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   NEWS: CNBC BUSINESS
CNBC Business
Feb 21, 2024

Beyond Meat launches new, healthier version of burger in bid to bring back customers
Beyond Meat's move comes as retail sales of meat alternatives have fallen 33.6% compared with a year ago, according to Circana data.

CNBC Business
Feb 20, 2024

FuboTV sues Disney, Fox, Warner Bros. over sports joint venture
FuboTV cited what it calls "extreme suppression of competition in the U.S. sports-focused streaming market."

CNBC Business
Feb 20, 2024

Lunar company Intuitive Machines' stock surges 50% to trade above SPAC debut price
Shares of Intuitive Machines jumped for a third consecutive trading session as the company's first moon mission completed further milestones.

CNBC Business
Feb 20, 2024

AbbVie taps longtime executive Robert Michael as new CEO, succeeding Richard Gonzalez
Michael, who is AbbVie's chief operating officer, will become the company's second-ever CEO since the company spun out from Abbott Laboratories in 2013.

CNBC Business
Feb 20, 2024

Activist Arkhouse launches proxy fight at Macy's, nominates nine directors
Arkhouse has launched a proxy fight at department store Macy's, nominating nine directors following a rejected take-private bid.

CNBC Business
Feb 20, 2024

Labor coalition accuses Starbucks of 'flawed' union strategy, risking shareholder value
The SOC is pushing to replace three members of the Starbucks board, claiming the reputational risk of the union fight has hurt shareholder value.

CNBC Business
Feb 20, 2024

American Airlines raises bag fees, won't allow some travel agency bookings to earn miles
American Airlines will start charging travelers $40 for a checked bag at the airport and $35 if purchased online.

CNBC Business
Feb 20, 2024

Walmart to buy TV maker Vizio for $2.3 billion in move to grow its ad business
Walmart touted the ability to grow its ad business through a Vizio TV platform that allows users to watch free ad-supported content.

CNBC Business
Feb 20, 2024

Walmart beats Wall Street's holiday expectations as e-commerce sales soar
Walmart beat holiday-quarter earnings expectations and said it would buy smart TV maker Vizio.

CNBC Business
Feb 20, 2024

Walmart beats Wall Street's holiday expectations, as e-commerce sales soar
Walmart has attracted value-driven customers, but warned of the risk of deflation.

CNBC Business
Feb 20, 2024

Home Depot beats earnings, sales estimates even as consumers take on smaller home improvement projects
Home Depot has seen sales slow as consumers buy fewer big-ticket items and spend on experiences instead of goods.

CNBC Business
Feb 20, 2024

Walmart will report earnings before the bell. Here's what to expect
Walmart has attracted value-driven customers, but warned of the risk of deflation.

CNBC Business
Feb 19, 2024

Disney star turned space CEO: Bridgit Mendler launches satellite data startup backed by major VCs
Already, Northwood is attracting high-profile venture investors, with about $6 million in initial funding raised from investors including Andreessen Horowitz.

CNBC Business
Feb 18, 2024

Companies — profitable or not — make 2024 the year of cost cuts
The largest U.S. companies are cutting jobs and reducing expenses as Americans pull back after a period of aggressive inflation.

CNBC Business
Feb 16, 2024

Carl Icahn wins seats on JetBlue board after taking stake in airline
Carl Icahn won two board seats at JetBlue Airways, days after disclosing a nearly 10% in the carrier and talks for board representation.

CNBC Business
Feb 16, 2024

Intuitive Machines stock jumps after company says moon mission is in 'excellent health'
Shares of Intuitive Machines jumped for a second consecutive day after the company issued an update that its moon lander mission "is in excellent health."

CNBC Business
Feb 16, 2024

Shopping online at 2 a.m.? That's a red flag for buy now, pay later lender Affirm
Affirm, run by PayPal co-founder Max Levchin, is among a new breed of fintech lenders competing against credit cards issued by banks.

CNBC Business
Feb 16, 2024

UAW threatens to strike Ford truck plant in Kentucky if local issues aren't resolved
The union said "core issues" at the plant include health and safety as well as "Ford's continued attempts to erode the skilled trades at Kentucky Truck Plant."

CNBC Business
Feb 16, 2024

Mortgage rates shoot to 2-month high after new report shows inflation is still hot
The average rate on the 30-year fixed mortgage jumped to 7.14%, according to Mortgage News Daily. That is the highest level in two months.

CNBC Business
Feb 16, 2024

Intuitive Machines stock jumps 16% after company says moon mission is in 'excellent health'
Shares of Intuitive Machines jumped for a second consecutive day after the company issued an update that its moon lander mission "is in excellent health."

