- + The NBA is picking its TV partners — and a deal hinges on Warner Bros. Discovery's next move—Warner Bros. Discovery's latest talks with the NBA could turn into a legal battle if the league decides to sign an agreement with NBCUniversal, source...
- + FDA approves Amgen's treatment for most deadly form of lung cancer —The FDA cleared the Amgen drug, called Imdelltra, as a treatment for patients with advanced small-cell lung cancer.
- + Canada Goose jumps 16% after the company reports growth surge in China—Shares of Canada Goose soared 16% on Thursday after the apparel company reported better-than-expected revenue and earnings for its fiscal fourth quart...
- + The NBA is picking its next TV partners — and a deal hinges on Warner Bros. Discovery's next move—Warner Bros. Discovery's latest talks with the NBA could turn into a legal battle if the league decides to sign an agreement with NBCUniversal, source...
- + Boeing supplier Spirit AeroSystems lays off workers, citing lower plane delivery rates —Spirit makes fuselages at the plant for Boeing's best-selling 737 Max plane, deliveries of which have slowed in the wake of a door panel blowout.
- + United Airlines says FAA cleared it to start adding new aircraft, routes after safety review—United Airlines said in March that the FAA was stepping up its review of the airline after a series of safety incidents.
- + Walmart says more diners are buying its groceries as fast food gets pricey—Customers across incomes are looking for cheaper meals, Walmart's chief financial officer said.
- + United Airlines says FAA cleared it to add new aircraft, routes after safety review—United Airlines said in March that the FAA was stepping up its review of the airline after a series of safety incidents.
- + Walmart surges to all-time high as earnings beat on high-income shopper, e-commerce gains—Walmart, the nation's largest retailer and private employer, is often seen as a bellwether for the U.S. economy and saw sales jump 6% in the quarter.
- + Roche says weight loss drug shows promising results in early trial—The weekly injection helped patients with obesity lose 18.8% of their weight relative to those who received a placebo, after 24 weeks in the phase one...
- + Under Armour is laying off workers as retailer says North America sales will plunge this year—Sales in Under Armour's largest market in North America are falling as inflation weary consumers pull back on new clothes and shoes.
- + Wayfair to open its first large store, as physical locations make a comeback—What "retail apocalypse"? Wayfair and other digitally native companies are turning to physical stores for growth as e-commerce profits become more cha...
- + Walmart earnings beat as discounter wins over more high-income shoppers, e-commerce sales jump—Walmart, the nation's largest retailer and private employer, is often seen as a bellwether for the U.S. economy and saw sales jump 6% in the quarter.
- + Walmart will report earnings before the bell. Here's what to expect—As the nation's largest retailer and private employer, Walmart is often seen as a bellwether for the U.S. economy.
- + Netflix ad-supported tier has 40 million monthly users, nearly double previous count—Netflix's cheaper, ad-supported tier now has 40 million global monthly active users, nearly double the 23 million the company reported in January.
- + Biden's EV tariffs may not be enough to stave off the threat of Chinese vehicles in the U.S.—Automotive and trade experts say the increased tariffs are a near-term protectionism act that may delay but not stop Chinese EVs from coming to the U....
- + McDonald's $5 value meal is coming in June — and staying for just a month—The offering will include four items — a McChicken or McDouble, four piece chicken nuggets, fries and a drink.
- + Tesla's Chinese rival Nio launches a new brand and car that undercuts the Model Y by $4,000—Chinese electric car company Nio revealed Wednesday that the first car for its new, lower-priced brand, Onvo, will be about $4,000 cheaper than Tesla'...
- + Netflix to stream Christmas Day NFL games for three years—Netflix is taking its most significant live step yet into live sports with a deal to stream NFL games on Christmas Day.
- + Walgreens to offer its own cheaper version of opioid overdose reversal drug naloxone—Walgreens said it will sell a two-dose pack of its naloxone for $34.99, around $10 cheaper than over-the-counter Narcan nasal spray.
- + Justice Department says Boeing breached 2021 agreement that shielded it from criminal charges over 737 Max crashes—The Justice Department said Boeing violated a 2021 deferred prosecution agreement that protected it from criminal charges over the two fatal 737 Max c...
- + AMC's meme stock windfall may help it pay down a massive debt load—The last time these retail investors rallied around AMC, it avoided bankruptcy. Now, it has a chance to put a dent in its substantial debt load.
- + Disney+ will stream Caitlin Clark's WNBA debut in the platform's first live sports event—The WNBA regular season opens tonight with NCAA star Caitlin Clark making her debut. The game will be the first-ever live sports event streamed on Dis...
- + Walmart is laying off, relocating hundreds of corporate workers across the country. Read the memo—The move follows the closures of the company's health clinics and comes ahead of its earnings report on Thursday.
- + Fat Brands confidentially files to IPO its Twin Peaks and Smokey Bones restaurant chains—Fat Brands and its chair Andy Wiederhorn were criminally indicted for an alleged $47 million bogus loan scheme.
- + People on Novo Nordisk's Wegovy maintain weight loss for up to four years, study says—The results shed light on the long-term effects of Wegovy, and could boost Novo Nordisk's case to insurers and governments to cover the costly drug.
