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CNBC Business
Jun 13, 2024

From dying mall brand to Wall Street winner: How Abercrombie & Fitch pulled off retail's biggest comeback
Abercrombie & Fitch nearly faded into irrelevancy, but under the direction of CEO Fran Horowitz, it has transformed into one of Wall Street's biggest winners.

CNBC Business
Jun 12, 2024

Sony Pictures is buying Alamo Drafthouse theater chain
Sony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America.

CNBC Business
Jun 12, 2024

Robotics startup cofounded by Synapse CEO is raising funds with exaggerated claims about GM ties
Foundation was started in April by Synapse CEO Sankaet Pathak, Tribe Capital CEO Arjun Sethi, and LeBlanc, cofounder of Cobalt Robotics.

CNBC Business
Jun 12, 2024

Here's what's next for Paramount after Skydance deal is stopped in its tracks
Shari Redstone's National Amusements stopped deal talks between Paramount Global and Skydance. What's next for the media giant with three leaders at the helm?

CNBC Business
Jun 12, 2024

Sony Pictures is buying Alamo Drafthouse, becoming the first studio in 75 years to own a theater chain
Sony Pictures has acquired Alamo Drafthouse, the seventh-largest movie theater chain in North America.

CNBC Business
Jun 12, 2024

Fisker recalls thousands of Ocean EVs for safety and compliance issues
The company issued voluntary recalls for at least 11,000 Ocean SUVs across the U.S., Canada, and Europe for software-related issues.

CNBC Business
Jun 12, 2024

At Stellantis investor day, cost cuts and China come into focus
Stellantis has aggressively cut operations under Tavares, with some executives describing the measures as difficult or grueling.

CNBC Business
Jun 12, 2024

Southwest CEO vows change as activist investor pushes for new leadership
Elliott Management on Monday disclosed a nearly $2 billion stake in Southwest Airlines and said it wanted new leadership.

CNBC Business
Jun 12, 2024

Influencer Jake Paul launching men's skin, personal care line at Walmart
The line, called W, will feature products priced at less than $10 and looks to tap into the growing market for men's grooming.

CNBC Business
Jun 12, 2024

Influencer Jake Paul launching men's skin care line at Walmart
W will feature products priced at less than $10 and looks to tap into the growing market for men's grooming.

CNBC Business
Jun 11, 2024

Nathan's hot dog contest parts ways with champion Joey Chestnut over plant-based frank partnership
Major League Eating will part ways with 16-time champion Joey Chestnut ahead of this year's Fourth of July hot dog eating contest, hosted by Nathan's Famous.

CNBC Business
Jun 11, 2024

National Amusements stops discussions with Skydance on Paramount deal, sources say
Share Redstone's National Amusements has stopped talks with Skydance on proposed merger deal with Paramount Global, CNBC reported Tuesday.

CNBC Business
Jun 11, 2024

GM trims 2024 EV forecast amid slower-than-expected demand
General Motors is trimming its expected sales and production of all-electric vehicle this year, as U.S. adoption of EVs occurs slower than expected.

CNBC Business
Jun 11, 2024

Affirm buy now, pay later loans will be embedded into Apple Pay later this year
Affirm will surface as an option for U.S. Apple Pay users on iPhones and iPads later this year.

CNBC Business
Jun 11, 2024

Warner Bros. Discovery strikes 10-year deal to broadcast the French Open in the U.S.
Warner Bros. Discovery has been upping the ante with sports offerings as the company continues negotiations to extend its partnership with the NBA.

CNBC Business
Jun 11, 2024

GM board approves new $6 billion share buyback authorization
The new buyback authorization comes as a previously announced accelerated $10 billion share repurchase program is expected to be completed this month.

CNBC Business
Jun 10, 2024

UAW president under investigation by federal monitor
The monitor accuses UAW leaders of obstructing and interfering with his access to information amid accusations that the union president abused his powers.

CNBC Business
Jun 10, 2024

FDA advisors recommend Eli Lilly's Alzheimer's drug donanemab, paving way for approval
If approved, Eli Lilly's donanemab would become the second Alzheimer's drug of its kind to enter the market after Leqembi from Biogen and Eisai.

CNBC Business
Jun 10, 2024

Tiana's Bayou Adventure is the next step in Disney's $60 billion theme park investment
Tiana's Bayou Adventure, the rethemed Splash Mountain, is set to reopen June 28 at Walt Disney World Resort in Orlando, Florida.

CNBC Business
Jun 10, 2024

WNBA reports record TV viewership for 2024 season, highest game attendance in 26 years
The WNBA attributed much of the growing fan engagement to its powerful rookie class with big names such as Caitlin Clark and Angel Reese.

