title,url,timestamp,content,source,clean_date,clean_content,arti_score,pos_sent,neg_sent,rnn_arti_score,rnn_pos_sent,rnn_neg_sent,date_extracted
Jamie Dimon calls U.S. government 'inefficient' and says Elon Musk's DOGE effort 'needs to be done',https://www.cnbc.com/2025/02/24/jamie-dimon-us-government-inefficient-touts-elon-musk-doge-effort.html,2025-02-24T20:41:11+0000,"In this articleJPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau.Dimon was asked by CNBC's Leslie Picker whether he supported efforts by Elon Musk's advisory body, the Department of Government Efficiency. He declined to give what he called a ""binary"" response, but made comments that supported the overall effort.""The government is inefficient, not very competent, and needs a lot of work,"" Dimon told Picker. ""It's not just waste and fraud, it's outcomes.""The Trump administration's effort to rein in spending and scrutinize federal agencies ""needs to be done,"" Dimon added.""Why are we spending the money on these things? Are we getting what we deserve? What should we change?"" Dimon said. ""It's not just about the deficit, its about building the right policies and procedures and the government we deserve.""Dimon said if DOGE overreaches with its cost-cutting efforts or engages in activity that's not legal, ""the courts will stop it.""""I'm hoping it's quite successful,"" he said.In the wide-ranging interview, Dimon also addressed his company's push to have most workers in office five days a week, as well as his views on the Ukraine conflict, tariffs and the U.S. consumer.",CNBC,24/02/2025,"['In this articleJPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau.', ""Dimon was asked by CNBC's Leslie Picker whether he supported efforts by Elon Musk's advisory body, the Department of Government Efficiency."", 'He declined to give what he called a ""binary"" response, but made comments that supported the overall effort.', '""The government is inefficient, not very competent, and needs a lot of work,"" Dimon told Picker. ""', ""It's not just waste and fraud, it's outcomes."", '""The Trump administration\'s effort to rein in spending and scrutinize federal agencies ""needs to be done,"" Dimon added.', '""Why are we spending the money on these things?', 'Are we getting what we deserve?', 'What should we change?""', 'Dimon said. ""', ""It's not just about the deficit, its about building the right policies and procedures and the government we deserve."", '""Dimon said if DOGE overreaches with its cost-cutting efforts or engages in activity that\'s not legal, ""the courts will stop it.', '""""I\'m hoping it\'s quite successful,"" he said.', ""In the wide-ranging interview, Dimon also addressed his company's push to have most workers in office five days a week, as well as his views on the Ukraine conflict, tariffs and the U.S. consumer.""]",0.0324484955139044,"""""I'm hoping it's quite successful,"" he said.","It's not just about the deficit, its about building the right policies and procedures and the government we deserve.",-0.4928240180015564,"""""I'm hoping it's quite successful,"" he said.",In this articleJPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau.,2025-02-25
Embattled EV maker Nikola files for Chapter 11 bankruptcy protection,https://www.cnbc.com/2025/02/19/nikola-chapter-11-bankruptcy-protection.html,2025-02-19T13:58:09+0000,"In this articleDETROIT — Nikola Corp. — an auto startup that was once a favorite of Wall Street analysts and retail investors — filed for bankruptcy protection after failing to secure a buyer or raise additional funds to maintain operations.Nikola said Wednesday that it plans to pursue an auction and sale process of its assets, pending court approval. The company said it has approximately $47 million in cash to fund its bankruptcy activities, implement the sale process and exit Chapter 11.""Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate,"" Nikola CEO Steve Girsky said in a release. ""Unfortunately, our very best efforts have not been enough to overcome these significant challenges, and the Board has determined that Chapter 11 represents the best possible path forward under the circumstances for the Company and its stakeholders.""The proposed bidding procedures, if approved by the court, would allow interested parties to submit binding offers to acquire Nikola's assets, purchased free and clear of Nikola's indebtedness and certain liabilities. The filing marks the finale of the Phoenix-based company's yearslong fall from grace. At its peak in 2020, Nikola was valued more than Ford Motor at $30 billion, signed a multibillion-dollar deal with General Motors, and was considered the pinnacle of auto startups to go public through reverse mergers and special purpose acquisition companies.The company's downfall has played out over years, ignited by scandals and lies involving its founder and former chairman and CEO, Trevor Milton. The fast-talking, energetic, disgraced executive was convicted of wire fraud and securities fraud in 2022 for misleading investors about Nikola's operations and zero-emissions technology.The controversies were first made public by short seller Hindenburg Research after the deal with GM that included the Detroit automaker taking a $2 billion stake in the startup.Nikola's core products are all-electric and fuel cell electric semitrucks, which it began producing in 2022. As of the third quarter of last year, the company had only produced 600 of the vehicles since then. Many of those vehicles have been recalled due to defects, costing the automaker tens of millions of dollars.Since moving from chairman to CEO in 2023, Girsky has kept Nikola moving forward, including its production of zero-emissions trucks, but the company's capital has been dwindling.Nikola warned investors on its third-quarter conference call that the company only had enough cash to support its business into the first quarter of 2025 but not beyond. Nikola reported $198 million in cash to end the third quarter.Girsky on the call in October said Nikola was ""actively talking to lots of potential different partners who value what we do and value what we've built.""Girsky, a former bank analyst and GM executive, took Nikola public through his SPAC in June 2020. It was a catalyst for more EV companies to go public through SPACs.Similarly to Nikola, most, if not all, have failed to live up to their initial expectations. Many were the center of federal investigations, scandals and executive upheavals.Nikola's stock has traded under $2 per share since early December. Factoring out a 1-for-30 reverse stock split last year, FactSet reports Nikola's all-time closing price was nearly $80 in June 2020.",CNBC,19/02/2025,"['In this articleDETROIT — Nikola Corp. — an auto startup that was once a favorite of Wall Street analysts and retail investors — filed for bankruptcy protection after failing to secure a buyer or raise additional funds to maintain operations.', 'Nikola said Wednesday that it plans to pursue an auction and sale process of its assets, pending court approval.', 'The company said it has approximately$47 millionin cash to fund its bankruptcy activities, implement the sale process and exit Chapter 11.""Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate,"" Nikola CEO Steve Girsky said in a release. ""', 'Unfortunately, our very best efforts have not been enough to overcome these significant challenges, and the Board has determined that Chapter 11 represents the best possible path forward under the circumstances for the Company and its stakeholders.', '""The proposed bidding procedures, if approved by the court, would allow interested parties to submit binding offers to acquire Nikola\'s assets, purchased free and clear of Nikola\'s indebtedness and certain liabilities.', ""The filing marks the finale of the Phoenix-based company's yearslong fall from grace."", 'At its peak in 2020, Nikola was valued more than Ford Motor at $30 billion, signed a multibillion-dollar deal with General Motors, and was considered the pinnacle of auto startups to go public through reverse mergers and special purpose acquisition companies.', ""The company's downfall has played out over years, ignited by scandals and lies involving its founder and former chairman and CEO, Trevor Milton."", ""The fast-talking, energetic, disgraced executive was convicted of wire fraud and securities fraud in 2022 for misleading investors about Nikola's operations and zero-emissions technology."", 'The controversies were first made public by short seller Hindenburg Research after the deal with GM that included the Detroit automaker taking a $2 billion stake in the startup.', ""Nikola's core products are all-electric and fuel cell electric semitrucks, which it began producing in 2022."", 'As of the third quarter of last year, the company had only produced 600 of the vehicles since then.', 'Many of those vehicles have been recalled due to defects, costing the automaker tens of millions of dollars.', ""Since moving from chairman to CEO in 2023, Girsky has kept Nikola moving forward, including its production of zero-emissions trucks, but the company's capital has been dwindling."", 'Nikola warned investors on its third-quarter conference call that the company only had enough cash to support its business into the first quarter of 2025 but not beyond.', 'Nikola reported $198 million in cash to end the third quarter.', 'Girsky on the callin October said Nikola was ""actively talking to lots of potential different partners who value what we do and value what we\'ve built.', '""Girsky, a former bank analyst and GM executive, took Nikola public through his SPAC in June 2020.', 'It was a catalyst for more EV companies to go public through SPACs.', 'Similarly to Nikola, most, if not all, havefailed to live up to their initial expectations.', 'Many were the center of federal investigations, scandals and executive upheavals.', ""Nikola's stock has traded under $2 per share since early December."", ""Factoring out a 1-for-30 reverse stock split last year, FactSet reports Nikola's all-time closing price was nearly $80 in June 2020.""]",0.126832205816032,"""The proposed bidding procedures, if approved by the court, would allow interested parties to submit binding offers to acquire Nikola's assets, purchased free and clear of Nikola's indebtedness and certain liabilities.","The fast-talking, energetic, disgraced executive was convicted of wire fraud and securities fraud in 2022 for misleading investors about Nikola's operations and zero-emissions technology.",-0.0459974482655525,"Unfortunately, our very best efforts have not been enough to overcome these significant challenges, and the Board has determined that Chapter 11 represents the best possible path forward under the circumstances for the Company and its stakeholders.","Since moving from chairman to CEO in 2023, Girsky has kept Nikola moving forward, including its production of zero-emissions trucks, but the company's capital has been dwindling.",2025-02-25
"From pills to new uses, here's what Eli Lilly’s top scientist sees as the future of weight loss drugs",https://www.cnbc.com/2025/02/20/eli-lilly-dan-skovronsky-discusses-weight-loss-drugs.html,2025-02-20T15:28:50+0000,"In this articleDan Skovronsky knows what makes a good obesity drug.As chief scientific officer at Eli Lilly, he's already done it once with the company's weekly shot, Zepbound. He's trying to do it again with a more convenient daily pill, then repeat the feat with a shot that could be even more powerful than Zepbound. And that's not counting the other nine obesity drugs Lilly's testing in clinical trials.Skovronsky said the race to create the next great drug is not just about weight loss anymore, something more investors and analysts are starting to say.Take Amgen's experimental drug MariTide: people lost up to 20% of their body weight in a phase two study and Amgen shares fell about 5% on the day the results were released in November. Why? Investors worried that it wouldn't be enough to compete with Lilly's Zepbound and Novo Nordisk's Wegovy, both of which will have a yearslong head start. Skovornsky sees improving ease of use and making more potent drugs as two paths to move the field forward. He envisions pills like Lilly's orforglipron reaching people around the world. He sees drugs that can deliver more weight loss – possibly including Lilly's own retatrutide – as another area with potential. But he's most excited to see how many other health conditions that incretin – or gut hormone – medicines can treat. Lilly's Zepbound recently was approved to treat sleep apnea. The company's also exploring whether it can treat addiction, heart disease, inflammation and gastrointestinal conditions. You can watch to the full interview for more from Skovronsky on Lilly's work in obesity and where he sees the market going.",CNBC,20/02/2025,"['In this articleDan Skovronsky knows what makes a good obesity drug.', ""As chief scientific officer at Eli Lilly, he's already done it once with the company's weekly shot, Zepbound."", ""He's trying to do it again with a more convenient daily pill, then repeat the feat with a shot that could be even more powerful than Zepbound."", ""And that's not counting the other nine obesity drugs Lilly's testing in clinical trials."", 'Skovronsky said the race to create the next great drug is not just about weight loss anymore, something more investors and analysts are starting to say.', ""Take Amgen's experimental drug MariTide: people lost up to 20% of their body weight in a phase two study and Amgen shares fell about 5% on the day the results were released in November."", 'Why?', ""Investors worried that it wouldn't be enough to compete with Lilly's Zepbound and Novo Nordisk's Wegovy, both of which will have a yearslong head start."", 'Skovornsky sees improving ease of use and making more potent drugs as two paths to move the field forward.', ""He envisions pills like Lilly's orforglipron reaching people around the world."", ""He sees drugs that can deliver more weight loss – possibly including Lilly's own retatrutide – as another area with potential."", ""But he's most excited to see how many other health conditions that incretin – or gut hormone – medicines can treat."", ""Lilly's Zepbound recently was approved to treat sleep apnea."", ""The company's also exploring whether it can treat addiction, heart disease, inflammation and gastrointestinal conditions."", ""You can watch to the full interview for more from Skovronsky on Lilly's work in obesity and where he sees the market going.""]",0.2562284589745471,But he's most excited to see how many other health conditions that incretin – or gut hormone – medicines can treat.,He sees drugs that can deliver more weight loss – possibly including Lilly's own retatrutide – as another area with potential.,-0.3311733802159627,Skovornsky sees improving ease of use and making more potent drugs as two paths to move the field forward.,Take Amgen's experimental drug MariTide: people lost up to 20% of their body weight in a phase two study and Amgen shares fell about 5% on the day the results were released in November.,2025-02-25
"Hims & Hers to offer at-home blood draws, lean into 'peptide innovations' with new acquisitions",https://www.cnbc.com/2025/02/19/hims-hers-to-offer-at-home-blood-draws-lab-testing-with-trybe-deal.html,2025-02-21T15:34:46+0000,"In this articleHims & Hers Health announced Wednesday it has acquired New Jersey-based at-home lab testing facility Trybe Labs.The deal will allow the telehealth company to offer at-home blood draws and more comprehensive pretreatment testing to its users.""Access to richer data allows us to deepen the insights that providers can use on our platform to guide their clinical decisions for each individual patient,"" said Dr. Patrick Carroll, Hims & Hers chief medical officer.""At-home lab testing is one more exciting step towards elevating the personal, comprehensive care customers in this country should expect,"" Dr. Carroll added.Hims & Hers did not disclose terms of the deal, but said it funded it through cash on hand. The company told CNBC it will share pricing for the new testing options when the offering is made available to customers over the next year.The acquisition by Hims & Hers will offer competition to blood-drawing services such as Labcorp and Quest Diagnostics.The startup is expanding its services less than one year after it started offering compounded GLP-1 weight loss drugs. As Hims & Hers casts itself as a cheaper alternative to established companies, it recently took aim at the pharmaceutical industry in a Super Bowl ad, saying the industry is ""priced for profits, not patients.""""The health care that customers expect and deserve today is on-demand care with treatments designed specifically for them,"" said Dr. Carroll.On Friday, the company separately announced it has acquired a U.S.-based peptide facility in California as part of its latest expansion of that domestic supply chain.""A lot of peptide demand is future facing innovation,"" Andrew Dudum, Hims & Hers Health CEO told CNBC Friday following that announcement. ""So many use cases have yet to be launched,"" he added.The acquisition follows previous purchases of drug manufacturing facilities in Ohio and Arizona over the last six years.While Hims did not disclosure the international exposure of its supply chain, Dudum did emphasize this deal comes at a time when the Trump administration is cracking down on the broader pharmaceutical industry's reliance on overseas production.Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community. Secretary of Health and Human Services Robert F. Kennedy Jr. has vocalized support for the treatment as alternative medicine, saying it has been under ""aggressive suppression"" by the Food and Drug Administration like other alternatives like psychedelics, stem cells and raw milk.However, the excitement surrounding peptide innovations have limited scientific evidence supporting their long-term benefits.Dudum said the acquisition will allow his company to explore areas including recovery science, preventative health and rejuvenation.""Peptide innovation is at the forefront of so many categories we're excited to start offering,"" said Dudum.Hims & Hers' acquisition of Trybe Labs will add testing capabilities for LDL cholesterol, lipoprotein(a), cholesterol and apolipoprotein, the company said. It will also expand the company's ability to offer access to care and treatments across a range of conditions including low testosterone and perimenopausal and menopausal support.Hims & Hers users will be given a blood lancet provided by home diagnostic testing company Tasso. The lancet is a single-use device that collects whole liquid blood samples and is cleared for premarket use by the FDA.Users attach the device to their upper arm and press a button that triggers the lancet to prick the skin and draw a small amount of blood collected in a microtube.Providers on the platform will use the information collected as part of determining a treatment plan for patients.Hims & Hers said it will use data from the blood work — with patient identities removed — to accelerate its development of artificial intelligence-powered health care.Clarification: This story was updated to reflect that the new testing services will aid the company's perimenopausal care.",CNBC,21/02/2025,"['In this articleHims & Hers Health announced Wednesday it has acquired New Jersey-based at-home lab testing facility Trybe Labs.', 'The deal will allow the telehealth company to offer at-home blood draws and more comprehensive pretreatment testing to its users.', '""Access to richer data allows us to deepen the insights that providers can use on our platform to guide their clinical decisions for each individual patient,"" said Dr. Patrick Carroll, Hims & Hers chief medical officer.', '""At-home lab testing is one more exciting step towards elevating the personal, comprehensive care customers in this country should expect,"" Dr. Carroll added.', 'Hims & Hers did not disclose terms of the deal, but said it funded it through cash on hand.', 'The company told CNBC it will share pricing for the new testing options when the offering is made available to customers over the next year.', 'The acquisition by Hims & Hers will offer competition to blood-drawing services such as Labcorp and Quest Diagnostics.', 'The startup is expanding its services less than one year after it started offering compounded GLP-1 weight loss drugs.', 'As Hims & Hers casts itself as a cheaper alternative to established companies, it recently took aim at the pharmaceutical industry in a Super Bowl ad, saying the industry is ""priced for profits, not patients.', '""""The health care that customers expect and deserve today is on-demand care with treatments designed specifically for them,"" said Dr. Carroll.', 'On Friday, the company separately announced it has acquired a U.S.-based peptide facility in California as part of its latest expansion of that domestic supply chain.', '""A lot of peptide demand is future facing innovation,"" Andrew Dudum, Hims & Hers Health CEO told CNBC Friday following that announcement. ""', 'So many use cases have yet to be launched,"" he added.', 'The acquisition follows previous purchases of drug manufacturing facilities in Ohio and Arizona over the last six years.', ""While Hims did not disclosure the international exposure of its supply chain, Dudum did emphasize this deal comes at a time when the Trump administration is cracking down on the broader pharmaceutical industry's reliance on overseas production."", 'Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community.', 'Secretary of Health and Human Services Robert F. Kennedy Jr. has vocalized support for the treatment as alternative medicine, saying it has been under ""aggressive suppression"" by the Food and Drug Administration like other alternatives like psychedelics, stem cells and raw milk.', 'However, the excitement surrounding peptide innovations have limited scientific evidence supporting their long-term benefits.', 'Dudum said the acquisition will allow his company to explore areas including recovery science, preventative health and rejuvenation.', '""Peptide innovation is at the forefront of so many categories we\'re excited to start offering,"" said Dudum.', ""Hims & Hers' acquisition of Trybe Labs will add testing capabilities for LDL cholesterol, lipoprotein(a), cholesterol and apolipoprotein, the company said."", ""It will also expand the company's ability to offer access to care and treatments across a range of conditions including low testosterone and perimenopausal and menopausal support."", 'Hims & Hers users will be given a blood lancet provided by home diagnostic testing company Tasso.', 'The lancet is a single-use device that collects whole liquid blood samples and is cleared for premarket use by the FDA.Users attach the device to their upper arm and press a button that triggers the lancet to prick the skin and draw a small amount of blood collected in a microtube.', 'Providers on the platform will use the information collected as part of determining a treatment plan for patients.', 'Hims & Hers saidit will use data from the blood work — with patient identities removed — to accelerate its development of artificial intelligence-powered health care.', ""Clarification: This story was updated to reflect that the new testing services will aid the company's perimenopausal care.""]",0.3473721825483231,"Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community.",The startup is expanding its services less than one year after it started offering compounded GLP-1 weight loss drugs.,0.7281141936779022,"Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community.","However, the excitement surrounding peptide innovations have limited scientific evidence supporting their long-term benefits.",2025-02-25
Nike teams up with Kim Kardashian shapewear brand Skims as it looks to reach more women,https://www.cnbc.com/2025/02/18/nike-teams-up-with-skims-to-launch-new-brand.html,2025-02-18T16:57:08+0000,"In this articleNike has teamed up with Kim Kardashian's intimates brand Skims to launch a new line of activewear as the legacy sneaker giant looks to win over more women and better compete with Lululemon, Alo Yoga and Vuori, the companies announced Tuesday. The new brand, dubbed NikeSKIMS, will include apparel, footwear and accessories. It will debut its initial collection this spring, with a global rollout planned for 2026. It is not clear what exactly the products will look like or what items will be included in the initial collection. The only image contained in Nike's announcement was a graphic of the new brand's logo. Nike's partnership with Skims, the buzzy shapewear brand created by Kardashian and Swedish entrepreneur Jens Grede, the brand's CEO, comes as Nike looks to claw back the market share it has lost to upstart competitors and bring more women into the brand. A new activewear line with the Skims name attached will give Nike an in with the types of shoppers who are buying activewear from Lululemon and newer competitors such as Alo Yoga and Vuori, which cater more to women than Nike currently does. Nike has said previously that about 40% of its customers are women, but most apparel brands prefer to have more female consumers than male because they tend to shop more and spend more on clothes. Plus, this gender gap has allowed Nike's competitors to get a foothold in the athletic apparel business, which could be a growth opportunity for the sneaker giant. In fiscal 2024, apparel only represented about 28% of Nike brand revenue. Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades. The campaign, called ""So Win,"" highlights female athletes such as gymnast Jordan Chiles and Women's National Basketball Association stars Caitlin Clark and Sabrina Ionescu. The spot touched on the challenges women have faced in sports and called on them to win, even though they have been told what they can't do and who they shouldn't be. The campaign made it clear that reaching female athletes and capturing the buzz currently surrounding women's sports will be a focal point of Nike's strategy under its new CEO Elliott Hill. Not only will the Skims partnership allow Nike to better compete for women, but it will also bring in a new product line at a time when the company has been accused of falling behind on innovation and churning out the same legacy styles that are no longer exciting to consumers. For Skims, which was last valued at $4 billion, the Nike partnership and access to its manufacturing and development capabilities brings a growth opportunity for a brand that is popular but still relatively small compared to competitors. Other intimates brands, such as Victoria's Secret, have tried and largely failed to branch into activewear, so Skims might be able to prove itself a winner in the space with Nike by its side. Plus, it bodes well for an initial public offering, which Skims has been considering. If Skims can show that it has more growth opportunities and a strategic partner like Nike, a public debut will be an easier sell to investors who are cautious on consumer companies amid tariff concerns, persistent inflation and a pullback on discretionary spending. Grede has said previously that the retailer deserves to be a public company, but he told WWD in December that it has not yet made a decision on an IPO.",CNBC,18/02/2025,"[""In this articleNike has teamed up with Kim Kardashian's intimates brand Skims to launch a new line of activewear as the legacy sneaker giant looks to win over more women and better compete with Lululemon, Alo Yoga and Vuori, the companies announced Tuesday."", 'The new brand, dubbed NikeSKIMS, will include apparel, footwear and accessories.', 'It will debut its initial collection this spring, with a global rollout planned for 2026.', 'It is not clear what exactly the products will look like or what items will be included in the initial collection.', ""The only image contained in Nike's announcement was a graphic of the new brand's logo."", ""Nike's partnership with Skims, the buzzy shapewear brand created by Kardashian and Swedish entrepreneur Jens Grede, the brand's CEO, comes as Nike looks to claw back the market share it has lost to upstart competitors and bring more women into the brand."", 'A new activewear line with the Skims name attached will give Nike an in with the types of shoppers who are buying activewear from Lululemon and newer competitors such as Alo Yoga and Vuori, which cater more to women than Nike currently does.', 'Nike has said previously that about 40% of its customers are women, but most apparel brands prefer to have more female consumers than male because they tend to shop more and spend more on clothes.', ""Plus, this gender gap has allowed Nike's competitors to get a foothold in the athletic apparel business, which could be a growth opportunity for the sneaker giant."", 'In fiscal 2024, apparel only represented about 28% of Nike brand revenue.', 'Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades.', 'The campaign, called ""So Win,"" highlights female athletes such as gymnast Jordan Chiles and Women\'s National Basketball Association stars Caitlin Clark and Sabrina Ionescu.', ""The spot touched on the challenges women have faced in sports and called on them to win, even though they have been told what they can't do and who they shouldn't be."", ""The campaign made it clear that reaching female athletes and capturing the buzz currently surrounding women's sports will be a focal point of Nike's strategy under its new CEO Elliott Hill."", 'Not only will the Skims partnership allow Nike to better compete for women, but it will also bring in a new product line at a time when the company has been accused of falling behind on innovation and churning out the same legacy styles that are no longer exciting to consumers.', 'For Skims, which was last valued at $4 billion, the Nike partnership and access to its manufacturing and development capabilities brings a growth opportunity for a brand that is popular but still relatively small compared to competitors.', ""Other intimates brands, such as Victoria's Secret, have tried and largely failed to branch into activewear, so Skims might be able to prove itself a winner in the space with Nike by its side."", 'Plus, it bodes well for an initial public offering, which Skims has been considering.', 'If Skims can show that it has more growth opportunities and a strategic partner like Nike, a public debut will be an easier sell to investors who are cautious on consumer companies amid tariff concerns, persistent inflation and a pullback on discretionary spending.', 'Grede has said previously that the retailer deserves to be a public company, but he told WWD in December that it has not yet made a decision on an IPO.']",0.3314994064443706,"If Skims can show that it has more growth opportunities and a strategic partner like Nike, a public debut will be an easier sell to investors who are cautious on consumer companies amid tariff concerns, persistent inflation and a pullback on discretionary spending.",,0.9979693359798856,"For Skims, which was last valued at $4 billion, the Nike partnership and access to its manufacturing and development capabilities brings a growth opportunity for a brand that is popular but still relatively small compared to competitors.",,2025-02-25
"UnitedHealthcare is offering buyouts to employees in benefits unit, could pursue layoffs, sources say",https://www.cnbc.com/2025/02/19/unitedhealthcare-offers-buyouts-could-pursue-layoffs.html,2025-02-19T21:52:39+0000,"In this articleUnitedHealthcare is offering certain employees in its benefits operations unit the option to accept buyouts if they quit by March 3, following a tumultuous year for the insurance giant, CNBC has learned.Those who don't accept the offer will continue in either their current role or a comparable position, two people familiar with the matter told CNBC. If the company does not meet a resignation quota through buyouts, it will lay off employees, the people said, citing an internal resource site. The company declined to share how many employees received buyout offers under the so-called Voluntary Resignation Separation Program. The benefits operations unit oversees multiple subdivisions that help manage customer service, claims, enrollment, customers' insurance benefits and more, one person said.  UnitedHealthcare, the insurance arm of UnitedHealth Group, is the largest private health insurer in the U.S. UnitedHealth Group had more than 440,000 employees as of December 2023, but it does not disclose how many people work in its benefits segment or overall insurance business.UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its roughly $460 billion market cap, but it has tried to cut costs as medical expenses increase for Medicare Advantage beneficiaries and it deals with the fallout from the costly cyberattack against its subsidiary Change Healthcare. It has also faced renewed anger over high health-care costs in the U.S., following the killing of its insurance unit CEO Brian Thompson in December.Employees eligible for the buyouts include full-time or part-time U.S. workers assigned to four internal segments under benefits operations, including corporate, consumer operations, core services and provider services, according to an internal memo sent Monday and viewed by CNBC.""This voluntary option is part of our ongoing efforts to ensure our team is best positioned to meet the evolving needs of the people and customers we are honored to serve,"" a UnitedHealth spokesperson told CNBC in a statement. ""We continue to grow our workforce with more than 3,200 positions currently available on UnitedHealth Group's careers site.""The company expects employees' termination date to be no sooner than May 1, according to the memo. The memo said some employees who accept buyouts may need to work beyond that date, but the company does not expect to require them to work past Nov. 13. Their severance packages will depend on the number of years they have spent at the company and their salary grade, and will kick in on their termination date, the memo said. The benefits provided to employees included in any potential future layoffs may not be ""as favorable"" as those offered to workers under the buyout program, according to the memo. Workers who received the buyout offers are in shock, said the people familiar with the matter, especially after UnitedHealth Group reported its highest-ever annual revenue in 2024. The company said in its January earnings release that it generated $400.3 billion in revenue in 2024, up 8% year over year.UnitedHealth executives said during the company's fourth-quarter call in January that ""digital adoption"" helped the company lower costs. CEO Andrew Witty called it a ""modernization agenda"" which includes but isn't limited to artificial intelligence.He added that UnitedHealth is ""just kind of scratching the surface of the opportunity."" Workers were informed about the buyouts Monday during a meeting that lasted around 10 minutes and were told they will have the opportunity to ask questions in information sessions in the coming days, the people said. The buyouts follow the shooting of Thompson, which unleashed a torrent of pent-up anger and resentment toward the insurance industry and renewed calls for reform. That came only months after Change Healthcare, which processes medical claims, was hit by a cyberattack in February 2024 that compromised the protected health information of around 190 million people. UnitedHealth Group has paid out more than $3 billion to providers affected by the cyberattack. UnitedHealth Group also laid off workers in its Optum health services division last year. Shares of the company closed up 2% on Wednesday.",CNBC,19/02/2025,"['In this articleUnitedHealthcare is offering certain employees in its benefits operations unit the option to accept buyouts if they quit by March 3, following a tumultuous year for the insurance giant, CNBC has learned.', ""Those who don't accept the offer will continue in either their current role or a comparable position, two people familiar with the matter told CNBC."", 'If the company does not meet a resignation quota through buyouts, it will lay off employees, the people said, citing an internal resource site.', 'The company declined to share how many employees received buyout offers under the so-called Voluntary Resignation Separation Program.', ""The benefits operations unit oversees multiple subdivisions that help manage customer service, claims, enrollment, customers' insurance benefits and more, one person said."", 'UnitedHealthcare, the insurance arm of UnitedHealth Group, is the largest private health insurer in the U.S. UnitedHealth Group had more than 440,000 employees as of December 2023, but it does not disclose how many people work in its benefits segment or overall insurance business.', 'UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its roughly $460 billion market cap, but it has tried to cut costs as medical expenses increase for Medicare Advantage beneficiaries and it deals with the fallout from the costly cyberattack against its subsidiary Change Healthcare.', 'It has also faced renewed anger over high health-care costs in the U.S., following the killing of its insurance unit CEO Brian Thompson in December.', 'Employees eligible for the buyouts include full-time or part-time U.S. workers assigned to four internal segments under benefits operations, including corporate, consumer operations, core services and provider services, according to an internal memo sent Monday and viewed by CNBC.""This voluntary option is part of our ongoing efforts to ensure our team is best positioned to meet the evolving needs of the people and customers we are honored to serve,"" a UnitedHealth spokesperson told CNBC in a statement. ""', ""We continue to grow our workforce with more than 3,200 positions currently available on UnitedHealth Group's careers site."", '""The company expects employees\' termination date to be no sooner than May 1, according to the memo.', 'The memo said some employees who accept buyouts may need to work beyond that date, but the company does not expect to require them to work past Nov. 13.Their severance packages will depend on the number of years they have spent at the company and their salary grade, and will kick in on their termination date, the memo said.', 'The benefits provided to employees included in any potential future layoffs may not be ""as favorable"" as those offered to workers under the buyout program, according to the memo.', 'Workers who received the buyout offers are in shock, said the people familiar with the matter, especially after UnitedHealth Group reported its highest-ever annual revenue in 2024.', 'The company said in its January earnings release that it generated $400.3 billion in revenue in 2024, up 8% year over year.', 'UnitedHealth executives said during the company\'s fourth-quarter call in January that ""digital adoption"" helped the company lower costs.', 'CEO Andrew Witty called it a ""modernization agenda"" which includes but isn\'t limited to artificial intelligence.', 'He added that UnitedHealth is ""just kind of scratching the surface of the opportunity.', '""Workers were informed about the buyouts Monday during a meeting that lasted around 10 minutes and were told they will have the opportunity to ask questions in information sessions in the coming days, the people said.', 'The buyouts follow the shooting of Thompson, which unleashed a torrent of pent-up anger and resentment toward the insurance industry and renewed calls for reform.', 'That came only months after Change Healthcare, which processes medical claims, was hit by a cyberattack in February 2024 that compromised the protected health information of around 190 million people.', 'UnitedHealth Group has paid out more than $3 billion to providers affected by the cyberattack.', 'UnitedHealth Group also laid off workers in its Optum health services division last year.', 'Shares of the company closed up 2% on Wednesday.']",0.2134847735261157,"Employees eligible for the buyouts include full-time or part-time U.S. workers assigned to four internal segments under benefits operations, including corporate, consumer operations, core services and provider services, according to an internal memo sent Monday and viewed by CNBC.""This voluntary option is part of our ongoing efforts to ensure our team is best positioned to meet the evolving needs of the people and customers we are honored to serve,"" a UnitedHealth spokesperson told CNBC in a statement. ""","The buyouts follow the shooting of Thompson, which unleashed a torrent of pent-up anger and resentment toward the insurance industry and renewed calls for reform.",0.1756050537029902,"The company said in its January earnings release that it generated $400.3 billion in revenue in 2024, up 8% year over year.","It has also faced renewed anger over high health-care costs in the U.S., following the killing of its insurance unit CEO Brian Thompson in December.",2025-02-25
"Rivian beats Wall Street's fourth-quarter expectations, but expects lower deliveries in 2025",https://www.cnbc.com/2025/02/20/rivian-rivn-earnings-q4-2024.html,2025-02-24T18:09:56+0000,"In this articleRivian Automotive beat Wall Street's fourth-quarter earnings expectations and achieved its first gross quarterly profit — a target closely watched by investors — but is forecasting lower sales in 2025.The electric vehicle maker reported a gross profit, which includes production and sales but does not factor in other expenses, of $170 million during the final quarter of last year. Rivian said it plans to achieve another ""modest gross profit"" in 2025. It has not said when it expects to be profitable on a GAAP basis.For 2025, Rivian also expects to narrow its adjusted losses to a range of $1.7 billion to $1.9 billion, down from a loss of $2.69 billion in 2024. The company forecast deliveries of 46,000 units to 51,000 units for 2025, compared with 51,579 vehicles delivered last year.Shares of Rivian were up about 7% during after-hours trading Thursday before leveling off during the company's quarterly earnings call. The stock closed at $13.61 a share, down 2.3%.Rivian CEO RJ Scaringe told CNBC that there is ""a lot of uncertainty"" surrounding the automotive industry, specifically the potential removal of federal incentives for EVs and tariff policies that could affect the company.""We believe external factors could impact our 2025 expectations, including changes to government policies and regulations, and a challenging demand environment. While uncertainties persist, we remain focused on executing against our key value drivers and are confident in electrifying the world in the long term,"" Rivian said Thursday in a shareholder letter.For its 2025 guidance, Rivian Chief Financial Officer Claire McDonough said the company took into account ""hundreds of millions"" of dollars in expected hits to its EBITDA as a result of less sales due to an expected removal of tax credits.Rivian said it expects capital expenditures this year to be between $1.6 billion and $1.7 billion, up from $1.41 billion last year as it prepares to launch its new ""R2"" midsize vehicles in 2026. The company said it expects to idle its sole auto plant in Normal, Illinois, during the second half of the year to retool for the new vehicles.""We believe R2 will be truly transformative for our growth and profitability,"" McDonough told investors during the earnings call.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Beginning this quarterly report, Rivian is breaking out its ""Automotive"" and ""Software and Services"" units for additional transparency for investors. The automaker has plans to continue to grow its software business, including a new joint venture with German automaker Volkswagen.Rivian's quarterly gross profit and revenue were helped by $299 million from the sale of regulatory credits, as well as $214 million in software and services revenue. Rivian sells regulatory credits to other automakers to help them meet emissions standards, however future sales could be affected by changes to such regulations by the Trump administration.The company's net loss for the fourth quarter was $743 million, or 70 cents per share, compared to a loss of $1.52 billion, or $1.58 per share, during the same period a year earlier.For the full year, Rivian lost $4.75 billion, or $4.69 per share.Rivian's 2024 revenue was $4.97 billion, up roughly 12% from $4.43 billion in 2023. Fourth-quarter revenue was up more than 31% from the prior-year period.",CNBC,24/02/2025,"[""In this articleRivian Automotive beat Wall Street's fourth-quarter earnings expectations and achieved its first gross quarterly profit — a target closely watched by investors — but is forecasting lower sales in 2025.The electric vehicle maker reported a gross profit, which includes production and sales but does not factor in other expenses, of $170 million during the final quarter of last year."", 'Rivian said it plans to achieve another ""modest gross profit"" in 2025.', 'It has not said when it expects to be profitable on a GAAP basis.', 'For 2025, Rivian also expects to narrow its adjusted losses to a range of $1.7 billion to $1.9 billion, down from a loss of $2.69 billion in 2024.', 'The company forecast deliveries of 46,000 units to 51,000 units for 2025, compared with 51,579 vehicles delivered last year.', ""Shares of Rivian were up about 7% during after-hours trading Thursday before leveling off during the company's quarterly earnings call."", 'The stock closed at $13.61 a share, down 2.3%.Rivian CEO RJ Scaringe told CNBC that there is ""a lot of uncertainty"" surrounding the automotive industry, specifically the potential removal of federal incentives for EVs and tariff policies that could affect the company.', '""We believe external factors could impact our 2025 expectations, including changes to government policies and regulations, and a challenging demand environment.', 'While uncertainties persist, we remain focused on executing against our key value drivers and are confident in electrifying the world in the long term,"" Rivian said Thursday in a shareholder letter.', 'For its 2025 guidance, Rivian Chief Financial Officer Claire McDonough said the company took into account ""hundreds of millions"" of dollars in expected hits to its EBITDA as a result of less sales due to an expected removal of tax credits.', 'Rivian said it expects capital expenditures this year to be between $1.6 billion and $1.7 billion, up from $1.41 billion last year as it prepares to launch its new ""R2"" midsize vehicles in 2026.', 'The company said it expects to idle its sole auto plant in Normal, Illinois, during the second half of the year to retool for the new vehicles.', '""We believe R2 will be truly transformative for our growth and profitability,"" McDonough told investors during the earnings call.', 'Here\'s how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Beginning this quarterly report, Rivian is breaking out its ""Automotive"" and ""Software and Services"" units for additional transparency for investors.', 'The automaker has plans to continue to grow its software business, including anew joint venturewith German automaker Volkswagen.', ""Rivian's quarterly gross profit and revenue were helped by $299 million from the sale of regulatory credits, as well as $214 million in software and services revenue."", 'Rivian sells regulatory credits to other automakers to help them meet emissions standards, however future sales could be affected by changes to such regulations by the Trump administration.', ""The company's net loss for the fourth quarter was $743 million, or 70 cents per share, compared to a loss of $1.52 billion, or $1.58 per share, during the same period a year earlier."", 'For the full year, Rivian lost $4.75 billion, or $4.69 per share.', ""Rivian's 2024 revenue was $4.97 billion, up roughly 12% from $4.43 billion in 2023."", 'Fourth-quarter revenue was up more than 31% from the prior-year period.']",0.129083947650311,"""We believe R2 will be truly transformative for our growth and profitability,"" McDonough told investors during the earnings call.","For 2025, Rivian also expects to narrow its adjusted losses to a range of $1.7 billion to $1.9 billion, down from a loss of $2.69 billion in 2024.",0.46401513616244,"Rivian's 2024 revenue was $4.97 billion, up roughly 12% from $4.43 billion in 2023.","For its 2025 guidance, Rivian Chief Financial Officer Claire McDonough said the company took into account ""hundreds of millions"" of dollars in expected hits to its EBITDA as a result of less sales due to an expected removal of tax credits.",2025-02-25
"UnitedHealth's rough stretch continues, with buyouts, a reported DOJ probe and a 23% drop in three months",https://www.cnbc.com/2025/02/21/unitedhealth-faces-doj-investigation-buyouts-stock-price-drop.html,2025-02-21T20:56:28+0000,"In this articleUnitedHealthcare is in hot water again as the insurance giant grapples with a reported government investigation of its Medicare billing practices, pursues employee buyouts and potential layoffs, and clashes publicly with billionaire Bill Ackman.Those developments in recent days extend a tumultuous past year for its parent company, UnitedHealth Group, marked by the killing of a top executive, a costly cyberattack against its subsidiary and high medical costs in its insurance arm. UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its more than $420 billion market cap, and UnitedHealthcare is the nation's largest private insurer. Shares of UnitedHealth Group have tumbled more than 20% over the last three months.The stock also closed 7% lower on Friday following a report about the probe, which was first reported by The Wall Street Journal. The Department of Justice has launched a civil fraud investigation in recent months into UnitedHealth's billing practices for its Medicare Advantage plans, according to the newspaper.The probe specifically examines whether diagnoses were routinely made to trigger extra payments in those plans, including at physician groups the insurer owns, the Journal said. It comes after a series of articles from the newspaper last year, which reported that Medicare paid UnitedHealth billions of dollars for questionable diagnoses. Medicare Advantage plans are offered by private insurers who are paid a set rate by the government to manage health care for seniors looking for extra benefits not covered in traditional Medicare. Those plans have been a source of high medical costs across the broader insurance industry over the last year.  In a statement, UnitedHealth called the Journal's reporting ""misinformation"" and said the company consistently performs at the industry's ""highest levels"" when it comes to government compliance reviews of Medicare Advantage plans""Any suggestion that our practices are fraudulent is outrageous and false,"" the company said.In a research note Friday, RBC Capital Markets analyst Ben Hendrix called the reported investigation an ""incremental overhang"" but emphasized it will likely be a ""lengthy process and unlikely in our view to result in material financial headwinds in the near term."" He pointed to a probe the DOJ launched last year into the company's subsidiary Optum Rx for potential antitrust violations, which will similarly have an extended timeline before any resolution. Reports about the probe came two days after CNBC first reported that UnitedHealthcare is offering buyouts to employees and could pursue layoffs if resignation quotas aren't met. The move comes as the company tries to cut costs through efforts like leveraging digital technology. And earlier this month, Ackman, one of the world's most prominent investors, publicly pledged to cover the legal fees for a Texas doctor in a dispute with UnitedHealth Group over her claims that the company pulled her out of an operation to justify a patient's care.Ackman, who is CEO of Pershing Square Capital Management, later took down a post on X that was critical of the insurer after lawyers for UnitedHealth told him that the doctor's claims that he had amplified on social media were untrue. Ackman said he has no position in UnitedHealth. One of his earlier posts on the dispute called on the U.S. Securities and Exchange Commission to investigate the company and suggested that the insurer's ""profitability is massively overstated due to its denial of medically necessary procedures.""That's similar to the public blowback the company faced after the killing of UnitedHealthcare CEO Brian Thompson in December. It unleashed a wave of pent-up anger and resentment toward the insurance industry and renewed calls for reform to prevent denials of care.UnitedHealth is also still grappling with the fallout from a cyberattack on its subsidiary Change Healthcare, which processes medical claims. The cyberattack compromised the protected health information of around 190 million people, and UnitedHealth has paid out more than $3 billion to providers affected.UnitedHealth has said it became aware of the cyberattack a year ago to the day Friday.",CNBC,21/02/2025,"['In this articleUnitedHealthcare is in hot water again as the insurance giant grapples with a reported government investigation of its Medicare billing practices, pursues employee buyouts and potential layoffs, and clashes publicly with billionaire Bill Ackman.', 'Those developments in recent days extend a tumultuous past year for its parent company, UnitedHealth Group, marked by the killing of a top executive, a costly cyberattack against its subsidiary and high medical costs in its insurance arm.', ""UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its more than $420 billion market cap, and UnitedHealthcare is the nation's largest private insurer."", 'Shares of UnitedHealth Group have tumbled more than 20% over the last three months.', 'The stock also closed 7% lower on Friday following a report about the probe, which was first reported by The Wall Street Journal.', ""The Department of Justice has launched a civil fraud investigation in recent months into UnitedHealth's billing practices for its Medicare Advantage plans, according to the newspaper."", 'The probe specifically examines whether diagnoses were routinely made to trigger extra payments in those plans, including at physician groups the insurer owns, the Journal said.', 'It comes after a series of articles from the newspaper last year, which reported that Medicare paid UnitedHealth billions of dollars for questionable diagnoses.', 'Medicare Advantage plans are offered by private insurers who are paid a set rate by the government to manage health care for seniors looking for extra benefits not covered in traditional Medicare.', 'Those plans have been a source of high medical costs across the broader insurance industry over the last year.', 'In a statement, UnitedHealth called the Journal\'s reporting ""misinformation"" and said the company consistently performs at the industry\'s ""highest levels"" when it comes to government compliance reviews of Medicare Advantage plans""Any suggestion that our practices are fraudulent is outrageous and false,"" the company said.', 'In a research note Friday, RBC Capital Markets analyst Ben Hendrix called the reported investigation an ""incremental overhang"" but emphasized it will likely be a ""lengthy process and unlikely in our view to result in material financial headwinds in the near term.""', ""He pointed to a probe the DOJ launched last year into the company's subsidiary Optum Rx for potential antitrust violations, which will similarly have an extended timeline before any resolution."", ""Reports about the probe came two days after CNBC first reported that UnitedHealthcare is offering buyouts to employees and could pursue layoffs if resignation quotas aren't met."", 'The move comes as the company tries to cut costs through efforts like leveraging digital technology.', ""And earlier this month, Ackman, one of the world's most prominent investors, publicly pledged to cover the legal fees for a Texas doctor in a dispute with UnitedHealth Group over her claims that the company pulled her out of an operation to justify a patient's care."", ""Ackman, who is CEO of Pershing Square Capital Management, later took down a post on X that was critical of the insurer after lawyers for UnitedHealth told him that the doctor's claims that he had amplified on social media were untrue."", 'Ackman said he has no position in UnitedHealth.', 'One of his earlier posts on the dispute called on the U.S. Securities and Exchange Commission to investigate the company and suggested that the insurer\'s ""profitability is massively overstated due to its denial of medically necessary procedures.', '""That\'s similar to the public blowback the company faced after the killing of UnitedHealthcare CEO Brian Thompson in December.', 'It unleashed a wave of pent-up anger and resentment toward the insurance industry and renewed calls for reform to prevent denials of care.', 'UnitedHealth is also still grappling with the fallout from a cyberattack on its subsidiary Change Healthcare, which processes medical claims.', 'The cyberattack compromised the protected health information of around 190 million people, and UnitedHealth has paid out more than $3 billion to providers affected.', 'UnitedHealth has said it became aware of the cyberattack a year ago to the day Friday.']",-0.0587352171872444,Medicare Advantage plans are offered by private insurers who are paid a set rate by the government to manage health care for seniors looking for extra benefits not covered in traditional Medicare.,"In a statement, UnitedHealth called the Journal's reporting ""misinformation"" and said the company consistently performs at the industry's ""highest levels"" when it comes to government compliance reviews of Medicare Advantage plans""Any suggestion that our practices are fraudulent is outrageous and false,"" the company said.",-0.744643170099992,The move comes as the company tries to cut costs through efforts like leveraging digital technology.,Shares of UnitedHealth Group have tumbled more than 20% over the last three months.,2025-02-25
"Starbucks to lay off 1,100 corporate workers as sales sag",https://www.cnbc.com/2025/02/24/starbucks-to-lay-off-1100-corporate-workers.html,2025-02-24T14:35:45+0000,"In this articleStarbucks will lay off 1,100 corporate employees and will not fill several hundred other open positions, the coffee chain's CEO, Brian Niccol, said Monday.The cuts will not affect workers at the company's cafes.In a message to corporate employees, Niccol said Starbucks is ""simplifying our structure, removing layers and duplication and creating smaller, more nimble teams.""""Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,"" Niccol wrote. ""All with the goal of being more focused and able to drive greater impact on our priorities."" The layoffs come as Starbucks tries to draw coffee drinkers back to its cafes after same-store sales declined for four straight quarters. As customers turn to cheaper rivals in Starbucks' two largest markets, the U.S. and China, Niccol has tried to revamp operations since he took the helm of the company last year, including by speeding up service.Starbucks had about 16,000 employees who work outside of store locations as of last year. The cuts will affect people who work in corporate support, but not roasting, manufacturing, warehousing and distribution.",CNBC,24/02/2025,"[""In this articleStarbucks will lay off 1,100 corporate employees and will not fill several hundred other open positions, the coffee chain's CEO, Brian Niccol, said Monday."", ""The cuts will not affect workers at the company's cafes."", 'In a message to corporate employees, Niccol said Starbucks is ""simplifying our structure, removing layers and duplication and creating smaller, more nimble teams.', '""""Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,"" Niccol wrote. ""', 'All with the goal of being more focused and able to drive greater impact on our priorities.', '""The layoffs come as Starbucks tries to draw coffee drinkers back to its cafes after same-store sales declined for four straight quarters.', ""As customers turn to cheaper rivals in Starbucks' two largest markets, the U.S. and China, Niccol has tried to revamp operations since he took the helm of the company last year, including by speeding up service."", 'Starbucks had about 16,000 employees who work outside of store locations as of last year.', 'The cuts will affect people who work in corporate support, but not roasting, manufacturing, warehousing and distribution.']",0.1961329182618708,"""""Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,"" Niccol wrote. """,The cuts will not affect workers at the company's cafes.,0.5956955790519715,"""""Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,"" Niccol wrote. ""","""The layoffs come as Starbucks tries to draw coffee drinkers back to its cafes after same-store sales declined for four straight quarters.",2025-02-25
KFC moves U.S. headquarters from Kentucky to Texas,https://www.cnbc.com/2025/02/18/kfc-moves-us-headquarters-from-kentucky-to-texas.html,2025-02-18T20:44:58+0000,"In this articleKFC is leaving Kentucky.The fried chicken chain's U.S. headquarters will move from Louisville, Kentucky, to Plano, Texas, owner Yum Brands said Tuesday.About 100 KFC U.S. employees will be required to relocate over the next six months.The relocation is part of Yum's broader plan to have two corporate headquarters: one in Plano, the other in Irvine, California. KFC and Pizza Hut's global teams are already based in Plano, while Taco Bell and the Habit Burger & Grill's teams are located in Irvine.Additionally, Yum's U.S. remote workforce, roughly 90 workers, will also be asked to move to the campus where their work is based.But Yum isn't entirely abandoning Kentucky. The company and the KFC Foundation plan to maintain corporate offices in Louisville. Plus, KFC still plans to build a new flagship restaurant in its former hometown.Since the Covid-19 pandemic, many employers have been rethinking the location of their corporate headquarters, often spurred to move because of lower taxes and changes to office space needs due to the hybrid or remote workforce. With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta. It later canceled plans to sell its old headquarters, instead opting to hold on to the building for the corporate workers who stayed in Louisville.",CNBC,18/02/2025,"['In this articleKFC is leaving Kentucky.', ""The fried chicken chain's U.S. headquarters will move from Louisville, Kentucky, to Plano, Texas, owner Yum Brands said Tuesday."", 'About 100 KFC U.S. employees will be required to relocate over the next six months.', ""The relocation is part of Yum's broader plan to have two corporate headquarters: one in Plano, the other in Irvine, California."", ""KFC and Pizza Hut's global teams are already based in Plano, while Taco Bell and the Habit Burger & Grill's teams are located in Irvine."", ""Additionally, Yum's U.S. remote workforce, roughly 90 workers, will also be asked to move to the campus where their work is based."", ""But Yum isn't entirely abandoning Kentucky."", 'The company and the KFC Foundation plan to maintain corporate offices in Louisville.', 'Plus, KFC still plans to build a new flagship restaurant in its former hometown.', 'Since the Covid-19 pandemic, many employers have been rethinking the location of their corporate headquarters, often spurred to move because of lower taxes and changes to office space needs due to the hybrid or remote workforce.', 'With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta.', 'It later canceled plans to sell its old headquarters, instead opting to hold on to the building for the corporate workers who stayed in Louisville.']",-0.0035000290756973,"With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta.",But Yum isn't entirely abandoning Kentucky.,0.7785136699676514,"With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta.",,2025-02-25
ESPN plans to add user-generated content to upcoming 'flagship' streaming service,https://www.cnbc.com/2025/02/20/espn-flagship-streaming-service-user-generated-content.html,2025-02-20T16:21:06+0000,"In this articleIn an attempt to court younger audiences, Disney's ESPN is planning to add some user-generated content to its yet-to-be-named flagship streaming service, which will debut later this year.While the details are still unclear, ESPN will allow subscribers to post their own content at some point in the application's evolution, according to people familiar with the matter. The technology likely won't be available at launch, which the company hopes will occur before the National Football League season begins in September. An ESPN spokesperson declined to comment.Disney executives have also considered adding user-generated content to Disney+ and discuss YouTube's influence on streaming on a near daily basis, CNBC reported last year.Alphabet's YouTube, which leans heavily on creator-led content, is the most popular streaming service with an 11.1% share of total TV usage in the U.S., according to Nielsen.ESPN executives are targeting a price of either $25 per month or $30 per month for the ESPN streaming service, which will include all of ESPN's linear programming plus other digital add-ons, the people said.The company plans to announce a name for the service, a price and a launch date in the coming months, the people said.Media and professional sports league executives are focusing on how to capture the attention of younger viewers that are opting to watch YouTube or TikTok over live games. ESPN spends tens of billions of dollars each year on the media rights for live sports.For more details on this story and others, subscribe to the CNBC Sport newsletter. This week's edition can be found here.The CNBC Sport newsletter with Alex Sherman brings you the biggest news and exclusive interviews from the worlds of sports business and media, delivered weekly to your inbox.Subscribe here to get access today.",CNBC,20/02/2025,"[""In this articleIn an attempt to court younger audiences, Disney's ESPN is planning to add some user-generated content to its yet-to-be-named flagship streaming service, which will debut later this year."", ""While the details are still unclear, ESPN will allow subscribers to post their own content at some point in the application's evolution, according to people familiar with the matter."", ""The technology likely won't be available at launch, which the company hopes will occur before the National Football League season begins in September."", 'An ESPN spokesperson declined to comment.', ""Disney executives have also considered adding user-generated content to Disney+ and discuss YouTube's influence on streaming on a near daily basis, CNBC reported last year."", ""Alphabet's YouTube, which leans heavily on creator-led content, is the most popular streaming service with an 11.1% share of total TV usage in the U.S., according to Nielsen."", ""ESPN executives are targeting a price of either $25 per month or $30 per month for the ESPN streaming service, which will include all of ESPN's linear programming plus other digital add-ons, the people said."", 'The company plans to announce a name for the service, a price and a launch date in the coming months, the people said.', 'Media and professional sports league executives are focusing on how to capture the attention of younger viewers that are opting to watch YouTube or TikTok over live games.', 'ESPN spends tens of billions of dollars each year on the media rights for live sports.', 'For more details on this story and others, subscribe to the CNBC Sport newsletter.', ""This week's edition can be found here."", 'The CNBC Sport newsletter with Alex Sherman brings you the biggest news and exclusive interviews from the worlds of sports business and media, delivered weekly to your inbox.', 'Subscribe here to get access today.']",0.0928565795323072,"Alphabet's YouTube, which leans heavily on creator-led content, is the most popular streaming service with an 11.1% share of total TV usage in the U.S., according to Nielsen.",,,,,2025-02-25
"Forever 21 is in talks with liquidators, indicating it's struggling to find a buyer",https://www.cnbc.com/2025/02/19/forever-21-talking-to-liquidators-mulling-second-bankruptcy.html,2025-02-19T22:09:47+0000,"Beleaguered retailer Forever 21 is in talks with liquidators about future steps for the fast fashion company, according to people familiar with the matter — a sign that it's struggling to find a buyer as it mulls a second bankruptcy filing.The company has been looking for a buyer for its U.S. leases and assets to stave off extinction, the people said, and in early January announced it was exploring strategic options. However, opening up the discussion to include liquidators gives Forever 21 the option to use those proceeds to pay back creditors if it can't find a buyer.Forever 21's struggles are primarily in its U.S. business, said one of the people. Its intellectual property, such as its brand name, is not up for sale, the person added. Brand management firm Authentic Brands Group currently owns Forever 21's IP, and a separate entity operates the company.It could be difficult for Forever 21 to find a buyer that could successfully turn around the brand in its current form as it contends with heightened competition from Chinese e-tailers Shein and Temu; higher tariffs; and the loss of its cool factor, said the people, some of whom saw the company's books. The people spoke to CNBC on the condition of anonymity due to the sensitive nature of the discussions.Forever 21 has also long struggled with profitability and has faced difficulties with managing inventory and reining in costs, some of the people said.It's unclear if Forever 21 has hired a liquidator yet, and, even if it does, whether it will ultimately move in that direction. The retailer could still find a buyer, for some or all of its assets, or make a deal with creditors to avoid liquidation. Further, while Forever 21's stores and assets could liquidate, Authentic Brands Group could eventually bring it back in a different form.Forever 21 declined to comment. BRG, the advisory firm it's reportedly working with for restructuring assistance, didn't return a request for comment.The discussions come months after CNBC reported that Forever 21 was having financial difficulties and asking landlords to cut its rent by as much as 50% in some locations as it looked to rein in costs. It wasn't yet considering a second bankruptcy filing at the time, but its position has worsened in the months since. Its partnership with its rival-turned-partner Shein has also been a mixed bag, with the CEO Authentic Brands Group Jamie Salter calling it a work in progress last year during a presentation. As Forever 21's efforts to cut costs and boost sales have faltered, the company is now considering a second bankruptcy filing, the people said, confirming what the The Wall Street Journal earlier reported.Forever 21 filed for bankruptcy protection in 2019, and was later bought by a consortium including Authentic Brands Group and landlords Simon Property Group and Brookfield Property Partners.The company's first trip through Chapter 11 allowed it to restructure its balance sheet and end a number of costly leases, but in the years since, it hasn't managed to fix its business and adapt to new competitive threats. Once one of fast fashion's heavyweights, Forever 21 has been all but replaced by the category's new titans: Shein and Temu. The online-only companies have technology and artificial intelligence embedded into their operating models and aren't encumbered by costly stores. They've become adept at recognizing and responding to consumer trends at speeds so fast the rest of the retail industry has struggled to keep up. Since Shein previously partnered with Forever 21, some industry observers have questioned if the e-tailer would take over its stores. Acquiring some of Forever 21's assets could help further legitimize Shein in the U.S. and globally as it pursues a public listing in London, but one person close to the company previously said that was unlikely because of its inexperience in physical retail.Under Shein's partnership with Forever 21, the Chinese retailer had taken a stake in Forever 21's operator Sparc Group, which reorganized last month. The reorganization merged Sparc with JC Penney to form a new company dubbed Catalyst Brands.Forever 21's struggles indicate how much the category has evolved over the last few years and how difficult it is for others, especially those with large store footprints, to survive in the new landscape. The amplified competition from Shein and Temu, and the havoc the e-tailers are causing for retailers, is similar to the rise of Amazon in decades past, which contributed to an onslaught of retailer bankruptcy filings and liquidations.It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.However, since Authentic Brands already owns Forever 21's intellectual property, it's unclear who would be interested in acquiring the retailer, said Sarah Foss, a restructuring attorney and Debtwire's head of legal. Authentic Brands and similar firms are often first in line to acquire intellectual property of companies headed for a bankruptcy filing.""Those are often the front runners we're seeing in some of these retail bankruptcies,"" said Foss. ""So it'd be interesting to see who comes forward to buy Forever 21, or pieces of it."" — Additional reporting by CNBC's Lillian Rizzo",CNBC,19/02/2025,"[""Beleaguered retailer Forever 21 is in talks with liquidators about future steps for the fast fashion company, according to people familiar with the matter — a sign that it's struggling to find a buyer as it mulls a second bankruptcy filing."", 'The company has been looking for a buyer for its U.S. leases and assets to stave off extinction, the people said, and in early January announced it was exploring strategic options.', ""However, opening up the discussion to include liquidators gives Forever 21 the option to use those proceeds to pay back creditors if it can't find a buyer."", ""Forever 21's struggles are primarily in its U.S. business,said one of the people."", 'Its intellectual property, such as its brand name, is not up for sale,the person added.', ""Brand management firm Authentic Brands Group currently owns Forever 21's IP, and a separate entity operates the company."", ""It could be difficult for Forever 21 to find a buyer that could successfully turn around the brand in its current form as it contends with heightened competition from Chinese e-tailers Shein and Temu; higher tariffs; and the loss of its cool factor, said the people, some of whom saw the company's books."", 'The people spoke to CNBC on the condition of anonymity due to the sensitive nature of the discussions.', 'Forever 21 has also long struggled with profitability and has faced difficulties with managing inventory and reining in costs, some of the people said.', ""It's unclear if Forever 21 has hired a liquidator yet, and, even if it does, whether it will ultimately move in that direction."", 'The retailer could still find a buyer, for some or all of its assets, or make a deal with creditors to avoid liquidation.', ""Further, while Forever 21's stores and assets could liquidate, Authentic Brands Group could eventually bring it back in a different form."", 'Forever 21 declined to comment.', ""BRG, the advisory firm it's reportedly working with for restructuring assistance, didn't return a request for comment."", 'The discussions come months after CNBC reported that Forever 21 was having financial difficulties and asking landlords to cut its rent by as much as 50% in some locations as it looked to rein in costs.', ""It wasn't yet considering a second bankruptcy filing at the time, but its position has worsened in the months since."", 'Its partnership with its rival-turned-partner Shein has also been a mixed bag, with the CEO Authentic Brands Group Jamie Salter calling it a work in progress last year during a presentation.', ""As Forever 21's efforts to cut costs and boost sales have faltered, the company is now considering a second bankruptcy filing, the people said, confirming what the The Wall Street Journal earlier reported."", 'Forever 21 filed for bankruptcy protection in 2019, and was later bought by a consortium including Authentic Brands Group and landlords Simon Property Group and Brookfield Property Partners.', ""The company's first trip through Chapter 11 allowed it to restructure its balance sheet and end a number of costly leases, but in the years since, it hasn't managed to fix its business and adapt to new competitive threats."", ""Once one of fast fashion's heavyweights, Forever 21 has been all but replaced by the category's new titans: Shein and Temu."", ""The online-only companies have technology and artificial intelligence embedded into their operating models and aren't encumbered by costly stores."", ""They've become adept at recognizing and responding to consumer trends at speeds so fast the rest of the retail industry has struggled to keep up."", 'Since Shein previously partnered with Forever 21, some industry observers have questioned if the e-tailer would take over its stores.', ""Acquiring some of Forever 21's assets could help further legitimize Shein in the U.S. and globally as it pursues a public listing in London, but one person close to the company previously said that was unlikely because of its inexperience in physical retail."", ""Under Shein's partnership with Forever 21, the Chinese retailer had taken a stake in Forever 21's operator Sparc Group, which reorganized last month."", 'The reorganization merged Sparc with JC Penney to form a new company dubbed Catalyst Brands.', ""Forever 21's struggles indicate how much the category has evolved over the last few years and how difficult it is for others, especially those with large store footprints, to survive in the new landscape."", 'The amplified competition from Shein and Temu, and the havoc the e-tailers are causing for retailers, is similar to the rise of Amazon in decades past, which contributed to an onslaught of retailer bankruptcy filings and liquidations.', 'It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.', ""However, since Authentic Brands already owns Forever 21's intellectual property, it's unclear who would be interested in acquiring the retailer, said Sarah Foss, a restructuring attorney and Debtwire's head of legal."", 'Authentic Brands and similar firms are often first in line to acquire intellectual property of companies headed for a bankruptcy filing.', '""Those are often the front runners we\'re seeing in some of these retail bankruptcies,"" said Foss. ""', 'So it\'d be interesting to see who comes forward to buy Forever 21, or pieces of it.""—', ""Additional reporting by CNBC's Lillian Rizzo""]",0.0012121017534411,"It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.","Forever 21's struggles indicate how much the category has evolved over the last few years and how difficult it is for others, especially those with large store footprints, to survive in the new landscape.",-0.4785215308268865,"It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.","Forever 21 has also long struggled with profitability and has faced difficulties with managing inventory and reining in costs, some of the people said.",2025-02-25
