Costco (COST) earnings Q4 2023
Costco on Tuesday reported quarterly earnings that topped Wall Street’s expectations, as shoppers turned to the membership club for groceries but bought fewer big-ticket items. On an earnings call, Chief Financial Officer Richard Galanti said shoppers made more trips to the retailer’s stores, even as they spent less. He said sales of pricier items in […]
Biden, Trump seek blue-collar votes in Michigan
DETROIT – Strikes by the United Auto Workers union against General Motors, Ford Motor and Stellantis will get the presidential treatment this week in Michigan. Twice, in fact. President Joe Biden visited a picket line Tuesday at a GM parts facility in Belleville following a public invitation Friday from UAW President Shawn Fain, who joined […]
Amazon sued by FTC, which alleges the company is ‘exploiting its monopoly power’
The Federal Trade Commission filed an antitrust lawsuit against Amazon.com Inc. Tuesday, the highest-profile case yet in the agency’s attempt to rein in Big Tech. “Our complaint lays out how Amazon has used a set of punitive and coercive tactics to unlawfully maintain its monopolies,” FTC Chair Lina Khan said in a statement. The agency […]
Amazon sued by FTC, which alleges the company is ‘exploiting its monopoly power’
The Federal Trade Commission filed an antitrust lawsuit against Amazon.com Inc. Tuesday, the highest-profile case yet in the agency’s attempt to rein in Big Tech. “Our complaint lays out how Amazon has used a set of punitive and coercive tactics to unlawfully maintain its monopolies,” FTC Chair Lina Khan said in a statement. The agency […]
UPS to hire 100,000 holiday workers with Teamsters pay bump
A UPS worker sorts packages in New York on Dec. 18, 2017. Adam Jeffery | CNBC UPS plans to hire more than 100,000 seasonal workers again this year to support the holiday shipping rush, the company announced Tuesday in a press release. This year, though, they’ll be starting with a higher pay. As a result […]
United Natural Foods’ stock tanks after company swings to loss amid lower inflation benefits
United Natural Foods Inc.’s stock tumbled 16.5% Tuesday, after the grocery wholesaler swung to a fiscal fourth-quarter loss and posted sales that lagged estimates, while warning of continued weakness in 2024. The Providence, Rhode Island-based company UNFI, -17.55% had a net loss of $68 million, or $1.15 a share, for the quarter to July 29, […]
Merck Covid drug linked to virus mutations, study says
A worker holds a bottle of Merck & Co.’s molnupiravir antiviral medication in a warehouse in Shoham, Israel, on Jan. 18, 2022. Bloomberg | Bloomberg | Getty Images A new study released Monday said Merck‘s widely used antiviral Covid pill can cause mutations in the virus that occasionally spread to other people, raising questions about […]
S&P 500 futures slide as Treasury yields hit fresh 16-year highs
U.S. stock futures fell early Tuesday as Treasury yields hit fresh cycle highs and Chinas’ property woes rattled global sentiment. How are stock-index futures trading S&P 500 futures ES00, -0.46% dipped 26 points, or 0.6% to 4353 Dow Jones Industrial Average futures DJIA fell 181 points, or 0.5% to 34092 Nasdaq 100 futures NQ00, -0.55% […]
Pfizer restarts production at tornado damaged plant in North Carolina
In this aerial image, damage is seen at a Pfizer pharmaceutical factory after a tornado hit the facility two days earlier, in Rocky Mount, North Carolina, July 21, 2023. Sean Rayford | Getty Images Pfizer on Monday said it has restarted most production lines at a drug manufacturing plant that was severely damaged by a […]
Movie theater shares pop on tentative WGA labor deal
The AMC 25 and Regal Cinemas on 42nd Street in Times Square, New York. Richard Levine | Corbis | Getty Images Movie theater shares popped Monday following news of a tentative labor deal between the Writers Guild of America and the Alliance of Motion Picture and Television Producers. “The world’s movie theatres can celebrate. Extremely […]