CNBC Business
Feb 16, 2024

Family offices are going on the offensive, trading cash for alternative assets
Their favorite alternatives include private credit, infrastructure, private equity and commodities.

CNBC Business
Feb 16, 2024

Nike to lay off 2% of employees, cutting more than 1,500 jobs during broad restructuring
Nike is cutting 2% of its current workforce, or more than 1,500 jobs, as it looks to redeploy its resources amid a broad restructuring.

CNBC Business
Feb 16, 2024

What will retail look like in five years? Top industry executives share their predictions
CNBC spoke with a dozen of the retail industry's top executives and leaders to get a sense of what's next for the retail industry.

CNBC Business
Feb 16, 2024

Starbucks has a new accessible store design. Take a look inside
Changes include tweaks to the cafe's lighting and acoustics, as well as lower counters.

CNBC Business
Feb 15, 2024

DraftKings posts 44% revenue growth and narrowing losses, but falls short of estimates
DraftKings missed Wall Street's expectations on Thursday after the bell but increased its year-over-year revenue by 44%.

CNBC Business
Feb 15, 2024

Shake Shack stock surges 26% on fourth-quarter profit, strong 2024 outlook
For 2024, Shake Shack expects to grow total revenue by 11% to 15% and open 80 new restaurants.

CNBC Business
Feb 15, 2024

Intuitive Machines stock spikes 35% as company's first moon mission starts
The company went public via a SPAC merger last year and, despite nearly doubling so far this year, trades at about half the stock's debut price.

CNBC Business
Feb 15, 2024

Wells Fargo says regulator has lifted a key penalty tied to its 2016 fake accounts scandal
The Office of the Comptroller of the Currency terminated a consent order that forced it to revamp how it sells its retail products and services.

CNBC Business
Feb 15, 2024

Wells Fargo says regulators have lifted a key penalty tied to its 2016 fake accounts scandal
The Office of the Comptroller of the Currency terminated a consent order that forced it to revamp how it sells its retail products and services.

CNBC Business
Feb 15, 2024

Younger generations have gained more wealth than other age groups since 2019, study says
The biggest driver of the wealth gains for younger generations was stocks, according to the study.

CNBC Business
Feb 15, 2024

Intuitive Machines stock spikes 30% as company's first moon mission starts
The company went public via a SPAC merger last year and, despite nearly doubling so far this year, trades at about half the stock's debut price.

CNBC Business
Feb 15, 2024

Ford CEO tells Wall Street to forget Tesla, says 'Pro' business is the future of the auto industry
Ford Pro is made up of the automaker's traditional fleet and commercial businesses as well as emerging telematics, logistics and other connective operations.

CNBC Business
Feb 15, 2024

Intuitive Machines stock spikes as lunar company's first moon mission begins
The company went public via a SPAC merger last year and, despite nearly doubling so far this year, trades at about half the stock's debut price.

CNBC Business
Feb 15, 2024

Shake Shack stock surges 20% on fourth-quarter profit, strong 2024 outlook
For 2024, Shake Shack expects to grow total revenue by 11% to 15% and open 80 new restaurants.

CNBC Business
Feb 15, 2024

True Religion explores a sale as maximalist, Y2K-era styles make a comeback
Jeans brand True Religion, known for its stitching and horseshoe logo, is exploring a sale after returning to growth and profitability.

CNBC Business
Feb 15, 2024

Moon company Intuitive Machines begins first mission after SpaceX launch
If fully successful, the IM-1 cargo mission would be the first U.S. lunar landing in more than 50 years.

CNBC Business
Feb 15, 2024

Pay TV distributors may be planning their attack against new sports joint venture
The key question for pay TV distributors such as Comcast, Charter and DirecTV is whether they'll be able to offer the same sports bundle as the joint venture.

CNBC Business
Feb 14, 2024

After 8 months stuck in orbit, Varda's drug spacecraft gets FAA approval to return
Space startup Varda received long-awaited approval from the Federal Aviation Administration on Wednesday to return its first spacecraft.

CNBC Business
Feb 14, 2024

Biden administration examining role of supply chain middlemen in generic drug shortages
The FTC and HHS are seeking public comment on the contracting practices and market concentration of group purchasing organizations and drug wholesalers.

CNBC Business
Feb 14, 2024

Phoenix Suns owner Mat Ishbia forms new investment group called Player 15
Player 15 will house the Phoenix Suns, the Phoenix Mercury and the newly acquired G-League team for the Suns, as well as operations of the Footprint Center.