"Shortage of Novo Nordisk's Wegovy and Ozempic drugs is resolved, FDA says",https://www.cnbc.com/2025/02/21/fda-shortage-of-novo-nordisks-wegovy-and-ozempic-drugs-is-resolved.html,2025-02-21T20:57:12+0000,"In this articleThe long-running U.S. shortage of Novo Nordisk's blockbuster weight loss injection Wegovy and diabetes treatment Ozempic is resolved after more than two years, the U.S. Food and Drug Administration said Friday. The FDA's decision will threaten the ability of compounding pharmacies to make far cheaper, unbranded versions of the injections over the next few months. Many patients relied on unapproved versions of Wegovy and Ozempic since compounding pharmacies are allowed to make versions of branded medications in short supply. Novo Nordisk's stock closed about 5% higher on Friday. Meanwhile, shares of Hims & Hers, a telehealth company offering compounded Wegovy and Ozempic, fell more than 25%.The active ingredient in both of Novo Nordisk's injectable drugs, semaglutide, has been in shortage in the U.S. since 2022 after demand skyrocketed. That has forced Novo Nordisk and its rival Eli Lilly to invest heavily to expand their manufacturing footprints for their respective weight loss and diabetes drugs — and it may be paying off. The FDA determined that Novo Nordisk's supply and manufacturing capacity for semaglutide injections can now meet the current and projected demand in the U.S. Still, the agency noted that patients and prescribers may still see ""intermittent and limited localized supply disruptions"" as products move through the supply chain to pharmacies. ""We are pleased the FDA has declared that supply of the only real, FDA-approved semaglutide medicines is resolved,"" Dave Moore, Novo Nordisk's executive vice president of U.S. operations and global business development, said in a statement.He added that ""no one should have to compromise their health due to misinformation and reach for fake or illegitimate knockoff drugs that pose significant safety risks to patients.""The FDA's announcement comes just months after the agency declared the shortage of tirzepatide — the active ingredient in Eli Lilly's weight loss injection Zepbound and diabetes counterpart Mounjaro — was over. The FDA's decision on Friday could better position Novo Nordisk to compete with Eli Lilly in the booming weight loss drug market, which some analysts say could be worth more than $150 billion annually after 2030. The agency's decision, based on a comprehensive analysis, essentially marks the end of a period where compounding pharmacies could make, distribute or dispense unapproved versions of semaglutide without facing repercussions for violations related to the treatment's shortage status.Compounding pharmacies must stop making compounded versions of semaglutide in the next 60 to 90 days, depending on the type of facility, the agency said. That transition period will likely give patients time to switch to the branded versions of the medications. But, in compliance with FDA rules, compounders can still make alternative versions of the drugs if they modify doses, add other ingredients or change the method of giving the treatment to meet a specific patient's needs. Some patients rely on compounded versions because they do not have insurance coverage for Novo Nordisk's drugs and cannot afford their hefty price tags of roughly $1,000 a month. While Ozempic is covered by most health plans, weight loss drugs such as Wegovy are not currently covered by Medicare and other insurance.",CNBC,21/02/2025,"[""In this articleThe long-running U.S. shortage of Novo Nordisk's blockbuster weight loss injection Wegovy and diabetes treatment Ozempic is resolved after more than two years, the U.S. Food and Drug Administration said Friday."", ""The FDA's decision will threaten the ability of compounding pharmacies to make far cheaper, unbranded versions of the injections over the next few months."", 'Many patients relied on unapproved versions of Wegovy and Ozempic since compounding pharmacies are allowed to make versions of branded medications in short supply.', ""Novo Nordisk's stock closed about 5% higher on Friday."", ""Meanwhile, shares of Hims & Hers, a telehealth company offering compounded Wegovy and Ozempic, fell more than 25%.The active ingredient in both of Novo Nordisk's injectable drugs, semaglutide, has been in shortage in the U.S. since 2022 after demand skyrocketed."", 'That has forced Novo Nordisk and its rival Eli Lilly to invest heavily to expand their manufacturing footprints for their respective weight loss and diabetes drugs — and it may be paying off.', 'The FDA determined that Novo Nordisk\'s supply and manufacturing capacity for semaglutide injections can now meet the current and projected demand in the U.S. Still, the agency noted that patients and prescribers may still see ""intermittent and limited localized supply disruptions"" as products move through the supply chain to pharmacies.', '""We are pleased the FDA has declared that supply of the only real, FDA-approved semaglutide medicines is resolved,"" Dave Moore, Novo Nordisk\'s executive vice president of U.S. operations and global business development, said in a statement.', 'He added that ""no one should have to compromise their health due to misinformation and reach for fake or illegitimateknockoff drugs that pose significantsafety risks to patients.', '""The FDA\'s announcement comes just months after the agency declared the shortage of tirzepatide — the active ingredient in Eli Lilly\'s weight loss injection Zepbound and diabetes counterpart Mounjaro — was over.', ""The FDA's decision on Friday could better position Novo Nordisk to compete with Eli Lilly in the booming weight loss drug market, which some analysts say could be worth more than $150 billion annually after 2030.The agency's decision, based on a comprehensive analysis, essentially marks the end of a period where compounding pharmacies could make, distribute or dispense unapproved versions of semaglutide without facing repercussions for violations related to the treatment's shortage status."", 'Compounding pharmacies must stop making compounded versions of semaglutide in the next 60 to 90 days, depending on the type of facility, the agency said.', 'That transition period will likely give patients time to switch to the branded versions of the medications.', ""But, in compliance with FDA rules, compounders can still make alternative versions of the drugs if they modify doses, add other ingredients or change the method of giving the treatment to meet a specific patient's needs."", ""Some patients rely on compounded versions because they do not have insurance coverage for Novo Nordisk's drugs and cannot afford their hefty price tags of roughly $1,000 a month."", 'While Ozempic is covered by most health plans, weight loss drugs such as Wegovy are not currently covered by Medicare and other insurance.']",-0.0605526260757713,"""We are pleased the FDA has declared that supply of the only real, FDA-approved semaglutide medicines is resolved,"" Dave Moore, Novo Nordisk's executive vice president of U.S. operations and global business development, said in a statement.","He added that ""no one should have to compromise their health due to misinformation and reach for fake or illegitimateknockoff drugs that pose significantsafety risks to patients.",0.1456703941027323,That has forced Novo Nordisk and its rival Eli Lilly to invest heavily to expand their manufacturing footprints for their respective weight loss and diabetes drugs — and it may be paying off.,"Meanwhile, shares of Hims & Hers, a telehealth company offering compounded Wegovy and Ozempic, fell more than 25%.The active ingredient in both of Novo Nordisk's injectable drugs, semaglutide, has been in shortage in the U.S. since 2022 after demand skyrocketed.",2025-02-25
Yankees throw out one of baseball's most notorious traditions: Players can now grow beards,https://www.cnbc.com/2025/02/21/ny-yankees-beard-ban-is-over.html,2025-02-21T17:25:42+0000,"Start spreading the news: For the first time in nearly 50 years, the New York Yankees are allowing players to grow beards.In a statement Friday, Yankees owner Hal Steinbrenner said he spoke to former and current players about the long-standing policy preventing most facial hair and has decided the team will now permit ""well-groomed beards.""""These most recent conversations are an extension of ongoing internal dialogue that dates back several years,"" Steinbrenner wrote. ""It is the appropriate time to move beyond the familiar comfort of our former policy.""The news comes days after pitcher Devin Williams, whom the Yankees acquired from the Milwaukee Brewers during the offseason, sported some forbidden facial hair in an official team photo. Williams previously maintained a beard during his time with the Brewers.The Yankees' facial hair policy was first implemented by George Steinbrenner, the former Yankees owner and father of Hal Steinbrenner, in the 1970s. The policy banned any facial hair other than mustaches, with exceptions for religious reasons, and scalp hair below the collar for players, coaches and male executives.George Steinbrenner, who died in 2010, justified the rule as a way of instilling discipline in the team, reportedly telling The New York Times in 1978 that he wanted to ""to develop pride in the players as Yankees.""Since then, all players have abided by the policy, though not without some resistance. Famously, Yankees captain Don Mattingly was benched in 1991 for refusing to get a haircut, an incident mocked on a 1992 episode of ""The Simpsons."" Former Yankee Andrew McCutchen said in 2020 that it would have been difficult for him to join the team when he still had dreadlocks, which he wore during the early years of his career with the Pittsburgh Pirates, and called on the franchise to change the rule.The tradition has also turned some prospective Yankees away. General manager Brian Cashman said in 2013 that he ruled out trading for relief pitcher Brian Wilson because Wilson refused to shave his beard. Pitcher David Price said in 2013 that he did not want to play for the Yankees due to the policy.Many past and present players got rid of their beards when they joined the Yankees from another team, including Gerrit Cole, Johnny Damon and current offseason acquisitions Paul Goldschmidt and Cody Bellinger.",CNBC,21/02/2025,"['Start spreading the news: For the first time in nearly 50 years, the New York Yankees are allowing players to grow beards.', 'In a statement Friday, Yankees owner Hal Steinbrenner said he spoke to former and current players about the long-standing policy preventing most facial hair and has decided the team will now permit ""well-groomed beards.', '""""These most recent conversations are an extension of ongoing internal dialogue that dates back several years,"" Steinbrenner wrote. ""', 'It is the appropriate time to move beyond the familiar comfort of our former policy.', '""The news comes days after pitcher Devin Williams, whom the Yankees acquired from the Milwaukee Brewers during the offseason, sported some forbidden facial hair in an official team photo.', 'Williams previously maintained a beard during his time with the Brewers.', ""The Yankees' facial hair policy was first implemented by George Steinbrenner, the former Yankees owner and father of Hal Steinbrenner, in the 1970s."", 'The policy banned any facial hair other than mustaches, with exceptions for religious reasons, and scalp hair below the collar for players, coaches and male executives.', 'George Steinbrenner, who died in 2010, justified the rule as a way of instilling discipline in the team, reportedly telling The New York Times in 1978 that he wanted to ""to develop pride in the players as Yankees.', '""Since then, all players have abided by the policy, though not without some resistance.', 'Famously, Yankees captain Don Mattingly was benched in 1991 for refusing to get a haircut, an incident mocked on a 1992 episode of ""The Simpsons.""', 'Former Yankee Andrew McCutchen said in 2020 that it would have been difficult for him to join the team when he still had dreadlocks, which he wore during the early years of his career with the Pittsburgh Pirates, and called on the franchise to change the rule.', 'The tradition has also turned some prospective Yankees away.', 'General manager Brian Cashman said in 2013 that he ruled out trading for relief pitcher Brian Wilson because Wilson refused to shave his beard.', 'Pitcher David Price said in 2013 that he did not want to play for the Yankees due to the policy.', 'Many past and present players got rid of their beards when they joined the Yankees from another team, including Gerrit Cole, Johnny Damon and current offseason acquisitions Paul Goldschmidt and Cody Bellinger.']",-0.0602555153607416,It is the appropriate time to move beyond the familiar comfort of our former policy.,"Famously, Yankees captain Don Mattingly was benched in 1991 for refusing to get a haircut, an incident mocked on a 1992 episode of ""The Simpsons.""",-0.7671583145856857,,The tradition has also turned some prospective Yankees away.,2025-02-25
"Home Depot earnings beat Wall Street estimates, as retailer breaks comparable sales losing streak",https://www.cnbc.com/2025/02/25/home-depot-hd-q4-2024-earnings.html,2025-02-25T15:24:40+0000,"In this articleHome Depot on Tuesday topped Wall Street's quarterly sales expectations, even as elevated interest rates and housing prices dampened consumer demand for large remodels and pricier projects.For the full year ahead, the company said it expects total sales to grow by 2.8% and comparable sales, which take out the impact of one-time factors like store openings and calendar differences, to increase by about 1%. Home Depot projected adjusted earnings per share will decline about 2% compared with the prior year.In an interview with CNBC, Chief Financial Officer Richard McPhail said ""housing is still frozen by mortgage rates."" Yet he said Home Depot saw broad-based growth, as sales increased in about half of its merchandise categories and 15 of its 19 U.S. geographic regions.Home Depot anticipates consumers will stop putting off projects as they gradually get used to higher interest rates, rather than waiting for them to fall, McPhail said. ""They tell us their lives are moving on,"" he said. ""Their families are growing. They're moving for a new job. They're upsizing their home. They want to upgrade their standard of living. Home improvement always persists, and so the question, I think, will be around the mindset of whether long-term rates have gotten to a new normal.""Here's what the company reported for the fiscal fourth quarter compared with Wall Street's estimates, according to a survey of analysts by LSEG:Home Depot shares rose more than 3% in early trading. The company was holding an earnings call on Tuesday morning.In the three-month period that ended Feb. 2, Home Depot's net income climbed to $3.0 billion, or $3.02 per share, from $2.80 billion, or $2.82 per share, in the year-ago period.  Revenue rose 14% from $34.79 billion in the year-ago period.Comparable sales, a metric also known as same-store sales, increased 0.8% across the company. Those results ended eight consecutive quarters of falling comparable sales. They also exceeded analysts' expectations of a decline of 1.7%, according to StreetAccount. Comparable sales in the U.S. increased 1.3% year over year.Regions hit by hurricanes Helene and Milton contributed about 0.6% to comparable sales, McPhail said.Customers spent more and visited Home Depot's stores and website more in the quarter compared with the year-ago period. Transactions rose to 400.4 million, up nearly 8% from the year-ago period. The average ticket was $89.11 in the quarter, up slightly from $88.87 in the prior-year quarter.Home Depot has faced a more difficult backdrop for selling supplies for home improvement projects. Sales growth slowed in 2023, after consumers' huge appetite for home renovations during the Covid pandemic returned to more typical patterns. Inflation and a shift back to spending on services like vacations and restaurants also dinged consumer demand for larger projects and pricier items.Since roughly the middle of 2023, Home Depot's leaders have pinned the company's problems on a tougher housing market. McPhail told CNBC that the same challenge persisted in the fourth quarter, as consumers still showed reluctance to splurge on bigger projects, such as redoing a kitchen or installing new flooring.Mortgage rates have remained high, despite interest rate cuts by the Federal Reserve. The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January, according to the National Association of Realtors.Tougher weather also hurt the company's sales in January, and that's carried into February in some parts of the country, McPhail said.""Where weather is good, we continue to see engagement,"" he said. ""Where weather is tough, projects get put on the shelf.""Even so, he said Home Depot has focused on ways it can move the needle, such as opening new stores and investing in its e-commerce business. Online sales rose 9% in the fourth quarter compared with the year-ago period, McPhail said, the strongest quarter of the year for Home Depot's digital business. He chalked that up to the company's investments in faster deliveries, particularly with getting appliances and power tools to customers.McPhail said Home Depot opened 12 new stores in 2024, and it plans to open 13 new locations in the coming year. Home Depot has also looked to home professionals as one of its major sales drivers. It bought SRS Distribution, a Texas-based company that sells supplies to professionals in the roofing, pool and landscaping businesses, for $18.25 billion last year. It marked the largest acquisition in the company's history.Some pro-heavy categories, such as roofing, drywall and lumber, saw sales increases in the quarter because of Home Depot's push to serve contractors and other home pros better, McPhail said.Shares of Home Depot closed Monday at $382.42. As of Monday's close, the company's shares have fallen about 2% so far this year. That trails behind the S&P 500's approximately 2% gains during the same period.This is a developing story. Please check back for updates.",CNBC,25/02/2025,"[""In this articleHome Depot on Tuesday topped Wall Street's quarterly sales expectations, even as elevated interest rates and housing prices dampened consumer demand for large remodels and pricier projects."", 'For the full year ahead, the company said it expects total sales to grow by 2.8% and comparable sales, which take out the impact of one-time factors like store openings and calendar differences, to increase by about 1%.', 'Home Depot projected adjusted earnings per share will decline about 2% compared with the prior year.', 'In an interview with CNBC, Chief Financial Officer Richard McPhail said ""housing is still frozen by mortgage rates.""', 'Yet he said Home Depot saw broad-based growth, as sales increased in about half of its merchandise categories and 15 of its 19 U.S. geographic regions.', 'Home Depot anticipates consumers will stop putting off projects as they gradually get used to higher interest rates, rather than waiting for them to fall, McPhail said.', '""They tell us their lives are moving on,"" he said. ""', 'Their families are growing.', ""They're moving for a new job."", ""They're upsizing their home."", 'They want to upgrade their standard of living.', 'Home improvement always persists, and so the question, I think, will be around the mindset of whether long-term rates have gotten to a new normal.', '""Here\'s what the company reported for the fiscal fourth quarter compared with Wall Street\'s estimates, according to a survey of analysts by LSEG:Home Depot shares rose more than 3% in early trading.', 'The company was holding an earnings call on Tuesday morning.', ""In the three-month period that ended Feb. 2, Home Depot's net income climbed to $3.0 billion, or $3.02 per share, from $2.80 billion, or $2.82 per share, in the year-ago period."", 'Revenue rose 14% from $34.79 billion in the year-ago period.', 'Comparable sales, a metric also known as same-store sales, increased 0.8% across the company.', 'Those results ended eight consecutive quarters of falling comparable sales.', ""They also exceeded analysts' expectations of a decline of 1.7%, according to StreetAccount."", 'Comparable sales in the U.S. increased 1.3% year over year.', 'Regions hit by hurricanes Helene and Milton contributed about 0.6% to comparable sales, McPhail said.', ""Customers spent more and visited Home Depot's stores and website more in the quarter compared with the year-ago period."", 'Transactions rose to 400.4 million, up nearly 8% from the year-ago period.', 'The average ticket was $89.11 in the quarter, up slightly from $88.87 in the prior-year quarter.', 'Home Depot has faced a more difficult backdrop for selling supplies for home improvement projects.', ""Sales growth slowed in 2023, after consumers' huge appetite for home renovations during the Covid pandemic returned to more typical patterns."", 'Inflation and a shift back to spending on services like vacations and restaurants also dinged consumer demand for larger projects and pricier items.', ""Since roughly the middle of 2023, Home Depot's leaders have pinned the company's problems on a tougher housing market."", 'McPhail told CNBC that the same challenge persisted in the fourth quarter, as consumers still showed reluctance to splurge on bigger projects, such as redoing a kitchen or installing new flooring.', 'Mortgage rates have remained high, despite interest rate cuts by the Federal Reserve.', 'The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January, according to the National Association of Realtors.', ""Tougher weather also hurt the company's sales in January, and that's carried into February in some parts of the country, McPhail said."", '""Where weather is good, we continue to see engagement,"" he said. ""', 'Where weather is tough, projects get put on the shelf.', '""Even so, he said Home Depot has focused on ways it can move the needle, such as opening new stores and investing in its e-commerce business.', ""Online sales rose 9% in the fourth quarter compared with the year-ago period, McPhail said, the strongest quarter of the year for Home Depot's digital business."", ""He chalked that up to the company's investments in faster deliveries, particularly with getting appliances and power tools to customers."", 'McPhail said Home Depot opened 12 new stores in 2024, and it plans to open 13 new locations in the coming year.', 'Home Depot has also looked to home professionals as one of its major sales drivers.', 'It bought SRS Distribution, a Texas-based company that sells supplies to professionals in the roofing, pool and landscaping businesses, for $18.25 billion last year.', ""It marked the largest acquisition in the company's history."", ""Some pro-heavy categories, such as roofing, drywall and lumber, saw sales increases in the quarter because of Home Depot's push to serve contractors and other home pros better, McPhail said."", 'Shares of Home Depot closed Monday at $382.42.', ""As of Monday's close, the company's shares have fallen about 2% so far this year."", ""That trails behind the S&P 500's approximately 2% gains during the same period."", 'This is a developing story.', 'Please check back for updates.']",0.1381857476680211,"""Where weather is good, we continue to see engagement,"" he said. ""","Tougher weather also hurt the company's sales in January, and that's carried into February in some parts of the country, McPhail said.",0.3369241411035711,"Yet he said Home Depot saw broad-based growth, as sales increased in about half of its merchandise categories and 15 of its 19 U.S. geographic regions.",Those results ended eight consecutive quarters of falling comparable sales.,2025-02-25
"Government travel has 'fallen off' since Trump inauguration, United Airlines says",https://www.cnbc.com/2025/02/19/united-says-government-travel-falls-amid-trump-musk-firings.html,2025-02-19T20:19:12+0000,"In this articleUnited Airlines says travel demand has been resilient lately — except from the U.S. government.Government travel ""has fallen off here post-inauguration,"" United's Chief Financial Officer Mike Leskinen said at a Barclays industry conference on Wednesday, referring to the start of President Donald Trump's term last month.Trump and his advisor, billionaire Elon Musk, have vowed to cut costs in the government, and thousands of government workers have either been laid off or offered buyouts. Jobless claims have surged in Washington, D.C.The government travel segment is about 2% of United's revenue, a United spokeswoman said. The airline brought in nearly $52 billion in passenger revenue last year. Leskinen said other demand is helping to make up for the shortfall.Strong international leisure travel demand continues to outshine domestic demand, Leskinen added.",CNBC,19/02/2025,"['In this articleUnited Airlines says travel demand has been resilient lately — except from the U.S. government.', 'Government travel ""has fallen off here post-inauguration,"" United\'s Chief Financial Officer Mike Leskinen said at a Barclays industry conference on Wednesday, referring to the start of President Donald Trump\'s term last month.', 'Trump and his advisor, billionaire Elon Musk, have vowed to cut costs in the government, and thousands of government workers have either been laid off or offered buyouts.', ""Jobless claims have surged in Washington, D.C.The government travel segment is about 2% of United's revenue, a United spokeswoman said."", 'The airline brought in nearly $52 billion in passenger revenue last year.', 'Leskinen said other demand is helping to make up for the shortfall.', 'Strong international leisure travel demand continues to outshine domestic demand, Leskinen added.']",0.1218385210657379,"Jobless claims have surged in Washington, D.C.The government travel segment is about 2% of United's revenue, a United spokeswoman said.","Trump and his advisor, billionaire Elon Musk, have vowed to cut costs in the government, and thousands of government workers have either been laid off or offered buyouts.",0.4203916192054748,"Strong international leisure travel demand continues to outshine domestic demand, Leskinen added.","Government travel ""has fallen off here post-inauguration,"" United's Chief Financial Officer Mike Leskinen said at a Barclays industry conference on Wednesday, referring to the start of President Donald Trump's term last month.",2025-02-25
"Trump is 'not happy' with Boeing over Air Force One delays, but airlines are growing upbeat",https://www.cnbc.com/2025/02/20/trump-boeing-air-force-one-delays.html,2025-02-20T18:12:17+0000,"In this articlePresident Donald Trump expressed frustration in recent days about the long wait for a pair of Boeing 747s that will serve as the new Air Force One planes.The jets are years behind schedule. Trump negotiated the $4 billion contract for the aircraft during his first term, and it isn't clear whether they'll be ready during his current one. Cost overruns have totaled more than $2 billion to date.Trump advisor Elon Musk is working with Boeing in hopes of delivering the aircraft faster, the manufacturer's chief executive, Kelly Ortberg, reiterated on Thursday.""The president's clearly not happy with the delivery timing. I think he's made that well known,"" Ortberg said at a Barclays industrials conference. ""Elon Musk is actually helping us a lot in working through the requirements ... to help us get the things that are non-value-added constraints out of the way so that we can move faster and get the president those airplanes delivered.""Ortberg called Musk, CEO of SpaceX, which competes with Boeing's defense and space unit, a ""brilliant guy"" who can ""pretty quickly ascertain the difference between technical requirement and things that we can move out of the way.""Aboard one of the current presidential 747s, Trump told reporters on Wednesday that he is considering alternatives.""We may buy a plane or get a plane, or something,"" he said, according to Reuters. Trump toured a 747 that was parked at Florida's Palm Beach International Airport over the weekend, the outlet reported.The White House didn't immediately respond to a request for comment.Frustration is nothing new for Boeing's airline customers who faced long delays for aircraft just as the post-pandemic travel boom was taking hold. A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.Now some customers are growing more upbeat. Executives told CNBC that it appears the manufacturer has turned a corner under Ortberg, who took the helm in August.""Boeing is doing a pretty miraculous job of turning around and becoming more reliable as a supplier,"" United Airlines CFO Mike Leskinen said Wednesday at the same Barclays conference. ""Our confidence that our MAX aircraft are going to be delivered on schedule has never been greater at my tenure at United Airlines.""Bob Jordan, CEO of all-Boeing 737 carrier Southwest Airlines, said on a Jan. 30 earnings call: ""While they still have much work to do, they appear to be on a good path, and we are feeling more optimistic.""Speaking at the Barclays conference on Thursday, Boeing's Ortberg said he doesn't see any supply chain problems that would prevent the manufacturer from ramping up production of its cash-cow 737 Max planes, its bestseller, to 38 per month in the coming months.",CNBC,20/02/2025,"['In this articlePresident Donald Trump expressed frustration in recent days about the long wait for a pair of Boeing 747s that will serve as the new Air Force One planes.', 'The jets are years behind schedule.', ""Trump negotiated the $4 billion contract for the aircraft during his first term, and it isn't clear whether they'll be ready during his current one."", 'Cost overruns have totaled more than $2 billion to date.', ""Trump advisor Elon Musk is working with Boeing in hopes of delivering the aircraft faster, the manufacturer's chief executive, Kelly Ortberg, reiterated on Thursday."", '""The president\'s clearly not happy with the delivery timing.', 'I think he\'s made that well known,"" Ortberg said at a Barclays industrials conference. ""', 'Elon Musk is actually helping us a lot in working through the requirements ... to help us get the things that are non-value-added constraints out of the way so that we can move faster and get the president those airplanes delivered.', '""Ortberg called Musk, CEO of SpaceX, which competes with Boeing\'s defense and space unit, a ""brilliant guy"" who can ""pretty quickly ascertain the difference between technical requirement and things that we can move out of the way.', '""Aboard one of the current presidential 747s, Trump told reporters on Wednesday that he is considering alternatives.', '""We may buy a plane or get a plane, or something,"" he said, according to Reuters.', ""Trump toured a 747 that was parked at Florida's Palm Beach International Airport over the weekend, the outlet reported."", ""The White House didn't immediately respond to a request for comment."", ""Frustration is nothing new for Boeing's airline customers who faced long delays for aircraft just as the post-pandemic travel boom was taking hold."", 'A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.', 'Now some customers are growing more upbeat.', 'Executives told CNBC that it appears the manufacturer has turned a corner under Ortberg, who took the helm in August.', '""Boeing is doing a pretty miraculous job of turning around and becoming more reliable as a supplier,"" United Airlines CFO Mike Leskinen said Wednesday at the same Barclays conference. ""', 'Our confidence that our MAX aircraft are going to be delivered on schedule has never been greater at my tenure at United Airlines.', '""Bob Jordan, CEO of all-Boeing 737 carrier Southwest Airlines, said on a Jan. 30 earnings call: ""While they still have much work to do, they appear to be on a good path, and we are feeling more optimistic.', '""Speaking at the Barclays conference on Thursday, Boeing\'s Ortberg said he doesn\'t see any supply chain problems that would prevent the manufacturer from ramping up production of its cash-cow 737 Max planes, its bestseller, to 38 per month in the coming months.']",0.1535934301979182,"""Ortberg called Musk, CEO of SpaceX, which competes with Boeing's defense and space unit, a ""brilliant guy"" who can ""pretty quickly ascertain the difference between technical requirement and things that we can move out of the way.",A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.,0.0731367606383103,"""Boeing is doing a pretty miraculous job of turning around and becoming more reliable as a supplier,"" United Airlines CFO Mike Leskinen said Wednesday at the same Barclays conference. """,A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.,2025-02-25
San Francisco 49ers explore 10% minority stake sale at about $9 billion valuation,https://www.cnbc.com/2025/02/19/san-francisco-49ers-explore-selling-minority-stake-sale.html,2025-02-19T20:07:39+0000,"The San Francisco 49ers may be the next National Football League franchise to sell a minority stake to private equity.The 49ers are considering a sale of up to 10% of the franchise to either a private equity firm or other investors, including wealthy individuals or families, according to a person familiar with the matter.The New York Giants are also exploring a minority stake sale, the franchise announced last week.NFL owners voted last year to allow private equity investment of up to 10% of a franchise. The Miami Dolphins and the Buffalo Bills have already struck deals with investment firms, and the Philadelphia Eagles and Las Vegas Raiders have used the increased interest from private equity to generate higher prices from other individuals and families.The 49ers are hoping to value the franchise near $9 billion, the person said. CNBC valued the organization at $7.4 billion in its most recent valuations list.Bloomberg first reported the team's interest in selling a minority stake.The NFL's 49ers are both recently and historically one of the most successful NFL franchises in terms of wins and losses. The parent company of the 49ers, 49ers Enterprises, also owns the English football club Leeds United. The York family owns the 49ers, and Jed York is the 49ers' CEO.Many teams are eager to sell minority stakes for increased liquidity for family members or for money that can be pumped back into the team for stadium repairs or future investments.Sales to private equity firms come with no voting rights. Still, firms have been willing to pay premium prices for small stakes because they come with perks, such as owner's box seating, which can be used for clients and employees.",CNBC,19/02/2025,"['The San Francisco 49ers may be the next National Football League franchise to sell a minority stake to private equity.', 'The 49ers are considering a sale of up to 10% of the franchise to either a private equity firm or other investors, including wealthy individuals or families, according to a person familiar with the matter.', 'The New York Giants are also exploring a minority stake sale, the franchise announced last week.', 'NFL owners voted last year to allow private equity investment of up to 10% of a franchise.', 'The Miami Dolphins and the Buffalo Bills have already struck deals with investment firms, and the Philadelphia Eagles and Las Vegas Raiders have used the increased interest from private equity to generate higher prices from other individuals and families.', 'The 49ers are hoping to value the franchise near $9 billion, the person said.', 'CNBC valued the organization at $7.4 billion in its most recent valuations list.', ""Bloomberg first reported the team's interest in selling a minority stake."", ""The NFL's 49ers are both recently and historically one of the most successful NFL franchises in terms of wins and losses."", 'The parent company of the 49ers, 49ers Enterprises, also owns the English football club Leeds United.', ""The York family owns the 49ers, and Jed York is the 49ers' CEO.Many teams are eager to sell minority stakes for increased liquidity for family members or for money that can be pumped back into the team for stadium repairs or future investments."", 'Sales to private equity firms come with no voting rights.', ""Still, firms have been willing to pay premium prices for small stakes because they come with perks, such as owner's box seating, which can be used for clients and employees.""]",0.3021186300740778,The NFL's 49ers are both recently and historically one of the most successful NFL franchises in terms of wins and losses.,Sales to private equity firms come with no voting rights.,0.9709718346595764,"The Miami Dolphins and the Buffalo Bills have already struck deals with investment firms, and the Philadelphia Eagles and Las Vegas Raiders have used the increased interest from private equity to generate higher prices from other individuals and families.",,2025-02-25
Eli Lilly is selling higher-dose vials of Zepbound at a lower price to boost weight loss drug access,https://www.cnbc.com/2025/02/25/eli-lilly-offering-more-cheaper-vials-of-zepbound-weight-loss-drug.html,2025-02-25T12:13:45+0000,"In this articleEli Lilly on Tuesday released higher doses of its weight loss drug Zepbound in single-dose vials at as much as half its usual monthly list price to reach more patients without insurance coverage for the blockbuster injection, such as those with Medicare.It expands the company's effort to boost the U.S. supply of Zepbound as demand soars, and to ensure eligible patients are safely accessing the real treatment instead of cheaper compounded versions. Eli Lilly is now offering higher doses of Zepbound in single-dose vials through a ""self-pay pharmacy"" section on its direct-to-consumer website, LillyDirect, which began offering lower doses of the drug in vials in August. Eligible patients diagnosed by a health-care provider with obesity alone or along with obstructive sleep apnea — Zepbound's newly approved use — can pay for those vials themselves on the site. The company is selling 7.5 milligram and 10 milligram vials of Zepbound for $499 per month when patients fill their first prescription, and any time they refill within 45 days of their previous delivery. Otherwise, those two doses will cost $599 and $699, respectively. Also on Tuesday, Eli Lilly said it is lowering the price of both of the lower-dose vials of Zepbound by $50. The 2.5 milligram vial will now cost $349, and the 5 milligram vial will now be priced at $499, according to a release. Patients must use a syringe and needle to draw up the medicine from a single-dose vial and inject themselves. That differs from single-dose autoinjector pens, the currently available form of all Zepbound doses, which patients can directly inject under their skin with the click of a button.Eli Lilly has said those vials will make more of the medication available because they are easier to manufacture than autoinjector pens, which cost roughly $1,000 per month before insurance. Patients typically start treatment with a 2.5 milligram dose for four weeks, then gradually increase the amount per week and later take so-called maintenance doses to keep the weight off. Eli Lilly does not currently offer the highest doses of Zepbound — 12.5 milligrams and 15 milligrams — in single-dose vials. The lower price points for each of the single-dose vials will benefit patients who are willing to pay for Zepbound themselves and are enrolled in Medicare or employer-sponsored health plans that do not cover obesity treatments. ""We are, in the absence of full coverage for people suffering from obesity like other chronic diseases, we are just trying to fill that room and provide a more affordable solution, particularly for the Medicare population because none of our affordability solutions can be applied to them,"" said Patrik Jonsson, president of Eli Lilly diabetes and obesity, in an interview.Medicare beneficiaries are also not eligible for Eli Lilly's savings card programs for Zepbound. Jonsson said ""in an ideal world,"" the Trump administration will enact a proposed rule from the Biden administration to have Medicare cover obesity medications. Secretary of the U.S. Department of Health and Human Services Robert F. Kennedy Jr. has been skeptical of weight loss drugs.Some people turned to compounding pharmacies that make even cheaper copies of Zepbound because the branded treatment has been too costly and was in shortage until recent months. The U.S. Food and Drug Administration has since declared the Zepbound shortage over, however, which will soon bar many compounding pharmacies from making those versions of the drug. Jonsson said Eli Lilly is ""not price competing with the compounders,"" adding that the company does not believe ""there is still a market for the mass compounding anymore.""He said Tuesday's announcement helps to ensure that patients ""don't rely on knockoffs that are not approved by the FDA for safety, efficacy and quality."" Eli Lilly declined to say how many patients are ordering vials from LillyDirect so far, but Jonsson said ""the uptake has been really good.""He said Zepbound prescriptions filled through LillyDirect's self-pay pharmacy, which offers the single-dose vials, likely account for a low- to mid-single-digit percentage of the broader obesity market. Around 10% of new patients in the obesity market who start a treatment are using Zepbound through LillyDirect's self-pay pharmacy, Jonsson added. He said launching vials of the 7.5 milligram and 10 milligram doses will add to that number. LillyDirect, which launched in January 2024, connects people with an independent telehealth company that can prescribe certain drugs if the patients are eligible. The site also offers a home-delivery option if the prescribed treatment is Eli Lilly's, tapping a third-party online pharmacy to fill prescriptions and send them directly to patients. In December, direct-to-consumer health-care startup Ro said its platform will also offer single-dose vials of Zepbound through a new partnership with Eli Lilly.",CNBC,25/02/2025,"['In this articleEli Lilly on Tuesday released higher doses of its weight loss drug Zepbound in single-dose vials at as much as half its usual monthly list price to reach more patients without insurance coverage for the blockbuster injection, such as those with Medicare.', ""It expands the company's effort to boost the U.S. supply of Zepbound as demand soars, and to ensure eligible patients are safely accessing the real treatment instead of cheaper compounded versions."", 'Eli Lilly is now offering higher doses of Zepbound in single-dose vials through a ""self-pay pharmacy"" section on its direct-to-consumer website, LillyDirect, which began offering lower doses of the drug in vials in August.', ""Eligible patients diagnosed by a health-care provider with obesity alone or along with obstructive sleep apnea — Zepbound's newly approved use — can pay for those vials themselves on the site."", 'The company is selling 7.5 milligram and 10 milligram vials of Zepbound for $499 per month when patients fill their first prescription, and any time they refill within 45 days of their previous delivery.', 'Otherwise, those two doses will cost $599 and $699, respectively.', 'Also on Tuesday, Eli Lilly said it is lowering the price of both of the lower-dose vials of Zepbound by $50.', 'The 2.5 milligram vial will now cost $349, and the 5 milligram vial will now be priced at $499, according to a release.', 'Patients must use a syringe and needle to draw up the medicine from a single-dose vial and inject themselves.', 'That differs from single-dose autoinjector pens, the currently available form of all Zepbound doses, which patients can directly inject under their skin with the click of a button.', 'Eli Lilly has said those vials will make more of the medication available because they are easier to manufacture than autoinjector pens, which cost roughly $1,000 per month before insurance.', 'Patients typically start treatment with a 2.5 milligram dose for four weeks, then gradually increase the amount per week and later take so-called maintenance doses to keep the weight off.', 'Eli Lilly does not currently offer the highest doses of Zepbound — 12.5 milligrams and 15 milligrams — in single-dose vials.', 'The lower price points for each of the single-dose vials will benefit patients who are willing to pay for Zepbound themselves and are enrolled in Medicare or employer-sponsored health plans that do not cover obesity treatments.', '""We are, in the absence of full coverage for people suffering from obesity like other chronic diseases, we are just trying to fill that room and provide a more affordable solution, particularly for the Medicare population because none of our affordability solutions can be applied to them,"" said Patrik Jonsson, president of Eli Lilly diabetes and obesity, in an interview.', ""Medicare beneficiaries are also not eligible for Eli Lilly's savings card programs for Zepbound."", 'Jonsson said ""in an ideal world,"" the Trump administration will enact a proposed rule from the Biden administration to have Medicare cover obesity medications.', 'Secretary of the U.S. Department of Health and Human Services Robert F. Kennedy Jr. has been skeptical of weight loss drugs.', 'Some people turned to compounding pharmacies that make even cheaper copies of Zepbound because the branded treatment has been too costly and was in shortage until recent months.', 'The U.S. Food and Drug Administration has since declared the Zepbound shortage over, however, which will soon bar many compounding pharmacies from making those versions of the drug.', 'Jonsson said Eli Lilly is ""not price competing with the compounders,"" adding that the company does not believe ""there is still a market for the mass compounding anymore.', '""He said Tuesday\'s announcement helps to ensure that patients ""don\'t rely on knockoffs that are not approved by the FDA for safety, efficacy and quality.', '""Eli Lilly declined to say how many patients are ordering vials from LillyDirect so far, but Jonsson said ""the uptake has been really good.', '""He said Zepbound prescriptions filled through LillyDirect\'s self-pay pharmacy, which offers the single-dose vials, likely account for a low- to mid-single-digit percentage of the broader obesity market.', ""Around 10% of new patients in the obesity market who start a treatment are using Zepbound through LillyDirect's self-pay pharmacy, Jonsson added."", 'He said launching vials of the 7.5 milligram and 10 milligram doses will add to that number.', 'LillyDirect, which launched in January 2024, connects people with an independent telehealth company that can prescribe certain drugs if the patients are eligible.', ""The site also offers a home-delivery option if the prescribed treatment is Eli Lilly's, tapping a third-party online pharmacy to fill prescriptions and send them directly to patients."", 'In December, direct-to-consumer health-care startup Ro said itsplatformwill also offer single-dose vialsof Zepbound through a new partnership withEli Lilly.']",0.1641874640621586,"It expands the company's effort to boost the U.S. supply of Zepbound as demand soars, and to ensure eligible patients are safely accessing the real treatment instead of cheaper compounded versions.",Secretary of the U.S. Department of Health and Human Services Robert F. Kennedy Jr. has been skeptical of weight loss drugs.,0.3630305926005046,"It expands the company's effort to boost the U.S. supply of Zepbound as demand soars, and to ensure eligible patients are safely accessing the real treatment instead of cheaper compounded versions.","The U.S. Food and Drug Administration has since declared the Zepbound shortage over, however, which will soon bar many compounding pharmacies from making those versions of the drug.",2025-02-25
How digitally native companies like Rothy's are growing profitably in a new era for retail,https://www.cnbc.com/2025/02/25/rothys-posts-best-year-on-record-after-wholesale-expansion.html,2025-02-25T15:35:21+0000,"Direct-to-consumer footwear brand Rothy's just recorded its best year on record after the company appointed retail veteran Jenny Ming, one of the co-founders of Old Navy, as its CEO. Ming took the helm of the flats maker from co-founder Stephen Hawthornthwaite in January 2024. Under her direction, the company grew sales 17% to $211 million last year, its best volume year since it launched nearly a decade ago. Comparable sales at its stores grew 20% and it posted positive EBITDA for the full year, with margins above 10%. Rothy's outperformed the U.S. footwear market, which was flat in 2024 compared with 2023, according to Circana. Rothy's growth, which came from an expansion into wholesale and a focus on brick-and-mortar stores, comes as direct-to-consumer darlings find it harder than ever to survive with the pure play models that once wowed investors at the turn of the decade. Once considered the future of the industry, these online-only businesses are now leaning into the retail fundamentals that have long been the building blocks of emerging brands. Wholesale partnerships are a critical customer acquisition tool, and stores still matter.As these plucky startups contend with the challenges that come with an online-only business, the winners are adapting to a new reality where stores, wholesale partnerships and e-commerce all need to be part of the mix to ensure they can operate profitably. ""A lot of people are like, why would you be on Amazon? Because people do a lot of searches on Amazon. If we weren't there, and they type in Rothy's, a competitor or somebody else would show up. So why wouldn't we want to be there?"" Ming told CNBC in an interview. ""To me, it's really thinking a little bit more holistically and broadly. What our customer would want from us is how we approach it … people shop very different today."" Channel diversification will never be a panacea for a business that's inherently broken or doesn't serve a market need. The footwear industry and specialty retail overall is more competitive than ever, and Rothy's needs to continue its efforts to diversify, scale and expand into new categories to keep up its performance.Soon after Rothy's launched in 2016, it quickly made a name for itself with its ubiquitous Instagram and Facebook advertisements and an innovative approach on sustainable shoe making that included using recycled plastic to make machine washable products. By 2019, it was Meghan Markle's flat of choice and it had developed a cult following. Buoyed by a record year for valuations and 0% interest rates, Brazilian footwear company Alpargatas took a 49.9% stake in Rothy's in 2021 that resulted in a post-investment valuation of $1 billion. Rothy's used the investment to build out a store fleet, but by that time, the company's growth had stagnated and it was struggling to reach profitability. ""Once we sort of emerged from the pandemic, you could see a lot of these digitally native brands now sort of saying, okay, now what, right? I need stores. It is so expensive to acquire customers online,"" said Dayna Quanbeck, Rothy's president. ""[With] an e-commerce model… all of your costs are variable, right? Where you really find scale and you really find profitability is where you can leverage your fixed costs, which is stores, really, and wholesale.""Ming, who served as Old Navy's president between 1996 and 2006 and later became the CEO of Charlotte Russe, joined Rothy's board in 2022 and was later asked to take over as CEO. She said no at first, but later agreed to take the helm after she spent a few months consulting and saw the early innings of a transformation beginning to take shape. She immediately started focusing on improving profitability and generating sales momentum by making sure Rothy's was selling the types of products that its customers wanted – and in the places they shopped. ""I literally went line by line … looking at what we should spend, what we shouldn't, you know, and right size marketing spend. There was things that, you know, we don't need,"" said Ming, citing office plants as one of the first things she cut. ""But the main thing is, driving profitability is really in revenue. You have to be growing your sales in order to really be profitable, right?"" That's where Rothy's new selling strategy came in. In 2024, it began testing with a select number of wholesale partners – Anthopologie, Bloomingdale's, Amazon and toward the end of the year, Nordstrom.At the same time, it continued growing its store fleet. Now, a business that drew about 99% of its revenue from its website does about 70% of sales online, with the rest balanced between stores and wholesalers. Combining profitable stores with strong wholesale partnerships, Rothy's has been able to grow sales and become more profitable at the same time.""If we were just digitally native forever and ever, you really just can't get there with the cost of acquisition, with the cost of, you know, just showing up these days,"" said Quanbeck. ""Honestly, it's impossible."" Looking ahead, Rothy's is planning to build on its wholesale partnerships and has made stores, along with international expansion, a central part of its strategy. Quanbeck said it's hard to sell customers on everything that makes the brand appealing without them being able to see it in person.""But when you can walk into the store and you can see it visually, you have a great customer experience where we can really tell the story,"" said Quanbeck ""It's additive. And we know that the lifetime value of those customers that engage with us IRL is really high."" Quanbeck and Ming, who are alumni of now-bankrupt Charlotte Russe, know all too well the perils of overexpanding unprofitable store fleets, and said they're taking a balanced approach to brick-and-mortar. The 26 stores Rothy's has are small and all are profitable and the company plans to open another eight to ten doors this year, said Quanbeck.Ming said Rothy's won't need hundreds of stores, but she'd like to see the fleet grow to 75, or perhaps even 100. ""But we also want to make sure our wholesale partners is in the picture,"" said Ming. ""We're going to be in [Nordstrom] in March … they have more stores than we will ever have, so they might be in markets that we might not decide to open a store but then we still have a partner for our customer to shop in."" When asked if Rothy's will pursue an IPO or look to be acquired, Ming said the business isn't there yet — and her team doesn't need the distraction.""We had a really great year but ... I keep telling the team, one year doesn't make it a trend,"" said Ming. ""So we're really focused on this year. I think if we have another great year, you know, maybe a year or two, I think then we could really step back and say, 'What next?'""",CNBC,25/02/2025,"[""Direct-to-consumer footwear brand Rothy's just recorded its best year on record after the company appointed retail veteran Jenny Ming, one of the co-founders of Old Navy, as its CEO.Ming took the helm of the flats maker from co-founder Stephen Hawthornthwaite in January 2024."", 'Under her direction, the company grew sales 17% to $211 million last year, its best volume year since it launched nearly a decade ago.', ""Comparable sales at its stores grew 20% and it posted positive EBITDA for the full year, with margins above 10%.Rothy's outperformed the U.S. footwear market, which was flat in 2024 compared with 2023, according to Circana."", ""Rothy's growth, which came from an expansion into wholesale and a focus on brick-and-mortar stores, comes as direct-to-consumer darlings find it harder than ever to survive with the pure play models that once wowed investors at the turn of the decade."", 'Once considered the future of the industry, these online-only businesses are now leaning into the retail fundamentals that have long been the building blocks of emerging brands.', 'Wholesale partnerships are a critical customer acquisition tool, and stores still matter.', 'As these plucky startups contend with the challenges that come with an online-only business, the winners are adapting to a new reality where stores, wholesale partnerships and e-commerce all need to be part of the mix to ensure they can operate profitably.', '""A lot of people are like, why would you be on Amazon?', 'Because people do a lot of searches on Amazon.', ""If we weren't there, and they type in Rothy's, a competitor or somebody else would show up."", 'So why wouldn\'t we want to be there?""', 'Ming told CNBC in an interview. ""', ""To me, it's really thinking a little bit more holistically and broadly."", 'What our customer would want from us is how we approach it … people shop very different today.', '""Channel diversification will never be a panacea for a business that\'s inherently broken or doesn\'t serve a market need.', ""The footwear industry and specialty retail overall is more competitive than ever, and Rothy's needs to continue its efforts to diversify, scale and expand into new categories to keep up its performance."", ""Soon after Rothy's launched in 2016, it quickly made a name for itself with its ubiquitous Instagram and Facebook advertisements and an innovative approach on sustainable shoe making that included using recycled plastic to make machine washable products."", ""By 2019, it was Meghan Markle's flat of choice and it had developed a cult following."", ""Buoyed by a record year for valuations and 0% interest rates, Brazilian footwear company Alpargatas took a 49.9% stake in Rothy's in 2021 that resulted in a post-investment valuation of $1 billion."", ""Rothy's used the investment to build out a store fleet, but by that time, the company's growth had stagnated and it was struggling to reach profitability."", '""Once we sort of emerged from the pandemic, you could see a lot of these digitally native brands now sort of saying, okay, now what, right?', 'I need stores.', 'It is so expensive to acquire customers online,"" said Dayna Quanbeck, Rothy\'s president. ""[', 'With] an e-commerce model… all of your costs are variable, right?', 'Where you really find scale and you really find profitability is where you can leverage your fixed costs, which is stores, really, and wholesale.', '""Ming, who served as Old Navy\'s president between 1996 and 2006 and later became the CEO of Charlotte Russe, joined Rothy\'s board in 2022 and was later asked to take over as CEO.', 'She said no at first, but later agreed to take the helm after she spent a few months consulting and saw the early innings of a transformation beginning to take shape.', ""She immediately started focusing on improving profitability and generating sales momentum by making sure Rothy's was selling the types of products that its customers wanted – and in the places they shopped."", '""I literally went line by line … looking at what we should spend, what we shouldn\'t, you know, and right size marketing spend.', 'There was things that, you know, we don\'t need,"" said Ming, citing office plants as one of the first things she cut. ""', 'But the main thing is, driving profitability is really in revenue.', 'You have to be growing your sales in order to really be profitable, right?""That\'s where Rothy\'s new selling strategy came in.', ""In 2024, it began testing with a select number of wholesale partners – Anthopologie, Bloomingdale's, Amazon and toward the end of the year, Nordstrom."", 'At the same time, it continued growing its store fleet.', 'Now, a business that drew about 99% of its revenue from its website does about 70% of sales online, with the rest balanced between stores and wholesalers.', ""Combining profitable stores with strong wholesale partnerships, Rothy's has been able to grow sales and become more profitable at the same time."", '""If we were just digitally native forever and ever, you really just can\'t get there with the cost of acquisition, with the cost of, you know, just showing up these days,"" said Quanbeck. ""', ""Honestly, it's impossible."", '""Looking ahead, Rothy\'s is planning to build on its wholesale partnerships and has made stores, along with international expansion, a central part of its strategy.', ""Quanbeck said it's hard to sell customers on everything that makes the brand appealing without them being able to see it in person."", '""But when you can walk into the store and you can see it visually, you have a great customer experience where we can really tell the story,"" said Quanbeck ""It\'s additive.', 'And we know that the lifetime value of those customers that engage with us IRL is really high.', '""Quanbeck and Ming, who are alumni of now-bankrupt Charlotte Russe, know all too well the perils of overexpanding unprofitable store fleets, and said they\'re taking a balanced approach to brick-and-mortar.', ""The 26 stores Rothy's has are small and all are profitable and the company plans to open another eight to ten doors this year, said Quanbeck."", 'Ming said Rothy\'s won\'t need hundreds of stores, but she\'d like to see the fleet grow to 75, or perhaps even 100.""But we also want to make sure our wholesale partners is in the picture,"" said Ming. ""', ""We're going to be in [Nordstrom] in March … they have more stores than we will ever have, so they might be in markets that we might not decide to open a store but then we still have a partner for our customer to shop in."", '""When asked if Rothy\'s will pursue an IPO or look to be acquired, Ming said the business isn\'t there yet — and her team doesn\'t need the distraction.', '""We had a really great year but ... I keep telling the team, one year doesn\'t make it a trend,"" said Ming. ""', ""So we're really focused on this year."", 'I think if we have another great year, you know, maybe a year or two, I think then we could really step back and say, \'What next?\'""']",0.2498823266899726,"Rothy's growth, which came from an expansion into wholesale and a focus on brick-and-mortar stores, comes as direct-to-consumer darlings find it harder than ever to survive with the pure play models that once wowed investors at the turn of the decade.","""Channel diversification will never be a panacea for a business that's inherently broken or doesn't serve a market need.",0.7980324978178198,"Under her direction, the company grew sales 17% to $211 million last year, its best volume year since it launched nearly a decade ago.","Rothy's used the investment to build out a store fleet, but by that time, the company's growth had stagnated and it was struggling to reach profitability.",2025-02-25
U.S. homebuilders raise alarm over tariffs as sentiment falls to 5-month low,https://www.cnbc.com/2025/02/18/homebuilder-sentiment-falls-in-february-amid-tariff-worries.html,2025-02-18T19:15:26+0000,"Sentiment among the nation's single-family homebuilders dropped to the lowest level in five months in February, largely due to concern over tariffs, which would raise their costs significantly.The National Association of Home Builders' Housing Market Index, or HMI, dropped a sharp 5 points from January to a reading of 42. Anything below 50 is considered negative sentiment. Last February, the index stood at 48.""While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations in the most recent HMI,"" said NAHB Chairman Carl Harris, a homebuilder from Wichita, Kansas.Of the index's three components, current sales conditions fell 4 points to 46, buyer traffic fell 3 points to 29 and sales expectations in the next six months plunged 13 points to 46. That last component hit its lowest level since December 2023.Builders are already facing elevated mortgage rates. The average on the 30-year fixed mortgage rate was above 7% for January and February after earlier being in the 6% range. Home prices are also higher than they were a year ago, weakening affordability further.While President Donald Trump's tariffs on Canada and Mexico, originally proposed to take effect in early February, were delayed roughly a month, builders are still expecting higher costs.""With 32% of appliances and 30% of softwood lumber coming from international trade, uncertainty over the scale and scope of tariffs has builders further concerned about costs,"" said NAHB chief economist Robert Dietz.Homebuilder sentiment had been gaining steadily since August on the expectation of lower mortgage rates and, as the builders noted, potential pro-development policies. Single-family housing starts are trending lower than they were a year ago, despite a lean supply of existing homes for sale.The drop in builder sentiment, coming right before the all-important spring market, signals potentially even less supply in the market. Several homebuilders have noted the pullback in buyer demand in recent earnings reports.""Despite Federal Reserve actions to lower short-term interest rates, mortgage interest rates remained elevated in the fourth quarter, which impacted buyer demand as homebuyers continue to face affordability challenges,"" said Ryan Marshall, CEO of PulteGroup, in its fourth-quarter earnings release.The share of builders lowering prices dropped to 26% in February, down from 30% in January and the lowest share since May 2024. Other sales incentives also fell.This may be because incentives are becoming less effective at attracting buyers, since high prices and high rates have reduced the pool of buyers for whom these benefits move the needle, according to the NAHB.When a buyer is solidly priced out, no incentive helps, and with rates remaining higher, the pool of marginal buyers may be shrinking. Offering incentives to buyers who would buy regardless of price or rates is of diminishing value for builders.",CNBC,18/02/2025,"[""Sentiment among the nation's single-family homebuilders dropped to the lowest level in five months in February, largely due to concern over tariffs, which would raise their costs significantly."", ""The National Association of Home Builders' Housing Market Index, or HMI, dropped a sharp 5 points from January to a reading of 42."", 'Anything below 50 is considered negative sentiment.', 'Last February, the index stood at 48.""While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations in the most recent HMI,"" said NAHB Chairman Carl Harris, a homebuilder from Wichita, Kansas.', ""Of the index's three components, current sales conditions fell 4 points to 46, buyer traffic fell 3 points to 29 and sales expectations in the next six months plunged 13 points to 46."", 'That last component hit its lowest level since December 2023.Builders are already facing elevated mortgage rates.', 'The average on the 30-year fixed mortgage rate was above 7% for January and February after earlier being in the 6% range.', 'Home prices are also higher than they were a year ago, weakening affordability further.', ""While President Donald Trump's tariffs on Canada and Mexico, originally proposed to take effect in early February, were delayed roughly a month, builders are still expecting higher costs."", '""With 32% of appliances and 30% of softwood lumber coming from international trade, uncertainty over the scale and scope of tariffs has builders further concerned about costs,"" said NAHB chief economist Robert Dietz.', 'Homebuilder sentiment had been gaining steadily since August on the expectation of lower mortgage rates and, as the builders noted, potential pro-development policies.', 'Single-family housing starts are trending lower than they were a year ago, despite a lean supply of existing homes for sale.', 'The drop in builder sentiment, coming right before the all-important spring market, signals potentially even less supply in the market.', 'Several homebuilders have noted the pullback in buyer demand in recent earnings reports.', '""Despite Federal Reserve actions to lower short-term interest rates, mortgage interest rates remained elevated in the fourth quarter, which impacted buyer demand as homebuyers continue to face affordability challenges,"" said Ryan Marshall, CEO of PulteGroup, in its fourth-quarter earnings release.', 'The share of builders lowering prices dropped to 26% in February, down from 30% in January and the lowest share since May 2024.', 'Other sales incentives also fell.', 'This may be because incentives are becoming less effective at attracting buyers, since high prices and high rates have reduced the pool of buyers for whom these benefits move the needle, according to the NAHB.When a buyer is solidly priced out, no incentive helps, and with rates remaining higher, the pool of marginal buyers may be shrinking.', 'Offering incentives to buyers who would buy regardless of price or rates is of diminishing value for builders.']",0.0051487963697403,"This may be because incentives are becoming less effective at attracting buyers, since high prices and high rates have reduced the pool of buyers for whom these benefits move the needle, according to the NAHB.When a buyer is solidly priced out, no incentive helps, and with rates remaining higher, the pool of marginal buyers may be shrinking.",Anything below 50 is considered negative sentiment.,-0.7755109270413717,"Homebuilder sentiment had been gaining steadily since August on the expectation of lower mortgage rates and, as the builders noted, potential pro-development policies.","The National Association of Home Builders' Housing Market Index, or HMI, dropped a sharp 5 points from January to a reading of 42.",2025-02-25