- + Comcast offers subscribers Peacock, Netflix and Apple TV+ bundle—The announcement comes as major media players, like Disney and Warner Bros. Discovery, increasingly join forces to boost subscriptions for streaming s...
- + Stellantis to rapidly grow exports of Chinese EVs to Europe, other countries—The announcement comes amid increasing geopolitical tensions surrounding China-made electric vehicles in the U.S., Europe and other regions.
- + Home Depot misses on revenue, as high interest rates hurt sales —Home Depot reported first-quarter earnings as it tries to grow sales with home professionals in a tough housing market.
- + NRF rejects Shein membership as retailer pursues U.S. IPO—If Shein gets a stamp of approval from the NRF, it could help legitimize the retailer in the eyes of lawmakers and clear its path to a U.S. IPO.
- + Airlines ask court to block Biden administration's new fee disclosure rule—Airlines for America, along with Alaska, American, Hawaiian, Delta, JetBlue and United airlines argue the DOT exceeded its authority in publishing the...
- + Novavax stock jumps 50% as Sanofi deal kicks off turning point for struggling vaccine maker—Novavax said the deal with Sanofi allows it to remove its "going concern" warning, which it first issued last year due to doubts about staying afloat.
- + Parent of CycleBar, Pure Barre fitness studios sees shares whipsaw after CEO ousted, federal probe disclosed—The parent company of CycleBar and Pure Barre studios said CEO Anthony Geisler would be suspended indefinitely and also disclosed a federal investigat...
- + Media companies look to woo advertisers as spending shifts to digital—Media giants are gearing up to woo advertisers at the annual Upfronts this week. Here's what the media landscape looks like in a moment of disruption.
- + Shein's U.S. charm offensive and IPO could hinge on NRF membership. So far, it's been rejected—If Shein gets a stamp of approval from the NRF, it could help legitimize the retailer in the eyes of lawmakers and clear its path to a U.S. IPO.
- + The rule capping credit card late fees at $8 is on hold — here’s what it means for you—The outcome preserves, at least for now, a key revenue stream for the U.S. card industry. The CFPB said the rule would've saved Americans $10 billion ...
- + NHL's Coyotes CEO, other Latino executives launch platform to promote Hispanics in sports —A group of Latino executives are starting an organization to promote Hispanic advancement within the sports industry.
- + Sweetgreen, Chipotle and other fast-casual chains are bucking the consumer slowdown—Chipotle Mexican Grill, Wingstop and Sweetgreen all beat Wall Street's estimates for their quarterly same-store sales growth.
- + Goldman Sachs and American Express are among the leading companies for working parents in 2024, new study shows—It can be challenging to juggle raising a family while working full time. Just Capital's research points to five leading companies where it might be p...
- + Sweetgreen shares soar 34% after company beats revenue expectations—Shares of the salad chain surged 34% Friday after the company's revenue beat analysts' expectations during its fiscal first quarter.
- + Goldman Sachs and American Express are the leading companies for working parents in 2024—For some it can be challenging to juggle raising a family while also working full time. Just Capital identified the top five companies for parents in ...
- + Novavax shares nearly double on Sanofi deal to commercialize Covid vaccine, develop combination shots—The deal will allow Novavax to lift its "going concern" warning, which it first issued in 2023 due to having "substantial doubt" about its ability to ...
- + McDonald’s is working to introduce a $5 value meal—The potential new offering comes at a time when low-income consumers are beginning to pull back on spending, particularly at fast-food brands.
- + Fat Brands stock craters after company, chair Andy Wiederhorn charged in $47 million 'sham' loan scheme—Fat Brands' portfolio includes Fatburger, Johnny Rockets and Twin Peaks.
- + Sweetgreen shares soar 35% after company beats revenue expectations—Shares of the salad chain surged 35% Friday after the company beat Wall Street's forecast for first-quarter results.
- + Fat Brands and chair Andy Wiederhorn indicted in $47 million 'sham' loan scheme—Fat Brands' portfolio includes Fatburger, Johnny Rockets and Twin Peaks.
- + Ford names ex-Lucid Motors exec as next CFO, promotes current chief—Ford named the former CFO of electric-vehicle startup Lucid to replace its current CFO, who is being promoted to closely oversee the company's turnaro...
- + Rivian, Lucid and other EV startups scramble to shore up cash and reassure Wall Street—Rivian, Lucid and Nikola this week each detailed plans to reduce costs while attempting to grow operations and make their first profits.
- + Promoters of Mike Tyson-Jake Paul Netflix fight offer $2 million VIP package—The boxing fight between Mike Tyson and Jake Paul is already sparking high ticket prices and significant bettor interest.
- + Novavax shares spike over 100% on Sanofi deal to commercialize Covid vaccine, develop combination shots—The deal will allow Novavax to lift its "going concern" warning, which it first issued in 2023 due to having "substantial doubt" about its ability to ...
- + An art market full of cracks is about to face a $1 billion test —While the spring sales typically have more than a dozen works offered for more than $30 million each, this year there are just a few.