CNBC Business
Jun 10, 2024

Delta to launch premium economy service on NYC-LA flights in air travel upsell race
Delta and other carriers have sought to add premium seating and services on flights to get a revenue premium.

CNBC Business
Jun 10, 2024

The U.S. added 500,000 new millionaires last year as AI fueled markets
America's millionaire population grew 7.3% in 2023 to 7.43 million people, according to a Capgemini report. Their combined fortunes grew to $26.1 trillion.

CNBC Business
Jun 10, 2024

Roche alleges counterfeit diabetes medical devices were sold on Amazon
Counterfeit diabetes test strips have been sold on Amazon and shipped to patients across the U.S., said biotech company Roche.

CNBC Business
Jun 10, 2024

Elliott takes $1.9 billion stake in Southwest Airlines, seeks to oust CEO and chair
The stake makes Elliott one of Southwest's largest shareholders. Shares of Southwest were up 7% in premarket trading Monday.

CNBC Business
Jun 10, 2024

Family offices are planning big investments in private companies
Investing directly allows them to contribute their expertise and management advice to the portfolio companies, as well as their capital.

CNBC Business
Jun 10, 2024

Moderna's combination Covid, flu vaccine is more effective than existing shots in late-stage trial
Moderna is the first company to release positive phase three data on a Covid and flu combination shot, giving it a lead over rivals Pfizer and Novavax.

CNBC Business
Jun 08, 2024

The Covid-19 pandemic worsened a child care crisis, and it's costing U.S. businesses billions
The nation's child care crisis costs the U.S. an estimated $122 billion in lost earnings, productivity and revenue every year, according to ReadyNation.

CNBC Business
Jun 07, 2024

Nadella, Narayen among tech CEOs investing in cricket's American dream
As the Men's T20 Cricket World Cup, co-hosted by the U.S. for the first time, ramps up, investors seek to bring the sport into the American mainstream.

CNBC Business
Jun 07, 2024

FDA approves GSK's RSV vaccine for high-risk adults ages 50 to 59, expanding shot's reach
The FDA's expanded approval could help GSK maintain its dominance in the RSV market, which includes shots from Pfizer and Moderna.

CNBC Business
Jun 07, 2024

Synapse bankruptcy trustee says $85 million of customer savings is missing in fintech meltdown
The missing funds explain what is at the heart of the worst meltdown in the U.S. fintech sector since its emergence after the 2008 financial crisis.

CNBC Business
Jun 07, 2024

United Airlines starts serving passengers personalized ads on seat-back screens
United's Kinective Media is the latest example of how airlines have adopted new revenue streams such as cobranded cards.

CNBC Business
Jun 07, 2024

United Airlines starts serving passengers personalized ads on seatback screens
United's Kinective Media is the latest example of how airlines have adopted new revenue streams like cobranded cards.

CNBC Business
Jun 07, 2024

GM has a secret to help sell its new EVs. It's Costco
GM North America President Marissa West told CNBC that she's "bullish" on Costco Auto and is asking her team "to see how we can build this partnership."

CNBC Business
Jun 07, 2024

Oscar Health CEO Mark Bertolini is ready to take on the employer market
Oscar Health CEO Mark Bertolini sees the small- and mid-size employer market as a key growth opportunity.

CNBC Business
Jun 07, 2024

Spirit Airlines isn't considering chapter 11, 'encouraged' by post-JetBlue plan, CEO says
Spirit is struggling in the wake of a failed takeover by JetBlue Airways and a Pratt & Whitney engine recall.

CNBC Business
Jun 07, 2024

The U.S. added 600,000 new millionaires last year as AI fueled markets
America's millionaire population grew 7.3% in 2023 to 7.5 million people, according to a report from Capgemini. Their combined fortunes grew to $26.1 trillion.

CNBC Business
Jun 07, 2024

GM has a secret to help sell its new EVs. It's Costco.
GM North America President Marissa West told CNBC that she's "bullish" on Costco Auto and is asking her team "to see how we can build this partnership."

CNBC Business
Jun 06, 2024

Boeing Starliner docks with ISS, delivering its first NASA crew to space station
Boeing's Starliner capsule made a delayed docking with the International Space Station on Thursday after NASA called off an initial approach.

CNBC Business
Jun 06, 2024

PGA, Saudi-backed LIV in 'active discussions' one year after announcing proposed deal that rocked the golf world
The PGA Tour and LIV Golf are in "active discussions," meeting three times a week recently, as the two sides still work toward a deal one year later.

