- + Audi reveals new all-electric Q6 e-tron SUV, its first next-generation EV—Ordering for the Q6 e-tron quattro will open this month in Europe, starting at 74,400 euros, or about $81,000.
- + UAW says VW workers at Tennessee plant file for union election—The filing comes after a "supermajority of Volkswagen workers have signed union cards in just 100 days," the UAW said.
- + Homebuilder sentiment turns positive for the first time since July—Homebuilders are seeing better demand despite stubbornly high interest rates.
- + United Airlines CEO tries to reassure customers after string of flight problems—United Airlines CEO said the company will use findings from a series of flight problems to inform training and procedures for staff.
- + Weight loss drug Wegovy is now approved for heart health — but that won't mean broad insurance coverage just yet—Some health plans and employers are still reluctant to cover Wegovy due to its hefty price tag, which they say could significantly strain their budget...
- + The state of women's sports: Top executives weigh in on parity, media share and NIL regulations—Women's sports reached an inflection point in 2023, propelled by major new broadcast deals, once-in-a-lifetime players and record-breaking audiences.
- + Beyoncé's country songs are bringing new listeners to the genre, boosting streams for Black artists—Her new album is highlighting the genre's lack of representation among artists of color at a time when country music finds growing interest from new l...
- + Weight loss drug Wegovy is now approved for heart health — but that won't mean broad insurance coverage just yet—Some health plans and employers are still reluctant to cover Wegovy due to its hefty price tag, which they say could significantly strain their budget...
- + FDA approves Madrigal Pharmaceuticals drug as first treatment for common NASH liver disease—The FDA's decision means Madrigal has succeeded in a disease area that several larger companies have failed — or are still trying to break into.
- + Morgan Stanley names a head of artificial intelligence as Wall Street leans into AI—The move shows the rising importance of AI in financial services, sparked by the rise of generative AI tools that create human-like responses to queri...
- + Wall Street isn't pleased that Kevin Plank is returning as Under Armour's CEO, shares plunge 12%—Stephanie Linnartz, a former Marriott executive who took over at Under Armour in February 2023, is the second CEO UAA has cycled through in less than ...
- + Shares of Dick's Sporting Goods soar 15% on holiday earnings beat, dividend raise—Dick's Sporting Goods said its holiday quarter was the strongest sales period in the company's history, leading it to raise its dividend by 10%.
- + 'Dollars up, donors down': More charity money is coming from the ultra-wealthy—Charitable donations are becoming hyper concentrated among a small group of ultra-wealthy mega-donors.
- + SpaceX's Starship notches major flight test milestones, breaks up over Indian Ocean in final moments—SpaceX launched the third test flight of its Starship rocket on Thursday, as the company pushed development of the mammoth vehicle past new milestones...
- + Home Depot will open four distribution centers as it looks to home pros to drive sales growth—Home Depot is building out the facilities as it looks to pros, which make up about half its business, for revenue growth this year.
- + Dick's Sporting Goods soars past holiday quarter estimates, raises dividend 10%—Dick's Sporting Goods said its holiday quarter was the strongest sales period in the company's history, leading it to raise its dividend by 10%.
- + Kevin Plank returns as Under Armour CEO, Mohamed El-Erian named board chair—Under Armour announced CEO Stephanie Linnartz is stepping down from her role just over a year after she started.
- + SpaceX cleared to attempt third Starship launch Thursday after getting FAA license—The Federal Aviation Administration on Wednesday issued SpaceX with the launch license the company needed to fly its latest Starship prototype.
- + EV euphoria is dead. Automakers are scaling back or delaying their electric vehicle plans—Automakers from Ford and GM to Mercedes-Benz, Volkswagen and Aston Martin are scaling back or delaying their electric vehicle plans.
- + EV euphoria is dead. Automakers trumpet consumer choice for U.S. car shoppers—Automakers from Ford and GM to Mercedes-Benz, Volkswagen and Aston Martin are scaling back or delaying their electric vehicle plans.
- + Petco CEO Ron Coughlin is out, former Best Buy exec to step in as interim chief executive—Ron Coughlin has served as Petco's CEO for more than five years and has been instrumental in transforming the company into a health and wellness busin...
- + Eli Lilly taps Amazon Pharmacy to help deliver weight loss drug Zepbound, other medicines to patients —Amazon Pharmacy second online pharmacy to partner with Eli Lilly's site, and could provide faster deliveries for certain patients.