CNBC Business
Feb 14, 2024

Done with diamonds? Gemstone engagement rings are capturing hearts and market share
A decade ago, about 5% of engagement rings were colored gemstones. Now, it's more than 15%.

CNBC Business
Feb 14, 2024

'Anyone But You' could spark a rom-com renaissance in Hollywood
"Anyone But You" proves that romantic comedies still have a space in theaters and audiences will turn up for them.

CNBC Business
Feb 13, 2024

Pilots got their payday. Now flights attendants are pushing airlines for higher wages
Flight attendants picketed around the U.S. Tuesday to demand higher pay and better working conditions.

CNBC Business
Feb 13, 2024

Airfare is down, but here's why that may not last for long
Airfare fell 6.4% in January from a year earlier, according to the latest inflation report.

CNBC Business
Feb 13, 2024

Molson Coors looks to lock in market share gains as consumers shift away from Bud Light
Molson Coors gained market share after the Bud Light boycott last year. Now executives believe they can maintain the growth they've seen in the past year.

CNBC Business
Feb 13, 2024

ESPN Bet plans launch in New York, the largest U.S. betting market
Penn Entertainment is buying market access to New York from Wynn Interactive that would allow it to launch in the nation's largest sports betting market.

CNBC Business
Feb 13, 2024

Healthy Returns: Higher medical costs are pinching insurers
CVS, Humana and other insurers are getting dogged by higher medical costs. Meanwhile, 23andMe has a tough road ahead.

CNBC Business
Feb 13, 2024

Federal judge tosses lobbying group's lawsuit challenging Medicare drug price negotiations
The decision is an early win for the Biden administration as it grapples with other legal challenges to the Inflation Reduction Act's Medicare price talks.

CNBC Business
Feb 13, 2024

Coca-Cola CEO says inflation is moderating in most markets after higher prices boost revenue
In the majority of Coke's markets, shoppers were only paying about 3.5% more for their drinks than they were a year earlier.

CNBC Business
Feb 13, 2024

Boeing orders, deliveries dry up in January as plane-maker grapples with latest Max crisis
Boeing delivered 27 planes and had net zero orders for new aircraft in January.

CNBC Business
Feb 13, 2024

As online romance scams rise, banks ask for help to save victims billions
Romance scams are run by organized criminal gangs that set up phony social media avatars and use those to connect to potential American victims.

CNBC Business
Feb 13, 2024

JetBlue shares jump after activist Carl Icahn reports stake and calls shares undervalued
JetBlue has been cutting costs in an effort to return to profitability after a post-Covid travel surge and a blocked merger with budget carrier Spirit Airlines.

CNBC Business
Feb 13, 2024

Hasbro reports 20% revenue drop, issues downbeat 2024 outlook
Hasbro now expects to cut $750 million in costs by the end of 2025, up from a previous target of $350 million to $400 million.

CNBC Business
Feb 13, 2024

How satellite connectivity startup Skylo hooked backers such as Intel, BMW and Samsung to raise $37 million
Silicon Valley space startup Skylo Technologies raised $37 million through an equity round led by Intel Capital and Innovation Endeavors.

CNBC Business
Feb 13, 2024

Paramount Global lays off about 800 employees, a day after announcing record Super Bowl ratings
Paramount Global CEO Bob Bakish announced the company will lay off hundreds of employees Tuesday, just a day after CBS announced Super Bowl viewing records.

CNBC Business
Feb 13, 2024

K2 Space, a startup with SpaceX veterans building monster satellites, raises $50 million
Los Angeles-based startup K2 Space expects to launch its first Mega satellite on a demonstration mission later this year.

CNBC Business
Feb 13, 2024

Hasbro stock plunges after revenue drop, downbeat outlook
Hasbro now expects to cut $750 million in costs by the end of 2025, up from a previous target of $350 million to $400 million.

CNBC Business
Feb 13, 2024

Biogen revenue and profit shrink on Aduhelm costs, slumping sales of multiple sclerosis therapies
The results come amid the rollout of Biogen and Eisai's Leqembi, the first drug found to slow the progression of Alzheimer's to win FDA approval.

CNBC Business
Feb 13, 2024

Coca-Cola sales beat estimates, helped by higher prices
Coca-Cola sales rose as higher prices helped the beverage giant overcome lower volume in North America.

CNBC Business
Feb 13, 2024

Restaurant Brands earnings beat estimates, fueled by strong Tim Hortons sales
Restaurant Brands earnings beat expectations as Tim Hortons performed better than expected.