- + Moderna says FDA delayed RSV vaccine approval to end of May—The FDA has not informed Moderna of any issues related to the vaccine's safety, efficacy or quality that would prevent its approval, the biotech compa...
- + Promoters of Mike Tyson-Jake Paul Netflix fight offer $2 million VIP package as ticket, bettor interest spike—The boxing fight between Mike Tyson and Jake Paul is already sparking high ticket prices and significant bettor interest.
- + Planet Fitness is raising prices even as it warns customers are growing cost-conscious—Starting this summer, classic card membership will be priced at $15 per month for new members, up from $10 per month.
- + Shareholders push casinos to reassess indoor smoking—Advocates for smoking bans point to research by C3 Gaming that concluded smoke-free casinos generate more revenue and outperform competitors that allo...
- + Sinclair explores selling roughly 30% of its broadcast stations, sources say—Sinclair is looking to sell a chunk of its 185 broadcast stations, according to people familiar with the matter.
- + Fitness startup that Peloton once tried to buy is growing as workout trends shift—Connected rowing company Hydrow is growing and Peloton is shrinking as fitness buffs move away from cardio in favor of weights.
- + Warner Bros. Discovery misses first-quarter estimates despite streaming growth—Warner Bros. Discovery reported first-quarter earnings before the bell Thursday.
- + McDonald's is betting on its mobile business with new franchisee digital marketing fund—McDonald's has previously said it wants to reach 100 million loyalty program members by 2027.
- + CFPB rule to save Americans $10 billion a year in late fees faces possible last-minute freeze—The credit card regulation is part of President Joe Biden's broader election-year war against what he deems junk fees.
- + GM can regain market share in China after hitting 20-year low, executive says—GM's market share in China has plummeted from roughly 15% as recently as 2015 to 8.6% last year — the first time it has dropped below 9% since 2003.
- + Disney, Warner Bros. Discovery to bundle streaming services —Disney and Warner Bros. Discovery plan to bundle their streaming services, Disney+, Hulu and Max.
- + Organized retail theft ring that targeted Macy's, other retailers is charged in New York—Two New Yorkers were charged with possessing and reselling more than $1 million in stolen goods through their business in Midtown Manhattan.
- + Applebee's owner Dine Brands wants to steal fast-food customers with its deals—Low-income consumers visited less frequently and spent more carefully when they did eat out in the first quarter, Dine Brands CEO John Peyton said.
- + Summer box office bust? This season's movie slate could put up the lowest haul in decades—This summer's box office, hampered by dual Hollywood labor strikes, could have the lowest movie ticket haul since 2000.
- + Oddity Tech says it's bucking the beauty slowdown Ulta warned about—Beauty stocks fell last month after Ulta CEO Dave Kimbell said beauty demand was cooling, but cosmetics upstart Oddity Tech said the industry is just ...
- + Disney says streaming is nearly breakeven, but shares sink 10% on soft guidance—Disney reported a loss of just $18 million in its direct-to-consumer businesses as earnings topped analyst estimates.
- + Disney says streaming is nearly break even, but shares sink 10% on soft guidance—Disney reported a loss of just $18 million in its direct-to-consumer businesses as earnings topped analyst estimates.
- + New York tops the list of the 50 richest cities in the world—The U.S. is increasing its lead as the largest creator of millionaires and billionaires in the world.
- + Amgen, newer rivals could threaten Novo Nordisk and Eli Lilly's weight loss drug dominance —Amgen, Viking Therapeutics, Altimmune, AstraZeneca, Boehringer Ingelheim and Zealand Pharma are making encouraging progress on their own treatments.
- + Private equity firms circle Peloton for potential buyout—Private equity firms have been circling Peloton for a potential buyout as it grapples with slowing sales and losses.
- + Life Time fitness leans into pickleball with Lululemon partnership, new courts and more—The upscale fitness company is trying to grow its brand by investing in America's fastest-growing sport, pickleball.
- + The streaming future Disney promised is finally here as cable TV decays—Disney's second-quarter results showed an improving streaming business and a rapidly declining linear TV unit
- + Disney earnings top analyst estimates as streaming nearly breaks even in the quarter—Disney reported a loss of just $18 million in its direct-to-consumer businesses as earnings topped analyst estimates.
- + Ahead of retail earnings, here's what we know about the consumer so far—Home Depot and Walmart kick off first-quarter retail earnings next week.
- + Disney quarterly results are on deck. Here's what to expect—This will be the company's first earnings call since it won a proxy fight against Trian Partners.
- + Dozens of former employees plan to sue Bowlero alleging discrimination after EEOC closes case, lawyer says—Dozens of former employees plan to sue Bowlero for discrimination and retaliation after the EEOC declined to bring a lawsuit against the company.
- + Citigroup CEO Jane Fraser says low-income consumers have turned far more cautious with spending—Citigroup CEO Jane Fraser joined CNBC's Sara Eisen on Monday for an interview on the economy.
- + Ex-CEO Howard Schultz says Starbucks needs to revamp its stores after big earnings miss—In its latest quarter, Starbucks reported a surprise decline in same-store sales and slashed its full-year forecast.