- + GM hires ex-Tesla, Google exec to replace retiring head of manufacturing —Gerald Johnson, executive vice president of global manufacturing and sustainability, will be replaced by Jens Peter "JP" Clausen, a former executive w...
- + Boeing Max crisis forces airlines to cut flights, pause hiring, CEOs say—United is pausing pilot hiring, Southwest is trimming its schedule and Alaska said its growth plans are in flux because of Boeing's delivery delays.
- + Southwest Airlines cuts capacity and rethinks 2024 financial forecast, citing Boeing problems—Southwest joined other airlines in forecasting fewer Max deliveries from Boeing as the manufacturer struggles with a quality control crisis.
- + Frontier's newest upsell: Empty middle seats, more legroom at the front of the plane—Frontier has started to sell seats at the front of the plane with blocked middle seats, starting at $49.
- + Airbus widens aircraft delivery lead over Boeing as Max crisis deepens—Boeing delivered 27 planes in February, while Airbus handed over 49.
- + Longtime CEO of Berkshire Hathaway's Brooks Running will step down, hand the reins to company veteran—The longtime CEO of Berkshire Hathaway's Brooks Running, Jim Weber, is stepping down, and its COO Dan Sheridan is taking over.
- + Ulta CEO says e-commerce sites can do more to stop the sale of stolen goods—Ulta Beauty CEO Dave Kimbell said online marketplaces are contributing to organized retail crime and need to do more to deter the sale of stolen goods...
- + Southwest Airlines cuts capacity, and rethinks 2024 financial forecast, citing Boeing problems—Southwest joined other airlines in forecasting fewer Max deliveries from Boeing as the manufacturer struggles with a quality control crisis.
- + Babies R Us is coming to about 200 Kohl's stores—Kohl's announced the deal with WHP Global as it released holiday-quarter earnings.
- + Inside the organized crime rings plaguing retailers including Ulta, T.J. Maxx and Walgreens—Organized retail crime rings can involve groups that sell stolen goods at flea markets and more sophisticated networks that resell stolen goods on Ama...
- + Lego revenue ticks higher in 2023, despite trade-downs and China pullback—Lego revenue in 2023 rose 2%, reaching 65.9 billion Danish krone, or about $9.65 billion.
- + How NWSL Commissioner Jessica Berman led the league out of crisis to revive women's soccer—Berman has worked to transform the culture of the NWSL and to supersize its business at a time when women's sports are seeing unprecedented growth.
- + Pfizer is betting big on cancer drugs to turn business around after Covid decline – here's what to know—The pharmaceutical giant has been trying to shore up investor sentiment after its shares fell more than 40% in 2023.
- + McDonald’s and other restaurant chains look to the Sun Belt for growth as population soars—As the population of the Sun Belt grows, restaurant chains such as McDonald's and Portillo's are looking to those states for future sales growth.
- + Novo Nordisk's Wegovy wins FDA approval for cutting heart disease risks, in move that could expand insurance coverage —That decision could widen insurance coverage for the drug and similar treatments for obesity, which has been a major barrier to access for patients.
- + Spacecraft maker Terran Orbital 'looking at everything,' CEO says after Lockheed Martin takeover bid—Satellite manufacturer Terran Orbital is "looking at everything" regarding the company's future, CEO Marc Bell told CNBC.
- + GM cuts Chevy Blazer EV price as sales restart following software issues—GM is reducing the price of its new Chevy Blazer EV as it restarts sales of the vehicle following an 11-week stoppage to address significant software ...
- + Novo Nordisk CEO says experimental weight loss pill could become a best-in-class drug—Lars Fruergaard Jørgensen's remarks came one day after Novo Nordisk impressed investors with early-stage trial data on amycretin.
- + Eli Lilly says FDA delays approval of Alzheimer's drug in surprise move—The FDA plans to call a last-minute meeting of its outside advisors to further review the Eli Lilly Alzheimer's treatment's safety and efficacy.
- + Family offices have tripled since 2019, creating a new gold rush on Wall Street—Experts say family offices now manage $6 trillion or more, and their ranks are growing.
- + Costco misses holiday-quarter revenue expectations despite online growth—E-commerce sales grew 18.4% in the quarter compared with the year earlier.
- + Gap shares pop as company's holiday earnings blow past estimates, Old Navy returns to growth—Sales at Gap's largest banner Old Navy have been down for more than a year but that trend reversed on Thursday when the retailer reported a 6% jump in...
