stop telling them at all.Netflix said Thursday it will no longer report quarterly membership numbers and average revenue per membership starting in the first quarter of 2025.This is a significant change...
Mortgage rates hit highest level of the year, and could go even higher
Homes in Rocklin, California, on Tuesday, Dec. 6, 2022.David Paul Morris | Bloomberg | Getty ImagesThe average rate on the popular 30-year fixed mortgage crossed over 7% on April 1, according to Mortgage News Daily, and it just kept going. It now sits right around...
News on negotiations with ESPN, Warner Bros. Discovery
Los Angeles Lakers forward LeBron James, #23, during the NBA game between the Los Angeles Clippers and the Los Angeles Lakers at Crypto.com Arena in Los Angeles on Jan. 7, 2024.Jevone Moore | Icon Sportswire | Getty ImagesThe National Basketball Association's...
Netflix (NFLX) earnings Q1 2024
Rafael Enrique | Lightrocket | Getty ImagesLOS ANGELES — Netflix is due to report first-quarter earnings after the closing bell Thursday.The company's performance has been an anomaly in the streaming realm. While competitors struggle to turn profits, Netflix saw a 12%...
March homes sales dropped despite a surge in supply. Here’s why.
Prospective buyers attend an open house at a home for sale in Larchmont, New York, US, on Sunday, Jan. 22, 2023. Tiffany Hagler-Geard | Bloomberg | Getty ImagesSales of previously-owned homes dropped 4.3% in March compared with February, to a seasonally adjusted,...
Kam Ghaffarian sets his sights on the stars with space companies
Jeff Bezos wants to build permanent outposts on the moon and colonize space. Richard Branson wants to make spaceflight as commonplace as air travel. Elon Musk wants to settle Mars to make humanity multiplanetary.IBX's Kam Ghaffarian wants to go even further: the...
Alaska Airlines 2024 forecast tops estimates after loss from Boeing Max grounding
An Alaska Airlines Boeing 737 MAX 9 taxis at Seattle-Tacoma International Airport on March 25, 2024 in Seattle, Washington. Stephen Brashear | Getty ImagesAlaska Airlines forecast second-quarter and full-year earnings well ahead of estimates on Thursday thanks to...
Airline execs predict record summer, even more demand for first class
Travelers at LaGuardia Airport in New York on June 30, 2022.Leslie Josephs | CNBCWhile the aviation industry has been in the spotlight lately for a host of safety issues, airline executives say there is no sign of slowing demand for flights.United Airlines "as an...
Boeing faces scrutiny in Senate over aircraft safety and quality
US Senator Richard Blumenthal (L) greets Boeing engineer Sam Salehpour as he arrives to testify before the US Senate Homeland Security and Governmental Affairs Subcommittee on Investigations during a hearing on "Examining Boeing's Broken Safety Culture: Firsthand...
Former WWE CEO’s life after Janel Grant lawsuit
Vince McMahon (R) and Donald Trump attend a press conference about the WWE at the Austin Straubel International Airport on June 22, 2009 in Green Bay, Wisconsin.Mark A. Wallenfang | Getty ImagesAs he faces a mountain of legal woes, former WWE leader Vince McMahon is...
Comcast launches NOW, prepaid and month-to-month internet, phone plans
Mateusz Slodkowski | Lightrocket | Getty ImagesComcast announced Wednesday that it is launching a prepaid and month-to-month low-cost internet and phone plan program called NOW.The new plan is designed to be simple for customers to opt into or cancel at any time using...
Eli Lilly’s Zepbound, Mounjaro in short supply through June, FDA says
An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023. Brendan McDermid | ReutersMost doses of Eli Lilly's highly popular weight loss drug Zepbound and diabetes counterpart Mounjaro will be in short supply...
Eli Lilly weight loss drug Zepbound effective in sleep apnea trials
An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023. Brendan McDermid | ReutersEli Lilly on Wednesday said its highly popular weight loss drug Zepbound showed the potential to treat patients with the most...
Superyacht sales plunge as Russian oligarchs drop out of the market
A water slide on Savannah, a 274-foot hybrid superyacht.Courtesy of Northrup & JohnsonA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive...
United Airlines (UAL) 1Q 2024 earnings
A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport.Justin Sullivan | Getty ImagesUnited Airlines on Tuesday cut its aircraft-delivery expectations for the year as it grapples with delays from Boeing, the latest airline to face...
Republican governors condemn United Auto Workers campaigns
Striking United Auto Workers members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan, on Sept. 29, 2023.Rebecca Cook | ReutersDETROIT – Republican governors of six states on Tuesday condemned the United Auto Workers' push to organize...
Planet Fitness names new CEO, shares fall
A portrait of Colleen Keating.Courtesy of Planet FitnessPlanet Fitness announced Tuesday that Colleen Keating will take over as the fitness club's new CEO, effective June 10.Craig Benson, who has been serving as interim CEO since the departure of Chris Rondeau in...
South Carolina coach Dawn Staley calls for women’s sports investment
Dawn Staley just finished leading South Carolina's undefeated season and witnessing the end of Caitlin Clark's record-breaking college career — and she thinks women's basketball is only getting started."I think we are in a moment ... from a place where our game has...
TGI Fridays to go public through merger with its U.K. franchisee
TGI Fridays logo is seen on one of their branches. John Lamparski | Lightrocket | Getty ImagesTGI Fridays and Hostmore, the chain's U.K. franchisee, announced plans to merge on Tuesday.The all-share deal is valued at 177 million pounds ($220 million). If it closes,...
VW workers to vote on joining UAW union in Tennessee
A Volkswagen automobile assembly plant is seen on March 20, 2024 in Chattanooga, Tennessee.Elijah Nouvelage | Getty ImagesDETROIT — Volkswagen workers in Chattanooga, Tennessee, will vote this week on whether to organize with the United Auto Workers in a key test of...
Johnson & Johnson (JNJ) earnings Q1 2024
An entry sign to the Johnson & Johnson campus shows their logo in Irvine, California on August 28, 2019.Mark Ralston | AFP | Getty ImagesJohnson & Johnson on Tuesday reported first-quarter adjusted earnings that topped Wall Street's expectations as sales in...
Morgan Stanley (MS) earnings Q1 2024
Ted Pick, CEO Morgan Stanley, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024.Adam Galici | CNBCMorgan Stanley is set to report first-quarter earnings before the opening bell Tuesday. Here's what Wall...
Bank of America (BAC) earnings Q1 2024
Bank of America Chairman and CEO Brian Thomas Moynihan testifies during a Wall Street oversight hearing by the Senate Banking, Housing, and Urban Affairs committee on Capitol Hill in Washington, DC, December 6, 2023. Saul Loeb | AFP | Getty ImagesBank of America is...
Boeing defends 787 Dreamliner safety after whistleblower claims
An employee works on the tail of a Boeing Co. Dreamliner 787 plane on the production line at the company's final assembly facility in North Charleston, South Carolina.Travis Dove | Bloomberg | Getty ImagesBoeing on Monday defended the quality and safety testing on its...
Peloton removes free app membership
A stationary bicycle inside of a Peloton store is pictured in the Manhattan borough of New York City, U.S., January 25, 2022. Carlo Allegri | ReutersPeloton has quietly removed its unlimited free-membership tier on its fitness app less than a year after it debuted...
UnitedHealth Q1 results: Change cyberattack in focus
Omar Marques | Lightrocket | Getty ImagesUnitedHealth Group's first-quarter earnings call will mark the health care giant's first major public comments since a cyberattack on its Change Healthcare billing and payments subsidiary in February, which has led to the...
State tax officials use AI to go after wealthy payers
Photo Of Robot Examining Invoice With Magnifying Glass.Andreypopov | Istock | Getty ImagesEven as the IRS makes headlines for cracking down on the wealthy, state tax collectors have become even more aggressive with audits of high earners, according to tax attorneys...
World’s busiest airport rankings for 2023
British Airways Airbus A319 aircraft takes off from Heathrow Airport in London, Britain, May 17, 2021. John Sibley | ReutersInternational travel roared back last year, pushing airports from London to Tokyo up in a global ranking of passenger traffic.Dubai...
Goldman Sachs (GS) earnings Q1 2024
David Solomon, Chairman & CEO Goldman Sachs, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBCGoldman Sachs is scheduled to report first-quarter earnings before the opening bell...
Why Hawaii is becoming a leader in U.S. EV adoption
Customers admire a Tesla Model 3 electric vehicle at a Tesla store in Honolulu, Hawaii. Alex Tai | SOPA Images | Lightrocket | Getty ImagesU.S. consumers have been making the move to all-electric vehicles more slowly than many expected — but a growing leader in EV...
Macy’s, Arkhouse take-private fight continues after proxy settlement
Shopping bags in front of the Macy's Inc. flagship store in the Herald Square area of New York, US, on Monday, Nov. 13, 2023. US holiday sales will grow at a slower pace this year amid economic headwinds such as higher interest rates, the National Retail Federation...
StubHub eyes summer IPO, seeks $16.5 billion valuation
The StubHub logo is seen at its headquarters in San Francisco.Andrej Sokolow | Picture Alliance | Getty ImagesStubHub is eyeing a summer initial public offering, a person familiar with the matter told CNBC.The online ticketing service is aiming for a valuation of at...
Nike CEO blames remote work for innovation slowdown
Nike President and CEO John Donahoe.Source: NikeNike CEO John Donahoe on Friday blamed remote work for the company falling behind on innovation, saying that it's tough to be disruptive when people are working from home. In an interview with CNBC's Sara Eisen from...
Nike CEO acknowledges it went too far in direct push
Illuminated trademark of the American athletic footwear and apparel corporation Nike, Inc. seen on the Nike Store window in Antwerp, Belgium. (Photo by Karol Serewis/SOPA Images/LightRocket via Getty Images)Karol Serewis | Lightrocket | Getty ImagesNike CEO John...
NIL-era college athletes navigate new realm of financial literacy
Caitlin Clark of the Iowa Hawkeyes waves to the crowd during senior day festivities after the match-up against the Ohio State Buckeyes at Carver-Hawkeye Arena on March 3, 2024 in Iowa City, Iowa.Matthew Holst | Getty Images Sport | Getty ImagesThree years after three...
Weight loss, diabetes drugs not linked to suicidal thoughts: EU probe
Boxes of Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. Hollie Adams | ReutersEuropean Union drug regulators found no evidence that highly popular weight loss and diabetes drugs such as Wegovy and Ozempic are linked to an...
Citigroup (C) earnings Q1 2024
Jane Fraser, CEO of Citi, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 1, 2023. Patrick T. Fallon | AFP | Getty ImagesCitigroup on Friday posted first-quarter revenue that topped analysts' estimates, helped by...
Ford prepares to resume shipments, drops some prices
The F-150 Lightning on display at the New York International Auto Show on March 28, 2024. Danielle DeVries | CNBCDEARBORN, Mich. — Ford Motor is lowering the starting prices of some all-electric F-150 Lightning pickup trucks as it prepares to resume shipping the...
JPMorgan Chase (JPM) earnings Q1 2024
Jamie Dimon, President and CEO of JPMorgan Chase, speaking on CNBC's "Squawk Box" at the World Economic Forum Annual Meeting in Davos, Switzerland, on Jan. 17, 2024.Adam Galici | CNBCJPMorgan Chase is scheduled to report first-quarter earnings before the opening bell...
High interest rates set to pressure small players
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 7, 2024.Brendan Mcdermid | ReutersThe benefits of scale will never be more obvious than when banks begin reporting quarterly results on Friday.Ever since the chaos of last...
Ohtani translator accused of stealing $16 million from Dodgers star
Shohei Ohtani answers questions and Ippei Mizuhara translates during the Shohei Ohtani Los Angeles Dodgers Press Conference at Dodger Stadium on Thursday, December 14, 2023 in Los Angeles, California. Rob Leiter | Major League Baseball | Getty ImagesShohei Ohtani's...
Why car insurance costs are skyrocketing, leading to higher inflation
RobertCrum | Getty ImagesDETROIT – Skyrocketing auto insurance costs helped contribute to inflation accelerating at a faster-than-expected pace in March and are adding to the ever more expensive costs for U.S. vehicle owners.On a monthly basis, car insurance prices as...
Moderna halts Kenya vaccine plant plans as Covid shot demand plunges
A nurse prepares a dose of Moderna Covid-19 vaccine at Oltepesi Dispensary in Kajiado, Kenya, on September 9, 2021.Patrick Meinhardt | AFP | Getty ImagesModerna on Thursday said it has paused plans to build a vaccine manufacturing site in Kenya after a steep drop in...
Denver-Boulder area benefits from burgeoning aerospace industry
These giant white structures called radomes at Buckley Space Force Base in Colorado house massive satellite dishes.CNBCThis story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an...
Buffalo Wild Wings Go format grows as more sales move off premise
A sign is seen on a Buffalo Wild Wings restaurant on November 28, 2017 in Miami, Florida. Joe Raedle | Getty Images News | Getty ImagesBuffalo Wild Wings opened its 100th Go location on Wednesday in New York City, four years after unveiling the quick-service offshoot...
Goldman Sachs promotes Carey Halio to global treasurer
Carey Halio, Goldman Sachs' head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter. Her new role, effective June 1, encompasses authority over the firm's more than $1.6 trillion...
Sierra Space CEO talks IPO plans, satellite launch and Dream Chaser
A render of Sierra Space's Velocity satellite busCredit: Sierra SpaceAmid preparations for its spaceplane's maiden flight and an initial public offering as soon as next year, Sierra Space is expanding its satellite offerings. Ahead of the much-anticipated solar...
Store credit cards deal department stores another revenue squeeze
A customer uses a credit card to pay for items January 28, 2022 at a retail shop in New York City. Robert Nickelsberg | Getty ImagesDepartment stores like Macy's and Kohl's have long used store-branded credit cards to drive purchases and get a cut of cash. Starting...
Macy’s settles proxy fight with activist Arkhouse, adds two directors
Macy's flagship store in Herald Square in New York, Dec. 23, 2021.Scott Mlyn | CNBCDepartment store Macy's on Wednesday said it had settled its proxy fight with an activist group led by Arkhouse Management, and that it would add two new directors to its 15-person...
Top 10 fastest-growing retail brands in the U.S., according to Yelp
The new restaurant in your neighborhood may look familiar.Chains owned by publicly traded restaurant companies accounted for half of the top 10 fastest-growing retail brands in the U.S. last year, according to a new Yelp report.Review site Yelp compiled the list by...
Rich Americans get second passports, citing risk of instability
Thomas Kokta | Photographer's Choice Rf | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your...
Delta Air Lines (DAL) Q1 2024 earnings
An Airbus A330-941 is being delivered to Delta Air Lines, flying from Toulouse Blagnac Airport to Atlanta, in Toulouse, France, on December 8, 2023. JoanValls | Nurphoto | Getty ImagesDelta Air Lines swung to a profit in the first quarter and its CEO Ed Bastian said...
NYCB is paying the nation’s highest interest rate (APY)
A New York Community Bank stands in Brooklyn on February 08, 2024 in New York City. Spencer Platt | Getty ImagesNew York Community Bank, the regional lender that needed a $1 billion-plus lifeline last month, is offering the country's highest interest rate for a...
New off-road SUV will include a hybrid engine
2025 Toyota 4Runner TRD ProToyotaToyota Motor revealed a new 4Runner SUV for the first time in nearly 15 years — completing a recent redesign of the automaker's current trucks and SUVs.Aside from its new looks, which are similar to the recently redesigned Toyota...
J&J cell therapy gains edge over Bristol Myers rival
Jonathan Raa | Nurphoto | Getty ImagesThink a friend or colleague should be getting this newsletter? Share this link with them to sign up.Hi folks! Two competing cell therapies from Bristol Myers Squibb and Johnson & Johnson both got good news from the Food and...
Former Bowlero exec says company threatened to report him to FBI
The Bowlero location at Chelsea Piers in New York City.CNBCA former executive at Bowlero, the world's largest owner and operator of bowling centers, has asked a court's permission to countersue his former employer for extortion and retaliation, after an executive on a...
GM’s Cruise to relaunch vehicles with human drivers in Phoenix
A Cruise vehicle in San Francisco on Feb. 2, 2022.David Paul Morris | Bloomberg | Getty ImagesGeneral Motors' Cruise self-driving vehicle unit will redeploy cars on U.S. roadways for the first time since October, beginning with a small fleet of human-driven vehicles...
Boeing airplane deliveries drop during Q1 amid safety crisis
Boeing 737 MAX airplanes are pictured outside a Boeing factory on March 25, 2024 in Renton, Washington. Stephen Brashear | Getty ImagesBoeing airplane deliveries dropped in the first quarter to the lowest number since mid-2021 as the company faces increased scrutiny...
Barstool’s Dave Portnoy won $2.7 million on UConn NCAA bet
Barstool founder and CEO Dave Portnoy is seen before the Florida Atlantic Owls and Loyola (Il) Ramblers game in the Barstool Invitational at Wintrust Arena on November 8, 2023 in Chicago, Illinois. Michael Hickey | Getty ImagesBarstool Sports founder Dave Portnoy is...
Pfizer RSV vaccine may protect high-risk adults ages 18-59
Respiratory syncytial virus - viral vaccine under researchHailshadow | Istock | Getty ImagesA vaccine from Pfizer showed the potential to protect adults ages 18 to 59 who are at increased risk of getting severely sick from respiratory syncytial virus in a late stage...
GM 2025 Buick Enclave SUV upgrades and design
WARREN, Mich. — General Motors has redesigned Buick's flagship Enclave SUV as the latest testament to the automaker's ongoing reinvention of the roughly 125-year-old brand.The updates to the 2025 Enclave — from new tech to exterior to interior redesigns — complete...
3G Capital quietly exited its Kraft Heinz investment last year
Brazilian private equity firm 3G Capital quietly sold off its 16.1% stake in Kraft Heinz in the fourth quarter, nearly nine years after masterminding the blockbuster merger of Kraft Foods and Heinz with Warren Buffett.The sale marks the end of an era for 3G. The...
Denver and its craft breweries embrace nonalcoholic beer, spirits
Denver Beer Co.Courtesy: Denver Beer Co.This story is part of CNBC's new quarterly Cities of Success series, which explores cities that have been transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and...
Boulder, Colorado, fosters a new generation of wellness entrepreneurs
Boulder is the No. 2 U.S. city for quality of life, according to U.S. News and World Report.Denistangneyjr | E+ | Getty ImagesThis story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an...
Iowa-South Carolina NCAA women’s final draws 18.7 million viewers
March Madness branded Powerade bottles before the game between the Maryland Terrapins and the South Carolina Gamecocks during the Elite Eight round of the 2023 NCAA Women's Basketball Tournament held at Bon Secours Wellness Arena in Greenville, South Carolina, on...
Denver-Boulder aims to be Silicon Valley of the future
An Atom Computing employee engaged in work on a computer screen.CNBCThis story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and...
Solar eclipse flights swarm small airports
General view of the sunset on the boardwalk ahead of this Monday's eclipse on April 07, 2024 in Mazatlan, Mexico. Hector Vivas | Getty ImagesMonday's solar eclipse is giving some of the country's smaller airports their moment in the sun.The Federal Aviation...
Three booming businesses that make Denver stand out
A concert venue built into a natural rock formation outside of Denver, COAmy Sparwasser | iStock Editorial | Getty ImagesThis story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an...
Jamie Dimon annual shareholder letter highlights AI potential
Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesJamie Dimon, the...
Spirit Airlines will defer Airbus orders, furlough 260 pilots
A Spirit Airlines aircraft undergoes operations in preparation for departure at the Austin-Bergstrom International Airport on February 12, 2024 in Austin, Texas. Brandon Bell | Getty ImagesSpirit Airlines said Monday that it will defer deliveries of new Airbus planes...
Record funding propels Denver-Boulder’s life sciences market
This story is part of CNBC's quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees.The Denver-Boulder region is rapidly emerging as a major...
Disney parks are its top money maker; it’s spending to keep it that way
Visitors wearing emblematic Mickey Mouse and Minnie Mouse ears walk in front of the Sleeping Beauty-inspired castle at Disneyland Paris, Oct. 16, 2023.Ian Langsdon | Afp | Getty ImagesThree years ago, Josh D'Amaro stood in a nearly empty Disneyland.The California...
Gatorade expands into new products including plain water
As Gatorade approaches its 60th birthday, the brand is staying spry, branching out into new categories from unflavored water to energy drink mixes.Since its founding in 1965, Gatorade has been the dominant sports drink. It accounted for 63.5% of the U.S. sports drink...
Boeing CEO Calhoun took home $5M last year ahead of 737 Max crisis
Boeing CEO Dave Calhoun speaks with reporters on Capitol Hill in Washington, D.C., before meeting with a group of senators on Jan. 24, 2024.Jim Watson | AFP | Getty ImagesOutgoing Boeing CEO Dave Calhoun's take-home pay fell to $5 million last year after declining a...
‘Mandalorian & Grogu,’ ‘Toy Story 5’ and another ‘Tron’
The Mandalorian and the Child on Disney+'s "The Mandalorian."DisneyThe Walt Disney Company's new theatrical slate unveiled Friday will feature the dynamic duo of the Mandalorian and Grogu, a fifth "Toy Story" film and another "Tron" flick before the end of 2026.The...
Details of David Ellison bid
Shari Redstone, president of National Amusements, speaks at the WSJ Tech Live conference in Laguna Beach, California, on Oct. 21, 2019.Mike Blake | ReutersSkydance Media's offer to acquire National Amusements and merge its studio with Paramount Pictures isn't a...
Spire Global, Nvidia see potential in using AI to help predict weather
Spire Global at the New York Stock Exchange, August 17, 2021.Source: NYSEArtificial intelligence has been instrumental to weather forecast modeling for years. Recent breakthroughs in generative AI dangle the possibility of it finally becoming more accurate.That's what...
Hyundai’s Genesis brand is a dark horse in U.S. luxury vehicle market
NEW YORK — When Hyundai Motor launched its Genesis luxury brand domestically in 2016, many were skeptical the South Korean automaker — recognized mainly for budget vehicles at the time — knew what it was doing.Among the skeptics were auto industry veterans Randy...
Many CVS drug plans will cover OTC birth control pill Opill at no cost
In this photo illustration, a package of Opill is displayed on March 22, 2024 in San Anselmo, California. Justin Sullivan | Getty ImagesCVS Health on Thursday said its drug plans will cover the first over-the-counter birth control pill in the U.S. at no cost for many...
Drug similar to Ozempic slowed Parkinson’s disease in small trial
The coronal view of a human brain of a patient suffering from Parkinson's diseaseSherbrooke Connectivity Imaging Lab | Getty ImagesA highly popular class of drugs for diabetes and obesity is showing early potential to help patients with Parkinson's disease, too. An...
Alaska Airlines says Boeing paid it $160 million for 737 Max 9 grounding
The fuselage plug area of Alaska Airlines Flight 1282 Boeing 737-9 MAX, which was forced to make an emergency landing with a gap in the fuselage, is seen during its investigation by the National Transportation Safety Board (NTSB) in Portland, Oregon, U.S. January 7,...
Paramount stock slumps on reports of equity raise for merger
Paramount Global's stock slumped 8% on Thursday after CNBC's David Faber reported the company would need to raise as much as $3 billion in new equity if it were to merge with David Ellison's Skydance Media, according to sources familiar with the deal.This deal comes...
Bob Iger discusses proxy fight with Nelson Peltz after board vote
Nelson Peltz's proxy battle was a "distraction," and Disney can now focus on trying to turn a streaming profit and planning succession, its CEO Bob Iger said on CNBC's "Squawk on the Street" on Thursday, just one day after handing a stinging defeat to the activist...
Retailers like Peloton, Saks, Express are late on vendor bills
A person walks past a sales advertisement at Saks Off 5th department store ahead of the Thanksgiving holiday sales in Washington, D.C., on Nov. 21, 2023.Saul Loeb | AFP | Getty ImagesIn the months before Bed Bath & Beyond declared bankruptcy last April, the former...
Shares of Levi Strauss surge 18% on Q1 2024 earnings
The Levi Strauss & Co. label is seen on clothes in a store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. Andrew Kelly | ReutersShares of Levi Strauss surged 18% on Thursday after the retailer raised its full-year...
Ford to delay all-electric SUV to focus on hybrid vehicles
Ford CEO Jim Farley at a battery lab for the automaker in suburban Detroit, announcing a new $3.5 billion electric vehicle battery plant in the state to produce lithium iron phosphate batteries, Feb. 13, 2023.Michael Wayland/CNBCDETROIT – Ford Motor is delaying...
Disney upends activist investor Nelson Peltz. Now it’s real work time
Bob Iger, CEO, Disney at the Allen & Company Sun Valley Conference on July 11, 2023 in Sun Valley, IdahoDavid A. Grogan | CNBCDisney shareholders overwhelmingly voted to keep the company's current board intact during Wednesday's annual meeting, suggesting they...
Levi Strauss (LEVI) earnings Q1 2024
Levi Strauss, which has long relied on wholesalers like Macy's and Kohl's to drive its business, is now doing nearly half of its sales through its own website and stores, the company said Wednesday when reporting fiscal first-quarter earnings. In the three months...
Shareholders vote on Nelson Peltz and Bob Iger
Bob Iger poses with Mickey Mouse attends Mickey's 90th Spectacular at The Shrine Auditorium on October 6, 2018 in Los Angeles.Valerie Macon | AFP | Getty ImagesDisney shareholders on Wednesday will settle a long-simmering proxy battle led by billionaire investor...
Ulta shares fall as CEO warns beauty demand is slowing
People walk past an Ulta Beauty store in the Manhattan borough of New York City, New York, U.S., March 8, 2022. Carlo Allegri | ReutersUlta Beauty shares tumbled about 13% on Wednesday as CEO Dave Kimbell warned of cooling demand for beauty products.Other stocks in...
Vanguard voting for Iger over Peltz in Disney proxy fight: report
Bob Iger, CEO of The Walt Disney Company, speaks during the grand opening ceremony of Shanghai Disney Resort's Zootopia-themed attraction at Shanghai Disney Resort on December 19, 2023 in Shanghai, China.Visual China Group | Getty ImagesDisney's largest shareholder,...
Iowa-LSU game was biggest betting event for women’s sports
Caitlin Clark, #22 of the Iowa Hawkeyes, celebrates after beating the Lousiana State University Tigers 94-87 in the Elite Eight round of the NCAA Women's Basketball Tournament at MVP Arena in Albany, New York, on April 1, 2024.Andy Lyons | Getty ImagesThe superstar...
GM first-quarter U.S. vehicle sales fall 1.5%
The 2024 Buick Envista.GMDETROIT — General Motors on Tuesday reported a 1.5% decline in first-quarter U.S. vehicle sales compared to a year ago, as the overall auto industry normalizes after years of disruptions and volatile results.The Detroit automaker said the...
Silver Lake to take Endeavor private for $27.50 a share
Ariel Emanuel, Chief Executive Officer, Endeavor, at the New York Stock Exchange, April 29, 2021.Source: NYSEPrivate equity firm Silver Lake announced Tuesday that it's acquiring entertainment company Endeavor Group Holdings for $27.50 a share.Endeavor's stock rose...
High cost of upgrading to a nicer home is locking up the market
The Spring housing market is defying expectations that prices would cool and competition would ease. Higher mortgage rates usually cool both prices and demand, as they did last year, but that's not the case now. There are still too few homes for sale because current...
Health insurer stocks slide as Medicare Advantage rates disappoint
Signage is displayed on a Humana Inc. office building in Louisville, Kentucky, U.S., on Saturday, Feb. 2, 2019. Humana is scheduled to release earnings figures on February 6.Luke Sharrett | Bloomberg | Getty ImagesShares of U.S. health insurers fell on Tuesday after...
Bally’s shareholders wage battle over ownership, development projects
An exterior view shows the Tropicana Las Vegas at dusk on March 29, 2024 in Las Vegas, Nevada. David Becker | Getty ImagesAs the famous Tropicana in Las Vegas closes its doors Tuesday, its operator Bally's Corporation is facing its own existential battle. At stake:...
Disney cinematic drought primed Peltz proxy fight
Harrison Ford returns as Indiana Jones in "Indiana Jones and the Dial of Destiny."DisneyDisney has struggled to return to the lofty box office records of 2019 — and that may have helped open the door for its recent troubles with activist Nelson Peltz.Just four years...
Streaming platforms are shrinking their content libraries
Every day the streaming landscape is looking more and more like the beast it sought to slay — cable.Looming talks of platform bundles come as major streamers push ad-supported plans, limit password sharing and lean into live sports coverage. The goal of exponential...
Warner Bros. directors Miron, Newhouse resign after antitrust probe
The exterior of the Warner Bros. Discovery Atlanta campus is pictured after the Writers Guild of America began its strike against the Alliance of Motion Pictures and Television Producers, in Atlanta, Georgia, on May 2, 2023.Alyssa Pointer | ReutersTwo Warner Bros....
Target, Kohl’s, TJX could benefit
Signs are posted at the entrance to a Macy's store that is set to close at Bay Fair Mall on February 27, 2024 in San Leandro, California. Macy's announced plans to shutter 150 underperforming stores across the United States. Justin Sullivan | Getty Images News | Getty...
Other business may raise pay
An employee hands an order to a customer through a drive-thru window at a McDonald's restaurant in Oakland, California, April 9, 2020.David Paul Morris | Bloomberg | Getty ImagesAs fast-food chains in California start to pay their workers a higher minimum wage, other...
