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 | CNBC Airfare 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 month for travel as customers take fewer […]
Was Lyft stock’s bonkers after-hours rally due to mistake in earnings release?
When Lyft Inc. put out its earnings release Tuesday afternoon, the ride-hailing platform forecast a gain this year in an adjusted profit metric. But during the company’s earnings call later in the day, management issued a correction, saying that increase was, in fact, smaller than what it said the first time around. Shares, in the […]
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 better working conditions as their contract negotiations continue. (Photo by Scott Olson/Getty Images) Scott Olson | Getty Images […]
Defense stocks boosted as Senate OKs Ukraine aid, House may pass ‘some’ of it
While defense stocks joined in on Tuesday’s broad market sell-off sparked by a hotter-than-expected reading on inflation, that’s after several sessions of gains that came as the U.S. Senate made progress on approving a $95 billion aid package for Ukraine, Israel and other allies. One fund focused on the defense sector — the SPDR S&P Aerospace & […]
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 Images A federal judge on Monday dismissed a lawsuit brought by a major pharmaceutical industry lobbying group and two other organizations that challenged […]
Opinion: Do Trump’s NATO comments pose a risk for international stocks — and your 401(k)?
Whether you know it or not, if you have a 401(k) or other retirement account there’s a good chance a chunk of your savings is tied up in Europe. That’s because European stock markets, from Portugal to Poland, make up about two-thirds of the main international stock index, known as EAFE. U.S. savers have nearly […]
Paramount Global lays off 800 employees after record Super Bowl ratings
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 | Reuters Paramount Global is laying off hundreds of employees, just one day after the company announced CBS had record Super Bowl viewership, Chief Executive Officer Bob Bakish said Tuesday […]
Chrysler unveils Halcyon EV concept car
The Chrysler Halcyon concept car. Stellantis DETROIT — 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 car is a sleek, future-looking sports car that’s designed to incorporate […]
Hedge fund snaps up stake in Love Island maker ITV
A hedge fund has bought a 5% stake in the U.K.’s largest commercial television broadcaster ITV, as the broadcaster struggles against a slump in the advertising market that has pummeled its share price in recent years. Silchester International Investors LLP, whose offices sit at the heart of Mayfair, just minutes from both Berkeley Square and […]
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 | CNBC Activist investor Carl Icahn on Monday reported a nearly 10% stake in JetBlue Airways, saying the airline stock is undervalued. Shares of JetBlue spiked more than 15% in extended trading. Icahn amassed the stake in […]