Walmart is getting a bump from a surprising cohort: Wealthier shoppers,https://www.cnbc.com/2025/02/19/walmart-earnings-wealthy-shoppers-boost-sales.html,2025-02-19T19:37:03+0000,"In this articleWalmart is known for its low prices and no frills approach.So it may come as a surprise that wealthier shoppers are helping to fuel the retailer's growth.For more than two years, the discounter has noticed more customers with six-figure incomes shopping on its website and in its stores. Households earning more than $100,000 made up 75% of the company's market share gains in the fiscal third quarter, Walmart CEO Doug McMillon said on the company's earnings call in November.Those newer and more frequent customers have helped support the company's aspirations to sell more higher-margin items, such as clothing and home goods. They are driving Walmart's e-commerce sales, which have grown by double digits for 10 consecutive quarters. And they can boost the retailer's newer revenue streams, such as subscription-based membership program Walmart+ and its advertising business Walmart Connect.As Walmart reports its latest earnings on Thursday, Wall Street will be watching whether those upper-income customers are sticking around, after market share gains helped the retailer's shares soar about 83% in the last year. Yet some investors have questioned whether Walmart's traction with affluent shoppers has staying power, especially if the sticker shock of inflation cools.In an interview with CNBC, Walmart U.S. CEO John Furner acknowledged that the retailer has gained and then lost upper-income customers before, such as in 2008 and 2009 during the Great Recession. Affluent shoppers stretched their dollars at the big-box retailer, but then ultimately returned to competitors.This time, Furner said the gains will last because Walmart can save shoppers both time and money with e-commerce options.""It's different because we deliver to you at the curb [of the store],"" he said in the late January interview. ""We deliver to your house. We deliver to your refrigerator. That whole Supercenter, which is an amazing retail format, is available in an hour or two for a large part of the country and growing really quickly.""Walmart's expanding digital services have helped convince higher-income shoppers to give it a shot, said Brad Thomas, a retail analyst and managing director at KeyBanc Capital Markets. Some of those newer or more frequent customers have joined Walmart+, a subscription-based membership program that includes perks like free home deliveries. Walmart+, which launched about five years ago, is Walmart's answer to Amazon Prime.Walmart has not disclosed the program's membership count, but it has reported double-digit membership income growth in each of the past four quarters.Thomas said e-commerce options wipe out a potential hurdle for affluent shoppers: a potential stigma about shopping at the big-box stores themselves.""There's a customer in America that doesn't think of itself as a Walmart shopper,"" he said. ""They think of themselves as a Target shopper or a Publix or a Whole Foods shopper and through the app and through the delivery capabilities, they can remain a non-Walmart core shopper, but get all the benefits of getting the branded items at Walmart prices.""As inflation forced shoppers of all incomes to hunt for deals, some wealthier consumers realized they can get the same national brands like Tide detergent or Bounty paper towels from Walmart cheaper and often faster than at Amazon because of Walmart's nearby stores, he said.Walmart's website and app have increased their selection, too, as the company has bulked up its third-party marketplace. Starting this summer, the company began offering premium beauty brands through its website, including hairdryers from T3 and perfumes from Victoria's Secret.Shoppers can now find handbags from Chanel and Louis Vuitton, too. Last month, Walmart announced a deal with resale platform Rebag, which sells the items through Walmart's marketplace.Yet as Walmart tries to keep those customers, it wants to encourage them to shop in person, as well. Walmart has stepped up investments in its stores to freshen its look and counter negative perceptions that higher-income shoppers might have.Walmart has sped up the pace of remodels for its more than 4,600 stores across the U.S., with plans to revamp about 650 locations per year, an acceleration from a prior cadence of 450 to 500 per year, said Hunter Hart, senior vice president of Walmart Realty.Remodeled stores have brighter lighting, wider aisles and mannequins, said Alvis Washington, Walmart's vice president of retail brand experience. The stores also feature Walmart's newer and more fashion-forward brands like Scoop and Free Assembly, and national brands that shoppers would recognize, such as Reebok.The discounter launched a new grocery brand, BetterGoods, last year with colorful packaging and creative flavors that looks similar to merchandise that shoppers might find at Trader Joe's or Target.Walmart U.S. CEO Furner said some of those changes have drawn upper-income customers to the company's stores and app.He said Walmart's market share gains with affluent shoppers have come from online and in-store shopping, but added curbside pickup orders showed early signs of popularity with those customers. Even before the pandemic, Walmart saw that people who shopped with curbside pickup bought more higher-priced items, such as prime beef and seafood, Furner added.He said that still rings true: Walmart sees more premium items in the shopping baskets of customers who buy online, get home deliveries or use curbside pickup.Washington said Walmart treaded carefully with its store redesign, realizing it could risk its reputation for low prices and resonance with core customers, who typically have lower incomes. It promoted newer brands, but mixed in familiar staples, such as folded piles of inexpensive bath towels and denim.""Having a great, elevated experience and great value aren't mutually exclusive,"" Walmart's Washington said, recounting the company's approach. ""So when we looked at this, it's like, how do we do both and make sure we can gain new customers and maintain the customers that we have?When comparing remodeled stores to the rest of the fleet, Washington said higher comparable store sales reflect that customers like the different look. Walmart declined to provide specific numbers, saying it won't release sales numbers until it reports fourth-quarter earnings.Walmart's customer mix for its U.S. e-commerce business hasn't changed, even as it attracts higher-income shoppers, according to an analysis by market research firm Euromonitor. About 34% of Walmart's online customers in the U.S. last year had incomes of $100,000 and above, which is roughly flat compared with two years prior.Michelle Evans, global lead for retail and digital shopper insights at Euromonitor, said that indicates that Walmart is also gaining market share from lower- and middle-income customers.Walmart still has a smaller share of higher-income shoppers than some key rivals: 49% and 48% of online U.S. shoppers at Target and Amazon, respectively, have incomes above $100,000.Amazon remains a formidable competitor, especially when it comes to wealthier shoppers and general merchandise categories, Evans said. But Walmart's biggest edge is its grocery department.One of Walmart's newer, higher-income shoppers is Francesca Frink. The 30-year-old lives in the Chicago suburb of Park Ridge, Illinois, with her husband, Sam, 1-year-old son and their English setter. The Frink family's combined annual household income is more than $200,000.Last fall, Francesca Frink signed up for Walmart+ after her mother-in-law ordered a stroller from Walmart's website and got it dropped at her door three hours later.Initially, she said she hesitated to order fresh foods from Walmart. She bought packaged items like pasta and flour. Yet over time, the couple began ordering a larger portion of groceries, dog treats and even clothes for their son from Walmart.The Frinks have stopped going to their old grocery store, Kroger-owned supermarket Mariano's. They estimate that their weekly grocery bill is about 20% cheaper.Previously, the couple said they avoided Walmart because their nearest store is outdated. Yet Sam Frink said the game has changed with curbside pickup and home deliveries.""You don't have to go in,"" he said. ""That's the biggest thing.""Francesca Frink said home deliveries from Walmart, included in their Walmart+ membership, save the couple time while they juggle two careers, a toddler and a dog. Plus, she said she found that Walmart had the grocery items she wanted and even those she didn't expect, including organic blueberries, natural peanut butter and specialty mushroom ravioli.Still, Francesca Frink said she still faces some apprehension from friends and family about buying groceries from Walmart.But she said they've been surprised when they've tried and liked food items from Walmart.In her day job, Euromonitor's Evans tracked Walmart's digital gains with higher-income shoppers. Yet she also saw it firsthand in her household.Her husband signed the family up for Walmart+. During the holiday season, he told her all of his Christmas purchases would be coming from the discounter.""He made a comment that all the gifts were coming from Walmart, and obviously that comes with a certain impression,"" she said.So she was surprised when she opened his gift and discovered it was a Michael Kors tote.",CNBC,19/02/2025,"['In this articleWalmart is known for its low prices and no frills approach.', ""So it may come as a surprise that wealthier shoppers are helping to fuel the retailer's growth."", 'For more than two years, the discounter has noticed more customers with six-figure incomes shopping on its website and in its stores.', ""Households earning more than $100,000 made up 75% of the company's market share gains in the fiscal third quarter, Walmart CEO Doug McMillon said on the company's earnings call in November."", ""Those newer and more frequent customers have helped support the company's aspirations to sell more higher-margin items, such as clothing and home goods."", ""They are driving Walmart's e-commerce sales, which have grown by double digits for 10 consecutive quarters."", ""And they can boost the retailer's newer revenue streams, such as subscription-based membership program Walmart+ and its advertising business Walmart Connect."", ""As Walmart reports its latest earnings on Thursday, Wall Street will be watching whether those upper-income customers are sticking around, after market share gains helped the retailer's shares soar about 83% in the last year."", ""Yet some investors have questioned whether Walmart's traction with affluent shoppers has staying power, especially if the sticker shock of inflation cools."", 'In an interview with CNBC, Walmart U.S. CEO John Furner acknowledged that the retailer has gained and then lost upper-income customers before, such as in 2008 and 2009 during the Great Recession.', 'Affluent shoppers stretched their dollars at the big-box retailer, but then ultimately returned to competitors.', 'This time, Furner said the gains will last because Walmart can save shoppers both time and money with e-commerce options.', '""It\'s different because we deliver to you at the curb [of the store],"" he said in the late January interview. ""', 'We deliver to your house.', 'We deliver to your refrigerator.', 'That whole Supercenter, which is an amazing retail format, is available in an hour or two for a large part of the country and growing really quickly.', '""Walmart\'s expanding digital services have helped convince higher-income shoppers to give it a shot, said Brad Thomas, a retail analyst and managing director atKeyBancCapital Markets.', 'Some of those newer or more frequent customers have joined Walmart+, a subscription-based membership program that includes perks like free home deliveries.', ""Walmart+, which launched about five years ago, is Walmart's answer to Amazon Prime."", ""Walmart has not disclosed the program's membership count, but it has reported double-digit membership income growth in each of the past four quarters."", 'Thomas said e-commerce options wipe out a potential hurdle for affluent shoppers: a potential stigma about shopping at the big-box stores themselves.', '""There\'s a customer in America that doesn\'t think of itself as a Walmart shopper,"" he said. ""', 'They think of themselves as a Target shopper or a Publix or a Whole Foods shopper and through the app and through the delivery capabilities, they can remain a non-Walmart core shopper, but get all the benefits of getting the branded items at Walmart prices.', '""As inflation forced shoppers of all incomes to hunt for deals, some wealthier consumers realized they can get the same national brands like Tide detergent or Bounty paper towels from Walmart cheaper and often faster than at Amazon because of Walmart\'s nearby stores, he said.', ""Walmart's website and app have increased their selection, too, as the company has bulked up its third-party marketplace."", ""Starting this summer, the company began offering premium beauty brands through its website, including hairdryers from T3 and perfumes from Victoria's Secret."", 'Shoppers can now find handbags from Chanel and Louis Vuitton, too.', ""Last month, Walmart announced a deal with resale platform Rebag, which sells the items through Walmart's marketplace."", 'Yet as Walmart tries to keep those customers, it wants to encourage them to shop in person, as well.', 'Walmart has stepped up investments in its stores to freshen its look and counter negative perceptions that higher-income shoppers might have.', 'Walmart has sped up the pace of remodels for its more than 4,600 stores across the U.S., with plans to revamp about 650 locations per year, an acceleration from a prior cadence of 450 to 500 per year, said Hunter Hart, senior vice president of Walmart Realty.', ""Remodeled stores have brighter lighting, wider aisles and mannequins, said Alvis Washington, Walmart's vice president of retail brand experience."", ""The stores also feature Walmart's newer and more fashion-forward brands like Scoop and Free Assembly, and national brands that shoppers would recognize, such as Reebok."", ""The discounter launched a new grocery brand, BetterGoods, last year with colorful packaging and creative flavors that looks similar to merchandise that shoppers might find at Trader Joe's or Target."", ""Walmart U.S. CEO Furner said some of those changes have drawn upper-income customers to the company's stores and app."", ""He said Walmart's market share gains with affluent shoppers have come from online and in-store shopping, but added curbside pickup orders showed early signs of popularity with those customers."", 'Even before the pandemic, Walmart saw that people who shopped with curbside pickup bought more higher-priced items, such as prime beef and seafood, Furner added.', 'He said that still rings true: Walmart sees more premium items in the shopping baskets of customers who buy online, get home deliveries or use curbside pickup.', 'Washington said Walmart treaded carefully with its store redesign, realizing it could risk its reputation for low prices and resonance with core customers, who typically have lower incomes.', 'It promoted newer brands, but mixed in familiar staples, such as folded piles of inexpensive bath towels and denim.', '""Having a great, elevated experience and great value aren\'t mutually exclusive,"" Walmart\'s Washington said, recounting the company\'s approach. ""', ""So when we looked at this, it's like, how do we do both and make sure we can gain new customers and maintain the customers that we have?When comparing remodeled stores to the rest of the fleet, Washington said higher comparable store sales reflect that customers like the different look."", ""Walmart declined to provide specific numbers, saying it won't release sales numbers until it reports fourth-quarter earnings."", ""Walmart's customer mix for its U.S. e-commerce business hasn't changed, even as it attracts higher-income shoppers, according to an analysis by market research firm Euromonitor."", ""About 34% of Walmart's online customers in the U.S. last year had incomes of $100,000 and above, which is roughly flat compared with two years prior."", 'Michelle Evans, global lead for retail and digital shopper insights at Euromonitor, said that indicates that Walmart is also gaining market share from lower- and middle-income customers.', 'Walmart still has a smaller share of higher-income shoppers than some key rivals: 49% and 48% of online U.S. shoppers at Target and Amazon, respectively, have incomes above $100,000.Amazon remains a formidable competitor, especially when it comes to wealthier shoppers and general merchandise categories, Evans said.', ""But Walmart's biggest edge is its grocery department."", ""One of Walmart's newer, higher-income shoppers is Francesca Frink."", 'The 30-year-old lives in the Chicago suburb of Park Ridge, Illinois, with her husband, Sam, 1-year-old son and their English setter.', ""The Frink family's combined annual household income is more than $200,000.Last fall, Francesca Frink signed up for Walmart+ after her mother-in-law ordered a stroller from Walmart's website and got it dropped at her door three hours later."", 'Initially, she said she hesitated to order fresh foods from Walmart.', 'She bought packaged items like pasta and flour.', 'Yet over time, the couple began ordering a larger portion of groceries, dog treats and even clothes for their son from Walmart.', ""The Frinks have stopped going to their old grocery store, Kroger-owned supermarket Mariano's."", 'They estimate that their weekly grocery bill is about 20% cheaper.', 'Previously, the couple said they avoided Walmart because their nearest store is outdated.', 'Yet Sam Frink said the game has changed with curbside pickup and home deliveries.', '""You don\'t have to go in,"" he said. ""', ""That's the biggest thing."", '""Francesca Frink said home deliveries from Walmart, included in their Walmart+ membership, save the couple time while they juggle two careers, a toddler and a dog.', ""Plus, she said she found that Walmart had the grocery items she wanted and even those she didn't expect, including organic blueberries, natural peanut butter and specialty mushroom ravioli."", 'Still, Francesca Frink said she still faces some apprehension from friends and family about buying groceries from Walmart.', ""But she said they've been surprised when they've tried and liked food items from Walmart."", ""In her day job, Euromonitor's Evans tracked Walmart's digital gains with higher-income shoppers."", 'Yet she also saw it firsthand in her household.', 'Her husband signed the family up for Walmart+.', 'During the holiday season, he told her all of his Christmas purchases would be coming from the discounter.', '""He made a comment that all the gifts were coming from Walmart, and obviously that comes with a certain impression,"" she said.', 'So she was surprised when she opened his gift and discovered it was a Michael Kors tote.']",0.2425235485871454,"""Having a great, elevated experience and great value aren't mutually exclusive,"" Walmart's Washington said, recounting the company's approach. ""","Washington said Walmart treaded carefully with its store redesign, realizing it could risk its reputation for low prices and resonance with core customers, who typically have lower incomes.",0.7540351612227304,"They are driving Walmart's e-commerce sales, which have grown by double digits for 10 consecutive quarters.","About 34% of Walmart's online customers in the U.S. last year had incomes of $100,000 and above, which is roughly flat compared with two years prior.",2025-02-25
Aviation industry urges Congress to approve emergency air traffic control funding,https://www.cnbc.com/2025/02/19/aviation-groups-urge-congress-for-emergency-air-traffic-control-funds.html,2025-02-19T18:07:54+0000,"The U.S. aviation industry on Wednesday urged Congress to approve ""robust emergency funding"" for air traffic control technology and staffing.Three weeks after a deadly midair collision near Washington, D.C., marked the worst air disaster in the U.S. since 2001, groups representing industry heavyweights like Boeing, major U.S. airlines, private aviation and a host of labor unions wrote to lawmakers calling for urgent funding and improvements to U.S. airspace.They also said the Federal Aviation Administration should be exempt from government shutdowns ""to ensure a predictable funding stream to ensure continued safety and air traffic control personnel hiring and training.""A 2019 government shutdown left federal workers without pay for several weeks, including air traffic controllers and airport screeners. That shutdown ended hours after staffing shortages snarled flights at several major U.S. airports.",CNBC,19/02/2025,"['The U.S. aviation industry on Wednesday urged Congress to approve ""robust emergency funding"" for air traffic control technology and staffing.', 'Three weeks after a deadly midair collision near Washington, D.C., marked the worst air disaster in the U.S. since 2001, groups representing industry heavyweights like Boeing, major U.S. airlines, private aviation and a host of labor unions wrote to lawmakers calling for urgent funding and improvements to U.S. airspace.', 'They also said the Federal Aviation Administration should be exempt from government shutdowns ""to ensure a predictable funding stream to ensure continued safety and air traffic control personnel hiring and training.', '""A 2019 government shutdown left federal workers without pay for several weeks, including air traffic controllers and airport screeners.', 'That shutdown ended hours after staffing shortages snarled flights at several major U.S. airports.']",-0.0085601619390845,"They also said the Federal Aviation Administration should be exempt from government shutdowns ""to ensure a predictable funding stream to ensure continued safety and air traffic control personnel hiring and training.","Three weeks after a deadly midair collision near Washington, D.C., marked the worst air disaster in the U.S. since 2001, groups representing industry heavyweights like Boeing, major U.S. airlines, private aviation and a host of labor unions wrote to lawmakers calling for urgent funding and improvements to U.S. airspace.",-0.3174776832262675,"The U.S. aviation industry on Wednesday urged Congress to approve ""robust emergency funding"" for air traffic control technology and staffing.",That shutdown ended hours after staffing shortages snarled flights at several major U.S. airports.,2025-02-25
Walmart shares drop as retailer says profit growth will slow,https://www.cnbc.com/2025/02/20/walmart-wmt-q4-2025-earnings.html,2025-02-20T21:12:14+0000,"In this articleWalmart shares fell more than 6% Thursday, as the big-box retailer said profit growth will slow this fiscal year even as sales continue to climb.Walmart said holiday-quarter revenue rose about 4% and e-commerce sales shot up 20% in the U.S., as growth in store pickup and home deliveries and gains with upper-income shoppers boosted results. But its outlook disappointed Wall Street.In the fiscal year ahead, the discounter said it expects net sales to grow 3% to 4% and adjusted operating income to increase between 3.5% to 5.5% on a constant currency basis. The company said that includes a 150 basis point, or 1.5 percentage point, headwind from acquiring smart TV company Vizio and following a leap year in 2024. For the just completed fiscal year, Walmart posted adjusted operating income growth of 9.7% on a constant currency basis.The company also said it expects full-year adjusted earnings of $2.50 to $2.60 per share, which includes a 5 cent per share headwind from currency. That fell short of the $2.76 per share Wall Street had expected.In an interview with CNBC, Chief Financial Officer John David Rainey described consumer spending patterns as ""steady"" and said ""there's not any sharp changes that we've seen.""Yet he acknowledged ""there's far from certainty in the geopolitical landscape.""About two-thirds of what Walmart sells is made, grown or assembled in the U.S. Yet if tariffs on imports from Mexico and Canada take effect, he said Walmart is ""not going to be completely immune.""""We've lived in a tariff environment for the last seven or eight years, and we'll do what we know how to do,"" he said. ""We'll work with suppliers. We'll lean into our private brand. We'll shift supply where necessary to try to take advantage of lower costs that we can then pass on to consumers.""Since Walmart is not sure if the tariffs will take effect next month, the company did not factor them into its guidance, Rainey said.Here is what the big-box retailer reported for the fiscal fourth quarter compared with Wall Street's estimates, according to a survey of analysts by LSEG:In the three-month period that ended Jan. 31, Walmart's net income fell to $5.25 billion, or 65 cents per share, compared with $5.49 billion or 68 cents per share in the year-ago period. Revenue rose from $173.39 billion in the year-ago quarter. The company's adjusted earnings per share figure excluded one-time items, including opioid-related legal costs and gains and losses on equity and other investments.Comparable sales, an industry metric also known as same-store sales, increased 4.6% for Walmart's U.S. business and 6.8% for Sam's Club, excluding fuel.Walmart's e-commerce sales in the U.S. soared 20% compared with the year-ago period. That marked the 11th straight quarter of double-digit gains. Global e-commerce sales rose 16%.In the Walmart U.S. segment, customers' store visits and purchases climbed, as transactions rose 2.8% and average ticket increased 1.8% year over year. Since Walmart is the nation's top grocer, investors often view it as a barometer of consumer health. Investors have tried to parse whether softer U.S. retail sales in January were a blip or warning sign. Wall Street also is trying to understand the potential impact of policy decisions, such as tariffs, on consumer spending. Restaurant chains, including Restaurant Brands' Burger King and Popeyes, said sales improved in the fourth quarter, but they had weak trends in January. Yet those restaurants and some retail experts have blamed short-term factors for the drop, including winter storms, consumers taking a break after splurging over the holidays and contending with damage and disruption from the Los Angeles wildfires.Rainey echoed those sentiments on the call with CNBC, saying cold weather and the wildfires hurt Walmart's sales. He said that's temporary, however, and doesn't indicate a change in consumer spending patterns.Even so, the big-box retailer faced many questions from retail analysts on Thursday's earnings call about the reasons for its conservative forecast.On the earnings call, Rainey said the outlook is consistent with Walmart's guidance for the last two years, when it projected operating income growth of 4% to 6% annually. If the company took out the impact from the Vizio acquisition and extra day from leap year, he said the outlook would be 5% to 7%, which would represent an acceleration from its previous guidance ranges.Still, he said, ""it's prudent to have an outlook that is somewhat measured.""""We have to acknowledge that we are in an uncertain time and we don't want to get out over our skis here,"" he said. ""There's a lot of the year to play out. Again, we feel good about our ability to navigate the environment, whether it's tariffs or other macro [economic] uncertainty.""Walmart has taken a page from rival Amazon's book, as it chases ways make money outside of retail. Those newer moneymakers worked in its favor in the fourth quarter. Its advertising business and third-party marketplace are small compared with Amazon's, but have posted gains and driven higher margins than Walmart's retail business.Global membership income grew by 16% year over year, with some of that coming from its subscription-based membership program, Walmart+, in addition to warehouse club Sam's Club. Its global advertising business grew 29%, including a 24% increase in Walmart Connect.Walmart's third-party marketplace and its fulfillment services segment, which packs and ships orders for marketplace sellers, also rose by double digits.""These are all higher margin, faster-growing parts of our business where the math is just suggesting that our margins are going up over time,"" he said on the call with CNBC. ""And frankly, I don't see any end to this.""Faster and more frequent deliveries have helped Walmart's e-commerce business become more profitable. On the earnings call, Rainey said the delivery routes for Walmart have become denser as customers place more orders. Plus, he said, shoppers have shown a willingness to pay more to speed online orders to their doors.Over 30% of Walmart customers who have an item delivered from a store have paid an extra fee to have that delivered within a few hours, Rainey said. On Christmas Eve, he said, 77% of orders were express deliveries. Those faster deliveries, which are made in less than two hours, cost an additional $10.One of Walmart's newer services, pharmacy deliveries, is a growth opportunity, too, Walmart U.S. CEO John Furner said on the earnings call. The deliveries began in October in six states, but have expanded across the country.As customers order a prescription for a sick family member or place an order for their regular medication, many are buying other items like groceries, Furner said.Walmart also hiked its dividend by 13% to 94 cents per share, the largest increase in more than a decade.As of Wednesday's close, shares of Walmart are up about 83% over the past year. The stock closed on Wednesday at $104.00, up about 15% so far this year and outpacing the approximately 4% gains of the S&P 500 during the same period.",CNBC,20/02/2025,"['In this articleWalmart shares fell more than 6% Thursday, as the big-box retailer said profit growth will slow this fiscal year even as sales continue to climb.', 'Walmart said holiday-quarter revenue rose about 4% and e-commerce sales shot up 20% in the U.S., as growth in store pickup and home deliveries and gains with upper-income shoppers boosted results.', 'But its outlook disappointed Wall Street.', 'In the fiscal year ahead, the discounter said it expects net sales to grow 3% to 4% and adjusted operating income to increase between 3.5% to 5.5% on a constant currency basis.', 'The company said that includes a 150 basis point, or 1.5 percentage point, headwind from acquiring smart TV company Vizio and following a leap year in 2024.For the just completed fiscal year, Walmart posted adjusted operating income growth of 9.7% on a constant currency basis.', 'The company also said it expects full-year adjusted earnings of $2.50 to $2.60 per share, which includes a 5 cent per share headwind from currency.', 'That fell short of the $2.76 per share Wall Street had expected.', 'In an interview with CNBC, Chief Financial Officer John David Rainey described consumer spending patterns as ""steady"" and said ""there\'s not any sharp changes that we\'ve seen.', '""Yet he acknowledged ""there\'s far from certainty in the geopolitical landscape.', '""About two-thirds of what Walmart sells is made, grown or assembled in the U.S. Yet if tariffs on imports from Mexico and Canada take effect, he said Walmart is ""not going to be completely immune.', '""""We\'ve lived in a tariff environment for the last seven or eight years, and we\'ll do what we know how to do,"" he said. ""', ""We'll work with suppliers."", ""We'll lean into our private brand."", ""We'll shift supply where necessary to try to take advantage of lower costs that we can then pass on to consumers."", '""Since Walmart is not sure if the tariffs will take effect next month, the company did not factor them into its guidance, Rainey said.', ""Here is what the big-box retailer reported for the fiscal fourth quarter compared with Wall Street's estimates, according to a survey of analysts by LSEG:In the three-month period that ended Jan. 31, Walmart's net income fell to $5.25 billion, or 65 cents per share, compared with $5.49 billion or 68 cents per share in the year-ago period."", 'Revenue rose from $173.39 billion in the year-ago quarter.', ""The company's adjusted earnings per share figure excluded one-time items, including opioid-related legal costs and gains and losses on equity and other investments."", ""Comparable sales, an industry metric also known as same-store sales, increased 4.6% for Walmart's U.S. business and 6.8% for Sam's Club, excluding fuel."", ""Walmart's e-commerce sales in the U.S. soared 20% compared with the year-ago period."", 'That marked the 11th straight quarter of double-digit gains.', ""Global e-commerce sales rose 16%.In the Walmart U.S. segment, customers' store visits and purchases climbed, as transactions rose 2.8% and average ticket increased 1.8% year over year."", ""Since Walmart is the nation's top grocer, investors often view it as a barometer of consumer health."", 'Investors have tried to parse whether softer U.S. retail sales in January were a blip or warning sign.', 'Wall Street also is trying to understand the potential impact of policy decisions, such as tariffs, on consumer spending.', ""Restaurant chains, including Restaurant Brands' Burger King and Popeyes, said sales improved in the fourth quarter, but they had weak trends in January."", 'Yet those restaurants and some retail experts have blamed short-term factors for the drop, including winter storms, consumers taking a break after splurging over the holidays and contending with damage and disruption from the Los Angeles wildfires.', ""Rainey echoed those sentiments on the call with CNBC, saying cold weather and the wildfires hurt Walmart's sales."", ""He said that's temporary, however, and doesn't indicate a change in consumer spending patterns."", ""Even so, the big-box retailer faced many questions from retail analysts on Thursday's earnings call about the reasons for its conservative forecast."", ""On the earnings call, Rainey said the outlook is consistent with Walmart's guidance for the last two years, when it projected operating income growth of 4% to 6% annually."", 'If the company took out the impact from the Vizio acquisition and extra day from leap year, he said the outlook would be 5% to 7%, which would represent an acceleration from its previous guidance ranges.', 'Still, he said, ""it\'s prudent to have an outlook that is somewhat measured.', '""""We have to acknowledge that we are in an uncertain time and we don\'t want to get out over our skis here,"" he said. ""', ""There's a lot of the year to play out."", ""Again, we feel good about our ability to navigate the environment, whether it's tariffs or other macro [economic] uncertainty."", '""Walmart has taken a page from rival Amazon\'s book, as it chases ways make money outside of retail.', 'Those newer moneymakers worked in its favor in the fourth quarter.', ""Its advertising business and third-party marketplace are small compared with Amazon's, but have posted gains and driven higher margins than Walmart's retail business."", ""Global membership income grew by 16% year over year, with some of that coming from its subscription-based membership program, Walmart+, in addition to warehouse club Sam's Club."", 'Its global advertising business grew 29%, including a 24% increase in Walmart Connect.', ""Walmart's third-party marketplace and its fulfillment services segment, which packs and ships orders for marketplace sellers, also rose by double digits."", '""These are all higher margin, faster-growing parts of our business where the math is just suggesting that our margins are going up over time,"" he said on the call with CNBC. ""', ""And frankly, I don't see any end to this."", '""Faster and more frequent deliveries have helped Walmart\'s e-commerce business become more profitable.', 'On the earnings call, Rainey said the delivery routes for Walmart have become denser as customers place more orders.', 'Plus, he said, shoppers have shown a willingness to pay more to speed online orders to their doors.', 'Over 30% of Walmart customers who have an item delivered from a store have paid an extra fee to have that delivered within a few hours, Rainey said.', 'On Christmas Eve, he said, 77% of orders were express deliveries.', ""Those faster deliveries, which are made in less than two hours, cost an additional $10.One of Walmart's newer services, pharmacy deliveries, is a growth opportunity, too, Walmart U.S. CEO John Furner said on the earnings call."", 'The deliveries began in October in six states, but have expanded across the country.', 'As customers order a prescription for a sick family member or place an order for their regular medication, many are buying other items like groceries, Furner said.', 'Walmart also hiked its dividend by 13% to 94 cents per share, the largest increase in more than a decade.', ""As of Wednesday's close, shares of Walmart are up about 83% over the past year."", 'The stock closed on Wednesday at $104.00, up about 15% so far this year and outpacing the approximately 4% gains of the S&P 500 during the same period.']",0.1479161236306951,"Walmart said holiday-quarter revenue rose about 4% and e-commerce sales shot up 20% in the U.S., as growth in store pickup and home deliveries and gains with upper-income shoppers boosted results.","Yet those restaurants and some retail experts have blamed short-term factors for the drop, including winter storms, consumers taking a break after splurging over the holidays and contending with damage and disruption from the Los Angeles wildfires.",0.5035282953365429,"Global membership income grew by 16% year over year, with some of that coming from its subscription-based membership program, Walmart+, in addition to warehouse club Sam's Club.","In this articleWalmart shares fell more than 6% Thursday, as the big-box retailer said profit growth will slow this fiscal year even as sales continue to climb.",2025-02-25
JetBlue talking to 'multiple airlines' about a new partnership,https://www.cnbc.com/2025/02/19/jetblue-talking-to-multiple-airlines-about-a-new-partnership.html,2025-02-19T17:19:01+0000,"In this articleJetBlue Airways is talking with ""multiple airlines"" about a potential new partnership after federal judges struck down two previous deals, the carrier's president said Wednesday.""If we find a deal that's accretive, we'll absolutely do it,"" JetBlue's president, Marty St. George, said at a Barclays industry conference.A federal judge in 2023 ruled the New York airline's partnership in the Northeast with American Airlines was anticompetitive, while a different judge last year blocked JetBlue's plan to acquire budget carrier Spirit Airlines, which filed for Chapter 11 bankruptcy protection last year.JetBlue representatives didn't immediately respond to a request for comment.JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.St. George said a potential tie-up would benefit the company's loyalty program, noting that customers say the frequent flyer points on JetBlue are not as strong as those of the big three U.S. carriers.""Given that we really don't have full global earn and burn, I think to be able to add that to our network would be very, very helpful,"" he said.",CNBC,19/02/2025,"['In this articleJetBlue Airways is talking with ""multiple airlines"" about a potential new partnership after federal judges struck down two previous deals, the carrier\'s president said Wednesday.', '""Ifwefindadealthat\'saccretive,we\'llabsolutelydoit,"" JetBlue\'s president, Marty St. George, said at a Barclays industry conference.', ""A federal judge in 2023 ruled the New York airline's partnership in the Northeast with American Airlines was anticompetitive, while a different judge last year blocked JetBlue's plan to acquire budget carrier Spirit Airlines, which filed for Chapter 11 bankruptcy protection last year."", ""JetBlue representatives didn't immediately respond to a request for comment."", 'JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.', ""St. George said a potential tie-up would benefit the company's loyalty program, noting that customers say the frequent flyer points on JetBlue are not as strong as those of the big three U.S. carriers."", '""Giventhatwereallydon\'thavefullglobalearnandburn,Ithinkto be able to add that to our network would be very, very helpful,"" he said.']",0.2241784982131064,"JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.","In this articleJetBlue Airways is talking with ""multiple airlines"" about a potential new partnership after federal judges struck down two previous deals, the carrier's president said Wednesday.",0.5034344792366028,"JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.","A federal judge in 2023 ruled the New York airline's partnership in the Northeast with American Airlines was anticompetitive, while a different judge last year blocked JetBlue's plan to acquire budget carrier Spirit Airlines, which filed for Chapter 11 bankruptcy protection last year.",2025-02-25
Hasbro says it's taking steps to offset China tariff effects,https://www.cnbc.com/2025/02/20/hasbro-has-earnings-q4-2024.html,2025-02-20T17:39:48+0000,"In this articleToy and gaming giant Hasbro took an optimistic tone Thursday on the potential effect of Chinese tariffs on its business, as executives said the company is shifting manufacturing away from China.Hasbro Chief Financial Officer Gina Goetter said on the company's fourth-quarter earnings call that the toymaker's 2025 guidance — which includes adjusted EBITDA of $1.1 billion to $1.15 billion, compared with $1.06 billion in 2024 — reflects the anticipated effect of U.S. tariffs on China, Mexico and Canada. It also reflects ""mitigating actions we plan to take, including leveraging the strength of our supply chain and potential pricing,"" the company said in a news release.Rival toymaker Mattel previously said it could increase the prices of toys such as Hot Wheels and Barbie in response to tariffs. President Donald Trump imposed 10% tariffs on China in early February and is set to add 25% tariffs on Mexico and Canada in March after pausing their initial implementation for 30 days.Hasbro is on track to cut the volume of U.S. toys and games that originate from China from 50% to less than 40% over the next two years, Goetter said. Hasbro does not source from Canada and has ""minimal"" imports from Mexico, she said.""Really, it's a China story for us,"" Goetter said.Hasbro CEO Chris Cocks said on the call that even when accounting for tariffs, the toymaker expects ""flattish"" performance from the broader industry this year, with trading cards and building blocks leading the way. The company's licensing business, he added, is one of its biggest margin drivers and will not be affected much by tariffs.""It's relatively [unexposed] to some of the tariff drama that's going on right now,"" Cocks said.Hasbro also on Thursday announced a licensing collaboration with Mattel to create Play-Doh versions of Mattel's Barbie dolls.""Play-Doh Barbie allows children to unlock their inner fashion designer, creating Play-Doh fashions with amazing ruffles, bows and realistic fabric textures, all made with every kid's favorite dough for a never-before-seen creativity experience,"" Cocks said.Shares of Hasbro gained roughly 10% in morning trading Thursday.Here's how Hasbro performed in the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Fourth-quarter revenue fell 15% from $1.29 billion during the same quarter in 2023. Full-year 2024 revenue came in at $4.14 billion, down 17% from $5 billion in 2023.The company partially attributed the numbers to its divestiture from its eOne film and TV business, which it sold to Lionsgate in December 2023. When excluding the divestiture, the company said, full-year revenue declined 7%.Hasbro's digital and licensed gaming revenue increased 35% to $132 million in the fourth quarter compared to the same period in 2023. For full-year 2024, Hasbro's digital and licensed gaming revenue increased 22% to $471.7 million. Mobile game Monopoly Go! contributed $112 million in 2024 revenue.Hasbro reported a net loss for the fourth quarter of $26.5 million, or a loss of 25 cents per share, compared with a net loss of $1.06 billion, or a loss of $7.64 per share, during the fourth quarter of 2023.Adjusting for costs associated with restructuring and the eOne divestiture, among other one-time items, Hasbro reported fourth-quarter earnings of 46 cents per share, topping Wall Street expectations.",CNBC,20/02/2025,"['In this articleToy and gaming giant Hasbro took an optimistic tone Thursday on the potential effect of Chinese tariffs on its business, as executives said the company is shifting manufacturing away from China.', ""Hasbro Chief Financial Officer Gina Goetter said on the company's fourth-quarter earnings call that the toymaker's 2025 guidance — which includes adjusted EBITDA of $1.1 billion to $1.15 billion, compared with $1.06 billion in 2024 — reflects the anticipated effect of U.S. tariffs on China, Mexico and Canada."", 'It also reflects ""mitigating actions we plan to take, including leveraging the strength of our supply chain and potential pricing,"" the company said in a news release.', 'Rival toymaker Mattel previously said it could increase the prices of toys such as Hot Wheels and Barbie in response to tariffs.', 'President Donald Trump imposed 10% tariffs on China in early February and is set to add 25% tariffs on Mexico and Canada in March after pausing their initial implementation for 30 days.', 'Hasbro is on track to cut the volume of U.S. toys and games that originate from China from 50% to less than 40% over the next two years, Goetter said.', 'Hasbro does not source from Canada and has ""minimal"" imports from Mexico, she said.', '""Really, it\'s a China story for us,"" Goetter said.', 'Hasbro CEO Chris Cocks said on the call that even when accounting for tariffs, the toymaker expects ""flattish"" performance from the broader industry this year, with trading cards and building blocks leading the way.', ""The company's licensing business, he added, is one of its biggest margin drivers and will not be affected much by tariffs."", '""It\'s relatively [unexposed] to some of the tariff drama that\'s going on right now,"" Cocks said.', ""Hasbro also on Thursday announced a licensing collaboration with Mattel to create Play-Doh versions of Mattel's Barbie dolls."", '""Play-Doh Barbie allows children to unlock their inner fashion designer, creating Play-Doh fashions with amazing ruffles, bows and realistic fabric textures, all made with every kid\'s favorite dough for a never-before-seen creativity experience,"" Cocks said.', 'Shares of Hasbro gained roughly 10% in morning trading Thursday.', ""Here's how Hasbro performed in the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Fourth-quarter revenue fell 15% from $1.29 billion during the same quarter in 2023."", 'Full-year 2024 revenue came in at $4.14 billion, down 17% from $5 billion in 2023.The company partially attributed the numbers to its divestiture from its eOne film and TV business, which it sold to Lionsgate in December 2023.', ""When excluding the divestiture, the company said, full-year revenue declined 7%.Hasbro's digital and licensed gaming revenue increased 35% to $132 million in the fourth quarter compared to the same period in 2023."", ""For full-year 2024, Hasbro's digital and licensed gaming revenue increased 22% to $471.7 million."", 'Mobile game Monopoly Go!', 'contributed $112 million in 2024 revenue.', 'Hasbro reported a net loss for the fourth quarter of $26.5 million, or a loss of 25 cents per share, compared with a net loss of $1.06 billion, or a loss of $7.64 per share, during the fourth quarter of 2023.Adjusting for costs associated with restructuring and the eOne divestiture, among other one-time items, Hasbro reported fourth-quarter earnings of 46 cents per share, topping Wall Street expectations.']",0.1379706357423414,"""Play-Doh Barbie allows children to unlock their inner fashion designer, creating Play-Doh fashions with amazing ruffles, bows and realistic fabric textures, all made with every kid's favorite dough for a never-before-seen creativity experience,"" Cocks said.","Hasbro reported a net loss for the fourth quarter of $26.5 million, or a loss of 25 cents per share, compared with a net loss of $1.06 billion, or a loss of $7.64 per share, during the fourth quarter of 2023.Adjusting for costs associated with restructuring and the eOne divestiture, among other one-time items, Hasbro reported fourth-quarter earnings of 46 cents per share, topping Wall Street expectations.",0.3427503475776085,"For full-year 2024, Hasbro's digital and licensed gaming revenue increased 22% to $471.7 million.","Here's how Hasbro performed in the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Fourth-quarter revenue fell 15% from $1.29 billion during the same quarter in 2023.",2025-02-25
Home sales drop sharply as prices hit an all-time high for January,https://www.cnbc.com/2025/02/21/january-home-sales-drop-sharply-as-prices-hit-high.html,2025-02-21T16:35:31+0000,"The U.S. housing market continues to weaken, as potential buyers face stubbornly high mortgage rates, elevated prices and limited supply of listings.Sales of previously owned homes fell 4.9% in January from the prior month to 4.08 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Analysts were expecting a 2.6% decline.Sales were 2% higher than January 2024, but are still running at a roughly 15-year low.This read is based on closings, so contracts likely signed in November and December when mortgage rates came down from over 7% to the 6% range.""Mortgage rates have refused to budge for several months despite multiple rounds of short-term interest rate cuts by the Federal Reserve,"" said Lawrence Yun, chief economist for the NAR. ""When combined with elevated home prices, housing affordability remains a major challenge.""There were 1.18 million homes for sale at the end of January, an increase of 3.5% from December and 17% from January 2024. Although inventory is gaining, it is still at a 3.5-month supply at the current sales pace. A six-month supply is considered balanced between buyer and seller.The average home for sale last month spent 41 days on the market. That is the longest since January 2020, pre-Covid.Tight supply continues to pressure prices. The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January. All four regions tracked by NAR saw price gains. About 15% of homes sold above list price, virtually unchanged from 16% in both the pervious month and the year-earlier period.""More housing supply allows strongly qualified buyers to enter the market,"" Yun added. ""But for many consumers, both increased inventory and lower mortgage rates are necessary for them to purchase a different home or become first-time homeowners.""All-cash offers made up 29% of sales, which is historically high but down from 32% the year before. First-time buyers are still struggling, accounting for 28% of sales. That share is unchanged from a year ago, but is well below historical averages of about 40%.Home sales are faring significantly better at higher price points and falling at lower price points. For example, sales of homes priced between $100,000 and $250,000 dropped 1.2% year over year, while homes priced over $1 million rose nearly 27% from the year before.Realtors are reporting that buyer traffic in January was weak.""Realtors are putting more signs up, but the buyers are not coming,"" said Yun.",CNBC,21/02/2025,"['The U.S. housing market continues to weaken, as potential buyers face stubbornly high mortgage rates, elevated prices and limited supply of listings.', 'Sales of previously owned homes fell 4.9% in January from the prior month to 4.08 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.', 'Analysts were expecting a 2.6% decline.', 'Sales were 2% higher than January 2024, but are still running at a roughly 15-year low.', 'This read is based on closings, so contracts likely signed in November and December when mortgage rates came down from over 7% to the 6% range.', '""Mortgage rates have refused to budge for several months despite multiple rounds of short-term interest rate cuts by the Federal Reserve,"" said Lawrence Yun, chief economist for the NAR. ""', 'When combined with elevated home prices, housing affordability remains a major challenge.', '""There were 1.18 million homes for sale at the end of January, an increase of 3.5% from December and 17% from January 2024.', 'Although inventory is gaining, it is still at a 3.5-month supply at the current sales pace.', 'A six-month supply is considered balanced between buyer and seller.', 'The average home for sale last month spent 41 days on the market.', 'That is the longest since January 2020, pre-Covid.', 'Tight supply continues to pressure prices.', 'The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January.', 'All four regions tracked by NAR saw price gains.', 'About 15% of homes sold above list price, virtually unchanged from 16% in both the pervious month and the year-earlier period.', '""More housing supply allows strongly qualified buyers to enter the market,"" Yun added. ""', 'But for many consumers, both increased inventory and lower mortgage rates are necessary for them to purchase a different home or become first-time homeowners.', '""All-cash offers made up 29% of sales, which is historically high but down from 32% the year before.', 'First-time buyers are still struggling, accounting for 28% of sales.', 'That share is unchanged from a year ago, but is well below historical averages of about 40%.Home sales are faring significantly better at higher price points and falling at lower price points.', 'For example, sales of homes priced between $100,000 and $250,000 dropped 1.2% year over year, while homes priced over $1 million rose nearly 27% from the year before.', 'Realtors are reporting that buyer traffic in January was weak.', '""Realtors are putting more signs up, but the buyers are not coming,"" said Yun.']",-0.0161353952590391,"That share is unchanged from a year ago, but is well below historical averages of about 40%.Home sales are faring significantly better at higher price points and falling at lower price points.","The U.S. housing market continues to weaken, as potential buyers face stubbornly high mortgage rates, elevated prices and limited supply of listings.",-0.2006452977657318,"The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January.","Sales of previously owned homes fell 4.9% in January from the prior month to 4.08 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.",2025-02-25
"IMAX CEO expects $1.2 billion in box office receipts this year, the best in the company's history",https://www.cnbc.com/2025/02/21/imax-ceo-2025-box-office-receipt-expectations.html,2025-02-21T16:42:31+0000,"In this articleAn ""embarrassment of riches"" at the box office could fuel a $1.2 billion year for IMAX, CEO Rich Gelfond told CNBC on Friday.That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.""I think it's going to be a very strong year,"" Gelfond said in an interview with CNBC's ""Squawk on the Street."" ""The first thing that drives that is the slate.""Gelfond pointed to several blockbuster titles slated for release in the next 10 months, including a new ""Mission Impossible,"" a live-action ""How to Train Your Dragon"" film, another ""Jurassic Park"" installment, a sequel to ""Zootopia"" and a third ""Avatar"" release.Hollywood production issues led to fewer theatrical releases and smaller ticket sales in 2024, with box office receipts down 3.4% from 2023 to $8.74 billion. Already, the 2025 slate appears more robust, with more titles and bigger franchise films.Aiding IMAX's lofty box office goals is the Chinese title ""Ne Zha 2,"" which has already garnered $1.6 billion globally. It is the first film to have topped $1 billion in a single country. Gelfond noted that IMAX accounted for $135 million of the film's total box office.""We've done more box office in China in the first six weeks of this year than we did the whole year last year,"" he said.He added that ""Ne Zha 2"" is doing ""like $100 million a day,"" and that IMAX has accounted for around 13% of the film's box office receipts.Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal is the distributor of ""How to Train Your Dragon"" and ""Jurassic World Rebirth.""",CNBC,21/02/2025,"['In this articleAn ""embarrassment of riches"" at the box office could fuel a $1.2 billion year for IMAX, CEO Rich Gelfond told CNBC on Friday.', 'That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.', '""I think it\'s going to be a very strong year,"" Gelfond said in an interview with CNBC\'s ""Squawk on the Street."" ""', 'The first thing that drives that is the slate.', '""Gelfond pointed to several blockbuster titles slated for release in the next 10 months, including a new ""Mission Impossible,"" a live-action ""How to Train Your Dragon"" film, another ""Jurassic Park"" installment, a sequel to ""Zootopia"" and a third ""Avatar"" release.', 'Hollywood production issues led to fewer theatrical releases andsmaller ticket sales in 2024,with box office receipts down 3.4% from 2023 to $8.74 billion.', 'Already, the 2025 slate appears more robust, with more titles and bigger franchise films.', 'Aiding IMAX\'s lofty box office goals is the Chinese title ""Ne Zha 2,"" which has already garnered $1.6 billion globally.', 'It is the first film to have topped $1 billion in a single country.', ""Gelfond noted that IMAX accounted for $135 million of the film's total box office."", '""We\'ve done more box office in China in the first six weeks of this year than we did the whole year last year,"" he said.', 'He added that ""Ne Zha 2"" is doing ""like $100 million a day,"" and that IMAX has accounted for around 13% of the film\'s box office receipts.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.', 'NBCUniversal is the distributor of ""How to Train Your Dragon"" and ""Jurassic World Rebirth.""']",0.2270888195132322,"That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.",,0.4861024692654609,"That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.","Hollywood production issues led to fewer theatrical releases andsmaller ticket sales in 2024,with box office receipts down 3.4% from 2023 to $8.74 billion.",2025-02-25
Carvana expects another 'strong' year after topping fourth-quarter expectations,https://www.cnbc.com/2025/02/19/carvana-cvna-earnings-q4-2024.html,2025-02-20T14:45:04+0000,"In this articleCarvana topped Wall Street's top- and bottom-line expectations for the fourth quarter while guiding for another ""strong"" year in 2025.Carvana, as it has in the past, gave a broad guidance outlook for this year that includes growth in both retail units sold and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, including sequential increases in both during the first quarter.Shares of Carvana fell more than 10% during after-hours trading Wednesday. The stock closed at $281.82, down roughly 1%. Wall Street analysts largely attributed the drop to high investor expectations and the vague forecast for 2025.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Revenue of $3.55 billion was up 46% from $2.42 billion in the prior-year period. Full-year 2024 revenue came in at $13.67 billion, up almost 27% from $10.77 billion in 2023.For 2024, the Tempe, Arizona-based company reported adjusted EBITDA of $1.38 billion and net income of roughly $404 million. That includes adjusted EBITDA of $359 million and net income of $159 million during the fourth quarter. Fourth-quarter net income marks major improvement from a loss of $200 million in the same period a year earlier.On a per-share basis, the company reported earnings of 56 cents for the December period, compared with a loss of $1 per share during the same quarter in 2023.Both the yearly and quarterly results were records for Carvana.Carvana said it sold 416,348 retail vehicles last year, up roughly 33% from the year before, for record total annual revenue of $13.67 billion in 2024. Its total gross profit per unit for the fourth quarter and full year was $6,671 and $6,908, respectively. Both metrics were up nearly $1,400 from 2023.""With just ~1% market share today and many opportunities to improve and expand our offering from here, we know this is just the beginning of our journey to change the way people buy and sell cars,"" Carvana CEO and co-founder Ernie Garcia said in a news release.Shares of Carvana are up roughly 40% in 2025, adding to last year's nearly 285% gain.",CNBC,20/02/2025,"['In this articleCarvana topped Wall Street\'s top- and bottom-line expectations for the fourth quarter while guiding for another ""strong"" year in 2025.Carvana, as it has in the past, gave a broad guidance outlook for this year that includes growth in both retail units sold and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, including sequential increases in both during the first quarter.', 'Shares of Carvana fell more than 10% during after-hours trading Wednesday.', 'The stock closed at $281.82, down roughly 1%.', ""Wall Street analysts largely attributed the drop to high investor expectations and the vague forecast for 2025.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Revenue of $3.55 billion was up 46% from $2.42 billion in the prior-year period."", 'Full-year 2024 revenue came in at $13.67 billion, up almost 27% from $10.77 billion in 2023.For 2024, the Tempe, Arizona-based company reported adjusted EBITDA of $1.38 billion and net income of roughly $404 million.', 'That includes adjusted EBITDA of $359 million and net income of $159 million during the fourth quarter.', 'Fourth-quarter net income marks major improvement from a loss of $200 million in the same period a year earlier.', 'On a per-share basis, the company reported earnings of 56 cents for the December period, compared with a loss of $1 per share during the same quarter in 2023.Both the yearly and quarterly results were records for Carvana.', 'Carvana said it sold 416,348 retail vehicles last year, up roughly 33% from the year before, for record total annual revenue of $13.67 billion in 2024.', 'Its total gross profit per unit for the fourth quarter and full year was $6,671 and $6,908, respectively.', 'Both metrics were up nearly $1,400 from 2023.""With just ~1% market share today and many opportunities to improve and expand our offering from here, we know this is just the beginning of our journey to change the way people buy and sell cars,"" Carvana CEO and co-founder Ernie Garcia said in a news release.', ""Shares of Carvana are up roughly 40% in 2025, adding to last year's nearly 285% gain.""]",0.2607568984639571,"In this articleCarvana topped Wall Street's top- and bottom-line expectations for the fourth quarter while guiding for another ""strong"" year in 2025.Carvana, as it has in the past, gave a broad guidance outlook for this year that includes growth in both retail units sold and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, including sequential increases in both during the first quarter.","Wall Street analysts largely attributed the drop to high investor expectations and the vague forecast for 2025.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Revenue of $3.55 billion was up 46% from $2.42 billion in the prior-year period.",0.6003282845020295,"Full-year 2024 revenue came in at $13.67 billion, up almost 27% from $10.77 billion in 2023.For 2024, the Tempe, Arizona-based company reported adjusted EBITDA of $1.38 billion and net income of roughly $404 million.",Shares of Carvana fell more than 10% during after-hours trading Wednesday.,2025-02-25
Amazon to gain creative control of James Bond franchise from Broccoli family,https://www.cnbc.com/2025/02/20/amazon-wins-creative-control-of-james-bond-franchise-from-broccoli-family.html,2025-02-20T16:11:02+0000,"In this articleAmazon is set to take creative control over the lucrative James Bond movie franchise from the Broccoli family, the company announced Thursday.The James Bond films have long been produced by Michael Wilson and Barbara Broccoli, who inherited the control from their father Albert ""Cubby"" Broccoli. Wilson and Broccoli will now give creative control to MGM Studios, which Amazon acquired for $8.45 billion in 2021.Amazon gained distribution rights to the Bond franchise after the MGM acquisition, but not creative control.As part of the deal, Amazon's MGM Studios, Wilson and Broccoli formed a new joint venture to house the Bond intellectual property rights, and they will remain co-owners of the franchise.""We are grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G. Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide,"" said Mike Hopkins, Amazon's head of Prime Video and MGM Studios, in a statement. ""We are honored to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.""Wilson and Broccoli said in a release that they are both stepping back from producing the Bond films to focus on other projects.""Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future,"" Wilson said.In a nod to the deal, Amazon founder and Executive Chairman Jeff Bezos wrote in a post on X, ""Who'd you pick as the next Bond?""The Bond film franchise, which spans more than 60 years, is one of the highest-grossing series in history.The valuable IP stands to be a boon for Amazon's sprawling media and entertainment business, which includes the Prime Video streaming service. Prime Video is one of the key perks of Amazon Prime, the company's mainstay subscription service that costs $139 a year. As of 2021, the company said it had more than 200 million Prime subscribers worldwide.",CNBC,20/02/2025,"['In this articleAmazon is set to take creative control over the lucrative James Bond movie franchise from the Broccoli family, the company announced Thursday.', 'The James Bond films have long been produced by Michael Wilson and Barbara Broccoli, who inherited the control from their father Albert ""Cubby"" Broccoli.', 'Wilson and Broccoli will now give creative control to MGM Studios, which Amazon acquired for $8.45 billion in 2021.Amazon gained distribution rights to the Bond franchise after the MGM acquisition, but not creative control.', ""As part of the deal, Amazon's MGM Studios, Wilson and Broccoli formed a new joint venture to house the Bond intellectual property rights, and they will remain co-owners of the franchise."", '""We are grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G. Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide,"" said Mike Hopkins, Amazon\'s head of Prime Video and MGM Studios, in a statement. ""', 'We are honored to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.', '""Wilson and Broccoli said in a release that they are both stepping back from producing the Bond films to focus on other projects.', '""Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future,"" Wilson said.', 'In a nod to the deal, Amazon founder and Executive Chairman Jeff Bezos wrote in a post on X, ""Who\'d you pick as the next Bond?""The Bond film franchise, which spans more than 60 years, is one of the highest-grossing series in history.', ""The valuable IP stands to be a boon for Amazon's sprawling media and entertainment business, which includes the Prime Video streaming service."", ""Prime Video is one of the key perks of Amazon Prime, the company's mainstay subscription service that costs $139 a year."", 'As of 2021, the company said it had more than 200 million Prime subscribers worldwide.']",0.3701877652002461,"We are honored to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.",,0.951895236968994,"The valuable IP stands to be a boon for Amazon's sprawling media and entertainment business, which includes the Prime Video streaming service.",,2025-02-25
Walmart shares drop as retailer says profit growth will slow,https://www.cnbc.com/2025/02/20/walmart-wmt-q4-2025-earnings.html,2025-02-20T21:12:14+0000,"In this articleWalmart shares fell more than 6% Thursday, as the big-box retailer said profit growth will slow this fiscal year even as sales continue to climb.Walmart said holiday-quarter revenue rose about 4% and e-commerce sales shot up 20% in the U.S., as growth in store pickup and home deliveries and gains with upper-income shoppers boosted results. But its outlook disappointed Wall Street.In the fiscal year ahead, the discounter said it expects net sales to grow 3% to 4% and adjusted operating income to increase between 3.5% to 5.5% on a constant currency basis. The company said that includes a 150 basis point, or 1.5 percentage point, headwind from acquiring smart TV company Vizio and following a leap year in 2024. For the just completed fiscal year, Walmart posted adjusted operating income growth of 9.7% on a constant currency basis.The company also said it expects full-year adjusted earnings of $2.50 to $2.60 per share, which includes a 5 cent per share headwind from currency. That fell short of the $2.76 per share Wall Street had expected.In an interview with CNBC, Chief Financial Officer John David Rainey described consumer spending patterns as ""steady"" and said ""there's not any sharp changes that we've seen.""Yet he acknowledged ""there's far from certainty in the geopolitical landscape.""About two-thirds of what Walmart sells is made, grown or assembled in the U.S. Yet if tariffs on imports from Mexico and Canada take effect, he said Walmart is ""not going to be completely immune.""""We've lived in a tariff environment for the last seven or eight years, and we'll do what we know how to do,"" he said. ""We'll work with suppliers. We'll lean into our private brand. We'll shift supply where necessary to try to take advantage of lower costs that we can then pass on to consumers.""Since Walmart is not sure if the tariffs will take effect next month, the company did not factor them into its guidance, Rainey said.Here is what the big-box retailer reported for the fiscal fourth quarter compared with Wall Street's estimates, according to a survey of analysts by LSEG:In the three-month period that ended Jan. 31, Walmart's net income fell to $5.25 billion, or 65 cents per share, compared with $5.49 billion or 68 cents per share in the year-ago period. Revenue rose from $173.39 billion in the year-ago quarter. The company's adjusted earnings per share figure excluded one-time items, including opioid-related legal costs and gains and losses on equity and other investments.Comparable sales, an industry metric also known as same-store sales, increased 4.6% for Walmart's U.S. business and 6.8% for Sam's Club, excluding fuel.Walmart's e-commerce sales in the U.S. soared 20% compared with the year-ago period. That marked the 11th straight quarter of double-digit gains. Global e-commerce sales rose 16%.In the Walmart U.S. segment, customers' store visits and purchases climbed, as transactions rose 2.8% and average ticket increased 1.8% year over year. Since Walmart is the nation's top grocer, investors often view it as a barometer of consumer health. Investors have tried to parse whether softer U.S. retail sales in January were a blip or warning sign. Wall Street also is trying to understand the potential impact of policy decisions, such as tariffs, on consumer spending. Restaurant chains, including Restaurant Brands' Burger King and Popeyes, said sales improved in the fourth quarter, but they had weak trends in January. Yet those restaurants and some retail experts have blamed short-term factors for the drop, including winter storms, consumers taking a break after splurging over the holidays and contending with damage and disruption from the Los Angeles wildfires.Rainey echoed those sentiments on the call with CNBC, saying cold weather and the wildfires hurt Walmart's sales. He said that's temporary, however, and doesn't indicate a change in consumer spending patterns.Even so, the big-box retailer faced many questions from retail analysts on Thursday's earnings call about the reasons for its conservative forecast.On the earnings call, Rainey said the outlook is consistent with Walmart's guidance for the last two years, when it projected operating income growth of 4% to 6% annually. If the company took out the impact from the Vizio acquisition and extra day from leap year, he said the outlook would be 5% to 7%, which would represent an acceleration from its previous guidance ranges.Still, he said, ""it's prudent to have an outlook that is somewhat measured.""""We have to acknowledge that we are in an uncertain time and we don't want to get out over our skis here,"" he said. ""There's a lot of the year to play out. Again, we feel good about our ability to navigate the environment, whether it's tariffs or other macro [economic] uncertainty.""Walmart has taken a page from rival Amazon's book, as it chases ways make money outside of retail. Those newer moneymakers worked in its favor in the fourth quarter. Its advertising business and third-party marketplace are small compared with Amazon's, but have posted gains and driven higher margins than Walmart's retail business.Global membership income grew by 16% year over year, with some of that coming from its subscription-based membership program, Walmart+, in addition to warehouse club Sam's Club. Its global advertising business grew 29%, including a 24% increase in Walmart Connect.Walmart's third-party marketplace and its fulfillment services segment, which packs and ships orders for marketplace sellers, also rose by double digits.""These are all higher margin, faster-growing parts of our business where the math is just suggesting that our margins are going up over time,"" he said on the call with CNBC. ""And frankly, I don't see any end to this.""Faster and more frequent deliveries have helped Walmart's e-commerce business become more profitable. On the earnings call, Rainey said the delivery routes for Walmart have become denser as customers place more orders. Plus, he said, shoppers have shown a willingness to pay more to speed online orders to their doors.Over 30% of Walmart customers who have an item delivered from a store have paid an extra fee to have that delivered within a few hours, Rainey said. On Christmas Eve, he said, 77% of orders were express deliveries. Those faster deliveries, which are made in less than two hours, cost an additional $10.One of Walmart's newer services, pharmacy deliveries, is a growth opportunity, too, Walmart U.S. CEO John Furner said on the earnings call. The deliveries began in October in six states, but have expanded across the country.As customers order a prescription for a sick family member or place an order for their regular medication, many are buying other items like groceries, Furner said.Walmart also hiked its dividend by 13% to 94 cents per share, the largest increase in more than a decade.As of Wednesday's close, shares of Walmart are up about 83% over the past year. The stock closed on Wednesday at $104.00, up about 15% so far this year and outpacing the approximately 4% gains of the S&P 500 during the same period.",CNBC,20/02/2025,"['In this articleWalmart shares fell more than 6% Thursday, as the big-box retailer said profit growth will slow this fiscal year even as sales continue to climb.', 'Walmart said holiday-quarter revenue rose about 4% and e-commerce sales shot up 20% in the U.S., as growth in store pickup and home deliveries and gains with upper-income shoppers boosted results.', 'But its outlook disappointed Wall Street.', 'In the fiscal year ahead, the discounter said it expects net sales to grow 3% to 4% and adjusted operating income to increase between 3.5% to 5.5% on a constant currency basis.', 'The company said that includes a 150 basis point, or 1.5 percentage point, headwind from acquiring smart TV company Vizio and following a leap year in 2024.For the just completed fiscal year, Walmart posted adjusted operating income growth of 9.7% on a constant currency basis.', 'The company also said it expects full-year adjusted earnings of $2.50 to $2.60 per share, which includes a 5 cent per share headwind from currency.', 'That fell short of the $2.76 per share Wall Street had expected.', 'In an interview with CNBC, Chief Financial Officer John David Rainey described consumer spending patterns as ""steady"" and said ""there\'s not any sharp changes that we\'ve seen.', '""Yet he acknowledged ""there\'s far from certainty in the geopolitical landscape.', '""About two-thirds of what Walmart sells is made, grown or assembled in the U.S. Yet if tariffs on imports from Mexico and Canada take effect, he said Walmart is ""not going to be completely immune.', '""""We\'ve lived in a tariff environment for the last seven or eight years, and we\'ll do what we know how to do,"" he said. ""', ""We'll work with suppliers."", ""We'll lean into our private brand."", ""We'll shift supply where necessary to try to take advantage of lower costs that we can then pass on to consumers."", '""Since Walmart is not sure if the tariffs will take effect next month, the company did not factor them into its guidance, Rainey said.', ""Here is what the big-box retailer reported for the fiscal fourth quarter compared with Wall Street's estimates, according to a survey of analysts by LSEG:In the three-month period that ended Jan. 31, Walmart's net income fell to $5.25 billion, or 65 cents per share, compared with $5.49 billion or 68 cents per share in the year-ago period."", 'Revenue rose from $173.39 billion in the year-ago quarter.', ""The company's adjusted earnings per share figure excluded one-time items, including opioid-related legal costs and gains and losses on equity and other investments."", ""Comparable sales, an industry metric also known as same-store sales, increased 4.6% for Walmart's U.S. business and 6.8% for Sam's Club, excluding fuel."", ""Walmart's e-commerce sales in the U.S. soared 20% compared with the year-ago period."", 'That marked the 11th straight quarter of double-digit gains.', ""Global e-commerce sales rose 16%.In the Walmart U.S. segment, customers' store visits and purchases climbed, as transactions rose 2.8% and average ticket increased 1.8% year over year."", ""Since Walmart is the nation's top grocer, investors often view it as a barometer of consumer health."", 'Investors have tried to parse whether softer U.S. retail sales in January were a blip or warning sign.', 'Wall Street also is trying to understand the potential impact of policy decisions, such as tariffs, on consumer spending.', ""Restaurant chains, including Restaurant Brands' Burger King and Popeyes, said sales improved in the fourth quarter, but they had weak trends in January."", 'Yet those restaurants and some retail experts have blamed short-term factors for the drop, including winter storms, consumers taking a break after splurging over the holidays and contending with damage and disruption from the Los Angeles wildfires.', ""Rainey echoed those sentiments on the call with CNBC, saying cold weather and the wildfires hurt Walmart's sales."", ""He said that's temporary, however, and doesn't indicate a change in consumer spending patterns."", ""Even so, the big-box retailer faced many questions from retail analysts on Thursday's earnings call about the reasons for its conservative forecast."", ""On the earnings call, Rainey said the outlook is consistent with Walmart's guidance for the last two years, when it projected operating income growth of 4% to 6% annually."", 'If the company took out the impact from the Vizio acquisition and extra day from leap year, he said the outlook would be 5% to 7%, which would represent an acceleration from its previous guidance ranges.', 'Still, he said, ""it\'s prudent to have an outlook that is somewhat measured.', '""""We have to acknowledge that we are in an uncertain time and we don\'t want to get out over our skis here,"" he said. ""', ""There's a lot of the year to play out."", ""Again, we feel good about our ability to navigate the environment, whether it's tariffs or other macro [economic] uncertainty."", '""Walmart has taken a page from rival Amazon\'s book, as it chases ways make money outside of retail.', 'Those newer moneymakers worked in its favor in the fourth quarter.', ""Its advertising business and third-party marketplace are small compared with Amazon's, but have posted gains and driven higher margins than Walmart's retail business."", ""Global membership income grew by 16% year over year, with some of that coming from its subscription-based membership program, Walmart+, in addition to warehouse club Sam's Club."", 'Its global advertising business grew 29%, including a 24% increase in Walmart Connect.', ""Walmart's third-party marketplace and its fulfillment services segment, which packs and ships orders for marketplace sellers, also rose by double digits."", '""These are all higher margin, faster-growing parts of our business where the math is just suggesting that our margins are going up over time,"" he said on the call with CNBC. ""', ""And frankly, I don't see any end to this."", '""Faster and more frequent deliveries have helped Walmart\'s e-commerce business become more profitable.', 'On the earnings call, Rainey said the delivery routes for Walmart have become denser as customers place more orders.', 'Plus, he said, shoppers have shown a willingness to pay more to speed online orders to their doors.', 'Over 30% of Walmart customers who have an item delivered from a store have paid an extra fee to have that delivered within a few hours, Rainey said.', 'On Christmas Eve, he said, 77% of orders were express deliveries.', ""Those faster deliveries, which are made in less than two hours, cost an additional $10.One of Walmart's newer services, pharmacy deliveries, is a growth opportunity, too, Walmart U.S. CEO John Furner said on the earnings call."", 'The deliveries began in October in six states, but have expanded across the country.', 'As customers order a prescription for a sick family member or place an order for their regular medication, many are buying other items like groceries, Furner said.', 'Walmart also hiked its dividend by 13% to 94 cents per share, the largest increase in more than a decade.', ""As of Wednesday's close, shares of Walmart are up about 83% over the past year."", 'The stock closed on Wednesday at $104.00, up about 15% so far this year and outpacing the approximately 4% gains of the S&P 500 during the same period.']",0.1479161236306951,"Walmart said holiday-quarter revenue rose about 4% and e-commerce sales shot up 20% in the U.S., as growth in store pickup and home deliveries and gains with upper-income shoppers boosted results.","Yet those restaurants and some retail experts have blamed short-term factors for the drop, including winter storms, consumers taking a break after splurging over the holidays and contending with damage and disruption from the Los Angeles wildfires.",0.5035282953365429,"Global membership income grew by 16% year over year, with some of that coming from its subscription-based membership program, Walmart+, in addition to warehouse club Sam's Club.","In this articleWalmart shares fell more than 6% Thursday, as the big-box retailer said profit growth will slow this fiscal year even as sales continue to climb.",2025-02-24