- + Space company Astra going private to avoid bankruptcy after dismal public run—Space company Astra will go private in a cut-rate deal with its founders after a dismal run as a publicly-traded stock.
- + Rivian shares surge as company reveals new EV models, $2.25 billion in cost savings—The announcements come at a crucial time for Rivian as it attempts to expand its customer base amid slower-than-expected EV sales in the U.S.
- + Grocers are trying to get orders to your door faster than ever — here's why—Walmart, Target and Kroger are trying to stand out on grocery convenience, not just price.
- + Rivian shares surge as company reveals new EV models, including the R2 SUV—The R2 comes at a crucial time for Rivian as it attempts to expand its customer base and regain investor confidence following a collapse in the stock.
- + Walmart, Target and Kroger are racing to deliver groceries as competition heats up—Walmart, Target and Kroger are trying to stand out on grocery convenience, not just price.
- + Cigna will cap how much insurance can spend on weight loss drugs as it tries to expand coverage—Cigna's Evernorth will limit spending increases for those GLP-1s to a maximum of 15% annually.
- + United to pause pilot hiring, citing Boeing's delivery delays—United said it will pause pilot hiring in May and June because of delivery delays from Boeing.
- + Robinhood partners with Klutch Sports, brings Rich Paul on as advisor as it moves into sports and entertainment—Trading platform Robinhood is partnering with Klutch Sports Group, the firm founded by LeBron James' agent Rich Paul, and bring Paul on as an advisor.
- + NYCB says it lost 7% of deposits in the past month, slashes dividend to 1 cent—NYCB had $77.2 billion in deposits as of March 5, NYCB said in an investor presentation tied to the capital raise, down from $83 billion it had as of ...
- + Robinhood partners with Klutch Sports, adds Rich Paul to its board as it moves into sports and entertainment—Trading platform Robinhood is partnering with Klutch Sports Group, the firm founded by LeBron James' agent Rich Paul, and adding Paul to its board.
- + Cigna launches effort to cap employer insurance plan spending on weight loss drugs—Cigna's Evernorth struck agreements with Novo Nordisk and Eli Lilly to limit spending increases for those GLP-1s to a maximum of 15% annually.
- + Barbie is the blueprint as Mattel seeks to revitalize American Girl, Fisher-Price—Mattel is facing activist pressure from Barington Capital, particularly around its strategy with the Fisher-Price and American Girl brands.
- + American Eagle unveils strategy to grow profits, takes $94 million in impairment charges for logistics business —American Eagle unveiled a new strategy to boost profitable growth over the next three years by focusing on building out its brands and optimizing oper...
- + United Airlines launches Morocco, Colombia flights, beefs up China service—Major airlines are chasing a rebound in international travel, whose revenue has grown faster than domestic travel.
- + Why private equity has been involved in every recent bank deal—New York Community Bank's $1 billion-plus capital raise is the latest example of private equity players coming to rescue a regional bank.
- + Biden says Medicare should negotiate prices for at least 50 drugs each year, up from a target of 20—The proposal is one of several new health-care policy proposals that Biden will outline during his State of the Union address Thursday.
- + Foot Locker shares plunge nearly 30% as retailer posts holiday loss, delays key financial target—Foot Locker reported earnings as CEO Mary Dillon leads the legacy retailer through an ambitious turnaround. But some analysts say it has gone too slow...
- + Foot Locker shares plunge more than 20% as retailer posts holiday loss, delays key financial target—Foot Locker reported earnings as CEO Mary Dillon leads the legacy retailer through an ambitious turnaround. But some analysts say it has gone too slow...
- + Russian oligarch's yacht is costing U.S. taxpayers close to $1 million a month—The Justice Department is seeking permission to sell a 348-foot yacht called Amadea, which it seized in 2022, alleging it was owned by Suleiman Kerimo...
- + Abercrombie & Fitch beats holiday estimates as sales soar again, helped by higher prices—Abercrombie & Fitch has been on a rollercoaster of growth over the last year and Wall Street will be keen to see if it can sustain the momentum.
- + Foot Locker shares fall after heavy promotions lead to holiday-quarter losses—Foot Locker reported earnings as CEO Mary Dillon leads the legacy retailer through an ambitious turnaround. But some analysts say it has gone too slow...