United asks pilots to take unpaid time off, citing Boeing delays
Boeing 787-10 Dreamliner, from United Airlines company, taking off from Barcelona airport, in Barcelona on 28th March 2023. JanValls | Nurphoto | Getty ImagesUnited Airlines is asking pilots to take unpaid time off next month, citing late-arriving aircraft from...
Dana Walden could defy critics and make history
Dana Walden, co-chair of Disney EntertainmentRich Polk | Getty ImagesIn 1994, a captain of the media and entertainment industry saw something in Dana Walden that made him think she was capable of a bigger role.Thirty years later, that may happen again.That first time,...
Toyota weighing electric, plug-in Tacoma and Tundra pickups
2024 Toyota Tacoma TrailhunterToyotaNEW YORK — Toyota Motor is evaluating an expansion of its U.S. truck lineup that could include all-electric or plug-in hybrid electric versions of its Tacoma and Tundra pickups.Jack Hollis, executive vice president of Toyota Motor...
Wealth of the 1% hits a record $44 trillion
Martin Puddy | Digitalvision | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The wealth...
Walgreens (WBA) earnings Q2 2024
A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021. Andrew Kelly | ReutersWalgreens on Thursday reported fiscal second-quarter sales that beat Wall Street's expectations, but lowered...
Home Depot acquiring SRS Distribution for $18.25 billion to grow pro sales
Home Depot on Thursday said it is acquiring SRS Distribution in a $18.25 billion deal, the latest and largest sign of its ambitions to drive sales by winning more business from contractors, roofers and other home professionals.The home improvement retailer expects the...
Hyundai may add hybrid production to $7.6 billion Georgia plant
Hyundai CEO Jae Hoon Chang (left) and José Muñoz, Hyundai president and global chief operating officer, attend the 2024 New York International Auto ShowMichael Wayland | CNBCNEW YORK – Hyundai Motor is reevaluating its plans to exclusively produce all-electric...
Altimmune weight loss drug minimized muscle mass loss in trial
Daniel Grill | Tetra Images | Getty ImagesAltimmune on Wednesday said its experimental drug helped patients shed weight, but also minimized the loss of muscle mass in a mid-stage trial, a finding that could potentially set it apart in a potentially crowded...
Novo Nordisk Ozempic can be made for less than $5 a month: Study
A box of Ozempic and contents sit on a table in Dudley, North Tyneside, Britain, October 31, 2023. Lee Smith | ReutersThe blockbuster diabetes drug Ozempic could be manufactured for less than $5 a month, even as Novo Nordisk charges close to $1,000 per month for the...
Largest U.S. sportsbooks join forces to tackle problem gambling
FanDuel, DraftKings and other online gambling apps are displayed on a phone in San Francisco, on Sept. 26, 2022.Jeff Chiu | APSeven of the nation's largest gaming companies are joining forces to create a trade group to promote responsible gaming, and for the first...
BJ’s Wholesale, Costco and Sam’s rival, will open clubs in Southeast
A BJ's Wholesale Club is shown in Falls Church, Virginia, May 23, 2023.Win Mcnamee | Getty ImagesBJ's Wholesale Club said Wednesday that it will open four clubs in the Southeast and one in the Midwest this year, as it tries to expand and attract members in other parts...
Ford Mustang has opportunity as competitors abandon V8 engines
2024 Ford MustangSource: FordDETROIT — Ford Motor sees opportunity to grow Mustang sales as it becomes the last American muscle car with a traditional V8 engine, playing to generations of gearheads who've been drawn to the performance vehicles.The optimism comes after...
Moderna moves three vaccines into final stage trials
Nikos Pekiaridis | Lightrocket | Getty ImagesModerna has more to offer beyond its Covid vaccine.The biotech company made that clear on Wednesday, announcing positive clinical trial data on three experimental vaccines for other diseases. The company is moving those...
FDA approves Merck drug sotatercept for rare, deadly lung condition
The Food and Drug Administration on Tuesday approved a drug from Merck designed to treat a progressive and life-threatening lung condition in a win for both the drugmaker and for patients suffering from the rare disease.The agency greenlighted the therapy, which will...
Hyundai’s Genesis previews all-electric SUV concept, the Neolun
Genesis Neolun ConceptGenesisNEW YORK – Hyundai's Genesis is previewing the future of the growingly prominent luxury brand with a new large all-electric concept vehicle called the Neolun.The full-size SUV features a sleek exterior design illuminated by long horizontal...
Canada Goose to cut 17% of its corporate workforce
Canada Goose parkas hang on display at a store in Richmond Hill, Ontario.Chris So | Toronto Star | Getty ImagesCanada Goose said Tuesday that it will cut about 17% of its corporate workforce, following a string of other retailers that have laid off employees this year...
Viking Therapeutics weight loss pill shows positive study results
Alexey Krukovsky | Istock | Getty ImagesViking Therapeutics shares jumped more than 25% on Tuesday after the company said its experimental weight loss pill showed positive results in a small study and will enter the next stage of development later this year.The study...
Here’s who could replace Calhoun at the plane maker
An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019.Lindsey Wasson | ReutersHelp wanted at Boeing.CEO Dave Calhoun on Monday announced he is stepping down from the aerospace giant's top...
McDonald’s to sell Krispy Kreme doughnuts nationwide by end of 2026
McDonald's is planning to sell Krispy Kreme doughnuts at its restaurants nationwide by the end of 2026, the chains announced Tuesday.The rollout will start in the second half of this year, but it will take roughly two and a half years as Krispy Kreme more than doubles...
Vacation home co-ownership site Pacaso adds lower-priced listings
Luxury vacation home co-ownership platform Pacaso is attempting to appeal to the masses, as it grows its business during a pricey and competitive phase of the housing market.The company, which launched in 2020 with multimillion-dollar homes listed for co-ownership, is...
Ford, GM, Stellantis to benefit from Biden emissions rules
President Joe Biden speaks at the United Auto Workers political convention at the Marriott Marquis in Washington, D.C., Jan. 24, 2024.Saul Loeb | AFP | Getty ImagesDETROIT — The Biden administration's decision to ease its timeline for all-electric vehicle adoption and...
How much people are willing to spend
Boxes of Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. Hollie Adams | ReutersDemand for weight loss drugs is booming in the U.S. despite their limited insurance coverage and roughly $1,000 monthly price tags before discounts. But...
Amgen aims to enter weight loss drug market with a new approach
The Amgen logo is displayed outside Amgen headquarters on May 17, 2023 in Thousand Oaks, California.Mario Tama | Getty ImagesAmgen is taking a new approach as it tries to stand out in a crowded field of drugmakers racing to develop the next blockbuster weight loss...
Nelson Peltz withholds votes from Disney CEO Bob Iger in proxy battle
Nelson Peltz, founder and chief executive officer of Trian Fund Management, during the Future Investment Initiative (FII) Institute Priority Summit in Miami, Florida, US, on Thursday, March 30, 2023.Marco Bello | Bloomberg | Getty ImagesNelson Peltz's Trian Management...
Boeing CEO Dave Calhoun to step down; board chair and commercial head replaced
Boeing CEO Dave Calhoun speaks to reporters as he departs from a meeting at the office of Sen. Mark Warner (D-VA) on Capitol Hill January 24, 2024 in Washington, DC. Anna Moneymaker | Getty ImagesBoeing CEO Dave Calhoun will step down at the end of 2024 in part of a...
Chrysler parent Stellantis laying off 400 salaried U.S. workers
The Stellantis sign is seen outside the FCA Headquarters and Technology Center in Auburn Hills, Michigan, on Jan. 19, 2021.Jeff Kowalsky | Afp | Getty ImagesDETROIT – Stellantis is laying off roughly 400 salaried employees in the U.S. in its engineering, technology...
The U.S. is the top country for millionaires and billionaires
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The U.S. has rapidly overwhelmed China as the world's...
NBC Paris Olympics opening ceremony to play on IMAX
A view shows the logo of the Paris 2024 Olympic and Paralympic Games, in Paris, France, March 19, 2024. Benoit Tessier | ReutersMany of the world's greatest athletes will make their big-screen debut in IMAX theaters this summer.NBC announced Friday that its live...
Fanatics fires back at DraftKings’ claims of corporate espionage
Fanatics founder and CEO Michael Rubin at his office in New York.The Washington Post | Getty ImagesSports merchandise giant Fanatics is firing back against sportsbook giant DraftKings in an ongoing legal fight over Fanatics' hiring of a top DraftKings executive.In a...
BYD Seagull EV puts global auto execs, politicians on edge
A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai)Vcg | Visual China Group | Getty ImagesLIVONIA, Mich. – A small electric vehicle is having a...
United Airlines starts letting customers pool frequent flyer miles
Passengers check in for United Airlines flights at O'Hare International Airport in Chicago, Illinois, Dec. 13, 2022.Scott Olson | Getty ImagesHere's a friendship test: Would you share your frequent flyer miles with your pals? United Airlines is betting customers will...
Lululemon (LULU) earnings Q4 2023
Lululemon on Thursday reported holiday earnings that topped expectations, but the athletic apparel retailer's guidance came in below estimates as its growth in North America stagnates.Here's how the company did in its fourth fiscal quarter compared with what Wall...
Nike (NKE) earnings Q3 2024
Nike's China sales continued to slow during its holiday quarter, but the retailer beat estimates on the top and bottom line, helped by better than expected growth in North America and price changes.Here's how the company performed in its fiscal 2024 third quarter...
Medicare can cover weight loss drugs if used for added health benefit
Boxes of Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. Hollie Adams | ReutersMedicare can start covering certain weight loss drugs for the first time – as long as they are approved for an added health benefit, the Centers for...
Target doubles bonuses for salaried employees as profits recover
A Target store in New York, US, on Monday, March 4, 2024. Shelby Knowles | Bloomberg | Getty ImagesTarget will double its bonus payments to salaried employees this year, as the big-box retailer's profits recover from a bumpy nearly two-year stretch.Salaried employees...
The top 10 richest cities in America
A new report found that New York City is the no. 1 place for ultra-high-net-worth individuals to own a property.Alexander Spatari | Moment | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to...
Intuitive Machines (LUNR) Q4 results: Improved cash position, backlog
The IM-1 lander "Odysseus" in lunar orbit on Feb. 21, 2024.Intuitive MachinesIntuitive Machines is building on the successes of its inaugural moon mission, reporting fourth-quarter results on Thursday and saying it now has "sufficient capital for the near term."The...
Advisory firm ISS backs Nelson Peltz
The Walt Disney company logo is displayed on the floor of the New York Stock Exchange during morning trading on Dec. 1, 2023.Michael M. Santiago | Getty ImagesProxy advisory firm Institutional Shareholder Services on Thursday recommended that Walt Disney shareholders...
February home sales spike 9.5% as supply improves
A "Sale Pending" sign in front of a home in Pinole, California, US, on Tuesday, Dec. 26, 2023.David Paul Morris | Bloomberg | Getty ImagesSales of existing homes surged 9.5% in February from January to 4.38 million units, on a seasonally adjusted annualized basis,...
Darden Restaurants (DRI) Q3 2024 earnings
A Ruth's Steak House restaurant on May 03, 2023 in Miami, Florida. Darden Restaurants said Wednesday it is buying Ruth’s Hospitality Group, the parent company of Ruth’s Chris Steak House, for $715 million. Joe Raedle | Getty ImagesDarden Restaurants on Thursday...
ESPN executives talk streaming plans in CNBC documentary
Disney's ESPN is at a crossroads.For more than 40 years, the world's largest all-sports network has grown annual revenue by increasing cable subscription fees. ESPN first charged pay-TV distributors less than $1 per month per subscriber in the 1980s. In 2023, ESPN's...
Ex-Disney CEO Bob Chapek says ESPN doesn’t need strategic partners
Bob Chapek, chief executive officer of Disney, speaks at the 2022 Disney Legends Awards during Disney's D23 Expo in Anaheim, California, Sept. 9, 2022.Mario Anzuoni | ReutersIn his first public comments since Disney fired him as CEO in November 2022, Bob Chapek told...
Sotheby’s holds sports auctions with Jordan, Ali, Kobe items
MJ 1996 Air Jordans.Photo: Amanda BassSotheby's is increasing its sports offerings, as the auction house looks to capitalize on the growing demand for sports memorabilia and draw in a younger demographic.The company on Wednesday announced its first "Sports Week,"...
JetBlue cuts routes spanning LAX, South America
A JetBlue Airways plane prepares to take off from the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on Jan. 31, 2024.Joe Raedle | Getty ImagesJetBlue Airways told staff on Tuesday that it is culling a host of routes, making it the...
George Lucas backs Disney CEO Bob Iger in Nelson Peltz proxy fight
Filmmaker and Hollywood legend George Lucas is throwing his support behind Walt Disney CEO Bob Iger in the bitter proxy battle between the company and activist investor Nelson Peltz.Lucas, who received 37.1 million Disney shares as part of Disney's $4.05 billion...
Nordstrom reportedly trying to go private
Shoppers exit the Nordstrom at the Westfield Topanga mall in Canoga Park, California, on Aug. 14, 2023.Christina House | Los Angeles Times | Getty ImagesNordstrom shares jumped more than 10% on Tuesday following a report that the department store chain is attempting...
ICON’s Vitruvius AI program designs dream homes
Artificial intelligence is moving into the housing space, specifically architecture.ICON, which developed one of the first fully 3D-printed housing developments in the U.S., is taking automation another step further. It recently unveiled what it calls Vitruvius, an AI...
Where cracks in the banking sector may appear without more M&A
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 7, 2024.Brendan Mcdermid | ReutersThe forces that consumed three regional lenders in March 2023 have left hundreds of smaller banks wounded, as merger activity — a key...
Bentley delays all-EV plan past 2030 amid vehicle development issues
Bentley Continental GTC Speed in Kingfisher.Adam Jeffery | CNBCBentley Motors is pushing back its plans to exclusively offer all-electric vehicles by the end of this decade due to changing market conditions and a delay in its first EV.CEO Adrian Hallmark said the...
Audi reveals all-electric Q6 e-tron SUV, its first next-generation EV
The Audi SQ6 e-tron SUV.AudiAudi on Monday revealed its new all-electric Q6 e-tron SUV, the first production vehicle on its next-generation electric vehicle architecture.The Volkswagen-owned luxury carmaker says the new "Premium Platform Electric" opens up new levels...
UAW says VW workers at Tennessee plant file for union election
A VW EV ID.4 cross-over at Volkswagen of America plant in Chattanooga, TN, June 8, 2022.Michael Wayland | CNBCDETROIT – Volkswagen workers at a plant in Tennessee have filed a petition with the National Labor Relations Board for a vote to join the United Auto Workers,...
Homebuilder sentiment turns positive for the first time since July
U.S. homebuilders are feeling more confident about their businesses than they have since last summer, as they see better demand despite stubbornly high mortgage rates.Homebuilder sentiment rose 3 points in March to 51 on the National Association of Home Builders/Wells...
Wegovy heart health approval won’t mean broad insurance coverage yet
Victoria Klesty | ReutersIn the U.S., Wegovy is no longer just for weight loss.The blockbuster drug — one of a handful of weight loss treatments to skyrocket in popularity over the last year — is now approved in the U.S. for heart health, too. But that may not...
United CEO tries to reassure customers after string of flight problems
United Airlines president Scott Kirby speaking in Chicago, Illinois, June 5, 2019.Kamil Krzaczynski | ReutersUnited Airlines CEO Scott Kirby on Monday sought to reassure customers about the carrier's safety after a series of flight problems in recent weeks.In one...
Women’s sports executives weigh in on parity, media and NIL
Guard Caitlin Clark #22 of the Iowa Hawkeyes listens as the crowd cheers after breaking the NCAA women's all-time scoring record during the game against the Michigan Wolverines at Carver-Hawkeye Arena on February 15, 2024 in Iowa City, Iowa. Matthew Holst | Getty...
Beyoncé’s country songs are boosting streams for Black artists
Beyonce leaves the Luar fashion show at 154 Scott in Brooklyn during New York Fashion Week on February 13, 2024 in New York City. James Devaney | GC Images | Getty ImagesCountry music, meet Cowboy Carter.Superstar singer-songwriter Beyoncé Knowles is foraying into...
Wegovy heart health approval won’t mean broad insurance coverage yet
Victoria Klesty | ReutersIn the U.S., Wegovy is no longer just for weight loss.The blockbuster drug — one of a handful of weight loss treatments to skyrocket in popularity over the last year — is now approved in the U.S. for heart health, too. But that may not...
FDA approves NASH liver disease drug from Madrigal Pharmaceuticals
In this photo illustration, the Madrigal Pharmaceuticals logo is displayed on a smartphone screen. Rafael Henrique | SOPA Images | Lightrocket | Getty ImagesThe Food and Drug Administration on Thursday approved the first-ever treatment for a common and potentially...
Morgan Stanley names head of artificial intelligence, Jeff McMillan
The Morgan Stanley digital sign is seen at the company's Times Square headquarters in New York, U.S., on Friday, Jan. 12, 2016.John Taggart | Bloomberg | Getty ImagesMorgan Stanley promoted a tech executive in its wealth management division to become the bank's first...
Wall Street not happy that Kevin Plank returning as Under Armour’s CEO
The interior of an Under Armour store is seen on November 03, 2021 in Houston, Texas.Brandon Bell | Getty ImagesWall Street is not pleased that Under Armour's founder Kevin Plank is returning as its CEO. Shares of the athletic apparel company plunged about 12% on...
More charity money comes from ultra-wealthy
Bill and Melinda Gates brace the rain as they visit the township of Khayelitsha on October 25, 2019 in Cape Town, South Africa.Brenton Geach | Gallo Images | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a...
Home Depot to open distribution centers in home professional push
Home Depot said Thursday that it will open four new distribution centers as it chases more sales from remodelers, contractors and other home professionals. The new distribution centers are expected to open in the first half of the year in Detroit, Los Angeles, San...
SpaceX Starship rocket set for third test flight launch
[The livestream is slated to start at 8:52 a.m. ET. Please refresh the page if you do not see the video player above.]SpaceX is set to attempt a third test flight of its Starship rocket on Thursday, as the company looks to push development of the mammoth vehicle past...
Dick’s Sporting Goods (DKS) earnings Q4 2023
Dick's Sporting Goods logo is seen on the shop in Williston, United States on June 19, 2023. Jakub Porzycki | Nurphoto | Getty ImagesDick's Sporting Goods raised its dividend by 10% on Thursday as the company posted its largest sales quarter in its history and...
Kevin Plank returns as Under Armour CEO, Mohamed El-Erian named board chair
Kevin Plank, founder of Under Armour, during a CNBC interview on "Mad Money" on Feb. 28, 2018.Scott Mlyn | CNBCUnder Armour announced on Wednesday that CEO Stephanie Linnartz is stepping down from her role just over a year after she started, and founder Kevin Plank...
SpaceX cleared to attempt third Starship launch Thursday
SpaceX's next-generation Starship spacecraft atop its powerful Super Heavy rocket is prepared for a third launch from the company's Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, on March 13, 2024.Joe Skipper | ReutersElon Musk's SpaceX is...
Petco CEO Ron Coughlin steps down
Petco Health and Wellness Co. signage outside the Nasdaq MarketSite during the company's initial public offering (IPO) in New York, U.S., on Thursday, Jan. 14, 2021.Michael Nagle | Bloomberg | Getty ImagesPetco announced Wednesday that its CEO Ron Coughlin is stepping...
EV euphoria is dead. Automakers trumpet consumer choice in U.S.
Andrew Merry | Moment | Getty ImagesDETROIT — The buzz around electric vehicles is wearing off.For years, the automotive industry has been in a state of EV euphoria. Automakers trotted out optimistic sales forecasts for electric models and announced ambitious targets...
Eli Lilly taps Amazon Pharmacy to help deliver Zepbound, other drugs
Close-up of a hand holding a cellphone displaying the Amazon Pharmacy system, Lafayette, California, September 15, 2021. Smith Collection | Gado | Getty ImagesEli Lilly on Wednesday said Amazon Pharmacy will help send certain prescription drugs, including the red-hot...
Boeing Max problems shift growth plans at Southwest, United
An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019.Lindsey Wasson | ReutersBoeing's latest Max crisis is forcing some of its biggest customers to rethink their growth plans this year — and...
GM hires ex-Tesla, Google exec to lead manufacturing
General Motors Executive Vice President Global Manufacturing and Labor Relations Gerald Johnson (middle) watches as engineers and technicians set-up and test the machines that will be used to manufacture Level 1 face masks at a plant in Warren, Michigan.Photo by John...
Empty middle seats, more legroom
A Frontier Airlines plane lands at the McCarran International Airport in Las Vegas on Thursday, Feb. 27, 2020. Elizabeth Page Brumley | Tribune News Service | Getty ImagesFirst class on Frontier? Not quite. But the budget airline on Tuesday launched a new add-on to...
Airbus widens aircraft delivery lead
A Boeing 737 Max aircraft during a display at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022.Peter Cziborra | ReutersBoeing handed over 27 airplanes to its customers last month as it continues to struggle with quality-control problems...
Brooks Running CEO Jim Weber to step down
COO and President Dan Sheridan of Brooks RunningCourtesy: BrooksThe longtime CEO of Berkshire Hathaway's Brooks Running, Jim Weber, is stepping down after more than 20 years in the top job, the company will announce Tuesday. Brooks veteran Dan Sheridan, who started at...
Online marketplaces can do more to stop crime
Read CNBC's full investigation into the alleged organized theft groups that police say are stealing and reselling items from retailers including Ulta Beauty, T.J. Maxx and Walgreens.Faced with sophisticated organized retail crime rings that investigators say have...
Southwest Airlines cuts capacity, and rethinks 2024 financial forecast, citing Boeing problems
Boeing 737 MAX airplanes are seen parked at a Boeing facility on August 13, 2019 in Renton, Washington.David Ryder | Getty ImagesSouthwest Airlines said Tuesday that it will have to trim its capacity plans and reevaluate its financial forecasts for the year, citing...
Kohl’s (KSS) Q4 2023 earnings report, Babies R Us deal
Shoppers walk in front of a Kohl's store in Mount Kisco, New York.Scott Mlyn | CNBCKohl's said Tuesday that it's teaming up with the owner of Babies R Us to bring baby gear, furniture and more to approximately 200 of its stores across the country.The retailer struck a...
Inside organized crime rings targeting retailers Ulta, TJX, Walgreens
In a tony suburban enclave in the San Diego foothills, police say, an organized retail crime "queenpin" had built an empire.Tucked behind the stone walls of her 4,500-square-foot Spanish-style mansion, Michelle Mack had stockpiled a small fortune in cosmetics that had...
Lego 2023 revenue ticks higher, despite trade-downs and China slump
The Lego company grew sales 2% last year, even as the global toy industry saw sales slip 7%, according to data from Circana.The pandemic-era gains that fueled exponential toy industry sales growth waned in 2023 as consumers cut discretionary spending amid rising...
McDonald’s, Portillo’s, Dutch Bros. open restaurants in the Sun Belt
A Portillo's Beef Bus in Kissimmee, Florida.Source: Portillo'sWhen Chicago-based Portillo's enters a new market, it sends its "Beef Bus" ahead of time, slinging its hot dogs and Italian beef sandwiches to new customers for weeks, introducing them to the brand and...
How NWSL Commissioner Jessica Berman led the league out of crisis
Jessica Berman, commissioner of the National Women’s Soccer League, speaks during a panel on women's professional soccer at the Hilton Anatole in Dallas on Feb. 10, 2024.Omar Vega | Getty Images Sport | Getty ImagesAt 16 years old, Jessica Berman was one of those rare...
Pfizer is betting big on cancer drugs after Covid decline
Nurphoto | Nurphoto | Getty ImagesPfizer is ready to move on from Covid. Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. It just might take a while before that bet pays...
Novo Nordisk’s Wegovy wins FDA approval for heart health benefits
Injection pens of Novo Nordisk's weight-loss drug Wegovy are shown in this photo illustration in Oslo, Norway, Nov. 21, 2023.Victoria Klesty | ReutersThe Food and Drug Administration approved Novo Nordisk's blockbuster weight loss drug Wegovy for use in slashing the...
Terran Orbital CEO ‘looking at everything’ after Lockheed Martin takeover bid
Satellite manufacturer Terran Orbital is "looking at everything" regarding the company's future, CEO Marc Bell told CNBC, as it considers Lockheed Martin's acquisition offer."We found out about [Lockheed's takeover bid] when the rest of the world found out about it,"...
Weight loss pill could become a best-in-class drug
Novo Nordisk CEO Lars Fruergaard Jørgensen on Friday said the company's experimental weight loss pill, amycretin, could eventually become a best-in-class treatment for obesity. The Danish drugmaker is racing to capitalize on the runaway success of its blockbuster...
GM cuts Chevy Blazer EV price as sales restart after software issues
Chevrolet All-Electric Blazer EVScott Mlyn | CNBCDETROIT – General Motors is reducing the price of its new Chevrolet Blazer EV as it restarts sales of the vehicle Friday following an 11-week stoppage to address software issues.GM halted sales of the EV in late...
Family offices tripled, creating a new gold rush on Wall Street
Westend61 | Westend61 | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The number of...
Eli Lilly Alzheimer’s drug FDA approval delayed
Eli Lilly headquarters in Indianapolis, Indiana, US, on Wednesday, May 3, 2023. Eli Lilly & Co.'s shares climbed in early US trading after its experimental drug for Alzheimer's slowed the progress of the disease in a final-stage trial, paving the way for the...
Space company Astra going private to avoid bankruptcy
Rocket LV0006 tilts during liftoff.Astra / NASASpaceflightSpace company Astra will go private in a cut-rate deal with its founders after a dismal run as a publicly-traded stock.Astra co-founders Chris Kemp and Adam London – CEO and CTO, respectively – signed an...
Gap (GPS) earnings Q4 2023
A general view of an Old Navy store. Gap Inc.Gap's largest banner Old Navy returned to growth for the first time in more than a year during its holiday quarter as the retailer delivered earnings on Thursday that came in well ahead of Wall Street's expectations. Sales...
Costco (COST) Q2 2024 earnings
Mandel Ngan | Afp | Getty ImagesCostco on Thursday missed Wall Street's revenue expectations for its holiday quarter, despite reporting year-over-year sales growth and strong e-commerce gains.Shares of the retailer fell about 4% in aftermarket trading. The retailer's...
Walmart, Target and Kroger compete on grocery delivery
As retailers compete for grocery shoppers, some of the big names in the business have zeroed in on the same strategy: get deliveries to customers' doors quickly.This week, Target announced a new paid membership program with free same-day home deliveries as a key perk....
Starting price and performance details
Rivian CEO RJ Scaringe stands next to a R2 SUV at an unveiling event in Laguna Beach, California, U.S., March 7, 2024. Mike Blake | ReutersRivian Automotive's next new vehicle will be an all-electric midsize SUV called the R2 that's expected to start around $45,000...
United to pause pilot hiring, citing Boeing’s delivery delays
A United Airlines 737 Max 8Leslie Josephs | CNBCUnited Airlines will pause pilot hiring this spring because of aircraft deliveries from Boeing, the latest effect of the plane maker's problems with one of its biggest customers.New hire classes will be paused in May and...
United Airlines adds Morocco, Colombia, China flights
A United Airlines Boeing 787-8 Dreamliner aircraft is seen taking off from Amsterdam Schiphol Airport.Nicolas Economou | Nurphoto | Getty ImagesUnited Airlines is planning to launch flights to Marrakesh, Morocco, and Medellin, Colombia, and ramp up its service to...
Mattel Barbie strategy can revitalize American Girl, Fisher-Price, CEO says
Margot Robbie is Barbie in Warner Bros.' "Barbie."Warner Bros.If there's one thing Mattel CEO Ynon Kreiz wants shareholders to take away on Thursday, it's the power of Barbie.As the toymaker faces activist pressure from Barington Capital, particularly around its...
Robinhood partners with Klutch and Rich Paul, LeBron James’ agent
Rich Paul attends a basketball game between the National Basketball Association's Los Angeles Lakers and the Boston Celtics at Staples Center in Los Angeles on Feb. 23, 2020.Allen Berezovsky | Getty Images Entertainment | Getty ImagesRobinhood is partnering with...
NYCB lost 7% of deposits in past month, slashes dividend to 1 cent
The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024.Bing Guan | Bloomberg | Getty ImagesNew York Community Bank said Thursday it lost 7% of its deposits in the turbulent month before announcing a $1 billion-plus...
Cigna to cap employer insurance plan spending
Injection pens of Novo Nordisk's weight-loss drug Wegovy are shown in this photo illustration in Oslo, Norway, Nov. 21, 2023.Victoria Klesty | ReutersCigna on Thursday unveiled a new effort to expand insurance coverage for weight loss drugs by limiting how much health...
American Eagle (AEO) earnings Q4 2023
American Eagle on Thursday announced a new strategy to boost profitable growth over the next three years, as the retailer said it wrote off $94 million in impairment charges related to its internal logistics business Quiet Platform.The company also reported holiday...
Medicare should negotiate prices for 50 drugs each year
President Joe Biden speaks during an event at the National Institutes of Health in Bethesda, Maryland, Dec. 14, 2023.Chris Kleponis | Bloomberg | Getty ImagesPresident Joe Biden on Wednesday said the federal Medicare program should negotiate prices for at least 50...
Why private equity has been involved in every recent bank deal
Federal Reserve Chair Jerome Powell fist-bumps former Treasury Secretary Steven Mnuchin after a House Financial Services Committee hearing on "Oversight of the Treasury Department's and Federal Reserve's Pandemic Response" in the Rayburn House Office Building in...