"Rivian beats Wall Street's fourth-quarter expectations, but expects lower deliveries in 2025",https://www.cnbc.com/2025/02/20/rivian-rivn-earnings-q4-2024.html,2025-02-24T18:09:56+0000,"In this articleRivian Automotive beat Wall Street's fourth-quarter earnings expectations and achieved its first gross quarterly profit — a target closely watched by investors — but is forecasting lower sales in 2025.The electric vehicle maker reported a gross profit, which includes production and sales but does not factor in other expenses, of $170 million during the final quarter of last year. Rivian said it plans to achieve another ""modest gross profit"" in 2025. It has not said when it expects to be profitable on a GAAP basis.For 2025, Rivian also expects to narrow its adjusted losses to a range of $1.7 billion to $1.9 billion, down from a loss of $2.69 billion in 2024. The company forecast deliveries of 46,000 units to 51,000 units for 2025, compared with 51,579 vehicles delivered last year.Shares of Rivian were up about 7% during after-hours trading Thursday before leveling off during the company's quarterly earnings call. The stock closed at $13.61 a share, down 2.3%.Rivian CEO RJ Scaringe told CNBC that there is ""a lot of uncertainty"" surrounding the automotive industry, specifically the potential removal of federal incentives for EVs and tariff policies that could affect the company.""We believe external factors could impact our 2025 expectations, including changes to government policies and regulations, and a challenging demand environment. While uncertainties persist, we remain focused on executing against our key value drivers and are confident in electrifying the world in the long term,"" Rivian said Thursday in a shareholder letter.For its 2025 guidance, Rivian Chief Financial Officer Claire McDonough said the company took into account ""hundreds of millions"" of dollars in expected hits to its EBITDA as a result of less sales due to an expected removal of tax credits.Rivian said it expects capital expenditures this year to be between $1.6 billion and $1.7 billion, up from $1.41 billion last year as it prepares to launch its new ""R2"" midsize vehicles in 2026. The company said it expects to idle its sole auto plant in Normal, Illinois, during the second half of the year to retool for the new vehicles.""We believe R2 will be truly transformative for our growth and profitability,"" McDonough told investors during the earnings call.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Beginning this quarterly report, Rivian is breaking out its ""Automotive"" and ""Software and Services"" units for additional transparency for investors. The automaker has plans to continue to grow its software business, including a new joint venture with German automaker Volkswagen.Rivian's quarterly gross profit and revenue were helped by $299 million from the sale of regulatory credits, as well as $214 million in software and services revenue. Rivian sells regulatory credits to other automakers to help them meet emissions standards, however future sales could be affected by changes to such regulations by the Trump administration.The company's net loss for the fourth quarter was $743 million, or 70 cents per share, compared to a loss of $1.52 billion, or $1.58 per share, during the same period a year earlier.For the full year, Rivian lost $4.75 billion, or $4.69 per share.Rivian's 2024 revenue was $4.97 billion, up roughly 12% from $4.43 billion in 2023. Fourth-quarter revenue was up more than 31% from the prior-year period.",CNBC,24/02/2025,"[""In this articleRivian Automotive beat Wall Street's fourth-quarter earnings expectations and achieved its first gross quarterly profit — a target closely watched by investors — but is forecasting lower sales in 2025.The electric vehicle maker reported a gross profit, which includes production and sales but does not factor in other expenses, of $170 million during the final quarter of last year."", 'Rivian said it plans to achieve another ""modest gross profit"" in 2025.', 'It has not said when it expects to be profitable on a GAAP basis.', 'For 2025, Rivian also expects to narrow its adjusted losses to a range of $1.7 billion to $1.9 billion, down from a loss of $2.69 billion in 2024.', 'The company forecast deliveries of 46,000 units to 51,000 units for 2025, compared with 51,579 vehicles delivered last year.', ""Shares of Rivian were up about 7% during after-hours trading Thursday before leveling off during the company's quarterly earnings call."", 'The stock closed at $13.61 a share, down 2.3%.Rivian CEO RJ Scaringe told CNBC that there is ""a lot of uncertainty"" surrounding the automotive industry, specifically the potential removal of federal incentives for EVs and tariff policies that could affect the company.', '""We believe external factors could impact our 2025 expectations, including changes to government policies and regulations, and a challenging demand environment.', 'While uncertainties persist, we remain focused on executing against our key value drivers and are confident in electrifying the world in the long term,"" Rivian said Thursday in a shareholder letter.', 'For its 2025 guidance, Rivian Chief Financial Officer Claire McDonough said the company took into account ""hundreds of millions"" of dollars in expected hits to its EBITDA as a result of less sales due to an expected removal of tax credits.', 'Rivian said it expects capital expenditures this year to be between $1.6 billion and $1.7 billion, up from $1.41 billion last year as it prepares to launch its new ""R2"" midsize vehicles in 2026.', 'The company said it expects to idle its sole auto plant in Normal, Illinois, during the second half of the year to retool for the new vehicles.', '""We believe R2 will be truly transformative for our growth and profitability,"" McDonough told investors during the earnings call.', 'Here\'s how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Beginning this quarterly report, Rivian is breaking out its ""Automotive"" and ""Software and Services"" units for additional transparency for investors.', 'The automaker has plans to continue to grow its software business, including anew joint venturewith German automaker Volkswagen.', ""Rivian's quarterly gross profit and revenue were helped by $299 million from the sale of regulatory credits, as well as $214 million in software and services revenue."", 'Rivian sells regulatory credits to other automakers to help them meet emissions standards, however future sales could be affected by changes to such regulations by the Trump administration.', ""The company's net loss for the fourth quarter was $743 million, or 70 cents per share, compared to a loss of $1.52 billion, or $1.58 per share, during the same period a year earlier."", 'For the full year, Rivian lost $4.75 billion, or $4.69 per share.', ""Rivian's 2024 revenue was $4.97 billion, up roughly 12% from $4.43 billion in 2023."", 'Fourth-quarter revenue was up more than 31% from the prior-year period.']",0.129083947650311,"""We believe R2 will be truly transformative for our growth and profitability,"" McDonough told investors during the earnings call.","For 2025, Rivian also expects to narrow its adjusted losses to a range of $1.7 billion to $1.9 billion, down from a loss of $2.69 billion in 2024.",0.46401513616244,"Rivian's 2024 revenue was $4.97 billion, up roughly 12% from $4.43 billion in 2023.","For its 2025 guidance, Rivian Chief Financial Officer Claire McDonough said the company took into account ""hundreds of millions"" of dollars in expected hits to its EBITDA as a result of less sales due to an expected removal of tax credits.",2025-02-24
"Shortage of Novo Nordisk's Wegovy and Ozempic drugs is resolved, FDA says",https://www.cnbc.com/2025/02/21/fda-shortage-of-novo-nordisks-wegovy-and-ozempic-drugs-is-resolved.html,2025-02-21T20:57:12+0000,"In this articleThe long-running U.S. shortage of Novo Nordisk's blockbuster weight loss injection Wegovy and diabetes treatment Ozempic is resolved after more than two years, the U.S. Food and Drug Administration said Friday. The FDA's decision will threaten the ability of compounding pharmacies to make far cheaper, unbranded versions of the injections over the next few months. Many patients relied on unapproved versions of Wegovy and Ozempic since compounding pharmacies are allowed to make versions of branded medications in short supply. Novo Nordisk's stock closed about 5% higher on Friday. Meanwhile, shares of Hims & Hers, a telehealth company offering compounded Wegovy and Ozempic, fell more than 25%.The active ingredient in both of Novo Nordisk's injectable drugs, semaglutide, has been in shortage in the U.S. since 2022 after demand skyrocketed. That has forced Novo Nordisk and its rival Eli Lilly to invest heavily to expand their manufacturing footprints for their respective weight loss and diabetes drugs — and it may be paying off. The FDA determined that Novo Nordisk's supply and manufacturing capacity for semaglutide injections can now meet the current and projected demand in the U.S. Still, the agency noted that patients and prescribers may still see ""intermittent and limited localized supply disruptions"" as products move through the supply chain to pharmacies. ""We are pleased the FDA has declared that supply of the only real, FDA-approved semaglutide medicines is resolved,"" Dave Moore, Novo Nordisk's executive vice president of U.S. operations and global business development, said in a statement.He added that ""no one should have to compromise their health due to misinformation and reach for fake or illegitimate knockoff drugs that pose significant safety risks to patients.""The FDA's announcement comes just months after the agency declared the shortage of tirzepatide — the active ingredient in Eli Lilly's weight loss injection Zepbound and diabetes counterpart Mounjaro — was over. The FDA's decision on Friday could better position Novo Nordisk to compete with Eli Lilly in the booming weight loss drug market, which some analysts say could be worth more than $150 billion annually after 2030. The agency's decision, based on a comprehensive analysis, essentially marks the end of a period where compounding pharmacies could make, distribute or dispense unapproved versions of semaglutide without facing repercussions for violations related to the treatment's shortage status.Compounding pharmacies must stop making compounded versions of semaglutide in the next 60 to 90 days, depending on the type of facility, the agency said. That transition period will likely give patients time to switch to the branded versions of the medications. But, in compliance with FDA rules, compounders can still make alternative versions of the drugs if they modify doses, add other ingredients or change the method of giving the treatment to meet a specific patient's needs. Some patients rely on compounded versions because they do not have insurance coverage for Novo Nordisk's drugs and cannot afford their hefty price tags of roughly $1,000 a month. While Ozempic is covered by most health plans, weight loss drugs such as Wegovy are not currently covered by Medicare and other insurance.",CNBC,21/02/2025,"[""In this articleThe long-running U.S. shortage of Novo Nordisk's blockbuster weight loss injection Wegovy and diabetes treatment Ozempic is resolved after more than two years, the U.S. Food and Drug Administration said Friday."", ""The FDA's decision will threaten the ability of compounding pharmacies to make far cheaper, unbranded versions of the injections over the next few months."", 'Many patients relied on unapproved versions of Wegovy and Ozempic since compounding pharmacies are allowed to make versions of branded medications in short supply.', ""Novo Nordisk's stock closed about 5% higher on Friday."", ""Meanwhile, shares of Hims & Hers, a telehealth company offering compounded Wegovy and Ozempic, fell more than 25%.The active ingredient in both of Novo Nordisk's injectable drugs, semaglutide, has been in shortage in the U.S. since 2022 after demand skyrocketed."", 'That has forced Novo Nordisk and its rival Eli Lilly to invest heavily to expand their manufacturing footprints for their respective weight loss and diabetes drugs — and it may be paying off.', 'The FDA determined that Novo Nordisk\'s supply and manufacturing capacity for semaglutide injections can now meet the current and projected demand in the U.S. Still, the agency noted that patients and prescribers may still see ""intermittent and limited localized supply disruptions"" as products move through the supply chain to pharmacies.', '""We are pleased the FDA has declared that supply of the only real, FDA-approved semaglutide medicines is resolved,"" Dave Moore, Novo Nordisk\'s executive vice president of U.S. operations and global business development, said in a statement.', 'He added that ""no one should have to compromise their health due to misinformation and reach for fake or illegitimateknockoff drugs that pose significantsafety risks to patients.', '""The FDA\'s announcement comes just months after the agency declared the shortage of tirzepatide — the active ingredient in Eli Lilly\'s weight loss injection Zepbound and diabetes counterpart Mounjaro — was over.', ""The FDA's decision on Friday could better position Novo Nordisk to compete with Eli Lilly in the booming weight loss drug market, which some analysts say could be worth more than $150 billion annually after 2030.The agency's decision, based on a comprehensive analysis, essentially marks the end of a period where compounding pharmacies could make, distribute or dispense unapproved versions of semaglutide without facing repercussions for violations related to the treatment's shortage status."", 'Compounding pharmacies must stop making compounded versions of semaglutide in the next 60 to 90 days, depending on the type of facility, the agency said.', 'That transition period will likely give patients time to switch to the branded versions of the medications.', ""But, in compliance with FDA rules, compounders can still make alternative versions of the drugs if they modify doses, add other ingredients or change the method of giving the treatment to meet a specific patient's needs."", ""Some patients rely on compounded versions because they do not have insurance coverage for Novo Nordisk's drugs and cannot afford their hefty price tags of roughly $1,000 a month."", 'While Ozempic is covered by most health plans, weight loss drugs such as Wegovy are not currently covered by Medicare and other insurance.']",-0.0605526260757713,"""We are pleased the FDA has declared that supply of the only real, FDA-approved semaglutide medicines is resolved,"" Dave Moore, Novo Nordisk's executive vice president of U.S. operations and global business development, said in a statement.","He added that ""no one should have to compromise their health due to misinformation and reach for fake or illegitimateknockoff drugs that pose significantsafety risks to patients.",0.1456703941027323,That has forced Novo Nordisk and its rival Eli Lilly to invest heavily to expand their manufacturing footprints for their respective weight loss and diabetes drugs — and it may be paying off.,"Meanwhile, shares of Hims & Hers, a telehealth company offering compounded Wegovy and Ozempic, fell more than 25%.The active ingredient in both of Novo Nordisk's injectable drugs, semaglutide, has been in shortage in the U.S. since 2022 after demand skyrocketed.",2025-02-24
KFC moves U.S. headquarters from Kentucky to Texas,https://www.cnbc.com/2025/02/18/kfc-moves-us-headquarters-from-kentucky-to-texas.html,2025-02-18T20:44:58+0000,"In this articleKFC is leaving Kentucky.The fried chicken chain's U.S. headquarters will move from Louisville, Kentucky, to Plano, Texas, owner Yum Brands said Tuesday.About 100 KFC U.S. employees will be required to relocate over the next six months.The relocation is part of Yum's broader plan to have two corporate headquarters: one in Plano, the other in Irvine, California. KFC and Pizza Hut's global teams are already based in Plano, while Taco Bell and the Habit Burger & Grill's teams are located in Irvine.Additionally, Yum's U.S. remote workforce, roughly 90 workers, will also be asked to move to the campus where their work is based.But Yum isn't entirely abandoning Kentucky. The company and the KFC Foundation plan to maintain corporate offices in Louisville. Plus, KFC still plans to build a new flagship restaurant in its former hometown.Since the Covid-19 pandemic, many employers have been rethinking the location of their corporate headquarters, often spurred to move because of lower taxes and changes to office space needs due to the hybrid or remote workforce. With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta. It later canceled plans to sell its old headquarters, instead opting to hold on to the building for the corporate workers who stayed in Louisville.",CNBC,18/02/2025,"['In this articleKFC is leaving Kentucky.', ""The fried chicken chain's U.S. headquarters will move from Louisville, Kentucky, to Plano, Texas, owner Yum Brands said Tuesday."", 'About 100 KFC U.S. employees will be required to relocate over the next six months.', ""The relocation is part of Yum's broader plan to have two corporate headquarters: one in Plano, the other in Irvine, California."", ""KFC and Pizza Hut's global teams are already based in Plano, while Taco Bell and the Habit Burger & Grill's teams are located in Irvine."", ""Additionally, Yum's U.S. remote workforce, roughly 90 workers, will also be asked to move to the campus where their work is based."", ""But Yum isn't entirely abandoning Kentucky."", 'The company and the KFC Foundation plan to maintain corporate offices in Louisville.', 'Plus, KFC still plans to build a new flagship restaurant in its former hometown.', 'Since the Covid-19 pandemic, many employers have been rethinking the location of their corporate headquarters, often spurred to move because of lower taxes and changes to office space needs due to the hybrid or remote workforce.', 'With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta.', 'It later canceled plans to sell its old headquarters, instead opting to hold on to the building for the corporate workers who stayed in Louisville.']",-0.0035000290756973,"With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta.",But Yum isn't entirely abandoning Kentucky.,0.7785136699676514,"With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta.",,2025-02-24
Walmart is getting a bump from a surprising cohort: Wealthier shoppers,https://www.cnbc.com/2025/02/19/walmart-earnings-wealthy-shoppers-boost-sales.html,2025-02-19T19:37:03+0000,"In this articleWalmart is known for its low prices and no frills approach.So it may come as a surprise that wealthier shoppers are helping to fuel the retailer's growth.For more than two years, the discounter has noticed more customers with six-figure incomes shopping on its website and in its stores. Households earning more than $100,000 made up 75% of the company's market share gains in the fiscal third quarter, Walmart CEO Doug McMillon said on the company's earnings call in November.Those newer and more frequent customers have helped support the company's aspirations to sell more higher-margin items, such as clothing and home goods. They are driving Walmart's e-commerce sales, which have grown by double digits for 10 consecutive quarters. And they can boost the retailer's newer revenue streams, such as subscription-based membership program Walmart+ and its advertising business Walmart Connect.As Walmart reports its latest earnings on Thursday, Wall Street will be watching whether those upper-income customers are sticking around, after market share gains helped the retailer's shares soar about 83% in the last year. Yet some investors have questioned whether Walmart's traction with affluent shoppers has staying power, especially if the sticker shock of inflation cools.In an interview with CNBC, Walmart U.S. CEO John Furner acknowledged that the retailer has gained and then lost upper-income customers before, such as in 2008 and 2009 during the Great Recession. Affluent shoppers stretched their dollars at the big-box retailer, but then ultimately returned to competitors.This time, Furner said the gains will last because Walmart can save shoppers both time and money with e-commerce options.""It's different because we deliver to you at the curb [of the store],"" he said in the late January interview. ""We deliver to your house. We deliver to your refrigerator. That whole Supercenter, which is an amazing retail format, is available in an hour or two for a large part of the country and growing really quickly.""Walmart's expanding digital services have helped convince higher-income shoppers to give it a shot, said Brad Thomas, a retail analyst and managing director at KeyBanc Capital Markets. Some of those newer or more frequent customers have joined Walmart+, a subscription-based membership program that includes perks like free home deliveries. Walmart+, which launched about five years ago, is Walmart's answer to Amazon Prime.Walmart has not disclosed the program's membership count, but it has reported double-digit membership income growth in each of the past four quarters.Thomas said e-commerce options wipe out a potential hurdle for affluent shoppers: a potential stigma about shopping at the big-box stores themselves.""There's a customer in America that doesn't think of itself as a Walmart shopper,"" he said. ""They think of themselves as a Target shopper or a Publix or a Whole Foods shopper and through the app and through the delivery capabilities, they can remain a non-Walmart core shopper, but get all the benefits of getting the branded items at Walmart prices.""As inflation forced shoppers of all incomes to hunt for deals, some wealthier consumers realized they can get the same national brands like Tide detergent or Bounty paper towels from Walmart cheaper and often faster than at Amazon because of Walmart's nearby stores, he said.Walmart's website and app have increased their selection, too, as the company has bulked up its third-party marketplace. Starting this summer, the company began offering premium beauty brands through its website, including hairdryers from T3 and perfumes from Victoria's Secret.Shoppers can now find handbags from Chanel and Louis Vuitton, too. Last month, Walmart announced a deal with resale platform Rebag, which sells the items through Walmart's marketplace.Yet as Walmart tries to keep those customers, it wants to encourage them to shop in person, as well. Walmart has stepped up investments in its stores to freshen its look and counter negative perceptions that higher-income shoppers might have.Walmart has sped up the pace of remodels for its more than 4,600 stores across the U.S., with plans to revamp about 650 locations per year, an acceleration from a prior cadence of 450 to 500 per year, said Hunter Hart, senior vice president of Walmart Realty.Remodeled stores have brighter lighting, wider aisles and mannequins, said Alvis Washington, Walmart's vice president of retail brand experience. The stores also feature Walmart's newer and more fashion-forward brands like Scoop and Free Assembly, and national brands that shoppers would recognize, such as Reebok.The discounter launched a new grocery brand, BetterGoods, last year with colorful packaging and creative flavors that looks similar to merchandise that shoppers might find at Trader Joe's or Target.Walmart U.S. CEO Furner said some of those changes have drawn upper-income customers to the company's stores and app.He said Walmart's market share gains with affluent shoppers have come from online and in-store shopping, but added curbside pickup orders showed early signs of popularity with those customers. Even before the pandemic, Walmart saw that people who shopped with curbside pickup bought more higher-priced items, such as prime beef and seafood, Furner added.He said that still rings true: Walmart sees more premium items in the shopping baskets of customers who buy online, get home deliveries or use curbside pickup.Washington said Walmart treaded carefully with its store redesign, realizing it could risk its reputation for low prices and resonance with core customers, who typically have lower incomes. It promoted newer brands, but mixed in familiar staples, such as folded piles of inexpensive bath towels and denim.""Having a great, elevated experience and great value aren't mutually exclusive,"" Walmart's Washington said, recounting the company's approach. ""So when we looked at this, it's like, how do we do both and make sure we can gain new customers and maintain the customers that we have?When comparing remodeled stores to the rest of the fleet, Washington said higher comparable store sales reflect that customers like the different look. Walmart declined to provide specific numbers, saying it won't release sales numbers until it reports fourth-quarter earnings.Walmart's customer mix for its U.S. e-commerce business hasn't changed, even as it attracts higher-income shoppers, according to an analysis by market research firm Euromonitor. About 34% of Walmart's online customers in the U.S. last year had incomes of $100,000 and above, which is roughly flat compared with two years prior.Michelle Evans, global lead for retail and digital shopper insights at Euromonitor, said that indicates that Walmart is also gaining market share from lower- and middle-income customers.Walmart still has a smaller share of higher-income shoppers than some key rivals: 49% and 48% of online U.S. shoppers at Target and Amazon, respectively, have incomes above $100,000.Amazon remains a formidable competitor, especially when it comes to wealthier shoppers and general merchandise categories, Evans said. But Walmart's biggest edge is its grocery department.One of Walmart's newer, higher-income shoppers is Francesca Frink. The 30-year-old lives in the Chicago suburb of Park Ridge, Illinois, with her husband, Sam, 1-year-old son and their English setter. The Frink family's combined annual household income is more than $200,000.Last fall, Francesca Frink signed up for Walmart+ after her mother-in-law ordered a stroller from Walmart's website and got it dropped at her door three hours later.Initially, she said she hesitated to order fresh foods from Walmart. She bought packaged items like pasta and flour. Yet over time, the couple began ordering a larger portion of groceries, dog treats and even clothes for their son from Walmart.The Frinks have stopped going to their old grocery store, Kroger-owned supermarket Mariano's. They estimate that their weekly grocery bill is about 20% cheaper.Previously, the couple said they avoided Walmart because their nearest store is outdated. Yet Sam Frink said the game has changed with curbside pickup and home deliveries.""You don't have to go in,"" he said. ""That's the biggest thing.""Francesca Frink said home deliveries from Walmart, included in their Walmart+ membership, save the couple time while they juggle two careers, a toddler and a dog. Plus, she said she found that Walmart had the grocery items she wanted and even those she didn't expect, including organic blueberries, natural peanut butter and specialty mushroom ravioli.Still, Francesca Frink said she still faces some apprehension from friends and family about buying groceries from Walmart.But she said they've been surprised when they've tried and liked food items from Walmart.In her day job, Euromonitor's Evans tracked Walmart's digital gains with higher-income shoppers. Yet she also saw it firsthand in her household.Her husband signed the family up for Walmart+. During the holiday season, he told her all of his Christmas purchases would be coming from the discounter.""He made a comment that all the gifts were coming from Walmart, and obviously that comes with a certain impression,"" she said.So she was surprised when she opened his gift and discovered it was a Michael Kors tote.",CNBC,19/02/2025,"['In this articleWalmart is known for its low prices and no frills approach.', ""So it may come as a surprise that wealthier shoppers are helping to fuel the retailer's growth."", 'For more than two years, the discounter has noticed more customers with six-figure incomes shopping on its website and in its stores.', ""Households earning more than $100,000 made up 75% of the company's market share gains in the fiscal third quarter, Walmart CEO Doug McMillon said on the company's earnings call in November."", ""Those newer and more frequent customers have helped support the company's aspirations to sell more higher-margin items, such as clothing and home goods."", ""They are driving Walmart's e-commerce sales, which have grown by double digits for 10 consecutive quarters."", ""And they can boost the retailer's newer revenue streams, such as subscription-based membership program Walmart+ and its advertising business Walmart Connect."", ""As Walmart reports its latest earnings on Thursday, Wall Street will be watching whether those upper-income customers are sticking around, after market share gains helped the retailer's shares soar about 83% in the last year."", ""Yet some investors have questioned whether Walmart's traction with affluent shoppers has staying power, especially if the sticker shock of inflation cools."", 'In an interview with CNBC, Walmart U.S. CEO John Furner acknowledged that the retailer has gained and then lost upper-income customers before, such as in 2008 and 2009 during the Great Recession.', 'Affluent shoppers stretched their dollars at the big-box retailer, but then ultimately returned to competitors.', 'This time, Furner said the gains will last because Walmart can save shoppers both time and money with e-commerce options.', '""It\'s different because we deliver to you at the curb [of the store],"" he said in the late January interview. ""', 'We deliver to your house.', 'We deliver to your refrigerator.', 'That whole Supercenter, which is an amazing retail format, is available in an hour or two for a large part of the country and growing really quickly.', '""Walmart\'s expanding digital services have helped convince higher-income shoppers to give it a shot, said Brad Thomas, a retail analyst and managing director atKeyBancCapital Markets.', 'Some of those newer or more frequent customers have joined Walmart+, a subscription-based membership program that includes perks like free home deliveries.', ""Walmart+, which launched about five years ago, is Walmart's answer to Amazon Prime."", ""Walmart has not disclosed the program's membership count, but it has reported double-digit membership income growth in each of the past four quarters."", 'Thomas said e-commerce options wipe out a potential hurdle for affluent shoppers: a potential stigma about shopping at the big-box stores themselves.', '""There\'s a customer in America that doesn\'t think of itself as a Walmart shopper,"" he said. ""', 'They think of themselves as a Target shopper or a Publix or a Whole Foods shopper and through the app and through the delivery capabilities, they can remain a non-Walmart core shopper, but get all the benefits of getting the branded items at Walmart prices.', '""As inflation forced shoppers of all incomes to hunt for deals, some wealthier consumers realized they can get the same national brands like Tide detergent or Bounty paper towels from Walmart cheaper and often faster than at Amazon because of Walmart\'s nearby stores, he said.', ""Walmart's website and app have increased their selection, too, as the company has bulked up its third-party marketplace."", ""Starting this summer, the company began offering premium beauty brands through its website, including hairdryers from T3 and perfumes from Victoria's Secret."", 'Shoppers can now find handbags from Chanel and Louis Vuitton, too.', ""Last month, Walmart announced a deal with resale platform Rebag, which sells the items through Walmart's marketplace."", 'Yet as Walmart tries to keep those customers, it wants to encourage them to shop in person, as well.', 'Walmart has stepped up investments in its stores to freshen its look and counter negative perceptions that higher-income shoppers might have.', 'Walmart has sped up the pace of remodels for its more than 4,600 stores across the U.S., with plans to revamp about 650 locations per year, an acceleration from a prior cadence of 450 to 500 per year, said Hunter Hart, senior vice president of Walmart Realty.', ""Remodeled stores have brighter lighting, wider aisles and mannequins, said Alvis Washington, Walmart's vice president of retail brand experience."", ""The stores also feature Walmart's newer and more fashion-forward brands like Scoop and Free Assembly, and national brands that shoppers would recognize, such as Reebok."", ""The discounter launched a new grocery brand, BetterGoods, last year with colorful packaging and creative flavors that looks similar to merchandise that shoppers might find at Trader Joe's or Target."", ""Walmart U.S. CEO Furner said some of those changes have drawn upper-income customers to the company's stores and app."", ""He said Walmart's market share gains with affluent shoppers have come from online and in-store shopping, but added curbside pickup orders showed early signs of popularity with those customers."", 'Even before the pandemic, Walmart saw that people who shopped with curbside pickup bought more higher-priced items, such as prime beef and seafood, Furner added.', 'He said that still rings true: Walmart sees more premium items in the shopping baskets of customers who buy online, get home deliveries or use curbside pickup.', 'Washington said Walmart treaded carefully with its store redesign, realizing it could risk its reputation for low prices and resonance with core customers, who typically have lower incomes.', 'It promoted newer brands, but mixed in familiar staples, such as folded piles of inexpensive bath towels and denim.', '""Having a great, elevated experience and great value aren\'t mutually exclusive,"" Walmart\'s Washington said, recounting the company\'s approach. ""', ""So when we looked at this, it's like, how do we do both and make sure we can gain new customers and maintain the customers that we have?When comparing remodeled stores to the rest of the fleet, Washington said higher comparable store sales reflect that customers like the different look."", ""Walmart declined to provide specific numbers, saying it won't release sales numbers until it reports fourth-quarter earnings."", ""Walmart's customer mix for its U.S. e-commerce business hasn't changed, even as it attracts higher-income shoppers, according to an analysis by market research firm Euromonitor."", ""About 34% of Walmart's online customers in the U.S. last year had incomes of $100,000 and above, which is roughly flat compared with two years prior."", 'Michelle Evans, global lead for retail and digital shopper insights at Euromonitor, said that indicates that Walmart is also gaining market share from lower- and middle-income customers.', 'Walmart still has a smaller share of higher-income shoppers than some key rivals: 49% and 48% of online U.S. shoppers at Target and Amazon, respectively, have incomes above $100,000.Amazon remains a formidable competitor, especially when it comes to wealthier shoppers and general merchandise categories, Evans said.', ""But Walmart's biggest edge is its grocery department."", ""One of Walmart's newer, higher-income shoppers is Francesca Frink."", 'The 30-year-old lives in the Chicago suburb of Park Ridge, Illinois, with her husband, Sam, 1-year-old son and their English setter.', ""The Frink family's combined annual household income is more than $200,000.Last fall, Francesca Frink signed up for Walmart+ after her mother-in-law ordered a stroller from Walmart's website and got it dropped at her door three hours later."", 'Initially, she said she hesitated to order fresh foods from Walmart.', 'She bought packaged items like pasta and flour.', 'Yet over time, the couple began ordering a larger portion of groceries, dog treats and even clothes for their son from Walmart.', ""The Frinks have stopped going to their old grocery store, Kroger-owned supermarket Mariano's."", 'They estimate that their weekly grocery bill is about 20% cheaper.', 'Previously, the couple said they avoided Walmart because their nearest store is outdated.', 'Yet Sam Frink said the game has changed with curbside pickup and home deliveries.', '""You don\'t have to go in,"" he said. ""', ""That's the biggest thing."", '""Francesca Frink said home deliveries from Walmart, included in their Walmart+ membership, save the couple time while they juggle two careers, a toddler and a dog.', ""Plus, she said she found that Walmart had the grocery items she wanted and even those she didn't expect, including organic blueberries, natural peanut butter and specialty mushroom ravioli."", 'Still, Francesca Frink said she still faces some apprehension from friends and family about buying groceries from Walmart.', ""But she said they've been surprised when they've tried and liked food items from Walmart."", ""In her day job, Euromonitor's Evans tracked Walmart's digital gains with higher-income shoppers."", 'Yet she also saw it firsthand in her household.', 'Her husband signed the family up for Walmart+.', 'During the holiday season, he told her all of his Christmas purchases would be coming from the discounter.', '""He made a comment that all the gifts were coming from Walmart, and obviously that comes with a certain impression,"" she said.', 'So she was surprised when she opened his gift and discovered it was a Michael Kors tote.']",0.2425235485871454,"""Having a great, elevated experience and great value aren't mutually exclusive,"" Walmart's Washington said, recounting the company's approach. ""","Washington said Walmart treaded carefully with its store redesign, realizing it could risk its reputation for low prices and resonance with core customers, who typically have lower incomes.",0.7540351612227304,"They are driving Walmart's e-commerce sales, which have grown by double digits for 10 consecutive quarters.","About 34% of Walmart's online customers in the U.S. last year had incomes of $100,000 and above, which is roughly flat compared with two years prior.",2025-02-24
Aviation industry urges Congress to approve emergency air traffic control funding,https://www.cnbc.com/2025/02/19/aviation-groups-urge-congress-for-emergency-air-traffic-control-funds.html,2025-02-19T18:07:54+0000,"The U.S. aviation industry on Wednesday urged Congress to approve ""robust emergency funding"" for air traffic control technology and staffing.Three weeks after a deadly midair collision near Washington, D.C., marked the worst air disaster in the U.S. since 2001, groups representing industry heavyweights like Boeing, major U.S. airlines, private aviation and a host of labor unions wrote to lawmakers calling for urgent funding and improvements to U.S. airspace.They also said the Federal Aviation Administration should be exempt from government shutdowns ""to ensure a predictable funding stream to ensure continued safety and air traffic control personnel hiring and training.""A 2019 government shutdown left federal workers without pay for several weeks, including air traffic controllers and airport screeners. That shutdown ended hours after staffing shortages snarled flights at several major U.S. airports.",CNBC,19/02/2025,"['The U.S. aviation industry on Wednesday urged Congress to approve ""robust emergency funding"" for air traffic control technology and staffing.', 'Three weeks after a deadly midair collision near Washington, D.C., marked the worst air disaster in the U.S. since 2001, groups representing industry heavyweights like Boeing, major U.S. airlines, private aviation and a host of labor unions wrote to lawmakers calling for urgent funding and improvements to U.S. airspace.', 'They also said the Federal Aviation Administration should be exempt from government shutdowns ""to ensure a predictable funding stream to ensure continued safety and air traffic control personnel hiring and training.', '""A 2019 government shutdown left federal workers without pay for several weeks, including air traffic controllers and airport screeners.', 'That shutdown ended hours after staffing shortages snarled flights at several major U.S. airports.']",-0.0085601619390845,"They also said the Federal Aviation Administration should be exempt from government shutdowns ""to ensure a predictable funding stream to ensure continued safety and air traffic control personnel hiring and training.","Three weeks after a deadly midair collision near Washington, D.C., marked the worst air disaster in the U.S. since 2001, groups representing industry heavyweights like Boeing, major U.S. airlines, private aviation and a host of labor unions wrote to lawmakers calling for urgent funding and improvements to U.S. airspace.",-0.3174776832262675,"The U.S. aviation industry on Wednesday urged Congress to approve ""robust emergency funding"" for air traffic control technology and staffing.",That shutdown ended hours after staffing shortages snarled flights at several major U.S. airports.,2025-02-24
Jamie Dimon calls U.S. government 'inefficient' and says Elon Musk's DOGE effort 'needs to be done',https://www.cnbc.com/2025/02/24/jamie-dimon-us-government-inefficient-touts-elon-musk-doge-effort.html,2025-02-24T20:41:11+0000,"In this articleJPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau.Dimon was asked by CNBC's Leslie Picker whether he supported efforts by Elon Musk's advisory body, the Department of Government Efficiency. He declined to give what he called a ""binary"" response, but made comments that supported the overall effort.""The government is inefficient, not very competent, and needs a lot of work,"" Dimon told Picker. ""It's not just waste and fraud, it's outcomes.""The Trump administration's effort to rein in spending and scrutinize federal agencies ""needs to be done,"" Dimon added.""Why are we spending the money on these things? Are we getting what we deserve? What should we change?"" Dimon said. ""It's not just about the deficit, its about building the right policies and procedures and the government we deserve.""Dimon said if DOGE overreaches with its cost-cutting efforts or engages in activity that's not legal, ""the courts will stop it.""""I'm hoping it's quite successful,"" he said.In the wide-ranging interview, Dimon also addressed his company's push to have most workers in office five days a week, as well as his views on the Ukraine conflict, tariffs and the U.S. consumer.",CNBC,24/02/2025,"['In this articleJPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau.', ""Dimon was asked by CNBC's Leslie Picker whether he supported efforts by Elon Musk's advisory body, the Department of Government Efficiency."", 'He declined to give what he called a ""binary"" response, but made comments that supported the overall effort.', '""The government is inefficient, not very competent, and needs a lot of work,"" Dimon told Picker. ""', ""It's not just waste and fraud, it's outcomes."", '""The Trump administration\'s effort to rein in spending and scrutinize federal agencies ""needs to be done,"" Dimon added.', '""Why are we spending the money on these things?', 'Are we getting what we deserve?', 'What should we change?""', 'Dimon said. ""', ""It's not just about the deficit, its about building the right policies and procedures and the government we deserve."", '""Dimon said if DOGE overreaches with its cost-cutting efforts or engages in activity that\'s not legal, ""the courts will stop it.', '""""I\'m hoping it\'s quite successful,"" he said.', ""In the wide-ranging interview, Dimon also addressed his company's push to have most workers in office five days a week, as well as his views on the Ukraine conflict, tariffs and the U.S. consumer.""]",0.0324484955139044,"""""I'm hoping it's quite successful,"" he said.","It's not just about the deficit, its about building the right policies and procedures and the government we deserve.",-0.4928240180015564,"""""I'm hoping it's quite successful,"" he said.",In this articleJPMorgan Chase CEO Jamie Dimon on Monday said the U.S. government is inefficient and in need of work as the Trump administration terminates thousands of federal employees and works to dismantle agencies including the Consumer Financial Protection Bureau.,2025-02-24
Yankees throw out one of baseball's most notorious traditions: Players can now grow beards,https://www.cnbc.com/2025/02/21/ny-yankees-beard-ban-is-over.html,2025-02-21T17:25:42+0000,"Start spreading the news: For the first time in nearly 50 years, the New York Yankees are allowing players to grow beards.In a statement Friday, Yankees owner Hal Steinbrenner said he spoke to former and current players about the long-standing policy preventing most facial hair and has decided the team will now permit ""well-groomed beards.""""These most recent conversations are an extension of ongoing internal dialogue that dates back several years,"" Steinbrenner wrote. ""It is the appropriate time to move beyond the familiar comfort of our former policy.""The news comes days after pitcher Devin Williams, whom the Yankees acquired from the Milwaukee Brewers during the offseason, sported some forbidden facial hair in an official team photo. Williams previously maintained a beard during his time with the Brewers.The Yankees' facial hair policy was first implemented by George Steinbrenner, the former Yankees owner and father of Hal Steinbrenner, in the 1970s. The policy banned any facial hair other than mustaches, with exceptions for religious reasons, and scalp hair below the collar for players, coaches and male executives.George Steinbrenner, who died in 2010, justified the rule as a way of instilling discipline in the team, reportedly telling The New York Times in 1978 that he wanted to ""to develop pride in the players as Yankees.""Since then, all players have abided by the policy, though not without some resistance. Famously, Yankees captain Don Mattingly was benched in 1991 for refusing to get a haircut, an incident mocked on a 1992 episode of ""The Simpsons."" Former Yankee Andrew McCutchen said in 2020 that it would have been difficult for him to join the team when he still had dreadlocks, which he wore during the early years of his career with the Pittsburgh Pirates, and called on the franchise to change the rule.The tradition has also turned some prospective Yankees away. General manager Brian Cashman said in 2013 that he ruled out trading for relief pitcher Brian Wilson because Wilson refused to shave his beard. Pitcher David Price said in 2013 that he did not want to play for the Yankees due to the policy.Many past and present players got rid of their beards when they joined the Yankees from another team, including Gerrit Cole, Johnny Damon and current offseason acquisitions Paul Goldschmidt and Cody Bellinger.",CNBC,21/02/2025,"['Start spreading the news: For the first time in nearly 50 years, the New York Yankees are allowing players to grow beards.', 'In a statement Friday, Yankees owner Hal Steinbrenner said he spoke to former and current players about the long-standing policy preventing most facial hair and has decided the team will now permit ""well-groomed beards.', '""""These most recent conversations are an extension of ongoing internal dialogue that dates back several years,"" Steinbrenner wrote. ""', 'It is the appropriate time to move beyond the familiar comfort of our former policy.', '""The news comes days after pitcher Devin Williams, whom the Yankees acquired from the Milwaukee Brewers during the offseason, sported some forbidden facial hair in an official team photo.', 'Williams previously maintained a beard during his time with the Brewers.', ""The Yankees' facial hair policy was first implemented by George Steinbrenner, the former Yankees owner and father of Hal Steinbrenner, in the 1970s."", 'The policy banned any facial hair other than mustaches, with exceptions for religious reasons, and scalp hair below the collar for players, coaches and male executives.', 'George Steinbrenner, who died in 2010, justified the rule as a way of instilling discipline in the team, reportedly telling The New York Times in 1978 that he wanted to ""to develop pride in the players as Yankees.', '""Since then, all players have abided by the policy, though not without some resistance.', 'Famously, Yankees captain Don Mattingly was benched in 1991 for refusing to get a haircut, an incident mocked on a 1992 episode of ""The Simpsons.""', 'Former Yankee Andrew McCutchen said in 2020 that it would have been difficult for him to join the team when he still had dreadlocks, which he wore during the early years of his career with the Pittsburgh Pirates, and called on the franchise to change the rule.', 'The tradition has also turned some prospective Yankees away.', 'General manager Brian Cashman said in 2013 that he ruled out trading for relief pitcher Brian Wilson because Wilson refused to shave his beard.', 'Pitcher David Price said in 2013 that he did not want to play for the Yankees due to the policy.', 'Many past and present players got rid of their beards when they joined the Yankees from another team, including Gerrit Cole, Johnny Damon and current offseason acquisitions Paul Goldschmidt and Cody Bellinger.']",-0.0602555153607416,It is the appropriate time to move beyond the familiar comfort of our former policy.,"Famously, Yankees captain Don Mattingly was benched in 1991 for refusing to get a haircut, an incident mocked on a 1992 episode of ""The Simpsons.""",-0.7671583145856857,,The tradition has also turned some prospective Yankees away.,2025-02-24
"IMAX CEO expects $1.2 billion in box office receipts this year, the best in the company's history",https://www.cnbc.com/2025/02/21/imax-ceo-2025-box-office-receipt-expectations.html,2025-02-21T16:42:31+0000,"In this articleAn ""embarrassment of riches"" at the box office could fuel a $1.2 billion year for IMAX, CEO Rich Gelfond told CNBC on Friday.That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.""I think it's going to be a very strong year,"" Gelfond said in an interview with CNBC's ""Squawk on the Street."" ""The first thing that drives that is the slate.""Gelfond pointed to several blockbuster titles slated for release in the next 10 months, including a new ""Mission Impossible,"" a live-action ""How to Train Your Dragon"" film, another ""Jurassic Park"" installment, a sequel to ""Zootopia"" and a third ""Avatar"" release.Hollywood production issues led to fewer theatrical releases and smaller ticket sales in 2024, with box office receipts down 3.4% from 2023 to $8.74 billion. Already, the 2025 slate appears more robust, with more titles and bigger franchise films.Aiding IMAX's lofty box office goals is the Chinese title ""Ne Zha 2,"" which has already garnered $1.6 billion globally. It is the first film to have topped $1 billion in a single country. Gelfond noted that IMAX accounted for $135 million of the film's total box office.""We've done more box office in China in the first six weeks of this year than we did the whole year last year,"" he said.He added that ""Ne Zha 2"" is doing ""like $100 million a day,"" and that IMAX has accounted for around 13% of the film's box office receipts.Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal is the distributor of ""How to Train Your Dragon"" and ""Jurassic World Rebirth.""",CNBC,21/02/2025,"['In this articleAn ""embarrassment of riches"" at the box office could fuel a $1.2 billion year for IMAX, CEO Rich Gelfond told CNBC on Friday.', 'That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.', '""I think it\'s going to be a very strong year,"" Gelfond said in an interview with CNBC\'s ""Squawk on the Street."" ""', 'The first thing that drives that is the slate.', '""Gelfond pointed to several blockbuster titles slated for release in the next 10 months, including a new ""Mission Impossible,"" a live-action ""How to Train Your Dragon"" film, another ""Jurassic Park"" installment, a sequel to ""Zootopia"" and a third ""Avatar"" release.', 'Hollywood production issues led to fewer theatrical releases andsmaller ticket sales in 2024,with box office receipts down 3.4% from 2023 to $8.74 billion.', 'Already, the 2025 slate appears more robust, with more titles and bigger franchise films.', 'Aiding IMAX\'s lofty box office goals is the Chinese title ""Ne Zha 2,"" which has already garnered $1.6 billion globally.', 'It is the first film to have topped $1 billion in a single country.', ""Gelfond noted that IMAX accounted for $135 million of the film's total box office."", '""We\'ve done more box office in China in the first six weeks of this year than we did the whole year last year,"" he said.', 'He added that ""Ne Zha 2"" is doing ""like $100 million a day,"" and that IMAX has accounted for around 13% of the film\'s box office receipts.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.', 'NBCUniversal is the distributor of ""How to Train Your Dragon"" and ""Jurassic World Rebirth.""']",0.2270888195132322,"That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.",,0.4861024692654609,"That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.","Hollywood production issues led to fewer theatrical releases andsmaller ticket sales in 2024,with box office receipts down 3.4% from 2023 to $8.74 billion.",2025-02-24
Southwest Airlines to slash 15% of corporate jobs in 'unprecedented' move to cut costs,https://www.cnbc.com/2025/02/17/southwest-airlines-to-cut-15percent-of-corporate-jobs-in-cost-saving-push.html,2025-02-17T22:44:09+0000,"In this articleSouthwest Airlines said Monday that it is cutting about 15% of corporate jobs, or about 1,750 people, a move its CEO called ""unprecedented"" as the company scrambles to cut costs.The company said it expects savings from the cuts of $210 million this year and about $300 million in 2026. The layoffs will be mostly done by the end of the second quarter and include some senior leadership roles, CEO Bob Jordan said in a staff note, which was seen by CNBC.""This decision is unprecedented in our 53-year history, and change requires that we make difficult decisions,"" Jordan said in a news release. ""We are at a pivotal moment as we transform Southwest Airlines into a leaner, faster, and more agile organization.""Southwest's decision to slash jobs comes several months after a settlement with activist investor Elliott Investment Management, which won five Southwest board seats, short of control. The firm had also pushed for Jordan to be replaced as CEO, though it was not successful.Other recent cost-cutting measures at Southwest included a hiring freeze, a pause to the internship program and an end to team-building ""rallies,"" a company tradition that dated back to 1985, CNBC previously reported. It has also aggressively cut unprofitable routes.Last year, Southwest outlined a plan to increase profits that included ditching its more than 50-year-old open seating model in favor of assigned seats and creating a section with extra legroom. It also recently launched overnight flights for the first time.""We must ensure we fund the right work, reduce duplicative efforts, and have a lean organizational structure that drives clarity, pace, and urgency,"" Jordan said in his memo on Monday.The layoffs take effect in late April, Jordan said, adding that most affected employees will not work but will still receive salary, benefits and bonus until then.",CNBC,17/02/2025,"['In this articleSouthwest Airlines said Monday that it is cutting about 15% of corporate jobs, or about 1,750 people, a move its CEO called ""unprecedented"" as the company scrambles to cut costs.', 'The company said it expects savings from the cuts of $210 million this year and about $300 million in 2026.', 'The layoffs will be mostly done by the end of the second quarter and include some senior leadership roles, CEO Bob Jordan said in a staff note, which was seen by CNBC.""This decision is unprecedented in our 53-year history, and change requires that we make difficult decisions,"" Jordan said in a news release. ""', 'We are at a pivotal moment as we transform Southwest Airlines into a leaner, faster, and more agile organization.', '""Southwest\'s decision to slash jobs comes several months after a settlement with activist investor Elliott Investment Management, which won five Southwest board seats, short of control.', 'The firm had also pushed for Jordan to be replaced as CEO, though it was not successful.', 'Other recent cost-cutting measures at Southwest included a hiring freeze, a pause to the internship program and an end to team-building ""rallies,"" a company tradition that dated back to 1985, CNBC previously reported.', 'It has also aggressively cut unprofitable routes.', 'Last year, Southwest outlined aplan to increase profitsthat included ditching its more than 50-year-old open seating model in favor of assigned seats and creating a section with extra legroom.', 'It also recently launched overnight flights for the first time.', '""We must ensure we fund the right work, reduce duplicative efforts, and have a lean organizational structure that drives clarity, pace, and urgency,"" Jordan said in his memo on Monday.', 'The layoffs take effect in late April, Jordan said, adding that most affected employees will not work but will still receive salary, benefits and bonus until then.']",0.0505184562607979,"The layoffs take effect in late April, Jordan said, adding that most affected employees will not work but will still receive salary, benefits and bonus until then.",It has also aggressively cut unprofitable routes.,0.0021583884954452,The company said it expects savings from the cuts of $210 million this year and about $300 million in 2026.,It has also aggressively cut unprofitable routes.,2025-02-24
"Trump is 'not happy' with Boeing over Air Force One delays, but airlines are growing upbeat",https://www.cnbc.com/2025/02/20/trump-boeing-air-force-one-delays.html,2025-02-20T18:12:17+0000,"In this articlePresident Donald Trump expressed frustration in recent days about the long wait for a pair of Boeing 747s that will serve as the new Air Force One planes.The jets are years behind schedule. Trump negotiated the $4 billion contract for the aircraft during his first term, and it isn't clear whether they'll be ready during his current one. Cost overruns have totaled more than $2 billion to date.Trump advisor Elon Musk is working with Boeing in hopes of delivering the aircraft faster, the manufacturer's chief executive, Kelly Ortberg, reiterated on Thursday.""The president's clearly not happy with the delivery timing. I think he's made that well known,"" Ortberg said at a Barclays industrials conference. ""Elon Musk is actually helping us a lot in working through the requirements ... to help us get the things that are non-value-added constraints out of the way so that we can move faster and get the president those airplanes delivered.""Ortberg called Musk, CEO of SpaceX, which competes with Boeing's defense and space unit, a ""brilliant guy"" who can ""pretty quickly ascertain the difference between technical requirement and things that we can move out of the way.""Aboard one of the current presidential 747s, Trump told reporters on Wednesday that he is considering alternatives.""We may buy a plane or get a plane, or something,"" he said, according to Reuters. Trump toured a 747 that was parked at Florida's Palm Beach International Airport over the weekend, the outlet reported.The White House didn't immediately respond to a request for comment.Frustration is nothing new for Boeing's airline customers who faced long delays for aircraft just as the post-pandemic travel boom was taking hold. A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.Now some customers are growing more upbeat. Executives told CNBC that it appears the manufacturer has turned a corner under Ortberg, who took the helm in August.""Boeing is doing a pretty miraculous job of turning around and becoming more reliable as a supplier,"" United Airlines CFO Mike Leskinen said Wednesday at the same Barclays conference. ""Our confidence that our MAX aircraft are going to be delivered on schedule has never been greater at my tenure at United Airlines.""Bob Jordan, CEO of all-Boeing 737 carrier Southwest Airlines, said on a Jan. 30 earnings call: ""While they still have much work to do, they appear to be on a good path, and we are feeling more optimistic.""Speaking at the Barclays conference on Thursday, Boeing's Ortberg said he doesn't see any supply chain problems that would prevent the manufacturer from ramping up production of its cash-cow 737 Max planes, its bestseller, to 38 per month in the coming months.",CNBC,20/02/2025,"['In this articlePresident Donald Trump expressed frustration in recent days about the long wait for a pair of Boeing 747s that will serve as the new Air Force One planes.', 'The jets are years behind schedule.', ""Trump negotiated the $4 billion contract for the aircraft during his first term, and it isn't clear whether they'll be ready during his current one."", 'Cost overruns have totaled more than $2 billion to date.', ""Trump advisor Elon Musk is working with Boeing in hopes of delivering the aircraft faster, the manufacturer's chief executive, Kelly Ortberg, reiterated on Thursday."", '""The president\'s clearly not happy with the delivery timing.', 'I think he\'s made that well known,"" Ortberg said at a Barclays industrials conference. ""', 'Elon Musk is actually helping us a lot in working through the requirements ... to help us get the things that are non-value-added constraints out of the way so that we can move faster and get the president those airplanes delivered.', '""Ortberg called Musk, CEO of SpaceX, which competes with Boeing\'s defense and space unit, a ""brilliant guy"" who can ""pretty quickly ascertain the difference between technical requirement and things that we can move out of the way.', '""Aboard one of the current presidential 747s, Trump told reporters on Wednesday that he is considering alternatives.', '""We may buy a plane or get a plane, or something,"" he said, according to Reuters.', ""Trump toured a 747 that was parked at Florida's Palm Beach International Airport over the weekend, the outlet reported."", ""The White House didn't immediately respond to a request for comment."", ""Frustration is nothing new for Boeing's airline customers who faced long delays for aircraft just as the post-pandemic travel boom was taking hold."", 'A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.', 'Now some customers are growing more upbeat.', 'Executives told CNBC that it appears the manufacturer has turned a corner under Ortberg, who took the helm in August.', '""Boeing is doing a pretty miraculous job of turning around and becoming more reliable as a supplier,"" United Airlines CFO Mike Leskinen said Wednesday at the same Barclays conference. ""', 'Our confidence that our MAX aircraft are going to be delivered on schedule has never been greater at my tenure at United Airlines.', '""Bob Jordan, CEO of all-Boeing 737 carrier Southwest Airlines, said on a Jan. 30 earnings call: ""While they still have much work to do, they appear to be on a good path, and we are feeling more optimistic.', '""Speaking at the Barclays conference on Thursday, Boeing\'s Ortberg said he doesn\'t see any supply chain problems that would prevent the manufacturer from ramping up production of its cash-cow 737 Max planes, its bestseller, to 38 per month in the coming months.']",0.1535934301979182,"""Ortberg called Musk, CEO of SpaceX, which competes with Boeing's defense and space unit, a ""brilliant guy"" who can ""pretty quickly ascertain the difference between technical requirement and things that we can move out of the way.",A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.,0.0731367606383103,"""Boeing is doing a pretty miraculous job of turning around and becoming more reliable as a supplier,"" United Airlines CFO Mike Leskinen said Wednesday at the same Barclays conference. """,A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.,2025-02-24
"Government travel has 'fallen off' since Trump inauguration, United Airlines says",https://www.cnbc.com/2025/02/19/united-says-government-travel-falls-amid-trump-musk-firings.html,2025-02-19T20:19:12+0000,"In this articleUnited Airlines says travel demand has been resilient lately — except from the U.S. government.Government travel ""has fallen off here post-inauguration,"" United's Chief Financial Officer Mike Leskinen said at a Barclays industry conference on Wednesday, referring to the start of President Donald Trump's term last month.Trump and his advisor, billionaire Elon Musk, have vowed to cut costs in the government, and thousands of government workers have either been laid off or offered buyouts. Jobless claims have surged in Washington, D.C.The government travel segment is about 2% of United's revenue, a United spokeswoman said. The airline brought in nearly $52 billion in passenger revenue last year. Leskinen said other demand is helping to make up for the shortfall.Strong international leisure travel demand continues to outshine domestic demand, Leskinen added.",CNBC,19/02/2025,"['In this articleUnited Airlines says travel demand has been resilient lately — except from the U.S. government.', 'Government travel ""has fallen off here post-inauguration,"" United\'s Chief Financial Officer Mike Leskinen said at a Barclays industry conference on Wednesday, referring to the start of President Donald Trump\'s term last month.', 'Trump and his advisor, billionaire Elon Musk, have vowed to cut costs in the government, and thousands of government workers have either been laid off or offered buyouts.', ""Jobless claims have surged in Washington, D.C.The government travel segment is about 2% of United's revenue, a United spokeswoman said."", 'The airline brought in nearly $52 billion in passenger revenue last year.', 'Leskinen said other demand is helping to make up for the shortfall.', 'Strong international leisure travel demand continues to outshine domestic demand, Leskinen added.']",0.1218385210657379,"Jobless claims have surged in Washington, D.C.The government travel segment is about 2% of United's revenue, a United spokeswoman said.","Trump and his advisor, billionaire Elon Musk, have vowed to cut costs in the government, and thousands of government workers have either been laid off or offered buyouts.",0.4203916192054748,"Strong international leisure travel demand continues to outshine domestic demand, Leskinen added.","Government travel ""has fallen off here post-inauguration,"" United's Chief Financial Officer Mike Leskinen said at a Barclays industry conference on Wednesday, referring to the start of President Donald Trump's term last month.",2025-02-24