- + Nordstrom shares fall 10% as retailer warns of potential sales declines in 2024—The department store retailer said revenue for the year ahead will range from a 2% decline to a 1% gain compared with the previous year.
- + Target shares pop more than 12% as retailer boosts profits, despite lackluster sales forecast—Target grew profits even as sales stagnated, and said it plans to launch a new membership program.
- + Shares of Wilson tennis racket maker Amer Sports drop after first earnings report—Wilson tennis racket maker Amer Sports released its first earnings report since its IPO, saying its losses narrowed.
- + Shares of Wilson tennis racket maker Amer Sports drop nearly 10% after first earnings report—Wilson tennis racket maker Amer Sports released its first earnings report since its IPO, saying its losses narrowed.
- + Dodge Charger will live on as a new EV and a gas-powered muscle car—Dodge on Tuesday revealed the new Charger as an all-electric vehicle as well as a next-generation gas-powered muscle car.
- + Target launches paid membership program as it chases new revenue streams—Target is following the playbook of Amazon and Walmart, which already have similar programs.
- + Target shares pop more than 10% as retailer boosts profits, despite lackluster sales forecast—Target grew profits even as sales stagnated, and said it plans to launch a new membership program.
- + Delta is the latest airline to raise its checked bag fee—Delta said Tuesday it will be raising its checked bag fee by $5, following the price increases of American Airlines and United Airlines in the past tw...
- + Novo Nordisk's diabetes drug Ozempic slashed the risk of kidney disease progression in trial—The results add to the growing evidence that the highly popular injection has broader health benefits for patients beyond treating Type 2 diabetes.
- + Labor unions end proxy fight at Starbucks after bargaining progress—The two sides agreed last week to work toward a "foundational framework" on collective bargaining.
- + New CFPB rule caps banks' credit card late fees at $8—By cutting late fees to $8 from an average of around $32, more than 45 million card users would save an average of $220 annually, the CFPB said in a r...
- + Amer Sports losses narrow as China sales fuel holiday-quarter revenue growth—Wilson tennis racket maker Amer Sports released its first earnings report since its IPO, saying its losses narrowed.
- + Target shares pop as retailer boosts profits, despite lackluster sales forecast—Target grew profits even as sales stagnated, and said it plans to launch a new membership program.
- + Target will report its earnings before the bell. Here's what to expect—The big-box retailer has stressed lower prices and higher-frequency categories, such as groceries, as shoppers buy fewer discretionary items.
- + Some NYCB deposits may be a flight risk after Moody’s downgrades ratings again—Moody's slashed one of New York Community Bank's key ratings for the second time in a month.
- + American says 80% of 2024 revenue will come from loyalty program and more expensive tickets—The airline declined to provide profit or revenue forecasts for the first quarter or full year.
- + Tour this $24 million mansion in Delray Beach, Florida, where home prices have doubled—The mansion is located in Stone Creek Ranch, a gated community that's home to billionaire hedge fund manager Steven Cohen and NFL star Khalil Mack.
- + American orders 260 new planes, including Boeing Max 10s, and plans bigger first class—American's order includes 85 of Boeing's yet-to-be certified 737 Max 10 aircraft.
- + American says 80% of 2024 revenue will come from loyalty program members and premium cabins—The airline declined to provide profit or revenue forecasts for the first quarter or full year.
- + Ford sales jump 10.5% in February, led by gains in hybrids and EVs—Ford Motor's U.S. sales jumped 10.5% last month compared to February 2023, led by increases in its hybrid and all-electric vehicles sales.
- + Viking Therapeutics emerges as a strong weight loss drug player — or takeover target—Some Wall Street analysts said Viking's experimental obesity treatment may be "best-in-class" following the release of midstage trial data.
- + JetBlue, Spirit end $3.8 billion merger agreement after losing antitrust suit—JetBlue and Spirit Airlines had appealed a federal judge's decision to block their merger earlier in January.
- + IMAX 'ran out of seats' for 'Dune: Part Two' and Legendary Entertainment is interested in 'Part Three'—Denis Villeneuve's "Dune: Part Two" opened with an estimated $81.5 million at the box office, the highest of any film released so far in 2024.
- + Crowdfunding Hollywood: How studio Legion M taps fans-turned-investors to make movies—The studio has worked with a number of Hollywood stars and funded "This is Not Financial Advice," as well as the upcoming documentary "You Can Call Me...