Russian oligarch’s yacht costs U.S. taxpayers $900,000 a month
A mega-yacht seized by U.S. authorities from a Russian oligarch is costing the government nearly $1 million a month to maintain, according to new court filings.The U.S. Department of Justice is seeking permission to sell a 348-foot yacht called Amadea, which it seized...
Abercrombie & Fitch (ANF) earnings Q4 2023
An Abercrombie & Fitch store in New York, US, on Monday, Nov. 20, 2023. Abercrombie & Fitch Co. is scheduled to release earnings figures on November 21. Stephanie Keith | Bloomberg | Getty ImagesAbercrombie & Fitch said Wednesday that its holiday-quarter...
Foot Locker (FL) earnings Q4 2023
The Foot Locker logo is displayed in a store on May 19, 2023 in San Francisco, California. Justin Sullivan | Getty ImagesShares of Foot Locker fell in premarket trading Wednesday after the sneaker retailer reported a holiday-quarter loss and issued weak guidance for...
Nordstrom (JWN) earnings Q4 2023
Shoppers exit the Nordstrom at the Westfield Topanga mall in Los Angeles on Aug. 14, 2023.Christina House | Los Angeles Times | Getty ImagesNordstrom's holiday-quarter sales topped Wall Street's expectations on Tuesday, but the retailer gave a muted outlook for the...
CFPB rule caps credit card late fees at $8
Rohit Chopra, director of the CFPB, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress," in Dirksen Building on Thursday, November 30, 2023.Tom Williams |...
Delta is the latest airline to raise its checked bag fee
A Boeing 767 passenger aircraft of Delta airlines arrives from Dublin at JFK International Airport in New York as the Manhattan skyline looms in the background on February 7, 2024. Charly Triballeau | Afp | Getty ImagesDelta Airlines just became the latest airline to...
Dodge Charger EV, gas-powered muscle car revealed
2024 Dodge Charger Daytona Scat Pack EVDodgeDETROIT — Dodge won't abandon its traditional, gearhead, high-octane Charger and Challenger owners with its next-generation muscle car.The automaker on Tuesday revealed the new Dodge Charger as an all-electric vehicle as...
Target launches paid membership Target Circle 360
A customer shops for holiday gifts in a Target store on December 21, 2023 in Austin, Texas. Brandon Bell | Getty ImagesTarget on Tuesday said it will launch a paid membership program next month, riffing off the playbook of its rivals Amazon and Walmart.The...
Labor unions end proxy fight at Starbucks after bargaining progress
Steph Kronos, a pro-Union activist, tries to talk to Starbucks customers as she joins Starbucks workers, former employees, and supporters in holding signs in support of a strike, outside of a Starbucks store in Arlington, Virginia, on November 16, 2023.Saul Loeb | AFP...
Novo Nordisk Ozempic cuts risk of kidney disease progression
This picture taken on October 23, 2023, shows Ozempic medication boxes, an injectable antidiabetic drug, in a pharmacy in Riedisheim, eastern France. Sebastien Bozon | Afp | Getty ImagesNovo Nordisk's blockbuster drug Ozempic cut the risk of kidney disease progression...
Amer Sports (AS) earnings Q4 2023
Shares of Amer Sports, the maker of Wilson tennis rackets and Lousiville Slugger baseball bats, fell 6% in premarket trading Tuesday even after the company said its holiday-quarter losses narrowed, driven by strong sales in China.Here's how the newly public athletic...
Some NYCB deposits may be at risk after another Moody’s downgrade
A sign is pictured above a branch of New York Community Bank in Yonkers, New York, on Jan. 31, 2024.Mike Segar | ReutersRegional lender New York Community Bank may have to pay more to retain deposits after one of the company's key ratings was slashed for the second...
Target (TGT) earnings Q4 2023
The Target logo is seen on its store on 42nd Street in Times Square, New York City.Deb Cohn-Orbach | UCG | Universal Images Group | Getty ImagesTarget will report its holiday-quarter results and year-ahead outlook on Tuesday.Here's what Wall Street analysts surveyed...
Loyalty, premium will make up 80% of revenue
A Boeing 737 passenger aircraft of American Airlines arrives from Austin at JFK International Airport in New York as the Manhattan skyline looms in the background on February 7, 2024.Charly Triballeau | Afp | Getty ImagesAmerican Airlines said Monday that 80% of its...
Tour $24 million mansion in Delray Beach, Florida
The owners of this Florida mansion are asking for $24 million for their almost 11,500 square-foot residence inside one of the most expensive gated communities in Delray Beach, Florida.The price tag puts the home, known as Villa Ananda, at a price per square foot of...
Ford February sales jump 10.5%, led by gains in hybrids and EVs
A 2022 Ford Motor Co. Maverick compact pickup truck during the Washington Auto Show in Washington, D.C., on Friday, Jan. 21, 2022.Al Drago | Bloomberg | Getty ImagesDETROIT – Ford Motor's U.S. sales jumped 10.5% last month compared with February 2023, led by increases...
American Airlines orders hundreds of planes from Boeing, Airbus, Embraer
American Airlines flight 718, a Boeing 737 Max, takes of from Miami International Airport on its way to New York on December 29, 2020 in Miami, Florida.Joe Raedle | Getty ImagesAmerican Airlines said Monday that it is ordering 260 new narrow-body jets, including...
Lockheed Martin looks to acquire Terran Orbital for about $600 million
Terran Orbital's banner above the New York Stock Exchange on March 28, 2022.Terran OrbitalLockheed Martin submitted a bid to acquire spacecraft manufacturer Terran Orbital, the defense giant revealed in a securities filing on Friday.The nonbinding proposal would see...
JetBlue-Spirit Airlines merger called off
A JetBlue Airways plane sits on the tarmac at the Fort Lauderdale-Hollywood International Airport on January 31, 2024 in Fort Lauderdale, Florida.Joe Raedle | Getty ImagesJetBlue Airways and Spirit Airlines on Monday said they are ending their agreement to merge,...
Legion M taps fans, investors to make movies
William Shatner attends the William Shatner handprint ceremony hosted by Legion M during 2022 Comic-Con International: San Diego at Theatre Box on July 21, 2022 in San Diego, California.Emma Mcintyre | Getty ImagesWhen Paul Scanlan and Jeff Annison first dreamed up...
Part Two’ box office opening sparks interest in ‘Part Three’
Sandworms emerge on the desert planet Arrakis in Denis Villeneuve's "Dune: Part Two."Warner Bros. | Legendary EntertainmentAfter a two-month drought, "Dune: Part Two" has delivered a much-welcomed deluge of ticket sales to the domestic box office — and its success...
Viking Therapeutics emerges as competitor
Cr | Istock | Getty ImagesBiotech company Viking Therapeutics has emerged as a strong potential entrant — or takeover target — in the budding weight loss drug market. Viking is just one of several companies racing to join the growing space. Some analysts say the...
Upstart airlines Avelo, Breeze prepare for a profitable year
The inaugural flight of an Avelo Airlines Boeing 737-800 takes off from Hollywood Burbank Airport to Charles M. Schulz-Sonoma County Airport in Santa Rosa on April 28, 2021.Patrick T. Fallon | AFP | Getty ImagesIn the nearly four years since the Covid-19 pandemic...
NASA shuts down Maxar-led OSAM-1 satellite refueling project
A "grapple test" of the OSAM-1 spacecraft's robotic servicing arm.NASANASA is shutting down a $2 billion project to test satellite refueling in space, it announced Friday, after the agency's auditor criticized the program's lead contractor, Maxar, citing "poor...
Medicare drug price negotiations: Judge rejects AstraZeneca challenge
Activists protest the price of prescription drug costs in front of the U.S. Department of Health and Human Services (HHS) building on October 06, 2022 in Washington, DC.Anna Moneymaker | Getty ImagesA federal judge on Friday rejected AstraZeneca's legal challenge to...
Boeing in talks to buy back fuselage maker Spirit Aerosystems
Airplane fuselages bound for Boeing's 737 Max production facility sit in storage at their top supplier, Spirit AeroSystems Holdings Inc, in Wichita, Kansas, U.S. December 17, 2019. Nick Oxford | ReutersBoeing is in talks to buy back Spirit Aerosystems, which makes...
CVS, Walgreens to start selling abortion pill mifepristone this month
A container holding boxes of mifepristone, the first medication in a medical abortion, are prepared for patients at Alamo Women's Clinic in Carbondale, Illinois, on April 20, 2023.Evelyn Hockstein | ReutersCVS and Walgreens will start selling the abortion pill...
Wall Street worries about NYCB’s loan losses and deposit levels
A sign is pictured above a branch of the New York Community Bank in Yonkers, New York, U.S., January 31, 2024.Mike Segar | ReutersRegional lender New York Community Bank finds itself in an apparently worsening predicament just as the anniversary of last year's banking...
Yum China CEO says consumers are growing more ‘rational’
A KFC restaurant in Wuhan, China.Source: Yum ChinaWhile economists and investors fret over China's low consumer confidence and sluggish growth, Yum China CEO Joey Wat says the Chinese consumer is growing more rational — and has been for years. Weighed down by...
Medicaid challenges leave many Black Americans uninsured
Recent changes to Medicaid programs, aimed at closing a health coverage gap in the U.S., have left behind some Americans — particularly people of color.Among the non-elderly population in the U.S. — those under age 65 — insured rates rose during the Covid pandemic,...
Major League Pickleball and PPA Tour complete merger
Lacy Schneemann of the Florida Smash returns a shot during a group play Major League Pickleball match against BLQK at Pickle & Chill in Columbus, Ohio, on Oct. 15, 2022.Emilee Chinn | Getty ImagesMajor League Pickleball and the Professional Pickleball Association...
Christie’s sells Rothko painting for $100 million in a secret sale
Christie's auction house in New York.CNBCA version of this first article appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Auction house...
What drivers need to know
An all-electric Ford Mustang Mach-E at a Tesla Supercharger station charging.FordDETROIT – Ford Motor is rolling out Tesla Supercharging capabilities to owners of its electric vehicles in the U.S. and Canada. The launch begins Thursday, but is expected to be supply...
Part Two’ hits theaters Friday amid box office drought
Timothee Chalamet stars as Paul Atreides in Denis Villeneuve's "Dune: Part Two."Warner Bros. | Legendary EntertainmentLOS ANGELES — Movie theater operators are hoping that Warner Bros. and Legendary Entertainment's "Dune: Part Two," due out in theaters Friday, will be...
Pfizer RSV vaccine protects older adults over two seasons
Respiratory syncytial virus vial.Manjurul | Istock | Getty ImagesPfizer's vaccine against respiratory syncytial virus maintained protection for older adults across two full seasons of the disease in an ongoing late-stage clinical trial, the company announced...
Best Buy (BBY) earnings Q4 2024
People walk past a Best Buy store in Manhattan, New York City, November 22, 2021.Andrew Kelly | ReutersBest Buy surpassed Wall Street's revenue and earnings expectations for the holiday quarter on Thursday, even as the retailer navigated through a period of tepid...
Birkenstock (BIRK) earnings Q1 2024
Employee Mo Soto arranges a shelf at a Birkenstock store on October 10, 2023 in Venice, California. Ethan Swope | Getty ImagesBirkenstock on Thursday beat holiday quarter revenue expectations, reporting a 26% year-on-year jump, as the German sandal company benefited...
Maserati reveals first GranCabrio convertible sports car since 2019
At launch, the Maserati GranCabrio is available in the Trofeo trim level. It includes a 3.0 liter twin-turbo V6 engine.MaseratiMaserati's first GranCabrio convertible since 2019 is expected to go on sale this summer in the U.S. with a top speed of nearly 200 miles per...
Paramount Global (PARA) earnings Q4 2023
Paramount Global missed revenue expectations for the fourth quarter on Wednesday but posted a surprise quarterly profit and posted strong results from its streaming platform Paramount+.Here's how Paramount performed in the fourth quarter compared to Wall Street...
Saudi sovereign wealth fund to partner with men’s tennis tour
Hamad Medjedovic of Serbia plays a backhand to Arthur Fils of France in the final during day five of the Next Gen ATP Finals at King Abdullah Sports City on December 02, 2023 in Jeddah, Saudi Arabia. Adam Pretty | Getty ImagesSaudi Arabia's Public Investment Fund will...
FAA gives Boeing 90 days to establish quality control plan
An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019.Lindsey Wasson | ReutersThe Federal Aviation Administration is giving Boeing 90 days to come up with a plan to improve quality control,...
TJX Companies (TJX) earnings Q4 2024
A HomeGoods shopping cart area in front of a T.J. Maxx store in Pinole, California, US, on Wednesday, May 3, 2023.David Paul Morris | Bloomberg | Getty ImagesTJX Cos. on Wednesday said holiday sales jumped 13% as shoppers hunting for deals flocked to the off-price...
Novavax (NVAX) earnings report Q4 2023
Budrul Chukrut | Lightrocket | Getty ImagesVaccine maker Novavax on Wednesday reported fourth-quarter revenue and earnings that missed Wall Street's estimates and reiterated plans to cut costs as it fights to stay afloat. Still, Novavax narrowed its losses in the...
Rocket Lab (RKLB) Q4 2023 results: Contract backlog grows
An Electron rocket launches the Baby Come Back mission from New Zealand on July 17, 2023.Rocket LabRocket Lab is making steady progress on the development of its Neutron vehicle, as the company reported fourth-quarter results that saw its contract backlog soar above...
The hottest housing markets for the super rich in 2024
The Port of Fontvieille Harbor in the Principality of Monaco.Education Images | Universal Images Group | Getty ImagesThe ultrawealthy are looking for a better lifestyle and strong investment when it comes to buying their next home, according to a new study.One-quarter...
Starbucks and Workers United union agree to framework for talks
A Starbucks logo is seen as members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle, Washington, D.C., on Nov. 16, 2023.Kevin Dietsch | Getty ImagesStarbucks workers at unionized cafes will receive the pay hikes that...
FAA closes Starship investigation, SpaceX seeks next launch license
SpaceX's next-generation Starship spacecraft atop its powerful Super Heavy rocket is launched from the company's Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, on Nov. 18, 2023.Joe Skipper | ReutersThe Federal Aviation Administration on...
Most competitive rental markets for 2024
Apartments are seen undergoing construction on February 28, 2023 in Austin, Texas. Brandon Bell | Getty ImagesThe apartment market is finally loosening up. At the same time, competition is heating up in some key markets.There is an enormous supply of new apartments...
Warner Bros. Discovery halts Paramount Global merger talks
President and C.E.O. of Warner Bros. Discovery David Zaslav speaks during the New York Times annual DealBook summit on November 29, 2023 in New York City.Michael M. Santiago | Getty ImagesWarner Bros. Discovery has gone "pencils down" on a potential acquisition of...
Consumer Reports’ top 10 new vehicle picks: Hybrids lead
Toyota hybrid vehicles for sale at a dealership in Chicago, Feb. 6, 2024.Scott Olson | Getty ImagesHybrid vehicles led the 2024 top vehicle rankings released Tuesday by influential product testing organization Consumer Reports.Such "electrified" vehicles, including...
Cava stock pops after blunder leads to early earnings release
A banner for the Mediterranean restaurant chain Cava is displayed outside of the New York Stock Exchange (NYSE) as the company goes public on June 15, 2023 in New York City.Spencer Platt | Getty ImagesCava's stock rose 7% Tuesday morning after the Mediterranean...
Norwegian Cruise Line (NCLH) earnings Q4 2023
The Norwegian Viva is docked at PortMiami's Terminal B ahead of its christening ceremony on Nov. 29, 2023, in Miami.Richard Tribou | Tribune News Service | Getty ImagesNorwegian Cruise Line Holdings on Tuesday reported its first profitable year since 2019 as...
Macy’s will close 150 stores, open new Bloomingdale’s, Bluemercury
People shop at the Macy's store on Herald Square on January 19, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty ImagesAs Macy's chases sales growth, the department store operator said Tuesday that it will close about 150 of its namesake stores...
Four reasons Walmart wants to buy smart TV maker Vizio
A worker walks past televisions, including the Vizio brand, on display in a Walmart Supercenter on February 20, 2024, in Hallandale Beach, Florida. Joe Raedle | Getty ImagesWalmart is doing some shopping of its own.The retail giant announced last week that it plans...
Viking Therapeutics weight loss drug shows promising trial results
Cr | Istock | Getty ImagesShares of Viking Therapeutics soared more than 80% in premarket trading Tuesday after the company's experimental weight loss drug showed promising initial results in a mid-stage trial. Viking Therapeutics is one of several small obesity...
Macy’s (M) Q4 2023 earnings
The Macy's logo is seen at its store in Herald Square in New York City on Jan. 19, 2024.Michael M. Santiago | Getty ImagesMacy's on Tuesday said sales fell nearly 2% in the holiday quarter, as the 166-year-old department store operator unveiled its strategy to get...
Lowe’s (LOW) Q4 2023 earnings
The Lowe's logo is displayed on the front of the store near Bloomsburg.Paul Weaver | Lightrocket | Getty ImagesLowe's on Tuesday beat Wall Street's quarterly earnings and revenue estimates, even as the company continued to see customers tackle fewer home projects.The...
Altice USA shares rise on Charter acquisition report
Igor Golovniov | Lightrocket | Getty ImagesAltice USA shares spiked as much as about 50% on Monday following a report that Charter Communications is considering buying the broadband company. Charter is working with financial advisors as it considers whether it would...
Jamie Dimon on Capital One Discover deal: ‘Let them competeâ
Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.Adam Galici | CNBCJPMorgan Chase CEO Jamie Dimon isn't worried about the added...
FTC sues to block Kroger Albertsons grocery store merger
Albertsons and Kroger supermarketsBridget Bennett | Bloomberg | Getty Images; Brandon Bell | Getty ImagesThe U.S. Federal Trade Commission said Monday that it is suing to block the merger of Kroger and Albertsons, saying the combination of the two major grocers would...
First images from Intuitive Machines’ Odysseus
Intuitive Machines CEO Steve Altemus explains how the company's IM-1 lander tipped over on the moon's surfacing during a NASA press conference on Feb. 22, 2023.NASA TVIntuitive Machines' cargo lander, Odysseus, returned its first images from the moon's surface over...
Inflation vs. deflation: Retailers fear falling prices
A man with a paper bag of groceries looks surprised and upset at a receipt from a supermarket with high prices against the background of an escalator with customers in the shopping center. Elena Perova | Istock | Getty ImagesJust ahead of the holiday season, Walmart...
Why airlines are raising baggage fees and charging more at the airport
Travelers arrive for flights at O'Hare International Airport in Chicago on March 16, 2021.Scott Olson | Getty Images News | Getty ImagesAirlines are raising their prices to check a bag â again. Just how much you it will cost you, however, depends on when you pay for...
United Airlines raises checked bag fee $5, following American
United Airlines planes at Denver International Airport.Leslie Josephs | CNBCUnited Airlines is raising the price to check bags, becoming the latest carrier this year to hike a fee that generated more than $5 billion for airlines in the first nine months of 2023...
Warner Bros. Discovery hypes free cash flow. Investors don’t buy it
The "Bobs" from the film Office SpaceSource: 20th Century Fox | YouTubeListening to Warner Bros. Discovery Chief Executive Officer David Zaslav speak on Friday's fourth-quarter earnings calls, I couldn't help but think of a scene in the movie "Office Space."An...
Carvana (CVNA) stock surges on 2023 profit, analyst upgrades
Vehicles are seen on a display at a Carvana dealership on February 20, 2023 in Austin, Texas.Brandon Bell | Getty ImagesCarvana shares surged 30% Friday morning after posting its first-ever annual profit and receiving a pair of upgrades by Wall Street analysts.The...
Sickle cell disease gene therapies Casgevy Lyfgenia insurance cost issues
Blood sample of patient positive tested for sickle cell.Kitsawet Saethao | Istock | Getty ImagesThe approval of two gene therapies to treat sickle cell disease has given hope to patients who suffer from the debilitating disease, which overwhelmingly affects Black...
Intuitive Machines stock (LUNR) jumps after Odysseus moon landing
Intuitive Machines' Nova-C lunar lander on display at NASA's Marshall Space Flight Center.NASAShares of Intuitive Machines surged in premarket trading on Friday after the company's successful first moon landing.Intuitive Machines' cargo moon lander, "Odysseus," became...
Warner Bros. Discovery (WBD) earnings Q4 2023
The exterior of the Warner Bros. Discovery Atlanta campus is pictured after the Writers Guild of America began their strike against the Alliance of Motion Pictures and Television Producers, in Atlanta, Georgia, U.S. May 2, 2023.Alyssa Pointer | ReutersWarner Bros....
Rivian and Lucid shares plunge after weak EV earnings reports
A Rivian electric truck sits parked in front of a Rivian service center on August 08, 2023 in South San Francisco, California.Justin Sullivan | Getty ImagesShares of electric vehicle makers Rivian and Lucid plummeted Thursday after the companies reported disappointing...
Capital One Discover acquisition has $1.4 billion breakup fee for another buyer
Capital One headquarters in McLean, Virginia on February 20, 2024. Brendan Smialowski | AFP | Getty ImagesCapital One's blockbuster takeover proposal for Discover Financial includes a $1.38 billion breakup fee if Discover decides to go with another buyer, but no such...
Intuitive Machines Odysseus lands on moon in historic NASA mission
The IM-1 lander "Odysseus" in lunar orbit on Feb. 21, 2024.Intuitive MachinesA U.S. company has gone to the moon â and into the history books.Intuitive Machines IM-1 mission reached the moon's surface on Thursday evening, in the first American lunar landing since...
How Wall Street reads IM-1 moon-fueled rally
Intuitive Machines' Nova-C lander "Odysseus" deploys from the upper stage of SpaceX's Falcon 9 rocket to begin the IM-1 mission.NASA TVMuch like Intuitive Machines' spacecraft, its stock has been flying to the moon the past week.In a little over a month since hitting...
Existing home sales rose 3% in January 2024
A real estate agent walks into a home for sale in Lancaster, Ohio.Ty Wright | Bloomberg | Getty ImagesSales of previously owned homes rose 3.1% in January to 4 million units on a seasonally adjusted annualized basis, according to the National Association of Realtors....
Tax evasion by wealthiest Americans tops $150 billion a year: IRS
The nation's millionaires and billionaires are evading more than $150 billion a year in taxes, adding to growing government deficits and creating a "lack of fairness" in the tax system, according to the head of the Internal Revenue Service.The IRS, with billion of...
Novavax to settle Gavi arbitration over canceled Covid shot purchase
A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands.Patrick Van Katwijk | Getty ImagesNovavax on Thursday said it will settle a bitter...
Moderna (MRNA) earnings Q4 2023
Nikos Pekiaridis | Nurphoto | Getty ImagesModerna on Thursday posted a surprise quarterly profit, in part boosted by deferred revenue, even as the company saw slumping sales from its Covid vaccine, its only marketable product. The results cap a rocky year for the...
Boeing replaces head of troubled 737 Max program
A person walks past an unpainted Boeing 737-8 MAX parked at Renton Municipal Airport adjacent to Boeing's factory in Renton, Washington on January 25, 2024. Jason Redmond | AFP | Getty ImagesBoeing is replacing the head of its 737 Max program less than two months...
Why Capital One is buying Discover in the biggest merger yet of 2024
Capital One CEO and Chairman, Richard Fairbank.Marvin Joseph| The Washington Post | Getty ImagesCapital One's recently announced $35.3 billion acquisition of Discover Financial isn't just about getting bigger â gaining "scale" in Wall Street-speak â it's a bid to...
Ford, UAW reach local labor deal to avert strike at Kentucky plant
Ford Super Duty trucks are seen at the Kentucky Truck assembly plant in Louisville, Kentucky, U.S., April 27, 2023.Joe White | ReutersFord and a United Auto Workers local union reached a tentative deal on Wednesday to avert a strike at the automaker's most profitable...
Beyond Meat launches new, healthier version of burger
The latest iteration of the Beyond Burger, made with avocado oil and 20% less sodiumSource: Beyond MeatBeyond Meat is launching a new version of its plant-based burger in grocery stores this spring, betting that an even healthier version of its burgers will lure back...
FuboTV sues Disney, Fox, Warner Bros. over sports joint venture
Sports streaming platform FuboTV is suing Disney, Fox and Warner Bros. Discovery over their recently announced joint venture, citing what the company calls "extreme suppression of competition in the U.S. sports-focused streaming market," according to a copy of the...
Intuitive Machines (LUNR) stock surges as lander approaches the moon
The company's IM-1 mission lander shortly after launching on Feb. 15, 2024.Intuitive MachinesShares of Intuitive Machines jumped for a third consecutive trading session, surpassing their post-SPAC debut price, as the company's first mission completed further...
AbbVie taps Robert Michael as CEO, succeeding Richard Gonzalez
Test tubes are seen in front of a displayed AbbVie logo in this illustration taken on May 21, 2021.Dado Ruvic | ReutersAbbVie on Tuesday said longtime executive Robert Michael will become the company's new CEO, replacing Richard Gonzalez. Michael, who is AbbVie's...
American Airlines raises bag fees, limits miles for travel agency bookings
An American Airlines plane sits at the gate at Cancun International Airport on May 26, 2023.Daniel Slim | AFP | Getty ImagesAmerican Airlines has raised the price to check a bag for the first time in more than five years and said it would limit which travel agency...
Macy’s activist Arkhouse launches proxy fight with nine directors
Customers visit the Macy's Herald Square store in New York City on Dec. 17, 2023.Kena Betancur | Corbis News | Getty ImagesInvestment firm Arkhouse Management has launched a proxy fight at Macy's, nominating a slate of nine directors for election to the department...
SOC labor coalition accuses Starbucks of ‘flawed’ union strategy
A coalition of unions is laying out its case against Starbucks ahead of a proxy fight at its annual meeting in March, arguing the coffee giant has implemented a "flawed human capital management strategy" in response to a yearslong union movement.The Strategic...
Home Depot (HD) Q4 2023 earnings
The logo of Home Depot is seen on a signboard near its store in Seattle. Home Depot is expected to report its quarterly earnings this week. Toby Scott | Lightrocket | Getty ImagesHome Depot will report its fiscal fourth-quarter earnings on Tuesday, as investors look...
Walmart (WMT) Q4 2024 earnings
A Walmart in Atlanta, Georgia, on Sunday, Feb. 19, 2023.Dustin Chambers | Bloomberg | Getty ImagesWalmart will report its holiday quarter results on Tuesday morning, as investors try to get a clearer picture of what the year ahead holds for retailers and the U.S....
Disney star Bridgit Mendler launches satellite startup Northwood Space
Actress and singer Bridgit Mendler attends NBCUniversal's after party for the 72nd annual Golden Globes Awards at The Beverly Hilton hotel in Beverly Hills, California, on Jan. 11, 2015.Paul Archuleta | Filmmagic | Getty ImagesBridgit Mendler is no stranger to...
Companies make 2024 the year of cost cuts
Mathisworks | Digitalvision Vectors | Getty ImagesCorporate America has a message for Wall Street: It's serious about cutting costs this year.From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to...
Carl Icahn wins seats on JetBlue board after taking stake in airline
A JetBlue Airways plane prepares to take off from the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on Jan. 31, 2024.Joe Raedle | Getty ImagesCarl Icahn won his push for seats on JetBlue Airways' board of directors, according to a...
Affirm buy now pay later vendor discusses loans, delinquencies
A young man holds a credit card and uses a laptop for online shopping.Diy13 | Istock | Getty ImagesAmericans shopping online after midnight often make riskier transactions and are more likely to default on their loans, according to Affirm Chief Financial Officer...
Mortgage rates shoot to 2-month high after hot inflation report
A "For Sale" sign outside a house in Albany, California, on May 31, 2022.David Paul Morris | Bloomberg | Getty ImagesMortgage rates shot higher Friday after a monthly government report on wholesale prices showed inflation is still persistent and hotter than most...
UAW threatens to strike Ford Kentucky Truck Plant over local demands
United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023.ScreenshotDETROIT â The United Auto Workers is threatening a labor strike at Ford Motor's largest U.S. plant if...
Intuitive Machines (LUNR) stock jumps after moon mission update
Intuitive Machines' Nova-C lander "Odysseus" deploys from the upper stage of SpaceX's Falcon 9 rocket to begin the IM-1 mission.NASA TVShares of Intuitive Machines jumped for a second consecutive day after the company issued an update that said its moon lander mission...
Family offices shift out of cash and into alternatives
Strauss/curtis | The Image Bank | Getty ImagesA version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. While...
Nike to lay off 2% of employees, cutting more than 1,500 jobs
A man wearing a protective face mask walks past a Nike brand store in Kyiv, Ukraine, on Dec. 10, 2020.Valentyn Ogirenko | ReutersNike is cutting 2% of its current workforce, or more than 1,500 jobs, as part of a broader restructuring, the company said late...
Future of retail predictions
Illustration by Christina LocopoRetail has seen unprecedented upheaval over the last several years.Some of the industry's key decision-makers expect even more evolution ahead.Covid-related shocks have upended retail, after clogged ports and merchandise shortages gave...
DraftKings posts 44% revenue growth, but falls short of estimates
In this photo illustration the DraftKings logo seen displayed on a smartphone.Rafael Henrique | Sopa Images | Lightrocket | Getty ImagesDraftKings on Thursday posted quarterly results that missed Wall Street estimates on the top and bottom line, but it increased its...
Starbucks has a new accessible store design. Take a look inside
The exterior of Starbucks' new Union Market locationSource: StarbucksStarbucks has unveiled a new store design focused on accessibility and inclusion, with fresh light fixtures and open floor plans.The coffee giant opened the first location with the new design on...