"Delta plane crashes on landing at Toronto airport, all 80 aboard survive",https://www.cnbc.com/2025/02/17/delta-flight-incident-toronto-airport.html,2025-02-18T17:41:40+0000,"In this articleA Delta Air Lines regional jet crashed upon landing Monday afternoon at Toronto Pearson International Airport and flipped over. All 80 people on board survived, officials said.The 76 passengers and four crew members were evacuated from the plane, a CRJ-900 regional jet, after the accident, which occurred around 2:15 p.m. ET, Delta said. Two people were airlifted in critical condition, according to Peel Regional Paramedic Services. Delta said Tuesday morning that 19 of 21 passengers who were taken to local hospitals had been released.Video on social media appeared to show the aircraft hitting the runway, before fire and smoke emerged and the airplane flipped over.Delta Flight 4819, operated by the carrier's regional subsidiary Endeavor Air, originated in Delta's hub of Minneapolis–Saint Paul International Airport.Flights to the Toronto airport were temporarily halted but resumed as of 5 p.m. ET on Monday. Delta canceled the rest of its flights to and from Toronto on Monday and issued travel waivers to affected passengers.""Our most pressing priority remains taking care of all customers and Endeavor crew members who were involved,"" Delta CEO Ed Bastian said in a statement. ""We are grateful for all the first responders and medical teams who have been caring for them.""The Toronto airport said it had been expecting a busy day after heavy snowfall in the area, and an expected 130,000 travelers on board around 1,000 flights.It wasn't immediately clear what caused the crash. Weather reports showed winds of between 20 mph and 30 mph Monday, with gusts of up to 40 mph.The Transportation Safety Board of Canada will lead the crash investigation. The National Transportation Safety Board said a team of U.S. investigators will participate in the probe. U.S. Transportation Secretary Sean Duffy said on social media platform X that FAA investigators were en route to Toronto and that he was working with his Canadian counterparts to assist in the investigation.Delta said it sent a team to the Toronto airport Monday evening, including specially trained employees to help customers, employees and Endeavor Air leaders to support the investigation.""Events like these remind us why our entire industry is united on the importance of safety — it's the one area where we never compete,"" Bastian said in a note to staff.The accident comes weeks after a fatal midair collision in January at Reagan International Airport in Washington, D.C., that killed all 64 people on an American Airlines regional jet and three people on board an Army Black Hawk helicopter.Separately, the FAA was recently hit by layoffs spearheaded by President Donald Trump and Elon Musk's advisory group known as the Department of Government Efficiency, with several hundred air traffic controllers receiving firing notices over the weekend.A U.S. Department of Transportation spokesperson told NBC News the FAA ""continues to hire and onboard"" air traffic controllers and that the agency has ""retained employees"" who perform critical safety functions.",CNBC,18/02/2025,"['In this articleA Delta Air Lines regional jet crashed upon landing Monday afternoon at Toronto Pearson International Airport and flipped over.', 'All 80 people on board survived, officials said.', 'The 76 passengers and four crew members were evacuated from the plane, a CRJ-900 regional jet, after the accident, which occurred around 2:15 p.m. ET, Delta said.', 'Two people were airlifted in critical condition, according to Peel Regional Paramedic Services.', 'Delta said Tuesday morning that 19 of 21 passengers who were taken to local hospitals had been released.', 'Video on social media appeared to show the aircraft hitting the runway, before fire and smoke emerged and the airplane flipped over.', ""Delta Flight 4819, operated by the carrier's regional subsidiary Endeavor Air, originated in Delta's hub of Minneapolis–Saint Paul International Airport."", 'Flights to the Toronto airport were temporarily halted but resumed as of 5 p.m. ET on Monday.', 'Delta canceled the rest of its flights to and from Toronto on Monday and issued travel waivers to affected passengers.', '""Our most pressing priority remains taking care of all customers and Endeavor crew members who were involved,"" Delta CEO Ed Bastian said in a statement. ""', 'We are grateful for all the first responders and medical teams who have been caring for them.', '""The Toronto airport said it had been expecting a busy day after heavy snowfall in the area, and an expected 130,000 travelers on board around 1,000 flights.', ""It wasn't immediately clear what caused the crash."", 'Weather reports showed winds of between 20 mph and 30 mph Monday, with gusts of up to 40 mph.', 'The Transportation Safety Board of Canada will lead the crash investigation.', 'The National Transportation Safety Board said a team of U.S. investigators will participate in the probe.', 'U.S. Transportation Secretary Sean Duffy said on social media platform X that FAA investigators were en route to Toronto and that he was working with his Canadian counterparts to assist in the investigation.', 'Delta said it sent a team to the Toronto airport Monday evening, including specially trained employees to help customers, employees and Endeavor Air leaders to support the investigation.', '""Events like these remind us why our entire industry is united on the importance of safety — it\'s the one area where we never compete,"" Bastian said in a note to staff.', 'The accident comes weeks after a fatal midair collision in January at Reagan International Airport in Washington, D.C., that killed all 64 people on an American Airlines regional jet and three people on board an Army Black Hawk helicopter.', ""Separately, the FAA was recently hit by layoffs spearheaded by President Donald Trump and Elon Musk's advisory group known as the Department of Government Efficiency, with several hundred air traffic controllers receiving firing notices over the weekend."", 'A U.S. Department of Transportation spokesperson told NBC News the FAA ""continues to hire and onboard"" air traffic controllers and that the agency has ""retained employees"" who perform critical safety functions.']",0.0748612621505347,"""Events like these remind us why our entire industry is united on the importance of safety — it's the one area where we never compete,"" Bastian said in a note to staff.","The accident comes weeks after a fatal midair collision in January at Reagan International Airport in Washington, D.C., that killed all 64 people on an American Airlines regional jet and three people on board an Army Black Hawk helicopter.",-0.8889119823773702,,"Separately, the FAA was recently hit by layoffs spearheaded by President Donald Trump and Elon Musk's advisory group known as the Department of Government Efficiency, with several hundred air traffic controllers receiving firing notices over the weekend.",2025-02-24
"UnitedHealth's rough stretch continues, with buyouts, a reported DOJ probe and a 23% drop in three months",https://www.cnbc.com/2025/02/21/unitedhealth-faces-doj-investigation-buyouts-stock-price-drop.html,2025-02-21T20:56:28+0000,"In this articleUnitedHealthcare is in hot water again as the insurance giant grapples with a reported government investigation of its Medicare billing practices, pursues employee buyouts and potential layoffs, and clashes publicly with billionaire Bill Ackman.Those developments in recent days extend a tumultuous past year for its parent company, UnitedHealth Group, marked by the killing of a top executive, a costly cyberattack against its subsidiary and high medical costs in its insurance arm. UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its more than $420 billion market cap, and UnitedHealthcare is the nation's largest private insurer. Shares of UnitedHealth Group have tumbled more than 20% over the last three months.The stock also closed 7% lower on Friday following a report about the probe, which was first reported by The Wall Street Journal. The Department of Justice has launched a civil fraud investigation in recent months into UnitedHealth's billing practices for its Medicare Advantage plans, according to the newspaper.The probe specifically examines whether diagnoses were routinely made to trigger extra payments in those plans, including at physician groups the insurer owns, the Journal said. It comes after a series of articles from the newspaper last year, which reported that Medicare paid UnitedHealth billions of dollars for questionable diagnoses. Medicare Advantage plans are offered by private insurers who are paid a set rate by the government to manage health care for seniors looking for extra benefits not covered in traditional Medicare. Those plans have been a source of high medical costs across the broader insurance industry over the last year.  In a statement, UnitedHealth called the Journal's reporting ""misinformation"" and said the company consistently performs at the industry's ""highest levels"" when it comes to government compliance reviews of Medicare Advantage plans""Any suggestion that our practices are fraudulent is outrageous and false,"" the company said.In a research note Friday, RBC Capital Markets analyst Ben Hendrix called the reported investigation an ""incremental overhang"" but emphasized it will likely be a ""lengthy process and unlikely in our view to result in material financial headwinds in the near term."" He pointed to a probe the DOJ launched last year into the company's subsidiary Optum Rx for potential antitrust violations, which will similarly have an extended timeline before any resolution. Reports about the probe came two days after CNBC first reported that UnitedHealthcare is offering buyouts to employees and could pursue layoffs if resignation quotas aren't met. The move comes as the company tries to cut costs through efforts like leveraging digital technology. And earlier this month, Ackman, one of the world's most prominent investors, publicly pledged to cover the legal fees for a Texas doctor in a dispute with UnitedHealth Group over her claims that the company pulled her out of an operation to justify a patient's care.Ackman, who is CEO of Pershing Square Capital Management, later took down a post on X that was critical of the insurer after lawyers for UnitedHealth told him that the doctor's claims that he had amplified on social media were untrue. Ackman said he has no position in UnitedHealth. One of his earlier posts on the dispute called on the U.S. Securities and Exchange Commission to investigate the company and suggested that the insurer's ""profitability is massively overstated due to its denial of medically necessary procedures.""That's similar to the public blowback the company faced after the killing of UnitedHealthcare CEO Brian Thompson in December. It unleashed a wave of pent-up anger and resentment toward the insurance industry and renewed calls for reform to prevent denials of care.UnitedHealth is also still grappling with the fallout from a cyberattack on its subsidiary Change Healthcare, which processes medical claims. The cyberattack compromised the protected health information of around 190 million people, and UnitedHealth has paid out more than $3 billion to providers affected.UnitedHealth has said it became aware of the cyberattack a year ago to the day Friday.",CNBC,21/02/2025,"['In this articleUnitedHealthcare is in hot water again as the insurance giant grapples with a reported government investigation of its Medicare billing practices, pursues employee buyouts and potential layoffs, and clashes publicly with billionaire Bill Ackman.', 'Those developments in recent days extend a tumultuous past year for its parent company, UnitedHealth Group, marked by the killing of a top executive, a costly cyberattack against its subsidiary and high medical costs in its insurance arm.', ""UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its more than $420 billion market cap, and UnitedHealthcare is the nation's largest private insurer."", 'Shares of UnitedHealth Group have tumbled more than 20% over the last three months.', 'The stock also closed 7% lower on Friday following a report about the probe, which was first reported by The Wall Street Journal.', ""The Department of Justice has launched a civil fraud investigation in recent months into UnitedHealth's billing practices for its Medicare Advantage plans, according to the newspaper."", 'The probe specifically examines whether diagnoses were routinely made to trigger extra payments in those plans, including at physician groups the insurer owns, the Journal said.', 'It comes after a series of articles from the newspaper last year, which reported that Medicare paid UnitedHealth billions of dollars for questionable diagnoses.', 'Medicare Advantage plans are offered by private insurers who are paid a set rate by the government to manage health care for seniors looking for extra benefits not covered in traditional Medicare.', 'Those plans have been a source of high medical costs across the broader insurance industry over the last year.', 'In a statement, UnitedHealth called the Journal\'s reporting ""misinformation"" and said the company consistently performs at the industry\'s ""highest levels"" when it comes to government compliance reviews of Medicare Advantage plans""Any suggestion that our practices are fraudulent is outrageous and false,"" the company said.', 'In a research note Friday, RBC Capital Markets analyst Ben Hendrix called the reported investigation an ""incremental overhang"" but emphasized it will likely be a ""lengthy process and unlikely in our view to result in material financial headwinds in the near term.""', ""He pointed to a probe the DOJ launched last year into the company's subsidiary Optum Rx for potential antitrust violations, which will similarly have an extended timeline before any resolution."", ""Reports about the probe came two days after CNBC first reported that UnitedHealthcare is offering buyouts to employees and could pursue layoffs if resignation quotas aren't met."", 'The move comes as the company tries to cut costs through efforts like leveraging digital technology.', ""And earlier this month, Ackman, one of the world's most prominent investors, publicly pledged to cover the legal fees for a Texas doctor in a dispute with UnitedHealth Group over her claims that the company pulled her out of an operation to justify a patient's care."", ""Ackman, who is CEO of Pershing Square Capital Management, later took down a post on X that was critical of the insurer after lawyers for UnitedHealth told him that the doctor's claims that he had amplified on social media were untrue."", 'Ackman said he has no position in UnitedHealth.', 'One of his earlier posts on the dispute called on the U.S. Securities and Exchange Commission to investigate the company and suggested that the insurer\'s ""profitability is massively overstated due to its denial of medically necessary procedures.', '""That\'s similar to the public blowback the company faced after the killing of UnitedHealthcare CEO Brian Thompson in December.', 'It unleashed a wave of pent-up anger and resentment toward the insurance industry and renewed calls for reform to prevent denials of care.', 'UnitedHealth is also still grappling with the fallout from a cyberattack on its subsidiary Change Healthcare, which processes medical claims.', 'The cyberattack compromised the protected health information of around 190 million people, and UnitedHealth has paid out more than $3 billion to providers affected.', 'UnitedHealth has said it became aware of the cyberattack a year ago to the day Friday.']",-0.0587352171872444,Medicare Advantage plans are offered by private insurers who are paid a set rate by the government to manage health care for seniors looking for extra benefits not covered in traditional Medicare.,"In a statement, UnitedHealth called the Journal's reporting ""misinformation"" and said the company consistently performs at the industry's ""highest levels"" when it comes to government compliance reviews of Medicare Advantage plans""Any suggestion that our practices are fraudulent is outrageous and false,"" the company said.",-0.744643170099992,The move comes as the company tries to cut costs through efforts like leveraging digital technology.,Shares of UnitedHealth Group have tumbled more than 20% over the last three months.,2025-02-24
Embattled EV maker Nikola files for Chapter 11 bankruptcy protection,https://www.cnbc.com/2025/02/19/nikola-chapter-11-bankruptcy-protection.html,2025-02-19T13:58:09+0000,"In this articleDETROIT — Nikola Corp. — an auto startup that was once a favorite of Wall Street analysts and retail investors — filed for bankruptcy protection after failing to secure a buyer or raise additional funds to maintain operations.Nikola said Wednesday that it plans to pursue an auction and sale process of its assets, pending court approval. The company said it has approximately $47 million in cash to fund its bankruptcy activities, implement the sale process and exit Chapter 11.""Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate,"" Nikola CEO Steve Girsky said in a release. ""Unfortunately, our very best efforts have not been enough to overcome these significant challenges, and the Board has determined that Chapter 11 represents the best possible path forward under the circumstances for the Company and its stakeholders.""The proposed bidding procedures, if approved by the court, would allow interested parties to submit binding offers to acquire Nikola's assets, purchased free and clear of Nikola's indebtedness and certain liabilities. The filing marks the finale of the Phoenix-based company's yearslong fall from grace. At its peak in 2020, Nikola was valued more than Ford Motor at $30 billion, signed a multibillion-dollar deal with General Motors, and was considered the pinnacle of auto startups to go public through reverse mergers and special purpose acquisition companies.The company's downfall has played out over years, ignited by scandals and lies involving its founder and former chairman and CEO, Trevor Milton. The fast-talking, energetic, disgraced executive was convicted of wire fraud and securities fraud in 2022 for misleading investors about Nikola's operations and zero-emissions technology.The controversies were first made public by short seller Hindenburg Research after the deal with GM that included the Detroit automaker taking a $2 billion stake in the startup.Nikola's core products are all-electric and fuel cell electric semitrucks, which it began producing in 2022. As of the third quarter of last year, the company had only produced 600 of the vehicles since then. Many of those vehicles have been recalled due to defects, costing the automaker tens of millions of dollars.Since moving from chairman to CEO in 2023, Girsky has kept Nikola moving forward, including its production of zero-emissions trucks, but the company's capital has been dwindling.Nikola warned investors on its third-quarter conference call that the company only had enough cash to support its business into the first quarter of 2025 but not beyond. Nikola reported $198 million in cash to end the third quarter.Girsky on the call in October said Nikola was ""actively talking to lots of potential different partners who value what we do and value what we've built.""Girsky, a former bank analyst and GM executive, took Nikola public through his SPAC in June 2020. It was a catalyst for more EV companies to go public through SPACs.Similarly to Nikola, most, if not all, have failed to live up to their initial expectations. Many were the center of federal investigations, scandals and executive upheavals.Nikola's stock has traded under $2 per share since early December. Factoring out a 1-for-30 reverse stock split last year, FactSet reports Nikola's all-time closing price was nearly $80 in June 2020.",CNBC,19/02/2025,"['In this articleDETROIT — Nikola Corp. — an auto startup that was once a favorite of Wall Street analysts and retail investors — filed for bankruptcy protection after failing to secure a buyer or raise additional funds to maintain operations.', 'Nikola said Wednesday that it plans to pursue an auction and sale process of its assets, pending court approval.', 'The company said it has approximately$47 millionin cash to fund its bankruptcy activities, implement the sale process and exit Chapter 11.""Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate,"" Nikola CEO Steve Girsky said in a release. ""', 'Unfortunately, our very best efforts have not been enough to overcome these significant challenges, and the Board has determined that Chapter 11 represents the best possible path forward under the circumstances for the Company and its stakeholders.', '""The proposed bidding procedures, if approved by the court, would allow interested parties to submit binding offers to acquire Nikola\'s assets, purchased free and clear of Nikola\'s indebtedness and certain liabilities.', ""The filing marks the finale of the Phoenix-based company's yearslong fall from grace."", 'At its peak in 2020, Nikola was valued more than Ford Motor at $30 billion, signed a multibillion-dollar deal with General Motors, and was considered the pinnacle of auto startups to go public through reverse mergers and special purpose acquisition companies.', ""The company's downfall has played out over years, ignited by scandals and lies involving its founder and former chairman and CEO, Trevor Milton."", ""The fast-talking, energetic, disgraced executive was convicted of wire fraud and securities fraud in 2022 for misleading investors about Nikola's operations and zero-emissions technology."", 'The controversies were first made public by short seller Hindenburg Research after the deal with GM that included the Detroit automaker taking a $2 billion stake in the startup.', ""Nikola's core products are all-electric and fuel cell electric semitrucks, which it began producing in 2022."", 'As of the third quarter of last year, the company had only produced 600 of the vehicles since then.', 'Many of those vehicles have been recalled due to defects, costing the automaker tens of millions of dollars.', ""Since moving from chairman to CEO in 2023, Girsky has kept Nikola moving forward, including its production of zero-emissions trucks, but the company's capital has been dwindling."", 'Nikola warned investors on its third-quarter conference call that the company only had enough cash to support its business into the first quarter of 2025 but not beyond.', 'Nikola reported $198 million in cash to end the third quarter.', 'Girsky on the callin October said Nikola was ""actively talking to lots of potential different partners who value what we do and value what we\'ve built.', '""Girsky, a former bank analyst and GM executive, took Nikola public through his SPAC in June 2020.', 'It was a catalyst for more EV companies to go public through SPACs.', 'Similarly to Nikola, most, if not all, havefailed to live up to their initial expectations.', 'Many were the center of federal investigations, scandals and executive upheavals.', ""Nikola's stock has traded under $2 per share since early December."", ""Factoring out a 1-for-30 reverse stock split last year, FactSet reports Nikola's all-time closing price was nearly $80 in June 2020.""]",0.126832205816032,"""The proposed bidding procedures, if approved by the court, would allow interested parties to submit binding offers to acquire Nikola's assets, purchased free and clear of Nikola's indebtedness and certain liabilities.","The fast-talking, energetic, disgraced executive was convicted of wire fraud and securities fraud in 2022 for misleading investors about Nikola's operations and zero-emissions technology.",-0.0459974482655525,"Unfortunately, our very best efforts have not been enough to overcome these significant challenges, and the Board has determined that Chapter 11 represents the best possible path forward under the circumstances for the Company and its stakeholders.","Since moving from chairman to CEO in 2023, Girsky has kept Nikola moving forward, including its production of zero-emissions trucks, but the company's capital has been dwindling.",2025-02-24
Hasbro says it's taking steps to offset China tariff effects,https://www.cnbc.com/2025/02/20/hasbro-has-earnings-q4-2024.html,2025-02-20T17:39:48+0000,"In this articleToy and gaming giant Hasbro took an optimistic tone Thursday on the potential effect of Chinese tariffs on its business, as executives said the company is shifting manufacturing away from China.Hasbro Chief Financial Officer Gina Goetter said on the company's fourth-quarter earnings call that the toymaker's 2025 guidance — which includes adjusted EBITDA of $1.1 billion to $1.15 billion, compared with $1.06 billion in 2024 — reflects the anticipated effect of U.S. tariffs on China, Mexico and Canada. It also reflects ""mitigating actions we plan to take, including leveraging the strength of our supply chain and potential pricing,"" the company said in a news release.Rival toymaker Mattel previously said it could increase the prices of toys such as Hot Wheels and Barbie in response to tariffs. President Donald Trump imposed 10% tariffs on China in early February and is set to add 25% tariffs on Mexico and Canada in March after pausing their initial implementation for 30 days.Hasbro is on track to cut the volume of U.S. toys and games that originate from China from 50% to less than 40% over the next two years, Goetter said. Hasbro does not source from Canada and has ""minimal"" imports from Mexico, she said.""Really, it's a China story for us,"" Goetter said.Hasbro CEO Chris Cocks said on the call that even when accounting for tariffs, the toymaker expects ""flattish"" performance from the broader industry this year, with trading cards and building blocks leading the way. The company's licensing business, he added, is one of its biggest margin drivers and will not be affected much by tariffs.""It's relatively [unexposed] to some of the tariff drama that's going on right now,"" Cocks said.Hasbro also on Thursday announced a licensing collaboration with Mattel to create Play-Doh versions of Mattel's Barbie dolls.""Play-Doh Barbie allows children to unlock their inner fashion designer, creating Play-Doh fashions with amazing ruffles, bows and realistic fabric textures, all made with every kid's favorite dough for a never-before-seen creativity experience,"" Cocks said.Shares of Hasbro gained roughly 10% in morning trading Thursday.Here's how Hasbro performed in the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Fourth-quarter revenue fell 15% from $1.29 billion during the same quarter in 2023. Full-year 2024 revenue came in at $4.14 billion, down 17% from $5 billion in 2023.The company partially attributed the numbers to its divestiture from its eOne film and TV business, which it sold to Lionsgate in December 2023. When excluding the divestiture, the company said, full-year revenue declined 7%.Hasbro's digital and licensed gaming revenue increased 35% to $132 million in the fourth quarter compared to the same period in 2023. For full-year 2024, Hasbro's digital and licensed gaming revenue increased 22% to $471.7 million. Mobile game Monopoly Go! contributed $112 million in 2024 revenue.Hasbro reported a net loss for the fourth quarter of $26.5 million, or a loss of 25 cents per share, compared with a net loss of $1.06 billion, or a loss of $7.64 per share, during the fourth quarter of 2023.Adjusting for costs associated with restructuring and the eOne divestiture, among other one-time items, Hasbro reported fourth-quarter earnings of 46 cents per share, topping Wall Street expectations.",CNBC,20/02/2025,"['In this articleToy and gaming giant Hasbro took an optimistic tone Thursday on the potential effect of Chinese tariffs on its business, as executives said the company is shifting manufacturing away from China.', ""Hasbro Chief Financial Officer Gina Goetter said on the company's fourth-quarter earnings call that the toymaker's 2025 guidance — which includes adjusted EBITDA of $1.1 billion to $1.15 billion, compared with $1.06 billion in 2024 — reflects the anticipated effect of U.S. tariffs on China, Mexico and Canada."", 'It also reflects ""mitigating actions we plan to take, including leveraging the strength of our supply chain and potential pricing,"" the company said in a news release.', 'Rival toymaker Mattel previously said it could increase the prices of toys such as Hot Wheels and Barbie in response to tariffs.', 'President Donald Trump imposed 10% tariffs on China in early February and is set to add 25% tariffs on Mexico and Canada in March after pausing their initial implementation for 30 days.', 'Hasbro is on track to cut the volume of U.S. toys and games that originate from China from 50% to less than 40% over the next two years, Goetter said.', 'Hasbro does not source from Canada and has ""minimal"" imports from Mexico, she said.', '""Really, it\'s a China story for us,"" Goetter said.', 'Hasbro CEO Chris Cocks said on the call that even when accounting for tariffs, the toymaker expects ""flattish"" performance from the broader industry this year, with trading cards and building blocks leading the way.', ""The company's licensing business, he added, is one of its biggest margin drivers and will not be affected much by tariffs."", '""It\'s relatively [unexposed] to some of the tariff drama that\'s going on right now,"" Cocks said.', ""Hasbro also on Thursday announced a licensing collaboration with Mattel to create Play-Doh versions of Mattel's Barbie dolls."", '""Play-Doh Barbie allows children to unlock their inner fashion designer, creating Play-Doh fashions with amazing ruffles, bows and realistic fabric textures, all made with every kid\'s favorite dough for a never-before-seen creativity experience,"" Cocks said.', 'Shares of Hasbro gained roughly 10% in morning trading Thursday.', ""Here's how Hasbro performed in the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Fourth-quarter revenue fell 15% from $1.29 billion during the same quarter in 2023."", 'Full-year 2024 revenue came in at $4.14 billion, down 17% from $5 billion in 2023.The company partially attributed the numbers to its divestiture from its eOne film and TV business, which it sold to Lionsgate in December 2023.', ""When excluding the divestiture, the company said, full-year revenue declined 7%.Hasbro's digital and licensed gaming revenue increased 35% to $132 million in the fourth quarter compared to the same period in 2023."", ""For full-year 2024, Hasbro's digital and licensed gaming revenue increased 22% to $471.7 million."", 'Mobile game Monopoly Go!', 'contributed $112 million in 2024 revenue.', 'Hasbro reported a net loss for the fourth quarter of $26.5 million, or a loss of 25 cents per share, compared with a net loss of $1.06 billion, or a loss of $7.64 per share, during the fourth quarter of 2023.Adjusting for costs associated with restructuring and the eOne divestiture, among other one-time items, Hasbro reported fourth-quarter earnings of 46 cents per share, topping Wall Street expectations.']",0.1379706357423414,"""Play-Doh Barbie allows children to unlock their inner fashion designer, creating Play-Doh fashions with amazing ruffles, bows and realistic fabric textures, all made with every kid's favorite dough for a never-before-seen creativity experience,"" Cocks said.","Hasbro reported a net loss for the fourth quarter of $26.5 million, or a loss of 25 cents per share, compared with a net loss of $1.06 billion, or a loss of $7.64 per share, during the fourth quarter of 2023.Adjusting for costs associated with restructuring and the eOne divestiture, among other one-time items, Hasbro reported fourth-quarter earnings of 46 cents per share, topping Wall Street expectations.",0.3427503475776085,"For full-year 2024, Hasbro's digital and licensed gaming revenue increased 22% to $471.7 million.","Here's how Hasbro performed in the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Fourth-quarter revenue fell 15% from $1.29 billion during the same quarter in 2023.",2025-02-24
"UnitedHealthcare is offering buyouts to employees in benefits unit, could pursue layoffs, sources say",https://www.cnbc.com/2025/02/19/unitedhealthcare-offers-buyouts-could-pursue-layoffs.html,2025-02-19T21:52:39+0000,"In this articleUnitedHealthcare is offering certain employees in its benefits operations unit the option to accept buyouts if they quit by March 3, following a tumultuous year for the insurance giant, CNBC has learned.Those who don't accept the offer will continue in either their current role or a comparable position, two people familiar with the matter told CNBC. If the company does not meet a resignation quota through buyouts, it will lay off employees, the people said, citing an internal resource site. The company declined to share how many employees received buyout offers under the so-called Voluntary Resignation Separation Program. The benefits operations unit oversees multiple subdivisions that help manage customer service, claims, enrollment, customers' insurance benefits and more, one person said.  UnitedHealthcare, the insurance arm of UnitedHealth Group, is the largest private health insurer in the U.S. UnitedHealth Group had more than 440,000 employees as of December 2023, but it does not disclose how many people work in its benefits segment or overall insurance business.UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its roughly $460 billion market cap, but it has tried to cut costs as medical expenses increase for Medicare Advantage beneficiaries and it deals with the fallout from the costly cyberattack against its subsidiary Change Healthcare. It has also faced renewed anger over high health-care costs in the U.S., following the killing of its insurance unit CEO Brian Thompson in December.Employees eligible for the buyouts include full-time or part-time U.S. workers assigned to four internal segments under benefits operations, including corporate, consumer operations, core services and provider services, according to an internal memo sent Monday and viewed by CNBC.""This voluntary option is part of our ongoing efforts to ensure our team is best positioned to meet the evolving needs of the people and customers we are honored to serve,"" a UnitedHealth spokesperson told CNBC in a statement. ""We continue to grow our workforce with more than 3,200 positions currently available on UnitedHealth Group's careers site.""The company expects employees' termination date to be no sooner than May 1, according to the memo. The memo said some employees who accept buyouts may need to work beyond that date, but the company does not expect to require them to work past Nov. 13. Their severance packages will depend on the number of years they have spent at the company and their salary grade, and will kick in on their termination date, the memo said. The benefits provided to employees included in any potential future layoffs may not be ""as favorable"" as those offered to workers under the buyout program, according to the memo. Workers who received the buyout offers are in shock, said the people familiar with the matter, especially after UnitedHealth Group reported its highest-ever annual revenue in 2024. The company said in its January earnings release that it generated $400.3 billion in revenue in 2024, up 8% year over year.UnitedHealth executives said during the company's fourth-quarter call in January that ""digital adoption"" helped the company lower costs. CEO Andrew Witty called it a ""modernization agenda"" which includes but isn't limited to artificial intelligence.He added that UnitedHealth is ""just kind of scratching the surface of the opportunity."" Workers were informed about the buyouts Monday during a meeting that lasted around 10 minutes and were told they will have the opportunity to ask questions in information sessions in the coming days, the people said. The buyouts follow the shooting of Thompson, which unleashed a torrent of pent-up anger and resentment toward the insurance industry and renewed calls for reform. That came only months after Change Healthcare, which processes medical claims, was hit by a cyberattack in February 2024 that compromised the protected health information of around 190 million people. UnitedHealth Group has paid out more than $3 billion to providers affected by the cyberattack. UnitedHealth Group also laid off workers in its Optum health services division last year. Shares of the company closed up 2% on Wednesday.",CNBC,19/02/2025,"['In this articleUnitedHealthcare is offering certain employees in its benefits operations unit the option to accept buyouts if they quit by March 3, following a tumultuous year for the insurance giant, CNBC has learned.', ""Those who don't accept the offer will continue in either their current role or a comparable position, two people familiar with the matter told CNBC."", 'If the company does not meet a resignation quota through buyouts, it will lay off employees, the people said, citing an internal resource site.', 'The company declined to share how many employees received buyout offers under the so-called Voluntary Resignation Separation Program.', ""The benefits operations unit oversees multiple subdivisions that help manage customer service, claims, enrollment, customers' insurance benefits and more, one person said."", 'UnitedHealthcare, the insurance arm of UnitedHealth Group, is the largest private health insurer in the U.S. UnitedHealth Group had more than 440,000 employees as of December 2023, but it does not disclose how many people work in its benefits segment or overall insurance business.', 'UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its roughly $460 billion market cap, but it has tried to cut costs as medical expenses increase for Medicare Advantage beneficiaries and it deals with the fallout from the costly cyberattack against its subsidiary Change Healthcare.', 'It has also faced renewed anger over high health-care costs in the U.S., following the killing of its insurance unit CEO Brian Thompson in December.', 'Employees eligible for the buyouts include full-time or part-time U.S. workers assigned to four internal segments under benefits operations, including corporate, consumer operations, core services and provider services, according to an internal memo sent Monday and viewed by CNBC.""This voluntary option is part of our ongoing efforts to ensure our team is best positioned to meet the evolving needs of the people and customers we are honored to serve,"" a UnitedHealth spokesperson told CNBC in a statement. ""', ""We continue to grow our workforce with more than 3,200 positions currently available on UnitedHealth Group's careers site."", '""The company expects employees\' termination date to be no sooner than May 1, according to the memo.', 'The memo said some employees who accept buyouts may need to work beyond that date, but the company does not expect to require them to work past Nov. 13.Their severance packages will depend on the number of years they have spent at the company and their salary grade, and will kick in on their termination date, the memo said.', 'The benefits provided to employees included in any potential future layoffs may not be ""as favorable"" as those offered to workers under the buyout program, according to the memo.', 'Workers who received the buyout offers are in shock, said the people familiar with the matter, especially after UnitedHealth Group reported its highest-ever annual revenue in 2024.', 'The company said in its January earnings release that it generated $400.3 billion in revenue in 2024, up 8% year over year.', 'UnitedHealth executives said during the company\'s fourth-quarter call in January that ""digital adoption"" helped the company lower costs.', 'CEO Andrew Witty called it a ""modernization agenda"" which includes but isn\'t limited to artificial intelligence.', 'He added that UnitedHealth is ""just kind of scratching the surface of the opportunity.', '""Workers were informed about the buyouts Monday during a meeting that lasted around 10 minutes and were told they will have the opportunity to ask questions in information sessions in the coming days, the people said.', 'The buyouts follow the shooting of Thompson, which unleashed a torrent of pent-up anger and resentment toward the insurance industry and renewed calls for reform.', 'That came only months after Change Healthcare, which processes medical claims, was hit by a cyberattack in February 2024 that compromised the protected health information of around 190 million people.', 'UnitedHealth Group has paid out more than $3 billion to providers affected by the cyberattack.', 'UnitedHealth Group also laid off workers in its Optum health services division last year.', 'Shares of the company closed up 2% on Wednesday.']",0.2134847735261157,"Employees eligible for the buyouts include full-time or part-time U.S. workers assigned to four internal segments under benefits operations, including corporate, consumer operations, core services and provider services, according to an internal memo sent Monday and viewed by CNBC.""This voluntary option is part of our ongoing efforts to ensure our team is best positioned to meet the evolving needs of the people and customers we are honored to serve,"" a UnitedHealth spokesperson told CNBC in a statement. ""","The buyouts follow the shooting of Thompson, which unleashed a torrent of pent-up anger and resentment toward the insurance industry and renewed calls for reform.",0.1756050537029902,"The company said in its January earnings release that it generated $400.3 billion in revenue in 2024, up 8% year over year.","It has also faced renewed anger over high health-care costs in the U.S., following the killing of its insurance unit CEO Brian Thompson in December.",2025-02-24
"Starbucks to lay off 1,100 corporate workers as sales sag",https://www.cnbc.com/2025/02/24/starbucks-to-lay-off-1100-corporate-workers.html,2025-02-24T14:35:45+0000,"In this articleStarbucks will lay off 1,100 corporate employees and will not fill several hundred other open positions, the coffee chain's CEO, Brian Niccol, said Monday.The cuts will not affect workers at the company's cafes.In a message to corporate employees, Niccol said Starbucks is ""simplifying our structure, removing layers and duplication and creating smaller, more nimble teams.""""Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,"" Niccol wrote. ""All with the goal of being more focused and able to drive greater impact on our priorities."" The layoffs come as Starbucks tries to draw coffee drinkers back to its cafes after same-store sales declined for four straight quarters. As customers turn to cheaper rivals in Starbucks' two largest markets, the U.S. and China, Niccol has tried to revamp operations since he took the helm of the company last year, including by speeding up service.Starbucks had about 16,000 employees who work outside of store locations as of last year. The cuts will affect people who work in corporate support, but not roasting, manufacturing, warehousing and distribution.",CNBC,24/02/2025,"[""In this articleStarbucks will lay off 1,100 corporate employees and will not fill several hundred other open positions, the coffee chain's CEO, Brian Niccol, said Monday."", ""The cuts will not affect workers at the company's cafes."", 'In a message to corporate employees, Niccol said Starbucks is ""simplifying our structure, removing layers and duplication and creating smaller, more nimble teams.', '""""Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,"" Niccol wrote. ""', 'All with the goal of being more focused and able to drive greater impact on our priorities.', '""The layoffs come as Starbucks tries to draw coffee drinkers back to its cafes after same-store sales declined for four straight quarters.', ""As customers turn to cheaper rivals in Starbucks' two largest markets, the U.S. and China, Niccol has tried to revamp operations since he took the helm of the company last year, including by speeding up service."", 'Starbucks had about 16,000 employees who work outside of store locations as of last year.', 'The cuts will affect people who work in corporate support, but not roasting, manufacturing, warehousing and distribution.']",0.1961329182618708,"""""Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,"" Niccol wrote. """,The cuts will not affect workers at the company's cafes.,0.5956955790519715,"""""Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration,"" Niccol wrote. ""","""The layoffs come as Starbucks tries to draw coffee drinkers back to its cafes after same-store sales declined for four straight quarters.",2025-02-24
U.S. homebuilders raise alarm over tariffs as sentiment falls to 5-month low,https://www.cnbc.com/2025/02/18/homebuilder-sentiment-falls-in-february-amid-tariff-worries.html,2025-02-18T19:15:26+0000,"Sentiment among the nation's single-family homebuilders dropped to the lowest level in five months in February, largely due to concern over tariffs, which would raise their costs significantly.The National Association of Home Builders' Housing Market Index, or HMI, dropped a sharp 5 points from January to a reading of 42. Anything below 50 is considered negative sentiment. Last February, the index stood at 48.""While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations in the most recent HMI,"" said NAHB Chairman Carl Harris, a homebuilder from Wichita, Kansas.Of the index's three components, current sales conditions fell 4 points to 46, buyer traffic fell 3 points to 29 and sales expectations in the next six months plunged 13 points to 46. That last component hit its lowest level since December 2023.Builders are already facing elevated mortgage rates. The average on the 30-year fixed mortgage rate was above 7% for January and February after earlier being in the 6% range. Home prices are also higher than they were a year ago, weakening affordability further.While President Donald Trump's tariffs on Canada and Mexico, originally proposed to take effect in early February, were delayed roughly a month, builders are still expecting higher costs.""With 32% of appliances and 30% of softwood lumber coming from international trade, uncertainty over the scale and scope of tariffs has builders further concerned about costs,"" said NAHB chief economist Robert Dietz.Homebuilder sentiment had been gaining steadily since August on the expectation of lower mortgage rates and, as the builders noted, potential pro-development policies. Single-family housing starts are trending lower than they were a year ago, despite a lean supply of existing homes for sale.The drop in builder sentiment, coming right before the all-important spring market, signals potentially even less supply in the market. Several homebuilders have noted the pullback in buyer demand in recent earnings reports.""Despite Federal Reserve actions to lower short-term interest rates, mortgage interest rates remained elevated in the fourth quarter, which impacted buyer demand as homebuyers continue to face affordability challenges,"" said Ryan Marshall, CEO of PulteGroup, in its fourth-quarter earnings release.The share of builders lowering prices dropped to 26% in February, down from 30% in January and the lowest share since May 2024. Other sales incentives also fell.This may be because incentives are becoming less effective at attracting buyers, since high prices and high rates have reduced the pool of buyers for whom these benefits move the needle, according to the NAHB.When a buyer is solidly priced out, no incentive helps, and with rates remaining higher, the pool of marginal buyers may be shrinking. Offering incentives to buyers who would buy regardless of price or rates is of diminishing value for builders.",CNBC,18/02/2025,"[""Sentiment among the nation's single-family homebuilders dropped to the lowest level in five months in February, largely due to concern over tariffs, which would raise their costs significantly."", ""The National Association of Home Builders' Housing Market Index, or HMI, dropped a sharp 5 points from January to a reading of 42."", 'Anything below 50 is considered negative sentiment.', 'Last February, the index stood at 48.""While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations in the most recent HMI,"" said NAHB Chairman Carl Harris, a homebuilder from Wichita, Kansas.', ""Of the index's three components, current sales conditions fell 4 points to 46, buyer traffic fell 3 points to 29 and sales expectations in the next six months plunged 13 points to 46."", 'That last component hit its lowest level since December 2023.Builders are already facing elevated mortgage rates.', 'The average on the 30-year fixed mortgage rate was above 7% for January and February after earlier being in the 6% range.', 'Home prices are also higher than they were a year ago, weakening affordability further.', ""While President Donald Trump's tariffs on Canada and Mexico, originally proposed to take effect in early February, were delayed roughly a month, builders are still expecting higher costs."", '""With 32% of appliances and 30% of softwood lumber coming from international trade, uncertainty over the scale and scope of tariffs has builders further concerned about costs,"" said NAHB chief economist Robert Dietz.', 'Homebuilder sentiment had been gaining steadily since August on the expectation of lower mortgage rates and, as the builders noted, potential pro-development policies.', 'Single-family housing starts are trending lower than they were a year ago, despite a lean supply of existing homes for sale.', 'The drop in builder sentiment, coming right before the all-important spring market, signals potentially even less supply in the market.', 'Several homebuilders have noted the pullback in buyer demand in recent earnings reports.', '""Despite Federal Reserve actions to lower short-term interest rates, mortgage interest rates remained elevated in the fourth quarter, which impacted buyer demand as homebuyers continue to face affordability challenges,"" said Ryan Marshall, CEO of PulteGroup, in its fourth-quarter earnings release.', 'The share of builders lowering prices dropped to 26% in February, down from 30% in January and the lowest share since May 2024.', 'Other sales incentives also fell.', 'This may be because incentives are becoming less effective at attracting buyers, since high prices and high rates have reduced the pool of buyers for whom these benefits move the needle, according to the NAHB.When a buyer is solidly priced out, no incentive helps, and with rates remaining higher, the pool of marginal buyers may be shrinking.', 'Offering incentives to buyers who would buy regardless of price or rates is of diminishing value for builders.']",0.0051487963697403,"This may be because incentives are becoming less effective at attracting buyers, since high prices and high rates have reduced the pool of buyers for whom these benefits move the needle, according to the NAHB.When a buyer is solidly priced out, no incentive helps, and with rates remaining higher, the pool of marginal buyers may be shrinking.",Anything below 50 is considered negative sentiment.,-0.7755109270413717,"Homebuilder sentiment had been gaining steadily since August on the expectation of lower mortgage rates and, as the builders noted, potential pro-development policies.","The National Association of Home Builders' Housing Market Index, or HMI, dropped a sharp 5 points from January to a reading of 42.",2025-02-24
San Francisco 49ers explore 10% minority stake sale at about $9 billion valuation,https://www.cnbc.com/2025/02/19/san-francisco-49ers-explore-selling-minority-stake-sale.html,2025-02-19T20:07:39+0000,"The San Francisco 49ers may be the next National Football League franchise to sell a minority stake to private equity.The 49ers are considering a sale of up to 10% of the franchise to either a private equity firm or other investors, including wealthy individuals or families, according to a person familiar with the matter.The New York Giants are also exploring a minority stake sale, the franchise announced last week.NFL owners voted last year to allow private equity investment of up to 10% of a franchise. The Miami Dolphins and the Buffalo Bills have already struck deals with investment firms, and the Philadelphia Eagles and Las Vegas Raiders have used the increased interest from private equity to generate higher prices from other individuals and families.The 49ers are hoping to value the franchise near $9 billion, the person said. CNBC valued the organization at $7.4 billion in its most recent valuations list.Bloomberg first reported the team's interest in selling a minority stake.The NFL's 49ers are both recently and historically one of the most successful NFL franchises in terms of wins and losses. The parent company of the 49ers, 49ers Enterprises, also owns the English football club Leeds United. The York family owns the 49ers, and Jed York is the 49ers' CEO.Many teams are eager to sell minority stakes for increased liquidity for family members or for money that can be pumped back into the team for stadium repairs or future investments.Sales to private equity firms come with no voting rights. Still, firms have been willing to pay premium prices for small stakes because they come with perks, such as owner's box seating, which can be used for clients and employees.",CNBC,19/02/2025,"['The San Francisco 49ers may be the next National Football League franchise to sell a minority stake to private equity.', 'The 49ers are considering a sale of up to 10% of the franchise to either a private equity firm or other investors, including wealthy individuals or families, according to a person familiar with the matter.', 'The New York Giants are also exploring a minority stake sale, the franchise announced last week.', 'NFL owners voted last year to allow private equity investment of up to 10% of a franchise.', 'The Miami Dolphins and the Buffalo Bills have already struck deals with investment firms, and the Philadelphia Eagles and Las Vegas Raiders have used the increased interest from private equity to generate higher prices from other individuals and families.', 'The 49ers are hoping to value the franchise near $9 billion, the person said.', 'CNBC valued the organization at $7.4 billion in its most recent valuations list.', ""Bloomberg first reported the team's interest in selling a minority stake."", ""The NFL's 49ers are both recently and historically one of the most successful NFL franchises in terms of wins and losses."", 'The parent company of the 49ers, 49ers Enterprises, also owns the English football club Leeds United.', ""The York family owns the 49ers, and Jed York is the 49ers' CEO.Many teams are eager to sell minority stakes for increased liquidity for family members or for money that can be pumped back into the team for stadium repairs or future investments."", 'Sales to private equity firms come with no voting rights.', ""Still, firms have been willing to pay premium prices for small stakes because they come with perks, such as owner's box seating, which can be used for clients and employees.""]",0.3021186300740778,The NFL's 49ers are both recently and historically one of the most successful NFL franchises in terms of wins and losses.,Sales to private equity firms come with no voting rights.,0.9709718346595764,"The Miami Dolphins and the Buffalo Bills have already struck deals with investment firms, and the Philadelphia Eagles and Las Vegas Raiders have used the increased interest from private equity to generate higher prices from other individuals and families.",,2025-02-24
Home sales drop sharply as prices hit an all-time high for January,https://www.cnbc.com/2025/02/21/january-home-sales-drop-sharply-as-prices-hit-high.html,2025-02-21T16:35:31+0000,"The U.S. housing market continues to weaken, as potential buyers face stubbornly high mortgage rates, elevated prices and limited supply of listings.Sales of previously owned homes fell 4.9% in January from the prior month to 4.08 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Analysts were expecting a 2.6% decline.Sales were 2% higher than January 2024, but are still running at a roughly 15-year low.This read is based on closings, so contracts likely signed in November and December when mortgage rates came down from over 7% to the 6% range.""Mortgage rates have refused to budge for several months despite multiple rounds of short-term interest rate cuts by the Federal Reserve,"" said Lawrence Yun, chief economist for the NAR. ""When combined with elevated home prices, housing affordability remains a major challenge.""There were 1.18 million homes for sale at the end of January, an increase of 3.5% from December and 17% from January 2024. Although inventory is gaining, it is still at a 3.5-month supply at the current sales pace. A six-month supply is considered balanced between buyer and seller.The average home for sale last month spent 41 days on the market. That is the longest since January 2020, pre-Covid.Tight supply continues to pressure prices. The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January. All four regions tracked by NAR saw price gains. About 15% of homes sold above list price, virtually unchanged from 16% in both the pervious month and the year-earlier period.""More housing supply allows strongly qualified buyers to enter the market,"" Yun added. ""But for many consumers, both increased inventory and lower mortgage rates are necessary for them to purchase a different home or become first-time homeowners.""All-cash offers made up 29% of sales, which is historically high but down from 32% the year before. First-time buyers are still struggling, accounting for 28% of sales. That share is unchanged from a year ago, but is well below historical averages of about 40%.Home sales are faring significantly better at higher price points and falling at lower price points. For example, sales of homes priced between $100,000 and $250,000 dropped 1.2% year over year, while homes priced over $1 million rose nearly 27% from the year before.Realtors are reporting that buyer traffic in January was weak.""Realtors are putting more signs up, but the buyers are not coming,"" said Yun.",CNBC,21/02/2025,"['The U.S. housing market continues to weaken, as potential buyers face stubbornly high mortgage rates, elevated prices and limited supply of listings.', 'Sales of previously owned homes fell 4.9% in January from the prior month to 4.08 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.', 'Analysts were expecting a 2.6% decline.', 'Sales were 2% higher than January 2024, but are still running at a roughly 15-year low.', 'This read is based on closings, so contracts likely signed in November and December when mortgage rates came down from over 7% to the 6% range.', '""Mortgage rates have refused to budge for several months despite multiple rounds of short-term interest rate cuts by the Federal Reserve,"" said Lawrence Yun, chief economist for the NAR. ""', 'When combined with elevated home prices, housing affordability remains a major challenge.', '""There were 1.18 million homes for sale at the end of January, an increase of 3.5% from December and 17% from January 2024.', 'Although inventory is gaining, it is still at a 3.5-month supply at the current sales pace.', 'A six-month supply is considered balanced between buyer and seller.', 'The average home for sale last month spent 41 days on the market.', 'That is the longest since January 2020, pre-Covid.', 'Tight supply continues to pressure prices.', 'The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January.', 'All four regions tracked by NAR saw price gains.', 'About 15% of homes sold above list price, virtually unchanged from 16% in both the pervious month and the year-earlier period.', '""More housing supply allows strongly qualified buyers to enter the market,"" Yun added. ""', 'But for many consumers, both increased inventory and lower mortgage rates are necessary for them to purchase a different home or become first-time homeowners.', '""All-cash offers made up 29% of sales, which is historically high but down from 32% the year before.', 'First-time buyers are still struggling, accounting for 28% of sales.', 'That share is unchanged from a year ago, but is well below historical averages of about 40%.Home sales are faring significantly better at higher price points and falling at lower price points.', 'For example, sales of homes priced between $100,000 and $250,000 dropped 1.2% year over year, while homes priced over $1 million rose nearly 27% from the year before.', 'Realtors are reporting that buyer traffic in January was weak.', '""Realtors are putting more signs up, but the buyers are not coming,"" said Yun.']",-0.0161353952590391,"That share is unchanged from a year ago, but is well below historical averages of about 40%.Home sales are faring significantly better at higher price points and falling at lower price points.","The U.S. housing market continues to weaken, as potential buyers face stubbornly high mortgage rates, elevated prices and limited supply of listings.",-0.2006452977657318,"The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January.","Sales of previously owned homes fell 4.9% in January from the prior month to 4.08 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.",2025-02-24
Amazon to gain creative control of James Bond franchise from Broccoli family,https://www.cnbc.com/2025/02/20/amazon-wins-creative-control-of-james-bond-franchise-from-broccoli-family.html,2025-02-20T16:11:02+0000,"In this articleAmazon is set to take creative control over the lucrative James Bond movie franchise from the Broccoli family, the company announced Thursday.The James Bond films have long been produced by Michael Wilson and Barbara Broccoli, who inherited the control from their father Albert ""Cubby"" Broccoli. Wilson and Broccoli will now give creative control to MGM Studios, which Amazon acquired for $8.45 billion in 2021.Amazon gained distribution rights to the Bond franchise after the MGM acquisition, but not creative control.As part of the deal, Amazon's MGM Studios, Wilson and Broccoli formed a new joint venture to house the Bond intellectual property rights, and they will remain co-owners of the franchise.""We are grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G. Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide,"" said Mike Hopkins, Amazon's head of Prime Video and MGM Studios, in a statement. ""We are honored to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.""Wilson and Broccoli said in a release that they are both stepping back from producing the Bond films to focus on other projects.""Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future,"" Wilson said.In a nod to the deal, Amazon founder and Executive Chairman Jeff Bezos wrote in a post on X, ""Who'd you pick as the next Bond?""The Bond film franchise, which spans more than 60 years, is one of the highest-grossing series in history.The valuable IP stands to be a boon for Amazon's sprawling media and entertainment business, which includes the Prime Video streaming service. Prime Video is one of the key perks of Amazon Prime, the company's mainstay subscription service that costs $139 a year. As of 2021, the company said it had more than 200 million Prime subscribers worldwide.",CNBC,20/02/2025,"['In this articleAmazon is set to take creative control over the lucrative James Bond movie franchise from the Broccoli family, the company announced Thursday.', 'The James Bond films have long been produced by Michael Wilson and Barbara Broccoli, who inherited the control from their father Albert ""Cubby"" Broccoli.', 'Wilson and Broccoli will now give creative control to MGM Studios, which Amazon acquired for $8.45 billion in 2021.Amazon gained distribution rights to the Bond franchise after the MGM acquisition, but not creative control.', ""As part of the deal, Amazon's MGM Studios, Wilson and Broccoli formed a new joint venture to house the Bond intellectual property rights, and they will remain co-owners of the franchise."", '""We are grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G. Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide,"" said Mike Hopkins, Amazon\'s head of Prime Video and MGM Studios, in a statement. ""', 'We are honored to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.', '""Wilson and Broccoli said in a release that they are both stepping back from producing the Bond films to focus on other projects.', '""Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future,"" Wilson said.', 'In a nod to the deal, Amazon founder and Executive Chairman Jeff Bezos wrote in a post on X, ""Who\'d you pick as the next Bond?""The Bond film franchise, which spans more than 60 years, is one of the highest-grossing series in history.', ""The valuable IP stands to be a boon for Amazon's sprawling media and entertainment business, which includes the Prime Video streaming service."", ""Prime Video is one of the key perks of Amazon Prime, the company's mainstay subscription service that costs $139 a year."", 'As of 2021, the company said it had more than 200 million Prime subscribers worldwide.']",0.3701877652002461,"We are honored to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.",,0.951895236968994,"The valuable IP stands to be a boon for Amazon's sprawling media and entertainment business, which includes the Prime Video streaming service.",,2025-02-24
Nike teams up with Kim Kardashian shapewear brand Skims as it looks to reach more women,https://www.cnbc.com/2025/02/18/nike-teams-up-with-skims-to-launch-new-brand.html,2025-02-18T16:57:08+0000,"In this articleNike has teamed up with Kim Kardashian's intimates brand Skims to launch a new line of activewear as the legacy sneaker giant looks to win over more women and better compete with Lululemon, Alo Yoga and Vuori, the companies announced Tuesday. The new brand, dubbed NikeSKIMS, will include apparel, footwear and accessories. It will debut its initial collection this spring, with a global rollout planned for 2026. It is not clear what exactly the products will look like or what items will be included in the initial collection. The only image contained in Nike's announcement was a graphic of the new brand's logo. Nike's partnership with Skims, the buzzy shapewear brand created by Kardashian and Swedish entrepreneur Jens Grede, the brand's CEO, comes as Nike looks to claw back the market share it has lost to upstart competitors and bring more women into the brand. A new activewear line with the Skims name attached will give Nike an in with the types of shoppers who are buying activewear from Lululemon and newer competitors such as Alo Yoga and Vuori, which cater more to women than Nike currently does. Nike has said previously that about 40% of its customers are women, but most apparel brands prefer to have more female consumers than male because they tend to shop more and spend more on clothes. Plus, this gender gap has allowed Nike's competitors to get a foothold in the athletic apparel business, which could be a growth opportunity for the sneaker giant. In fiscal 2024, apparel only represented about 28% of Nike brand revenue. Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades. The campaign, called ""So Win,"" highlights female athletes such as gymnast Jordan Chiles and Women's National Basketball Association stars Caitlin Clark and Sabrina Ionescu. The spot touched on the challenges women have faced in sports and called on them to win, even though they have been told what they can't do and who they shouldn't be. The campaign made it clear that reaching female athletes and capturing the buzz currently surrounding women's sports will be a focal point of Nike's strategy under its new CEO Elliott Hill. Not only will the Skims partnership allow Nike to better compete for women, but it will also bring in a new product line at a time when the company has been accused of falling behind on innovation and churning out the same legacy styles that are no longer exciting to consumers. For Skims, which was last valued at $4 billion, the Nike partnership and access to its manufacturing and development capabilities brings a growth opportunity for a brand that is popular but still relatively small compared to competitors. Other intimates brands, such as Victoria's Secret, have tried and largely failed to branch into activewear, so Skims might be able to prove itself a winner in the space with Nike by its side. Plus, it bodes well for an initial public offering, which Skims has been considering. If Skims can show that it has more growth opportunities and a strategic partner like Nike, a public debut will be an easier sell to investors who are cautious on consumer companies amid tariff concerns, persistent inflation and a pullback on discretionary spending. Grede has said previously that the retailer deserves to be a public company, but he told WWD in December that it has not yet made a decision on an IPO.",CNBC,18/02/2025,"[""In this articleNike has teamed up with Kim Kardashian's intimates brand Skims to launch a new line of activewear as the legacy sneaker giant looks to win over more women and better compete with Lululemon, Alo Yoga and Vuori, the companies announced Tuesday."", 'The new brand, dubbed NikeSKIMS, will include apparel, footwear and accessories.', 'It will debut its initial collection this spring, with a global rollout planned for 2026.', 'It is not clear what exactly the products will look like or what items will be included in the initial collection.', ""The only image contained in Nike's announcement was a graphic of the new brand's logo."", ""Nike's partnership with Skims, the buzzy shapewear brand created by Kardashian and Swedish entrepreneur Jens Grede, the brand's CEO, comes as Nike looks to claw back the market share it has lost to upstart competitors and bring more women into the brand."", 'A new activewear line with the Skims name attached will give Nike an in with the types of shoppers who are buying activewear from Lululemon and newer competitors such as Alo Yoga and Vuori, which cater more to women than Nike currently does.', 'Nike has said previously that about 40% of its customers are women, but most apparel brands prefer to have more female consumers than male because they tend to shop more and spend more on clothes.', ""Plus, this gender gap has allowed Nike's competitors to get a foothold in the athletic apparel business, which could be a growth opportunity for the sneaker giant."", 'In fiscal 2024, apparel only represented about 28% of Nike brand revenue.', 'Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades.', 'The campaign, called ""So Win,"" highlights female athletes such as gymnast Jordan Chiles and Women\'s National Basketball Association stars Caitlin Clark and Sabrina Ionescu.', ""The spot touched on the challenges women have faced in sports and called on them to win, even though they have been told what they can't do and who they shouldn't be."", ""The campaign made it clear that reaching female athletes and capturing the buzz currently surrounding women's sports will be a focal point of Nike's strategy under its new CEO Elliott Hill."", 'Not only will the Skims partnership allow Nike to better compete for women, but it will also bring in a new product line at a time when the company has been accused of falling behind on innovation and churning out the same legacy styles that are no longer exciting to consumers.', 'For Skims, which was last valued at $4 billion, the Nike partnership and access to its manufacturing and development capabilities brings a growth opportunity for a brand that is popular but still relatively small compared to competitors.', ""Other intimates brands, such as Victoria's Secret, have tried and largely failed to branch into activewear, so Skims might be able to prove itself a winner in the space with Nike by its side."", 'Plus, it bodes well for an initial public offering, which Skims has been considering.', 'If Skims can show that it has more growth opportunities and a strategic partner like Nike, a public debut will be an easier sell to investors who are cautious on consumer companies amid tariff concerns, persistent inflation and a pullback on discretionary spending.', 'Grede has said previously that the retailer deserves to be a public company, but he told WWD in December that it has not yet made a decision on an IPO.']",0.3314994064443706,"If Skims can show that it has more growth opportunities and a strategic partner like Nike, a public debut will be an easier sell to investors who are cautious on consumer companies amid tariff concerns, persistent inflation and a pullback on discretionary spending.",,0.9979693359798856,"For Skims, which was last valued at $4 billion, the Nike partnership and access to its manufacturing and development capabilities brings a growth opportunity for a brand that is popular but still relatively small compared to competitors.",,2025-02-24
"From pills to new uses, here's what Eli Lilly’s top scientist sees as the future of weight loss drugs",https://www.cnbc.com/2025/02/20/eli-lilly-dan-skovronsky-discusses-weight-loss-drugs.html,2025-02-20T15:28:50+0000,"In this articleDan Skovronsky knows what makes a good obesity drug.As chief scientific officer at Eli Lilly, he's already done it once with the company's weekly shot, Zepbound. He's trying to do it again with a more convenient daily pill, then repeat the feat with a shot that could be even more powerful than Zepbound. And that's not counting the other nine obesity drugs Lilly's testing in clinical trials.Skovronsky said the race to create the next great drug is not just about weight loss anymore, something more investors and analysts are starting to say.Take Amgen's experimental drug MariTide: people lost up to 20% of their body weight in a phase two study and Amgen shares fell about 5% on the day the results were released in November. Why? Investors worried that it wouldn't be enough to compete with Lilly's Zepbound and Novo Nordisk's Wegovy, both of which will have a yearslong head start. Skovornsky sees improving ease of use and making more potent drugs as two paths to move the field forward. He envisions pills like Lilly's orforglipron reaching people around the world. He sees drugs that can deliver more weight loss – possibly including Lilly's own retatrutide – as another area with potential. But he's most excited to see how many other health conditions that incretin – or gut hormone – medicines can treat. Lilly's Zepbound recently was approved to treat sleep apnea. The company's also exploring whether it can treat addiction, heart disease, inflammation and gastrointestinal conditions. You can watch to the full interview for more from Skovronsky on Lilly's work in obesity and where he sees the market going.",CNBC,20/02/2025,"['In this articleDan Skovronsky knows what makes a good obesity drug.', ""As chief scientific officer at Eli Lilly, he's already done it once with the company's weekly shot, Zepbound."", ""He's trying to do it again with a more convenient daily pill, then repeat the feat with a shot that could be even more powerful than Zepbound."", ""And that's not counting the other nine obesity drugs Lilly's testing in clinical trials."", 'Skovronsky said the race to create the next great drug is not just about weight loss anymore, something more investors and analysts are starting to say.', ""Take Amgen's experimental drug MariTide: people lost up to 20% of their body weight in a phase two study and Amgen shares fell about 5% on the day the results were released in November."", 'Why?', ""Investors worried that it wouldn't be enough to compete with Lilly's Zepbound and Novo Nordisk's Wegovy, both of which will have a yearslong head start."", 'Skovornsky sees improving ease of use and making more potent drugs as two paths to move the field forward.', ""He envisions pills like Lilly's orforglipron reaching people around the world."", ""He sees drugs that can deliver more weight loss – possibly including Lilly's own retatrutide – as another area with potential."", ""But he's most excited to see how many other health conditions that incretin – or gut hormone – medicines can treat."", ""Lilly's Zepbound recently was approved to treat sleep apnea."", ""The company's also exploring whether it can treat addiction, heart disease, inflammation and gastrointestinal conditions."", ""You can watch to the full interview for more from Skovronsky on Lilly's work in obesity and where he sees the market going.""]",0.2562284589745471,But he's most excited to see how many other health conditions that incretin – or gut hormone – medicines can treat.,He sees drugs that can deliver more weight loss – possibly including Lilly's own retatrutide – as another area with potential.,-0.3311733802159627,Skovornsky sees improving ease of use and making more potent drugs as two paths to move the field forward.,Take Amgen's experimental drug MariTide: people lost up to 20% of their body weight in a phase two study and Amgen shares fell about 5% on the day the results were released in November.,2025-02-24
