A customer enters a Nike store along the Magnificent Mile shopping district on December 21, 2022 in Chicago, Illinois. Scott Olson | Getty ImagesNike on Thursday unveiled plans to cut costs by about $2 billion over the next three years as it warned about a "softer" revenue outlook for the...
The Boeing 787 Dreamliner sits on the tarmac at Boeing Field in Seattle, Washington.Robert Sorbo | ReutersBoeing 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...
Check out the companies making headlines in midday trading. Spotify — The streaming music stock gained 2.7% after Pivotal Research upgraded Spotify to buy from hold. The Pivotal note said the firm sees a "renewed focus on financial discipline" and it anticipates Spotify will center more on generating free...
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...
Your Hometown Deli in Paulsboro, N.J.Google EarthA 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...
New Kia cars are displayed on the sales lot at San Leandro Kia on May 30, 2023 in San Leandro, California.Justin Sullivan | Getty ImagesDETROIT – Sales of new vehicles in the U.S. are expected to increase slightly next year, as the automotive industry continues to normalize from the...
Check out the companies making the biggest moves in premarket trading: Micron Technology — The chip stock jumped nearly 6% after the company beat earnings and revenue estimates postmarket Wednesday. Micron also gave strong guidance for its second quarter that also beat analyst expectations. Paramount Global — Shares shed...
Manonallard | E+ | Getty ImagesFor many Americans, it's the first holiday season when most of the family may know the term "artificial intelligence" if it comes up during Christmas dinner.Just don't expect AI to do the heavy lifting for Santa quite yet.The rise of generative AI — and...
A Chick-fil-A meal is displayed at a Chick-fil-A restaurant in Novato, California, on June 1, 2023.Justin Sullivan | Getty ImagesEvery restaurant chain from McDonald's to Popeyes wants to take down Chick-fil-A, but its hold over customers is tighter than ever.Since its founding in 1967, Chick-fil-A has grown to become...
The U.K. and Switzerland are deepening the ties between their financial services sectors with a new post-Brexit deal.Sopa Images | Lightrocket | Getty ImagesLONDON — The U.K. and Switzerland on Thursday will sign a post-Brexit financial services deal designed to bring two of Europe's largest banking centers closer together.British...