- + Equinox launches $40,000 membership to help you live longer —"Optimize by Equinox" is a personalized health program that includes everything from personal training and nutrition to sleep coaching and massage the...
- + Star Wars was the first Lego license — 25 years later, it's stronger than ever—The Star Wars license was the first of its kind for Lego. Now, it has become a blueprint for the company's other brand deals.
- + Dave & Buster's plan to allow betting on arcade games draws scrutiny —An Illinois lawmaker is proposing legislation to prevent wagering at family entertainment venues, saying such companies don't have proper safeguards i...
- + Berkshire Hathaway’s big mystery stock wager could be revealed soon—Warren Buffett's bet, shrouded in mystery, has captivated Berkshire Hathaway investors since first appearing in disclosures late last year.
- + Immigrant workers are helping boost the U.S. labor market—The government predicts that the influx of immigrant workers will grow gross domestic product over the next decade by $7 trillion.
- + Talent war between family offices and Wall Street drives up salaries —Wealthy families are spending an average of $3 million to run their family offices, according to a J.P. Morgan Private report, and the biggest cost is...
- + Skydance bid for Paramount hinges on Shari Redstone as special committee ends exclusive talks—Skydance is likely to walk away from its Paramount offer unless controlling shareholder Shari Redstone reaffirms her commitment following the Apollo-S...
- + Amgen stock soars on weight loss injection progress as Novo Nordisk, Eli Lilly shares slide—Amgen's update fueled concerns about potential new competition in the weight loss drug market, sending shares of Novo Nordisk and Eli Lilly lower.
- + Amgen scraps experimental weight loss pill, moves forward with injection—Amgen is among several drugmakers racing to join the red-hot weight loss drug space dominated by Novo Nordisk and Eli Lilly.
- + Wayfair shares surge after furniture retailer cuts losses by more than $100 million—Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.
- + Sony and Apollo send letter expressing interest in $26 billion Paramount buyout as company mulls Skydance bid—Sony and Apollo showed formal interest in a Paramount Global buyout as Paramount's special committee is prepared to give its recommendation to Skydanc...
- + Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt—Peloton announced Thursday that CEO Barry McCarthy will be stepping down just over two years after he took over from founder John Foley.
- + Wayfair shares surge 10% after furniture retailer cuts losses by more than $100 million—Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.
- + Wayfair shares surge 17% after furniture retailer cuts losses by more than $100 million—Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.
- + Moderna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold—The company reiterated its full-year 2024 sales guidance of roughly $4 billion, which includes revenue from the expected launch of its RSV vaccine.
- + Viking shares rise 8% after cruise line operator's market debut—The company's initial public offering coincides with a strong rebound in cruise bookings.
- + Carvana shares spike 30% as used car retailer posts record first quarter—Carvana reported record first-quarter results Wednesday that beat Wall Street's top- and bottom-line earnings expectations for the online used car ret...
- + Viking shares rise more than 10% after cruise line operator's market debut—The company's initial public offering coincides with a strong rebound in cruise bookings.
- + Bally Sports regional networks go dark for Comcast cable customers—Carriage negotiations between Comcast and Diamond Sports broke down, leaving cable customers without access to Bally Sports regional networks during M...
- + Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's—Starbucks, Pizza Hut and KFC are among the chains that reported same-store sales declines this quarter.
- + Pfizer beats earnings estimates, raises outlook on cost cuts and smaller-than-feared drop in Covid drug sales—The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.
- + CVS shares plummet as health company slashes profit outlook on higher medical costs—CVS and other insurers have seen medical costs spike as many Medicare Advantage patients return to hospitals to undergo procedures they delayed during...
- + NYCB shares jump 30% after CEO gives two-year plan for 'clear path to profitability'—CEO Joseph Otting took over NYCB in April after an investor group led by former Treasury Secretary Steven Mnuchin injected more than $1 billion into t...
- + Yum Brands earnings miss estimates as Pizza Hut, KFC sales disappoint—KFC and Pizza Hut reported same-store sales declines, while Taco Bell's same-store sales rose just 1%.
- + Johnson & Johnson to pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.—The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management.
- + Pfizer beats revenue estimates, raises profit outlook on cost cuts and smaller-than-feared drop in Covid drug sales—The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.
- + To train car dealers on EVs and other topics, Ford turns to gamification and AI-powered education—Dealership employees, who are employed outside Ford by dealers, are crucial for the company's sales, performance and customer engagement and satisfact...
- + Starbucks shares sink 12% as coffee chain slashes 2024 forecast amid same-store sales drag—Across all regions, Starbucks reported shrinking same-store sales and falling traffic.
- + Starbucks shares sink 10% as same-store sales fall, quarterly results miss—Starbucks reported earnings after the bell. Here are the results.
- + NBC Sports could buy back rights to iconic theme song 'Roundball Rock' if it airs NBA games again, composer John Tesh says—NBC Sports can license the rights to John Tesh's famous "Roundball Rock" theme song if it secures a new NBA media package, Tesh said in an e-mail.
- + FTC challenges 'junk' patents held by 10 drugmakers, including for Novo Nordisk's Ozempic—The agency sent letters to Novo Nordisk, AstraZeneca, Boehringer Ingelheim, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals, among other...