- + Airlines Avelo and Breeze, three years after their pandemic debut, prepare for a profitable year—Avelo and Breeze, airlines that debuted in 2021, have launched dozens of routes across the U.S. in spots where there's less competition from large car...
- + Lockheed Martin looks to acquire spacecraft maker Terran Orbital for nearly $600 million—Lockheed Martin submitted a bid to acquire spacecraft manufacturer Terran Orbital, the defense giant revealed in a securities filing on Friday.
- + NASA shuts down $2 billion satellite refueling project after contractor Maxar is criticized for poor performance—NASA said it is shutting down a $2 billion project to test satellite refueling in space, after the lead contractor, Maxar, was cited for poor performa...
- + Boeing is in talks to buy back fuselage maker Spirit AeroSystems after spate of quality defects—Both companies have been scrambling to stamp out manufacturing flaws on Boeing's top-selling plane.
- + Judge rejects AstraZeneca’s challenge to Medicare drug price negotiations—U.S. District Judge Colm Connolly's decision comes one day before manufacturers have to respond to Medicare's initial price offers for their drugs.
- + CVS and Walgreens to start selling abortion pill mifepristone this month —CVS and Walgreens have received certification from the FDA to dispense the commonly used mifepristone at their retail pharmacies, spokespeople told CN...
- + Wall Street is worried about NYCB's loan losses and deposit levels as stock sinks below $4—NYCB restated recent quarterly earnings lower by $2.4 billion, formally replaced its CEO and delayed the release of a key annual report.
- + Major League Pickleball and PPA Tour complete long-awaited merger—The agreement comes after months of negotiations between the pickleball leagues as they join forces to determine the future of professional pickleball...
- + Yum China CEO says consumers are growing more 'rational' as rising costs cut dining budgets—Yum China CEO Joey Wat said the Chinese consumer has been growing more rational for years.
- + Medicaid challenges leave many Black Americans uninsured—In 2022, Black people were 1.5 times more likely to be uninsured than their white peers, according to a report from KFF.
- + Christie's just sold a Rothko painting for $100 million in a secret sale. Here are the details—The mysterious nature of the sale, with few publicly available details, highlights the rapid growth in recent years of private sales.
- + Newly listed Birkenstock beats revenue expectations on higher pricing, U.S. demand—Birkenstock reported its holiday quarter results Thursday after it posted a record-breaking end to its last fiscal year.
- + Best Buy warns of layoffs as it issues soft full-year guidance—Best Buy has been in a period of slower sales in part due to the strength of its sales during the pandemic.
- + Ford rolls out Tesla Supercharging for EVs. Here's what drivers need to know—Ford EV customers can reserve a free charging adapter through June 30, the company said. After that period, the cost will be $230.
- + 'Dune: Part Two' looks to end box office drought with $80 million opening—While Warner Bros. is projecting a conservative $65 million debut for "Dune: Part Two," box office analysts foresee a haul between $70 million and $80...
- + Pfizer RSV vaccine maintains protection in older adults over two seasons in trial—The results come ahead of a meeting of an advisory panel to the CDC, which will consider whether seniors should take RSV shots annually or every other...
- + Maserati reveals first GranCabrio convertible sports car since 2019—The sports car is based off the Maserati GranTurismo Trofeo sedan that's currently on sale starting at $190,000.
- + TJX tops earnings estimates but issues light guidance ahead of uncertain growth path—Off-price giant TJX Companies, which runs TJ Maxx, Marshall's and Homegoods, saw sales rise 13% during its holiday quarter.
- + Paramount falls short of revenue expectations but posts surprise profit, strong streaming results—Paramount+ reached 67.5 million subscribers during the period, a net increase of 4.1 million, and recorded 69% revenue growth year over year.
- + Novavax stock falls 20% as vaccine maker misses quarterly estimates, sees sluggish 2024 sales—Novavax narrowed its losses in the quarter compared to the same period a year ago, even as demand for Covid products continues to plummet worldwide.
- + Saudi sovereign wealth fund to partner with men's tennis tour—The PIF will become the official naming partner of the tennis tour's rankings and will partner with ATP events in cities including Miami, Madrid and B...
- + FAA gives Boeing 90 days to come up with quality control plan after 737 Max accident—The FAA said Boeing has 90 days to come up with a plan to improve quality control.
As of 3/18/24 10:55pm. Last new 3/18/24 2:30pm. Score: 173
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