Opinion: How government meddling could end a golden age for life-changing new drugs
We’re in a golden age of medical discovery. Consider just a handful of new treatments approved in 2023: Perhaps the most revolutionary is a therapy for sickle-cell disease, an inherited blood disorder that causes extreme pain. The treatment is the first approved medicine based on CRISPR gene-editing technology. Other breakthroughs continue to proliferate at a […]
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 Images Spirit Airlines on Friday raised its financial forecast for the fourth quarter of 2023, sending shares soaring 17% after a rout earlier this week […]
Nelson Peltz outlines plans for Disney proxy battle
Activist investor Nelson Peltz. David A. Grogan | CNBC Disney 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, formerly known as Twitter, and add content to its website RestoreTheMagic.com as a crescendo to launching a […]
Macy’s to lay off 13% of corporate staff, close 5 stores as retail looks to tech
Department-store chain Macy’s Inc. plans to cut 2,350 jobs and close five stores, the Wall Street Journal reported on Thursday, as the company tries to curb expenses, embrace more technology and meet the demands of what it said was “an everchanging consumer and marketplace.” The cuts, which amount to around 13% of Macy’s M, +0.39% […]
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 Images Birkenstock shares slumped 7% Thursday after the company warned about its 2024 outlook during its first earnings report since its initial public offering. The […]
Costco is the latest company to crack down on freeloaders. Here’s why.
Is the freeloading era finally coming to a close? That’s what some are asking in light of the news that Costco COST, +0.46% is implementing policies that will make it harder for nonmembers to shop using someone else’s membership card. That follows efforts by streaming platforms such as Netflix NFLX, +1.04% to clamp down on […]
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 office and stores, company spokesman Chris Grams said. “As we prepare to deploy a […]
Wendy’s names Kirk Tanner new CEO
A ‘now hiring’ sign outside of a Wendy’s on October 08, 2021 in Miami, Florida. Joe Raedle | Getty Images Wendy’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 pressure from activist investors. Tanner is currently head […]
AMC snaps six-day losing streak and makes biggest gain in over a month
Shares of AMC Entertainment Holdings Inc. ended Thursday’s session up 7.8%, snapping their six-day losing streak. AMC’s stock also registered its largest single-day percentage gain since Dec. 4, 2023, when it rose 9.2%. Shares of the movie-theater chain and original meme-stock darling have hit a series of record lows recently and ended Wednesday’s session at […]
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 Chief Financial Officer Jay Rasulo to the media giant’s board of directors Thursday, made a list of initiatives and performance targets they’d pursue if elected. In a proxy filing, Peltz and Rasulo […]