- + Home prices soar even higher in February, despite higher mortgage rates, says S&P Case-Shiller—It marked another increase after the prior month's annual gain of 6%, and the fastest rate of price growth since November 2022.
- + Coca-Cola tops earnings estimates, hikes revenue outlook on higher prices—Shares of Coke have fallen 3.5% over the last year, dragging the company's market value down to $267 billion.
- + McDonald’s earnings miss estimates as diners pull back, Middle East boycotts hit sales—McDonald's shares have fallen 7.5% over the last year, dragging its market value down to $197 billion.
- + Eli Lilly beats on quarterly profit, hikes full-year guidance on strong sales of Zepbound, Mounjaro—Zepbound reported $517.4 million in sales for the quarter, even as most doses of the drug slipped into shortages in the U.S.
- + McDonald’s earnings miss estimates as boycotts weigh on Middle Eastern sales—McDonald's shares have fallen 7.5% over the last year, dragging its market value down to $197 billion.
- + Walmart to shutter health centers, virtual care service in latest failed push into health care—Walmart said clinics are not a sustainable business model due to a challenging reimbursement environment for primary care and increasing operating cos...
- + Coca-Cola earnings are out – Here are the numbers—Shares of Coke have fallen 3.5% over the last year, dragging the company's market value down to $267 billion.
- + Burger King invests another $300 million to remodel restaurants —The restaurant company is planning to spend $2.2 billion to revive Burger King's U.S. business.
- + Walmart launches new grocery brand, as it tries to hang on to inflation-fueled growth—The nation's largest grocer sees room to build on its inflation-fueled grocery gains.
- + Dave & Buster's to allow customers to bet on arcade games—One of the largest entertainment operators in the country, Dave & Buster's, will allow its loyalty customers to compete against one another on its...
- + McDonald's is about to report earnings. Here's what to expect—McDonald's shares have fallen 7.5% over the last year, dragging its market value down to $197 billion.
- + Judge rejects J&J, Bristol Myers Squibb challenges to Medicare drug-price negotiations—The decision is another win for the Biden administration in a bitter legal fight with several drugmakers over the constitutionality of the price talks...
- + Paramount says CEO Bob Bakish is stepping down, will be replaced by a trio of executives—Paramount Global CEO Bob Bakish is out, the company announced Monday, as merger negotiations with Skydance Media continue.
- + Skydance extends final offer to Paramount as merger talks stick on a possible shareholder vote—Paramount Global is set to remove Bob Bakish as CEO on Monday; Skydance makes its best and final offer.
- + Peacock streaming subscription prices to increase by $2 ahead of the Summer Olympics—Comcast's streaming service Peacock will see a price increase of $2 this summer.
- + Family offices are looking beyond the stock market for higher returns, new report finds—Unlike stocks, alternatives such as private equity and private companies have more gradual valuation changes, smoothing out volatility.
- + Shari Redstone is playing M&A war games with removal of Paramount CEO Bob Bakish—Paramount Global is set to remove Bob Bakish as CEO on Monday, putting shareholders to the test on how they want to see the company proceed.
- + Pittsburgh Pirates, Penguins launch streaming service for local games—The regional sports network that airs Pirates and Penguins game is launching a streaming service priced at $17.99 a month.
- + American Airlines cuts some international flights into 2025, citing Boeing delivery delays—American is the latest carrier to tweak its growth plan, citing late-arriving planes from Boeing.
- + A CVS Health pharmacy in Vegas becomes first to join new national pharmacy union—Dozens of pharmacy staff at the Las Vegas branch of CVS's Omnicare will now join the Pharmacy Guild, which will represent them in labor negotiations w...
- + American Airlines cuts some international flights into 2025 citing Boeing delivery delays—American is the latest carrier to tweak its growth plan, citing late-arriving planes from Boeing.
- + A CVS pharmacy in Vegas becomes first to join new national pharmacy union—Nearly 30 pharmacy staff at the Las Vegas branch of CVS's Omnicare will now join The Pharmacy Guild, which will represent them in labor negotiations w...
- + The new class war: A wealth gap between millennials—The surge in wealth among millennial heirs is creating new markets for wealth-management firms, luxury companies, travel firms and real estate brokers...
- + Starbucks, Workers United made 'significant progress' in this week's contract talks —Starbucks and the union plan to meet again in late May to keep working on the framework that will inform every single-store contract.
- + FDA approves Pfizer’s first gene therapy for rare inherited bleeding disorder—The agency greenlit the drug, which will be marketed as Beqvez, for adults with moderate to severe hemophilia B.
- + Paramount and Skydance inch closer to a merger as key hurdle looms, sources say—Paramount Global and Skydance are getting closer to final terms on a merger agreement, sources told CNBC, but a renewal with Charter remains an obstac...
- + Professional pickleball signs first international deal, looks to grow the sport in India—Pro pickleball is looking to world's most populous country for its continued growth.
- + Open seating no more? Southwest CEO says airline is weighing cabin changes—Southwest stands apart from other large airlines because it does not have seat assignments.
- + Honda to build $11 billion electric vehicle hub in Canada—Honda and its joint venture partners plan to invest $11 billion in Ontario, Canada to create a "comprehensive EV value chain," the Japanese automaker ...