Younger generations gained more wealth than others since 2019, study says
Younger generations grew their wealth much faster than older Americans after the pandemic began, thanks largely to stocks, according to a new study.The total wealth of Americans under 40 surged by 80%, to $9.5 trillion, between the first quarter of 2019 and the third...
Wells Fargo says consent order tied to 2016 scandal lifted
NEW YORK, NEW YORK - MAY 17: President and CEO of Wells Fargo Charlie Scharf attends The Future of Everything presented by the Wall Street Journal at Spring Studios on May 17, 2022 in New York City. (Photo by Steven Ferdman/Getty Images)Steven Ferdman | Getty Images...
Forget Tesla, ‘Pro’ unit is auto industry’s future
Ford Motor Co., CEO Jim Farley gives the thumbs up sign before announcing Ford Motor will partner with Chinese-based, Amperex Technology, to build an all-electric vehicle battery plant in Marshall, Michigan, during a press conference in Romulus, Michigan February 13,...
Shake Shack (SHAK) earnings Q4 2023
The Chicken Shack sandwich from Shake Shack.Shake ShackShares of Shake Shack surged 20% Thursday morning after the burger chain delivered strong fourth-quarter earnings results.With Thursday morning's gains, the stock reached a new 52-week high of $95.80 and is up...
Intuitive Machines (LUNR) stock pops as first moon mission begins
A SpaceX Falcon 9 rocket carrying the Nova-C lander for the IM-1 mission launches from pad 39A at the Kennedy Space Center at 1:05 a.m. EDT on February 15, 2024 in Cape Canaveral, Florida.Paul Hennessy | Anadolu | Getty ImagesShares of Intuitive Machines spiked in...
Jeans brand True Religion exploring sale
The hedge fund that owns True Religion is exploring a sale of the Y2K-era jeans brand as it returns to growth and profitability after emerging from its second bankruptcy, CNBC has learned. True Religion sales jumped about 20% to around $280 million last year, and it...
Intuitive Machines first moon mission begins after SpaceX launch
A SpaceX Falcon 9 rocket carrying the Nova-C lander for the IM-1 mission launches from pad 39A at the Kennedy Space Center at 1:05 a.m. EDT on February 15, 2024 in Cape Canaveral, Florida.Paul Hennessy | Anadolu | Getty ImagesTexas-based Intuitive Machines' inaugural...
Pay TV distributors are confused, concerned about sports joint venture
A Major League Baseball logo at Angel Stadium in Anaheim, California, May 22, 2022.Ronald Martinez | Getty ImagesIt's been about a week since Disney, Warner Bros. Discovery and Fox announced a new joint venture to offer live sports outside the traditional cable...
Varda drug spacecraft gets FAA approval to return
Varda's first manufacturing satellite and reentry vehicle attached to a Rocket Lab Photon bus.Rocket LabSpace startup Varda received long-awaited approval from the Federal Aviation Administration to bring its first spacecraft back to earth after a stint manufacturing...
FTC, HHS examining cause of generic drug shortages
A variety of generic pills and capsules. Nenov | Moment | Getty ImagesThe Federal Trade Commission on Wednesday said it is examining the role that drug wholesalers and companies that purchase medicines for U.S. health-care providers play in shortages of generic...
Phoenix Suns owner Mat Ishbia forms Player 15 investment group
Mat Ishbia, majority owner of the NBA's Phoenix Suns, talks to the media during his introductory press conference at the Footprint Center in Phoenix, Arizona, on Feb. 8, 2023.Barry Gossage | Getty ImagesPhoenix Suns owner Mat Ishbia is forming a new sports,...
Gemstone engagement rings capture hearts and market share
Luxury precious rings in a row on display in a jewelry store at a high-end shopping mall.Craig Hastings | Moment | Getty ImagesRoses are red, violets are blue, gemstones are hot and prices are too.Valentine's Day has long been one of the most popular days of the year...
‘Anyone But You’ could spark a rom-com renaissance in Hollywood
Glen Powell and Sydney Sweeney star in Sony's "Anyone But You."SonyReleased just before the crowded Christmas movie season, Sony's "Anyone But You" seemed destined to be anything but a box-office hit â especially after it tallied just $6 million in ticket sales...
Higher medical costs are pinching CVS, UnitedHealth
A UnitedHealth Group health insurance card is seen in a wallet, Oct.14, 2019.Lucy Nicholson | ReutersGood afternoon! Health insurers are feeling the squeeze as older patients head to the doctor more than expected.CVS, which owns health insurer Aetna, on...
Airfare is down, but here’s why that may not last for long
Travelers at LaGuardia Airport in New York on June 30, 2022.Leslie Josephs | CNBCAirfare fell 6.4% in January from a year earlier, the Labor Department said in its monthly consumer price index report on Tuesday. It might not last too long.January is typically a slower...
Flights attendants push airlines for higher wages
CHICAGO, ILLINOIS - JANUARY 24: American Airlines workers picket at O'Hare International Airport on January 24, 2023 in Chicago, Illinois. The workers, mostly flight attendants with the Association of Professional Flight Attendants (APFA), were picketing to demand...
Molson Coors gains market share as consumers shift away from Bud Light
Miller, and Coors a products are displayed October 9, 2007 in Chicago, Illinois.Scott Olson | Getty ImagesBrewer Molson Coors said on Tuesday that it expects to maintain its market share gains in the year ahead.The company, which makes Coors Light and Miller Lite,...
ESPN Bet plans launch in New York, the largest U.S. betting market
ESPN Bet is coming to the Big Apple.Penn Entertainment, which operates the sports betting platform, will pay Wynn Resorts $25 million for market access, it said Tuesday. It's the same amount Wynn paid New York state to operate there.Wynn Interactive, a subsidiary of...
Banks ask for help protecting customers from online romance scams
The banking industry is seeking help from the federal government and the social media industry to stop an escalating crisis that's costing Americans billions of dollars every year: online romance scams.These digital crimes have proliferated since the pandemic, as...
Medicare drug price negotiations: Judge tosses PhRMA lawsuit
Activists protest the price of prescription drug costs in front of the U.S. Department of Health and Human Services (HHS) building on October 06, 2022 in Washington, DC.Anna Moneymaker | Getty ImagesA federal judge on Monday dismissed a lawsuit brought by a major...
CEO says inflation is moderating in most markets
James Quincey, CEO of Coca-Cola Co., speaking on "Squawk Box" at the WEF in Davos, Switzerland, on Jan. 18, 2023.Adam Galica | CNBCInflation is moderating in most markets, after a stretch in which the beverage maker relied on price hikes to drive higher revenue,...
Boeing aircraft orders, deliveries dry up in January
An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, U.S. March 21, 2019.Lindsey Wasson | ReutersBoeing's aircraft orders and deliveries fell in January as the company grappled with the fallout from a...
More than 123 million viewers tuned in
Kansas City Chiefs' Patrick Mahomes celebrates with the Vince Lombardi Trophy after winning Super Bowl LVIII.Brian Snyder | ReutersSuper Bowl 58 was the most-watched television show in history, as an estimated 123.4 million people watched the Kansas City Chiefs rally...
Startup Skylo raises $37 million from Intel, BMW, Samsung
A Skylo base station in assembly.Skylo TechnologiesSilicon Valley space startup Skylo Technologies landed funding from the corporate venture arms of Intel, BMW and Samsung, as the company aims to bridge the gap between satellite and terrestrial communications.Skylo...
Hasbro (HAS) earnings Q4 2023
A monopoly game sits under the Hasbro logo during Brand Licensing Europe at ExCel on November 18, 2021 in London, England.John Keeble | Getty ImagesToy company Hasbro reported a more than 20% hit to its fourth-quarter revenue and issued a downbeat 2024 forecast...
Paramount Global lays off about 800 employees after Super Bowl
Paramount executive Bob Bakish attends the 2022 MTV Europe Music Awards (EMAs) at the PSD Bank Dome in Duesseldorf, Germany, November 13, 2022. Thilo Schmuelgen | ReutersParamount Global is laying off hundreds of employees, just one day after the company announced CBS...
Startup K2 Space raises $50 million to build monster satellites
K2 Space co-founders Karan Kunjur and Neel Kunjur at the company's facility in Torrance, California.Credit: K2 SpaceLos Angeles-based startup K2 Space raised $50 million in new funding as the company works to build monster satellites to match the massive rockets that...
Biogen (BIIB) earnings Q4 2023
Biogen on Tuesday reported fourth-quarter revenue and profit that shrank from a year ago, as it recorded charges related to dropping its controversial Alzheimer's drug Aduhelm and as sales slumped in its multiple sclerosis therapies, the company's biggest drug...
Restaurant Brands International (QSR) Q4 2023 earnings
A general view of a Tim Hortons Drive-Thru coffeehouse and restaurant at Lakeside Retail Park on February 5, 2024 in Grays, United Kingdom.John Keeble | Getty ImagesRestaurant Brands International reported quarterly earnings and revenue that beat analysts'...
Coca-Cola (KO) Q4 2023 earnings
Bottles of Coca-Cola are displayed in San Anselmo, California, on April 24, 2023.Justin Sullivan | Getty ImagesCoca-Cola is expected to report its fourth-quarter earnings before the bell Tuesday.Here's what Wall Street analysts surveyed by LSEG, formerly known as...
Chrysler unveils Halcyon EV concept car
The Chrysler Halcyon concept car.StellantisDETROIT — Chrysler revealed the direction of its future products on Tuesday with a new concept car called "Halcyon," as the once prominent auto company attempts to drum up attention amid a dearth of new products.The concept...
Carl Icahn reports JetBlue stake, calls shares undervalued
Carl Icahn at the 6th annual CNBC Institutional Investor Delivering Alpha Conference on Sept. 13, 2016.Heidi Gutman | CNBCActivist investor Carl Icahn on Monday reported a nearly 10% stake in JetBlue Airways, saying the airline stock is undervalued. Shares of JetBlue...
Tiger Woods, TaylorMade sign apparel deal following his Nike split
Tiger Woods at the practice range on April 5, 2022, before the start of the 2022 Masters at Augusta National Golf Club in Augusta, Georgia.Brian Spurlock | Icon Sportswire | Getty ImagesTiger Woods and TaylorMade have made it official. The golf great has agreed to...
Jeff Bezos’ move to Miami will save him over $600 million in taxes
Jeff Bezos and Lauren Sanchez walk in the Paddock prior to final practice ahead of the F1 Grand Prix of Miami at Miami International Autodrome on May 06, 2023 in Miami, Florida. Clive Mason | Formula 1 | Getty ImagesJeff Bezos' $2 billion stock sale last week came...
JetBlue resets with new CEO Joanna Geraghty, airline veterans
A JetBlue Airways plane prepares to depart New York's LaGuardia Airport.Leslie Josephs/CNBCIn the 24 years since JetBlue Airways' first flight, the New York-based airline has pushed the envelope for a carrier of its size. Now, with some veteran executive hires and...
DoorDash, DunKings, Beyoncé and more
Super Bowl ads: Celebrities, snacks and 'Flashdance'That wraps up the Super Bowl 58 ad slate. The biggest snack brands from Oreos, Pringles and Mountain Dew to Doritos, M&Ms and Starry dominated the line up.There were some head-scratchers, like Martin Scorsese's...
Travelers increasingly turn to taking Amtrak trains over flights
Amtrak trains travel through Washington, DC, on September 15, 2022.Stefani Reynolds | AFP | Getty ImagesAs domestic travel rebounds from pandemic lows and prices soar, some travelers opting for trains over planes.For many, the tradeoffs are simple: Trains are often...
Florida mansion is most expensive U.S. home for sale at $295 million
The main house at Gordon Pointe spans 11,500 sq ft.The most expensive home for sale in the U.S. hit the market this week for $295 million.Gordon Pointe, as it's called, is a roughly 9-acre compound in Naples, Florida, on the Gulf Coast, in an affluent enclave called...
Novo Nordisk, Eli Lilly are tackling supply issues
Injection pens of Novo Nordisk's weight-loss drug Wegovy are shown in this photo illustration in Oslo, Norway, Nov. 21, 2023.Victoria Klesty | ReutersThe insatiable demand for weight loss drugs is trouncing supply, leaving many patients struggling to find the...
Temu returns to Super Bowl 58 with new commercial
Jakub Porzycki | Nurphoto | Getty ImagesTemu, the controversial Chinese e-commerce giant looking to take on Amazon, is returning to the big game on Sunday with a Super Bowl ad that lawmakers are calling on Paramount Global and CBS not to run.The company, owned by PDD...
JPMorgan Chase, Wells Fargo cut overdraft revenue to $2 billion in 2023
Pedestrians pass a JPMorgan Chase bank branch in New York.Michael Nagle | Bloomberg | Getty ImagesThe three biggest American retail banks collected 25% less overdraft revenue last year as the companies, under pressure from regulators to cap the fees, created new ways...
YouTube stars help NFL bring in more viewers, league says
YouTuber Deestroying and NFL Commissioner Roger Goodell presenting at YouTube's Brandcast in May 2023.Credit: YouTubeYouTube bet big on the NFL to boost its subscriber base, and content creators have been key to that push.After YouTube committed $2 billion per year to...
PepsiCo (PEP) Q4 2023 earnings
Pepsi bottles are seen at the grocery store in Las Vegas, United States on November 17, 2023.Jakub Porzycki | Nurphoto | Getty ImagesPepsiCo on Friday reported mixed quarterly results as North American demand for its food and drinks weakened.Shares of the company fell...
Hawaiian Airlines debuts SpaceX Starlink free inflight Wi-Fi
A Hawaiian Airlines A321 aircraft with Starlink WiFi installed.Hawaiian AirlinesHawaiian Airlines is rolling out complimentary Wi-Fi via SpaceX's Starlink on board commercial flights this week, the companies told CNBC, the first major U.S. airline to offer the...
Wall Street misunderstands new sports joint venture
EW Scripps CEO Adam SymsonSource: EW ScrippsLocal TV station owners including Sinclair, TEGNA and EW Scripps all saw their valuations plummet this week after Disney, Warner Bros. Discovery and Fox announced a new sports joint venture set to launch this fall.Sinclair...
Delta to open new tier of premium airport lounges this year
Delta's new Sky Club airport lounge at New York's John F. Kennedy International Airport.Leslie Josephs/CNBCDelta Air Lines' popular airport lounges are getting a more exclusive tier, in the airline's latest push to cater to high-spending travelers.The first "premium"...
Kia Carnival hybrid minivan coming this summer
CHICAGO – Kia Motors is adding a hybrid model to its Carnival minivan to meet increasing consumer demand for the technology and assist in meeting tightening federal fuel economy standards.Hybrids are a growing option for automakers as they strive to make vehicles more...
Merck, J&J, Bristol Myers Squibb CEOs face Senate drug price hearing
Sen. Bernie Sanders, left, appears at a news conference with Sen. Ed Markey on issuing subpoenas for pharmaceutical company CEOs to testify regarding drug prices, in the Capitol, Jan. 25, 2024.Bill Clark | Cq-roll Call, Inc. | Getty ImagesSenators will question the...
Under Armour (UAA) earnings Q3 2024
The interior of an Under Armour store is seen on November 03, 2021 in Houston, Texas.Brandon Bell | Getty ImagesUnder Armour said Thursday that its holiday-quarter sales slowed, but its earnings beat estimates as the athletic apparel retailer worked to rein in...
New sports streaming platform: What to know
Los Angeles Lakers forward LeBron James, #23, during the NBA game between the Los Angeles Clippers and the Los Angeles Lakers at Crypto.com Arena in Los Angeles on Jan. 7, 2024.Jevone Moore | Icon Sportswire | Getty ImagesThe U.S. media world was rushing — or...
NYCB reignites banking industry, commercial real estate fears
The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty ImagesEmbattled lender New York Community Bank disclosed a litany of financial metrics in the past 24 hours in a bid to soothe...
Disney is releasing a ‘Moana’ sequel in theaters this Thanksgiving
Still from Disney Animation's "Moana."DisneyHow far will Disney go? Back to ancient Polynesia, it seems.On Wednesday, Disney CEO Bob Iger revealed that the untitled Disney Animation film slated for Thanksgiving is a sequel to the beloved 2016 film "Moana."The news...
Spirit Airlines (SAVE) Q4 2023 earnings
A Spirit Airlines plane awaits takeoff at LaGuardia Airport in New YorkLeslie Josephs/CNBCSpirit Airlines' fourth-quarter loss narrowed to nearly $184 million, but its CEO said the carrier is back on the path to profitability.The carrier is trying to find its footing...
Disney to take $1.5 billion stake in Epic Games, maker of Fortnite
Rafael Henrique | Lightrocket | Getty ImagesDisney is investing $1.5 billion for a stake in Epic Games, CEO Bob Iger said Wednesday, in its biggest bet yet on the gaming space.The media giant will work with the Fortnite studio to create new games and an entertainment...
Warner Music to cut 600 jobs, or 10% of staff
The Warner Music Group logo is displayed on a smartphone.Sopa Images | Lightrocket | Getty ImagesWarner Music is laying off 600 employees, or about 10% of its workforce, according to a Wednesday filing.The company said the layoffs are part of a broader restructuring...
Taylor Swift Eras Tour film to stream on Disney+ starting March 15
Taylor Swift performs during opening night of her The Eras Tour at Soldier Field in Chicago on June 2, 2023.Chicago Tribune |Getty…Ready for it?Taylor Swift's filmed Eras Tour has found a home on Disney+. The concert film will arrive on the platform on March 15,...
ESPN will launch its flagship direct-to-consumer service in fall 2025
A detail view of a broadcast camera is seen with the NFL crest and ESPN Monday Night Football logo on it during a game between the Chicago Bears and the Minnesota Vikings at Soldier Field in Chicago on Dec. 20, 2021.Icon Sportswire | Icon Sportswire | Getty ImagesESPN...
Nelson Peltz isn’t abandoning proxy fight
Nelson Peltz, founding partner and CEO of Trian Fund Management, speaks with CNBC's Andrew Ross Sorkin on July 17, 2013 in New York.Heidi Gutman | CNBC, NBCU Photo Bank, NBCUniversal via Getty ImagesAre you not entertained, Nelson Peltz?Disney shares jumped 6% in...
Spirits sales top beer and wine in 2023
Spirits on display at a bar in Cardiff, Wales, in the United Kingdom.Matthew Horwood | Getty Images News | Getty ImagesThe spirits industry held its market share edge over beer and wine for the second straight year in 2023, even as it showed little growth, according...
Disney (DIS) earnings report Q1 2024
LOS ANGELES – The Walt Disney Company will report fiscal first quarter results after the bell Wednesday as its board battles again with activist investor Nelson Peltz and Blackwells Capital.The media behemoth will also post earnings a day after it announced its sports...
GM, LG Chem announce $19 billion deal for EV battery materials
2025 Cadillac Escalade IQGMDETROIT – General Motors plans to spend $19 billion over roughly the next decade to source critical materials for use in electric vehicle batteries from LG Chem, the companies said Wednesday.The long-term supply contract will see LG Chem...
Public utilities fall short on wildfire risk mitigation
Five years and 2,500 miles apart, fires devastated thriving communities — and major U.S. utility companies stood at the center of the infernos.It's a story increasingly familiar in the energy industry: Some utility companies don't properly assess the risks wildfires...
Moody’s downgrades bank’s credit rating to junk; shares tumble
A sign is pictured above a branch of the New York Community Bank in Yonkers, New York, U.S., January 31, 2024. Mike Segar | ReutersNew York Community Bank's shares churned early Wednesday after Moody's Investors Service cut the firm's credit rating two notches to junk...
Yum Brands (YUM) Q4 2023 earnings
KFC and Taco Bell restaurants along 118th Avenue in Edmonton, on January 21, 2024, in Edmonton, Alberta, Canada.Artur Widak | Nurphoto | Getty ImagesYum Brands on Wednesday reported quarterly earnings and revenue that missed analysts' expectations as KFC, Taco Bell...
CVS Heath (CVS) Q4 2023 earnings
A CVS location in New York, US, on Thursday, Feb. 9, 2023.Stephanie Keith | Bloomberg | Getty ImagesCVS Health on Wednesday reported fourth-quarter revenue and adjusted earnings that topped expectations, but the company cut its full-year profit outlook, citing higher...
Novo Nordisk, Eli Lilly tackle weight loss drug supply woes
Good afternoon! All eyes are on Novo Nordisk and Eli Lilly again as Wall Street looks for signs that they can address one of the biggest hurdles they faced last year. Neither company has enough supply to meet the insatiable demand for their weight loss and diabetes...
Chipotle Mexican Grill (CMG) Q4 2023 earnings
People visit a Chipotle restaurant in Miami on Feb. 9, 2022.Joe Raedle | Getty ImagesChipotle Mexican Grill on Tuesday posted quarterly earnings and revenue that beat analysts' expectations as more customers visited its restaurants.Shares of the company rose more than...
Ford reassessing EV plans, including vertical battery integration
A Ford Mustang Mach-E GT compact sports utility vehicle during the 2022 New York International Auto Show in New York on April 14, 2022.Michael Nagle | Bloomberg | Getty ImagesDETROIT — Ford Motor is rethinking its electric vehicle strategies, including "reassessing"...
ESPN, Fox, Warner Bros. to launch joint sports streaming platform
Walt Disney's ESPN, Fox and Warner Bros. Discovery plan to launch a joint sports streaming service this fall, giving consumers a new way to access marquee live sports for the first time, the companies said Tuesday.The platform, which will be owned by a newly formed...
Bolts appeared missing from Alaska Air plane
In this photo released by the National Transportation Safety Board, investigator-in-charge John Lovell examines the fuselage plug area of Alaska Airlines Flight 1282 in Portland, Oregon, on Jan. 7, 2024.National Transportation Safety Board via APBolts appeared to have...
Eli Lilly weight loss drug may treat fatty liver disease
An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023. Brendan McDermid | ReutersEli Lilly on Tuesday said its highly popular drug used for weight loss and diabetes showed promise as a treatment for fatty...
Ford (F) Q4 2023 earnings
Ford CEO Jim Farley at the company's Dearborn, Michigan, plant where it's building the electric F-150 Lightning on April 26, 2022.CNBC | Michael WaylandDETROIT — Ford Motor is announcing fourth-quarter and 2023 earnings after the markets close Tuesday.Here's what Wall...
Toyota to invest $1.3 billion for large all-electric SUV in Kentucky
Akio Toyoda, Chairman of Toyota Motor Corp.Yoshikazu Tsuno | Gamma-rapho | Getty ImagesToyota Motor is investing $1.3 billion in a Kentucky plant to produce a new all-electric, three-row SUV for the U.S. market, the company said Tuesday.The vehicle is expected to go...
Eli Lilly (LLY) earnings Q4 2023
Eli Lilly logo is shown on one of the company's offices in San Diego, California, U.S., September 17, 2020. Mike Blake | ReutersEli Lilly on Tuesday reported fourth-quarter revenue and adjusted earnings that topped expectations on the strong launch of its new weight...
McDonald’s and Starbucks blame Israel-Hamas war for slower sales
People dit at McDonald's outdoor seating after going out on a Saturday night along Rothschild Street on June 11, 2022 in Tel Aviv, Israel. Alexi Rosenfeld | Getty ImagesMcDonald's and Starbucks, two of the biggest U.S. restaurant companies, both said the Israel-Hamas...
Mortgage rates back over 7%, as stronger economic data rolls in
This photo taken on Aug. 22, 2023 shows an advertisement in front of a real estate for sales in Millbrae, California, the United States. The sales of previously owned homes in the United States dropped 2.2 percent in July from June to a seasonally adjusted, annualized...
Novo Nordisk parent to buy Catalent to expand Wegovy supply
Injection pens of Novo Nordisk's weight-loss drug Wegovy are shown in this photo illustration in Oslo, Norway, November 21, 2023. Victoria Klesty | ReutersNovo Nordisk's parent company on Monday said it will acquire drug manufacturer Catalent in a $16.5 billion deal...
McDonald’s (MCD) Q4 2023 earnings
Visitors are attending a New Year event held by McDonald's in Shanghai, China, on January 25, 2024. Costfoto | Nurphoto | Getty ImagesMcDonald's is expected to report its fourth-quarter earnings before the bell on Monday.Here's what Wall Street analysts surveyed by...
McDonald’s launches ‘Best Burger’ ahead of earnings report
A man drinks a coke and eats a Big Mac at a McDonald's in Cologne, Germany, on May 25, 2015.Oliver Berg | picture alliance | Getty ImagesMcDonald's has upgraded its burgers — but it's unclear if its sales will get the same boost.The fast-food giant has outperformed...
Macy’s CEO Tony Spring takes over for Jeff Gennette
Tony Spring speaks at an event unveiling the Macy's new women's apparel brand, On 34th, in July. Spring is former CEO of Bloomingdale's and begins as Macy's CEO in February 2024, succeeding longtime Macy's CEO Jeff Gennette, right.Melissa Repko | CNBCInside its...
LVMH luxury watches at Watch Week in Miami
Luxury giant LVMH is making a push to gain share of the global luxury watch business, with a newly formed watch division and an array of new, higher-priced models.Sales of luxury watches worldwide are estimated at about $30 billion this year, according to market...
Why Shari Redstone needs the right deal
Shari Redstone, president of National Amusements, speaks at the WSJ Tech Live conference in Laguna Beach, California, on Oct. 21, 2019.Mike Blake | ReutersParamount Global nonexecutive chair and controlling shareholder Shari Redstone has been talking to potential...
Spotify renews deal with podcaster Joe Rogan
Podcaster and comedian Joe Rogan.Vivian Zink | SYFY | NBCUniversalSpotify has signed a new blockbuster deal with polarizing podcaster and comedian Joe Rogan, but this time, his show won't be exclusive to Spotify, the company announced Friday in a news release.The...
Fourth-quarter earnings shaping up to be the best of 2023
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 1, 2024. Brendan McDermid | ReutersHere's how big of a surprise corporate profits have been this earnings season: the fourth-quarter is now shaping up to be the best of...
Manufacturing and construction sectors are hiring
Construction workers erect a building in downtown Miami, Florida, on June 14, 2023.Jim Watson | AFP | Getty ImagesAt Ample's manufacturing facilities in the Bay Area, employees work on the floor alongside robots, making battery packs and other parts for its EV battery...
NFL bars teams from gambling in Las Vegas
Nick Laham | Getty ImagesThe NFL is holding the Super Bowl in the gambling capital of the U.S. for the first time, but Commissioner Roger Goodell is reminding team personnel that they are not allowed to take part in the action.Goodell sent out a memo on Thursday ahead...
Ford hybrid vehicle sales surge to offset EV decline in January
DETROIT – Ford Motor started the year with a slight increase in sales, as a large jump in hybrid vehicles offset an 11% decline in all-electric cars and trucks.The Detroit automaker on Friday reported sales rose 4.3% last month from January 2023, led by a 43% jump in...
Goldman Sachs-backed electricity firm to reach more Americans’ homes
Omar Marques | Lightrocket | Getty ImagesGoldman Sachs abandoned an ill-fated push into consumer banking in late 2022, but an investment in a Texas energy retailer means its reach into American homes is about to grow.Rhythm Energy, a Houston-based electricity provider...
Domestic box office could top $10 billion in 2026, thanks to Disney
LOS ANGELES — A push toward streaming, a pandemic and two Hollywood labor strikes have upended the theatrical industry, dragging on annual box-office hauls.While 2024 and 2025 boast franchise-rich movie slates, Wall Street doesn't expect ticket sales to top $10...
Barington pushes Mattel to fix or sell off American Girl, Fisher-Price
The Mattel Inc. logo is displayed outside the headquarters of the toy company known for products including Barbie and Hot Wheels in El Segundo, California, on June 8, 2023.Patrick T. Fallon | AFP | Getty ImagesActivist investor Barington Capital is pushing Mattel to...
Bristol Myers Squibb (BMY) Q4 earnings report 2023
Bristol Myers Squibb reported quarterly earnings and revenue that topped expectations on Friday as its portfolio of new drugs posted strong sales growth. Here's what the company reported for the fourth quarter compared with what Wall Street was expecting, based on a...
Carvana targets redemption after bankruptcy concerns, restructuring
A Carvana sign and signature vending machine in Tempe, Ariz.Michael Wayland/CNBCPHOENIX – As layoffs and cost cuts roil Wall Street, from retail and shipping to tech and media, embattled online used car sales giant Carvana says its own restructuring is in the rear...
Small business optimism rises despite inflation: Goldman Sachs survey
U.S. President Joe Biden speaks during a Rose Garden event at the White House to mark National Small Business Week on May 1, 2023 in Washington, DC.Alex Wong | Getty ImagesSmall business owners are more optimistic to start the year, even as they face persistent...
Wilson tennis racket maker to trade on NYSE
Wilson products at the Paragon Sports store in the Chelsea neighborhood of New York on Jan. 4, 2024.Jeenah Moon | Bloomberg | Getty ImagesAmer Sports, the Finnish athletic company behind the Wilson tennis racket and Arc'teryx, is set to start trading on the New York...
Lululemon to launch first men’s footwear line
Canadian sportswear clothing band, Lululemon store in Hong Kong.Budrul Chukrut | Lightrocket | Getty ImagesLululemon is launching its first men's footwear line and casual sneaker as the retailer looks for new avenues of growth in the increasingly crowded athletic...
Ferrari (RACE) Q4 2023 earnings
Car key for the Ferrari Purasangue SUVAdam Jeffery | CNBCFerrari topped Wall Street's top- and bottom-line earnings expectations for the fourth quarter to finish off a record year of profits for the luxury sports car manufacturer.The automaker reported a net profit of...