"Hims & Hers to offer at-home blood draws, lean into 'peptide innovations' with new acquisitions",https://www.cnbc.com/2025/02/19/hims-hers-to-offer-at-home-blood-draws-lab-testing-with-trybe-deal.html,2025-02-21T15:34:46+0000,"In this articleHims & Hers Health announced Wednesday it has acquired New Jersey-based at-home lab testing facility Trybe Labs.The deal will allow the telehealth company to offer at-home blood draws and more comprehensive pretreatment testing to its users.""Access to richer data allows us to deepen the insights that providers can use on our platform to guide their clinical decisions for each individual patient,"" said Dr. Patrick Carroll, Hims & Hers chief medical officer.""At-home lab testing is one more exciting step towards elevating the personal, comprehensive care customers in this country should expect,"" Dr. Carroll added.Hims & Hers did not disclose terms of the deal, but said it funded it through cash on hand. The company told CNBC it will share pricing for the new testing options when the offering is made available to customers over the next year.The acquisition by Hims & Hers will offer competition to blood-drawing services such as Labcorp and Quest Diagnostics.The startup is expanding its services less than one year after it started offering compounded GLP-1 weight loss drugs. As Hims & Hers casts itself as a cheaper alternative to established companies, it recently took aim at the pharmaceutical industry in a Super Bowl ad, saying the industry is ""priced for profits, not patients.""""The health care that customers expect and deserve today is on-demand care with treatments designed specifically for them,"" said Dr. Carroll.On Friday, the company separately announced it has acquired a U.S.-based peptide facility in California as part of its latest expansion of that domestic supply chain.""A lot of peptide demand is future facing innovation,"" Andrew Dudum, Hims & Hers Health CEO told CNBC Friday following that announcement. ""So many use cases have yet to be launched,"" he added.The acquisition follows previous purchases of drug manufacturing facilities in Ohio and Arizona over the last six years.While Hims did not disclosure the international exposure of its supply chain, Dudum did emphasize this deal comes at a time when the Trump administration is cracking down on the broader pharmaceutical industry's reliance on overseas production.Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community. Secretary of Health and Human Services Robert F. Kennedy Jr. has vocalized support for the treatment as alternative medicine, saying it has been under ""aggressive suppression"" by the Food and Drug Administration like other alternatives like psychedelics, stem cells and raw milk.However, the excitement surrounding peptide innovations have limited scientific evidence supporting their long-term benefits.Dudum said the acquisition will allow his company to explore areas including recovery science, preventative health and rejuvenation.""Peptide innovation is at the forefront of so many categories we're excited to start offering,"" said Dudum.Hims & Hers' acquisition of Trybe Labs will add testing capabilities for LDL cholesterol, lipoprotein(a), cholesterol and apolipoprotein, the company said. It will also expand the company's ability to offer access to care and treatments across a range of conditions including low testosterone and perimenopausal and menopausal support.Hims & Hers users will be given a blood lancet provided by home diagnostic testing company Tasso. The lancet is a single-use device that collects whole liquid blood samples and is cleared for premarket use by the FDA.Users attach the device to their upper arm and press a button that triggers the lancet to prick the skin and draw a small amount of blood collected in a microtube.Providers on the platform will use the information collected as part of determining a treatment plan for patients.Hims & Hers said it will use data from the blood work — with patient identities removed — to accelerate its development of artificial intelligence-powered health care.Clarification: This story was updated to reflect that the new testing services will aid the company's perimenopausal care.",CNBC,21/02/2025,"['In this articleHims & Hers Health announced Wednesday it has acquired New Jersey-based at-home lab testing facility Trybe Labs.', 'The deal will allow the telehealth company to offer at-home blood draws and more comprehensive pretreatment testing to its users.', '""Access to richer data allows us to deepen the insights that providers can use on our platform to guide their clinical decisions for each individual patient,"" said Dr. Patrick Carroll, Hims & Hers chief medical officer.', '""At-home lab testing is one more exciting step towards elevating the personal, comprehensive care customers in this country should expect,"" Dr. Carroll added.', 'Hims & Hers did not disclose terms of the deal, but said it funded it through cash on hand.', 'The company told CNBC it will share pricing for the new testing options when the offering is made available to customers over the next year.', 'The acquisition by Hims & Hers will offer competition to blood-drawing services such as Labcorp and Quest Diagnostics.', 'The startup is expanding its services less than one year after it started offering compounded GLP-1 weight loss drugs.', 'As Hims & Hers casts itself as a cheaper alternative to established companies, it recently took aim at the pharmaceutical industry in a Super Bowl ad, saying the industry is ""priced for profits, not patients.', '""""The health care that customers expect and deserve today is on-demand care with treatments designed specifically for them,"" said Dr. Carroll.', 'On Friday, the company separately announced it has acquired a U.S.-based peptide facility in California as part of its latest expansion of that domestic supply chain.', '""A lot of peptide demand is future facing innovation,"" Andrew Dudum, Hims & Hers Health CEO told CNBC Friday following that announcement. ""', 'So many use cases have yet to be launched,"" he added.', 'The acquisition follows previous purchases of drug manufacturing facilities in Ohio and Arizona over the last six years.', ""While Hims did not disclosure the international exposure of its supply chain, Dudum did emphasize this deal comes at a time when the Trump administration is cracking down on the broader pharmaceutical industry's reliance on overseas production."", 'Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community.', 'Secretary of Health and Human Services Robert F. Kennedy Jr. has vocalized support for the treatment as alternative medicine, saying it has been under ""aggressive suppression"" by the Food and Drug Administration like other alternatives like psychedelics, stem cells and raw milk.', 'However, the excitement surrounding peptide innovations have limited scientific evidence supporting their long-term benefits.', 'Dudum said the acquisition will allow his company to explore areas including recovery science, preventative health and rejuvenation.', '""Peptide innovation is at the forefront of so many categories we\'re excited to start offering,"" said Dudum.', ""Hims & Hers' acquisition of Trybe Labs will add testing capabilities for LDL cholesterol, lipoprotein(a), cholesterol and apolipoprotein, the company said."", ""It will also expand the company's ability to offer access to care and treatments across a range of conditions including low testosterone and perimenopausal and menopausal support."", 'Hims & Hers users will be given a blood lancet provided by home diagnostic testing company Tasso.', 'The lancet is a single-use device that collects whole liquid blood samples and is cleared for premarket use by the FDA.Users attach the device to their upper arm and press a button that triggers the lancet to prick the skin and draw a small amount of blood collected in a microtube.', 'Providers on the platform will use the information collected as part of determining a treatment plan for patients.', 'Hims & Hers saidit will use data from the blood work — with patient identities removed — to accelerate its development of artificial intelligence-powered health care.', ""Clarification: This story was updated to reflect that the new testing services will aid the company's perimenopausal care.""]",0.3473721825483231,"Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community.",The startup is expanding its services less than one year after it started offering compounded GLP-1 weight loss drugs.,0.7281141936779022,"Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community.","However, the excitement surrounding peptide innovations have limited scientific evidence supporting their long-term benefits.",2025-02-24
Carvana expects another 'strong' year after topping fourth-quarter expectations,https://www.cnbc.com/2025/02/19/carvana-cvna-earnings-q4-2024.html,2025-02-20T14:45:04+0000,"In this articleCarvana topped Wall Street's top- and bottom-line expectations for the fourth quarter while guiding for another ""strong"" year in 2025.Carvana, as it has in the past, gave a broad guidance outlook for this year that includes growth in both retail units sold and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, including sequential increases in both during the first quarter.Shares of Carvana fell more than 10% during after-hours trading Wednesday. The stock closed at $281.82, down roughly 1%. Wall Street analysts largely attributed the drop to high investor expectations and the vague forecast for 2025.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Revenue of $3.55 billion was up 46% from $2.42 billion in the prior-year period. Full-year 2024 revenue came in at $13.67 billion, up almost 27% from $10.77 billion in 2023.For 2024, the Tempe, Arizona-based company reported adjusted EBITDA of $1.38 billion and net income of roughly $404 million. That includes adjusted EBITDA of $359 million and net income of $159 million during the fourth quarter. Fourth-quarter net income marks major improvement from a loss of $200 million in the same period a year earlier.On a per-share basis, the company reported earnings of 56 cents for the December period, compared with a loss of $1 per share during the same quarter in 2023.Both the yearly and quarterly results were records for Carvana.Carvana said it sold 416,348 retail vehicles last year, up roughly 33% from the year before, for record total annual revenue of $13.67 billion in 2024. Its total gross profit per unit for the fourth quarter and full year was $6,671 and $6,908, respectively. Both metrics were up nearly $1,400 from 2023.""With just ~1% market share today and many opportunities to improve and expand our offering from here, we know this is just the beginning of our journey to change the way people buy and sell cars,"" Carvana CEO and co-founder Ernie Garcia said in a news release.Shares of Carvana are up roughly 40% in 2025, adding to last year's nearly 285% gain.",CNBC,20/02/2025,"['In this articleCarvana topped Wall Street\'s top- and bottom-line expectations for the fourth quarter while guiding for another ""strong"" year in 2025.Carvana, as it has in the past, gave a broad guidance outlook for this year that includes growth in both retail units sold and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, including sequential increases in both during the first quarter.', 'Shares of Carvana fell more than 10% during after-hours trading Wednesday.', 'The stock closed at $281.82, down roughly 1%.', ""Wall Street analysts largely attributed the drop to high investor expectations and the vague forecast for 2025.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Revenue of $3.55 billion was up 46% from $2.42 billion in the prior-year period."", 'Full-year 2024 revenue came in at $13.67 billion, up almost 27% from $10.77 billion in 2023.For 2024, the Tempe, Arizona-based company reported adjusted EBITDA of $1.38 billion and net income of roughly $404 million.', 'That includes adjusted EBITDA of $359 million and net income of $159 million during the fourth quarter.', 'Fourth-quarter net income marks major improvement from a loss of $200 million in the same period a year earlier.', 'On a per-share basis, the company reported earnings of 56 cents for the December period, compared with a loss of $1 per share during the same quarter in 2023.Both the yearly and quarterly results were records for Carvana.', 'Carvana said it sold 416,348 retail vehicles last year, up roughly 33% from the year before, for record total annual revenue of $13.67 billion in 2024.', 'Its total gross profit per unit for the fourth quarter and full year was $6,671 and $6,908, respectively.', 'Both metrics were up nearly $1,400 from 2023.""With just ~1% market share today and many opportunities to improve and expand our offering from here, we know this is just the beginning of our journey to change the way people buy and sell cars,"" Carvana CEO and co-founder Ernie Garcia said in a news release.', ""Shares of Carvana are up roughly 40% in 2025, adding to last year's nearly 285% gain.""]",0.2607568984639571,"In this articleCarvana topped Wall Street's top- and bottom-line expectations for the fourth quarter while guiding for another ""strong"" year in 2025.Carvana, as it has in the past, gave a broad guidance outlook for this year that includes growth in both retail units sold and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, including sequential increases in both during the first quarter.","Wall Street analysts largely attributed the drop to high investor expectations and the vague forecast for 2025.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Revenue of $3.55 billion was up 46% from $2.42 billion in the prior-year period.",0.6003282845020295,"Full-year 2024 revenue came in at $13.67 billion, up almost 27% from $10.77 billion in 2023.For 2024, the Tempe, Arizona-based company reported adjusted EBITDA of $1.38 billion and net income of roughly $404 million.",Shares of Carvana fell more than 10% during after-hours trading Wednesday.,2025-02-24
ESPN plans to add user-generated content to upcoming 'flagship' streaming service,https://www.cnbc.com/2025/02/20/espn-flagship-streaming-service-user-generated-content.html,2025-02-20T16:21:06+0000,"In this articleIn an attempt to court younger audiences, Disney's ESPN is planning to add some user-generated content to its yet-to-be-named flagship streaming service, which will debut later this year.While the details are still unclear, ESPN will allow subscribers to post their own content at some point in the application's evolution, according to people familiar with the matter. The technology likely won't be available at launch, which the company hopes will occur before the National Football League season begins in September. An ESPN spokesperson declined to comment.Disney executives have also considered adding user-generated content to Disney+ and discuss YouTube's influence on streaming on a near daily basis, CNBC reported last year.Alphabet's YouTube, which leans heavily on creator-led content, is the most popular streaming service with an 11.1% share of total TV usage in the U.S., according to Nielsen.ESPN executives are targeting a price of either $25 per month or $30 per month for the ESPN streaming service, which will include all of ESPN's linear programming plus other digital add-ons, the people said.The company plans to announce a name for the service, a price and a launch date in the coming months, the people said.Media and professional sports league executives are focusing on how to capture the attention of younger viewers that are opting to watch YouTube or TikTok over live games. ESPN spends tens of billions of dollars each year on the media rights for live sports.For more details on this story and others, subscribe to the CNBC Sport newsletter. This week's edition can be found here.The CNBC Sport newsletter with Alex Sherman brings you the biggest news and exclusive interviews from the worlds of sports business and media, delivered weekly to your inbox.Subscribe here to get access today.",CNBC,20/02/2025,"[""In this articleIn an attempt to court younger audiences, Disney's ESPN is planning to add some user-generated content to its yet-to-be-named flagship streaming service, which will debut later this year."", ""While the details are still unclear, ESPN will allow subscribers to post their own content at some point in the application's evolution, according to people familiar with the matter."", ""The technology likely won't be available at launch, which the company hopes will occur before the National Football League season begins in September."", 'An ESPN spokesperson declined to comment.', ""Disney executives have also considered adding user-generated content to Disney+ and discuss YouTube's influence on streaming on a near daily basis, CNBC reported last year."", ""Alphabet's YouTube, which leans heavily on creator-led content, is the most popular streaming service with an 11.1% share of total TV usage in the U.S., according to Nielsen."", ""ESPN executives are targeting a price of either $25 per month or $30 per month for the ESPN streaming service, which will include all of ESPN's linear programming plus other digital add-ons, the people said."", 'The company plans to announce a name for the service, a price and a launch date in the coming months, the people said.', 'Media and professional sports league executives are focusing on how to capture the attention of younger viewers that are opting to watch YouTube or TikTok over live games.', 'ESPN spends tens of billions of dollars each year on the media rights for live sports.', 'For more details on this story and others, subscribe to the CNBC Sport newsletter.', ""This week's edition can be found here."", 'The CNBC Sport newsletter with Alex Sherman brings you the biggest news and exclusive interviews from the worlds of sports business and media, delivered weekly to your inbox.', 'Subscribe here to get access today.']",0.0928565795323072,"Alphabet's YouTube, which leans heavily on creator-led content, is the most popular streaming service with an 11.1% share of total TV usage in the U.S., according to Nielsen.",,,,,2025-02-24
JetBlue talking to 'multiple airlines' about a new partnership,https://www.cnbc.com/2025/02/19/jetblue-talking-to-multiple-airlines-about-a-new-partnership.html,2025-02-19T17:19:01+0000,"In this articleJetBlue Airways is talking with ""multiple airlines"" about a potential new partnership after federal judges struck down two previous deals, the carrier's president said Wednesday.""If we find a deal that's accretive, we'll absolutely do it,"" JetBlue's president, Marty St. George, said at a Barclays industry conference.A federal judge in 2023 ruled the New York airline's partnership in the Northeast with American Airlines was anticompetitive, while a different judge last year blocked JetBlue's plan to acquire budget carrier Spirit Airlines, which filed for Chapter 11 bankruptcy protection last year.JetBlue representatives didn't immediately respond to a request for comment.JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.St. George said a potential tie-up would benefit the company's loyalty program, noting that customers say the frequent flyer points on JetBlue are not as strong as those of the big three U.S. carriers.""Given that we really don't have full global earn and burn, I think to be able to add that to our network would be very, very helpful,"" he said.",CNBC,19/02/2025,"['In this articleJetBlue Airways is talking with ""multiple airlines"" about a potential new partnership after federal judges struck down two previous deals, the carrier\'s president said Wednesday.', '""Ifwefindadealthat\'saccretive,we\'llabsolutelydoit,"" JetBlue\'s president, Marty St. George, said at a Barclays industry conference.', ""A federal judge in 2023 ruled the New York airline's partnership in the Northeast with American Airlines was anticompetitive, while a different judge last year blocked JetBlue's plan to acquire budget carrier Spirit Airlines, which filed for Chapter 11 bankruptcy protection last year."", ""JetBlue representatives didn't immediately respond to a request for comment."", 'JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.', ""St. George said a potential tie-up would benefit the company's loyalty program, noting that customers say the frequent flyer points on JetBlue are not as strong as those of the big three U.S. carriers."", '""Giventhatwereallydon\'thavefullglobalearnandburn,Ithinkto be able to add that to our network would be very, very helpful,"" he said.']",0.2241784982131064,"JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.","In this articleJetBlue Airways is talking with ""multiple airlines"" about a potential new partnership after federal judges struck down two previous deals, the carrier's president said Wednesday.",0.5034344792366028,"JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.","A federal judge in 2023 ruled the New York airline's partnership in the Northeast with American Airlines was anticompetitive, while a different judge last year blocked JetBlue's plan to acquire budget carrier Spirit Airlines, which filed for Chapter 11 bankruptcy protection last year.",2025-02-24
"Forever 21 is in talks with liquidators, indicating it's struggling to find a buyer",https://www.cnbc.com/2025/02/19/forever-21-talking-to-liquidators-mulling-second-bankruptcy.html,2025-02-19T22:09:47+0000,"Beleaguered retailer Forever 21 is in talks with liquidators about future steps for the fast fashion company, according to people familiar with the matter — a sign that it's struggling to find a buyer as it mulls a second bankruptcy filing.The company has been looking for a buyer for its U.S. leases and assets to stave off extinction, the people said, and in early January announced it was exploring strategic options. However, opening up the discussion to include liquidators gives Forever 21 the option to use those proceeds to pay back creditors if it can't find a buyer.Forever 21's struggles are primarily in its U.S. business, said one of the people. Its intellectual property, such as its brand name, is not up for sale, the person added. Brand management firm Authentic Brands Group currently owns Forever 21's IP, and a separate entity operates the company.It could be difficult for Forever 21 to find a buyer that could successfully turn around the brand in its current form as it contends with heightened competition from Chinese e-tailers Shein and Temu; higher tariffs; and the loss of its cool factor, said the people, some of whom saw the company's books. The people spoke to CNBC on the condition of anonymity due to the sensitive nature of the discussions.Forever 21 has also long struggled with profitability and has faced difficulties with managing inventory and reining in costs, some of the people said.It's unclear if Forever 21 has hired a liquidator yet, and, even if it does, whether it will ultimately move in that direction. The retailer could still find a buyer, for some or all of its assets, or make a deal with creditors to avoid liquidation. Further, while Forever 21's stores and assets could liquidate, Authentic Brands Group could eventually bring it back in a different form.Forever 21 declined to comment. BRG, the advisory firm it's reportedly working with for restructuring assistance, didn't return a request for comment.The discussions come months after CNBC reported that Forever 21 was having financial difficulties and asking landlords to cut its rent by as much as 50% in some locations as it looked to rein in costs. It wasn't yet considering a second bankruptcy filing at the time, but its position has worsened in the months since. Its partnership with its rival-turned-partner Shein has also been a mixed bag, with the CEO Authentic Brands Group Jamie Salter calling it a work in progress last year during a presentation. As Forever 21's efforts to cut costs and boost sales have faltered, the company is now considering a second bankruptcy filing, the people said, confirming what the The Wall Street Journal earlier reported.Forever 21 filed for bankruptcy protection in 2019, and was later bought by a consortium including Authentic Brands Group and landlords Simon Property Group and Brookfield Property Partners.The company's first trip through Chapter 11 allowed it to restructure its balance sheet and end a number of costly leases, but in the years since, it hasn't managed to fix its business and adapt to new competitive threats. Once one of fast fashion's heavyweights, Forever 21 has been all but replaced by the category's new titans: Shein and Temu. The online-only companies have technology and artificial intelligence embedded into their operating models and aren't encumbered by costly stores. They've become adept at recognizing and responding to consumer trends at speeds so fast the rest of the retail industry has struggled to keep up. Since Shein previously partnered with Forever 21, some industry observers have questioned if the e-tailer would take over its stores. Acquiring some of Forever 21's assets could help further legitimize Shein in the U.S. and globally as it pursues a public listing in London, but one person close to the company previously said that was unlikely because of its inexperience in physical retail.Under Shein's partnership with Forever 21, the Chinese retailer had taken a stake in Forever 21's operator Sparc Group, which reorganized last month. The reorganization merged Sparc with JC Penney to form a new company dubbed Catalyst Brands.Forever 21's struggles indicate how much the category has evolved over the last few years and how difficult it is for others, especially those with large store footprints, to survive in the new landscape. The amplified competition from Shein and Temu, and the havoc the e-tailers are causing for retailers, is similar to the rise of Amazon in decades past, which contributed to an onslaught of retailer bankruptcy filings and liquidations.It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.However, since Authentic Brands already owns Forever 21's intellectual property, it's unclear who would be interested in acquiring the retailer, said Sarah Foss, a restructuring attorney and Debtwire's head of legal. Authentic Brands and similar firms are often first in line to acquire intellectual property of companies headed for a bankruptcy filing.""Those are often the front runners we're seeing in some of these retail bankruptcies,"" said Foss. ""So it'd be interesting to see who comes forward to buy Forever 21, or pieces of it."" — Additional reporting by CNBC's Lillian Rizzo",CNBC,19/02/2025,"[""Beleaguered retailer Forever 21 is in talks with liquidators about future steps for the fast fashion company, according to people familiar with the matter — a sign that it's struggling to find a buyer as it mulls a second bankruptcy filing."", 'The company has been looking for a buyer for its U.S. leases and assets to stave off extinction, the people said, and in early January announced it was exploring strategic options.', ""However, opening up the discussion to include liquidators gives Forever 21 the option to use those proceeds to pay back creditors if it can't find a buyer."", ""Forever 21's struggles are primarily in its U.S. business,said one of the people."", 'Its intellectual property, such as its brand name, is not up for sale,the person added.', ""Brand management firm Authentic Brands Group currently owns Forever 21's IP, and a separate entity operates the company."", ""It could be difficult for Forever 21 to find a buyer that could successfully turn around the brand in its current form as it contends with heightened competition from Chinese e-tailers Shein and Temu; higher tariffs; and the loss of its cool factor, said the people, some of whom saw the company's books."", 'The people spoke to CNBC on the condition of anonymity due to the sensitive nature of the discussions.', 'Forever 21 has also long struggled with profitability and has faced difficulties with managing inventory and reining in costs, some of the people said.', ""It's unclear if Forever 21 has hired a liquidator yet, and, even if it does, whether it will ultimately move in that direction."", 'The retailer could still find a buyer, for some or all of its assets, or make a deal with creditors to avoid liquidation.', ""Further, while Forever 21's stores and assets could liquidate, Authentic Brands Group could eventually bring it back in a different form."", 'Forever 21 declined to comment.', ""BRG, the advisory firm it's reportedly working with for restructuring assistance, didn't return a request for comment."", 'The discussions come months after CNBC reported that Forever 21 was having financial difficulties and asking landlords to cut its rent by as much as 50% in some locations as it looked to rein in costs.', ""It wasn't yet considering a second bankruptcy filing at the time, but its position has worsened in the months since."", 'Its partnership with its rival-turned-partner Shein has also been a mixed bag, with the CEO Authentic Brands Group Jamie Salter calling it a work in progress last year during a presentation.', ""As Forever 21's efforts to cut costs and boost sales have faltered, the company is now considering a second bankruptcy filing, the people said, confirming what the The Wall Street Journal earlier reported."", 'Forever 21 filed for bankruptcy protection in 2019, and was later bought by a consortium including Authentic Brands Group and landlords Simon Property Group and Brookfield Property Partners.', ""The company's first trip through Chapter 11 allowed it to restructure its balance sheet and end a number of costly leases, but in the years since, it hasn't managed to fix its business and adapt to new competitive threats."", ""Once one of fast fashion's heavyweights, Forever 21 has been all but replaced by the category's new titans: Shein and Temu."", ""The online-only companies have technology and artificial intelligence embedded into their operating models and aren't encumbered by costly stores."", ""They've become adept at recognizing and responding to consumer trends at speeds so fast the rest of the retail industry has struggled to keep up."", 'Since Shein previously partnered with Forever 21, some industry observers have questioned if the e-tailer would take over its stores.', ""Acquiring some of Forever 21's assets could help further legitimize Shein in the U.S. and globally as it pursues a public listing in London, but one person close to the company previously said that was unlikely because of its inexperience in physical retail."", ""Under Shein's partnership with Forever 21, the Chinese retailer had taken a stake in Forever 21's operator Sparc Group, which reorganized last month."", 'The reorganization merged Sparc with JC Penney to form a new company dubbed Catalyst Brands.', ""Forever 21's struggles indicate how much the category has evolved over the last few years and how difficult it is for others, especially those with large store footprints, to survive in the new landscape."", 'The amplified competition from Shein and Temu, and the havoc the e-tailers are causing for retailers, is similar to the rise of Amazon in decades past, which contributed to an onslaught of retailer bankruptcy filings and liquidations.', 'It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.', ""However, since Authentic Brands already owns Forever 21's intellectual property, it's unclear who would be interested in acquiring the retailer, said Sarah Foss, a restructuring attorney and Debtwire's head of legal."", 'Authentic Brands and similar firms are often first in line to acquire intellectual property of companies headed for a bankruptcy filing.', '""Those are often the front runners we\'re seeing in some of these retail bankruptcies,"" said Foss. ""', 'So it\'d be interesting to see who comes forward to buy Forever 21, or pieces of it.""—', ""Additional reporting by CNBC's Lillian Rizzo""]",0.0012121017534411,"It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.","Forever 21's struggles indicate how much the category has evolved over the last few years and how difficult it is for others, especially those with large store footprints, to survive in the new landscape.",-0.4785215308268865,"It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.","Forever 21 has also long struggled with profitability and has faced difficulties with managing inventory and reining in costs, some of the people said.",2025-02-24
KFC moves U.S. headquarters from Kentucky to Texas,https://www.cnbc.com/2025/02/18/kfc-moves-us-headquarters-from-kentucky-to-texas.html,2025-02-18T20:44:58+0000,"In this articleKFC is leaving Kentucky.The fried chicken chain's U.S. headquarters will move from Louisville, Kentucky, to Plano, Texas, owner Yum Brands said Tuesday.About 100 KFC U.S. employees will be required to relocate over the next six months.The relocation is part of Yum's broader plan to have two corporate headquarters: one in Plano, the other in Irvine, California. KFC and Pizza Hut's global teams are already based in Plano, while Taco Bell and the Habit Burger & Grill's teams are located in Irvine.Additionally, Yum's U.S. remote workforce, roughly 90 workers, will also be asked to move to the campus where their work is based.But Yum isn't entirely abandoning Kentucky. The company and the KFC Foundation plan to maintain corporate offices in Louisville. Plus, KFC still plans to build a new flagship restaurant in its former hometown.Since the Covid-19 pandemic, many employers have been rethinking the location of their corporate headquarters, often spurred to move because of lower taxes and changes to office space needs due to the hybrid or remote workforce. With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta. It later canceled plans to sell its old headquarters, instead opting to hold on to the building for the corporate workers who stayed in Louisville.",CNBC,18/02/2025,"['In this articleKFC is leaving Kentucky.', ""The fried chicken chain's U.S. headquarters will move from Louisville, Kentucky, to Plano, Texas, owner Yum Brands said Tuesday."", 'About 100 KFC U.S. employees will be required to relocate over the next six months.', ""The relocation is part of Yum's broader plan to have two corporate headquarters: one in Plano, the other in Irvine, California."", ""KFC and Pizza Hut's global teams are already based in Plano, while Taco Bell and the Habit Burger & Grill's teams are located in Irvine."", ""Additionally, Yum's U.S. remote workforce, roughly 90 workers, will also be asked to move to the campus where their work is based."", ""But Yum isn't entirely abandoning Kentucky."", 'The company and the KFC Foundation plan to maintain corporate offices in Louisville.', 'Plus, KFC still plans to build a new flagship restaurant in its former hometown.', 'Since the Covid-19 pandemic, many employers have been rethinking the location of their corporate headquarters, often spurred to move because of lower taxes and changes to office space needs due to the hybrid or remote workforce.', 'With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta.', 'It later canceled plans to sell its old headquarters, instead opting to hold on to the building for the corporate workers who stayed in Louisville.']",-0.0035000290756973,"With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta.",But Yum isn't entirely abandoning Kentucky.,0.7785136699676514,"With its business-friendly policies, Texas has been the most popular relocation choice, according to a 2023 report from CBRE.In 2020, Yum rival Papa Johns moved its headquarters from Louisville to Atlanta.",,2025-02-23
Southwest Airlines to slash 15% of corporate jobs in 'unprecedented' move to cut costs,https://www.cnbc.com/2025/02/17/southwest-airlines-to-cut-15percent-of-corporate-jobs-in-cost-saving-push.html,2025-02-17T22:44:09+0000,"In this articleSouthwest Airlines said Monday that it is cutting about 15% of corporate jobs, or about 1,750 people, a move its CEO called ""unprecedented"" as the company scrambles to cut costs.The company said it expects savings from the cuts of $210 million this year and about $300 million in 2026. The layoffs will be mostly done by the end of the second quarter and include some senior leadership roles, CEO Bob Jordan said in a staff note, which was seen by CNBC.""This decision is unprecedented in our 53-year history, and change requires that we make difficult decisions,"" Jordan said in a news release. ""We are at a pivotal moment as we transform Southwest Airlines into a leaner, faster, and more agile organization.""Southwest's decision to slash jobs comes several months after a settlement with activist investor Elliott Investment Management, which won five Southwest board seats, short of control. The firm had also pushed for Jordan to be replaced as CEO, though it was not successful.Other recent cost-cutting measures at Southwest included a hiring freeze, a pause to the internship program and an end to team-building ""rallies,"" a company tradition that dated back to 1985, CNBC previously reported. It has also aggressively cut unprofitable routes.Last year, Southwest outlined a plan to increase profits that included ditching its more than 50-year-old open seating model in favor of assigned seats and creating a section with extra legroom. It also recently launched overnight flights for the first time.""We must ensure we fund the right work, reduce duplicative efforts, and have a lean organizational structure that drives clarity, pace, and urgency,"" Jordan said in his memo on Monday.The layoffs take effect in late April, Jordan said, adding that most affected employees will not work but will still receive salary, benefits and bonus until then.",CNBC,17/02/2025,"['In this articleSouthwest Airlines said Monday that it is cutting about 15% of corporate jobs, or about 1,750 people, a move its CEO called ""unprecedented"" as the company scrambles to cut costs.', 'The company said it expects savings from the cuts of $210 million this year and about $300 million in 2026.', 'The layoffs will be mostly done by the end of the second quarter and include some senior leadership roles, CEO Bob Jordan said in a staff note, which was seen by CNBC.""This decision is unprecedented in our 53-year history, and change requires that we make difficult decisions,"" Jordan said in a news release. ""', 'We are at a pivotal moment as we transform Southwest Airlines into a leaner, faster, and more agile organization.', '""Southwest\'s decision to slash jobs comes several months after a settlement with activist investor Elliott Investment Management, which won five Southwest board seats, short of control.', 'The firm had also pushed for Jordan to be replaced as CEO, though it was not successful.', 'Other recent cost-cutting measures at Southwest included a hiring freeze, a pause to the internship program and an end to team-building ""rallies,"" a company tradition that dated back to 1985, CNBC previously reported.', 'It has also aggressively cut unprofitable routes.', 'Last year, Southwest outlined aplan to increase profitsthat included ditching its more than 50-year-old open seating model in favor of assigned seats and creating a section with extra legroom.', 'It also recently launched overnight flights for the first time.', '""We must ensure we fund the right work, reduce duplicative efforts, and have a lean organizational structure that drives clarity, pace, and urgency,"" Jordan said in his memo on Monday.', 'The layoffs take effect in late April, Jordan said, adding that most affected employees will not work but will still receive salary, benefits and bonus until then.']",0.0505184562607979,"The layoffs take effect in late April, Jordan said, adding that most affected employees will not work but will still receive salary, benefits and bonus until then.",It has also aggressively cut unprofitable routes.,0.0021583884954452,The company said it expects savings from the cuts of $210 million this year and about $300 million in 2026.,It has also aggressively cut unprofitable routes.,2025-02-23
JetBlue talking to 'multiple airlines' about a new partnership,https://www.cnbc.com/2025/02/19/jetblue-talking-to-multiple-airlines-about-a-new-partnership.html,2025-02-19T17:19:01+0000,"In this articleJetBlue Airways is talking with ""multiple airlines"" about a potential new partnership after federal judges struck down two previous deals, the carrier's president said Wednesday.""If we find a deal that's accretive, we'll absolutely do it,"" JetBlue's president, Marty St. George, said at a Barclays industry conference.A federal judge in 2023 ruled the New York airline's partnership in the Northeast with American Airlines was anticompetitive, while a different judge last year blocked JetBlue's plan to acquire budget carrier Spirit Airlines, which filed for Chapter 11 bankruptcy protection last year.JetBlue representatives didn't immediately respond to a request for comment.JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.St. George said a potential tie-up would benefit the company's loyalty program, noting that customers say the frequent flyer points on JetBlue are not as strong as those of the big three U.S. carriers.""Given that we really don't have full global earn and burn, I think to be able to add that to our network would be very, very helpful,"" he said.",CNBC,19/02/2025,"['In this articleJetBlue Airways is talking with ""multiple airlines"" about a potential new partnership after federal judges struck down two previous deals, the carrier\'s president said Wednesday.', '""Ifwefindadealthat\'saccretive,we\'llabsolutelydoit,"" JetBlue\'s president, Marty St. George, said at a Barclays industry conference.', ""A federal judge in 2023 ruled the New York airline's partnership in the Northeast with American Airlines was anticompetitive, while a different judge last year blocked JetBlue's plan to acquire budget carrier Spirit Airlines, which filed for Chapter 11 bankruptcy protection last year."", ""JetBlue representatives didn't immediately respond to a request for comment."", 'JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.', ""St. George said a potential tie-up would benefit the company's loyalty program, noting that customers say the frequent flyer points on JetBlue are not as strong as those of the big three U.S. carriers."", '""Giventhatwereallydon\'thavefullglobalearnandburn,Ithinkto be able to add that to our network would be very, very helpful,"" he said.']",0.2241784982131064,"JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.","In this articleJetBlue Airways is talking with ""multiple airlines"" about a potential new partnership after federal judges struck down two previous deals, the carrier's president said Wednesday.",0.5034344792366028,"JetBlue, which marked its 25th year of flying this month, has been searching for partnerships and deals to grow, contending it must do so to better compete with larger carriers like Delta, American and United.","A federal judge in 2023 ruled the New York airline's partnership in the Northeast with American Airlines was anticompetitive, while a different judge last year blocked JetBlue's plan to acquire budget carrier Spirit Airlines, which filed for Chapter 11 bankruptcy protection last year.",2025-02-23
Nike teams up with Kim Kardashian shapewear brand Skims as it looks to reach more women,https://www.cnbc.com/2025/02/18/nike-teams-up-with-skims-to-launch-new-brand.html,2025-02-18T16:57:08+0000,"In this articleNike has teamed up with Kim Kardashian's intimates brand Skims to launch a new line of activewear as the legacy sneaker giant looks to win over more women and better compete with Lululemon, Alo Yoga and Vuori, the companies announced Tuesday. The new brand, dubbed NikeSKIMS, will include apparel, footwear and accessories. It will debut its initial collection this spring, with a global rollout planned for 2026. It is not clear what exactly the products will look like or what items will be included in the initial collection. The only image contained in Nike's announcement was a graphic of the new brand's logo. Nike's partnership with Skims, the buzzy shapewear brand created by Kardashian and Swedish entrepreneur Jens Grede, the brand's CEO, comes as Nike looks to claw back the market share it has lost to upstart competitors and bring more women into the brand. A new activewear line with the Skims name attached will give Nike an in with the types of shoppers who are buying activewear from Lululemon and newer competitors such as Alo Yoga and Vuori, which cater more to women than Nike currently does. Nike has said previously that about 40% of its customers are women, but most apparel brands prefer to have more female consumers than male because they tend to shop more and spend more on clothes. Plus, this gender gap has allowed Nike's competitors to get a foothold in the athletic apparel business, which could be a growth opportunity for the sneaker giant. In fiscal 2024, apparel only represented about 28% of Nike brand revenue. Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades. The campaign, called ""So Win,"" highlights female athletes such as gymnast Jordan Chiles and Women's National Basketball Association stars Caitlin Clark and Sabrina Ionescu. The spot touched on the challenges women have faced in sports and called on them to win, even though they have been told what they can't do and who they shouldn't be. The campaign made it clear that reaching female athletes and capturing the buzz currently surrounding women's sports will be a focal point of Nike's strategy under its new CEO Elliott Hill. Not only will the Skims partnership allow Nike to better compete for women, but it will also bring in a new product line at a time when the company has been accused of falling behind on innovation and churning out the same legacy styles that are no longer exciting to consumers. For Skims, which was last valued at $4 billion, the Nike partnership and access to its manufacturing and development capabilities brings a growth opportunity for a brand that is popular but still relatively small compared to competitors. Other intimates brands, such as Victoria's Secret, have tried and largely failed to branch into activewear, so Skims might be able to prove itself a winner in the space with Nike by its side. Plus, it bodes well for an initial public offering, which Skims has been considering. If Skims can show that it has more growth opportunities and a strategic partner like Nike, a public debut will be an easier sell to investors who are cautious on consumer companies amid tariff concerns, persistent inflation and a pullback on discretionary spending. Grede has said previously that the retailer deserves to be a public company, but he told WWD in December that it has not yet made a decision on an IPO.",CNBC,18/02/2025,"[""In this articleNike has teamed up with Kim Kardashian's intimates brand Skims to launch a new line of activewear as the legacy sneaker giant looks to win over more women and better compete with Lululemon, Alo Yoga and Vuori, the companies announced Tuesday."", 'The new brand, dubbed NikeSKIMS, will include apparel, footwear and accessories.', 'It will debut its initial collection this spring, with a global rollout planned for 2026.', 'It is not clear what exactly the products will look like or what items will be included in the initial collection.', ""The only image contained in Nike's announcement was a graphic of the new brand's logo."", ""Nike's partnership with Skims, the buzzy shapewear brand created by Kardashian and Swedish entrepreneur Jens Grede, the brand's CEO, comes as Nike looks to claw back the market share it has lost to upstart competitors and bring more women into the brand."", 'A new activewear line with the Skims name attached will give Nike an in with the types of shoppers who are buying activewear from Lululemon and newer competitors such as Alo Yoga and Vuori, which cater more to women than Nike currently does.', 'Nike has said previously that about 40% of its customers are women, but most apparel brands prefer to have more female consumers than male because they tend to shop more and spend more on clothes.', ""Plus, this gender gap has allowed Nike's competitors to get a foothold in the athletic apparel business, which could be a growth opportunity for the sneaker giant."", 'In fiscal 2024, apparel only represented about 28% of Nike brand revenue.', 'Nike debuted a new ad campaign geared toward female athletes during the Super Bowl, its first big game advertisement in decades.', 'The campaign, called ""So Win,"" highlights female athletes such as gymnast Jordan Chiles and Women\'s National Basketball Association stars Caitlin Clark and Sabrina Ionescu.', ""The spot touched on the challenges women have faced in sports and called on them to win, even though they have been told what they can't do and who they shouldn't be."", ""The campaign made it clear that reaching female athletes and capturing the buzz currently surrounding women's sports will be a focal point of Nike's strategy under its new CEO Elliott Hill."", 'Not only will the Skims partnership allow Nike to better compete for women, but it will also bring in a new product line at a time when the company has been accused of falling behind on innovation and churning out the same legacy styles that are no longer exciting to consumers.', 'For Skims, which was last valued at $4 billion, the Nike partnership and access to its manufacturing and development capabilities brings a growth opportunity for a brand that is popular but still relatively small compared to competitors.', ""Other intimates brands, such as Victoria's Secret, have tried and largely failed to branch into activewear, so Skims might be able to prove itself a winner in the space with Nike by its side."", 'Plus, it bodes well for an initial public offering, which Skims has been considering.', 'If Skims can show that it has more growth opportunities and a strategic partner like Nike, a public debut will be an easier sell to investors who are cautious on consumer companies amid tariff concerns, persistent inflation and a pullback on discretionary spending.', 'Grede has said previously that the retailer deserves to be a public company, but he told WWD in December that it has not yet made a decision on an IPO.']",0.3314994064443706,"If Skims can show that it has more growth opportunities and a strategic partner like Nike, a public debut will be an easier sell to investors who are cautious on consumer companies amid tariff concerns, persistent inflation and a pullback on discretionary spending.",,0.9979693359798856,"For Skims, which was last valued at $4 billion, the Nike partnership and access to its manufacturing and development capabilities brings a growth opportunity for a brand that is popular but still relatively small compared to competitors.",,2025-02-23
ESPN plans to add user-generated content to upcoming 'flagship' streaming service,https://www.cnbc.com/2025/02/20/espn-flagship-streaming-service-user-generated-content.html,2025-02-20T16:21:06+0000,"In this articleIn an attempt to court younger audiences, Disney's ESPN is planning to add some user-generated content to its yet-to-be-named flagship streaming service, which will debut later this year.While the details are still unclear, ESPN will allow subscribers to post their own content at some point in the application's evolution, according to people familiar with the matter. The technology likely won't be available at launch, which the company hopes will occur before the National Football League season begins in September. An ESPN spokesperson declined to comment.Disney executives have also considered adding user-generated content to Disney+ and discuss YouTube's influence on streaming on a near daily basis, CNBC reported last year.Alphabet's YouTube, which leans heavily on creator-led content, is the most popular streaming service with an 11.1% share of total TV usage in the U.S., according to Nielsen.ESPN executives are targeting a price of either $25 per month or $30 per month for the ESPN streaming service, which will include all of ESPN's linear programming plus other digital add-ons, the people said.The company plans to announce a name for the service, a price and a launch date in the coming months, the people said.Media and professional sports league executives are focusing on how to capture the attention of younger viewers that are opting to watch YouTube or TikTok over live games. ESPN spends tens of billions of dollars each year on the media rights for live sports.For more details on this story and others, subscribe to the CNBC Sport newsletter. This week's edition can be found here.The CNBC Sport newsletter with Alex Sherman brings you the biggest news and exclusive interviews from the worlds of sports business and media, delivered weekly to your inbox.Subscribe here to get access today.",CNBC,20/02/2025,"[""In this articleIn an attempt to court younger audiences, Disney's ESPN is planning to add some user-generated content to its yet-to-be-named flagship streaming service, which will debut later this year."", ""While the details are still unclear, ESPN will allow subscribers to post their own content at some point in the application's evolution, according to people familiar with the matter."", ""The technology likely won't be available at launch, which the company hopes will occur before the National Football League season begins in September."", 'An ESPN spokesperson declined to comment.', ""Disney executives have also considered adding user-generated content to Disney+ and discuss YouTube's influence on streaming on a near daily basis, CNBC reported last year."", ""Alphabet's YouTube, which leans heavily on creator-led content, is the most popular streaming service with an 11.1% share of total TV usage in the U.S., according to Nielsen."", ""ESPN executives are targeting a price of either $25 per month or $30 per month for the ESPN streaming service, which will include all of ESPN's linear programming plus other digital add-ons, the people said."", 'The company plans to announce a name for the service, a price and a launch date in the coming months, the people said.', 'Media and professional sports league executives are focusing on how to capture the attention of younger viewers that are opting to watch YouTube or TikTok over live games.', 'ESPN spends tens of billions of dollars each year on the media rights for live sports.', 'For more details on this story and others, subscribe to the CNBC Sport newsletter.', ""This week's edition can be found here."", 'The CNBC Sport newsletter with Alex Sherman brings you the biggest news and exclusive interviews from the worlds of sports business and media, delivered weekly to your inbox.', 'Subscribe here to get access today.']",0.0928565795323072,"Alphabet's YouTube, which leans heavily on creator-led content, is the most popular streaming service with an 11.1% share of total TV usage in the U.S., according to Nielsen.",,,,,2025-02-23
Walmart is getting a bump from a surprising cohort: Wealthier shoppers,https://www.cnbc.com/2025/02/19/walmart-earnings-wealthy-shoppers-boost-sales.html,2025-02-19T19:37:03+0000,"In this articleWalmart is known for its low prices and no frills approach.So it may come as a surprise that wealthier shoppers are helping to fuel the retailer's growth.For more than two years, the discounter has noticed more customers with six-figure incomes shopping on its website and in its stores. Households earning more than $100,000 made up 75% of the company's market share gains in the fiscal third quarter, Walmart CEO Doug McMillon said on the company's earnings call in November.Those newer and more frequent customers have helped support the company's aspirations to sell more higher-margin items, such as clothing and home goods. They are driving Walmart's e-commerce sales, which have grown by double digits for 10 consecutive quarters. And they can boost the retailer's newer revenue streams, such as subscription-based membership program Walmart+ and its advertising business Walmart Connect.As Walmart reports its latest earnings on Thursday, Wall Street will be watching whether those upper-income customers are sticking around, after market share gains helped the retailer's shares soar about 83% in the last year. Yet some investors have questioned whether Walmart's traction with affluent shoppers has staying power, especially if the sticker shock of inflation cools.In an interview with CNBC, Walmart U.S. CEO John Furner acknowledged that the retailer has gained and then lost upper-income customers before, such as in 2008 and 2009 during the Great Recession. Affluent shoppers stretched their dollars at the big-box retailer, but then ultimately returned to competitors.This time, Furner said the gains will last because Walmart can save shoppers both time and money with e-commerce options.""It's different because we deliver to you at the curb [of the store],"" he said in the late January interview. ""We deliver to your house. We deliver to your refrigerator. That whole Supercenter, which is an amazing retail format, is available in an hour or two for a large part of the country and growing really quickly.""Walmart's expanding digital services have helped convince higher-income shoppers to give it a shot, said Brad Thomas, a retail analyst and managing director at KeyBanc Capital Markets. Some of those newer or more frequent customers have joined Walmart+, a subscription-based membership program that includes perks like free home deliveries. Walmart+, which launched about five years ago, is Walmart's answer to Amazon Prime.Walmart has not disclosed the program's membership count, but it has reported double-digit membership income growth in each of the past four quarters.Thomas said e-commerce options wipe out a potential hurdle for affluent shoppers: a potential stigma about shopping at the big-box stores themselves.""There's a customer in America that doesn't think of itself as a Walmart shopper,"" he said. ""They think of themselves as a Target shopper or a Publix or a Whole Foods shopper and through the app and through the delivery capabilities, they can remain a non-Walmart core shopper, but get all the benefits of getting the branded items at Walmart prices.""As inflation forced shoppers of all incomes to hunt for deals, some wealthier consumers realized they can get the same national brands like Tide detergent or Bounty paper towels from Walmart cheaper and often faster than at Amazon because of Walmart's nearby stores, he said.Walmart's website and app have increased their selection, too, as the company has bulked up its third-party marketplace. Starting this summer, the company began offering premium beauty brands through its website, including hairdryers from T3 and perfumes from Victoria's Secret.Shoppers can now find handbags from Chanel and Louis Vuitton, too. Last month, Walmart announced a deal with resale platform Rebag, which sells the items through Walmart's marketplace.Yet as Walmart tries to keep those customers, it wants to encourage them to shop in person, as well. Walmart has stepped up investments in its stores to freshen its look and counter negative perceptions that higher-income shoppers might have.Walmart has sped up the pace of remodels for its more than 4,600 stores across the U.S., with plans to revamp about 650 locations per year, an acceleration from a prior cadence of 450 to 500 per year, said Hunter Hart, senior vice president of Walmart Realty.Remodeled stores have brighter lighting, wider aisles and mannequins, said Alvis Washington, Walmart's vice president of retail brand experience. The stores also feature Walmart's newer and more fashion-forward brands like Scoop and Free Assembly, and national brands that shoppers would recognize, such as Reebok.The discounter launched a new grocery brand, BetterGoods, last year with colorful packaging and creative flavors that looks similar to merchandise that shoppers might find at Trader Joe's or Target.Walmart U.S. CEO Furner said some of those changes have drawn upper-income customers to the company's stores and app.He said Walmart's market share gains with affluent shoppers have come from online and in-store shopping, but added curbside pickup orders showed early signs of popularity with those customers. Even before the pandemic, Walmart saw that people who shopped with curbside pickup bought more higher-priced items, such as prime beef and seafood, Furner added.He said that still rings true: Walmart sees more premium items in the shopping baskets of customers who buy online, get home deliveries or use curbside pickup.Washington said Walmart treaded carefully with its store redesign, realizing it could risk its reputation for low prices and resonance with core customers, who typically have lower incomes. It promoted newer brands, but mixed in familiar staples, such as folded piles of inexpensive bath towels and denim.""Having a great, elevated experience and great value aren't mutually exclusive,"" Walmart's Washington said, recounting the company's approach. ""So when we looked at this, it's like, how do we do both and make sure we can gain new customers and maintain the customers that we have?When comparing remodeled stores to the rest of the fleet, Washington said higher comparable store sales reflect that customers like the different look. Walmart declined to provide specific numbers, saying it won't release sales numbers until it reports fourth-quarter earnings.Walmart's customer mix for its U.S. e-commerce business hasn't changed, even as it attracts higher-income shoppers, according to an analysis by market research firm Euromonitor. About 34% of Walmart's online customers in the U.S. last year had incomes of $100,000 and above, which is roughly flat compared with two years prior.Michelle Evans, global lead for retail and digital shopper insights at Euromonitor, said that indicates that Walmart is also gaining market share from lower- and middle-income customers.Walmart still has a smaller share of higher-income shoppers than some key rivals: 49% and 48% of online U.S. shoppers at Target and Amazon, respectively, have incomes above $100,000.Amazon remains a formidable competitor, especially when it comes to wealthier shoppers and general merchandise categories, Evans said. But Walmart's biggest edge is its grocery department.One of Walmart's newer, higher-income shoppers is Francesca Frink. The 30-year-old lives in the Chicago suburb of Park Ridge, Illinois, with her husband, Sam, 1-year-old son and their English setter. The Frink family's combined annual household income is more than $200,000.Last fall, Francesca Frink signed up for Walmart+ after her mother-in-law ordered a stroller from Walmart's website and got it dropped at her door three hours later.Initially, she said she hesitated to order fresh foods from Walmart. She bought packaged items like pasta and flour. Yet over time, the couple began ordering a larger portion of groceries, dog treats and even clothes for their son from Walmart.The Frinks have stopped going to their old grocery store, Kroger-owned supermarket Mariano's. They estimate that their weekly grocery bill is about 20% cheaper.Previously, the couple said they avoided Walmart because their nearest store is outdated. Yet Sam Frink said the game has changed with curbside pickup and home deliveries.""You don't have to go in,"" he said. ""That's the biggest thing.""Francesca Frink said home deliveries from Walmart, included in their Walmart+ membership, save the couple time while they juggle two careers, a toddler and a dog. Plus, she said she found that Walmart had the grocery items she wanted and even those she didn't expect, including organic blueberries, natural peanut butter and specialty mushroom ravioli.Still, Francesca Frink said she still faces some apprehension from friends and family about buying groceries from Walmart.But she said they've been surprised when they've tried and liked food items from Walmart.In her day job, Euromonitor's Evans tracked Walmart's digital gains with higher-income shoppers. Yet she also saw it firsthand in her household.Her husband signed the family up for Walmart+. During the holiday season, he told her all of his Christmas purchases would be coming from the discounter.""He made a comment that all the gifts were coming from Walmart, and obviously that comes with a certain impression,"" she said.So she was surprised when she opened his gift and discovered it was a Michael Kors tote.",CNBC,19/02/2025,"['In this articleWalmart is known for its low prices and no frills approach.', ""So it may come as a surprise that wealthier shoppers are helping to fuel the retailer's growth."", 'For more than two years, the discounter has noticed more customers with six-figure incomes shopping on its website and in its stores.', ""Households earning more than $100,000 made up 75% of the company's market share gains in the fiscal third quarter, Walmart CEO Doug McMillon said on the company's earnings call in November."", ""Those newer and more frequent customers have helped support the company's aspirations to sell more higher-margin items, such as clothing and home goods."", ""They are driving Walmart's e-commerce sales, which have grown by double digits for 10 consecutive quarters."", ""And they can boost the retailer's newer revenue streams, such as subscription-based membership program Walmart+ and its advertising business Walmart Connect."", ""As Walmart reports its latest earnings on Thursday, Wall Street will be watching whether those upper-income customers are sticking around, after market share gains helped the retailer's shares soar about 83% in the last year."", ""Yet some investors have questioned whether Walmart's traction with affluent shoppers has staying power, especially if the sticker shock of inflation cools."", 'In an interview with CNBC, Walmart U.S. CEO John Furner acknowledged that the retailer has gained and then lost upper-income customers before, such as in 2008 and 2009 during the Great Recession.', 'Affluent shoppers stretched their dollars at the big-box retailer, but then ultimately returned to competitors.', 'This time, Furner said the gains will last because Walmart can save shoppers both time and money with e-commerce options.', '""It\'s different because we deliver to you at the curb [of the store],"" he said in the late January interview. ""', 'We deliver to your house.', 'We deliver to your refrigerator.', 'That whole Supercenter, which is an amazing retail format, is available in an hour or two for a large part of the country and growing really quickly.', '""Walmart\'s expanding digital services have helped convince higher-income shoppers to give it a shot, said Brad Thomas, a retail analyst and managing director atKeyBancCapital Markets.', 'Some of those newer or more frequent customers have joined Walmart+, a subscription-based membership program that includes perks like free home deliveries.', ""Walmart+, which launched about five years ago, is Walmart's answer to Amazon Prime."", ""Walmart has not disclosed the program's membership count, but it has reported double-digit membership income growth in each of the past four quarters."", 'Thomas said e-commerce options wipe out a potential hurdle for affluent shoppers: a potential stigma about shopping at the big-box stores themselves.', '""There\'s a customer in America that doesn\'t think of itself as a Walmart shopper,"" he said. ""', 'They think of themselves as a Target shopper or a Publix or a Whole Foods shopper and through the app and through the delivery capabilities, they can remain a non-Walmart core shopper, but get all the benefits of getting the branded items at Walmart prices.', '""As inflation forced shoppers of all incomes to hunt for deals, some wealthier consumers realized they can get the same national brands like Tide detergent or Bounty paper towels from Walmart cheaper and often faster than at Amazon because of Walmart\'s nearby stores, he said.', ""Walmart's website and app have increased their selection, too, as the company has bulked up its third-party marketplace."", ""Starting this summer, the company began offering premium beauty brands through its website, including hairdryers from T3 and perfumes from Victoria's Secret."", 'Shoppers can now find handbags from Chanel and Louis Vuitton, too.', ""Last month, Walmart announced a deal with resale platform Rebag, which sells the items through Walmart's marketplace."", 'Yet as Walmart tries to keep those customers, it wants to encourage them to shop in person, as well.', 'Walmart has stepped up investments in its stores to freshen its look and counter negative perceptions that higher-income shoppers might have.', 'Walmart has sped up the pace of remodels for its more than 4,600 stores across the U.S., with plans to revamp about 650 locations per year, an acceleration from a prior cadence of 450 to 500 per year, said Hunter Hart, senior vice president of Walmart Realty.', ""Remodeled stores have brighter lighting, wider aisles and mannequins, said Alvis Washington, Walmart's vice president of retail brand experience."", ""The stores also feature Walmart's newer and more fashion-forward brands like Scoop and Free Assembly, and national brands that shoppers would recognize, such as Reebok."", ""The discounter launched a new grocery brand, BetterGoods, last year with colorful packaging and creative flavors that looks similar to merchandise that shoppers might find at Trader Joe's or Target."", ""Walmart U.S. CEO Furner said some of those changes have drawn upper-income customers to the company's stores and app."", ""He said Walmart's market share gains with affluent shoppers have come from online and in-store shopping, but added curbside pickup orders showed early signs of popularity with those customers."", 'Even before the pandemic, Walmart saw that people who shopped with curbside pickup bought more higher-priced items, such as prime beef and seafood, Furner added.', 'He said that still rings true: Walmart sees more premium items in the shopping baskets of customers who buy online, get home deliveries or use curbside pickup.', 'Washington said Walmart treaded carefully with its store redesign, realizing it could risk its reputation for low prices and resonance with core customers, who typically have lower incomes.', 'It promoted newer brands, but mixed in familiar staples, such as folded piles of inexpensive bath towels and denim.', '""Having a great, elevated experience and great value aren\'t mutually exclusive,"" Walmart\'s Washington said, recounting the company\'s approach. ""', ""So when we looked at this, it's like, how do we do both and make sure we can gain new customers and maintain the customers that we have?When comparing remodeled stores to the rest of the fleet, Washington said higher comparable store sales reflect that customers like the different look."", ""Walmart declined to provide specific numbers, saying it won't release sales numbers until it reports fourth-quarter earnings."", ""Walmart's customer mix for its U.S. e-commerce business hasn't changed, even as it attracts higher-income shoppers, according to an analysis by market research firm Euromonitor."", ""About 34% of Walmart's online customers in the U.S. last year had incomes of $100,000 and above, which is roughly flat compared with two years prior."", 'Michelle Evans, global lead for retail and digital shopper insights at Euromonitor, said that indicates that Walmart is also gaining market share from lower- and middle-income customers.', 'Walmart still has a smaller share of higher-income shoppers than some key rivals: 49% and 48% of online U.S. shoppers at Target and Amazon, respectively, have incomes above $100,000.Amazon remains a formidable competitor, especially when it comes to wealthier shoppers and general merchandise categories, Evans said.', ""But Walmart's biggest edge is its grocery department."", ""One of Walmart's newer, higher-income shoppers is Francesca Frink."", 'The 30-year-old lives in the Chicago suburb of Park Ridge, Illinois, with her husband, Sam, 1-year-old son and their English setter.', ""The Frink family's combined annual household income is more than $200,000.Last fall, Francesca Frink signed up for Walmart+ after her mother-in-law ordered a stroller from Walmart's website and got it dropped at her door three hours later."", 'Initially, she said she hesitated to order fresh foods from Walmart.', 'She bought packaged items like pasta and flour.', 'Yet over time, the couple began ordering a larger portion of groceries, dog treats and even clothes for their son from Walmart.', ""The Frinks have stopped going to their old grocery store, Kroger-owned supermarket Mariano's."", 'They estimate that their weekly grocery bill is about 20% cheaper.', 'Previously, the couple said they avoided Walmart because their nearest store is outdated.', 'Yet Sam Frink said the game has changed with curbside pickup and home deliveries.', '""You don\'t have to go in,"" he said. ""', ""That's the biggest thing."", '""Francesca Frink said home deliveries from Walmart, included in their Walmart+ membership, save the couple time while they juggle two careers, a toddler and a dog.', ""Plus, she said she found that Walmart had the grocery items she wanted and even those she didn't expect, including organic blueberries, natural peanut butter and specialty mushroom ravioli."", 'Still, Francesca Frink said she still faces some apprehension from friends and family about buying groceries from Walmart.', ""But she said they've been surprised when they've tried and liked food items from Walmart."", ""In her day job, Euromonitor's Evans tracked Walmart's digital gains with higher-income shoppers."", 'Yet she also saw it firsthand in her household.', 'Her husband signed the family up for Walmart+.', 'During the holiday season, he told her all of his Christmas purchases would be coming from the discounter.', '""He made a comment that all the gifts were coming from Walmart, and obviously that comes with a certain impression,"" she said.', 'So she was surprised when she opened his gift and discovered it was a Michael Kors tote.']",0.2425235485871454,"""Having a great, elevated experience and great value aren't mutually exclusive,"" Walmart's Washington said, recounting the company's approach. ""","Washington said Walmart treaded carefully with its store redesign, realizing it could risk its reputation for low prices and resonance with core customers, who typically have lower incomes.",0.7540351612227304,"They are driving Walmart's e-commerce sales, which have grown by double digits for 10 consecutive quarters.","About 34% of Walmart's online customers in the U.S. last year had incomes of $100,000 and above, which is roughly flat compared with two years prior.",2025-02-23