CNBC Business
Jun 06, 2024

Rivian redesigns all-electric R1 pickup and SUV, adds Nvidia chips and improves performance
Rivian said it has changed more than half the hardware components for the second-generation products ahead of anticipated R2 models.

CNBC Business
Jun 06, 2024

SpaceX's Starship rocket completes test flight for the first time, successfully splashes down
The fourth Starship test flight completed new milestones as SpaceX continues to advance development of the mammoth vehicle.

CNBC Business
Jun 06, 2024

SpaceX launches fourth Starship test flight
SpaceX launched a fourth test flight of its Starship rocket on Thursday.

CNBC Business
Jun 06, 2024

Craft cocktails, mountain bikes and art: Walmart's hometown is booming, and getting more expensive
As Walmart gets into new businesses like advertising and tries to lure workers, its hometown of Bentonville, Arkansas, and its corporate offices are changing.

CNBC Business
Jun 05, 2024

Flight attendant union rejects American Airlines' proposed 17% pay raise
American and its flight attendants' union are meeting with federal mediators next week for further talks.

CNBC Business
Jun 05, 2024

Lululemon shares pop 10% despite lackluster earnings report and guidance
Lululemon is seeing sales grow in North America, but at a far slower pace than the past, raising concerns from investors about its future growth potential.

CNBC Business
Jun 05, 2024

Lululemon shares pop 12% despite lackluster earnings report and guidance
Lululemon is still seeing sales grow in North America but at a far slower pace than the past, raising concerns from investors about its future growth potential.

CNBC Business
Jun 05, 2024

Boeing CEO to testify in Senate hearing June 18
Boeing's departing CEO Dave Calhoun will face lawmakers' questions about aircraft quality and whistleblower allegations.

CNBC Business
Jun 05, 2024

American Airlines offers flight attendants 17% raises as contract talks drag on
American and its flight attendants' union are meeting with federal mediators next week for further talks.

CNBC Business
Jun 05, 2024

Boeing Starliner launches for the first time carrying NASA astronauts to the ISS
Boeing launched its first Starliner flight with astronauts on Wednesday, beginning a crucial final flight test of the long-delayed spacecraft.

CNBC Business
Jun 05, 2024

Dollar Tree is exploring a sale of its Family Dollar brand
Dollar Tree also posted first-quarter earnings that met expectations, but showed Family Dollar sales lagging.

CNBC Business
Jun 05, 2024

Hanesbrands to sell Champion brand to Authentic Brands in $1.2 billion deal
Hanesbrands has agreed to sell its Champion brand to Authentic Brands Group in a transaction valued at $1.2 billion, the company announced Wednesday.

CNBC Business
Jun 05, 2024

Walmart rolls out new training programs for skilled trades as it tries to fill high-demand roles
The big-box retailer has been investing in store upgrades and boosted pay for store managers earlier this year.

CNBC Business
Jun 05, 2024

Electric air taxi maker Archer Aviation gets key FAA sign-off
The FAA granted Archer Aviation its Part 135 certificate, "which allows us to effectively become an airline," CEO Adam Goldstein told CNBC.

CNBC Business
Jun 04, 2024

NBA, NHL voice concerns over future of Diamond Sports, as it tries to craft post-bankruptcy plan
The NBA and NHL voiced concerns over the future of regional sports network owner Diamond Sports, which has been under bankruptcy protection since March 2023.

CNBC Business
Jun 04, 2024

Warner Bros. Discovery hikes prices for Max streaming service
Warner Bros Discovery's Max announced price increases to its monthly and yearly ad-free options Tuesday, ahead of season two of "House of the Dragon."

CNBC Business
Jun 04, 2024

Ford EV and hybrid sales surge 65% in May
Ford on Tuesday reported roughly 65% increases in sales of both hybrid and all-electric vehicles.

CNBC Business
Jun 04, 2024

Paramount leadership team outlines job cuts, streaming JV plans at annual meeting
Paramount and Skydance have agreed to terms of a merger, but the deal is awaiting signoff from controlling shareholder Shari Redstone.

CNBC Business
Jun 04, 2024

Paramount leadership team to announce job cuts, streaming JV plans at annual meeting
Paramount's three leaders will unveil a plan at the shareholders meeting on Tuesday in the event a sale of the company doesn't occur.

CNBC Business
Jun 04, 2024

The SBA is unveiling new credit lines of up to $5 million to fund small businesses
The project is part of the SBA's efforts to broaden its flagship lending program for American small businesses under Administrator Isabel Casillas Guzman.

CNBC Business
Jun 03, 2024

Paramount and Skydance agree to terms of a merger deal
The agreement terms come after weeks of discussion and after a recent competing offer from Apollo Global Management and Sony Pictures.