Peloton (PTON) earnings Q2 2024
Peloton managed to turn a gross profit off of its pricey connected fitness products for a second quarter in a row, but the company said Thursday it expects more challenges ahead after it failed to reach a number of goals CEO Barry McCarthy outlined a year ago. The...
Merck (MRK) Q4 earnings report 2023
The logo for Merck & Co. is displayed on a screen at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. Andrew Kelly | ReutersMerck on Thursday reported fourth-quarter revenue and adjusted earnings that topped estimates as...
Adidas will not write off remaining Yeezy inventory
Shoes are offered for sale at an Adidas store in Chicago on Feb. 10, 2023.Scott Olson | Getty ImagesAdidas announced on Wednesday that it won't write off the majority of its unsold Yeezy inventory and instead plans to sell the remaining shoes "at least" at the cost it...
Paramount bidder Byron Allen has long history of failed media bids
Byron Allen, founder, chairman and CEO of the Allen Media Group, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022.Patrick T. Fallon | AFP | Getty ImagesByron Allen, the media mogul offering $14 billion for Paramount...
Studios rethink streaming strategy amid Wall Street profitability push
Bebe Wood, Renee Rapp and Avantika Vandanapu star as The Plastics in the 2024 adaptation of "Mean Girls."ParamountParamount is making a habit of greenlighting low- to mid-budget films for its streaming service, only to about-face and send them to theaters first.As the...
Voyager’s Starlab space station buys SpaceX Starship launch
An artist's rendering of the Starlab space station in low Earth orbit.Voyager Space / Starlab Space LLCA contract written in the stars.Private station Starlab will fly on a Starship rocket later this decade to get to orbit, the companies developing both spacecraft...
GSK posts blowout RSV vaccine sales, raises outlook
Company logo of pharmaceutical company GlaxoSmithKline is seen at their Stevenage facility, Britain October 26, 2020. Dado Ruvic | ReutersGlaxoSmithKline on Wednesday lifted its long-term outlook following the smash-hit launch of its new RSV vaccine.The shot targeting...
Biogen drops Alzheimer’s drug Aduhelm to focus on Leqembi, others
The Biogen headquarters in Cambridge, Massachusetts, on Tuesday, Oct. 24, 2023.Vanessa Leroy | Bloomberg | Getty ImagesBiogen on Wednesday said it will discontinue the sale and development of its older and highly controversial Alzheimer's drug Aduhelm to refocus the...
PGA Tour gets investment from Strategic Sports Group amid LIV talks
The PGA Tour logo is seen during the third round of the Travelers Championship at TPC River Highlands in Cromwell, Connecticut, on June 24, 2017.Fred Kfoury | Icon Sportswire | Getty ImagesA U.S. consortium has agreed to invest up to $3 billion into the PGA Tour, the...
Walmart plans to add more than 150 large-format stores in U.S.
An exterior view of a closing Walmart store in Everett. A Walmart store in Everett, Washington, announced its closure and is currently in a liquidation sale. With this, a lot of Walmart employees have lost their jobs.Chin Hei Leung | Lightrocket | Getty ImagesWalmart...
Starbucks’ earnings report was weak — but Wall Street expected worse
A customer exits a Starbucks store in Manhattan on Jan. 30, 2024, in New York City.Spencer Platt | Getty ImagesWall Street is shaking off Starbucks' weak quarterly report, seemingly taking executives at their word that the company's challenges are "transitory."The...
Vertex non-opioid painkiller shows positive late-stage trial results
A sign hangs in front of the world headquarters of Vertex Pharmaceuticals in Boston on Oct. 23, 2019.Brian Snyder | ReutersVertex Pharmaceuticals on Tuesday said its experimental painkiller, which is being tested as an alternative to addictive opioids, significantly...
Walmart announces 3-for-1 stock split as shares hover below all-time high
A worker carries bananas inside the Walmart Supercenter in North Bergen, New Jersey.Eduardo Munoz Alvarez | APWalmart announced a three-for-one stock split on Tuesday as the retailer's shares sit just below their all-time high.The company said the additional shares...
Starbucks (SBUX) Q1 2024 earnings
A Starbucks coffee cup sits on a table at one of the coffee chain's locations in Miami, Florida, on June 11, 2021.Joe Raedle | Getty Images News | Getty ImagesStarbucks on Tuesday reported quarterly earnings and revenue that missed Wall Street's expectations as both...
Boeing (BA) Q4 2023 earnings
A grounded Boeing 737 Max 9 aircraft at Los Angeles International Airport.Eric Thayer | Bloomberg | Getty ImagesBoeing on Wednesday is set to report fourth-quarter results and answer to investors eager to hear how a midair blowout on one of the plane maker's new 737...
J&J, Merck and Bristol Myers Squibb in the hot seat
Think a friend or colleague should be getting this newsletter? Share this link with them to sign up.Good afternoon! This is Annika Kim Constantino, and I cover the biotech and pharmaceutical industry for CNBC.com. Three names in the industry – Johnson & Johnson,...
Tom Brady nutrition, apparel brands merging with Nobull
Tom Brady will become the No. 2 shareholder of Nobull.Courtesy: NobullSeven-time Super Bowl Champion Tom Brady is merging his health and nutrition company, TB12, and his apparel company, Brady, with training brand Nobull.As part of the deal, Brady will become the No....
New York sues Citibank for alleged failure to reimburse fraud victims
A Citibank branch in the central business district of Singapore on Feb. 12, 2018.Ore Huiying | Bloomberg | Getty ImagesNew York Attorney General Letitia James on Tuesday sued Citibank for allegedly failing to protect and reimburse victims of electronic fraud.The suit...
Carnival reroutes cruises as Red Sea tensions rise
The Carnival Radiance cruise ship at the Avalon, California, harbor on May 19, 2023.Aaronp/bauer-griffin | Gc Images | Getty ImagesCarnival announced Tuesday it would reroute cruise itineraries for a dozen ships scheduled to transit the Red Sea as tensions rise in the...
Home prices November S&P Case-Shiller
A sign stands outside an upscale home for sale in the Lake Pointe Subdivision of Austin, Texas.Ed Lallo | Bloomberg | Getty ImagesHome prices in November fell 0.2% from October, according to the S&P CoreLogic Case-Shiller national home price index. While that may...
GM to release plug-in hybrid vehicles, backtracking on product plans
General Motors reveals the new 2016 Chevrolet Volt to the media at the 2015 North American International Auto Show on January 12, 2015 in Detroit, Michigan.Getty ImagesDETROIT – General Motors is changing its product lineup strategy to include plug-in hybrid electric...
JetBlue Airways (JBLU) earnings Q4 2023
JetBlue Airways swung to a loss in the fourth quarter and forecast lower capacity this year as it scrambles to return to profitability.The airline expects revenue to drop between 5% and 9% in the first three months of the year, more than the 5.5% decline Wall Street...
UPS announces 12,000 job cuts; reports drop in package volume
A United Parcel Service truck searches for a house driving along the coast of Cape Cod on July 24, 2023 in Orleans, Massachusetts. Robert Nickelsberg | Getty ImagesUPS fell short of Wall Street revenue estimates Tuesday, reporting drops in shipping volume, both...
Pfizer (PFE) Q4 earnings report 2023
Pfizer on Tuesday posted a surprise adjusted fourth-quarter profit, as the company's declining Covid business performed better than expected.The company reversed roughly $3.5 billion in revenue related to the expected return of 6.5 million doses of its Covid drug,...
Retail return fraud is rising as consumers send back holiday purchases
As retailers tried to win shoppers and boost sales in recent years, they made their online return policies more lenient than ever.But those changes have come at a cost.As more consumers shop online and send back more of those orders, retailers have moved to crack down...
General Motors (GM) earnings Q4 2023
A GMC pickup truck is displayed for sale on a lot at a General Motors dealership in Austin, Texas, on Jan. 5, 2023.Brandon Bell | Getty ImagesDETROIT — General Motors is set to report its fourth-quarter earnings before the bell Tuesday.Here's what Wall Street is...
Starbucks Oleato olive oil drinks launch across the U.S.
Starbucks is launching its beverages called Oleato in all U.S. stores.Courtesy: StarbucksStarbucks is launching its olive oil-infused drinks in all U.S. stores beginning Tuesday, the company said.The beverages, named Oleato, debuted in Italy in February 2023 after...
FanDuel-parent Flutter lists on the NYSE, challenging DraftKings
FanDuel-parent Flutter lists on the New York Stock Exchange Monday, offering U.S. investors an alternative to the biggest pure play in sports betting, DraftKings.It's a secondary listing for the international sportsbook, which will retain its primary listing on the...
Big pharma Merck, Bristol Myers, J&J prepare to lose revenue
The New York Stock Exchange welcomes Johnson & Johnson (NYSE: JNJ) to the podium. NYSEBig pharmaceutical companies such as Bristol Myers Squibb, Merck and Johnson & Johnson face a looming threat that will put tens of billions of dollars in sales at risk...
Why kids streaming content is vital to subscriber growth
Tinky-Winky, Laa-Laa, Dipsy and Po pose for a photo as the Teletubbies celebrate their 25th anniversary with the Lighting of the Iconic Empire State Building on April 26, 2022 in New York City.John Lamparski | Getty Images Entertainment | Getty Images"Tinky Winky....
Three space companies at risk of running out of cash
A view from onboard the upper stage of rocket LV0009 during the company's livestream on March 15, 2022.Astra / NASASpaceflightThe space sector's on the tail end of a boom-and-bust cycle. While many companies battened down the hatches to survive, a few publicly-traded...
Merck, J&J CEOs agree to testify in Senate hearing on drug prices
Sen. Bernie Sanders, I-Vt., holds his news conference with Sen. Ed Markey, D-Mass., in the Capitol on Thursday, January 25, 2024, on issuing subpoenas for pharmaceutical company CEOs to testify regarding drug prices.Bill Clark | Cq-roll Call, Inc. | Getty ImagesThe...
Retail CEO turnover soars, fewer women hold CEO jobs
Michelle Gass, chief executive officer of Kohls Corp., at the National Retail Federation Inc. annual honors in New York, Jan. 12, 2020.Bess Adler | Bloomberg | Getty ImagesTurnover in C-suites spiked across industries last year — and in retail in particular.Next week,...
JPMorgan Chase shuffles top leaders under Jamie Dimon
Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.Adam Galici | CNBCJPMorgan Chase on Thursday said several executives considered...
Arkhouse Macy’s take-private financing is in place, Kahane says
Arkhouse has the financing in place to take Macy's private at a bid of $5.8 billion, managing partner Gavriel Kahane told CNBC Thursday, but the activist investor has run into roadblocks without the department store retailer's cooperation on due diligence. "At this...
GM Cruise probe finds poor leadership at center of accident response
Chevrolet Cruise autonomous vehicles sit parked in a lot in San Francisco, June 8, 2023.Justin Sullivan | Getty Images News | Getty ImagesCulture issues, ineptitude and poor leadership at General Motors' Cruise autonomous vehicle unit were at the center of regulatory...
WWE boss Vince McMahon sued over alleged sexual assault, trafficking
TKO Executive Chairman of the Board Vince McMahon is seen during a ceremony announcing Dwayne "The Rock" Johnson has joined the Board of Directors for TKO at New York Stock Exchange on January 23, 2024 in New York City.Michelle Farsi | UFC | Getty ImagesWWE boss Vince...
Paramount CEO Bob Bakish announces layoffs
Paramount executive Bob Bakish attends the 2022 MTV Europe Music Awards (EMAs) at the PSD Bank Dome in Duesseldorf, Germany, November 13, 2022. Thilo Schmuelgen | ReutersParamount CEO Bob Bakish announced layoffs at the media company Thursday, citing a need to...
Humana reports grim 2024 forecast due to soaring medical costs
Signage is displayed on a Humana Inc. office building in Louisville, Kentucky, U.S., on Sunday, Feb. 3, 2019. Humana is scheduled to release earnings figures on February 6. Photographer: Luke Sharrett/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty...
Home sales dampened by severe winter weather, Redfin says
A "For Sale" sign stands outside a home following a snow fall in Geneseo, Illinois, U.S., on Monday, Jan. 20, 2020. The National Association Of Realtors is scheduled to release Existing Homes Sales figures on January 22. Photographer:Bloomberg | Bloomberg | Getty...
Hamptons La Dune mansion once listed for $150 million sells at auction
A Hamptons estate that once listed for $150 million before falling into bankruptcy was sold at auction Wednesday for $88.5 million.The four-acre estate in Southampton, New York, known as La Dune, was sold by Concierge Auctions at a starting bid of $66 million. The...
GM, Honda begin U.S. fuel cell production toward replacing diesel
An employee assembles a fuel cell system in the module final assembly at Fuel Cell System Manufacturing LLC, GM and Honda's fuel cell joint venture in Brownstown, Michigan.Courtesy imageBROWNSTOWN, Mich. – General Motors and Honda Motor have begun commercial...
Comcast (CMCSA) earnings Q4 2023
Omar Marques | Lightrocket | Getty ImagesComcast topped both revenue and profit estimates in the fourth quarter as it lost fewer broadband subscribers than expected, and it raised its dividend 7%, the company said Thursday.Here's how Comcast performed, compared with...
Southwest Airlines takes Boeing Max 7 out of fleet plan for 2024
Southwest Airlines ranked as the second-best domestic airline, according to Bounce's 2023 Airline Index.Aaronp/bauer-griffin | Gc Images | Getty ImagesSouthwest Airlines has taken the Boeing 737 Max 7 out of its fleet plans as regulators haven't yet certified the...
American Airlines (AAL) Q4 2023 earnings
Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023. JanValls | Nurphoto | Getty ImagesAmerican Airlines on Thursday posted a $19 million profit for the last three months of 2023, topping Wall...
Boeing 737 Max 9 grounding will cost $150 million
Alaska Airlines N704AL, a 737 Max 9, which made an emergency landing at Portland International Airport on January 5 is parked at a maintenance hanger in Portland, Oregon on January 23, 2024. Patrick T. Fallon | AFP | Getty ImagesAlaska Airlines said Thursday that the...
Boeing CEO meets with lawmakers as 737 Max 9 scrutiny builds
Alaska Airlines N704AL, a 737 Max 9, which made an emergency landing at Portland International Airport on January 5 is parked at a maintenance hanger in Portland, Oregon on January 23, 2024. Patrick T. Fallon | AFP | Getty ImagesBoeing CEO Dave Calhoun met with...
FAA halts production expansion, OKs inspection instructions
Alaska Airlines N704AL is seen grounded in a hangar at Portland International Airport in Portland, Oregon, on Jan. 9, 2024.Mathieu Lewis-rolland | Getty ImagesThe Federal Aviation Administration on Wednesday halted Boeing's planned expansion of its 737 Max aircraft...
David Ellison’s Skydance Media explores buying Paramount Global
Shari Redstone, president of National Amusements and Vice Chairman, CBS and Viacom speaks at the WSJTECH live conference in Laguna Beach, California, U.S. October 21, 2019. Mike Blake | ReutersDavid Ellison's Skydance Media and its financial backers are exploring a...
UAW endorses Biden over Trump in 2024 election
U.S. President Joe Biden joins striking members of the United Auto Workers (UAW) on the picket line outside the GM's Willow Run Distribution Center, in Bellville, Wayne County, Michigan, U.S., September 26, 2023. Evelyn Hockstein | ReutersThe United Auto Workers union...
Jon Stewart returns to ‘The Daily Show’ — but only on Mondays
The Late Show with Stephen Colbert and guest Jon Stewart during Monday's June 17, 2019 showCBS Photo Archive | CBS | Getty ImagesJon Stewart is returning to "The Daily Show" — but only on Mondays.The comedian helmed the Comedy Central talk show between 1999 and 2015,...
Tyson Foods drops CVS, picks Rightway pharmacy benefit manager
Tyson Foods Inc., sign at Tyson headquarters in Springdale, Ark.April L. Brown | APTyson Foods will become one of the first Fortune 100 companies to stop using the nation's traditional large pharmacy benefits managers, as it looks to cut spending on high-cost drugs....
Klarna to debut $7.99 monthly plan ahead of IPO
Swedish buy now, pay later firm Klarna unveils a $7.99 monthly subscription plan called Klarna PlusCourtesy: KlarnaSwedish fintech firm Klarna is launching a monthly subscription plan in the U.S. to lock in its heaviest users ahead of an expected initial public...
Chipotle aims to hire 19,000 workers ahead of spring
A "Now Hiring" sign is displayed in front of a Chipotle restaurant on October 07, 2022 in Washington, DC.Anna Moneymaker | Getty ImagesChipotle Mexican Grill hopes to recruit 19,000 new employees to make its burritos and bowls this spring, the company said...
FAA chief vows ‘boots on ground’ to get quality control
Michael Whitaker, nominee to be the next administrator of the Federal Aviation Administration (FAA), testifies during a Senate Committee on Commerce, Science, and Transportation hearing on Capitol Hill October 4, 2023 in Washington, DC. The FAA has been without a...
Netflix is preparing investors and users for more price hikes in 2024
The Netflix logo displayed on a phone screen and its website on a laptop screen are seen in this photo taken in Krakow, Poland, June 8, 2023.Jakub Porzycki | Nurphoto | Getty ImagesGet ready to pay more money for Netflix.You had to read down to page six of Netflix's...
Netflix WWE deal doesn’t mean more sports investment
Dwayne ''The Rock'' Johnson and John Cena in action during WrestleMania XXVIII at Sun Life Stadium on April 1, 2012 in Miami Gardens, Florida.Ron Elkman | sports Imagery | Getty Images Sport | Getty ImagesNetflix co-Chief Executive Officer Ted Sarandos wants to make...
Johnson & Johnson to settle talc baby powder probe
Containers of Johnson and Johnson baby powder are displayed on a Walgreens shelf on April 05, 2023 in San Anselmo, California.Justin Sullivan | Getty ImagesJohnson & Johnson has reached a tentative settlement to resolve an investigation by more than 40 states into...
‘Barbie’, ‘Oppenheimer’ biggest best picture box office
Movie posters for "Barbie" and "Oppenheimer" are pictured outside the Cinemark Somerdale 16 and XD in Somerdale, New Jersey, in 2023.Hannah Beier | The Washington Post | Getty Images"Barbenheimer" strikes again.It's no surprise that Warner Bros.' "Barbie" and...
Netflix (NFLX) earnings Q4 2023
The Netflix logo is shown on one of the streaming giant's Hollywood buildings in Los Angeles on July 12, 2023.Mike Blake | ReutersLOS ANGELES — Netflix is due to report fourth-quarter earnings after the closing bell Tuesday.The company's performance has been an...
Procter & Gamble SK-II beauty sales hurt by Japan wastewater release
Large advertisement of Japanese luxury skin care products brand, SK-II, in Causeway Bay, Hong Kong.Miguel Candela | Lightrocket | Getty ImagesProcter & Gamble on Tuesday said sales of its high-end SK-II skincare brand fell 34% in the Greater China region during...
Airline stocks rise as United kicks off busy earnings week
Boeing 787-10 Dreamliner, from United Airlines company, taking off from Barcelona airport, in Barcelona on 28th March 2023. JanValls | Nurphoto | Getty ImagesUnited Airlines shares rose about 4% Tuesday after the company reported higher-than-expected earnings and...
United CEO casts doubt on Boeing 737 Max 10 order
United Airlines is weighing fleet plans without the Boeing 737 Max 10 after a series of delays and most recently, the grounding of a smaller variant of the plane, the carrier's CEO said Tuesday.The Max 10 is the largest model of the plane and hasn't yet been certified...
Rugged design, standard heated seats
The 2025 Chevrolet Equinox RS.ChevroletDETROIT — General Motors is redesigning its gas-powered Chevrolet Equinox crossover to look more rugged than its predecessors in an attempt to move the vehicle upmarket and attract new buyers.The 2025 Equinox, which GM revealed...
Netflix to stream WWE Raw starting next year
Netflix and TKO Group Holdings said Tuesday that the streaming platform will air the WWE's flagship program Raw starting next year, in Netflix's first major foray into live sports.The 10-year deal is valued at more than $5 billion, according to a company filing....
United Airlines (UAL) Q4 2023 earnings
A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport on March 13, 2019.Justin Sullivan | Getty ImagesUnited Airlines on Monday forecast a first-quarter loss due to the Federal Aviation Administration's grounding of Boeing 737 Max 9...
Procter & Gamble (PG) Q2 2024 earnings
A Procter & Gamble (P&G) logo is seen during the 6th China International Import Expo (CIIE) at the National Exhibition and Convention Center (Shanghai) on November 7, 2023 in Shanghai, China.VCG | Getty ImagesProcter & Gamble on Tuesday reported mixed...
Johnson & Johnson (JNJ) earnings Q4 2023
The stock trading graph of Johnson & Johnson is seen on a smartphone screen.Rafael Henrique | SOPA Images | LightRocket | Getty ImagesJohnson & Johnson on Tuesday reported fourth-quarter earnings and revenue that narrowly edged out Wall Street's expectations...
Oatly, Carvel ice cream partnership boosts stock
Containers of Oatly frozen desserts are displayed on a shelf at a Whole Foods store in San Rafael, California, on Nov. 15, 2021.Justin Sullivan | Getty ImagesOatly and Carvel said on Monday that they will partner to add oat milk-based items at the chain's ice cream...
United Airlines (UAL) Q4 2023 earnings
A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport on March 13, 2019.Justin Sullivan | Getty ImagesUnited Airlines on Monday forecast a first-quarter loss due to the Federal Aviation Administration's grounding of Boeing 737 Max 9...
Gilead stock falls after disappointing lung cancer study results
Sopa Images | Lightrocket | Getty ImagesShares of Gilead fell more than 10% on Monday after a key drug from the company did not significantly extend the lives of patients with a certain lung cancer in a late-stage trial.The results are a blow to Gilead, which is...
Spirit Airlines stock rebounds after appeal of JetBlue merger block
Spirit and JetBlue planes at Fort Lauderdale-Hollywood International Airport (FLL) in Fort Lauderdale, Florida, US, on Wednesday, Nov. 1, 2023. Eva Marie Uzcategui | Bloomberg | Getty ImagesSpirit Airlines shares jumped about 10% Monday after the budget carrier and...
China poses growing threat to U.S. auto industry
A BYD Seagull small electric car is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai)Vcg | Visual China Group | Getty ImagesDETROIT – Chinese automakers pose a growing threat to...
Shoppers deal with holiday debt
Pedestrians walk by an advertisement for Klarna.Daniel Harvey Gonzalez | In Pictures via Getty ImagesWhen she started shopping for the holidays late last year, Kiki Andersen was struggling to buy her loved ones gifts. So she turned to a novel solution to get through...
Why United Airlines invested $1 billion in Denver Airport
Last year was Denver International Airport's busiest on record.While airline stocks have yet to fully recover to pre-pandemic levels, passengers have returned in droves — and millions of them are flying through the Colorado hub."We will end 2023 much higher than our...
December home sales slump to close out worst year since 1995
A delivery man delivers packages in a Los Angeles neighborhood on January 17, 2024. Frederic J. Brown | AFP | Getty ImagesSales of previously owned homes fell 1% in December compared with November to 3.78 million units on a seasonally adjusted annualized basis,...
Alec Baldwin charged again in 2021 ‘Rust’ movie set shooting
An image of cinematographer Halyna Hutchins, who died after being shot by Alec Baldwin on the set of his movie "Rust," is displayed at a vigil in her honor in Albuquerque, New Mexico, on Oct. 23, 2021.Kevin Mohatt | ReutersA New Mexico grand jury on Friday indicted...
JetBlue, Spirit appeal judge ruling that blocks their proposed merger
Spirit and JetBlue planes at Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on Nov. 1, 2023.Eva Marie Uzcategui | Bloomberg | Getty ImagesJetBlue Airways and Spirit Airlines on Friday said they are appealing a federal judge's ruling...
American Express CEO says spending is strong, delinquencies are down from 2019
Stephen Squeri, chairman and chief executive officer of American Express Co., speaks during an Economic Club of New York event in New York, US, on Thursday, Nov. 10, 2022.Stephanie Keith | Bloomberg | Getty ImagesAmerican Express CEO Stephen Squeri on Friday said the...
JetBlue to cut some routes after judge bars Spirit purchase
The JetBlue drop-off area at New York's LaGuardia Airport on Oct. 31, 2023.Leslie Josephs/CNBCJetBlue Airways told staff this week that it will cut some routes and service as it struggles to return to profitability and grapples with the fallout of its blocked plan to...
Stellantis CEO says automaker won’t sell EVs at a loss
Carlos Tavares, CEO of Stellantis, poses during a presentation at the New York International Auto Show in Manhattan, New York, on April 5, 2023.David Dee Delgado | ReutersStellantis won't sell electrified vehicles such as hybrids and all-electric models at a loss like...
Beyond Yoga names Athleta, Gap veteran Nancy Green CEO
Levi Strauss' Beyond Yoga has tapped former Athleta CEO and longtime Gap veteran Nancy Green to be its next chief executive, as the company looks to scale beyond its modest roots and compete with industry leaders such as Lululemon and upstarts such as Alo Yoga and...
Insurance costs hit corporate earnings at Travelers and J.B. Hunt
A stealth inflationary cost is biting into corporate profits. While some companies are now seeing lower input and freight costs, one expense is not falling: insurance.In its earnings report Friday morning, Dow component Travelers said insurance premiums that it...
JetBlue-Spirit ruling doesn’t spell doom for Alaska-Hawaiian merger
Alaska and Hawaiian Airlines planes takeoff at the same time from San Francisco International Airport (SFO) in San Francisco, California, United States on June 21, 2023.Tayfun Coskun | Anadolu Agency | Getty ImagesPresident Joe Biden's Justice Department has...
Delta CEO confident about Max 10 order
Delta airlines airplanes are seen parked at Hartsfield-Jackson International Airport in Atlanta.Camilo Freedman | Lightrocket | Getty ImagesDelta Air Lines expects to move forward with an order of Boeing 737 Max 10 aircraft as the plane manufacturer struggles with...
Japan JAXA SLIM lunar lander successfully touches down on moon
An artist's rendition of the SLIM lunar lander on the moon's surface.Japan Aerospace Exploration AgencyJapan staked a claim as a national space power on Friday, as its SLIM spacecraft landed on the moon.The country's SLIM lander launched in September and touched down...
U.S. recession, AI, China economy
A person walks on the day of the 54th annual meeting of the World Economic Forum, in Davos, Switzerland, January 19, 2024. REUTERS/Denis BalibouseDenis Balibouse | ReutersThe 2024 World Economic Forum in Davos, Switzerland will wrap Friday. Billionaires and world...
Salad and Go expands as it competes with Sweetgreen
The drive-thru entrance to a Salad and Go location.Source: Salad and GoWhen Sweetgreen went public two years ago, co-founder and CEO Jonathan Neman said the salad chain aspired to be the "McDonald's of its generation."But another salad rival could beat Sweetgreen to...
Ford cuts F-150 Lightning EV production, adds to Bronco, Ranger plant
Ford workers produce the electric F-150 Lightning pickup at the automaker's Ford Rouge Electric Vehicle Center on Dec. 13, 2022.Michael Wayland | CNBCDETROIT – Ford Motor is increasing production of its Bronco SUV and Ranger pickup, while cutting production of its...
Spirit Airlines raises fourth-quarter forecast, stock jumps
Spirit Airlines jetliners on the tarmac at Fort Lauderdale Hollywood International Airport. (Joe Cavaretta/South Florida Sun Sentinel/Tribune News Service via Getty Images)Joe Cavaretta | South Florida Sun-sentinel | Getty ImagesSpirit Airlines on Friday raised its...
Home goods retailer to cut 1,650 employees
Wayfair IPO on the floor of the New York Stock Exchange.Lucas Jackson | ReutersWayfair is cutting 13% of its global workforce as the digital home goods retailer looks to trim down its structure, cut out layers of management and reduce costs, it announced Friday. The...
Macy’s to cut jobs and close stores
Macy's on Thursday said it will cut about 3.5% of its workforce and close five of its namesake mall locations as the legacy department store moves to trim costs and turn around slowing sales.The move will affect approximately 2,350 positions across its corporate...
Wendy’s names Kirk Tanner new CEO
A "Now hiring" sign is displayed outside of a Wendy's in Miami, Florida, on Oct. 8, 2021.Joe Raedle | Getty ImagesWendy's has tapped PepsiCo veteran Kirk Tanner as its new chief executive, effective Feb. 5, as the burger chain tries to boost its share price and ease...
Birkenstock shares slump on earnings after IPO
A Birkenstock banner hangs outside the New York Stock Exchange in New York on Oct. 11, 2023, as Birkenstock launches an initial public offering.Angela Weiss | Afp | Getty ImagesBirkenstock shares slumped nearly 10% Thursday after the company warned about its 2024...
Nelson Peltz outlines plans for Disney proxy battle
Nelson PeltzDavid A. Grogan | CNBCDisney and its investors are going to start hearing a lot from activist investor Nelson Peltz.In the coming weeks, Peltz's Trian Fund Management plans to post on X and add content to its website RestoreTheMagic.com as a crescendo to...
NBA postpones game again following assistant coach’s death
Assistant coach Dejan Milojevic and Kevon Looney #5 of the Golden State Warriors talk before the game against the Los Angeles Lakers during the Western Conference Semi Finals during the 2023 NBA Playoffs on May 6, 2023 at Crypto.Com Arena in Los Angeles,...
Nelson Peltz states case for board seats
Activist investor Nelson Peltz is stating his case for joining Disney's board. Peltz's Trian Fund Management, in formally nominating Peltz and former Disney CFO Jay Rasulo to the media giant's board of directors Thursday, made a list of initiatives and performance...
