Nike shares dive, company eyes $2 billion in cost cuts amid ‘softer’ outlook
Shares of Nike Inc. tumbled after hours Thursday after the athletic-gear giant warned of a “softer second-half revenue outlook” on its quarterly earnings call, and said it is targeting up to $2 billion in cost cuts over the next three years as it looks to shed management and focus on women customers and its Jordan […]
Nike (NKE) earnings Q2 2024
A customer enters a Nike store along the Magnificent Mile shopping district in Chicago on Dec. 21, 2022. Scott Olson | Getty Images Nike on Thursday unveiled plans to cut costs by about $2 billion over the next three years as it lowered its sales outlook. The stock fell about 10% after hours. Nike shares […]
Boeing hands over first 787 Dreamliner to China since 2019
The Boeing 787 Dreamliner sits on the tarmac at Boeing Field in Seattle, Washington. Robert Sorbo | Reuters Boeing on Thursday handed over a 787 Dreamliner directly to a Chinese airline for the first time since November 2019, a milestone that could open up the possibility of deliveries of the manufacturer’s cash cow, the 737 […]
Rudy-nomics: From $50 million to bankrtupcy, the financial fall of Rudy Giuliani
For a man who once parlayed his status as “America’s mayor” into an estimated $50 million fortune that consisted of a consulting business, major law firm and sprawling business interests, bankruptcy seemed an impossibility. Yet, that is where Rudy Giuliani found himself Thursday, filing for Chapter 11 in the face of a crushing legal loss […]
James Gorman talks Disney succession, proxy fight
Morgan Stanley CEO James Gorman said Thursday that he’s gearing up to join a succession planning committee at Disney, which will advise the board on choosing CEO Bob Iger’s successor. Gorman is set to step down as Morgan Stanley CEO Jan. 1. He will join Disney’s board in February. Disney announced last month that Gorman […]
Economy still appears headed for recession, U.S. leading index signals
The numbers: The leading economic index declined 0.5% in November and fell for the 20th month in a row, and continued to signal a recession ahead. Economists polled by the Wall Street Journal had forecast a 0.5% drop in the leading index, a gauge of 10 indicators designed to show whether the economy is getting better […]
Guilty plea in $100 million New Jersey deli stock fraud case
Your Hometown Deli in Paulsboro, N.J. Google Earth A North Carolina ex-convict pleaded guilty to securities fraud in connection with conspiring to manipulate the stock of a company that once had a market capitalization of as high as $100 million despite owning just one, small money-losing deli in southern New Jersey. The man, disgraced former […]
Should you get an SUV or a minivan? Here are the pros and cons of both.
It’s an age-old question that most parents will face at some point: SUV or minivan? Which vehicle works best for my growing family? Start this convo during moms’ night out, and it can get pretty polarizing. As a mom working in the automotive industry, I’ve had this conversation with fellow parents so many times, and […]
Citigroup to close global distressed-debt unit
A trader works underneath a monitor displaying Citigroup Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on June 3, 2016. Michael Nagle | Bloomberg | Getty Images Citigroup is shuttering another Wall Street business as CEO Jane Fraser pushes ahead with her overhaul of the bank, CNBC […]
Warner Bros., Paramount merger talks may draw out NBCUniversal
Let’s say you have a crush on two people and you find out one of them may like you back. Do you just start dating that person, or do you find out what the other person thinks, too? That’s where Warner Bros. Discovery finds itself today. The company has held preliminary merger talks with Paramount […]