- + Southwest cuts growth plans, warning effect of Boeing airplane delays will last into 2025—Southwest Airlines is one of Boeing's biggest customers and flies only 737s.
- + American Airlines swings to a loss, but tops estimates for Q2 forecast—American Airlines swung to a loss in the first quarter but its forecast for the current period surpassed analysts' estimates.
- + Bristol Myers Squibb beats on revenue, launches $1.5 billion cost cuts as it posts quarterly loss—Bristol Myers Squibb said the charges primarily reflect its acquisition of Karuna Therapeutics and collaboration agreement with SystImmune.
- + Comcast beats earnings estimates even as it sheds more broadband subscribers—Comcast will report first-quarter earnings before the bell. Wall Street will be paying attention to broadband and Peacock subscriber numbers.
- + Red Lobster seeks a buyer as it looks to avoid bankruptcy filing—Beleaguered seafood chain Red Lobster is looking for a buyer to avoid filing for bankruptcy as it contends with slower sales and costly leases.
- + Merck beats earnings expectations, raises outlook on strong Keytruda and vaccine sales—The first-quarter results come as Merck shows substantial progress in preparing for Keytruda's patent expiration in 2028.
- + Walgreens to help bring cell and gene therapies to patients as it expands specialty pharmacy services—Among the company's investments to "transform" its specialty pharmacy services is the opening of a new facility dedicated to cell and gene therapy ser...
- + Chipotle abandons Farmesa Fresh Eatery spinoff after ghost kitchen closes—A little over a year ago, Chipotle announced the opening of its first Farmesa location.
- + JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank—The escalation shows how American banks are struggling to navigate American sanctions rules more than two years after Russia's invasion of Ukraine.
- + Chipotle posts big earnings beat as diners shake off higher prices—The burrito chain said traffic increased 5.4% in its first quarter.
- + Ford tops first-quarter earnings estimates as commercial unit offsets EV losses—Sales of Ford Motor trucks and other commercial vehicles led the automaker to beat Wall Street's earnings estimates for the first quarter.
- + Chipotle reports big earnings beat, and its shares are jumping—The burrito chain said traffic increased 5.4% in its first quarter.
- + Ford is set to report earnings after the bell. Here's what Wall Street expects—In addition to financial results, investors will be watching for progress in CEO Jim Farley's "Ford+" restructuring plan and any changes to its EV rol...
- + Biogen tops profit estimates as cost cuts take hold, Alzheimer's drug Leqembi launch picks up—Alzheimer's drug Leqembi brought in approximately $19 million in sales for the quarter, up from the $10 million the drug generated last year.
- + Boeing reports better-than-feared quarter, says supply chain is stabilizing amid 737 Max crisis—Boeing has been mired in a safety crisis since a door plug blew off a 737 Max 9 in early January.
- + Foot Locker debuts 'store of the future' as it looks to win back Wall Street's confidence—Foot Locker unveiled its "store of the future" concept that will inspire the revamping of 900 stores the sneaker retailer is planning over the next tw...
- + Starbucks resumes bargaining with union after two sides thaw relationship—In February, Starbucks and Workers United said they found a "constructive path forward," marking a major strategic pivot for the coffee giant.
- + More than 3 million Medicare patients could be eligible for coverage of Wegovy to reduce heart disease risks, study says—For the first time, some Medicare beneficiaries will be able to access Novo Nordisk's Wegovy without having to shoulder the total monthly price tag.
- + Boeing reports quarterly results before the bell. Here's what Wall Street expects—Boeing has been mired in a safety crisis since a door plug blew off a 737 Max 9 in early January.
- + JetBlue shares tumble nearly 19% after airline lowers 2024 revenue outlook—JetBlue said second-quarter revenue would likely drop as much as 10.5% on the year.
- + E.W. Scripps exploring sale of Black-culture broadcast network Bounce TV—E.W. Scripps has received inbound interest in its Black-culture network Bounce TV, CEO Adam Symson said in an exclusive CNBC interview.
- + JetBlue shares tumble 15% after airline lowers 2024 revenue outlook—JetBlue said second-quarter revenue would likely drop as much as 10.5% on the year.
- + JetBlue shares tumble 14% after airline lowers 2024 revenue outlook—JetBlue said second-quarter revenue would likely drop as much as 10.5% on the year.
- + PepsiCo earnings beat estimates but product recalls, weaker lower-income consumer hurt U.S. sales—PepsiCo's volume and sales growth were better in most international markets than in its North America markets.
- + JetBlue shares tumble 13% after airline lowers 2024 revenue outlook—JetBlue said second-quarter revenue would likely drop as much as 10.5% on the year.
- + General Motors raises 2024 guidance after big first-quarter earnings beat—GM's North American operations, driven by truck sales, were largely responsible for the company's first-quarter beat and guidance raise, the automaker...
- + Walmart-backed fintech One introduces buy now, pay later as it prepares bigger push into lending—One's expanding role at Walmart raises the possibility that the company could force Affirm and others out of some of the most coveted partnerships in ...