Morgan Stanley CEO Ted Pick focused on hitting financial targets
Ted Pick, co-president of Morgan Stanley, speaks during a Bloomberg Television interview in New York, US, on Thursday, Oct. 26, 2023. Jeenah Moon | Bloomberg | Getty ImagesMorgan Stanley's new CEO Ted Pick on Thursday expressed confidence that his bank will hit...
Boehringer Ingelheim, Terns, Viking may join market
Still life of Wegovy an injectable prescription weight loss medicine that has helped people with obesity. It should be used with a weight loss plan and physical activity. Michael Siluk | UCG | Getty ImagesDrugmakers have been scrambling to join a two-horse race to...
Shein IPO: China launches security review
Clothes at the Shein headquarters in Singapore on June 19, 2023.Ore Huiying | Bloomberg | Getty ImagesChina's powerful internet regulator is conducting a security review of Shein as the fast-fashion giant gears up for its highly anticipated U.S. initial public...
Spirit could slash fares, restructure after failed JetBlue takeover
A JetBlue airliner lands past a Spirit Airlines jet on taxi way at Fort Lauderdale Hollywood International Airport on Monday, April 25, 2022.Joe Cavaretta | Sun Sentinel | Getty ImagesSpirit Airlines is on shaky footing after JetBlue Airways' proposed $3.8 billion...
Sales rise, raising retail hopes for 2024
A person picks out clothing in a Lacoste store as retailers compete to attract shoppers and try to maintain margins on Black Friday, one of the busiest shopping days of the year, at Woodbury Common Premium Outlets in Central Valley, New York, on Nov. 24, 2023.Vincent...
Spirit Airlines shares sink after judge blocks JetBlue merger
JetBlue Airways planes are seen near Spirit Airlines planes at the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, on May 16, 2022.Joe Raedle | Getty Images News | Getty ImagesShares of Spirit Airlines fell about 23% Wednesday, its second...
January homebuilder sentiment improves, following mortgage rate drop
A home is constructed at a housing development on June 21, 2023 in Lemont, Illinois.Scott Olson | Getty ImagesHomebuilder sentiment improved in January, jumping 7 points to 44 on the National Association of Home Builders monthly index. Anything below 50 is still...
Jamie Dimon warns on U.S. economy in 2024, 2025
JPMorgan Chase CEO Jamie Dimon said he remains cautious on the U.S. economy over the next two years because of a combination of financial and geopolitical risks."You have all these very powerful forces that are going to be affecting us in '24 and '25," Dimon told...
Classic car auction site Bring a Trailer sales hit record $1.4 billion
1967 Porsche 910Source: Bringatrailer.comBring a Trailer, the popular online auction site for collectible cars, posted record sales in 2023, even as classic-car prices hit the skids.Bring a Trailer's sales increased about 2% last year to over $1.4 billion from $1.35...
Boeing 737 Max 9 review gets independent advisor
Alaska Airlines N704AL is seen grounded in a hangar at Portland International Airport on January 9, 2024 in Portland, Oregon. NTSB investigators are continuing their inspection on the Alaska Airlines N704AL Boeing 737 MAX 9 aircraft following a midair fuselage blowout...
Pentagon awards satellite contracts to L3Harris, Lockheed, Sierra Space
Lockheed Martin's Tranche 0 Transport Layer satellites are seen in one of the company's processing facilities.Lockheed MartinThe Pentagon on Tuesday announced about $2.5 billion in contracts will go to L3Harris, Lockheed Martin, and Sierra Space to build satellites...
JetBlue-Spirit merger block in win for Biden’s Justice Department
LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York.Leslie Josephs | CNBCA federal judge blocked JetBlue Airways' purchase of budget rival Spirit Airlines after the Justice Department sued to stop the merger, alleging it would drive...
Flight disruptions linger amid winter storms, Max 9 grounding
Over 320 flights have been canceled because of a winter storm that brought snow and freezing temperatures to Denver International Airport in Denver, Colorado on January 15, 2024. RJ Sangosti | Denver Post | Getty ImagesAirlines canceled more than 1,800 U.S. flights...
2023 rebound and heavy M&A
A long exposure photo shows the company's fourth Alpha rocket mission launching from California's Vandenberg Space Force Base on Dec. 22, 2023.Sean Parker / Firefly AerospaceInvestment in the space sector bounced back last year, rebounding closer to the record high of...
‘Mean Girls’ opening weekend box office hits $28 million
Bebe Wood, Renee Rapp and Avantika Vandanapu star as The Plastics in the 2024 adaptation of "Mean Girls."ParamountYou go, Glen Coco.Paramount's "Mean Girls," a musical film adaptation of the Broadway show and beloved 2004 film of the same name, opened to an estimated...
Burger King owner Restaurant Brands buys Carrols, largest U.S. franchisee
Burger King fast food restaurant with menu and customers.Jeff Greenberg | Universal Images Group | Getty ImagesRestaurant Brands International is buying Carrols Restaurant Group, the largest Burger King franchisee in the U.S., for about $1 billion in cash.Restaurant...
Goldman Sachs (GS) earnings 4Q 2023
Goldman Sachs on Tuesday posted fourth-quarter results that topped analysts' expectations on better-than-expected asset and wealth management revenue.Here's what the company reported versus what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv,...
For 10-year GM CEO Mary Barra, 2024 is about change and crisis
Mary Barra, CEO of General Motors, at the New York Stock Exchange, Nov. 17, 2022.Source: NYSEDETROIT — Monday marks 10 years of Mary Barra's tenure as CEO of General Motors, ushering in a crucial year for the Detroit automaker and for her legacy.Over the past decade,...
Alaska, Japan airline incidents highlight importance of safety demonstrations
A display showing the 'fasten your seatbelt' sign and the 'no smoking' sign illuminated on board an aircraft.Jeff Overs | BBC News & Current Affairs | Getty ImagesYou trudge down the aisle to your seat. You double- and triple-check that you've arrived at the right...
Renewed interest in ADCs will continue in 2024
Medical personnel use a mammogram to examine a woman's breast for breast cancer.Hannibal Hanschke | dpa | Picture Alliance | Getty ImagesSAN FRANCISCO — An established but promising group of cancer drugs was a red-hot market in 2023, and more companies could look to...
How owner Spin Master is innovating iconic puzzle
Erno Rubik, inventor of the Rubik's Cube, holds one of the cubes at the International Toy Fair in Nuremberg, Germany, Jan. 29, 2020.Picture Alliance | Getty ImagesIt took a month of twisting and turning for the first person to solve a Rubik's Cube. That person was...
Flights canceled, delayed as weather, Max 9 grounding disrupt travel
An Embraer E175LR passengers aircraft of American Eagles airlines (C) taxxing before take-off to Pittsburg is seen at La Guardia Airport on January 9, 2024.Charly Triballeau | Afp | Getty ImagesAirlines canceled about 2,000 U.S. flights Friday as they grapple with...
Airline stocks tumble after Delta trims profit forecast
A Delta Airlines Boeing 737-700 is seen lining up before departure at Princess Juliana International Airport in St. Maarten.Fabrizio Gandolfo | Lightrocket | Getty ImagesDelta Air Lines shares slipped about 7% Friday after the company trimmed its 2024 earnings...
Space company Momentus MNTS running out of money
An artist's rendering of a Momentus Vigoride transfer vehicle deploying a satellite in orbit.MomentusSpace company Momentus warned shareholders in a securities filing on Friday that the company is running out of money and does not have a financial lifeline.Momentus,...
Citigroup cutting 10% of workforce in CEO Fraser’s overhaul
CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC.Alex Wong | Getty ImagesCitigroup said it was cutting 10% of its workforce...
FAA to audit Boeing production line after 737 Max 9 accident
The Federal Aviation Administration on Friday said it will audit Boeing's production line, a week after a door plug blew off an Alaska Airlines 737 Max 9.The agency said it is considering using "an independent third party" to oversee Boeing inspections and quality of...
Citigroup (C) earnings 4Q 2023
Citigroup on Friday posted a $1.8 billion fourth-quarter loss after booking several large charges tied to overseas risks, last year's regional banking crisis and CEO Jane Fraser's corporate overhaul.All told, the charges — so massive the bank preannounced their impact...
Wells Fargo (WFC) earnings 4Q 2023
Wells Fargo shares fell more than 1% before the bell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year."As we look forward, our business performance...
Bank of America (BAC) earnings 4Q 2023
Bank of America shares fell about 2% in premarketing trading on Friday after the firm reported declining fourth-quarter earnings amid hefty one-time charges.Here's what the company reported compared with Wall Street expectations:Earnings per share: 70 cents adjusted...
JPMorgan Chase (JPM) earnings Q4 2023
Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesJPMorgan Chase said...
Delta Air Lines (DAL) Q4 2023 earnings
Airbus A330neo widebody aircraft meant for Delta Air Lines being tested in Toulouse, France.Nurphoto | Nurphoto | Getty ImagesDelta Air Lines closed out the year by doubling its quarterly profit as travel demand, particularly for international trips, helped drive...
CVS to close ‘select’ pharmacies in Target stores in the coming months
CVS Health plans to close select pharmacies inside Target stores early this year, a company spokesperson said Thursday, as retail pharmacy chains in the U.S. struggle to boost profits. The closures will begin in February and finish by the end of April, the...
New York and California make retail theft top 2024 priority
The governors of New York and California announced sweeping plans to crack down on retail crime this week, as trade associations and police departments lobby for government action to curb theft.The plans include new legislation designed to increase the penalties for...
Wolverine World Wide sells Sperry to Authentic Brands Group
Sperry Top-Sider Bill fish Tan and Beige.Mayra Beltran | Houston Chronicle | Getty ImagesWolverine World Wide has sold Sperry to brand management firm Authentic Brands Group and Canadian retailer the Aldo Group, the company announced Thursday.The deal will generate...
SpaceX, T-Mobile send first texts via Starlink satellites
SpaceX founder Elon Musk and T-Mobile CEO Mike Sievert on stage during a T-Mobile and SpaceX joint event in Boca Chica Beach, Texas, on Aug. 25, 2022.Michael Gonzalez | Getty ImagesSpaceX successfully sent text messages via Starlink satellites using T-Mobile's...
Citigroup at risk of quarterly loss after disclosing charges
Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, May 1, 2023.Mike Blake | ReutersCitigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank's...
Global shipping rates set to surge as carriers avoid Red Sea
The global supply chain is feeling the fallout from Iran-backed Houthi rebels attacking vessels in the Red Sea. Freight prices are set to jump Monday, while longer transit times around Africa are disrupting and delaying deliveries of products.Vessels aren't able to...
Neiman Marcus CEO addresses Saks sale rumors
A woman holds the hand of her daughter while motioning to a man in front of Neiman Marcus at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania.Mark Makela | Getty ImagesORLANDO, Fla. – As rumors swirl over whether Saks Fifth Avenue will...
LeBron James signs Fanatics deal, leaves Upper Deck
LeBron James signs with Fanatics Collectibles in a trading card deal, leaving Upper Deck after 20 years.Courtesy: FanaticsLeBron James is moving his trading card sponsorship to Fanatics Collectibles after more than 20 years with rival Upper Deck.Fanatics will kick off...
What Wall Street wants to see from Hollywood in 2024
Picture Alliance | Picture Alliance | Getty ImagesIt's the third act of the streaming wars. That's the time a hero, seemingly beaten and broken, rises up and saves the day. But Wall Street is worried that hero may never come for Hollywood.Legacy media companies...
NASA delays crewed Artemis moon missions
The crew members of the Artemis 2 mission of the U.S. space agency NASA, left to right, Reid Wiseman Victor Glover, Christina Koch and Jeremy Hansen, stand at a press event in the ArianeGroup building.Hauke-Christian Dittrich | Picture Alliance | Getty ImagesNASA is...
Boeing to revise 737 Max 9 inspection instructions
An Alaska Airlines Boeing 737 Max 9 aircraft is grounded at Los Angeles International Airport in California on Jan. 8, 2024.Eric Thayer | Bloomberg | Getty ImagesAircraft manufacturer Boeing will revise inspection instructions for its 737 Max 9 planes after a panel...
Boeing CEO admits 737 Max 9 ‘mistake’ after midair panel blowout
In this photo released by the National Transportation Safety Board, investigator-in-charge John Lovell examines the fuselage plug area of Alaska Airlines Flight 1282 in Portland, Oregon, on Jan. 7, 2024.National Transportation Safety Board via APBoeing CEO Dave...
Honda teases new EVs with Space-Hub, Saloon concept cars
Honda Saloon concept electric vehicleCourtesy HondaHonda Motor revealed two concept cars Tuesday at the CES tech conference as a preview for a new lineup of electrified vehicles that will begin arriving in North America in 2026.The concept models are called the...
Honda teases new EVs with Space-Hud, Saloon concept cars
Honda Saloon concept electric vehicleCourtesy HondaHonda Motor revealed two concept cars Tuesday at the CES tech conference as a preview for a new lineup of electrified vehicles that will begin arriving in North America in 2026.The concept models are called the...
Home prices surge, Detroit gains beat Miami
A for sale sign hangs outside a home on the west side of Detroit, Michigan.Fabrizio Costantini | Bloomberg | Getty ImagesHome prices are rising faster and faster each month, fueled by a decline in mortgage rates.On a national level, home prices jumped 5.2% in November...
NFL offers buyouts to more than 200 employees
Nick Laham | Getty ImagesThe National Football League offered voluntary buyouts to at least 200 employees as it gears up for start of the playoffs this coming weekend, according to a memo obtained by CNBC.The NFL, which has about 1,100 employees, told staff that it is...
American Airlines frequent flyer changes for 2024
An American Airlines Airbus 321 sits at the gate at Ronald Reagan Washington National Airport (DCA) in Arlington, Virginia, on July 23, 2023.Daniel Slim | AFP | Getty ImagesFirst things first: American Airlines isn't changing the requirements to earn elite status at...
Astrobotic’s Peregrine moon mission for NASA falls short
Astrobotic's Peregrine lunar lander is seen during preparations for launch near NASA's Kennedy Space Center in Florida.United Launch AlliancePittsburgh-based Astrobotic's inaugural lunar mission suffered a malfunction shortly after launch, and the company is calling...
What travelers need to know
The fuselage plug area of Alaska Airlines Flight 1282 Boeing 737-9 MAX, which was forced to make an emergency landing with a gap in the fuselage, is seen during its investigation by the National Transportation Safety Board in Portland, Oregon, on Jan. 7, 2024.Ntsb |...
JetBlue CEO Robin Hayes to step down, COO Joanna Geraghty to take over
Robin Hayes, CEO of JetBlue Airways, speaks to guests following the airline's inaugural flight from John F. Kennedy Airport in New York to London Heathrow Airport in London on Aug. 12, 2021.Chris J. Ratcliffe | Bloomberg | Getty ImagesJetBlue CEO Robin Hayes will step...
Shein’s revenue is ‘a lot more’ than $30 billion annually: exec
Shoppers walks past advertisements on the opening day of fast-fashion e-commerce giant Shein, which hosted a brick-and-mortar pop up inside Forever 21 at the Ontario Mills Mall in Ontario on Oct. 19, 2023.Allen J. Schaben | Los Angeles Times | Getty ImagesORLANDO,...
United, Alaska Air find loose hardware on Boeing 737 Max 9s
A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport in California on March 13, 2019.Justin Sullivan | Getty ImagesUnited Airlines said Monday that it has found loose bolts on door plugs of several Boeing 737 Max 9 planes during...
Moderna Covid vaccine sales plunge in 2023, but meet company forecast
Nikos Pekiaridis | Lightrocket | Getty ImagesModerna on Monday said its Covid vaccine sales plunged by about two-thirds in 2023 to $6.7 billion, as fewer people rolled up their sleeves for an updated version of the jab.The revenue from the shots met Moderna's forecast...
Mortgage rate decline pulls buyers back into the housing market
A sharp drop in mortgage interest rates in December may have kickstarted this year's spring housing market early. Rates are about a full percentage point lower than they were in October, and consumers expect they will fall even more.Optimism about mortgage rates...
Used car prices high but expected to be stable in 2024
Used cars for sale at Lee Auto Mall on Wednesday, August 16, 2023. (Staff photo by Brianna Soukup/Portland Press Herald via Getty Images)Brianna Soukup | Portland Press Herald | Getty ImagesDETROIT – Used vehicle prices are expected to stabilize this year, after...
Tiger Woods ends Nike partnership after 27 years
A portrait of Tiger Woods of The United States during the pro-am as a preview for the Hero World Challenge at Albany Golf Course on November 29, 2023 in Nassau.David Cannon | Getty ImagesTiger Woods' 27-year partnership with Nike has come to an end. The superstar...
Boeing issues 737 Max 9 inspection instructions after Alaska incident
The fuselage plug area of Alaska Airlines Flight 1282 Boeing 737-9 MAX, which was forced to make an emergency landing with a gap in the fuselage, is seen during its investigation by the National Transportation Safety Board (NTSB) in Portland, Oregon, U.S. January 7,...
ULA Vulcan rocket launches as the newest challenger to SpaceX
The brand new rocket, United Launch Alliance's (ULA) Vulcan Centaur, lifts off from Space Launch Complex 41d at Cape Canaveral Space Force Station in Cape Canaveral, Florida, on January 8, 2024, for its maiden voyage, carrying Astrobotic's Peregrine Lunar...
Abercrombie and Lululemon report early holiday results
Combination showing store signage from Aberdrombie & Fitch and Lululemon stores.Getty ImagesAbercrombie and Fitch, Lululemon and American Eagle Outfitters all raised their fiscal fourth-quarter outlooks Monday, saying they drew customers looking for holiday gifts...
J&J to acquire Ambrx Biopharma, a cancer drug developer, for $2B
An entry sign to the Johnson & Johnson campus shows their logo in Irvine, California on August 28, 2019.Mark Ralston | AFP | Getty ImagesJohnson & Johnson on Monday said it will pay $2 billion in cash to acquire Ambrx Biopharma, a drugmaker specializing in one...
Boeing stock slides after FAA grounds 737 Max 9s
An Alaska Airlines Boeing 737 Max-9 aircraft grounded at Seattle-Tacoma International Airport (SEA) in Seattle, Washington, US, on Saturday, Jan. 6, 2024. David Ryder | Bloomberg | Getty ImagesShares of Boeing tumbled roughly 8% in premarket trading Monday, as...
Alaska Airlines grounds Boeing 737 Max 9 fleet after section blows out midair
An Alaska Airlines plane takes off from Los Angeles International Airport (LAX) on December 4, 2023 in Los Angeles, California. Mario Tama | Getty Images News | Getty ImagesAlaska Airlines will temporarily ground its fleet of 65 Boeing 737 Max 9 planes after a section...
FAA grounds more than 170 Boeing 737 Max 9s after section of Alaska Airlines plane blows out
Passenger oxygen masks hang from the roof next to a missing window and a portion of a side wall of an Alaska Airlines Flight 1282, which had been bound for Ontario, California and suffered depressurization soon after departing, in Portland, Oregon, U.S., on Jan. 5,...
Boeing 737 Max failure on Alaska Air flight invites renewed scrutiny
Boeing's new 737 MAX-9 is pictured under construction at their production facility in Renton, Washington, Feb. 13, 2017.Jason Redmond | ReutersBoeing's plan to get back on solid footing after a series of quality flaws in its best-selling jet suffered a near-disaster...
The 2023 U.S. economy, in charts
A pedestrian holds an umbrella as they walk along a street in the rain in Times Square, New York, on Sept. 26, 2023.Ed Jones | AFP | Getty ImagesThe state of the U.S. economy may be a chief concern among Americans, but 2023 wound up as a pretty good year for the...
Top 10 best-selling cars in the U.S. in 2023
2023 Ford Super Duty F-350 LimitedFordDETROIT – America maintained its love affair with pickup trucks in 2023 — but a top-selling vehicle from Toyota Motor nearly ruined their tailgate party.Sales of the Toyota RAV4 compact crossover came within 10,000 units of...
Pat McAfee attacks ESPN executive amid Rodgers, Kimmel fight
PHOENIX, ARIZONA - FEBRUARY 09: Former NFL player and host Pat McAfee speaks on radio row ahead of Super Bowl LVII at the Phoenix Convention Center on February 9, 2023 in Phoenix, Arizona.Mike Lawrie | Getty ImagesESPN's Pat McAfee problem is getting more...
Eli Lilly weight loss drug site may not upend industry
Sopa Images | Lightrocket | Getty ImagesEli Lilly is shaking up the pharmaceutical industry with a new website offering telehealth prescriptions and direct home delivery of certain drugs, including its red-hot weight loss treatment Zepbound, to expand patient...
Radio shows surprising resilience in changing media world
Airline passengers between flights patronize the iHeartRadio facility at Denver International Airport in Denver on Jan. 19, 2014.Robert Alexander | Archive Photos | Getty ImagesIt's a familiar refrain: "Legacy media is dead" — unless you're talking about radio.Despite...
Florida wins first FDA approval to import drugs from Canada
Pharmacist Thomas Jensen, looks over a prescription drug at the Rock Canyon pharmacy in Provo, Utah, May 9, 2019.George Frey | ReutersThe Food and Drug Administration on Friday approved Florida's plan to import cheaper prescription drugs from Canada, a...
Blank Street Coffee bets on subscription program
Blank Street Coffee's shops have taken over New York City as they lure in customers with cheap lattes and cold brew.Now the upstart chain aims to attract even more consumers who want to slash their coffee budgets through a subscription program.The Blank Street...
NCAA and ESPN ink 8-year, $920 million media rights deal
An ESPN game day logo is displayed at the Capital One Orange Bowl game between the Georgia Bulldogs and the Florida State Seminoles on Saturday, December 30, 2023 at Hard Rock Stadium, Miami Gardens, Fla.Peter Joneleit | Icon Sportswire | Getty ImagesThe NCAA and ESPN...
Online holiday spending rises to new record, Adobe Analytics says
A UPS worker sorts packages in New York on Dec. 18, 2017.Adam Jeffery | CNBCOnline spending rose 4.9% year over year, setting a record for e-commerce during the holiday season, as shoppers pounced on discounts and leaned on buy now, pay later to cover more of their...
Ford reports 7.1% increase in U.S. vehicle sales
2024 Ford F-150 PowerBoost Platinum hybridFordDETROIT – Ford Motor's U.S. sales increased about 7% last year, marking the automaker's best sales since 2019 but coming in lower than the overall industry's growth.Ford on Thursday reported sales of nearly 2 million...
Eli Lilly launches website to help patients get weight loss drugs
Drugmaker Eli Lilly announced on Thursday a new website that will allow patients to get a weight loss drug prescription through a telehealth provider — a move, the company says, that will improve access to the extremely popular and effective drugs, including...
Peloton partners with TikTok on classes, content
Peloton has launched a partnership with TikTok.Courtesy of: PelotonPeloton launched a partnership with TikTok on Thursday as part of its strategy to change its public perception and attract a broader array of customers as sales and profits fall. The partnership will...
Walgreens (WBA) earnings Q1 2024
A man walks near a Walgreens pharmacy on March 09, 2023 in New York City. Leonardo Munoz | Corbis News | Getty ImagesWalgreens reported fiscal first-quarter adjusted earnings and revenue that topped expectations on Thursday, but cut its quarterly dividend nearly in...
Ford F-150 Lightning EV price adjustments
The Ford F-150 Lightning Electric Truck.John Tlumacki | Boston Globe | Getty ImagesDETROIT — Ford Motor is increasing the price of some 2024 F-150 Lightning models, while lowering the costs of its most expensive models.The Detroit automaker confirmed Wednesday that...
Red Sea crisis fuels shipping costs, delays, inflation
The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on Thursday, Dec. 21, 2023.Stringer | Bloomberg | Getty ImagesAttacks on ships in the Red Sea continue to push ocean freight rates higher, triggering warnings of inflation and...
GM’s 2023 U.S. vehicle sales were its best since 2019
DETROIT – General Motors' U.S. vehicle sales increased 14.1% last year to represent the automaker's best year since 2019, prior to the impacts of the coronavirus pandemic and yearslong supply chain problems.The Detroit automaker on Wednesday reported sales of roughly...
Maersk Red Sea pause shows Operation Prosperity Guardian limits
A cargo ship crosses the Suez Canal, one of the most critical human-made waterways, in Ismailia, Egypt on December 29, 2023. (Photo by Fareed Kotb/Anadolu via Getty Images)Anadolu | Getty ImagesThe threat to global trade in the Red Sea remains high, even with efforts...
What’s ahead for franchises, theaters
Timothee Chalamet stars in Warner Bros.' "Dune."Warner Bros.Mean girls, Spider-Women and sandworms will headline the 2024 box office — and they'll have to do some heavy lifting.The March 1 release of "Dune: Part Two," the delayed and much-anticipated follow-up to...
Moderna stock jumps after Oppenheimer upgrade on pipeline potential
Artur Widak | Nurphoto | Getty ImagesShares of Moderna jumped more than 15% on Tuesday after Oppenheimer upgraded the stock to "outperform," saying the Covid vaccine maker could market five products by 2026.The upgrade follows a dismal 2023 for Moderna, whose only...
Rivian Q4 EV deliveries fall, stock slips
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company's plant in Normal, Ill.Michael Wayland | CNBCShares of Rivian Automotive declined by almost 10% during early trading Tuesday after the company reported increased vehicle production during...
PGA Tour, LIV Golf working to extend merger deadline into 2024
A PGA TOUR logo is seen after play was suspended due to severe storms during the third round of THE PLAYERS Championship held at THE PLAYERS Stadium course at TPC Sawgrass on May 14, 2011 in Ponte Vedra Beach, Florida.Streeter Lecka | Getty ImagesPGA Tour and LIV Golf...
SpaceX rockets set new launch record in 2023
A SpaceX Falcon Heavy rocket with the Psyche spacecraft launches from NASA's Kennedy Space Center in Cape Canaveral, Florida, on Oct. 13, 2023.Chandan Khanna | AFP | Getty ImagesElon Musk's SpaceX smashed its previous annual record for orbital rocket launches, pulling...
Disney’s Star Wars is 2023’s top film franchise without a new movie
American actors Mark Hamill, Carrie Fisher and Harrison Ford on the set of "Star Wars: A New Hope," written, directed and produced by Georges Lucas.Sunset Boulevard | Corbis Historical | Getty ImagesThe Force remains strong with the Star Wars franchise.Despite not...
Companies losing pricing power after years of unbridled spending
Pedestrians carrying Nike and Allbirds shopping bags in the SoHo neighborhood of New York on Oct. 24, 2021.Nina Westervelt | Bloomberg | Getty ImagesAfter years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are...
Cheddar News sold by Altice USA to media company Archetype
In this photo illustration, Cheddar News logo is seen on a smartphone and on a pc screen.Sopa Images | Lightrocket | Getty ImagesCheddar News-owner Altice USA announced Thursday it has sold the financial news streaming service to the media company Archetype, which is...
Boeing urges inspections of 737 Max planes for ‘possible loose bolt’
The Boeing 737 MAX aircraft is displayed at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022.Peter Cziborra | ReutersBoeing is urging airlines to inspect 737 Max planes to look for a "possible loose bolt" in the rudder control system, the...
November pending home sales unchanged, despite lower mortgage rates
Pending home sales in November were unchanged compared with October and 5.2% lower than November of last year, according to the National Association of Realtors.The reading, which is based on signed contracts during the month, is a forward-looking indicator of closed...
Medicare drug price negotiations what’s ahead in 2024
Activists protest the price of prescription drug costs in front of the U.S. Department of Health and Human Services (HHS) building on October 06, 2022 in Washington, DC.Anna Moneymaker | Getty ImagesU.S. patients and drugmakers will get a first glimpse of how much...
Barbie, Oppenheimer, Taylor Swift: 2023’s most important films
Movie posters for "Barbie" and "Oppenheimer" are pictured outside the Cinemark Somerdale 16 and XD in Somerdale, New Jersey, 2023.Hannah Beier | The Washington Post | Getty ImagesCall 2023 an explosive comeback at the box office.There were blonde bombshells, in...
‘The Color Purple’ scores second-best Christmas debut box office ever
Taraji P. Henson stars in Warner Bros. "The Color Purple."Warner Bros. DiscoveryIt was a very Merry Christmas for Warner Bros. Discovery.With $18.15 million in box office receipts, the studio's newest film "The Color Purple" had the highest Christmas Day opening since...
October home prices post biggest gain of 2023
A "sale pending" sign is posted in front of a home for sale on November 30, 2023 in San Anselmo, California. According to a report by the National Association of Realtors, pending home sales fell 1.5 percent in October to their lowest level in 20 years. (Photo by...
‘Aquaman and the Lost Kingdom’ domestic box office opening
Jason Momoa stars as Arthur Curry, aka Aquaman, in Warner Bros.' "Aquaman and the Lost Kingdom."Warner Bros. Discovery"Aquaman and the Lost Kingdom" dog-paddled to a $28.1 million domestic opening, the fourth-lowest in the history of the DC Extended Universe.The film...
2024 is shaping up to be the year of the streaming bundle
The atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022.Presley Ann | Getty Images Entertainment | Getty ImagesThis year proved to be yet another tough one for pay TV, as more people cut the cable cord.But it...
Migration could boost Universal dominance over Disney
Universal and Illuminations latest animated film centers on a family of ducks who decides to leave the safety of a New England pond for an adventurous trip to Jamaica. However, their well-laid plans quickly go awry when they get lost and wind up in New York...
Bristol Myers Squibb to buy Karuna Therapeutics
The New York Stock Exchange welcomes Bristol Myers Squibb on Nov. 20th, 2020.NYSEBristol Myers Squibb on Friday announced it agreed to buy biopharmaceutical company Karuna Therapeutics for $14 billion in cash, or $330 per share.Karuna's stock popped more than 47% on...