"From pills to new uses, here's what Eli Lilly’s top scientist sees as the future of weight loss drugs",https://www.cnbc.com/2025/02/20/eli-lilly-dan-skovronsky-discusses-weight-loss-drugs.html,2025-02-20T15:28:50+0000,"In this articleDan Skovronsky knows what makes a good obesity drug.As chief scientific officer at Eli Lilly, he's already done it once with the company's weekly shot, Zepbound. He's trying to do it again with a more convenient daily pill, then repeat the feat with a shot that could be even more powerful than Zepbound. And that's not counting the other nine obesity drugs Lilly's testing in clinical trials.Skovronsky said the race to create the next great drug is not just about weight loss anymore, something more investors and analysts are starting to say.Take Amgen's experimental drug MariTide: people lost up to 20% of their body weight in a phase two study and Amgen shares fell about 5% on the day the results were released in November. Why? Investors worried that it wouldn't be enough to compete with Lilly's Zepbound and Novo Nordisk's Wegovy, both of which will have a yearslong head start. Skovornsky sees improving ease of use and making more potent drugs as two paths to move the field forward. He envisions pills like Lilly's orforglipron reaching people around the world. He sees drugs that can deliver more weight loss – possibly including Lilly's own retatrutide – as another area with potential. But he's most excited to see how many other health conditions that incretin – or gut hormone – medicines can treat. Lilly's Zepbound recently was approved to treat sleep apnea. The company's also exploring whether it can treat addiction, heart disease, inflammation and gastrointestinal conditions. You can watch to the full interview for more from Skovronsky on Lilly's work in obesity and where he sees the market going.",CNBC,20/02/2025,"['In this articleDan Skovronsky knows what makes a good obesity drug.', ""As chief scientific officer at Eli Lilly, he's already done it once with the company's weekly shot, Zepbound."", ""He's trying to do it again with a more convenient daily pill, then repeat the feat with a shot that could be even more powerful than Zepbound."", ""And that's not counting the other nine obesity drugs Lilly's testing in clinical trials."", 'Skovronsky said the race to create the next great drug is not just about weight loss anymore, something more investors and analysts are starting to say.', ""Take Amgen's experimental drug MariTide: people lost up to 20% of their body weight in a phase two study and Amgen shares fell about 5% on the day the results were released in November."", 'Why?', ""Investors worried that it wouldn't be enough to compete with Lilly's Zepbound and Novo Nordisk's Wegovy, both of which will have a yearslong head start."", 'Skovornsky sees improving ease of use and making more potent drugs as two paths to move the field forward.', ""He envisions pills like Lilly's orforglipron reaching people around the world."", ""He sees drugs that can deliver more weight loss – possibly including Lilly's own retatrutide – as another area with potential."", ""But he's most excited to see how many other health conditions that incretin – or gut hormone – medicines can treat."", ""Lilly's Zepbound recently was approved to treat sleep apnea."", ""The company's also exploring whether it can treat addiction, heart disease, inflammation and gastrointestinal conditions."", ""You can watch to the full interview for more from Skovronsky on Lilly's work in obesity and where he sees the market going.""]",0.2562284589745471,But he's most excited to see how many other health conditions that incretin – or gut hormone – medicines can treat.,He sees drugs that can deliver more weight loss – possibly including Lilly's own retatrutide – as another area with potential.,-0.3311733802159627,Skovornsky sees improving ease of use and making more potent drugs as two paths to move the field forward.,Take Amgen's experimental drug MariTide: people lost up to 20% of their body weight in a phase two study and Amgen shares fell about 5% on the day the results were released in November.,2025-02-23
"Government travel has 'fallen off' since Trump inauguration, United Airlines says",https://www.cnbc.com/2025/02/19/united-says-government-travel-falls-amid-trump-musk-firings.html,2025-02-19T20:19:12+0000,"In this articleUnited Airlines says travel demand has been resilient lately — except from the U.S. government.Government travel ""has fallen off here post-inauguration,"" United's Chief Financial Officer Mike Leskinen said at a Barclays industry conference on Wednesday, referring to the start of President Donald Trump's term last month.Trump and his advisor, billionaire Elon Musk, have vowed to cut costs in the government, and thousands of government workers have either been laid off or offered buyouts. Jobless claims have surged in Washington, D.C.The government travel segment is about 2% of United's revenue, a United spokeswoman said. The airline brought in nearly $52 billion in passenger revenue last year. Leskinen said other demand is helping to make up for the shortfall.Strong international leisure travel demand continues to outshine domestic demand, Leskinen added.",CNBC,19/02/2025,"['In this articleUnited Airlines says travel demand has been resilient lately — except from the U.S. government.', 'Government travel ""has fallen off here post-inauguration,"" United\'s Chief Financial Officer Mike Leskinen said at a Barclays industry conference on Wednesday, referring to the start of President Donald Trump\'s term last month.', 'Trump and his advisor, billionaire Elon Musk, have vowed to cut costs in the government, and thousands of government workers have either been laid off or offered buyouts.', ""Jobless claims have surged in Washington, D.C.The government travel segment is about 2% of United's revenue, a United spokeswoman said."", 'The airline brought in nearly $52 billion in passenger revenue last year.', 'Leskinen said other demand is helping to make up for the shortfall.', 'Strong international leisure travel demand continues to outshine domestic demand, Leskinen added.']",0.1218385210657379,"Jobless claims have surged in Washington, D.C.The government travel segment is about 2% of United's revenue, a United spokeswoman said.","Trump and his advisor, billionaire Elon Musk, have vowed to cut costs in the government, and thousands of government workers have either been laid off or offered buyouts.",0.4203916192054748,"Strong international leisure travel demand continues to outshine domestic demand, Leskinen added.","Government travel ""has fallen off here post-inauguration,"" United's Chief Financial Officer Mike Leskinen said at a Barclays industry conference on Wednesday, referring to the start of President Donald Trump's term last month.",2025-02-23
Carvana expects another 'strong' year after topping fourth-quarter expectations,https://www.cnbc.com/2025/02/19/carvana-cvna-earnings-q4-2024.html,2025-02-20T14:45:04+0000,"In this articleCarvana topped Wall Street's top- and bottom-line expectations for the fourth quarter while guiding for another ""strong"" year in 2025.Carvana, as it has in the past, gave a broad guidance outlook for this year that includes growth in both retail units sold and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, including sequential increases in both during the first quarter.Shares of Carvana fell more than 10% during after-hours trading Wednesday. The stock closed at $281.82, down roughly 1%. Wall Street analysts largely attributed the drop to high investor expectations and the vague forecast for 2025.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Revenue of $3.55 billion was up 46% from $2.42 billion in the prior-year period. Full-year 2024 revenue came in at $13.67 billion, up almost 27% from $10.77 billion in 2023.For 2024, the Tempe, Arizona-based company reported adjusted EBITDA of $1.38 billion and net income of roughly $404 million. That includes adjusted EBITDA of $359 million and net income of $159 million during the fourth quarter. Fourth-quarter net income marks major improvement from a loss of $200 million in the same period a year earlier.On a per-share basis, the company reported earnings of 56 cents for the December period, compared with a loss of $1 per share during the same quarter in 2023.Both the yearly and quarterly results were records for Carvana.Carvana said it sold 416,348 retail vehicles last year, up roughly 33% from the year before, for record total annual revenue of $13.67 billion in 2024. Its total gross profit per unit for the fourth quarter and full year was $6,671 and $6,908, respectively. Both metrics were up nearly $1,400 from 2023.""With just ~1% market share today and many opportunities to improve and expand our offering from here, we know this is just the beginning of our journey to change the way people buy and sell cars,"" Carvana CEO and co-founder Ernie Garcia said in a news release.Shares of Carvana are up roughly 40% in 2025, adding to last year's nearly 285% gain.",CNBC,20/02/2025,"['In this articleCarvana topped Wall Street\'s top- and bottom-line expectations for the fourth quarter while guiding for another ""strong"" year in 2025.Carvana, as it has in the past, gave a broad guidance outlook for this year that includes growth in both retail units sold and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, including sequential increases in both during the first quarter.', 'Shares of Carvana fell more than 10% during after-hours trading Wednesday.', 'The stock closed at $281.82, down roughly 1%.', ""Wall Street analysts largely attributed the drop to high investor expectations and the vague forecast for 2025.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Revenue of $3.55 billion was up 46% from $2.42 billion in the prior-year period."", 'Full-year 2024 revenue came in at $13.67 billion, up almost 27% from $10.77 billion in 2023.For 2024, the Tempe, Arizona-based company reported adjusted EBITDA of $1.38 billion and net income of roughly $404 million.', 'That includes adjusted EBITDA of $359 million and net income of $159 million during the fourth quarter.', 'Fourth-quarter net income marks major improvement from a loss of $200 million in the same period a year earlier.', 'On a per-share basis, the company reported earnings of 56 cents for the December period, compared with a loss of $1 per share during the same quarter in 2023.Both the yearly and quarterly results were records for Carvana.', 'Carvana said it sold 416,348 retail vehicles last year, up roughly 33% from the year before, for record total annual revenue of $13.67 billion in 2024.', 'Its total gross profit per unit for the fourth quarter and full year was $6,671 and $6,908, respectively.', 'Both metrics were up nearly $1,400 from 2023.""With just ~1% market share today and many opportunities to improve and expand our offering from here, we know this is just the beginning of our journey to change the way people buy and sell cars,"" Carvana CEO and co-founder Ernie Garcia said in a news release.', ""Shares of Carvana are up roughly 40% in 2025, adding to last year's nearly 285% gain.""]",0.2607568984639571,"In this articleCarvana topped Wall Street's top- and bottom-line expectations for the fourth quarter while guiding for another ""strong"" year in 2025.Carvana, as it has in the past, gave a broad guidance outlook for this year that includes growth in both retail units sold and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, including sequential increases in both during the first quarter.","Wall Street analysts largely attributed the drop to high investor expectations and the vague forecast for 2025.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Revenue of $3.55 billion was up 46% from $2.42 billion in the prior-year period.",0.6003282845020295,"Full-year 2024 revenue came in at $13.67 billion, up almost 27% from $10.77 billion in 2023.For 2024, the Tempe, Arizona-based company reported adjusted EBITDA of $1.38 billion and net income of roughly $404 million.",Shares of Carvana fell more than 10% during after-hours trading Wednesday.,2025-02-23
"Hims & Hers to offer at-home blood draws, lean into 'peptide innovations' with new acquisitions",https://www.cnbc.com/2025/02/19/hims-hers-to-offer-at-home-blood-draws-lab-testing-with-trybe-deal.html,2025-02-21T15:34:46+0000,"In this articleHims & Hers Health announced Wednesday it has acquired New Jersey-based at-home lab testing facility Trybe Labs.The deal will allow the telehealth company to offer at-home blood draws and more comprehensive pretreatment testing to its users.""Access to richer data allows us to deepen the insights that providers can use on our platform to guide their clinical decisions for each individual patient,"" said Dr. Patrick Carroll, Hims & Hers chief medical officer.""At-home lab testing is one more exciting step towards elevating the personal, comprehensive care customers in this country should expect,"" Dr. Carroll added.Hims & Hers did not disclose terms of the deal, but said it funded it through cash on hand. The company told CNBC it will share pricing for the new testing options when the offering is made available to customers over the next year.The acquisition by Hims & Hers will offer competition to blood-drawing services such as Labcorp and Quest Diagnostics.The startup is expanding its services less than one year after it started offering compounded GLP-1 weight loss drugs. As Hims & Hers casts itself as a cheaper alternative to established companies, it recently took aim at the pharmaceutical industry in a Super Bowl ad, saying the industry is ""priced for profits, not patients.""""The health care that customers expect and deserve today is on-demand care with treatments designed specifically for them,"" said Dr. Carroll.On Friday, the company separately announced it has acquired a U.S.-based peptide facility in California as part of its latest expansion of that domestic supply chain.""A lot of peptide demand is future facing innovation,"" Andrew Dudum, Hims & Hers Health CEO told CNBC Friday following that announcement. ""So many use cases have yet to be launched,"" he added.The acquisition follows previous purchases of drug manufacturing facilities in Ohio and Arizona over the last six years.While Hims did not disclosure the international exposure of its supply chain, Dudum did emphasize this deal comes at a time when the Trump administration is cracking down on the broader pharmaceutical industry's reliance on overseas production.Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community. Secretary of Health and Human Services Robert F. Kennedy Jr. has vocalized support for the treatment as alternative medicine, saying it has been under ""aggressive suppression"" by the Food and Drug Administration like other alternatives like psychedelics, stem cells and raw milk.However, the excitement surrounding peptide innovations have limited scientific evidence supporting their long-term benefits.Dudum said the acquisition will allow his company to explore areas including recovery science, preventative health and rejuvenation.""Peptide innovation is at the forefront of so many categories we're excited to start offering,"" said Dudum.Hims & Hers' acquisition of Trybe Labs will add testing capabilities for LDL cholesterol, lipoprotein(a), cholesterol and apolipoprotein, the company said. It will also expand the company's ability to offer access to care and treatments across a range of conditions including low testosterone and perimenopausal and menopausal support.Hims & Hers users will be given a blood lancet provided by home diagnostic testing company Tasso. The lancet is a single-use device that collects whole liquid blood samples and is cleared for premarket use by the FDA.Users attach the device to their upper arm and press a button that triggers the lancet to prick the skin and draw a small amount of blood collected in a microtube.Providers on the platform will use the information collected as part of determining a treatment plan for patients.Hims & Hers said it will use data from the blood work — with patient identities removed — to accelerate its development of artificial intelligence-powered health care.Clarification: This story was updated to reflect that the new testing services will aid the company's perimenopausal care.",CNBC,21/02/2025,"['In this articleHims & Hers Health announced Wednesday it has acquired New Jersey-based at-home lab testing facility Trybe Labs.', 'The deal will allow the telehealth company to offer at-home blood draws and more comprehensive pretreatment testing to its users.', '""Access to richer data allows us to deepen the insights that providers can use on our platform to guide their clinical decisions for each individual patient,"" said Dr. Patrick Carroll, Hims & Hers chief medical officer.', '""At-home lab testing is one more exciting step towards elevating the personal, comprehensive care customers in this country should expect,"" Dr. Carroll added.', 'Hims & Hers did not disclose terms of the deal, but said it funded it through cash on hand.', 'The company told CNBC it will share pricing for the new testing options when the offering is made available to customers over the next year.', 'The acquisition by Hims & Hers will offer competition to blood-drawing services such as Labcorp and Quest Diagnostics.', 'The startup is expanding its services less than one year after it started offering compounded GLP-1 weight loss drugs.', 'As Hims & Hers casts itself as a cheaper alternative to established companies, it recently took aim at the pharmaceutical industry in a Super Bowl ad, saying the industry is ""priced for profits, not patients.', '""""The health care that customers expect and deserve today is on-demand care with treatments designed specifically for them,"" said Dr. Carroll.', 'On Friday, the company separately announced it has acquired a U.S.-based peptide facility in California as part of its latest expansion of that domestic supply chain.', '""A lot of peptide demand is future facing innovation,"" Andrew Dudum, Hims & Hers Health CEO told CNBC Friday following that announcement. ""', 'So many use cases have yet to be launched,"" he added.', 'The acquisition follows previous purchases of drug manufacturing facilities in Ohio and Arizona over the last six years.', ""While Hims did not disclosure the international exposure of its supply chain, Dudum did emphasize this deal comes at a time when the Trump administration is cracking down on the broader pharmaceutical industry's reliance on overseas production."", 'Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community.', 'Secretary of Health and Human Services Robert F. Kennedy Jr. has vocalized support for the treatment as alternative medicine, saying it has been under ""aggressive suppression"" by the Food and Drug Administration like other alternatives like psychedelics, stem cells and raw milk.', 'However, the excitement surrounding peptide innovations have limited scientific evidence supporting their long-term benefits.', 'Dudum said the acquisition will allow his company to explore areas including recovery science, preventative health and rejuvenation.', '""Peptide innovation is at the forefront of so many categories we\'re excited to start offering,"" said Dudum.', ""Hims & Hers' acquisition of Trybe Labs will add testing capabilities for LDL cholesterol, lipoprotein(a), cholesterol and apolipoprotein, the company said."", ""It will also expand the company's ability to offer access to care and treatments across a range of conditions including low testosterone and perimenopausal and menopausal support."", 'Hims & Hers users will be given a blood lancet provided by home diagnostic testing company Tasso.', 'The lancet is a single-use device that collects whole liquid blood samples and is cleared for premarket use by the FDA.Users attach the device to their upper arm and press a button that triggers the lancet to prick the skin and draw a small amount of blood collected in a microtube.', 'Providers on the platform will use the information collected as part of determining a treatment plan for patients.', 'Hims & Hers saidit will use data from the blood work — with patient identities removed — to accelerate its development of artificial intelligence-powered health care.', ""Clarification: This story was updated to reflect that the new testing services will aid the company's perimenopausal care.""]",0.3473721825483231,"Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community.",The startup is expanding its services less than one year after it started offering compounded GLP-1 weight loss drugs.,0.7281141936779022,"Peptide therapy has gained popularity in recent years, particularly within the fitness and wellness community.","However, the excitement surrounding peptide innovations have limited scientific evidence supporting their long-term benefits.",2025-02-23
"Trump is 'not happy' with Boeing over Air Force One delays, but airlines are growing upbeat",https://www.cnbc.com/2025/02/20/trump-boeing-air-force-one-delays.html,2025-02-20T18:12:17+0000,"In this articlePresident Donald Trump expressed frustration in recent days about the long wait for a pair of Boeing 747s that will serve as the new Air Force One planes.The jets are years behind schedule. Trump negotiated the $4 billion contract for the aircraft during his first term, and it isn't clear whether they'll be ready during his current one. Cost overruns have totaled more than $2 billion to date.Trump advisor Elon Musk is working with Boeing in hopes of delivering the aircraft faster, the manufacturer's chief executive, Kelly Ortberg, reiterated on Thursday.""The president's clearly not happy with the delivery timing. I think he's made that well known,"" Ortberg said at a Barclays industrials conference. ""Elon Musk is actually helping us a lot in working through the requirements ... to help us get the things that are non-value-added constraints out of the way so that we can move faster and get the president those airplanes delivered.""Ortberg called Musk, CEO of SpaceX, which competes with Boeing's defense and space unit, a ""brilliant guy"" who can ""pretty quickly ascertain the difference between technical requirement and things that we can move out of the way.""Aboard one of the current presidential 747s, Trump told reporters on Wednesday that he is considering alternatives.""We may buy a plane or get a plane, or something,"" he said, according to Reuters. Trump toured a 747 that was parked at Florida's Palm Beach International Airport over the weekend, the outlet reported.The White House didn't immediately respond to a request for comment.Frustration is nothing new for Boeing's airline customers who faced long delays for aircraft just as the post-pandemic travel boom was taking hold. A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.Now some customers are growing more upbeat. Executives told CNBC that it appears the manufacturer has turned a corner under Ortberg, who took the helm in August.""Boeing is doing a pretty miraculous job of turning around and becoming more reliable as a supplier,"" United Airlines CFO Mike Leskinen said Wednesday at the same Barclays conference. ""Our confidence that our MAX aircraft are going to be delivered on schedule has never been greater at my tenure at United Airlines.""Bob Jordan, CEO of all-Boeing 737 carrier Southwest Airlines, said on a Jan. 30 earnings call: ""While they still have much work to do, they appear to be on a good path, and we are feeling more optimistic.""Speaking at the Barclays conference on Thursday, Boeing's Ortberg said he doesn't see any supply chain problems that would prevent the manufacturer from ramping up production of its cash-cow 737 Max planes, its bestseller, to 38 per month in the coming months.",CNBC,20/02/2025,"['In this articlePresident Donald Trump expressed frustration in recent days about the long wait for a pair of Boeing 747s that will serve as the new Air Force One planes.', 'The jets are years behind schedule.', ""Trump negotiated the $4 billion contract for the aircraft during his first term, and it isn't clear whether they'll be ready during his current one."", 'Cost overruns have totaled more than $2 billion to date.', ""Trump advisor Elon Musk is working with Boeing in hopes of delivering the aircraft faster, the manufacturer's chief executive, Kelly Ortberg, reiterated on Thursday."", '""The president\'s clearly not happy with the delivery timing.', 'I think he\'s made that well known,"" Ortberg said at a Barclays industrials conference. ""', 'Elon Musk is actually helping us a lot in working through the requirements ... to help us get the things that are non-value-added constraints out of the way so that we can move faster and get the president those airplanes delivered.', '""Ortberg called Musk, CEO of SpaceX, which competes with Boeing\'s defense and space unit, a ""brilliant guy"" who can ""pretty quickly ascertain the difference between technical requirement and things that we can move out of the way.', '""Aboard one of the current presidential 747s, Trump told reporters on Wednesday that he is considering alternatives.', '""We may buy a plane or get a plane, or something,"" he said, according to Reuters.', ""Trump toured a 747 that was parked at Florida's Palm Beach International Airport over the weekend, the outlet reported."", ""The White House didn't immediately respond to a request for comment."", ""Frustration is nothing new for Boeing's airline customers who faced long delays for aircraft just as the post-pandemic travel boom was taking hold."", 'A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.', 'Now some customers are growing more upbeat.', 'Executives told CNBC that it appears the manufacturer has turned a corner under Ortberg, who took the helm in August.', '""Boeing is doing a pretty miraculous job of turning around and becoming more reliable as a supplier,"" United Airlines CFO Mike Leskinen said Wednesday at the same Barclays conference. ""', 'Our confidence that our MAX aircraft are going to be delivered on schedule has never been greater at my tenure at United Airlines.', '""Bob Jordan, CEO of all-Boeing 737 carrier Southwest Airlines, said on a Jan. 30 earnings call: ""While they still have much work to do, they appear to be on a good path, and we are feeling more optimistic.', '""Speaking at the Barclays conference on Thursday, Boeing\'s Ortberg said he doesn\'t see any supply chain problems that would prevent the manufacturer from ramping up production of its cash-cow 737 Max planes, its bestseller, to 38 per month in the coming months.']",0.1535934301979182,"""Ortberg called Musk, CEO of SpaceX, which competes with Boeing's defense and space unit, a ""brilliant guy"" who can ""pretty quickly ascertain the difference between technical requirement and things that we can move out of the way.",A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.,0.0731367606383103,"""Boeing is doing a pretty miraculous job of turning around and becoming more reliable as a supplier,"" United Airlines CFO Mike Leskinen said Wednesday at the same Barclays conference. """,A near-catastrophic door-plug blow out in January 2024 further slowed Boeing deliveries and prompted a leadership change.,2025-02-23
U.S. homebuilders raise alarm over tariffs as sentiment falls to 5-month low,https://www.cnbc.com/2025/02/18/homebuilder-sentiment-falls-in-february-amid-tariff-worries.html,2025-02-18T19:15:26+0000,"Sentiment among the nation's single-family homebuilders dropped to the lowest level in five months in February, largely due to concern over tariffs, which would raise their costs significantly.The National Association of Home Builders' Housing Market Index, or HMI, dropped a sharp 5 points from January to a reading of 42. Anything below 50 is considered negative sentiment. Last February, the index stood at 48.""While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations in the most recent HMI,"" said NAHB Chairman Carl Harris, a homebuilder from Wichita, Kansas.Of the index's three components, current sales conditions fell 4 points to 46, buyer traffic fell 3 points to 29 and sales expectations in the next six months plunged 13 points to 46. That last component hit its lowest level since December 2023.Builders are already facing elevated mortgage rates. The average on the 30-year fixed mortgage rate was above 7% for January and February after earlier being in the 6% range. Home prices are also higher than they were a year ago, weakening affordability further.While President Donald Trump's tariffs on Canada and Mexico, originally proposed to take effect in early February, were delayed roughly a month, builders are still expecting higher costs.""With 32% of appliances and 30% of softwood lumber coming from international trade, uncertainty over the scale and scope of tariffs has builders further concerned about costs,"" said NAHB chief economist Robert Dietz.Homebuilder sentiment had been gaining steadily since August on the expectation of lower mortgage rates and, as the builders noted, potential pro-development policies. Single-family housing starts are trending lower than they were a year ago, despite a lean supply of existing homes for sale.The drop in builder sentiment, coming right before the all-important spring market, signals potentially even less supply in the market. Several homebuilders have noted the pullback in buyer demand in recent earnings reports.""Despite Federal Reserve actions to lower short-term interest rates, mortgage interest rates remained elevated in the fourth quarter, which impacted buyer demand as homebuyers continue to face affordability challenges,"" said Ryan Marshall, CEO of PulteGroup, in its fourth-quarter earnings release.The share of builders lowering prices dropped to 26% in February, down from 30% in January and the lowest share since May 2024. Other sales incentives also fell.This may be because incentives are becoming less effective at attracting buyers, since high prices and high rates have reduced the pool of buyers for whom these benefits move the needle, according to the NAHB.When a buyer is solidly priced out, no incentive helps, and with rates remaining higher, the pool of marginal buyers may be shrinking. Offering incentives to buyers who would buy regardless of price or rates is of diminishing value for builders.",CNBC,18/02/2025,"[""Sentiment among the nation's single-family homebuilders dropped to the lowest level in five months in February, largely due to concern over tariffs, which would raise their costs significantly."", ""The National Association of Home Builders' Housing Market Index, or HMI, dropped a sharp 5 points from January to a reading of 42."", 'Anything below 50 is considered negative sentiment.', 'Last February, the index stood at 48.""While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations in the most recent HMI,"" said NAHB Chairman Carl Harris, a homebuilder from Wichita, Kansas.', ""Of the index's three components, current sales conditions fell 4 points to 46, buyer traffic fell 3 points to 29 and sales expectations in the next six months plunged 13 points to 46."", 'That last component hit its lowest level since December 2023.Builders are already facing elevated mortgage rates.', 'The average on the 30-year fixed mortgage rate was above 7% for January and February after earlier being in the 6% range.', 'Home prices are also higher than they were a year ago, weakening affordability further.', ""While President Donald Trump's tariffs on Canada and Mexico, originally proposed to take effect in early February, were delayed roughly a month, builders are still expecting higher costs."", '""With 32% of appliances and 30% of softwood lumber coming from international trade, uncertainty over the scale and scope of tariffs has builders further concerned about costs,"" said NAHB chief economist Robert Dietz.', 'Homebuilder sentiment had been gaining steadily since August on the expectation of lower mortgage rates and, as the builders noted, potential pro-development policies.', 'Single-family housing starts are trending lower than they were a year ago, despite a lean supply of existing homes for sale.', 'The drop in builder sentiment, coming right before the all-important spring market, signals potentially even less supply in the market.', 'Several homebuilders have noted the pullback in buyer demand in recent earnings reports.', '""Despite Federal Reserve actions to lower short-term interest rates, mortgage interest rates remained elevated in the fourth quarter, which impacted buyer demand as homebuyers continue to face affordability challenges,"" said Ryan Marshall, CEO of PulteGroup, in its fourth-quarter earnings release.', 'The share of builders lowering prices dropped to 26% in February, down from 30% in January and the lowest share since May 2024.', 'Other sales incentives also fell.', 'This may be because incentives are becoming less effective at attracting buyers, since high prices and high rates have reduced the pool of buyers for whom these benefits move the needle, according to the NAHB.When a buyer is solidly priced out, no incentive helps, and with rates remaining higher, the pool of marginal buyers may be shrinking.', 'Offering incentives to buyers who would buy regardless of price or rates is of diminishing value for builders.']",0.0051487963697403,"This may be because incentives are becoming less effective at attracting buyers, since high prices and high rates have reduced the pool of buyers for whom these benefits move the needle, according to the NAHB.When a buyer is solidly priced out, no incentive helps, and with rates remaining higher, the pool of marginal buyers may be shrinking.",Anything below 50 is considered negative sentiment.,-0.7755109270413717,"Homebuilder sentiment had been gaining steadily since August on the expectation of lower mortgage rates and, as the builders noted, potential pro-development policies.","The National Association of Home Builders' Housing Market Index, or HMI, dropped a sharp 5 points from January to a reading of 42.",2025-02-23
"Shortage of Novo Nordisk's Wegovy and Ozempic drugs is resolved, FDA says",https://www.cnbc.com/2025/02/21/fda-shortage-of-novo-nordisks-wegovy-and-ozempic-drugs-is-resolved.html,2025-02-21T20:57:12+0000,"In this articleThe long-running U.S. shortage of Novo Nordisk's blockbuster weight loss injection Wegovy and diabetes treatment Ozempic is resolved after more than two years, the U.S. Food and Drug Administration said Friday. The FDA's decision will threaten the ability of compounding pharmacies to make far cheaper, unbranded versions of the injections over the next few months. Many patients relied on unapproved versions of Wegovy and Ozempic since compounding pharmacies are allowed to make versions of branded medications in short supply. Novo Nordisk's stock closed about 5% higher on Friday. Meanwhile, shares of Hims & Hers, a telehealth company offering compounded Wegovy and Ozempic, fell more than 25%.The active ingredient in both of Novo Nordisk's injectable drugs, semaglutide, has been in shortage in the U.S. since 2022 after demand skyrocketed. That has forced Novo Nordisk and its rival Eli Lilly to invest heavily to expand their manufacturing footprints for their respective weight loss and diabetes drugs — and it may be paying off. The FDA determined that Novo Nordisk's supply and manufacturing capacity for semaglutide injections can now meet the current and projected demand in the U.S. Still, the agency noted that patients and prescribers may still see ""intermittent and limited localized supply disruptions"" as products move through the supply chain to pharmacies. ""We are pleased the FDA has declared that supply of the only real, FDA-approved semaglutide medicines is resolved,"" Dave Moore, Novo Nordisk's executive vice president of U.S. operations and global business development, said in a statement.He added that ""no one should have to compromise their health due to misinformation and reach for fake or illegitimate knockoff drugs that pose significant safety risks to patients.""The FDA's announcement comes just months after the agency declared the shortage of tirzepatide — the active ingredient in Eli Lilly's weight loss injection Zepbound and diabetes counterpart Mounjaro — was over. The FDA's decision on Friday could better position Novo Nordisk to compete with Eli Lilly in the booming weight loss drug market, which some analysts say could be worth more than $150 billion annually after 2030. The agency's decision, based on a comprehensive analysis, essentially marks the end of a period where compounding pharmacies could make, distribute or dispense unapproved versions of semaglutide without facing repercussions for violations related to the treatment's shortage status.Compounding pharmacies must stop making compounded versions of semaglutide in the next 60 to 90 days, depending on the type of facility, the agency said. That transition period will likely give patients time to switch to the branded versions of the medications. But, in compliance with FDA rules, compounders can still make alternative versions of the drugs if they modify doses, add other ingredients or change the method of giving the treatment to meet a specific patient's needs. Some patients rely on compounded versions because they do not have insurance coverage for Novo Nordisk's drugs and cannot afford their hefty price tags of roughly $1,000 a month. While Ozempic is covered by most health plans, weight loss drugs such as Wegovy are not currently covered by Medicare and other insurance.",CNBC,21/02/2025,"[""In this articleThe long-running U.S. shortage of Novo Nordisk's blockbuster weight loss injection Wegovy and diabetes treatment Ozempic is resolved after more than two years, the U.S. Food and Drug Administration said Friday."", ""The FDA's decision will threaten the ability of compounding pharmacies to make far cheaper, unbranded versions of the injections over the next few months."", 'Many patients relied on unapproved versions of Wegovy and Ozempic since compounding pharmacies are allowed to make versions of branded medications in short supply.', ""Novo Nordisk's stock closed about 5% higher on Friday."", ""Meanwhile, shares of Hims & Hers, a telehealth company offering compounded Wegovy and Ozempic, fell more than 25%.The active ingredient in both of Novo Nordisk's injectable drugs, semaglutide, has been in shortage in the U.S. since 2022 after demand skyrocketed."", 'That has forced Novo Nordisk and its rival Eli Lilly to invest heavily to expand their manufacturing footprints for their respective weight loss and diabetes drugs — and it may be paying off.', 'The FDA determined that Novo Nordisk\'s supply and manufacturing capacity for semaglutide injections can now meet the current and projected demand in the U.S. Still, the agency noted that patients and prescribers may still see ""intermittent and limited localized supply disruptions"" as products move through the supply chain to pharmacies.', '""We are pleased the FDA has declared that supply of the only real, FDA-approved semaglutide medicines is resolved,"" Dave Moore, Novo Nordisk\'s executive vice president of U.S. operations and global business development, said in a statement.', 'He added that ""no one should have to compromise their health due to misinformation and reach for fake or illegitimateknockoff drugs that pose significantsafety risks to patients.', '""The FDA\'s announcement comes just months after the agency declared the shortage of tirzepatide — the active ingredient in Eli Lilly\'s weight loss injection Zepbound and diabetes counterpart Mounjaro — was over.', ""The FDA's decision on Friday could better position Novo Nordisk to compete with Eli Lilly in the booming weight loss drug market, which some analysts say could be worth more than $150 billion annually after 2030.The agency's decision, based on a comprehensive analysis, essentially marks the end of a period where compounding pharmacies could make, distribute or dispense unapproved versions of semaglutide without facing repercussions for violations related to the treatment's shortage status."", 'Compounding pharmacies must stop making compounded versions of semaglutide in the next 60 to 90 days, depending on the type of facility, the agency said.', 'That transition period will likely give patients time to switch to the branded versions of the medications.', ""But, in compliance with FDA rules, compounders can still make alternative versions of the drugs if they modify doses, add other ingredients or change the method of giving the treatment to meet a specific patient's needs."", ""Some patients rely on compounded versions because they do not have insurance coverage for Novo Nordisk's drugs and cannot afford their hefty price tags of roughly $1,000 a month."", 'While Ozempic is covered by most health plans, weight loss drugs such as Wegovy are not currently covered by Medicare and other insurance.']",-0.0605526260757713,"""We are pleased the FDA has declared that supply of the only real, FDA-approved semaglutide medicines is resolved,"" Dave Moore, Novo Nordisk's executive vice president of U.S. operations and global business development, said in a statement.","He added that ""no one should have to compromise their health due to misinformation and reach for fake or illegitimateknockoff drugs that pose significantsafety risks to patients.",0.1456703941027323,That has forced Novo Nordisk and its rival Eli Lilly to invest heavily to expand their manufacturing footprints for their respective weight loss and diabetes drugs — and it may be paying off.,"Meanwhile, shares of Hims & Hers, a telehealth company offering compounded Wegovy and Ozempic, fell more than 25%.The active ingredient in both of Novo Nordisk's injectable drugs, semaglutide, has been in shortage in the U.S. since 2022 after demand skyrocketed.",2025-02-23
Aviation industry urges Congress to approve emergency air traffic control funding,https://www.cnbc.com/2025/02/19/aviation-groups-urge-congress-for-emergency-air-traffic-control-funds.html,2025-02-19T18:07:54+0000,"The U.S. aviation industry on Wednesday urged Congress to approve ""robust emergency funding"" for air traffic control technology and staffing.Three weeks after a deadly midair collision near Washington, D.C., marked the worst air disaster in the U.S. since 2001, groups representing industry heavyweights like Boeing, major U.S. airlines, private aviation and a host of labor unions wrote to lawmakers calling for urgent funding and improvements to U.S. airspace.They also said the Federal Aviation Administration should be exempt from government shutdowns ""to ensure a predictable funding stream to ensure continued safety and air traffic control personnel hiring and training.""A 2019 government shutdown left federal workers without pay for several weeks, including air traffic controllers and airport screeners. That shutdown ended hours after staffing shortages snarled flights at several major U.S. airports.",CNBC,19/02/2025,"['The U.S. aviation industry on Wednesday urged Congress to approve ""robust emergency funding"" for air traffic control technology and staffing.', 'Three weeks after a deadly midair collision near Washington, D.C., marked the worst air disaster in the U.S. since 2001, groups representing industry heavyweights like Boeing, major U.S. airlines, private aviation and a host of labor unions wrote to lawmakers calling for urgent funding and improvements to U.S. airspace.', 'They also said the Federal Aviation Administration should be exempt from government shutdowns ""to ensure a predictable funding stream to ensure continued safety and air traffic control personnel hiring and training.', '""A 2019 government shutdown left federal workers without pay for several weeks, including air traffic controllers and airport screeners.', 'That shutdown ended hours after staffing shortages snarled flights at several major U.S. airports.']",-0.0085601619390845,"They also said the Federal Aviation Administration should be exempt from government shutdowns ""to ensure a predictable funding stream to ensure continued safety and air traffic control personnel hiring and training.","Three weeks after a deadly midair collision near Washington, D.C., marked the worst air disaster in the U.S. since 2001, groups representing industry heavyweights like Boeing, major U.S. airlines, private aviation and a host of labor unions wrote to lawmakers calling for urgent funding and improvements to U.S. airspace.",-0.3174776832262675,"The U.S. aviation industry on Wednesday urged Congress to approve ""robust emergency funding"" for air traffic control technology and staffing.",That shutdown ended hours after staffing shortages snarled flights at several major U.S. airports.,2025-02-23
Home sales drop sharply as prices hit an all-time high for January,https://www.cnbc.com/2025/02/21/january-home-sales-drop-sharply-as-prices-hit-high.html,2025-02-21T16:35:31+0000,"The U.S. housing market continues to weaken, as potential buyers face stubbornly high mortgage rates, elevated prices and limited supply of listings.Sales of previously owned homes fell 4.9% in January from the prior month to 4.08 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Analysts were expecting a 2.6% decline.Sales were 2% higher than January 2024, but are still running at a roughly 15-year low.This read is based on closings, so contracts likely signed in November and December when mortgage rates came down from over 7% to the 6% range.""Mortgage rates have refused to budge for several months despite multiple rounds of short-term interest rate cuts by the Federal Reserve,"" said Lawrence Yun, chief economist for the NAR. ""When combined with elevated home prices, housing affordability remains a major challenge.""There were 1.18 million homes for sale at the end of January, an increase of 3.5% from December and 17% from January 2024. Although inventory is gaining, it is still at a 3.5-month supply at the current sales pace. A six-month supply is considered balanced between buyer and seller.The average home for sale last month spent 41 days on the market. That is the longest since January 2020, pre-Covid.Tight supply continues to pressure prices. The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January. All four regions tracked by NAR saw price gains. About 15% of homes sold above list price, virtually unchanged from 16% in both the pervious month and the year-earlier period.""More housing supply allows strongly qualified buyers to enter the market,"" Yun added. ""But for many consumers, both increased inventory and lower mortgage rates are necessary for them to purchase a different home or become first-time homeowners.""All-cash offers made up 29% of sales, which is historically high but down from 32% the year before. First-time buyers are still struggling, accounting for 28% of sales. That share is unchanged from a year ago, but is well below historical averages of about 40%.Home sales are faring significantly better at higher price points and falling at lower price points. For example, sales of homes priced between $100,000 and $250,000 dropped 1.2% year over year, while homes priced over $1 million rose nearly 27% from the year before.Realtors are reporting that buyer traffic in January was weak.""Realtors are putting more signs up, but the buyers are not coming,"" said Yun.",CNBC,21/02/2025,"['The U.S. housing market continues to weaken, as potential buyers face stubbornly high mortgage rates, elevated prices and limited supply of listings.', 'Sales of previously owned homes fell 4.9% in January from the prior month to 4.08 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.', 'Analysts were expecting a 2.6% decline.', 'Sales were 2% higher than January 2024, but are still running at a roughly 15-year low.', 'This read is based on closings, so contracts likely signed in November and December when mortgage rates came down from over 7% to the 6% range.', '""Mortgage rates have refused to budge for several months despite multiple rounds of short-term interest rate cuts by the Federal Reserve,"" said Lawrence Yun, chief economist for the NAR. ""', 'When combined with elevated home prices, housing affordability remains a major challenge.', '""There were 1.18 million homes for sale at the end of January, an increase of 3.5% from December and 17% from January 2024.', 'Although inventory is gaining, it is still at a 3.5-month supply at the current sales pace.', 'A six-month supply is considered balanced between buyer and seller.', 'The average home for sale last month spent 41 days on the market.', 'That is the longest since January 2020, pre-Covid.', 'Tight supply continues to pressure prices.', 'The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January.', 'All four regions tracked by NAR saw price gains.', 'About 15% of homes sold above list price, virtually unchanged from 16% in both the pervious month and the year-earlier period.', '""More housing supply allows strongly qualified buyers to enter the market,"" Yun added. ""', 'But for many consumers, both increased inventory and lower mortgage rates are necessary for them to purchase a different home or become first-time homeowners.', '""All-cash offers made up 29% of sales, which is historically high but down from 32% the year before.', 'First-time buyers are still struggling, accounting for 28% of sales.', 'That share is unchanged from a year ago, but is well below historical averages of about 40%.Home sales are faring significantly better at higher price points and falling at lower price points.', 'For example, sales of homes priced between $100,000 and $250,000 dropped 1.2% year over year, while homes priced over $1 million rose nearly 27% from the year before.', 'Realtors are reporting that buyer traffic in January was weak.', '""Realtors are putting more signs up, but the buyers are not coming,"" said Yun.']",-0.0161353952590391,"That share is unchanged from a year ago, but is well below historical averages of about 40%.Home sales are faring significantly better at higher price points and falling at lower price points.","The U.S. housing market continues to weaken, as potential buyers face stubbornly high mortgage rates, elevated prices and limited supply of listings.",-0.2006452977657318,"The median price of a home sold in January was $396,900, up 4.8% from the year before and the highest price ever for the month of January.","Sales of previously owned homes fell 4.9% in January from the prior month to 4.08 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors.",2025-02-23
Hasbro says it's taking steps to offset China tariff effects,https://www.cnbc.com/2025/02/20/hasbro-has-earnings-q4-2024.html,2025-02-20T17:39:48+0000,"In this articleToy and gaming giant Hasbro took an optimistic tone Thursday on the potential effect of Chinese tariffs on its business, as executives said the company is shifting manufacturing away from China.Hasbro Chief Financial Officer Gina Goetter said on the company's fourth-quarter earnings call that the toymaker's 2025 guidance — which includes adjusted EBITDA of $1.1 billion to $1.15 billion, compared with $1.06 billion in 2024 — reflects the anticipated effect of U.S. tariffs on China, Mexico and Canada. It also reflects ""mitigating actions we plan to take, including leveraging the strength of our supply chain and potential pricing,"" the company said in a news release.Rival toymaker Mattel previously said it could increase the prices of toys such as Hot Wheels and Barbie in response to tariffs. President Donald Trump imposed 10% tariffs on China in early February and is set to add 25% tariffs on Mexico and Canada in March after pausing their initial implementation for 30 days.Hasbro is on track to cut the volume of U.S. toys and games that originate from China from 50% to less than 40% over the next two years, Goetter said. Hasbro does not source from Canada and has ""minimal"" imports from Mexico, she said.""Really, it's a China story for us,"" Goetter said.Hasbro CEO Chris Cocks said on the call that even when accounting for tariffs, the toymaker expects ""flattish"" performance from the broader industry this year, with trading cards and building blocks leading the way. The company's licensing business, he added, is one of its biggest margin drivers and will not be affected much by tariffs.""It's relatively [unexposed] to some of the tariff drama that's going on right now,"" Cocks said.Hasbro also on Thursday announced a licensing collaboration with Mattel to create Play-Doh versions of Mattel's Barbie dolls.""Play-Doh Barbie allows children to unlock their inner fashion designer, creating Play-Doh fashions with amazing ruffles, bows and realistic fabric textures, all made with every kid's favorite dough for a never-before-seen creativity experience,"" Cocks said.Shares of Hasbro gained roughly 10% in morning trading Thursday.Here's how Hasbro performed in the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Fourth-quarter revenue fell 15% from $1.29 billion during the same quarter in 2023. Full-year 2024 revenue came in at $4.14 billion, down 17% from $5 billion in 2023.The company partially attributed the numbers to its divestiture from its eOne film and TV business, which it sold to Lionsgate in December 2023. When excluding the divestiture, the company said, full-year revenue declined 7%.Hasbro's digital and licensed gaming revenue increased 35% to $132 million in the fourth quarter compared to the same period in 2023. For full-year 2024, Hasbro's digital and licensed gaming revenue increased 22% to $471.7 million. Mobile game Monopoly Go! contributed $112 million in 2024 revenue.Hasbro reported a net loss for the fourth quarter of $26.5 million, or a loss of 25 cents per share, compared with a net loss of $1.06 billion, or a loss of $7.64 per share, during the fourth quarter of 2023.Adjusting for costs associated with restructuring and the eOne divestiture, among other one-time items, Hasbro reported fourth-quarter earnings of 46 cents per share, topping Wall Street expectations.",CNBC,20/02/2025,"['In this articleToy and gaming giant Hasbro took an optimistic tone Thursday on the potential effect of Chinese tariffs on its business, as executives said the company is shifting manufacturing away from China.', ""Hasbro Chief Financial Officer Gina Goetter said on the company's fourth-quarter earnings call that the toymaker's 2025 guidance — which includes adjusted EBITDA of $1.1 billion to $1.15 billion, compared with $1.06 billion in 2024 — reflects the anticipated effect of U.S. tariffs on China, Mexico and Canada."", 'It also reflects ""mitigating actions we plan to take, including leveraging the strength of our supply chain and potential pricing,"" the company said in a news release.', 'Rival toymaker Mattel previously said it could increase the prices of toys such as Hot Wheels and Barbie in response to tariffs.', 'President Donald Trump imposed 10% tariffs on China in early February and is set to add 25% tariffs on Mexico and Canada in March after pausing their initial implementation for 30 days.', 'Hasbro is on track to cut the volume of U.S. toys and games that originate from China from 50% to less than 40% over the next two years, Goetter said.', 'Hasbro does not source from Canada and has ""minimal"" imports from Mexico, she said.', '""Really, it\'s a China story for us,"" Goetter said.', 'Hasbro CEO Chris Cocks said on the call that even when accounting for tariffs, the toymaker expects ""flattish"" performance from the broader industry this year, with trading cards and building blocks leading the way.', ""The company's licensing business, he added, is one of its biggest margin drivers and will not be affected much by tariffs."", '""It\'s relatively [unexposed] to some of the tariff drama that\'s going on right now,"" Cocks said.', ""Hasbro also on Thursday announced a licensing collaboration with Mattel to create Play-Doh versions of Mattel's Barbie dolls."", '""Play-Doh Barbie allows children to unlock their inner fashion designer, creating Play-Doh fashions with amazing ruffles, bows and realistic fabric textures, all made with every kid\'s favorite dough for a never-before-seen creativity experience,"" Cocks said.', 'Shares of Hasbro gained roughly 10% in morning trading Thursday.', ""Here's how Hasbro performed in the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Fourth-quarter revenue fell 15% from $1.29 billion during the same quarter in 2023."", 'Full-year 2024 revenue came in at $4.14 billion, down 17% from $5 billion in 2023.The company partially attributed the numbers to its divestiture from its eOne film and TV business, which it sold to Lionsgate in December 2023.', ""When excluding the divestiture, the company said, full-year revenue declined 7%.Hasbro's digital and licensed gaming revenue increased 35% to $132 million in the fourth quarter compared to the same period in 2023."", ""For full-year 2024, Hasbro's digital and licensed gaming revenue increased 22% to $471.7 million."", 'Mobile game Monopoly Go!', 'contributed $112 million in 2024 revenue.', 'Hasbro reported a net loss for the fourth quarter of $26.5 million, or a loss of 25 cents per share, compared with a net loss of $1.06 billion, or a loss of $7.64 per share, during the fourth quarter of 2023.Adjusting for costs associated with restructuring and the eOne divestiture, among other one-time items, Hasbro reported fourth-quarter earnings of 46 cents per share, topping Wall Street expectations.']",0.1379706357423414,"""Play-Doh Barbie allows children to unlock their inner fashion designer, creating Play-Doh fashions with amazing ruffles, bows and realistic fabric textures, all made with every kid's favorite dough for a never-before-seen creativity experience,"" Cocks said.","Hasbro reported a net loss for the fourth quarter of $26.5 million, or a loss of 25 cents per share, compared with a net loss of $1.06 billion, or a loss of $7.64 per share, during the fourth quarter of 2023.Adjusting for costs associated with restructuring and the eOne divestiture, among other one-time items, Hasbro reported fourth-quarter earnings of 46 cents per share, topping Wall Street expectations.",0.3427503475776085,"For full-year 2024, Hasbro's digital and licensed gaming revenue increased 22% to $471.7 million.","Here's how Hasbro performed in the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Fourth-quarter revenue fell 15% from $1.29 billion during the same quarter in 2023.",2025-02-23
"IMAX CEO expects $1.2 billion in box office receipts this year, the best in the company's history",https://www.cnbc.com/2025/02/21/imax-ceo-2025-box-office-receipt-expectations.html,2025-02-21T16:42:31+0000,"In this articleAn ""embarrassment of riches"" at the box office could fuel a $1.2 billion year for IMAX, CEO Rich Gelfond told CNBC on Friday.That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.""I think it's going to be a very strong year,"" Gelfond said in an interview with CNBC's ""Squawk on the Street."" ""The first thing that drives that is the slate.""Gelfond pointed to several blockbuster titles slated for release in the next 10 months, including a new ""Mission Impossible,"" a live-action ""How to Train Your Dragon"" film, another ""Jurassic Park"" installment, a sequel to ""Zootopia"" and a third ""Avatar"" release.Hollywood production issues led to fewer theatrical releases and smaller ticket sales in 2024, with box office receipts down 3.4% from 2023 to $8.74 billion. Already, the 2025 slate appears more robust, with more titles and bigger franchise films.Aiding IMAX's lofty box office goals is the Chinese title ""Ne Zha 2,"" which has already garnered $1.6 billion globally. It is the first film to have topped $1 billion in a single country. Gelfond noted that IMAX accounted for $135 million of the film's total box office.""We've done more box office in China in the first six weeks of this year than we did the whole year last year,"" he said.He added that ""Ne Zha 2"" is doing ""like $100 million a day,"" and that IMAX has accounted for around 13% of the film's box office receipts.Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal is the distributor of ""How to Train Your Dragon"" and ""Jurassic World Rebirth.""",CNBC,21/02/2025,"['In this articleAn ""embarrassment of riches"" at the box office could fuel a $1.2 billion year for IMAX, CEO Rich Gelfond told CNBC on Friday.', 'That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.', '""I think it\'s going to be a very strong year,"" Gelfond said in an interview with CNBC\'s ""Squawk on the Street."" ""', 'The first thing that drives that is the slate.', '""Gelfond pointed to several blockbuster titles slated for release in the next 10 months, including a new ""Mission Impossible,"" a live-action ""How to Train Your Dragon"" film, another ""Jurassic Park"" installment, a sequel to ""Zootopia"" and a third ""Avatar"" release.', 'Hollywood production issues led to fewer theatrical releases andsmaller ticket sales in 2024,with box office receipts down 3.4% from 2023 to $8.74 billion.', 'Already, the 2025 slate appears more robust, with more titles and bigger franchise films.', 'Aiding IMAX\'s lofty box office goals is the Chinese title ""Ne Zha 2,"" which has already garnered $1.6 billion globally.', 'It is the first film to have topped $1 billion in a single country.', ""Gelfond noted that IMAX accounted for $135 million of the film's total box office."", '""We\'ve done more box office in China in the first six weeks of this year than we did the whole year last year,"" he said.', 'He added that ""Ne Zha 2"" is doing ""like $100 million a day,"" and that IMAX has accounted for around 13% of the film\'s box office receipts.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.', 'NBCUniversal is the distributor of ""How to Train Your Dragon"" and ""Jurassic World Rebirth.""']",0.2270888195132322,"That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.",,0.4861024692654609,"That volume would mark the best box office haul for the company, which specializes in high-resolution cameras, film formats, projectors and theaters.","Hollywood production issues led to fewer theatrical releases andsmaller ticket sales in 2024,with box office receipts down 3.4% from 2023 to $8.74 billion.",2025-02-23
"Forever 21 is in talks with liquidators, indicating it's struggling to find a buyer",https://www.cnbc.com/2025/02/19/forever-21-talking-to-liquidators-mulling-second-bankruptcy.html,2025-02-19T22:09:47+0000,"Beleaguered retailer Forever 21 is in talks with liquidators about future steps for the fast fashion company, according to people familiar with the matter — a sign that it's struggling to find a buyer as it mulls a second bankruptcy filing.The company has been looking for a buyer for its U.S. leases and assets to stave off extinction, the people said, and in early January announced it was exploring strategic options. However, opening up the discussion to include liquidators gives Forever 21 the option to use those proceeds to pay back creditors if it can't find a buyer.Forever 21's struggles are primarily in its U.S. business, said one of the people. Its intellectual property, such as its brand name, is not up for sale, the person added. Brand management firm Authentic Brands Group currently owns Forever 21's IP, and a separate entity operates the company.It could be difficult for Forever 21 to find a buyer that could successfully turn around the brand in its current form as it contends with heightened competition from Chinese e-tailers Shein and Temu; higher tariffs; and the loss of its cool factor, said the people, some of whom saw the company's books. The people spoke to CNBC on the condition of anonymity due to the sensitive nature of the discussions.Forever 21 has also long struggled with profitability and has faced difficulties with managing inventory and reining in costs, some of the people said.It's unclear if Forever 21 has hired a liquidator yet, and, even if it does, whether it will ultimately move in that direction. The retailer could still find a buyer, for some or all of its assets, or make a deal with creditors to avoid liquidation. Further, while Forever 21's stores and assets could liquidate, Authentic Brands Group could eventually bring it back in a different form.Forever 21 declined to comment. BRG, the advisory firm it's reportedly working with for restructuring assistance, didn't return a request for comment.The discussions come months after CNBC reported that Forever 21 was having financial difficulties and asking landlords to cut its rent by as much as 50% in some locations as it looked to rein in costs. It wasn't yet considering a second bankruptcy filing at the time, but its position has worsened in the months since. Its partnership with its rival-turned-partner Shein has also been a mixed bag, with the CEO Authentic Brands Group Jamie Salter calling it a work in progress last year during a presentation. As Forever 21's efforts to cut costs and boost sales have faltered, the company is now considering a second bankruptcy filing, the people said, confirming what the The Wall Street Journal earlier reported.Forever 21 filed for bankruptcy protection in 2019, and was later bought by a consortium including Authentic Brands Group and landlords Simon Property Group and Brookfield Property Partners.The company's first trip through Chapter 11 allowed it to restructure its balance sheet and end a number of costly leases, but in the years since, it hasn't managed to fix its business and adapt to new competitive threats. Once one of fast fashion's heavyweights, Forever 21 has been all but replaced by the category's new titans: Shein and Temu. The online-only companies have technology and artificial intelligence embedded into their operating models and aren't encumbered by costly stores. They've become adept at recognizing and responding to consumer trends at speeds so fast the rest of the retail industry has struggled to keep up. Since Shein previously partnered with Forever 21, some industry observers have questioned if the e-tailer would take over its stores. Acquiring some of Forever 21's assets could help further legitimize Shein in the U.S. and globally as it pursues a public listing in London, but one person close to the company previously said that was unlikely because of its inexperience in physical retail.Under Shein's partnership with Forever 21, the Chinese retailer had taken a stake in Forever 21's operator Sparc Group, which reorganized last month. The reorganization merged Sparc with JC Penney to form a new company dubbed Catalyst Brands.Forever 21's struggles indicate how much the category has evolved over the last few years and how difficult it is for others, especially those with large store footprints, to survive in the new landscape. The amplified competition from Shein and Temu, and the havoc the e-tailers are causing for retailers, is similar to the rise of Amazon in decades past, which contributed to an onslaught of retailer bankruptcy filings and liquidations.It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.However, since Authentic Brands already owns Forever 21's intellectual property, it's unclear who would be interested in acquiring the retailer, said Sarah Foss, a restructuring attorney and Debtwire's head of legal. Authentic Brands and similar firms are often first in line to acquire intellectual property of companies headed for a bankruptcy filing.""Those are often the front runners we're seeing in some of these retail bankruptcies,"" said Foss. ""So it'd be interesting to see who comes forward to buy Forever 21, or pieces of it."" — Additional reporting by CNBC's Lillian Rizzo",CNBC,19/02/2025,"[""Beleaguered retailer Forever 21 is in talks with liquidators about future steps for the fast fashion company, according to people familiar with the matter — a sign that it's struggling to find a buyer as it mulls a second bankruptcy filing."", 'The company has been looking for a buyer for its U.S. leases and assets to stave off extinction, the people said, and in early January announced it was exploring strategic options.', ""However, opening up the discussion to include liquidators gives Forever 21 the option to use those proceeds to pay back creditors if it can't find a buyer."", ""Forever 21's struggles are primarily in its U.S. business,said one of the people."", 'Its intellectual property, such as its brand name, is not up for sale,the person added.', ""Brand management firm Authentic Brands Group currently owns Forever 21's IP, and a separate entity operates the company."", ""It could be difficult for Forever 21 to find a buyer that could successfully turn around the brand in its current form as it contends with heightened competition from Chinese e-tailers Shein and Temu; higher tariffs; and the loss of its cool factor, said the people, some of whom saw the company's books."", 'The people spoke to CNBC on the condition of anonymity due to the sensitive nature of the discussions.', 'Forever 21 has also long struggled with profitability and has faced difficulties with managing inventory and reining in costs, some of the people said.', ""It's unclear if Forever 21 has hired a liquidator yet, and, even if it does, whether it will ultimately move in that direction."", 'The retailer could still find a buyer, for some or all of its assets, or make a deal with creditors to avoid liquidation.', ""Further, while Forever 21's stores and assets could liquidate, Authentic Brands Group could eventually bring it back in a different form."", 'Forever 21 declined to comment.', ""BRG, the advisory firm it's reportedly working with for restructuring assistance, didn't return a request for comment."", 'The discussions come months after CNBC reported that Forever 21 was having financial difficulties and asking landlords to cut its rent by as much as 50% in some locations as it looked to rein in costs.', ""It wasn't yet considering a second bankruptcy filing at the time, but its position has worsened in the months since."", 'Its partnership with its rival-turned-partner Shein has also been a mixed bag, with the CEO Authentic Brands Group Jamie Salter calling it a work in progress last year during a presentation.', ""As Forever 21's efforts to cut costs and boost sales have faltered, the company is now considering a second bankruptcy filing, the people said, confirming what the The Wall Street Journal earlier reported."", 'Forever 21 filed for bankruptcy protection in 2019, and was later bought by a consortium including Authentic Brands Group and landlords Simon Property Group and Brookfield Property Partners.', ""The company's first trip through Chapter 11 allowed it to restructure its balance sheet and end a number of costly leases, but in the years since, it hasn't managed to fix its business and adapt to new competitive threats."", ""Once one of fast fashion's heavyweights, Forever 21 has been all but replaced by the category's new titans: Shein and Temu."", ""The online-only companies have technology and artificial intelligence embedded into their operating models and aren't encumbered by costly stores."", ""They've become adept at recognizing and responding to consumer trends at speeds so fast the rest of the retail industry has struggled to keep up."", 'Since Shein previously partnered with Forever 21, some industry observers have questioned if the e-tailer would take over its stores.', ""Acquiring some of Forever 21's assets could help further legitimize Shein in the U.S. and globally as it pursues a public listing in London, but one person close to the company previously said that was unlikely because of its inexperience in physical retail."", ""Under Shein's partnership with Forever 21, the Chinese retailer had taken a stake in Forever 21's operator Sparc Group, which reorganized last month."", 'The reorganization merged Sparc with JC Penney to form a new company dubbed Catalyst Brands.', ""Forever 21's struggles indicate how much the category has evolved over the last few years and how difficult it is for others, especially those with large store footprints, to survive in the new landscape."", 'The amplified competition from Shein and Temu, and the havoc the e-tailers are causing for retailers, is similar to the rise of Amazon in decades past, which contributed to an onslaught of retailer bankruptcy filings and liquidations.', 'It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.', ""However, since Authentic Brands already owns Forever 21's intellectual property, it's unclear who would be interested in acquiring the retailer, said Sarah Foss, a restructuring attorney and Debtwire's head of legal."", 'Authentic Brands and similar firms are often first in line to acquire intellectual property of companies headed for a bankruptcy filing.', '""Those are often the front runners we\'re seeing in some of these retail bankruptcies,"" said Foss. ""', 'So it\'d be interesting to see who comes forward to buy Forever 21, or pieces of it.""—', ""Additional reporting by CNBC's Lillian Rizzo""]",0.0012121017534411,"It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.","Forever 21's struggles indicate how much the category has evolved over the last few years and how difficult it is for others, especially those with large store footprints, to survive in the new landscape.",-0.4785215308268865,"It also fueled the rise of brand management firms like Authentic Brands, which acquire the intellectual property of brands and, in some cases, revive them years later.","Forever 21 has also long struggled with profitability and has faced difficulties with managing inventory and reining in costs, some of the people said.",2025-02-23
