Q4 earnings shaping up to be the best of 2023
Traders work on the floor at the New York Stock Exchange on Feb. 1, 2024. Brendan McDermid | Reuters Here’s how big of a surprise corporate profits have been this earnings season: The fourth quarter is now shaping up to be the best of 2023. Despite ongoing macroeconomic concerns that have hampered demand and weighed […]
Why Spectrum parent Charter’s stock just had the worst day in its history
Charter Communications Inc. shares suffered their worst one-day drop on record Friday as the company’s latest earnings illustrated continued pressures in the cable industry. The company reported a net loss of 61,000 broadband subscribers, whereas analysts were expecting slight positive growth even as management previously suggested net additions would be negative. Charter CHTR, -16.51% said […]
Spotify renews deal with podcaster Joe Rogan
Podcaster and comedian Joe Rogan. Vivian Zink | SYFY | NBCUniversal Spotify has signed a new blockbuster deal with polarizing podcaster and comedian Joe Rogan, but this time, his show won’t be exclusive to Spotify, the company announced Friday in a news release. The multiyear deal with Rogan, the founder of “The Joe Rogan Experience,” […]
Barington pushes Mattel to fix or sell off American Girl, Fisher-Price
The Mattel Inc. logo is displayed outside the headquarters of the toy company known for products including Barbie and Hot Wheels in El Segundo, California, on June 8, 2023. Patrick T. Fallon | AFP | Getty Images Activist investor Barington Capital is pushing Mattel to consider selling off its American Girl and Fisher-Price brands, citing […]
Meta’s stock is the most ‘overbought’ in 11 years, but that could be a good thing
There’s a common belief that “overbought” is a technical condition for a stock, but in practice it seems to be more of an ability. Meta Platforms Inc.’s stock META, +20.32% soared so much Friday after a blowout earnings report, that some technical readings have reached levels not seen in 11 years. The stock rocketed 20.9% […]
Manufacturing and construction sectors are hiring
Construction workers erect a building in downtown Miami, Florida, on June 14, 2023. Jim Watson | AFP | Getty Images At Ample’s manufacturing facilities in the Bay Area, employees work on the floor alongside robots, making battery packs and other parts for its EV battery swapping technology. The job is clean, high-tech and skilled – […]
What’s behind Cathie Wood’s ARK estimate for bitcoin to surge to $2.3 million
Cathie Wood’s ARK Investment Management estimates bitcoin prices could skyrocket to $2.3 million on the back of an “optimal allocation” to the crypto currency from a massive global investable asset base. ARK made that estimate in its latest annual research report on “big ideas,” which pegged the global investable asset base at $250 trillion. A […]
Carvana targets redemption after bankruptcy concerns, restructuring
A Carvana sign and signature vending machine in Tempe, Ariz. Michael Wayland/CNBC PHOENIX – As layoffs and cost cuts roil Wall Street, from retail and shipping to tech and media, embattled online used car sales giant Carvana says its own restructuring is in the rear view. Carvana over the last 18 months aggressively restructured its […]
Bristol Myers Squibb (BMY) Q4 earnings report 2023
Bristol Myers Squibb reported quarterly earnings and revenue that topped expectations on Friday as its portfolio of new drugs posted strong sales growth. Here’s what the company reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $1.70 […]
Opinion: Has ‘funding relief’ for private sector defined-benefit plans gone too far?
In doing background reading to figure out how many companies may follow IBM IBM, +1.76% and reopen a closed defined-benefit plan, commentators kept referring to “funding relief,” which combined with the improved funded status and derisking, has dramatically reduced the likelihood that a company would be forced to contribute to its plan. I had not […]