Nike, Foot Locker shares plunge on weak sales outlook
A shopper leaves a Nike store along the Magnificent Mile shopping district in Chicago with a purchase on Dec. 21, 2022.Scott Olson | Getty ImagesNike shares plunged Friday after the athletic apparel maker cut its revenue outlook for the fiscal year, with sneaker...
Health sector themes to watch in 2024
An employee works on the production line of pharmaceutical company Zentiva in Prague, Czech Republic, May 6, 2021.David W. Cerny | ReutersThe health-care sector has wiped out much of its losses for the year during the December market rally. Beaten-down biotech and...
Nike (NKE) earnings Q2 2024
A customer enters a Nike store along the Magnificent Mile shopping district in Chicago on Dec. 21, 2022.Scott Olson | Getty ImagesNike on Thursday unveiled plans to cut costs by about $2 billion over the next three years as it lowered its sales outlook.The stock fell...
Boeing hands over first 787 Dreamliner to China since 2019
The Boeing 787 Dreamliner sits on the tarmac at Boeing Field in Seattle, Washington.Robert Sorbo | ReutersBoeing on Thursday handed over a 787 Dreamliner directly to a Chinese airline for the first time since November 2019, a milestone that could open up the...
James Gorman talks Disney succession, proxy fight
Morgan Stanley CEO James Gorman said Thursday that he's gearing up to join a succession planning committee at Disney, which will advise the board on choosing CEO Bob Iger's successor. Gorman is set to step down as Morgan Stanley CEO Jan. 1. He will join Disney's board...
New car sales expected to rise next year
New Kia cars are displayed on the sales lot at San Leandro Kia on May 30, 2023 in San Leandro, California.Justin Sullivan | Getty ImagesDETROIT – Sales of new vehicles in the U.S. are expected to increase slightly next year, as the automotive industry continues to...
Guilty plea in $100 million New Jersey deli stock fraud case
Your Hometown Deli in Paulsboro, N.J.Google EarthA North Carolina ex-convict pleaded guilty to securities fraud in connection with conspiring to manipulate the stock of a company that once had a market capitalization of as high as $100 million despite owning just one,...
Chick-fil-A stronger than ever amid more competition
A Chick-fil-A meal is displayed at a Chick-fil-A restaurant in Novato, California, on June 1, 2023.Justin Sullivan | Getty ImagesEvery restaurant chain from McDonald's to Popeyes wants to take down Chick-fil-A, but its hold over customers is tighter than ever.Since...
Santa gets a behind-the-scenes boost from AI this holiday season
Manonallard | E+ | Getty ImagesFor many Americans, it's the first holiday season when most of the family may know the term "artificial intelligence" if it comes up during Christmas dinner.Just don't expect AI to do the heavy lifting for Santa quite yet.The rise of...
Warner Bros. Discovery, Paramount in merger talks
Warner Bros. Discovery and rival Paramount Global are in early merger talks, sources familiar with the matter told CNBC.Warner Bros. Discovery CEO David Zaslav and Paramount CEO Bob Bakish met Tuesday to discuss the contours of a possible deal, said the sources, who...
Citigroup to close global distressed-debt unit
A trader works underneath a monitor displaying Citigroup Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on June 3, 2016.Michael Nagle | Bloomberg | Getty ImagesCitigroup is shuttering another Wall Street business as CEO Jane Fraser...
Warner Bros., Paramount merger talks may draw out NBCUniversal
Let's say you have a crush on two people and you find out one of them may like you back. Do you just start dating that person, or do you find out what the other person thinks, too?That's where Warner Bros. Discovery finds itself today. The company has held preliminary...
Shein grilled on China relationship, data privacy ahead of IPO
A sign hangs outside the Shein warehouse in Whitestown, Indiana, on Nov. 29, 2023.Scott Olson | Getty ImagesThe chair of a powerful House committee is drilling down on Shein's data privacy practices and its relationship with the Chinese Communist Party as the...
Aquaman and the Lost Kingdom marks end of era for DC
Jason Momoa stars as Arthur Curry, aka Aquaman, in Warner Bros.' "Aquaman and the Lost Kingdom."Warner Bros. DiscoveryStick a trident in it."Aquaman and the Lost Kingdom" opens Friday, marking the final installment in Warner Bros. Discovery's DC Extended Universe film...
Over a half-billion dollars in rail freight stuck at Texas border
NBC NEWS -- Pictured: Border Patrol Agents arrest 8 suspected illegals in Maverick County, near Eagle Pass, TX, as they try to ride a freight train into the United States from Mexico on February 27, 2007 -- Photo by: Al Henkel/NBC NewsWireNbc Newswire | Nbcuniversal |...
13 media executives make 2024 predictions
NYT Columnist Andrew Ross Sorkin and C.E.O. of The Walt Disney Company Bob Iger speak during the New York Times annual DealBook summit on November 29, 2023 in New York City. Michael M. Santiago | Getty ImagesIt's the most wonderful time of the year! It's the third...
General Mills, FedEx warn about weak demand
Limited Edition holiday breakfast cereal, Christmas Crunch in holiday shapes, Target store, Queens, New York. (Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images)Lindsey Nicholson | Getty ImagesTwo big companies weighed in on persistent demand...
U.S., EU reach deal to suspend taxes
Jack Daniel's Tennessee WhiskeyGetty ImagesU.S. whiskey distillers are breathing a sigh of relief as they will avoid a looming 50% tax on shipments to Europe.The European Union said Tuesday it would extend the suspension of tariffs on U.S. whiskey until March 31,...
Pharma had a year full of firsts
Soumyabrata Roy | Nurphoto | Getty ImagesDrugmakers are closing out a year when they achieved several historic firsts that will shape the pharmaceutical industry in 2024 and beyond. The weight loss drug market transformed into the pharmaceutical industry's newest gold...
Mortgage demand slips despite drop in interest rates
House for sale with "For Sale" real estate sign in yard in spring or summer season. No people.Fstop123 | E+ | Getty ImagesMortgage demand fell last week compared with the previous week, despite a continued drop in rates, according to the Mortgage Bankers Association's...
GM has cut its Buick dealership network in half through buyouts
DETROIT – General Motors has cut the size of its Buick dealership network roughly in half in the U.S. through an ongoing voluntary buyout program, an executive told CNBC.The 1,000-store reduction aims to increase the amount of sales per location, or throughput, and...
Southwest Airlines, pilots union reach labor deal
Southwest Airlines ranked as the second-best domestic airline, according to Bounce's 2023 Airline Index.Aaronp/bauer-griffin | Gc Images | Getty ImagesSouthwest Airlines and its pilots' union have reached a new preliminary labor agreement, ending months of tense...
FedEx (FDX) earnings 2Q 2023
A FedEx plane lands at Shanghai Pudong International Airport in Shanghai on April 27, 2023.Vcg | Visual China Group | Getty ImagesFedEx shares tumbled more than 9% in after-hours trading Tuesday after the package delivery giant lowered its revenue forecast as weaker...
Shippers divert $35 billion in cargo from Red Sea
So far, shippers have diverted about more than $30 billion worth of cargo away from the Red Sea as they face the threat of attacks from Houthi militants in Yemen.Carriers are re-routing vessels as a direct result of 15 strikes in the Middle Eastern body of water since...
Theft and crime higher nearby
Target's shuttered small-format store on Folsom Street in San Francisco's SoMa neighborhood, November 2023.Gabrielle FonrougeOn Sept. 26, Target set off a national firestorm when it said it would close nine stores in four states because theft and organized retail...
Media, telecom companies face rough 2024
The GrinchSource: Universal Studios It's human nature for a new year to bring optimism and hope.For executives, investors and employees in the entertainment and telecommunications industries, 2024 is set to disappoint.Maybe that's too grinchy. Some things will get...
How Houthi attacks in Red Sea threaten global supply chain
A container ship sails through the new section of the Suez Canal in the Egyptian port city of Ismailia, 135 kms northeast of the capital Cairo on October 10, 2019.Khaled Desouki | AFP | Getty ImagesAttacks by Iran-backed Houthi militants on ships in the Red Sea have...
Care Bears have easier time getting to U.S. from China
Business is largely back to normal along the global supply chain, including where it all begins for the Care Bear: the factory floor in China.Anward Shen, owner of An'Best Toys in China, which produces the plush toys for U.S. retailer Basic Fun!, said the cost of...
Vans owner VF Corp shares tumble after cyberattack
American manufacturer of skateboarding shoes Vans store seen in Hong Kong.Budrul Chukrut | LightRocket | Getty ImagesShares of The North Face and Vans owner VF Corp tumbled Monday after the company reported that a hack had affected its ability to fulfill some orders...
Walmart looks to lab-grown diamonds this Christmas
Walmart started carrying lab-grown diamonds last year in select stores. Now, it has expanded that to nearly 90 items that range from $78 to $498 available at the majority of its stores.Mike Calia | CNBCSECAUCUS, N.J. — Here, shoppers can browse engagement rings,...
Southwest fined $140 million for last year’s holiday meltdown
The U.S. Department of Transportation on Monday said it fined Southwest Airlines $140 million for violating consumer protection laws during last year's holiday meltdown that stranded millions of customers following severe winter weather.The DOT said the fine is 30...
Nikola founder Trevor Milton to be sentenced for fraud
Trevor Milton, founder of Nikola Corp., exits court in New York, US, on Monday, Sept. 12, 2022.Stephen Yang | Bloomberg | Getty ImagesNikola Founder Trevor Milton is set to be sentenced Monday in a New York courtroom on three charges related to defrauding investors of...
2024 expectations for Wegovy, Ozempic, Zepbound
George Frey | Bloomberg | Getty ImagesWeight loss drugs exploded into the public eye this year, and 2024 will bring more change to the evolving market. The drugs skyrocketed in popularity in 2023 as they helped patients shed significant weight, despite hefty price...
Shipping giants Hapag-Lloyd and Maersk pause Red Sea travel
The Hamburg flag flies in front of Hapag-Lloyd containers on the Hapag-Lloyd containership "Berlin Express" at Burchardkai in the Port of Hamburg.Marcus Brandt | Picture Alliance | Getty ImagesTwo shipping giants, Hapag-Lloyd and Maersk, are pausing their travel...
Citigroup employees told they can work remotely until new year
Jane Fraser, CEO of Citigroup, testifies during a Senate Banking Committee hearing at the Hart Senate Office Building on December 06, 2023 in Washington, DC. Win Mcnamee | Getty ImagesCitigroup told most of its employees that they can work remotely the final two weeks...
Cruise autonomous vehicle venture in danger of becoming latest GM flop
DETROIT — General Motors' plans to diversify its business through trendy industries such as ridesharing and other "mobility" ventures or startups have largely fallen flat since the automaker started investing in such growth areas in 2016.Cruise, its majority-owned...
Pro pickleball players form collective amid pay cuts, merger
Major League Pickleball finals at Pickle & Chill on October 16, 2022 in Columbus, Ohio.Emilee Chinn | Getty ImagesDozens of professional pickleball players have formed a collective to voice their concerns about recent pay cuts and the future of the sport.In a...
Delta beefs up Austin flights in battle for fast-growing airport
Angel Di Bilio | iStock Editorial | Getty ImagesDelta Air Lines is adding more flights next year at Austin-Bergstrom International Airport, in a bid to gain market share in one of the country's fastest-growing airports.The carrier plans to add 11 nonstop flights from...
GM to lay off 1,300 Michigan workers as vehicles end production
UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan.Steve Fecht for ChevroletDETROIT — General Motors plans to lay off about 1,300 workers in...
Darden Restaurants (DRI) Q2 2024 earnings
An Olive Garden restaurant in Fremont, California, US, on Thursday, Sept. 14, 2023. Darden Restaurants Inc. is scheduled to release earnings figures on September 21.Bloomberg | Getty ImagesDarden Restaurants on Friday reported quarterly earnings that beat expectations...
Timothée Chalamet’s ‘Wonka’ could open with $35 million
Timothee Chalamet stars as a young Willy Wonka in Warner Bros.' "Wonka."Warner Bros. DiscoveryA younger, sweeter Willy Wonka enters theaters this weekend. Oh, and he does a lot more singing.Expectations are high that "Wonka" will deliver families to theaters, as the...
Christmas meltdown ‘will never happen again’
Southwest Airlines Executive Vice President Bob Jordan speaks as he is interviewed by CNBC outside the New York Stock Exchange (NYSE) in New York City, U.S., December 9, 2021.Brendan McDermid | ReutersWith the peak Christmas travel season just days away, Southwest...
Trian nominates Peltz and former Disney exec to media giant’s board
Nelson Peltz, founder and chief executive officer of Trian Fund Management, during the Future Investment Initiative (FII) Institute Priority Summit in Miami, Florida, on Thursday, March 30, 2023.Marco Bello | Bloomberg | Getty ImagesTrian Fund Management on Thursday...
Cadillac reveals three-row Vistiq to round out electric SUV lineup
2026 Cadillac Vistiq EVCadillacDETROIT – Cadillac plans to round out its upcoming lineup of all-electric SUVs with a three-row vehicle called the Vistiq, a replacement for its current gas-powered XT6.The General Motors luxury brand on Thursday released images of the...
Amazon to connect Kuiper internet satellites with laser links
A visualization of laser links connecting Kuiper satellites in orbit around the Earth.AmazonAmazon will include a key speed-boosting technology in its coming Project Kuiper internet satellites, the company announced Thursday.Amazon says it tested the laser link tech...
MOJO youth sports streaming platform bought by TeamSnap
Former Disney TV executive Ben Sherwood coaching.Credit: Karen SherwoodWhile Ben Sherwood was working as a top Disney television executive, he was juggling another major commitment — one he couldn't quite get the hang of.Sherwood traveled back and forth between the...
Moderna, Merck cancer vaccine reduces risk of skin cancer return
An exterior view of Moderna's clinical manufacturing facility. David L. Ryan | Boston Globe | Getty ImagesModerna and Merck's experimental cancer vaccine, when used in combination with Merck's blockbuster therapy Keytruda, reduced the risk of death or relapse in...
Manhattan rents fall for first time in over two years
A view of clouds over Manhattan skyline in New York, United States on August 08, 2023. (Photo by Fatih Aktas/Anadolu Agency via Getty Images)Anadolu Agency | Anadolu Agency | Getty ImagesManhattan rents fell for the first time in over two years, as the supply of empty...
Vertex non-opioid painkiller posts positive mid-stage trial results
A sign hangs in front of the world headquarters of Vertex Pharmaceuticals in Boston, Massachusetts, U.S., October 23, 2019. Brian Snyder | ReutersShares of Vertex jumped Wednesday after the company's painkiller, which is being tested as an alternative to opioids,...
SpaceX value climbs to $180 billion, higher than Boeing, Verizon
SpaceX's next-generation Starship spacecraft atop its powerful Super Heavy rocket is launched from the company's Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, U.S. November 18, 2023. Joe Skipper | ReutersThe valuation of Elon Musk's SpaceX...
Etsy laying off 11% of staff, citing competitive environment
The Etsy website displayed on a laptop.Gabby Jones | Bloomberg | Getty ImagesEtsy is laying off 11% of its workforce at the height of the holiday season as the e-commerce giant looks to restructure its business and streamline costs against a "very challenging" macro...
Pfizer 2024 revenue, profit forecast disappoints
Shares of Pfizer fell Wednesday after the drugmaker forecast 2024 revenue and profit below Wall Street's expectations, as it sees weak demand for its once-blockbuster Covid products. Pfizer also raised the target of its sweeping cost-cutting plan by $500 million,...
Washington Capitals, Wizards to move to Virginia in 2028
A general view of the Washington Wizards logo on a court mop before the game between the Washington Wizards and the Chicago Bulls at Capital One Arena on October 21, 2022 in Washington, DC.Scott Taetsch | Getty ImagesThe NHL's Washington Capitals and NBA's Washington...
Mortgage refinance demand jumps after rates drop
An aerial view of existing homes near new homes under construction (UPPER R) in the Chatsworth neighborhood on September 08, 2023 in Los Angeles, California. Mario Tama | Getty ImagesHomeowners looking to refinance are finding savings after mortgage rates dropped...
Blue Origin aims to launch New Shepard rocket Dec. 18
A Blue Origin New Shepard rocket lifts off with a crew of six from Launch Site One in West Texas on Dec. 11, 2021.Joe Skipper | ReutersThe moment of the anomaly during the New Shepard cargo mission NS-23, in which the booster's engine failed.Blue OriginThe New Shepard...
Netflix releases viewing stats for nearly all titles for first time
Rege-Jean Page and Phoebe Dynevor star in Netflix's "Bridgerton."NetflixCreators rejoice: Netflix is finally revealing viewership statistics about nearly all of its shows and movies.Netflix released its first "What We Watched" report Tuesday, which ranks almost all of...
Ford cuts 2024 production plans in half
Ford workers produce the electric F-150 Lightning pickup at the automaker's Ford Rouge Electric Vehicle Center on Dec. 13, 2022.Michael Wayland | CNBCDETROIT — Ford Motor will cut planned production of its all-electric F-150 Lightning pickup roughly in half next year,...
Hasbro lays off 1,100 workers amid weak holiday toy sales
Hasbro is laying off about 1,100 employees as the toy maker struggles with soft sales that have carried into the holiday shopping season, according to a company memo obtained by CNBC.Hasbro had about 6,300 employees as of earlier this year, according to a company fact...
Wizard of Oz Dorothy dress lawsuit tossed by judge
A blue and white checked gingham dress, worn by Judy Garland in the "Wizard of Oz," hangs on display, Monday, April 25, 2022, at Bonhams in New York.Katie Vasquez | APThis "Wizard of Oz" dress could be off to see the auction house very soon.A federal judge in New York...
UAW files unfair labor practice charges against Hyundai, Honda, VW
United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023.ScreenshotDETROIT – The United Auto Workers has filed unfair labor practice charges with the National Labor Relations...
Patients on Eli Lilly drug regain weight after stopping it
Eli Lilly's drug tirzepatide was approved for weight loss by the FDA.Courtesy of Eli LillyPatients who took Eli Lilly's weight loss drug Zepbound regained around half the weight they shed after stopping the newly approved treatment for a year, according to data...
Altice USA in talks to sell Cheddar News to private equity firm
Igor Golovniov | Lightrocket | Getty ImagesAltice USA is in talks to sell the financial news streaming service Cheddar News to L.A.-based private equity firm Regent LP, according to people familiar with the matter.No deal is assured and discussions around structure...
Cigna shares jump on abandoned Humana buyout, buyback plans
Sopa Images | Lightrocket | Getty ImagesShares of Cigna jumped Monday following reports that the health-care giant has scrapped its plans to buy rival Humana due to disagreements on price, putting an early end to what would have been one of the largest deals of the...
Wells Fargo mortgage lenders probed over racial discrimination
People pass by a Wells Fargo bank on May 17, 2023 in New York City.Spencer Platt | Getty ImagesWells Fargo was snared in an industrywide probe into mortgage bankers' use of loan discounts last year, CNBC has learned.The discounts, known as pricing exceptions, are used...
Big Pharma takes on counterfeit drugs
In Las Vegas, Lazaro Hernandez was a flamboyant, jet-setting poker player shown in televised tournaments with stacks of colorful chips. But the casually dressed gambler spotted on security cameras with wads of cash at the casino cage was hiding a secret life.And...
Fenway moves forward in final talks to invest in PGA Tour’s Saudi deal
Tiger Woods wipes his driver grip on the 18th tee box during the first round of the PGA TOUR Champions PNC Championship at The Ritz-Carlton Golf Club on December 17, 2022 in Orlando, Florida.Ben Jared | PGA Tour | Getty ImagesA coalition of U.S. sports investors led...
Macy’s receives $5.8 billion buyout offer, sources say
People wait in line outside Macy's before opening on "Black Friday" in New York City on November 24, 2023. The retail sector's efforts to entice holiday gift purchases builds to a crescendo this weekend with the annual "Black Friday" shopping day followed by the newer...
McDonald’s investor day highlights and top risks in 2024
The Ronald McDonald balloon floats down Central Park West during the Macy's Thanksgiving Day Parade on November 23, 2023, in New York City.Gary Hershorn | Corbis News | Getty ImagesMcDonald's executives painted a rosy portrait of the fast-food giant's strength and...
Automakers turn to hybrids in the middle of the EV transition
2023 Prius Prime on display, April 6, 2023.Scott Mlyn | CNBCDETROIT — As sales of all-electric vehicles grow more slowly than expected, major automakers are increasingly meeting their customers in the middle.More and more companies are reconsidering the viability of...
Starbucks tells union it wants to resume contract talks in January
Members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle on November 16, 2023 in Washington, DC. Kevin Dietsch | Getty ImagesStarbucks said it wants to resume contract talks with the union representing its baristas,...
Paramount PARA shares jump after reports of takeover interest
Paramount logo is seen on the building in Los Angeles, United States on November 13, 2023.Nurphoto| Getty ImagesParamount Global shares surged Friday following reports from Deadline and Puck News that Skydance and Redbird Capital were exploring potentially taking over...
First CRISPR gene-editing treatment approved in U.S.
Blood sample tube with blood for Sickle Cell Screen -Test. Sickle cell blood test, abnormal hemoglobin test.Md Babul Hosen | Istock | Getty ImagesThe U.S. Food and Drug Administration on Friday approved the country's first gene-editing treatment, Casgevy, for use in...
Dollar General tries to drive a turnaround after safety violations
Dollar General has gotten hit by steep fines for safety violations, slammed on late-night TV and even overruled by its own shareholders.On Thursday, CEO Todd Vasos laid out on an earnings call with investors the discounter's plans to try to turn around both the...
Lululemon (LULU) earnings Q3 2023
Black Friday shoppers at a Lululemon store at the Garden State Plaza in New Jersey.Mike Calia | CNBCLululemon on Thursday said it saw strong third-quarter demand and a positive start to the holiday shopping season, but the retailer's shares fell in extended trading...
Ferrari's $400,000 Purosangue is a dream to drive. Just don't call it an SUV
The Purosangue, its name meaning "pure blood" or "thoroughbred" in Italian, comes with a 7.5 liter, V-12 engine.
National Retail Federation walks back key organized retail crime claim
Visitors enter the venue at The NRF 2020 Vision: Retail's Big Show, held in New York, the United States, Jan. 12, 2020.Wang Ying | Xinhua News Agency | Getty ImagesThe leading retail lobbying group has walked back a key claim about shrink, or inventory losses from...
2023 was the least affordable homebuying year: Redfin
A Redfin sign in front of a home for sale in Atlanta on Nov. 10, 2022.Elijah Nouvelage | Bloomberg | Getty ImagesThis year was the least affordable year for homebuying in at least in the past 11 years, according to a Thursday report from real estate company Redfin.In...
Biden administration asserts power to seize drug patents
President Joe Biden speaks about protecting Social Security, Medicare, and lowering prescription drug costs, during a visit to OB Johnson Park and Community Center, in Hallandale Beach, Florida, on Nov. 1, 2022.Kevin Lamarque | ReutersThe Biden administration on...
PGA Tour star Jon Rahm gearing up to join Saudi-backed LIV
Jon Rahm of Spain celebrates making a putt for birdie on the 18th green during the final round of the 2021 U.S. Open at Torrey Pines Golf Course (South Course) on June 20, 2021 in San Diego, California.Sean M. Haffey | Getty Images Sport | Getty ImagesGolf superstar...
U.S. poised to approve breakthrough treatment
At age 19, Joe Tsogbe underwent his first hip replacement. In his 20s, he averaged about nine hospitalizations a year. By his 30s, that rose to more than a dozen. All the result of sickle cell disease, an inherited blood disorder where a genetic mutation causes...
Wonka, Color Purple, Aquaman box office crucial for Hollywood
Timothee Chalamet stars as a young Willy Wonka in Warner Bros.' "Wonka."Warner Bros. DiscoveryLOS ANGELES — There are just a few weeks left at the 2023 box office, and they'll be dominated by movies from Warner Bros.The studio is capping off the year with three big...
AbbVie to acquire Cerevel Therapeutics for $8.7 billion
A sign stands outside a Abbvie facility in Cambridge, Massachusetts, May 20, 2021.Brian Snyder | ReutersAbbVie on Wednesday said it will acquire neuroscience drugmaker Cerevel Therapeutics for roughly $8.7 billion. Under the terms of the deal, AbbVie will pay $45 per...
McDonald’s to open first CosMc’s spinoff restaurant this week
McDonald's CosMc's Restaurant.Courtesy: McDonald'sMcDonald's will open the first location of its new spinoff brand CosMc's this week in Bolingbrook, Illinois.The fast-food giant plans to open 10 CosMc's locations, including nine restaurants in Texas, by the end of...
Wall Street CEOs say Basel 3 endgame rules will hurt Americans
(L-R) Brian Moynihan, Chairman and CEO of Bank of America; Jamie Dimon, Chairman and CEO of JPMorgan Chase; and Jane Fraser, CEO of Citigroup; testify during a Senate Banking Committee hearing at the Hart Senate Office Building on December 06, 2023 in Washington, DC....
Walmart hiring, wage pressures have eased, CEO says
A worker stocks the shelves at a Walmart store on January 24, 2023 in Miami, Florida. Walmart announced that it is raising its minimum wage for store employees in early March, store employees will make between $14 and $19 an hour. Joe Raedle | Getty Images News |...
Disney+ adding Hulu integration as streaming bundles accelerate
The Disney+ website on a laptop computer in the Brooklyn borough of New York, US, on Monday, July 18, 2022.Gabby Jones | Bloomberg | Getty ImagesDisney is beginning to roll out a Hulu integration on its Disney+ streaming platform in a bid to bundle subscribers. The...
Walmart CEO Doug McMillon talks about deflation
Holiday shoppers are turning to Walmart for groceries and gifts, but CEO Doug McMillon said it's hard to predict how sales will look in the months after the peak shopping season.In an interview with Sara Eisen that aired Wednesday on CNBC's "Squawk on the Street," the...
Taylor Swift, Lionel Messi, women’s sports boost StubHub ticket sales
Addison O'Grady #44 of the Iowa Hawkeyes rebounds against LaDazhia Williams #0 of the LSU Lady Tigers during the 2023 NCAA Women's Basketball Tournament National Championship at American Airlines Center on April 2, 2023 in Dallas, Texas.C. Morgan Engel | Ncaa Photos |...
Aims to open nearly 9,000 restaurants
A McDonald's store sign in Austin, Texas, Oct. 30, 2023.Brandon Bell |Getty ImagesMcDonald's wants to open more than 8,800 locations and add 100 million members to its loyalty program by 2027.The targets are part of the fast-food giant's long-term plans to grow sales...
Mortgage refinance demand jumps as rates fall
Homes in Hercules, California, US.Bloomberg | Bloomberg | Getty ImagesAfter surging over 8% in October, mortgage rates are falling back toward 7% again, and that is jumpstarting the refinance market.Last week, the average contract interest rate for 30-year fixed-rate...
Charter shares plunge after CFO says company may lose broadband subs
Sopa Images | Lightrocket | Getty ImagesCharter shares plunged more than 8% on Tuesday after its CFO Jessica Fischer said the company could lose broadband subscribers in the fourth quarter.Charter competitor Comcast's stock also slipped more than 3% in midday...
Eli Lilly weight loss drug Zepbound available at U.S. pharmacies
The FDA approves Eli Lilly's Zepbound, a weight loss drug similar to Ozempic and Wegovy.Courtesy: Eli LillyEli Lilly on Tuesday said its recently approved weight loss treatment Zepbound is now available at pharmacies across the U.S., serving as an alternative to rival...
SpaceX plans NASA refueling demonstration for next Starship launch
SpaceX's next-generation Starship spacecraft atop its powerful Super Heavy rocket is prepared for launch from the company's Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, U.S. November 15, 2023. Joe Skipper | ReutersSpaceX could attempt a...
CVS to change how it prices prescription drugs
A sign outside a CVS Health store in Miami, Aug. 1, 2023.Joe Raedle | Getty ImagesCVS Health on Tuesday said it will revamp how it prices prescription drugs and scrap a complex model that typically sets how much pharmacies get reimbursed and what patients pay for...
Stellantis revives small EV for U.S., starting at $34,095
DETROIT – Stellantis is resurrecting the all-electric Fiat 500e for the U.S. market, as the automaker begins to release EVs domestically to meet tightening fuel economy regulations.The small city car is expected to first go on sale as a special-edition "(500e)RED"...
Activist investor urges Disney to add Nelson Peltz to board
Disney World's Magic Kingdom in Orlando, Florida.Joe Raedle | Getty Images News | Getty ImagesActivist investor Ancora on Tuesday urged Disney to put Nelson Peltz on its board, days after Peltz and his firm, Trian, launched a proxy fight with the entertainment...
Wells Fargo CEO warns of severance costs as layoffs loom
Charlie Scharf, CEO, Wells Fargo, speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023. speaks during the Milken Institute Global Conference in Beverly Hills, California on May 2, 2023. Patrick T. Fallon | Afp | Getty...
McDonald’s investor day: What to expect
French fries arranged at a McDonald's Corp. fast food restaurant in Louisville, Kentucky, U.S., on Friday, Oct. 22, 2021.Luke Sharrett | Bloomberg | Getty ImagesMcDonald's is expected to share new details about its accelerated expansion plans, a new spinoff brand...
Shein IPO: Lawmakers scrutinize forced labor
Lawmakers are ramping up their scrutiny of Shein after it confidentially filed to go public last week.One congressman who sits on a key committee is even threatening to pursue legislation to bar the retailer from trading if the U.S. Securities and Exchange Commission...
