Gap upgraded to overweight at Wells Fargo on cost controls and new management
Wells Fargo & Co. analyst Ike Boruchow upgraded Gap Inc. on Wednesday to overweight from equal weight and hiked the clothing retailer’s price target to $16 from $11 a share with a potential “turnaround story gaining traction.” The Gap’s stock GPS, +4.81% was up 2.7% in premarket trading on Wednesday. “The setup at GPS has […]
Spotify (SPOT) earnings Q3 2023
Spotify shares closed 10% higher on Tuesday after the company reported a surprise profit for the third quarter — its first quarterly profit in a year and a half — as price increases and cost-cutting measures took hold. The company’s stock has more than doubled so far this year, giving it a market value of […]
Louisiana Rep. Mike Johnson nominated for speaker by House Republicans
House Republicans on Tuesday night voted for Rep. Mike Johnson to become their latest nominee for speaker of the U.S. House of Representatives, with the Louisiana congressman’s selection capping a tumultuous day in which Rep. Tom Emmer was briefly the nominee. Johnson, vice chair of the House Republican Conference, picked up support in two rounds […]
Nikola NKLA Trevor Milton damages
Nikola’s founder and former CEO, Trevor Milton, was found guilty on three counts of fraud in October 2022. Massimo Pinca | Reuters Shares of electric truck maker Nikola traded higher Tuesday after the company said in a regulatory filing that its disgraced founder, Trevor Milton, has been ordered to pay the company about $165 million […]
My husband and I divorced. He sold our home. What can I do to get my fair share?
Dear Quentin, My husband and I were married for 17 years. We divorced 5 years ago. While we were married we had a home built, and we lived in the home until we separated. When we bought the house, we were advised to only put my husband’s name on the loan, because I had already […]
Anheuser-Busch and UFC strike partnership amid Bud Light slump
Bud Light, made by Anheuser-Busch, sits on a store shelf in Miami on July 27, 2023. Joe Raedle | Getty Images Anheuser-Busch InBev’s Bud Light will again become the official beer sponsor for the Ultimate Fighting Championship with a six-year marketing partnership, the companies announced Tuesday. The sponsorship deal is “well into the nine figures,” […]
Visa’s stock up 2% on earnings beat; card giant says consumers are ‘resilient’
Visa Inc.’s shares rose 2% in the extended session Tuesday after the company reported quarterly results that topped Wall Street views, saying consumer spending was “resilient.” The company posted fiscal fourth-quarter net income of $4.7 billion, or $2.27 a share, compared with $3.9 billion, or $1.86 a share, in the year-earlier period. Visa V, +1.35% […]
Inaugural Vulcan rocket launch slated for Christmas Eve
United Launch Alliance plans to launch the inaugural flight of its Vulcan rocket on Christmas Eve, CEO Tory Bruno told CNBC’s Morgan Brennan on Tuesday. Bruno, speaking at the CNBC Technology Executive Council Summit, said the target window for Vulcan’s first launch runs from Dec. 24 through Dec. 26. The rocket will lift off from […]
UAW expands strike to crucial GM SUV plant in Texas
DETROIT – The United Auto Workers union on Tuesday expanded its strike against General Motors to a highly profitable full-size SUV plant in Texas — a swift response to healthy profits and record third-quarter revenue for the automaker. The Tuesday strike escalation includes roughly 5,000 workers at GM’s Arlington Assembly plant, which produces the Cadillac […]
Barclays drags down U.K. bank stocks after warning on net interest margins
Barclays led U.K. banking stocks lower on Tuesday, after the London-listed lender posted a sharp fall in third-quarter profits and warned that a strategic review would lead to large cost cuts. A weak performance by the investment banking division, relative to Wall Street peers, and narrowing profit margins at the U.K. consumer-focused operations saw group […]