CNBC Business
Feb 13, 2024

Super Bowl 58 was most-watched television show ever with 123 million viewers
Sunday's big game featured two of the best teams in the NFL, a halftime show from Usher, wacky commercials and, of course, a very public love story.

CNBC Business
Feb 13, 2024

Chrysler reveals new Halcyon concept car as direction for future EVs
The concept car is a sleek, future-looking sports car that's designed to incorporate emerging technologies such as autonomous driving and new EV capabilities.

CNBC Business
Feb 12, 2024

Tiger Woods signs apparel and footwear deal with TaylorMade following his split with Nike
Woods' relationship with TaylorMade dates back to a 2017 equipment deal that has him playing with the brand's driver, fairway woods, irons and wedges.

CNBC Business
Feb 12, 2024

JetBlue shares jump 15% as activist Carl Icahn reports stake and calls shares undervalued
JetBlue has been cutting costs in an effort to return to profitability after a post-Covid travel surge and a blocked merger with budget carrier Spirit Airlines.

CNBC Business
Feb 12, 2024

JetBlue resets with new CEO, industry veterans to run airline on time, and profitably
JetBlue is struggling with reliability and controlling costs. Its new CEO and veteran executives are hoping to get back to basics.

CNBC Business
Feb 12, 2024

Jeff Bezos will save over $600 million in taxes by moving to Miami
Bezos plans to unload 50 million shares of Amazon before Jan. 31, 2025. Posting those sales in Florida will save him millions.

CNBC Business
Feb 11, 2024

Travelers ride the rails to save money (and the planet) as Amtrak chases pre-Covid ridership
As domestic travel rebounds from pandemic lows and prices soar, some travelers opting for trains over planes.

CNBC Business
Feb 10, 2024

The most expensive home for sale in the U.S. goes up for $295 million in Naples, Florida
The mega-listing includes a main house that spans about 11,500 square feet on a private peninsula.

CNBC Business
Feb 10, 2024

Weight loss drugs are still hard to find — but Novo Nordisk and Eli Lilly are trying to change that
Novo Nordisk and Eli Lilly have given positive supply updates, aiming to reassure investors that they can continue to capitalize on the success of their drugs.

CNBC Business
Feb 09, 2024

Temu returns to Super Bowl ad slate as lawmaker ire swells
Temu, the controversial Chinese retailer, skyrocketed to prominence last year after it ran a Super Bowl ad that invited customers to shop "like a billionaire."

CNBC Business
Feb 09, 2024

Big banks have drastically cut overdraft fees, but customers still paid $2.2 billion last year
Overdraft revenue is on the decline, but recent filings show that JPMorgan Chase and Wells Fargo remain by far the largest generators of the controversial fees.

CNBC Business
Feb 09, 2024

PepsiCo earnings top estimates, but quarterly revenue slides for the first time in nearly four years
PepsiCo's revenue fell 0.5% in the fourth quarter, as it saw slower demand in North America.

CNBC Business
Feb 09, 2024

YouTube stars help NFL bring in more viewers, league says
Enlisting some of YouTube's top creators to promote NFL Sunday Ticket helped drive engagement among tens of millions of users, the league said.

CNBC Business
Feb 09, 2024

PepsiCo earnings top estimates, but quarterly revenue slides
PepsiCo's revenue fell 0.5% in the fourth quarter.

CNBC Business
Feb 08, 2024

Wall Street is overreacting to new sports joint venture, says EW Scripps CEO
Investors are miscalculating the bundle's popularity and incorrectly pricing in that local stations won't be included, EW Scripps CEO Adam Symson told CNBC.

CNBC Business
Feb 08, 2024

Hawaiian Airlines debuts free inflight Wi-Fi from SpaceX's Starlink
Hawaiian Airlines is the first major U.S. airline to offer the satellite-based service.

CNBC Business
Feb 08, 2024

J&J, Merck and Bristol Myers CEOs defend high drug prices in Senate hearing, as Biden tries to cut costs
The push to cut drug prices is one of those rare hot-button issues that unites the two major political parties.

CNBC Business
Feb 08, 2024

Delta to open a new tier of 'premium' airport lounges this year in high-end travel push
Delta will join American and United in offering a top-tier lounge separate from it's regular club network.

CNBC Business
Feb 08, 2024

New Kia Carnival minivan will be offered as a hybrid and maintain its SUV design
Kia is adding a hybrid model to its Carnival minivan to meet increasing consumer demand for the technology and assist in meeting federal fuel economy standards.

CNBC Business
Feb 08, 2024

Spirit Airlines says it's on the path back to profitability, with or without JetBlue
Spirit Airlines and JetBlue are appealing a federal judge's decision to block their planned merger.