Alaska-Hawaiian airline merger faces Justice Department scrutiny
An Alaska Airlines aircraft flies past the U.S. Capitol before landing at Reagan National Airport in Arlington, Virginia, U.S., January 24, 2022.Joshua Roberts | ReutersAlaska Air Group's executives spent months working on its plan to buy rival Hawaiian Airlines. The...
Free ChatGPT may incorrectly answer drug questions, study says
Harun Ozalp | Anadolu | Getty ImagesThe free version of ChatGPT may provide inaccurate or incomplete responses — or no answer at all — to questions related to medications, which could potentially endanger patients who use OpenAI's viral chatbot, a new study released...
Alaska Airlines to acquire Hawaiian Airlines in $1.9 billion deal
Alaska Air Group has agreed to buy rival Hawaiian Airlines in a $1.9 billion deal, setting up another potential regulatory battle in the second proposed airline merger in less than two years.Alaska would pay $18 a share for Hawaiian and would take on $900 million of...
What strong Black Friday retail sales mean for holiday spending
Shoppers walk around Twelve Oaks Mall on November 24, 2023 in Novi, Michigan. Emily Elconin | Getty ImagesRetailers are cheering after shoppers spent big on gifts and decor in the days after they gobbled up turkey and stuffing.But the strong showing does not...
Pfizer weight loss pill joins list of obesity drug flops
Sopa Images | Lightrocket | Getty ImagesPfizer's twice-daily version of its experimental weight loss pill has now joined a long list of other scrapped drugs that aimed to treat obesity but came with unintended consequences. The drugmaker on Friday said it will stop...
Southwest, pilots union near a preliminary labor deal
A Southwest Airlines Boeing 737-700 aircraft lands at Ronald Reagan Washington National Airport in Arlington, Virginia, May 7, 2023.Nicolas Economou | Nurphoto | Getty ImagesSouthwest Airlines and its pilots union are closing in on a new contract that would raise pay...
Amazon buys SpaceX rocket launches for Kuiper satellite internet project
A Falcon 9 rocket launches a Starlink mission on January 31, 2023 from Vandenberg Space Force Base in California.SpaceXAmazon bought three rocket launches from SpaceX for its Project Kuiper internet satellites, the tech giant announced on Friday.The move is a surprise...
Apple, Paramount streaming bundle report boosts media stocks
Jakub Porzycki | Nurphoto | Getty ImagesMedia stocks jumped on Friday following a Wall Street Journal report that Apple and Paramount Global are in early-stage talks to offer a bundle of the two company's streaming platforms. The companies have talked about bundling...
Panera Bread IPO filing
A Panera Bread mango yuzu citrus charged lemonade is displayed at a Panera Bread restaurant in Novato, California, on Nov. 1, 2023.Justin Sullivan | Getty ImagesPanera Bread has confidentially filed to go public again, the Financial Times reported.The restaurant...
Pfizer to discontinue twice-daily version of weight loss pill
CFOTO | Future Publishing | Getty ImagesPfizer on Friday said it would stop developing the twice-daily version of its experimental weight loss pill after obese patients taking the drug lost weight but had trouble tolerating the drug in a mid-stage clinical study. The...
Inside Tennessee’s most expensive home, near Nashville
This story is part of CNBC's new quarterly Cities of Success series, which explores cities that have transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and employees.Twin Rivers Farm could break records as Tennessee's...
Sound of Freedom producer Angel Studios releases The Shift
Neal McDonough stars as a mysterious man known as "the benefactor" in Angel Studio's "The Shift."Angel Studios"Sound of Freedom" broke the Hollywood mold this summer. Now, the studio behind the surprising smash is looking to follow-up that success with a science...
Retailers, Covid-era nostalgia revive the vinyl records industry
A stack of freshly pressed gold vinyl records at United Record Pressing.CNBCThis story is part of CNBC's new quarterly Cities of Success series, which explores cities that have been transformed into business hubs with an entrepreneurial spirit that has attracted...
Novo Nordisk sues pharmacies over impure Wegovy, Ozempic dupes
A 0.25 mg injection pen of Novo Nordisk's weight loss drug Wegovy is shown in this photo in Oslo, Norway, on Aug. 31, 2023.Victoria Klesty | ReutersNovo Nordisk on Thursday said it sued two compounding pharmacies in Florida for allegedly selling impure and...
Ulta Beauty (ULTA) Q3 2023 earnings
Shares of Ulta Beauty rose in after-hours trading Thursday, as the company said its third-quarter sales rose while shoppers showed once again they're willing to spend on fragrances, skin care and more even when the budget is tight.The specialty beauty retailer raised...
Mars accused of using child labor in cocoa supply chain
Detail of a recently opened cocoa pod in Asikasu on December 19, 2020. The beans will be leave to ferment for 5 days before put them under the sun to dry them. (Photo by CRISTINA ALDEHUELA / AFP) (Photo by CRISTINA ALDEHUELA/AFP via Getty Images)Cristina Aldehuela |...
More than 500 companies had perfect scores on top LGBTQ+ index
Attendees hold large Pride flag at the 2023 LA Pride Parade on June 11, 2023 in Hollywood, California. (Photo by Rodin Eckenroth/Getty Images)Rodin Eckenroth | Getty ImagesIn a year stained by boycotts, protests and heightened consumer choice, hundreds of companies...
Billionaires to transfer $5 trillion to their children
In recent months, the world's new billionaires made more of their fortunes from inheritance than from entrepreneurship, according to the UBS Billionaire Ambitions Report.It marked the first time in the nine-year history of the report that newly minted billionaires...
Biotech stocks jump on AbbVie deal to buy cancer drugmaker ImmunoGen
Test tubes are seen in front of a displayed AbbVie logo in this illustration taken on May 21, 2021.Dado Ruvic | ReutersBiotech stocks rose Thursday as AbbVie announced plans to buy cancer drug developer ImmunoGen for $10.1 billion. Shares of ImmunoGen jumped more than...
Disney CEO Bob Iger says movies have been too focused on messaging
NYT Columnist Andrew Ross Sorkin and C.E.O. of The Walt Disney Company Bob Iger speak during the New York Times annual DealBook summit on November 29, 2023 in New York City. Michael M. Santiago | Getty ImagesDisney Chief Executive Officer Bob Iger said Wednesday he...
Nashville real estate boom sends prices up, builders scrambling
Detached houses on a large housing development on the western side of Nashville, Tennessee.Georgeclerk | Istock | Getty ImagesNashville natives say they barely recognize the city's skyline anymore, and they probably won't anytime soon, as cranes still litter the...
Nelson Peltz seeks seats on Disney board
Nelson Peltz, founder and chief executive officer of Trian Fund Management, during the Future Investment Initiative (FII) Institute Priority Summit in Miami, Florida, US, on Thursday, March 30, 2023.Marco Bello | Bloomberg | Getty ImagesActivist investor Nelson Peltz...
Covid vaccine rates are falling in U.S.
A sign advertises Covid vaccine shots at a Walgreens Pharmacy in Somerville, Massachusetts, on Aug. 14, 2023.Brian Snyder | ReutersThree years into the Covid-19 pandemic, few Americans are rolling up their sleeves to get a Covid vaccine. Only 15.7% of U.S. adults had...
Pending home sales drop to record low
A home with a sign indicating that it is under contract to be sold is seen in a neighborhood of downtown Washington.Jim Bourg | ReutersPending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September. They hit the lowest...
Ford reinstates 2023 guidance, says UAW deal to cost $8.8 billion
NEW YORK – Ford Motor on Thursday reinstated 2023 guidance after pulling its forecast last month due to the impacts of labor strikes and negotiations with the United Auto Workers union.The guidance calls for $10 billion to $10.5 billion in adjusted earnings before...
Grand Theft Auto is coming to Netflix Games
Grand Theft Auto V packaging and the Netflix logo are displayed on a phone screen in this photo taken in Krakow, Poland, on Oct. 18, 2023.Nurphoto | Getty ImagesNetflix announced Wednesday that it will make three "Grand Theft Auto" titles available to play for...
Miriam Adelson makes play for Texas with Mavericks deal
Dr. Miriam Adelson speaks onstage during the 24th annual Keep Memory Alive 'Power of Love Gala' benefit for the Cleveland Clinic Lou Ruvo Center for Brain Health at MGM Grand Garden Arena on March 07, 2020 in Las Vegas, Nevada. (Photo by Denise Truscello/Getty Images...
Iger explains Marvels flop, too many Disney sequels
NYT Columnist Andrew Ross Sorkin and C.E.O. of The Walt Disney Company Bob Iger speak during the New York Times annual DealBook summit on November 29, 2023 in New York City. Michael M. Santiago | Getty ImagesOne year after returning to the helm of Disney, Bob Iger...
Spirit Airlines offers buyouts to salaried employees
A Spirit Airlines plane takes off at Los Angeles International Airport in Los Angeles, June 1, 2023.Mario Tama | Getty ImagesSpirit Airlines is offering voluntary exit packages to salaried employees, the budget carrier's latest cost-cutting measure as it expects...
PGA Tour commissioner talking to several possible investors
PGA Tour Commissioner Jay Monahan speaks during a press conference prior to the TOUR Championship at East Lake Golf Club on August 24, 2022 in Atlanta, Georgia.Cliff Hawkins | Getty ImagesPGA Tour Commissioner Jay Monahan said Wednesday that the organization is...
UAW launches union campaigns at Tesla, 12 other automakers in the U.S.
United Auto Workers President Shawn Fain, middle, visits striking UAW Local 551 workers outside a Ford assembly center on South Burley Avenue on Saturday, Oct. 7, 2023, in Chicago. John J. Kim | Tribune News Service | Getty ImagesThe United Auto Workers union is...
How Nashville hot chicken became so big
Prince's Hot ChickenCourtesy: Prince's Hot ChickenNashville hot chicken had its humble beginnings nearly a century ago. Now, the specialty chicken style is a national phenomenon.The Tennessee city has numerous hot chicken restaurants competing for the top spot, as...
Major League Pickleball asks players to take 40% pay cut
Thomas Wilson of the LA Mad Drops hits a volley shot during the MLP Mesa Premier League Championships at Legacy Sports USA on January 29, 2023 in Mesa, Arizona.Bruce Yeung | Getty ImagesPickleball's rapid growth may be coming back down to reality.Major League...
Luxury hotels move into Nashville as demand for rooms surges
Nashville is seeing an unprecedented surge in luxury hotels, with renowned brands such as the Four Seasons Hotel, the W Hotel and the Grand Hyatt opening their doors in Music City.More than 90 new hotels have been constructed in Nashville since 2013, contributing more...
Cigna shares slide after report it could merge with Humana
The Cigna Group headquarters in Bloomfield, Connecticut, US, on Friday, Oct. 27, 2023. BlooJoe Buglewicz | Bloomberg | Getty ImagesShares of Cigna slid on Wednesday after a report that the company is in talks with Humana about a merger between the two health care...
Jamie Dimon says JPMorgan Chase would exit China if ordered to
Chairman and C.E.O. of JPMorgan Chase & Co. Jaime Dimon speaks during the New York Times annual DealBook summit on November 29, 2023 in New York City. Michael M. Santiago | Getty ImagesJPMorgan Chase CEO Jamie Dimon said Wednesday that his bank would exit China if...
GM labor deals with UAW, Unifor to increase costs by $9.3 billion
United Auto Workers members strike the General Motors Lansing Delta Assembly Plant on September 29, 2023 in Lansing, Michigan. Bill Pugliano | Getty ImagesGeneral Motors expects new labor contracts with the United Auto Workers and Canadian union Unifor to increase its...
Mark Cuban selling Dallas Mavericks majority stake to Adelson
Billionaire investor Mark Cuban is selling a majority stake of the Dallas Mavericks to Miriam Adelson and her family, a source familiar with the deal told CNBC.Cuban still owns a stake in the team and will run basketball operations.Adelson is selling $2 billion worth...
Foot Locker (FL) earnings Q3 2023
A Foot Locker store near the Times Square neighborhood of New York, US, on Monday, Nov. 13, 2023. Bing Guan | Bloomberg | Getty ImagesShares of Foot Locker rose on Wednesday after the company posted surprise earnings and sales beats and said it saw strong results over...
GM initiates buyback, increases dividend and reinstates 2023 guidance
Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022.Patrick T. Fallon | AFP | Getty ImagesGeneral Motors is seeking to regain Wall Street's confidence leading...
Family offices move money out of stocks and into private markets
Family offices now have more of their money invested in private markets than the public stock market — even as the market rallies — according to a new survey.A survey of North American family offices conducted by Campden Wealth and RBC found that family offices had...
Disney CEO Bob Iger says he wants to build again during town hall
Bob Iger, Disney, at Apple programSource: AppleDisney Chief Executive Officer Bob Iger told employees Tuesday during an internal town hall that he is looking forward to "building again" after spending 2023 mending parts of the business that "needed attention.""I feel...
Thanksgiving broadcasts post record ratings
Macy's Thanksgiving Day Parade, 2023: Birds Of A Feather Stream Together - Peacock FloatNBC | NBCUniversal | Getty ImagesThanksgiving TV viewership gave media companies a lot to be grateful for this year.A range of events over the holiday broke ratings records.NBC...
Black Friday weekend shopping turnout soars to a record
Shoppers browse for dresses during the Black Friday sale at the Vivo Activewear women's clothing store in downtown Nairobi, Kenya November 24, 2023. Thomas Mukoya | ReutersShoppers kicked off the holiday season with a bang, as a record 200.4 million people hit stores...
Fox News founder Rupert Murdoch deposed in Smartmatic election lawsuit
Rupert Murdoch, chairman of News Corp and co-chairman of 21st Century Fox, arrives at the Sun Valley Resort of the annual Allen & Company Sun Valley Conference, July 10, 2018 in Sun Valley, Idaho.Drew Angerer | Getty ImagesRupert Murdoch is being deposed Tuesday...
Home prices rose in September even as mortgage rates surged
A townhouse for sale in the Upper East Side neighborhood of NYC.Adam Jeffery | CNBCHigher mortgage rates appear to be doing very little to cool home prices.Nationally, prices were 3.9% higher in September compared with the same month a year earlier, up from a 2.5%...
Rivian R1T EV leasing launches in select markets
A Rivian electric pickup truck sits in a parking lot at a Rivian service center in South San Francisco, California, on May 9, 2022.Justin Sullivan | Getty ImagesRivian on Monday started leasing select models of its all-electric R1T pickup truck, a move to expand sales...
Disney ‘Wish’ disappoints at the Thanksgiving box office
Ariana DeBose stars as Asha in Disney's new animated film "Wish."DisneyDisney needs to do more than wish on some stars to get out of its animation rut.Its latest animated feature "Wish," billed as a celebration of 100 years of storytelling, fumbled at the box office...
Shein files for U.S. IPO, looks to expand global reach
A Shein pop-up store inside a Forever 21 store in Times Square in New York on Nov. 10, 2023.Yuki Iwamura | Bloomberg | Getty ImagesShein has confidentially filed to go public in the U.S. as the Chinese-founded fast-fashion juggernaut looks to expand its global reach...
Zions, Comerica, First Horizon: Regional bank takeover risk
A customer enters Comerica Inc. Bank headquarters in Dallas, Texas.Cooper Neill | Bloomberg | Getty ImagesA trio of regional banks face increasing pressure on returns and profitability that makes them potential targets for acquisition by a larger rival, according to...
Mounjaro superior to Ozempic for weight loss, study says
A pharmacist displays a box of Mounjaro, a tirzepatide injection drug used for treating type 2 diabetes and made by Lilly at Rock Canyon Pharmacy in Provo, Utah, May 29, 2023.George Frey | ReutersThe blockbuster diabetes drug Mounjaro is more effective for weight loss...
Thanksgiving Day online sales, discounts jump
Anastasiia Krivenok | Moment | Getty ImagesOnline spending on Thanksgiving Day jumped 5.5% compared to a year ago, according to Adobe Analytics, a reflection of holiday shoppers who are buying more of their gifts online and responding to discounts.E-commerce sales...
Small music venues fight to keep prices affordable amid inflation
Melis82 | Istock | Getty ImagesIt has never been easy for small or independent music venues to turn a profit. Now, with inflated operating costs, some owners are struggling to keep ticket prices affordable for audiences and take chances on lesser-known artists.The...
American Dream mall evacuated on Black Friday over bomb threat
American Dream megamall and entertainment complex in East Rutherford, N.J. After more than 17 years in the making, it finally opened October 25, 2019. Then came the coronoavirus pandemic.Timothy A. Clary | AFP | Getty ImagesNew Jersey's American Dream Mall – the...
NFL Black Friday game Jets vs Dolphins on Amazon Prime, not on TV
Jacob Kupferman | Getty ImagesThe Miami Dolphins and the New York Jets face off in the National Football League's first ever Black Friday game this week — but it's not going to be the usual broadcast or cable offering. The game will stream exclusively on Amazon's...
Spending and ethics in focus
TikTok has officially launched its e-commerce service TikTok Shop in the US. Costfoto | Nurphoto | Getty ImagesConsumers are increasingly turning to social media for their shopping this holiday season, and TikTok's latest venture into e-commerce has emerged at the...
Retailers use deals and events to drive sales
Target hosted a free "Winter Wonderland" event in New York City to show off the holiday season's hottest toys. It's an example of the extra effort that retailers are putting in to motivate shoppers.Melissa Repko | CNBCNEW YORK CITY — On a recent weekend in downtown...
Airlines shave minutes off flight times with faster boarding, new tech
Passengers make their way through the terminal as they travel ahead of the Thanksgiving holiday at Washington Dulles International Airport in Dulles, Virginia, on Nov. 22, 2023.Kevin Lamarque | ReutersIn air travel, minutes matter.A few moments could be the difference...
Napoleon is latest Apple bid for Oscars
Vanessa Kirby and Joaquin Phoenix star in AppleTV+'s "Napoleon," directed by Ridley Scott.Apple Original FilmsLOS ANGELES – Apple Original Films is a new player on the Academy Award scene, but it's already left an indelible — and historic — mark.The studio, which has...
Goldman Sachs paid Patrick Cantlay more than $1 million a year
Patrick Cantlay of the United States plays his shot from the 18th tee during the final round of the Workday Charity Open on July 12, 2020 at Muirfield Village Golf Club in Dublin, Ohio.Sam Greenwood | Getty ImagesGoldman Sachs paid professional golfer Patrick Cantlay...
Retailers cast doubt on Black Friday, holiday 2023 spending
A person walks past a sales advertisement at Saks Off 5th Department Store ahead of the Thanksgiving holiday sales in Washington, DC, November 21, 2023.Saul Loeb | AFP | Getty ImagesThere's a dark cloud hanging over Black Friday.A slew of retailers have issued tepid,...
Popeyes chicken wings available nationwide
Popeyes WingsCourtesy: PopeyesPopeyes is expanding its menu beyond chicken sandwiches – and it's a permanent change this time.The fast food chain announced Wednesday it's adding five chicken wing flavors to its menu nationwide, with three debuting at Popeyes for the...
Urban Outfitters’ clothing rental service Nuuly reaches profitability
Nuuly warehouseNatalie RiceUrban Outfitters' clothing rental service Nuuly has eked out its first profit thanks to a steady stream of new subscribers and a whopping 86% jump in revenue, hitting the benchmark before competitor Rent the Runway, which has yet to turn a...
Nordstrom (JWN) earnings Q3 2023
Shoppers exit Nordstrom at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania.Mark Makela | Getty ImagesNordstrom on Tuesday said sales slid by nearly 7% year over year, echoing other retailers' comments about weaker demand and...
Disney needs an animation hit: Is it Wish?
Ariana DeBose stars as Asha in Disney's new animated film "Wish."DisneyDisney is wishing on a shooting star this week, hoping that its celebratory 100th anniversary film "Wish" will mark a turning point for its beleaguered animation division and jumpstart the...
NFL committed to X as Elon Musk gets heat over hate speech
The National Football League is sticking with X, formerly known as Twitter, as Elon Musk's site faces an advertiser revolt over hate speech and antisemitism on the platform."I think X is in a very difficult business because of the content moderation that they have to...
Tiger Woods TGL golf league delayed until 2025 after dome collapse
Tiger Woods of the United States and Rory McIlroy of Northern Ireland walk to the 11th fairway during a practice round prior to the 2023 Masters Tournament at Augusta National Golf Club on April 03, 2023 in Augusta, Georgia. Christian Petersen | Getty Images Sport |...
Ford scales back EV battery plant in Michigan
Ford CEO Jim Farley announces at a press conference that Ford Motor Company will be partnering with the worlds largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on...
Home sales fell to a 13-year low in October as prices rose
This photo taken on Aug. 22, 2023 shows an advertisement in front of a real estate for sales in Millbrae, California, the United States. The sales of previously owned homes in the United States dropped 2.2 percent in July from June to a seasonally adjusted, annualized...
American Eagle (AEO) earnings Q3 2023
American clothing and accessories retailer American Eagle store seen in Hong Kong. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)Budrul Chukrut | Lightrocket | Getty ImagesShares of American Eagle plummeted 15% in premarket trading Tuesday after...
Abercrombie & Fitch (ANF) earnings Q3 2023
Abercrombie & Fitch.Courtesy: Abercrombie & FitchAbercrombie & Fitch on Tuesday blew past estimates as it posted a 20% jump in sales thanks to a strong back-to-school shopping season and growth at both its namesake brand and Hollister. The longtime mall...
Dick’s Sporting Goods (DKS) earnings Q3 2023
A Dick’s Sporting Goods store stands in Staten Island on March 09, 2022 in New York City.Spencer Platt | Getty ImagesShrink who? Sales and profit at Dick's Sporting Goods bounced back in the fiscal third quarter, leading the retailer to raise its full-year guidance...
Best Buy (BBY) earnings Q3 2024
People walk past a Best Buy store in Manhattan, New York City, November 22, 2021.Andrew Kelly | ReutersBest Buy cut its full-year sales outlook Tuesday, as the company weathers a period of cooler demand and prepares for price-conscious holiday shoppers.The consumer...
Lowe’s (LOW) earnings Q3 2023
An exterior view of a Lowe's home improvement store. Lowe's Companies, Inc. reports quarterly earnings on Tuesday, May 23, 2023. Paul Weaver | Lightrocket | Getty ImagesLowe's on Tuesday lowered its full-year sales outlook, after customers spent less on do-it-yourself...
SpaceX Starship rocket goes for second launch attempt
SpaceX launched its second Starship rocket flight on Saturday, with Elon Musk's company pushing development of the mammoth vehicle past new milestones.Lifting off around 8 a.m. ET from the company's facility in Texas, Starship flew for more than seven minutes,...
McDonald’s increases minority stake in China business
Customers wait for their takeout food outside a McDonald's restaurant during the May Day holiday on May 1, 2022 in Beijing, China.VCG | Getty ImagesMcDonald's is buying Carlyle's stake in its China business, increasing its minority share from 20% to 48% ownership.The...
Free at home Covid tests available starting Monday
COVID-19 home test kits are pictured in a store window during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 19, 2022.Carlo Allegri | ReutersThe Biden administration on Monday said it is offering another...
CEOs have a new favorite word: ‘Choiceful’
Doug McMillon, president and CEO of Walmart Inc. Corporation, participates in a Business Roundtable discussion on the"Future of Work in an Era of Automation and Artificial Intelligence", during a CEO Innovation Summit, on December 6, 2018 in Washington, DC.Mark Wilson...
Thanksgiving air travel set for records in test for airlines
Travelers wait in line to check in for their flights at a Delta Airlines ticket counter at Orlando International Airport during the busy Christmas holiday season on December 28, 2022 in Orlando, Florida.Paul Hennessy | Anadolu Agency | Getty ImagesAirlines expect...
Disney box office flops put pressure on Iger, Bergman
Bob Iger, Disney, at Apple programSource: AppleIt's rare for Disney Chief Executive Bob Iger to acknowledge his company has had creative missteps. So when he does, it's probably wise to pay attention."As I've looked at our overall output, meaning the studio, it's...
T-Mobile sued after employee stole nude images from phone
T-Mobile is once again being accused of failing to protect sensitive consumer data after an employee at one of its retail stores stole nude images from a customer's phone when she came to trade in an old device, according to a lawsuit filed Friday. The incident is...
JAT Capital sends scathing letter to new Bed Bath & Beyond board
Investment firm JAT Capital sent a scathing letter to the board of the new Bed Bath & Beyond on Friday saying it has refused to answer questions from shareholders and is engaging in what the investment firm called unprecedented "poor behavior." The firm, which has...
UAW-Ford workers ratify new contract
Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023.Matthew Hatcher | AFP | Getty ImagesDETROIT — Union members at Ford Motor approved a tentative agreement Friday, concluding contentious contract...
Early Black Friday discounts higher than prior years
Barbie dolls (R) are displayed for sale ahead of Black Friday at a Walmart Supercenter on November 14, 2023 in Burbank, California. Mario Tama | Getty Images News | Getty ImagesEarly Black Friday discounts were far higher this October compared to prior years,...
Tiger Woods new golf league faces dome collapse
Tiger Woods of the United States catches a ball on the practice area during the third round of the 2023 Masters Tournament at Augusta National Golf Club on April 08, 2023 in Augusta, Georgia. Andrew Redington | Getty ImagesExtensive damage at a Florida dome venue is...
Cadillac Optiq: New entry-level EV crossover
2025 Cadillac OptiqCadillacDETROIT – Cadillac's new entry-level electric vehicle will be a compact-sized crossover called Optiq, the company said Friday.The General Motors brand said the vehicle, which will be its fourth EV, will slot below the current entry-level...
UAW-Stellantis workers ratify new contract
United Auto Workers members rally outside Stellantis' Ram 1500 plant in Sterling Heights, Michigan, after the union called a strike at the plant on Oct. 23, 2023.Michael Wayland / CNBCDETROIT – United Auto Workers members at Chrysler owner Stellantis have ratified a...
CDC expedites release of Sanofi, AstraZeneca drug amid shortage
A RSV-infected child receives treatment, as RS-Virus infections spread among children at Missio children's clinic Moenchberg, in Wuerzburg, Germany, December 2, 2022. Heiko Becker | ReutersThe Centers for Disease Control and Prevention expedited the release of more...
YouTube debuts AI tool Dream Track that mimics vocals of artists
People walk past a billboard advertisement for YouTube on September 27, 2019 in Berlin, Germany.Sean Gallup | Getty ImagesYouTube is launching a new tool powered by artificial intelligence that will allow users to record audio using the voices of some of today's most...
Gap (GPS) earnings Q3 2023
A Gap retail store sign on September 20, 2022 in Los Angeles, California. Allison Dinner | Getty ImagesGap posted a better-than-expected third quarter on Thursday, but the apparel retailer still appears cautious ahead of the holiday season as it works to reverse...
Cassie sues Sean Combs for alleged rape, sex trafficking
Cassie Ventura and Sean 'Diddy' Combs attend the Heavenly Bodies: Fashion & The Catholic Imagination Costume Institute Gala at The Metropolitan Museum of Art on May 7, 2018 in New York City.John Shearer | Getty Images | The Hollywood Reporter | Getty ImagesHip-hop...
Sierra Space lays off hundreds in push toward Dream Chaser launch
A rendering on a Dream Chaser spaceplane in orbit.Sierra SpaceSierra Space, one of the sector's most valuable private companies, laid off several hundred employees and contractors this week, CNBC has learned.A Sierra Space spokesperson confirmed the company let go of...
Deflation could be coming this holiday, Walmart CEO says
Barbie dolls (R) are displayed for sale ahead of Black Friday at a Walmart Supercenter on November 14, 2023 in Burbank, California. Mario Tama | Getty Images News | Getty ImagesShoppers may get an early present this holiday season: Falling prices in many gift-giving...
Ballad of Songbirds and Snakes’ opening weekend box office
Tom Blyth and Rachel Zegler star as Coriolanus Snow and Lucy Gray Baird in Lionsgate's "Hunger Games: The Ballad of Songbirds and Snakes."Lionsgate"Snow lands on top."It's the mantra of the main character Coriolanus Snow in the upcoming "Hunger Games: The Ballad of...
Mattel hires ex-Fox, Sony exec to run TV studio
Mattel headquarters in El Segundo, California, US, on Friday, April 28, 2023.Bloomberg | Getty ImagesMattel hopes a new hire will help it expand its content slate, following the blowout box office success of "Barbie."The toy maker, home to Hot Wheels and American...
F1 spending cap made racing teams more investable
Singapore's F1 Grand Prix in 2022. 2022.Bryn Lennon - Formula 1 | Formula 1 | Getty ImagesTake an elite field of world-class racing experts. Ask them to spend fewer dollars toward beating their bitter rivals. The result, it turns out, is a slate of newly investable...
Homebuilder sentiment drops to lowest point in a year
High mortgage rates continue to weigh on the nation's homebuilders, leading to an increase in price cuts to lure buyers. But builders are cautiously optimistic about recent signs that interest rates may move lower soon.Homebuilder sentiment fell six points to 34 in...
GM union workers ratify UAW deal following contentious vote
United Auto Workers members strike the General Motors Lansing Delta Assembly Plant on September 29, 2023 in Lansing, Michigan. Bill Pugliano | Getty ImagesDETROIT – General Motors union workers ratified a record deal with the United Auto Workers after a contentious...
Amazon Kuiper internet satellites fully successful in testing
A Project Kuiper engineer conducts network testing as prototype satellites pass over McAllen, Texas.AmazonA little over a month after launch, Amazon on Thursday announced its pair of prototype internet satellites were fully successfully in operations and testing."We...