- + General Motors is set to report earnings before the bell. Here's what Wall Street expects—Wall Street expects GM to report solid results for the first quarter, with vehicle pricing remaining higher than anticipated.
- + FTC sues to block Coach parent Tapestry's acquisition of Capri Holdings—The FTC argued the combination of Tapesty and Capri would hurt consumers and workers.
- + Boeing expects slower production increase of 787 Dreamliner because of parts shortages—Boeing reports quarterly results before the market opens on Wednesday.
- + What investors should know about the UAW's organizing drive of VW—The historic vote could have wide-ranging impacts on other automakers, organized labor and the overall U.S. automotive industry.
- + Luxury real estate prices just hit an all-time record —Luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.
- + Meet the private doctor to the wealthy — at $40,000 a year—The rise of family office-style medical practices reflects the surge in wealth and growing demand for hyper-personalized, data-driven health care.
- + Disney technology executive Aaron LaBerge to leave company for personal reasons—Disney Entertainment CTO Aaron LaBerge is leaving the company for personal reasons, according to a company memo. A search for his replacement is under...
- + Delta Air Lines gives staff another 5% raise, hikes starting wages to $19 an hour—Delta is the country's most profitable airline and has repeatedly lifted staff pay.
- + Ex-JetBlue CEO Robin Hayes to run Airbus North America —The recently departed CEO will be managing relationships with customers in North America, including his former airline and Spirit.
- + Express files for bankruptcy, plans to close nearly 100 stores as investor group looks to save the brand —Longtime mall retailer Express filed for bankruptcy and plans to close nearly 100 stores as an investor group looks to save it from extinction.
- + Cricket, a big business in India, brings star power to the U.S. with the country's first world cup—A cricket world cup is arriving in the U.S. for the first time as the country explores its future with the sport.
- + Most people on weight loss drugs are spending less on restaurants and takeout, survey says—The findings add to concerns that GLP-1s could take a bite out of the bottom lines of some of the biggest restaurant companies and packaged food maker...
- + VW workers in Tennessee vote to join UAW in historic win for Detroit union—Volkswagen workers in Tennessee have voted in favor of the United Auto Workers — marking the union's first successful organizing drive of a foreign au...
- + Lululemon to shutter Washington distribution center, lay off 128 employees after tripling warehouse footprint—Lululemon is shutting down its Washington distribution center and laying off 128 employees after it opened a massive new warehouse outside of Los Ange...
- + Drone startup Zipline hits 1 million deliveries, looks to restaurants as it continues to grow—The company said its zero-emission drones have now flown more than 70 million autonomous commercial miles across four continents.
- + FAA will require more rest time for air traffic controllers amid fatigue concerns—Staffing shortfalls have led to forced overtime and tightly packed air traffic controller schedules
- + Procter & Gamble sales disappoint as price hikes slow down—The Tide owner's quarterly volume was flat for the second consecutive quarter.
- + Netflix forces Wall Street to focus on profit and revenue with decision to stop reporting subscriber numbers in 2025—Netflix will no longer report its quarterly subscriber additions, a sign that the benefits of its password-sharing crackdown may be ending.
- + Nordstrom family tries again to take department store private, forms special committee —The Nordstrom family is once again considering taking the department store private and has formed a special committee to evaluate bids.
- + Mortgage rates are now at the highest level of the year, and could still climb—The average rate on the popular 30-year fixed mortgage sits around 7.5%, the highest level since mid-November of last year, according to Mortgage News...
- + Netflix blows past earnings estimates as subscribers jump 16%—Netflix said its subscribers grew 16% to 269.6 million, but said it would no longer regularly report the metric starting next year.
- + Mortgage rates are now at the highest level of the year, and could go even higher—The average rate on the popular 30-year fixed mortgage sits around 7.5%, the highest level since mid-November of last year, according to Mortgage News...
- + NBA's exclusive TV rights negotiating window with ESPN, Warner expected to pass without a deal—The NBA's exclusive window with incumbent media partners Disney and Warner Bros. Discovery will expire April 22 without a signed deal, according to so...
- + Alaska Airlines 2024 forecast tops estimates after loss from Boeing Max grounding—Alaska Airlines said Boeing paid it $162 million so far in compensation for the 737 Max grounding.
- + March homes sales dropped despite a surge in supply. Here's why.—The median price of an existing home sold in March was $393,500, up 4.8% from the year before.
- + Netflix is set to report earnings – here's what Wall Street expects—Netflix's main focus recently has been on juicing profits, not necessarily growing its subscriber count.
- + U.S. tech CEOs give India PM Modi boost ahead of election—India's Narendra Modi has been courting U.S. tech company leaders like Elon Musk and Tim Cook ahead of the country's national elections.
- + Billionaire Kam Ghaffarian sets his sights on the stars with a range of space companies—Ghaffarian has been instrumental in ushering in the new space economy, with leadership roles at Intuitive Machines, Axiom Space, Quantum Space and X-E...
- + Airline executives predict a record summer and even more demand for first class—Delta and United executives have forecast record demand this spring and summer with even more travelers booking in higher classes.