CNBC Business
Feb 08, 2024

Senators grill Merck, J&J and Bristol Myers Squibb CEOs over high U.S. drug pricing
The push to cut drug prices is one of those rare hot-button issues that unites the two major political parties.

CNBC Business
Feb 08, 2024

Under Armour shares jump after it raises profit expectations amid sliding sales
Under Armour delivered a mixed set of results for its 2023 holiday quarter after it saw slow sales in its wholesale channel and soft demand in North America.

CNBC Business
Feb 08, 2024

Spirit Airlines narrows loss to $184 million, says it's on the path back to profitability
Spirit Airlines and JetBlue are appealing a federal judge's decision to block their planned merger.

CNBC Business
Feb 07, 2024

Wall Street loves Disney's kitchen-sink quarter, but Nelson Peltz says he isn't backing down
Disney shares jumped after announcements meant to excite investors while activist investor Nelson Peltz tells CNBC he is pushing forward with a proxy fight.

CNBC Business
Feb 07, 2024

ESPN will launch its own streaming service in fall 2025, alongside joint venture
In a long anticipated announcement, ESPN has set the date for the launch of its flagship direct-to-consumer streaming service for the fall of 2025.

CNBC Business
Feb 07, 2024

Warner Music to cut 600 jobs, or 10% of staff
Warner Music is cutting 10% of its workforce in a plan to restructure the company.

CNBC Business
Feb 07, 2024

Disney is releasing a 'Moana' sequel in theaters this Thanksgiving
A "Moana" sequel will be released in theaters this Thanksgiving, Disney announced during its earnings call Wednesday.

CNBC Business
Feb 07, 2024

NYCB woes reignite fears about shaky banks as anniversary of March crisis nears
Investors have worried that commercial real estate losses could trigger more turmoil after deposit runs consumed Silicon Valley Bank and Signature last March.

CNBC Business
Feb 07, 2024

Taylor Swift Eras Tour film to stream exclusively on Disney starting March 15
The Eras Tour concert film is a major addition for Disney's streaming service Disney , as it was a box office hit.

CNBC Business
Feb 07, 2024

Disney beats earnings estimates, hikes guidance as it slashes streaming losses
Disney reported earnings after the bell. Here are the results.

CNBC Business
Feb 07, 2024

NYCB names new chairman after Moody's downgrades bank's credit rating to junk
NYCB has been in free fall since reporting a surprise loss last week, along with mounting losses on commercial real estate and the need to slash its dividend.

CNBC Business
Feb 07, 2024

New sports streaming bundle could be a 'monster' — or a dud. Here are the biggest remaining questions
Disney, Warner Bros. Discovery and Fox are launching a joint sports streaming platform, but it remains to be seen how appealing it is to consumers.

CNBC Business
Feb 07, 2024

ESPN will launch its flagship direct-to-consumer service in the fall of 2025
In a long anticipated announcement, ESPN has set the date for the launch of its flagship direct-to-consumer streaming service for the fall of 2025.

CNBC Business
Feb 07, 2024

Disney to take $1.5 billion stake in Epic Games, work with Fortnite maker on new content
Disney is investing $1.5 billion for an equity stake in Epic Games.

CNBC Business
Feb 07, 2024

NYCB shares whipsaw after bank picks new chairman, Moody's downgrades bank's credit to junk
NYCB has been in free fall since reporting a surprise loss last week, along with mounting losses on commercial real estate and the need to slash its dividend.

CNBC Business
Feb 07, 2024

Disney is set to report earnings after the bell. Here's what to expect
Investors are looking for updates on Disney CEO Bob Iger's strategy for the slumping media giant.

CNBC Business
Feb 07, 2024

GM to spend $19 billion through 2035 to source EV battery materials from LG Chem
The contract is likely one of the largest EV supply deals that GM has signed and suggests it remains committed to EVs, despite pushing back investments.

CNBC Business
Feb 07, 2024

Spirits sales beat out beer and wine for second straight year, despite little growth
Americans are still spending on spirits, but new data from DISCUS sheds light on where and how much they are spending.

CNBC Business
Feb 07, 2024

NYCB shares fall as much as 13% after Moody's cuts regional bank's credit rating to junk
NYCB has been in free fall since reporting a surprise loss last week, along with mounting losses on commercial real estate and the need to slash its dividend.

CNBC Business
Feb 07, 2024

Yum Brands disappoints as Middle East conflict weighs on sales growth
Yum is the third global restaurant giant to report disappointing revenue for the last three months of 2023.

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