CNBC Business
Jun 03, 2024

Jeep expects to grow plug-in hybrid SUV sales by as much as 50% in 2024
The target comes as Jeep launches its first all-electric SUVs in the U.S., beginning with the Wagoneer S EV.

CNBC Business
Jun 03, 2024

Moderna, Merck say vaccine improved survival in patients with deadly skin cancer
Nearly 75% of patients who took the cancer vaccine and Keytruda were alive without any signs or symptoms of their cancer returning at the 2½-year mark.

CNBC Business
Jun 03, 2024

See inside Ford's new tech campus, a century-old Detroit train station restored for $950 million
Ford Chair Bill Ford Jr., who spearheaded the project, said the 30-acre campus will be key for the automaker's talent acquisition and retention.

CNBC Business
Jun 01, 2024

Savings app CEO says 85,000 accounts locked in fintech meltdown: ‘We never imagined a scenario like this'
The ongoing Synapse bankruptcy mess has exposed the risks in a corner of fintech that grew in prominence during a boom in venture investment.

CNBC Business
May 31, 2024

Retailers like Gap and Foot Locker had a strong week. That doesn't spell a consumer comeback
Gap profits were 9 times higher and Foot Locker beat estimates — unlikely winners in Q1 retail earnings. But, this says more about the companies than consumers.

CNBC Business
May 31, 2024

It was a strong week for retail earnings. That doesn't spell a consumer comeback
Consumers are being far more selective in their shopping as they contend with inflation, high interest rates and an uncertain economy.

CNBC Business
May 31, 2024

FDA approves Moderna's RSV vaccine for seniors, the company's second-ever product
The decision is a win for Moderna, which needs another revenue source amid plunging demand for its Covid vaccine, its only commercially available product.

CNBC Business
May 31, 2024

Aston Martin gets a boost from Formula 1 and new high-performance models
Aston Martin has overhauled manufacturing, shored up its financials and is now launching a fleet of new products defined by high performance.

CNBC Business
May 31, 2024

Pfizer's drug for advanced lung cancer shows promising long-term trial results
The company's medicine helped patients live longer without seeing their cancer progress, as most of them experienced that benefit for over five years.

CNBC Business
May 30, 2024

Jeep reveals all-electric Wagoneer S in EV offensive, starting at $72,000
The Stellantis-owned brand revealed a "new chapter" for the quintessential American SUV brand that has struggled with domestic sales in recent years.

CNBC Business
May 30, 2024

Ulta Beauty CEO outlines plans to boost sales after first-quarter slowdown, shares jump 11%
Ulta Beauty has been a strong performer for retailers as they face a consumer pullback in light of persistently higher costs.

CNBC Business
May 30, 2024

Nordstrom misses Wall Street's earnings expectations as off-price chain Rack lifts sales
The department store operator stuck by its full-year forecast despite the miss.

CNBC Business
May 30, 2024

Nordstrom misses Wall Street's earnings expectations, as off-price chain Rack lifts sales
The department store operator Nordstrom stuck by its full-year forecast despite the miss.

CNBC Business
May 30, 2024

Gap shares pop 20% as earnings beat on sales growth at all four brands
Gap has been in the midst of a turnaround under CEO Richard Dickson, who has focused on better marketing and storytelling for the company's portfolio of brands.

CNBC Business
May 30, 2024

Ulta Beauty lowers guidance after first-quarter sales slowdown
Beauty has been a strong point for retailers as they face a consumer pullback in light of persistently higher costs.

CNBC Business
May 30, 2024

Best Buy jumps 13% as cost-cutting preserves profits despite sluggish sales
Best Buy has noticed a pullback in purchases of discretionary items as consumers manage higher costs because of inflation.

CNBC Business
May 30, 2024

FAA won't clear Boeing to increase 737 Max production for several months, agency head says
Boeing's CEO and other top leaders met with the Federal Aviation Administration to present its safety plan.

CNBC Business
May 30, 2024

Bank of America CEO says U.S. consumers and businesses have turned cautious on spending
Consumers and businesses are wrestling with inflation and borrowing costs that remain higher than they are accustomed to.

CNBC Business
May 30, 2024

Kohl's stock plummets more than 20% after massive earnings miss
Kohl's shares plummeted more than 20% in early trading Thursday after the company posted weaker-than-expected earnings.

CNBC Business
May 30, 2024

Best Buy jumps more than 10% as cost-cutting preserves profits despite sluggish sales
Best Buy has noticed a pullback in purchases of discretionary items as consumers manage higher costs because of inflation.