- + United Airlines jumps 17% on strong earnings forecast, cuts 2024 fleet plan on Boeing delays—United expects to receive fewer aircraft this year and is planning to add leased Airbus A321neos.
- + Boeing faces scrutiny in Senate hearings over aircraft safety and quality—A Boeing whistleblower testified in a hearing Wednesday about safety concerns related to two of the company's aircraft.
- + Vince McMahon is taking vacations and in touch with Trump as WWE tries to move on from scandal-plagued ex-CEO—McMahon resigned as executive chairman of the WWE earlier this year after a former employee, Janel Grant, accused him of sexual abuse and trafficking.
- + United Airlines jumps more than 13% on strong earnings forecast, cuts 2024 fleet plan on Boeing delays—United expects to receive fewer aircraft this year and is planning to add leased Airbus A321neos.
- + Comcast launches prepaid and month-to-month internet and phone plans—Comcast announced Wednesday it is launching NOW, a new prepaid and month-to-month streaming and phone plan aimed at lower-income customers.
- + Most doses of Eli Lilly's Zepbound, Mounjaro in short supply through June, FDA says —The insatiable demand for weight loss and diabetes drugs is still trouncing supply, even as Eli Lilly and Novo Nordisk work to increase production cap...
- + United Airlines jumps more than 10% on strong earnings forecast, cuts 2024 fleet plan on Boeing delays—United expects to receive fewer aircraft this year and is planning to add leased Airbus A321neos.
- + Eli Lilly’s weight loss drug Zepbound shows promise as a sleep apnea treatment in late-stage trials—The pharmaceutical giant plans to present the trial data at an upcoming medical conference and submit them to the U.S. Food and Drug Administration mi...
- + Superyacht sales plunge as wait times rise, Russian oligarchs drop out of the market—Sales of superyachts took a dive in 2023, as long waiting lists, soaring costs and Russian oligarch sanctions hit demand.
- + United Airlines slashes 2024 aircraft delivery plan as Boeing crisis leads to delays—United expects to receive fewer aircraft this year and is planning to add leased Airbus A321neos.
- + Planet Fitness shares fall as company announces new CEO—Planet Fitness has appointed a new CEO effective June 10 after a monthslong search for new leadership.
- + Planet Fitness shares fall as company announces new CEO, though analysts see upside—Planet Fitness has appointed a new CEO effective June 10 after a monthslong search for new leadership.
- + Republican governors from six states condemn UAW campaigns, citing potential for layoffs—The joint statement was signed by governors in Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas.
- + South Carolina coach Dawn Staley says women's basketball will get 'better and better'—South Carolina coach Dawn Staley said women's basketball will only get bigger after her team's undefeated season and Caitlin Clark's record-breaking r...
- + TGI Fridays to go public through merger with its U.K. franchisee—The new company will be publicly traded on the London Stock Exchange under the ticker "TGIF."
- + Morgan Stanley tops expectations on wealth management, trading and investment banking results—How did Morgan Stanley CEO Ted Pick do in his first quarter leading the company?
- + Volkswagen union vote in Tennessee to test UAW's power after victories in Detroit—Union voting for more than 4,000 eligible VW workers will begin Wednesday and end at 8 p.m. EDT on Friday.
- + Bank of America tops estimates on better-than-expected interest income, investment banking—Bank of America on Tuesday reported first-quarter earnings that topped analysts' estimates for profit and revenue.
- + Morgan Stanley is about to report first-quarter earnings—How did Morgan Stanley CEO Ted Pick do in his first quarter leading the company?
- + Johnson & Johnson tops quarterly profit estimates as medical device sales jump—The company is benefiting from a rebound in demand for nonurgent surgeries among older adults, who deferred those procedures during the Covid pandemic...
- + Bank of America is set to report first-quarter earnings — here’s what Wall Street expects—Will Bank of America follow rivals in posting better-than-expected Wall Street revenue?
- + Boeing defends 787 Dreamliner safety after whistleblower alleged structural flaws—A whistleblower alleged that Boeing's 787 and 777 models have structural flaws
- + Peloton quietly drops unlimited free app membership because it failed to bring in paid subscribers—Peloton debuted an unlimited free membership option for its app last year in a bid to win over new customers, but the company quietly ended the initia...
- + UnitedHealth's first-quarter report will offer a window into Change cyberattack costs—The financial impact of the Change Healthcare cyberattack is expected to weigh on UnitedHealth Group's first-quarter results.
- + Goldman Sachs tops first-quarter estimates fueled by trading, investment banking—Goldman Sachs CEO David Solomon has taken his lumps in the past year, but a turnaround appears to be underway, fueled by a rebound in Wall Street acti...
- + World's busiest airports show surge in international travel. Here are the rankings—Airports from Tokyo to London logged big increases in travelers in 2024.
- + State tax officials are using AI to go after wealthy payers —New York state is sending out AI-generated letters looking for tax revenue, many of them focused on remote work or a change in tax residency.
- + Goldman Sachs reports earnings before market open — here's what the Street expects—Goldman Sachs CEO David Solomon has taken his lumps in the past year, but hope is building for a turnaround.
As of 5/17/24 1:43am. Last new 5/16/24 7:10pm. Score: 446
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