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 […]
Humana stock tumbles as Medicare Advantage growth disappoints
Humana Inc. shares HUM, -11.42% dropped 11% Thursday morning after the giant health insurer slashed its full-year 2023 earnings guidance and flagged rising medical costs and slower than expected 2024 Medicare Advantage enrollment growth. The company now expects to report full-year 2023 earnings per share of $20.00, down from its November guidance of at least […]
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 Alban | Reuters Holiday sales rose 3.8% year […]
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 Andrew Ross Sorkin on Wednesday in a CNBC […]
Richemont shares surge following boom in Cartier owner’s sales to China
Swiss watch seller Compagnie Financière Richemont on Thursday reported a sharp uptick in its revenues in the final three months of 2023, driven by surging jewelry sales in China and Japan which offset a drop in sales in Europe. The luxury goods conglomerate, which owns brands including Cartier and Net-A-Porter, posted a 8% uptick in […]
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 Images Drugmakers have been scrambling to join a two-horse race to lead the market for popular weight loss drugs, which could […]
Music publication Pitchfork is being merged with GQ magazine by Conde Nast
The iconoclastic online music publication Pitchfork, best known for its daily music criticism and its multiday festivals in Chicago and Paris, is being folded into the glossy monthly GQ, parent company Condé Nast announced Wednesday. Founded by a Minneapolis-area record-shop employee and based in Chicago for most of its 28-year history prior to its acquisition […]
Shein IPO: China launches security review
Clothes at the Shein headquarters in Singapore on June 19, 2023. Ore Huiying | Bloomberg | Getty Images China’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 offering, CNBC has learned. The Cyberspace Administration of China is reviewing Shein’s supply […]
Plug Power’s plan to sell stock is latest blow amid liquidity, supply challenges
Plug Power Inc. said Wednesday it could start to sell stock, and its shares were tumbling in late trading. The alternative-energy company has entered into an at-the-market issuance sales agreement with B. Riley Securities that will allow it to sell up to $1 billion in common stock, Plug Power PLUG, -10.03% said in an afternoon […]
Failed JetBlue buyout leaves Spirit Airlines with a tough path forward
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 Images Spirit Airlines is on shaky footing after JetBlue Airways‘ proposed $3.8 billion takeover of the budget carrier was blocked by a federal judge this […]
