Ford reports 7.1% increase in U.S. vehicle sales
2024 Ford F-150 PowerBoost Platinum hybrid Ford DETROIT – Ford Motor’s U.S. sales increased about 7% last year, marking the automaker’s best sales since 2020 but coming in lower than the overall industry’s growth. Ford on Thursday reported sales of nearly 2 million vehicles in 2023, a 7.1% increase from the previous year. The company […]
Peloton partners with TikTok, and shares race 14% higher
Peloton Interactive Inc. shares surged Thursday after the connected-exercise platform announced an exclusive partnership with TikTok. The deal will create a dedicated Peloton hub on the video-based social network with custom Peloton content, the companies said in a joint statement. TikTok users will be able to access live Peloton classes, instructor series, celebrity collaborations and […]
Online holiday spending rises to new record, Adobe Analytics says
A UPS worker sorts packages in New York on Dec. 18, 2017. Adam Jeffery | CNBC Online spending rose 4.9% year over year, setting a record for e-commerce during the holiday season, as shoppers pounced on discounts and leaned on buy now, pay later to cover more of their purchases, according to Adobe Analytics. Sales […]
Verizon’s problems ‘aren’t just narrative’ — but here’s the stock’s bull case
“The problems aren’t just narrative” when it comes to Verizon Communications Inc., according to Wolfe Research analyst Peter Supino. Yet he upgraded the stock to outperform from peer perform late Wednesday, writing that he and his team “really like” the risk-reward balance. Supino acknowledged that telecommunications investors have enjoyed a rough ride recently: “In 2023, […]
Walgreens (WBA) earnings Q1 2024
Shares of Walgreens closed 5% lower on Thursday after the company reported fiscal first-quarter adjusted earnings and revenue that topped expectations, but cut its quarterly dividend nearly in half. The retail pharmacy giant slashed its dividend to 25 cents per share from 48 cents per share to “strengthen [its] long-term balance sheet and cash position,” CEO […]
U.S. stocks pare gains as Nasdaq struggles to snap four-day losing streak
U.S. stocks were mostly higher on Thursday before trimming some earlier gains in midday trading as the S&P 500 headed for its first green session of 2024. Meanwhile, the technology-heavy Nasdaq Composite struggled to snap a four-day losing streak after kicking off the new year with a rough start. How are stocks trading The S&P […]
NCAA and ESPN ink 8-year, $920 million media rights deal
An ESPN GameDay logo is displayed at the Capital One Orange Bowl game between the Georgia Bulldogs and the Florida State Seminoles at the Hard Rock Stadium in Miami Gardens, Florida, on Dec. 30, 2023. Peter Joneleit | Icon Sportswire | Getty Images The NCAA and ESPN have reached a new eight-year media rights deal […]
Peloton partners with TikTok on classes, content
Peloton has launched a partnership with TikTok. Courtesy of: Peloton Peloton launched a partnership with TikTok on Thursday as part of its strategy to change its public perception and attract a broader array of customers as sales and profits fall. The partnership will create a new fitness hub on the social media platform dubbed “#TikTokFitness […]
Mobileye’s stock melts down as inventory issues prompt grim revenue warning
Shares of Mobileye Global Inc. were tanking in Thursday’s premarket action after the company, which makes self-driving technology, issued a revenue warning as its customers deal with excess inventory. Mobileye MBLY, -3.92% expects first-quarter revenue to fall about 50% from the $458 million that it reported in the year-earlier period. Analysts tracked by FactSet had […]
‘He broke down in tears’: I gave my contractor $100,000, but he used it to pay off his debts. What chance do I have of getting my money back?
I’m in a home-renovation nightmare. My interior designer accepted $100,000 in payments for appliances, cabinets, flooring, fixtures and hardware but never paid the vendors for those items. When I confronted him, he broke down in tears and confessed that he needed to use the money for other business expenses. Meanwhile, my project is at a […]