CNBC Business
May 30, 2024

Foot Locker stock surges 20% as turnaround shows signs of life
Foot Locker is making gains under CEO Mary Dillon, who has been working to win back brands and Wall Street's confidence with an ambitious turnaround plan.

CNBC Business
May 30, 2024

Pending home sales in April slump to lowest level since the start of the pandemic
Pending home sales were down in every region of the country, but they fell hardest in the Midwest and West.

CNBC Business
May 30, 2024

Pending home sales in April slump to the lowest level since the start of the pandemic
Pending home sales were down in every region of the country, but they fell hardest in the Midwest and West.

CNBC Business
May 30, 2024

Kohl's stock plummets 25% after massive earnings miss
Kohl's shares plummeted more than 25% in early trading Thursday after the company posted weaker-than-expected earnings.

CNBC Business
May 30, 2024

AI cancer screening programs are booming, but you'll likely have to pay for them yourself
The FDA has approved nearly 600 radiology AI program since 2019, but most aren't covered by Medicare or private health insurance.

CNBC Business
May 30, 2024

Best Buy jumps 10% as cost-cutting preserves profits despite sluggish sales
Best Buy has noticed a pullback in purchases of discretionary items as consumers manage higher costs because of inflation.

CNBC Business
May 30, 2024

Foot Locker stock surges 30% as turnaround shows signs of life
Foot Locker is making gains under CEO Mary Dillon, who has been working to win back brands and Wall Street's confidence with an ambitious turnaround plan.

CNBC Business
May 30, 2024

Foot Locker stock surges 13% as turnaround shows signs of life
Foot Locker is making gains under CEO Mary Dillon, who has been working to win back brands and Wall Street's confidence with an ambitious turnaround plan.

CNBC Business
May 30, 2024

Best Buy posts another quarter of sluggish consumer electronics demand
Best Buy has noticed a pullback in purchases of discretionary items as consumers manage higher costs because of inflation.

CNBC Business
May 30, 2024

New basketball league Unrivaled lands star-studded investor lineup, aims to pay highest average salary in women's pro league sports
The women's basketball league founded by Breanna Stewart and Napheesa Collier, set to take place in the WNBA offseason, has drawn sports and media investors.

CNBC Business
May 30, 2024

Boeing's 90 days to hand in a safety plan to the FAA are up. Here's what to expect
Boeing's CEO and other top leaders are scheduled to meet with the Federal Aviation Administration to present its safety plan.

CNBC Business
May 30, 2024

Kohl's stock plummets 20% after massive earnings miss
Kohl's shares plummeted more than 20% in early morning trading Thursday after the company posted weaker-than-expected earnings.

CNBC Business
May 30, 2024

American Airlines shares tumble 13% after sales strategy backfires; carrier cuts growth
American cut its profit and unit revenue forecast for the second quarter, which coincides with some of the busiest travel periods of the year.

CNBC Business
May 30, 2024

Foot Locker's turnaround is showing signs of life, CEO sees consumers willing to pay full price
Foot Locker is making gains under CEO Mary Dillon, who has been working to win back brands and Wall Street's confidence with an ambitious turnaround plan.

CNBC Business
May 29, 2024

Nelson Peltz sells entire Disney stake weeks after losing proxy battle
In early April, Trian's Peltz lost a proxy battle at Disney as shareholders reelected the company's full slate of board nominees.

CNBC Business
May 29, 2024

Dick's Sporting Goods stock surges 16%, as retailer says shoppers are spending more on sneakers, apparel and athletic gear
Dick's Sporting Goods saw sales grow well ahead of estimates, following behind other retailers that said consumers are spending on new clothes and shoes.

CNBC Business
May 29, 2024

Abercrombie & Fitch shares surge 24% as retailer's torrid growth shows no signs of slowing
Abercrombie & Fitch is building on its blockbuster 2023 by growing Hollister and adding new categories to its namesake banner, such as the A&F Wedding Shop.

CNBC Business
May 29, 2024

AST SpaceMobile stock surges 69%, its best day ever, after Verizon satellite internet deal
AST CEO Abel Avellan touted the agreements as "essentially eliminating dead zones and empowering remote areas of the country with space-based connectivity."

CNBC Business
May 29, 2024

American shares tumble 13% after sales strategy backfires; carrier cuts growth
American cut its profit and unit revenue forecast for the second quarter, which coincides with some of the busiest travel periods of the year.

CNBC Business
May 29, 2024

McDonald's exec says average menu item costs 40% more than in 2019
The president of McDonald's USA clarified its price inflation in a press release in response to 100% price increase claims by House Republicans, among others.

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