"Delta plane crashes on landing at Toronto airport, all 80 aboard survive",https://www.cnbc.com/2025/02/17/delta-flight-incident-toronto-airport.html,2025-02-18T17:41:40+0000,"In this articleA Delta Air Lines regional jet crashed upon landing Monday afternoon at Toronto Pearson International Airport and flipped over. All 80 people on board survived, officials said.The 76 passengers and four crew members were evacuated from the plane, a CRJ-900 regional jet, after the accident, which occurred around 2:15 p.m. ET, Delta said. Two people were airlifted in critical condition, according to Peel Regional Paramedic Services. Delta said Tuesday morning that 19 of 21 passengers who were taken to local hospitals had been released.Video on social media appeared to show the aircraft hitting the runway, before fire and smoke emerged and the airplane flipped over.Delta Flight 4819, operated by the carrier's regional subsidiary Endeavor Air, originated in Delta's hub of Minneapolis–Saint Paul International Airport.Flights to the Toronto airport were temporarily halted but resumed as of 5 p.m. ET on Monday. Delta canceled the rest of its flights to and from Toronto on Monday and issued travel waivers to affected passengers.""Our most pressing priority remains taking care of all customers and Endeavor crew members who were involved,"" Delta CEO Ed Bastian said in a statement. ""We are grateful for all the first responders and medical teams who have been caring for them.""The Toronto airport said it had been expecting a busy day after heavy snowfall in the area, and an expected 130,000 travelers on board around 1,000 flights.It wasn't immediately clear what caused the crash. Weather reports showed winds of between 20 mph and 30 mph Monday, with gusts of up to 40 mph.The Transportation Safety Board of Canada will lead the crash investigation. The National Transportation Safety Board said a team of U.S. investigators will participate in the probe. U.S. Transportation Secretary Sean Duffy said on social media platform X that FAA investigators were en route to Toronto and that he was working with his Canadian counterparts to assist in the investigation.Delta said it sent a team to the Toronto airport Monday evening, including specially trained employees to help customers, employees and Endeavor Air leaders to support the investigation.""Events like these remind us why our entire industry is united on the importance of safety — it's the one area where we never compete,"" Bastian said in a note to staff.The accident comes weeks after a fatal midair collision in January at Reagan International Airport in Washington, D.C., that killed all 64 people on an American Airlines regional jet and three people on board an Army Black Hawk helicopter.Separately, the FAA was recently hit by layoffs spearheaded by President Donald Trump and Elon Musk's advisory group known as the Department of Government Efficiency, with several hundred air traffic controllers receiving firing notices over the weekend.A U.S. Department of Transportation spokesperson told NBC News the FAA ""continues to hire and onboard"" air traffic controllers and that the agency has ""retained employees"" who perform critical safety functions.",CNBC,18/02/2025,"['In this articleA Delta Air Lines regional jet crashed upon landing Monday afternoon at Toronto Pearson International Airport and flipped over.', 'All 80 people on board survived, officials said.', 'The 76 passengers and four crew members were evacuated from the plane, a CRJ-900 regional jet, after the accident, which occurred around 2:15 p.m. ET, Delta said.', 'Two people were airlifted in critical condition, according to Peel Regional Paramedic Services.', 'Delta said Tuesday morning that 19 of 21 passengers who were taken to local hospitals had been released.', 'Video on social media appeared to show the aircraft hitting the runway, before fire and smoke emerged and the airplane flipped over.', ""Delta Flight 4819, operated by the carrier's regional subsidiary Endeavor Air, originated in Delta's hub of Minneapolis–Saint Paul International Airport."", 'Flights to the Toronto airport were temporarily halted but resumed as of 5 p.m. ET on Monday.', 'Delta canceled the rest of its flights to and from Toronto on Monday and issued travel waivers to affected passengers.', '""Our most pressing priority remains taking care of all customers and Endeavor crew members who were involved,"" Delta CEO Ed Bastian said in a statement. ""', 'We are grateful for all the first responders and medical teams who have been caring for them.', '""The Toronto airport said it had been expecting a busy day after heavy snowfall in the area, and an expected 130,000 travelers on board around 1,000 flights.', ""It wasn't immediately clear what caused the crash."", 'Weather reports showed winds of between 20 mph and 30 mph Monday, with gusts of up to 40 mph.', 'The Transportation Safety Board of Canada will lead the crash investigation.', 'The National Transportation Safety Board said a team of U.S. investigators will participate in the probe.', 'U.S. Transportation Secretary Sean Duffy said on social media platform X that FAA investigators were en route to Toronto and that he was working with his Canadian counterparts to assist in the investigation.', 'Delta said it sent a team to the Toronto airport Monday evening, including specially trained employees to help customers, employees and Endeavor Air leaders to support the investigation.', '""Events like these remind us why our entire industry is united on the importance of safety — it\'s the one area where we never compete,"" Bastian said in a note to staff.', 'The accident comes weeks after a fatal midair collision in January at Reagan International Airport in Washington, D.C., that killed all 64 people on an American Airlines regional jet and three people on board an Army Black Hawk helicopter.', ""Separately, the FAA was recently hit by layoffs spearheaded by President Donald Trump and Elon Musk's advisory group known as the Department of Government Efficiency, with several hundred air traffic controllers receiving firing notices over the weekend."", 'A U.S. Department of Transportation spokesperson told NBC News the FAA ""continues to hire and onboard"" air traffic controllers and that the agency has ""retained employees"" who perform critical safety functions.']",0.0748612621505347,"""Events like these remind us why our entire industry is united on the importance of safety — it's the one area where we never compete,"" Bastian said in a note to staff.","The accident comes weeks after a fatal midair collision in January at Reagan International Airport in Washington, D.C., that killed all 64 people on an American Airlines regional jet and three people on board an Army Black Hawk helicopter.",-0.8889119823773702,,"Separately, the FAA was recently hit by layoffs spearheaded by President Donald Trump and Elon Musk's advisory group known as the Department of Government Efficiency, with several hundred air traffic controllers receiving firing notices over the weekend.",2025-02-23
"Rivian beats Wall Street's fourth-quarter expectations, but expects lower deliveries in 2025",https://www.cnbc.com/2025/02/20/rivian-rivn-earnings-q4-2024.html,2025-02-20T22:53:58+0000,"In this articleRivian Automotive beat Wall Street's fourth-quarter earnings expectations and achieved its first gross quarterly profit — a target closely watched by investors — but is forecasting lower sales in 2025.The electric vehicle maker reported a gross profit, which includes production and sales but does not factor in other expenses, of $170 million during the final quarter of last year. Rivian said it plans to achieve another ""modest gross profit"" in 2025. It has not said when it expects to be profitable on a bottom-line basis.For 2025, Rivian also expects to narrow its adjusted losses to a range of $1.7 billion to $1.9 billion, down from a loss of $2.69 billion in 2024. The company forecast deliveries of 46,000 units to 51,000 units for 2025, compared with 51,579 vehicles delivered last year.Shares of Rivian were up about 7% during after-hours trading Thursday before leveling off during the company's quarterly earnings call. The stock closed at $13.61 a share, down 2.3%.Rivian CEO RJ Scaringe told CNBC that there is ""a lot of uncertainty"" surrounding the automotive industry, specifically the potential removal of federal incentives for EVs and tariff policies that could affect the company.""We believe external factors could impact our 2025 expectations, including changes to government policies and regulations, and a challenging demand environment. While uncertainties persist, we remain focused on executing against our key value drivers and are confident in electrifying the world in the long term,"" Rivian said Thursday in a shareholder letter.For its 2025 guidance, Rivian Chief Financial Officer Claire McDonough said the company took into account ""hundreds of millions"" of dollars in expected hits to its EBITDA as a result of less sales due to an expected removal of tax credits.Rivian said it expects capital expenditures this year to be between $1.6 billion and $1.7 billion, up from $1.41 billion last year as it prepares to launch its new ""R2"" midsize vehicles in 2026. The company said it expects to idle its sole auto plant in Normal, Illinois, during the second half of the year to retool for the new vehicles.""We believe R2 will be truly transformative for our growth and profitability,"" McDonough told investors during the earnings call.Here's how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Beginning this quarterly report, Rivian is breaking out its ""Automotive"" and ""Software and Services"" units for additional transparency for investors. The automaker has plans to continue to grow its software business, including a new joint venture with German automaker Volkswagen.Rivian's quarterly gross profit and revenue were helped by $299 million from the sale of regulatory credits, as well as $214 million in software and services revenue. Rivian sells regulatory credits to other automakers to help them meet emissions standards, however future sales could be affected by changes to such regulations by the Trump administration.The company's net loss for the fourth quarter was $743 million, or 70 cents per share, compared to a loss of $1.52 billion, or $1.58 per share, during the same period a year earlier.For the full year, Rivian lost $4.75 billion, or $4.69 per share.Rivian's 2024 revenue was $4.97 billion, up roughly 12% from $4.43 billion in 2023. Fourth-quarter revenue was up more than 31% from the prior-year period.",CNBC,20/02/2025,"[""In this articleRivian Automotive beat Wall Street's fourth-quarter earnings expectations and achieved its first gross quarterly profit — a target closely watched by investors — but is forecasting lower sales in 2025.The electric vehicle maker reported a gross profit, which includes production and sales but does not factor in other expenses, of $170 million during the final quarter of last year."", 'Rivian said it plans to achieve another ""modest gross profit"" in 2025.', 'It has not said when it expects to be profitable on a bottom-line basis.', 'For 2025, Rivian also expects to narrow its adjusted losses to a range of $1.7 billion to $1.9 billion, down from a loss of $2.69 billion in 2024.', 'The company forecast deliveries of 46,000 units to 51,000 units for 2025, compared with 51,579 vehicles delivered last year.', ""Shares of Rivian were up about 7% during after-hours trading Thursday before leveling off during the company's quarterly earnings call."", 'The stock closed at $13.61 a share, down 2.3%.Rivian CEO RJ Scaringe told CNBC that there is ""a lot of uncertainty"" surrounding the automotive industry, specifically the potential removal of federal incentives for EVs and tariff policies that could affect the company.', '""We believe external factors could impact our 2025 expectations, including changes to government policies and regulations, and a challenging demand environment.', 'While uncertainties persist, we remain focused on executing against our key value drivers and are confident in electrifying the world in the long term,"" Rivian said Thursday in a shareholder letter.', 'For its 2025 guidance, Rivian Chief Financial Officer Claire McDonough said the company took into account ""hundreds of millions"" of dollars in expected hits to its EBITDA as a result of less sales due to an expected removal of tax credits.', 'Rivian said it expects capital expenditures this year to be between $1.6 billion and $1.7 billion, up from $1.41 billion last year as it prepares to launch its new ""R2"" midsize vehicles in 2026.', 'The company said it expects to idle its sole auto plant in Normal, Illinois, during the second half of the year to retool for the new vehicles.', '""We believe R2 will be truly transformative for our growth and profitability,"" McDonough told investors during the earnings call.', 'Here\'s how the company performed in the fourth quarter, compared with average estimates compiled by LSEG:Beginning this quarterly report, Rivian is breaking out its ""Automotive"" and ""Software and Services"" units for additional transparency for investors.', 'The automaker has plans to continue to grow its software business, including anew joint venturewith German automaker Volkswagen.', ""Rivian's quarterly gross profit and revenue were helped by $299 million from the sale of regulatory credits, as well as $214 million in software and services revenue."", 'Rivian sells regulatory credits to other automakers to help them meet emissions standards, however future sales could be affected by changes to such regulations by the Trump administration.', ""The company's net loss for the fourth quarter was $743 million, or 70 cents per share, compared to a loss of $1.52 billion, or $1.58 per share, during the same period a year earlier."", 'For the full year, Rivian lost $4.75 billion, or $4.69 per share.', ""Rivian's 2024 revenue was $4.97 billion, up roughly 12% from $4.43 billion in 2023."", 'Fourth-quarter revenue was up more than 31% from the prior-year period.']",0.129083947650311,"""We believe R2 will be truly transformative for our growth and profitability,"" McDonough told investors during the earnings call.","For 2025, Rivian also expects to narrow its adjusted losses to a range of $1.7 billion to $1.9 billion, down from a loss of $2.69 billion in 2024.",0.4640779064761268,"Rivian's 2024 revenue was $4.97 billion, up roughly 12% from $4.43 billion in 2023.","For its 2025 guidance, Rivian Chief Financial Officer Claire McDonough said the company took into account ""hundreds of millions"" of dollars in expected hits to its EBITDA as a result of less sales due to an expected removal of tax credits.",2025-02-23
Amazon to gain creative control of James Bond franchise from Broccoli family,https://www.cnbc.com/2025/02/20/amazon-wins-creative-control-of-james-bond-franchise-from-broccoli-family.html,2025-02-20T16:11:02+0000,"In this articleAmazon is set to take creative control over the lucrative James Bond movie franchise from the Broccoli family, the company announced Thursday.The James Bond films have long been produced by Michael Wilson and Barbara Broccoli, who inherited the control from their father Albert ""Cubby"" Broccoli. Wilson and Broccoli will now give creative control to MGM Studios, which Amazon acquired for $8.45 billion in 2021.Amazon gained distribution rights to the Bond franchise after the MGM acquisition, but not creative control.As part of the deal, Amazon's MGM Studios, Wilson and Broccoli formed a new joint venture to house the Bond intellectual property rights, and they will remain co-owners of the franchise.""We are grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G. Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide,"" said Mike Hopkins, Amazon's head of Prime Video and MGM Studios, in a statement. ""We are honored to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.""Wilson and Broccoli said in a release that they are both stepping back from producing the Bond films to focus on other projects.""Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future,"" Wilson said.In a nod to the deal, Amazon founder and Executive Chairman Jeff Bezos wrote in a post on X, ""Who'd you pick as the next Bond?""The Bond film franchise, which spans more than 60 years, is one of the highest-grossing series in history.The valuable IP stands to be a boon for Amazon's sprawling media and entertainment business, which includes the Prime Video streaming service. Prime Video is one of the key perks of Amazon Prime, the company's mainstay subscription service that costs $139 a year. As of 2021, the company said it had more than 200 million Prime subscribers worldwide.",CNBC,20/02/2025,"['In this articleAmazon is set to take creative control over the lucrative James Bond movie franchise from the Broccoli family, the company announced Thursday.', 'The James Bond films have long been produced by Michael Wilson and Barbara Broccoli, who inherited the control from their father Albert ""Cubby"" Broccoli.', 'Wilson and Broccoli will now give creative control to MGM Studios, which Amazon acquired for $8.45 billion in 2021.Amazon gained distribution rights to the Bond franchise after the MGM acquisition, but not creative control.', ""As part of the deal, Amazon's MGM Studios, Wilson and Broccoli formed a new joint venture to house the Bond intellectual property rights, and they will remain co-owners of the franchise."", '""We are grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G. Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide,"" said Mike Hopkins, Amazon\'s head of Prime Video and MGM Studios, in a statement. ""', 'We are honored to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.', '""Wilson and Broccoli said in a release that they are both stepping back from producing the Bond films to focus on other projects.', '""Barbara and I agree, it is time for our trusted partner, Amazon MGM Studios, to lead James Bond into the future,"" Wilson said.', 'In a nod to the deal, Amazon founder and Executive Chairman Jeff Bezos wrote in a post on X, ""Who\'d you pick as the next Bond?""The Bond film franchise, which spans more than 60 years, is one of the highest-grossing series in history.', ""The valuable IP stands to be a boon for Amazon's sprawling media and entertainment business, which includes the Prime Video streaming service."", ""Prime Video is one of the key perks of Amazon Prime, the company's mainstay subscription service that costs $139 a year."", 'As of 2021, the company said it had more than 200 million Prime subscribers worldwide.']",0.3701877652002461,"We are honored to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.",,0.951895236968994,"The valuable IP stands to be a boon for Amazon's sprawling media and entertainment business, which includes the Prime Video streaming service.",,2025-02-23
Embattled EV maker Nikola files for Chapter 11 bankruptcy protection,https://www.cnbc.com/2025/02/19/nikola-chapter-11-bankruptcy-protection.html,2025-02-19T13:58:09+0000,"In this articleDETROIT — Nikola Corp. — an auto startup that was once a favorite of Wall Street analysts and retail investors — filed for bankruptcy protection after failing to secure a buyer or raise additional funds to maintain operations.Nikola said Wednesday that it plans to pursue an auction and sale process of its assets, pending court approval. The company said it has approximately $47 million in cash to fund its bankruptcy activities, implement the sale process and exit Chapter 11.""Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate,"" Nikola CEO Steve Girsky said in a release. ""Unfortunately, our very best efforts have not been enough to overcome these significant challenges, and the Board has determined that Chapter 11 represents the best possible path forward under the circumstances for the Company and its stakeholders.""The proposed bidding procedures, if approved by the court, would allow interested parties to submit binding offers to acquire Nikola's assets, purchased free and clear of Nikola's indebtedness and certain liabilities. The filing marks the finale of the Phoenix-based company's yearslong fall from grace. At its peak in 2020, Nikola was valued more than Ford Motor at $30 billion, signed a multibillion-dollar deal with General Motors, and was considered the pinnacle of auto startups to go public through reverse mergers and special purpose acquisition companies.The company's downfall has played out over years, ignited by scandals and lies involving its founder and former chairman and CEO, Trevor Milton. The fast-talking, energetic, disgraced executive was convicted of wire fraud and securities fraud in 2022 for misleading investors about Nikola's operations and zero-emissions technology.The controversies were first made public by short seller Hindenburg Research after the deal with GM that included the Detroit automaker taking a $2 billion stake in the startup.Nikola's core products are all-electric and fuel cell electric semitrucks, which it began producing in 2022. As of the third quarter of last year, the company had only produced 600 of the vehicles since then. Many of those vehicles have been recalled due to defects, costing the automaker tens of millions of dollars.Since moving from chairman to CEO in 2023, Girsky has kept Nikola moving forward, including its production of zero-emissions trucks, but the company's capital has been dwindling.Nikola warned investors on its third-quarter conference call that the company only had enough cash to support its business into the first quarter of 2025 but not beyond. Nikola reported $198 million in cash to end the third quarter.Girsky on the call in October said Nikola was ""actively talking to lots of potential different partners who value what we do and value what we've built.""Girsky, a former bank analyst and GM executive, took Nikola public through his SPAC in June 2020. It was a catalyst for more EV companies to go public through SPACs.Similarly to Nikola, most, if not all, have failed to live up to their initial expectations. Many were the center of federal investigations, scandals and executive upheavals.Nikola's stock has traded under $2 per share since early December. Factoring out a 1-for-30 reverse stock split last year, FactSet reports Nikola's all-time closing price was nearly $80 in June 2020.",CNBC,19/02/2025,"['In this articleDETROIT — Nikola Corp. — an auto startup that was once a favorite of Wall Street analysts and retail investors — filed for bankruptcy protection after failing to secure a buyer or raise additional funds to maintain operations.', 'Nikola said Wednesday that it plans to pursue an auction and sale process of its assets, pending court approval.', 'The company said it has approximately$47 millionin cash to fund its bankruptcy activities, implement the sale process and exit Chapter 11.""Like other companies in the electric vehicle industry, we have faced various market and macroeconomic factors that have impacted our ability to operate,"" Nikola CEO Steve Girsky said in a release. ""', 'Unfortunately, our very best efforts have not been enough to overcome these significant challenges, and the Board has determined that Chapter 11 represents the best possible path forward under the circumstances for the Company and its stakeholders.', '""The proposed bidding procedures, if approved by the court, would allow interested parties to submit binding offers to acquire Nikola\'s assets, purchased free and clear of Nikola\'s indebtedness and certain liabilities.', ""The filing marks the finale of the Phoenix-based company's yearslong fall from grace."", 'At its peak in 2020, Nikola was valued more than Ford Motor at $30 billion, signed a multibillion-dollar deal with General Motors, and was considered the pinnacle of auto startups to go public through reverse mergers and special purpose acquisition companies.', ""The company's downfall has played out over years, ignited by scandals and lies involving its founder and former chairman and CEO, Trevor Milton."", ""The fast-talking, energetic, disgraced executive was convicted of wire fraud and securities fraud in 2022 for misleading investors about Nikola's operations and zero-emissions technology."", 'The controversies were first made public by short seller Hindenburg Research after the deal with GM that included the Detroit automaker taking a $2 billion stake in the startup.', ""Nikola's core products are all-electric and fuel cell electric semitrucks, which it began producing in 2022."", 'As of the third quarter of last year, the company had only produced 600 of the vehicles since then.', 'Many of those vehicles have been recalled due to defects, costing the automaker tens of millions of dollars.', ""Since moving from chairman to CEO in 2023, Girsky has kept Nikola moving forward, including its production of zero-emissions trucks, but the company's capital has been dwindling."", 'Nikola warned investors on its third-quarter conference call that the company only had enough cash to support its business into the first quarter of 2025 but not beyond.', 'Nikola reported $198 million in cash to end the third quarter.', 'Girsky on the callin October said Nikola was ""actively talking to lots of potential different partners who value what we do and value what we\'ve built.', '""Girsky, a former bank analyst and GM executive, took Nikola public through his SPAC in June 2020.', 'It was a catalyst for more EV companies to go public through SPACs.', 'Similarly to Nikola, most, if not all, havefailed to live up to their initial expectations.', 'Many were the center of federal investigations, scandals and executive upheavals.', ""Nikola's stock has traded under $2 per share since early December."", ""Factoring out a 1-for-30 reverse stock split last year, FactSet reports Nikola's all-time closing price was nearly $80 in June 2020.""]",0.126832205816032,"""The proposed bidding procedures, if approved by the court, would allow interested parties to submit binding offers to acquire Nikola's assets, purchased free and clear of Nikola's indebtedness and certain liabilities.","The fast-talking, energetic, disgraced executive was convicted of wire fraud and securities fraud in 2022 for misleading investors about Nikola's operations and zero-emissions technology.",-0.0459974482655525,"Unfortunately, our very best efforts have not been enough to overcome these significant challenges, and the Board has determined that Chapter 11 represents the best possible path forward under the circumstances for the Company and its stakeholders.","Since moving from chairman to CEO in 2023, Girsky has kept Nikola moving forward, including its production of zero-emissions trucks, but the company's capital has been dwindling.",2025-02-23
"Restaurants warn of weak first quarter, but say sales will pick up later this year",https://www.cnbc.com/2025/02/16/restaurant-earnings-mcdonalds-chipotle-warn-of-weak-first-quarter.html,2025-02-18T17:26:18+0000,"In like a lion, out like a lamb.That's how restaurant executives envision 2025 after a rough start to the year, largely caused by freezing temperatures, wildfires and consumer caution.Many restaurant chains, like Restaurant Brands' Burger King and Popeyes, said sales improved in the fourth quarter as value offerings brought back diners who had been cooking at home instead. Even McDonald's domestic traffic grew, despite a 1.4% decline in U.S. same-store sales.But the trend reversed in January.""We've started the year facing some overall industry traffic headwinds, exacerbated by significant weather events across the country,"" Wendy's CFO Kenneth Cook said on the company's conference call on Thursday.Fast-food net sales rose 3.4% in January, compared with the year-ago period, but the growth was down slightly from December's spike of 4.9%, according to restaurant market research firm Revenue Management Solutions. Traffic for breakfast and lunch both declined during the month.""I think consumers are still wary,"" Subway U.S. President Doug Fry told CNBC. ""I think they're waiting to see how the economy goes, but they're also not willing to sacrifice that quality and portion size and the quantity of what they're eating. They want to find that best value for the dollar they spend.""Traffic and sales growth are expected to pick up as the year progresses, in part due to the easy comparisons to last year's declines. Industry traffic was negative every month except November, and sales slid over the summer, which is typically a high point for restaurants.""We expect year-over-year comparisons to ease into the summer months,"" Restaurant Brands CFO Sami Siddiqui said.January always brings colder temperatures, but this year it also included wildfires in Los Angeles and new uncertainty after President Donald Trump's inauguration.Chipotle Mexican Grill estimates that the wildfires hurt its January same-store traffic growth by 10 basis points, or 0.1%. Overall, traffic to Chipotle restaurants open at least a year fell 2% in January compared with a year ago, hurt by the weather and New Year's Day falling on a Wednesday. Chipotle CFO Adam Rymer told analysts that the company believes its first-quarter same-store sales will be roughly flat.Looking to the second quarter, Chipotle also expects weaker traffic to its restaurants as it faces tough comparisons to last year's popular promotions. While the company predicts stronger sales in the second half of the year, its weak forecast for the coming months led to a 4% decline in the stock.For now, restaurants aren't predicting any major impact on their businesses from the Trump administration's trade war. Chipotle, which imports roughly half of its avocado supply from Mexico, downplayed concerns about how currently suspended tariffs of 25% would raise food costs. The company, along with Wendy's and McDonald's, did not include any impact from the new 10% duties on China and potential levies on Mexico and Canada in its outlook.But consumers are worrying about tariffs and the potential pressure on their wallets.U.S. consumer sentiment hit a seven-month low in February as households fear rising prices over the next year. Already, inflation in January was hotter than expected, with away-from-home food prices rising 3.4% over the last 12 months, according to the Department of Labor.For the chains plotting a comeback, sales are expected to improve later this year.For example, McDonald's is still waiting for its sales to rebound fully after an E. coli outbreak linked to its Quarter Pounder burgers began weighing on sales in mid-October. The fast-food giant is predicting that demand will recover by the beginning of the second quarter, McDonald's CEO Chris Kempczinski said on the company's conference call on Monday.Plus, if overall consumer health strengthens, McDonald's predicts even more sales gains.""Should the underlying environment improve beyond our initial expectations, especially with respect to lower-income consumers, we would expect to benefit disproportionately relative to our competitors,"" McDonald's CFO Ian Borden said.Then there's Starbucks, which will need a much longer timeline to turn around its business. The coffee chain's same-store sales have fallen for four straight quarters as consumers opt to buy their caffeinated drinks elsewhere.Starbucks suspended its outlook for fiscal 2025, so it didn't provide any insight into its expected sales for the year. However, Starbucks CFO Rachel Ruggeri told investors that the company's earnings are expected to improve in the second half of its fiscal year.""[Earnings per share] is expected to be the lowest in [the fiscal second quarter] on an absolute basis due to seasonality, the organization restructuring I just spoke about and elevated investments, with year-over-year pressure also intensifying in the quarter,"" she said in late January. ""EPS is then expected to improve in the latter half of the fiscal year 2025, both sequentially and year-over-year.""Correction: A previous version of this story misstated the impact of the Los Angeles wildfires on Chipotle's traffic in January.",CNBC,18/02/2025,"['In like a lion, out like a lamb.', ""That's how restaurant executives envision 2025 after a rough start to the year, largely caused by freezing temperatures, wildfires and consumer caution."", ""Many restaurant chains, like Restaurant Brands' Burger King and Popeyes, said sales improved in the fourth quarter as value offerings brought back diners who had been cooking at home instead."", ""Even McDonald's domestic traffic grew, despite a 1.4% decline in U.S. same-store sales."", 'But the trend reversed in January.', '""We\'ve started the year facing some overall industry traffic headwinds, exacerbated by significant weather events across the country,"" Wendy\'s CFO Kenneth Cook said on the company\'s conference call on Thursday.', ""Fast-food net sales rose 3.4% in January, compared with the year-ago period, but the growth was down slightly from December's spike of 4.9%, according to restaurant market research firm Revenue Management Solutions."", 'Traffic for breakfast and lunch both declined during the month.', '""I think consumers are still wary,"" Subway U.S. President Doug Fry told CNBC. ""', ""I think they're waiting to see how the economy goes, but they're also not willing to sacrifice that quality and portion size and the quantity of what they're eating."", 'They want to find that best value for the dollar they spend.', '""Traffic and sales growth are expected to pick up as the year progresses, in part due to the easy comparisons to last year\'s declines.', 'Industry traffic was negative every month except November, and sales slid over the summer, which is typically a high point for restaurants.', '""Weexpectyear-over-yearcomparisonstoeaseintothesummermonths,"" Restaurant Brands CFO Sami Siddiqui said.', ""January always brings colder temperatures, but this year it also included wildfires in Los Angeles and new uncertainty after President Donald Trump's inauguration."", 'Chipotle Mexican Grill estimates that the wildfires hurt its January same-store traffic growth by 10 basis points, or 0.1%.', ""Overall, traffic to Chipotle restaurants open at least a year fell 2% in January compared with a year ago, hurt by the weather and New Year's Day falling on a Wednesday."", 'Chipotle CFO Adam Rymer told analysts that the company believes its first-quarter same-store sales will be roughly flat.', ""Looking to the second quarter, Chipotle also expects weaker traffic to its restaurants as it faces tough comparisons to last year's popular promotions."", 'While the company predicts stronger sales in the second half of the year, its weak forecast for the coming months led to a 4% decline in the stock.', ""For now, restaurants aren't predicting any major impact on their businesses from the Trump administration's trade war."", 'Chipotle, which imports roughly half of its avocado supply from Mexico, downplayed concerns about how currently suspended tariffs of 25% would raise food costs.', ""The company, along with Wendy's and McDonald's, did not include any impact from the new 10% duties on China and potential levies on Mexico and Canada in its outlook."", 'But consumers are worrying about tariffs and the potential pressure on their wallets.', 'U.S. consumer sentiment hit a seven-month low in February as households fear rising prices over the next year.', 'Already, inflation in January was hotter than expected, with away-from-home food prices rising 3.4% over the last 12 months, according to the Department of Labor.', 'For the chains plotting a comeback, sales are expected to improve later this year.', ""For example, McDonald's is still waiting for its sales to rebound fully after an E. coli outbreak linked to its Quarter Pounder burgers began weighing on sales in mid-October."", ""The fast-food giant is predicting that demand will recover by the beginning of the second quarter, McDonald's CEO Chris Kempczinski said on the company's conference call on Monday."", ""Plus, if overall consumer health strengthens, McDonald's predicts even more sales gains."", '""Should the underlying environment improve beyond our initial expectations, especially with respect to lower-income consumers, we would expect to benefit disproportionately relative to our competitors,"" McDonald\'s CFO Ian Borden said.', ""Then there's Starbucks, which will need a much longer timeline to turn around its business."", ""The coffee chain's same-store sales have fallen for four straight quarters as consumers opt to buy their caffeinated drinks elsewhere."", ""Starbucks suspended its outlook for fiscal 2025, so it didn't provide any insight into its expected sales for the year."", ""However, Starbucks CFO Rachel Ruggeri told investors that the company's earnings are expected to improve in the second half of its fiscal year."", '""[Earnings per share] is expected to be the lowest in [the fiscal second quarter] on an absolute basis due to seasonality, the organization restructuring I just spoke about and elevated investments, with year-over-year pressure also intensifying in the quarter,"" she said in late January. ""', 'EPS is then expected to improve in the latter half of the fiscal year 2025, both sequentially and year-over-year.', '""Correction: A previous version of this story misstated the impact of the Los Angeles wildfires on Chipotle\'s traffic in January.']",0.0200126142795206,"""Should the underlying environment improve beyond our initial expectations, especially with respect to lower-income consumers, we would expect to benefit disproportionately relative to our competitors,"" McDonald's CFO Ian Borden said.",But consumers are worrying about tariffs and the potential pressure on their wallets.,-0.2096922556559244,"""Should the underlying environment improve beyond our initial expectations, especially with respect to lower-income consumers, we would expect to benefit disproportionately relative to our competitors,"" McDonald's CFO Ian Borden said.","Overall, traffic to Chipotle restaurants open at least a year fell 2% in January compared with a year ago, hurt by the weather and New Year's Day falling on a Wednesday.",2025-02-23
Yankees throw out one of baseball's most notorious traditions: Players can now grow beards,https://www.cnbc.com/2025/02/21/ny-yankees-beard-ban-is-over.html,2025-02-21T17:25:42+0000,"Start spreading the news: For the first time in nearly 50 years, the New York Yankees are allowing players to grow beards.In a statement Friday, Yankees owner Hal Steinbrenner said he spoke to former and current players about the long-standing policy preventing most facial hair and has decided the team will now permit ""well-groomed beards.""""These most recent conversations are an extension of ongoing internal dialogue that dates back several years,"" Steinbrenner wrote. ""It is the appropriate time to move beyond the familiar comfort of our former policy.""The news comes days after pitcher Devin Williams, whom the Yankees acquired from the Milwaukee Brewers during the offseason, sported some forbidden facial hair in an official team photo. Williams previously maintained a beard during his time with the Brewers.The Yankees' facial hair policy was first implemented by George Steinbrenner, the former Yankees owner and father of Hal Steinbrenner, in the 1970s. The policy banned any facial hair other than mustaches, with exceptions for religious reasons, and scalp hair below the collar for players, coaches and male executives.George Steinbrenner, who died in 2010, justified the rule as a way of instilling discipline in the team, reportedly telling The New York Times in 1978 that he wanted to ""to develop pride in the players as Yankees.""Since then, all players have abided by the policy, though not without some resistance. Famously, Yankees captain Don Mattingly was benched in 1991 for refusing to get a haircut, an incident mocked on a 1992 episode of ""The Simpsons."" Former Yankee Andrew McCutchen said in 2020 that it would have been difficult for him to join the team when he still had dreadlocks, which he wore during the early years of his career with the Pittsburgh Pirates, and called on the franchise to change the rule.The tradition has also turned some prospective Yankees away. General manager Brian Cashman said in 2013 that he ruled out trading for relief pitcher Brian Wilson because Wilson refused to shave his beard. Pitcher David Price said in 2013 that he did not want to play for the Yankees due to the policy.Many past and present players got rid of their beards when they joined the Yankees from another team, including Gerrit Cole, Johnny Damon and current offseason acquisitions Paul Goldschmidt and Cody Bellinger.",CNBC,21/02/2025,"['Start spreading the news: For the first time in nearly 50 years, the New York Yankees are allowing players to grow beards.', 'In a statement Friday, Yankees owner Hal Steinbrenner said he spoke to former and current players about the long-standing policy preventing most facial hair and has decided the team will now permit ""well-groomed beards.', '""""These most recent conversations are an extension of ongoing internal dialogue that dates back several years,"" Steinbrenner wrote. ""', 'It is the appropriate time to move beyond the familiar comfort of our former policy.', '""The news comes days after pitcher Devin Williams, whom the Yankees acquired from the Milwaukee Brewers during the offseason, sported some forbidden facial hair in an official team photo.', 'Williams previously maintained a beard during his time with the Brewers.', ""The Yankees' facial hair policy was first implemented by George Steinbrenner, the former Yankees owner and father of Hal Steinbrenner, in the 1970s."", 'The policy banned any facial hair other than mustaches, with exceptions for religious reasons, and scalp hair below the collar for players, coaches and male executives.', 'George Steinbrenner, who died in 2010, justified the rule as a way of instilling discipline in the team, reportedly telling The New York Times in 1978 that he wanted to ""to develop pride in the players as Yankees.', '""Since then, all players have abided by the policy, though not without some resistance.', 'Famously, Yankees captain Don Mattingly was benched in 1991 for refusing to get a haircut, an incident mocked on a 1992 episode of ""The Simpsons.""', 'Former Yankee Andrew McCutchen said in 2020 that it would have been difficult for him to join the team when he still had dreadlocks, which he wore during the early years of his career with the Pittsburgh Pirates, and called on the franchise to change the rule.', 'The tradition has also turned some prospective Yankees away.', 'General manager Brian Cashman said in 2013 that he ruled out trading for relief pitcher Brian Wilson because Wilson refused to shave his beard.', 'Pitcher David Price said in 2013 that he did not want to play for the Yankees due to the policy.', 'Many past and present players got rid of their beards when they joined the Yankees from another team, including Gerrit Cole, Johnny Damon and current offseason acquisitions Paul Goldschmidt and Cody Bellinger.']",-0.0602555153607416,It is the appropriate time to move beyond the familiar comfort of our former policy.,"Famously, Yankees captain Don Mattingly was benched in 1991 for refusing to get a haircut, an incident mocked on a 1992 episode of ""The Simpsons.""",-0.7671583145856857,,The tradition has also turned some prospective Yankees away.,2025-02-23
"UnitedHealth's rough stretch continues, with buyouts, a reported DOJ probe and a 23% drop in three months",https://www.cnbc.com/2025/02/21/unitedhealth-faces-doj-investigation-buyouts-stock-price-drop.html,2025-02-21T20:56:28+0000,"In this articleUnitedHealthcare is in hot water again as the insurance giant grapples with a reported government investigation of its Medicare billing practices, pursues employee buyouts and potential layoffs, and clashes publicly with billionaire Bill Ackman.Those developments in recent days extend a tumultuous past year for its parent company, UnitedHealth Group, marked by the killing of a top executive, a costly cyberattack against its subsidiary and high medical costs in its insurance arm. UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its more than $420 billion market cap, and UnitedHealthcare is the nation's largest private insurer. Shares of UnitedHealth Group have tumbled more than 20% over the last three months.The stock also closed 7% lower on Friday following a report about the probe, which was first reported by The Wall Street Journal. The Department of Justice has launched a civil fraud investigation in recent months into UnitedHealth's billing practices for its Medicare Advantage plans, according to the newspaper.The probe specifically examines whether diagnoses were routinely made to trigger extra payments in those plans, including at physician groups the insurer owns, the Journal said. It comes after a series of articles from the newspaper last year, which reported that Medicare paid UnitedHealth billions of dollars for questionable diagnoses. Medicare Advantage plans are offered by private insurers who are paid a set rate by the government to manage health care for seniors looking for extra benefits not covered in traditional Medicare. Those plans have been a source of high medical costs across the broader insurance industry over the last year.  In a statement, UnitedHealth called the Journal's reporting ""misinformation"" and said the company consistently performs at the industry's ""highest levels"" when it comes to government compliance reviews of Medicare Advantage plans""Any suggestion that our practices are fraudulent is outrageous and false,"" the company said.In a research note Friday, RBC Capital Markets analyst Ben Hendrix called the reported investigation an ""incremental overhang"" but emphasized it will likely be a ""lengthy process and unlikely in our view to result in material financial headwinds in the near term."" He pointed to a probe the DOJ launched last year into the company's subsidiary Optum Rx for potential antitrust violations, which will similarly have an extended timeline before any resolution. Reports about the probe came two days after CNBC first reported that UnitedHealthcare is offering buyouts to employees and could pursue layoffs if resignation quotas aren't met. The move comes as the company tries to cut costs through efforts like leveraging digital technology. And earlier this month, Ackman, one of the world's most prominent investors, publicly pledged to cover the legal fees for a Texas doctor in a dispute with UnitedHealth Group over her claims that the company pulled her out of an operation to justify a patient's care.Ackman, who is CEO of Pershing Square Capital Management, later took down a post on X that was critical of the insurer after lawyers for UnitedHealth told him that the doctor's claims that he had amplified on social media were untrue. Ackman said he has no position in UnitedHealth. One of his earlier posts on the dispute called on the U.S. Securities and Exchange Commission to investigate the company and suggested that the insurer's ""profitability is massively overstated due to its denial of medically necessary procedures.""That's similar to the public blowback the company faced after the killing of UnitedHealthcare CEO Brian Thompson in December. It unleashed a wave of pent-up anger and resentment toward the insurance industry and renewed calls for reform to prevent denials of care.UnitedHealth is also still grappling with the fallout from a cyberattack on its subsidiary Change Healthcare, which processes medical claims. The cyberattack compromised the protected health information of around 190 million people, and UnitedHealth has paid out more than $3 billion to providers affected.UnitedHealth has said it became aware of the cyberattack a year ago to the day Friday.",CNBC,21/02/2025,"['In this articleUnitedHealthcare is in hot water again as the insurance giant grapples with a reported government investigation of its Medicare billing practices, pursues employee buyouts and potential layoffs, and clashes publicly with billionaire Bill Ackman.', 'Those developments in recent days extend a tumultuous past year for its parent company, UnitedHealth Group, marked by the killing of a top executive, a costly cyberattack against its subsidiary and high medical costs in its insurance arm.', ""UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its more than $420 billion market cap, and UnitedHealthcare is the nation's largest private insurer."", 'Shares of UnitedHealth Group have tumbled more than 20% over the last three months.', 'The stock also closed 7% lower on Friday following a report about the probe, which was first reported by The Wall Street Journal.', ""The Department of Justice has launched a civil fraud investigation in recent months into UnitedHealth's billing practices for its Medicare Advantage plans, according to the newspaper."", 'The probe specifically examines whether diagnoses were routinely made to trigger extra payments in those plans, including at physician groups the insurer owns, the Journal said.', 'It comes after a series of articles from the newspaper last year, which reported that Medicare paid UnitedHealth billions of dollars for questionable diagnoses.', 'Medicare Advantage plans are offered by private insurers who are paid a set rate by the government to manage health care for seniors looking for extra benefits not covered in traditional Medicare.', 'Those plans have been a source of high medical costs across the broader insurance industry over the last year.', 'In a statement, UnitedHealth called the Journal\'s reporting ""misinformation"" and said the company consistently performs at the industry\'s ""highest levels"" when it comes to government compliance reviews of Medicare Advantage plans""Any suggestion that our practices are fraudulent is outrageous and false,"" the company said.', 'In a research note Friday, RBC Capital Markets analyst Ben Hendrix called the reported investigation an ""incremental overhang"" but emphasized it will likely be a ""lengthy process and unlikely in our view to result in material financial headwinds in the near term.""', ""He pointed to a probe the DOJ launched last year into the company's subsidiary Optum Rx for potential antitrust violations, which will similarly have an extended timeline before any resolution."", ""Reports about the probe came two days after CNBC first reported that UnitedHealthcare is offering buyouts to employees and could pursue layoffs if resignation quotas aren't met."", 'The move comes as the company tries to cut costs through efforts like leveraging digital technology.', ""And earlier this month, Ackman, one of the world's most prominent investors, publicly pledged to cover the legal fees for a Texas doctor in a dispute with UnitedHealth Group over her claims that the company pulled her out of an operation to justify a patient's care."", ""Ackman, who is CEO of Pershing Square Capital Management, later took down a post on X that was critical of the insurer after lawyers for UnitedHealth told him that the doctor's claims that he had amplified on social media were untrue."", 'Ackman said he has no position in UnitedHealth.', 'One of his earlier posts on the dispute called on the U.S. Securities and Exchange Commission to investigate the company and suggested that the insurer\'s ""profitability is massively overstated due to its denial of medically necessary procedures.', '""That\'s similar to the public blowback the company faced after the killing of UnitedHealthcare CEO Brian Thompson in December.', 'It unleashed a wave of pent-up anger and resentment toward the insurance industry and renewed calls for reform to prevent denials of care.', 'UnitedHealth is also still grappling with the fallout from a cyberattack on its subsidiary Change Healthcare, which processes medical claims.', 'The cyberattack compromised the protected health information of around 190 million people, and UnitedHealth has paid out more than $3 billion to providers affected.', 'UnitedHealth has said it became aware of the cyberattack a year ago to the day Friday.']",-0.0587352171872444,Medicare Advantage plans are offered by private insurers who are paid a set rate by the government to manage health care for seniors looking for extra benefits not covered in traditional Medicare.,"In a statement, UnitedHealth called the Journal's reporting ""misinformation"" and said the company consistently performs at the industry's ""highest levels"" when it comes to government compliance reviews of Medicare Advantage plans""Any suggestion that our practices are fraudulent is outrageous and false,"" the company said.",-0.744643170099992,The move comes as the company tries to cut costs through efforts like leveraging digital technology.,Shares of UnitedHealth Group have tumbled more than 20% over the last three months.,2025-02-23
San Francisco 49ers explore 10% minority stake sale at about $9 billion valuation,https://www.cnbc.com/2025/02/19/san-francisco-49ers-explore-selling-minority-stake-sale.html,2025-02-19T20:07:39+0000,"The San Francisco 49ers may be the next National Football League franchise to sell a minority stake to private equity.The 49ers are considering a sale of up to 10% of the franchise to either a private equity firm or other investors, including wealthy individuals or families, according to a person familiar with the matter.The New York Giants are also exploring a minority stake sale, the franchise announced last week.NFL owners voted last year to allow private equity investment of up to 10% of a franchise. The Miami Dolphins and the Buffalo Bills have already struck deals with investment firms, and the Philadelphia Eagles and Las Vegas Raiders have used the increased interest from private equity to generate higher prices from other individuals and families.The 49ers are hoping to value the franchise near $9 billion, the person said. CNBC valued the organization at $7.4 billion in its most recent valuations list.Bloomberg first reported the team's interest in selling a minority stake.The NFL's 49ers are both recently and historically one of the most successful NFL franchises in terms of wins and losses. The parent company of the 49ers, 49ers Enterprises, also owns the English football club Leeds United. The York family owns the 49ers, and Jed York is the 49ers' CEO.Many teams are eager to sell minority stakes for increased liquidity for family members or for money that can be pumped back into the team for stadium repairs or future investments.Sales to private equity firms come with no voting rights. Still, firms have been willing to pay premium prices for small stakes because they come with perks, such as owner's box seating, which can be used for clients and employees.",CNBC,19/02/2025,"['The San Francisco 49ers may be the next National Football League franchise to sell a minority stake to private equity.', 'The 49ers are considering a sale of up to 10% of the franchise to either a private equity firm or other investors, including wealthy individuals or families, according to a person familiar with the matter.', 'The New York Giants are also exploring a minority stake sale, the franchise announced last week.', 'NFL owners voted last year to allow private equity investment of up to 10% of a franchise.', 'The Miami Dolphins and the Buffalo Bills have already struck deals with investment firms, and the Philadelphia Eagles and Las Vegas Raiders have used the increased interest from private equity to generate higher prices from other individuals and families.', 'The 49ers are hoping to value the franchise near $9 billion, the person said.', 'CNBC valued the organization at $7.4 billion in its most recent valuations list.', ""Bloomberg first reported the team's interest in selling a minority stake."", ""The NFL's 49ers are both recently and historically one of the most successful NFL franchises in terms of wins and losses."", 'The parent company of the 49ers, 49ers Enterprises, also owns the English football club Leeds United.', ""The York family owns the 49ers, and Jed York is the 49ers' CEO.Many teams are eager to sell minority stakes for increased liquidity for family members or for money that can be pumped back into the team for stadium repairs or future investments."", 'Sales to private equity firms come with no voting rights.', ""Still, firms have been willing to pay premium prices for small stakes because they come with perks, such as owner's box seating, which can be used for clients and employees.""]",0.3021186300740778,The NFL's 49ers are both recently and historically one of the most successful NFL franchises in terms of wins and losses.,Sales to private equity firms come with no voting rights.,0.9709718346595764,"The Miami Dolphins and the Buffalo Bills have already struck deals with investment firms, and the Philadelphia Eagles and Las Vegas Raiders have used the increased interest from private equity to generate higher prices from other individuals and families.",,2025-02-23
Walmart shares drop as retailer says profit growth will slow,https://www.cnbc.com/2025/02/20/walmart-wmt-q4-2025-earnings.html,2025-02-20T21:12:14+0000,"In this articleWalmart shares fell more than 6% Thursday, as the big-box retailer said profit growth will slow this fiscal year even as sales continue to climb.Walmart said holiday-quarter revenue rose about 4% and e-commerce sales shot up 20% in the U.S., as growth in store pickup and home deliveries and gains with upper-income shoppers boosted results. But its outlook disappointed Wall Street.In the fiscal year ahead, the discounter said it expects net sales to grow 3% to 4% and adjusted operating income to increase between 3.5% to 5.5% on a constant currency basis. The company said that includes a 150 basis point, or 1.5 percentage point, headwind from acquiring smart TV company Vizio and following a leap year in 2024. For the just completed fiscal year, Walmart posted adjusted operating income growth of 9.7% on a constant currency basis.The company also said it expects full-year adjusted earnings of $2.50 to $2.60 per share, which includes a 5 cent per share headwind from currency. That fell short of the $2.76 per share Wall Street had expected.In an interview with CNBC, Chief Financial Officer John David Rainey described consumer spending patterns as ""steady"" and said ""there's not any sharp changes that we've seen.""Yet he acknowledged ""there's far from certainty in the geopolitical landscape.""About two-thirds of what Walmart sells is made, grown or assembled in the U.S. Yet if tariffs on imports from Mexico and Canada take effect, he said Walmart is ""not going to be completely immune.""""We've lived in a tariff environment for the last seven or eight years, and we'll do what we know how to do,"" he said. ""We'll work with suppliers. We'll lean into our private brand. We'll shift supply where necessary to try to take advantage of lower costs that we can then pass on to consumers.""Since Walmart is not sure if the tariffs will take effect next month, the company did not factor them into its guidance, Rainey said.Here is what the big-box retailer reported for the fiscal fourth quarter compared with Wall Street's estimates, according to a survey of analysts by LSEG:In the three-month period that ended Jan. 31, Walmart's net income fell to $5.25 billion, or 65 cents per share, compared with $5.49 billion or 68 cents per share in the year-ago period. Revenue rose from $173.39 billion in the year-ago quarter. The company's adjusted earnings per share figure excluded one-time items, including opioid-related legal costs and gains and losses on equity and other investments.Comparable sales, an industry metric also known as same-store sales, increased 4.6% for Walmart's U.S. business and 6.8% for Sam's Club, excluding fuel.Walmart's e-commerce sales in the U.S. soared 20% compared with the year-ago period. That marked the 11th straight quarter of double-digit gains. Global e-commerce sales rose 16%.In the Walmart U.S. segment, customers' store visits and purchases climbed, as transactions rose 2.8% and average ticket increased 1.8% year over year. Since Walmart is the nation's top grocer, investors often view it as a barometer of consumer health. Investors have tried to parse whether softer U.S. retail sales in January were a blip or warning sign. Wall Street also is trying to understand the potential impact of policy decisions, such as tariffs, on consumer spending. Restaurant chains, including Restaurant Brands' Burger King and Popeyes, said sales improved in the fourth quarter, but they had weak trends in January. Yet those restaurants and some retail experts have blamed short-term factors for the drop, including winter storms, consumers taking a break after splurging over the holidays and contending with damage and disruption from the Los Angeles wildfires.Rainey echoed those sentiments on the call with CNBC, saying cold weather and the wildfires hurt Walmart's sales. He said that's temporary, however, and doesn't indicate a change in consumer spending patterns.Even so, the big-box retailer faced many questions from retail analysts on Thursday's earnings call about the reasons for its conservative forecast.On the earnings call, Rainey said the outlook is consistent with Walmart's guidance for the last two years, when it projected operating income growth of 4% to 6% annually. If the company took out the impact from the Vizio acquisition and extra day from leap year, he said the outlook would be 5% to 7%, which would represent an acceleration from its previous guidance ranges.Still, he said, ""it's prudent to have an outlook that is somewhat measured.""""We have to acknowledge that we are in an uncertain time and we don't want to get out over our skis here,"" he said. ""There's a lot of the year to play out. Again, we feel good about our ability to navigate the environment, whether it's tariffs or other macro [economic] uncertainty.""Walmart has taken a page from rival Amazon's book, as it chases ways make money outside of retail. Those newer moneymakers worked in its favor in the fourth quarter. Its advertising business and third-party marketplace are small compared with Amazon's, but have posted gains and driven higher margins than Walmart's retail business.Global membership income grew by 16% year over year, with some of that coming from its subscription-based membership program, Walmart+, in addition to warehouse club Sam's Club. Its global advertising business grew 29%, including a 24% increase in Walmart Connect.Walmart's third-party marketplace and its fulfillment services segment, which packs and ships orders for marketplace sellers, also rose by double digits.""These are all higher margin, faster-growing parts of our business where the math is just suggesting that our margins are going up over time,"" he said on the call with CNBC. ""And frankly, I don't see any end to this.""Faster and more frequent deliveries have helped Walmart's e-commerce business become more profitable. On the earnings call, Rainey said the delivery routes for Walmart have become denser as customers place more orders. Plus, he said, shoppers have shown a willingness to pay more to speed online orders to their doors.Over 30% of Walmart customers who have an item delivered from a store have paid an extra fee to have that delivered within a few hours, Rainey said. On Christmas Eve, he said, 77% of orders were express deliveries. Those faster deliveries, which are made in less than two hours, cost an additional $10.One of Walmart's newer services, pharmacy deliveries, is a growth opportunity, too, Walmart U.S. CEO John Furner said on the earnings call. The deliveries began in October in six states, but have expanded across the country.As customers order a prescription for a sick family member or place an order for their regular medication, many are buying other items like groceries, Furner said.Walmart also hiked its dividend by 13% to 94 cents per share, the largest increase in more than a decade.As of Wednesday's close, shares of Walmart are up about 83% over the past year. The stock closed on Wednesday at $104.00, up about 15% so far this year and outpacing the approximately 4% gains of the S&P 500 during the same period.",CNBC,20/02/2025,"['In this articleWalmart shares fell more than 6% Thursday, as the big-box retailer said profit growth will slow this fiscal year even as sales continue to climb.', 'Walmart said holiday-quarter revenue rose about 4% and e-commerce sales shot up 20% in the U.S., as growth in store pickup and home deliveries and gains with upper-income shoppers boosted results.', 'But its outlook disappointed Wall Street.', 'In the fiscal year ahead, the discounter said it expects net sales to grow 3% to 4% and adjusted operating income to increase between 3.5% to 5.5% on a constant currency basis.', 'The company said that includes a 150 basis point, or 1.5 percentage point, headwind from acquiring smart TV company Vizio and following a leap year in 2024.For the just completed fiscal year, Walmart posted adjusted operating income growth of 9.7% on a constant currency basis.', 'The company also said it expects full-year adjusted earnings of $2.50 to $2.60 per share, which includes a 5 cent per share headwind from currency.', 'That fell short of the $2.76 per share Wall Street had expected.', 'In an interview with CNBC, Chief Financial Officer John David Rainey described consumer spending patterns as ""steady"" and said ""there\'s not any sharp changes that we\'ve seen.', '""Yet he acknowledged ""there\'s far from certainty in the geopolitical landscape.', '""About two-thirds of what Walmart sells is made, grown or assembled in the U.S. Yet if tariffs on imports from Mexico and Canada take effect, he said Walmart is ""not going to be completely immune.', '""""We\'ve lived in a tariff environment for the last seven or eight years, and we\'ll do what we know how to do,"" he said. ""', ""We'll work with suppliers."", ""We'll lean into our private brand."", ""We'll shift supply where necessary to try to take advantage of lower costs that we can then pass on to consumers."", '""Since Walmart is not sure if the tariffs will take effect next month, the company did not factor them into its guidance, Rainey said.', ""Here is what the big-box retailer reported for the fiscal fourth quarter compared with Wall Street's estimates, according to a survey of analysts by LSEG:In the three-month period that ended Jan. 31, Walmart's net income fell to $5.25 billion, or 65 cents per share, compared with $5.49 billion or 68 cents per share in the year-ago period."", 'Revenue rose from $173.39 billion in the year-ago quarter.', ""The company's adjusted earnings per share figure excluded one-time items, including opioid-related legal costs and gains and losses on equity and other investments."", ""Comparable sales, an industry metric also known as same-store sales, increased 4.6% for Walmart's U.S. business and 6.8% for Sam's Club, excluding fuel."", ""Walmart's e-commerce sales in the U.S. soared 20% compared with the year-ago period."", 'That marked the 11th straight quarter of double-digit gains.', ""Global e-commerce sales rose 16%.In the Walmart U.S. segment, customers' store visits and purchases climbed, as transactions rose 2.8% and average ticket increased 1.8% year over year."", ""Since Walmart is the nation's top grocer, investors often view it as a barometer of consumer health."", 'Investors have tried to parse whether softer U.S. retail sales in January were a blip or warning sign.', 'Wall Street also is trying to understand the potential impact of policy decisions, such as tariffs, on consumer spending.', ""Restaurant chains, including Restaurant Brands' Burger King and Popeyes, said sales improved in the fourth quarter, but they had weak trends in January."", 'Yet those restaurants and some retail experts have blamed short-term factors for the drop, including winter storms, consumers taking a break after splurging over the holidays and contending with damage and disruption from the Los Angeles wildfires.', ""Rainey echoed those sentiments on the call with CNBC, saying cold weather and the wildfires hurt Walmart's sales."", ""He said that's temporary, however, and doesn't indicate a change in consumer spending patterns."", ""Even so, the big-box retailer faced many questions from retail analysts on Thursday's earnings call about the reasons for its conservative forecast."", ""On the earnings call, Rainey said the outlook is consistent with Walmart's guidance for the last two years, when it projected operating income growth of 4% to 6% annually."", 'If the company took out the impact from the Vizio acquisition and extra day from leap year, he said the outlook would be 5% to 7%, which would represent an acceleration from its previous guidance ranges.', 'Still, he said, ""it\'s prudent to have an outlook that is somewhat measured.', '""""We have to acknowledge that we are in an uncertain time and we don\'t want to get out over our skis here,"" he said. ""', ""There's a lot of the year to play out."", ""Again, we feel good about our ability to navigate the environment, whether it's tariffs or other macro [economic] uncertainty."", '""Walmart has taken a page from rival Amazon\'s book, as it chases ways make money outside of retail.', 'Those newer moneymakers worked in its favor in the fourth quarter.', ""Its advertising business and third-party marketplace are small compared with Amazon's, but have posted gains and driven higher margins than Walmart's retail business."", ""Global membership income grew by 16% year over year, with some of that coming from its subscription-based membership program, Walmart+, in addition to warehouse club Sam's Club."", 'Its global advertising business grew 29%, including a 24% increase in Walmart Connect.', ""Walmart's third-party marketplace and its fulfillment services segment, which packs and ships orders for marketplace sellers, also rose by double digits."", '""These are all higher margin, faster-growing parts of our business where the math is just suggesting that our margins are going up over time,"" he said on the call with CNBC. ""', ""And frankly, I don't see any end to this."", '""Faster and more frequent deliveries have helped Walmart\'s e-commerce business become more profitable.', 'On the earnings call, Rainey said the delivery routes for Walmart have become denser as customers place more orders.', 'Plus, he said, shoppers have shown a willingness to pay more to speed online orders to their doors.', 'Over 30% of Walmart customers who have an item delivered from a store have paid an extra fee to have that delivered within a few hours, Rainey said.', 'On Christmas Eve, he said, 77% of orders were express deliveries.', ""Those faster deliveries, which are made in less than two hours, cost an additional $10.One of Walmart's newer services, pharmacy deliveries, is a growth opportunity, too, Walmart U.S. CEO John Furner said on the earnings call."", 'The deliveries began in October in six states, but have expanded across the country.', 'As customers order a prescription for a sick family member or place an order for their regular medication, many are buying other items like groceries, Furner said.', 'Walmart also hiked its dividend by 13% to 94 cents per share, the largest increase in more than a decade.', ""As of Wednesday's close, shares of Walmart are up about 83% over the past year."", 'The stock closed on Wednesday at $104.00, up about 15% so far this year and outpacing the approximately 4% gains of the S&P 500 during the same period.']",0.1479161236306951,"Walmart said holiday-quarter revenue rose about 4% and e-commerce sales shot up 20% in the U.S., as growth in store pickup and home deliveries and gains with upper-income shoppers boosted results.","Yet those restaurants and some retail experts have blamed short-term factors for the drop, including winter storms, consumers taking a break after splurging over the holidays and contending with damage and disruption from the Los Angeles wildfires.",0.5035282953365429,"Global membership income grew by 16% year over year, with some of that coming from its subscription-based membership program, Walmart+, in addition to warehouse club Sam's Club.","In this articleWalmart shares fell more than 6% Thursday, as the big-box retailer said profit growth will slow this fiscal year even as sales continue to climb.",2025-02-23
"UnitedHealthcare is offering buyouts to employees in benefits unit, could pursue layoffs, sources say",https://www.cnbc.com/2025/02/19/unitedhealthcare-offers-buyouts-could-pursue-layoffs.html,2025-02-19T21:52:39+0000,"In this articleUnitedHealthcare is offering certain employees in its benefits operations unit the option to accept buyouts if they quit by March 3, following a tumultuous year for the insurance giant, CNBC has learned.Those who don't accept the offer will continue in either their current role or a comparable position, two people familiar with the matter told CNBC. If the company does not meet a resignation quota through buyouts, it will lay off employees, the people said, citing an internal resource site. The company declined to share how many employees received buyout offers under the so-called Voluntary Resignation Separation Program. The benefits operations unit oversees multiple subdivisions that help manage customer service, claims, enrollment, customers' insurance benefits and more, one person said.  UnitedHealthcare, the insurance arm of UnitedHealth Group, is the largest private health insurer in the U.S. UnitedHealth Group had more than 440,000 employees as of December 2023, but it does not disclose how many people work in its benefits segment or overall insurance business.UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its roughly $460 billion market cap, but it has tried to cut costs as medical expenses increase for Medicare Advantage beneficiaries and it deals with the fallout from the costly cyberattack against its subsidiary Change Healthcare. It has also faced renewed anger over high health-care costs in the U.S., following the killing of its insurance unit CEO Brian Thompson in December.Employees eligible for the buyouts include full-time or part-time U.S. workers assigned to four internal segments under benefits operations, including corporate, consumer operations, core services and provider services, according to an internal memo sent Monday and viewed by CNBC.""This voluntary option is part of our ongoing efforts to ensure our team is best positioned to meet the evolving needs of the people and customers we are honored to serve,"" a UnitedHealth spokesperson told CNBC in a statement. ""We continue to grow our workforce with more than 3,200 positions currently available on UnitedHealth Group's careers site.""The company expects employees' termination date to be no sooner than May 1, according to the memo. The memo said some employees who accept buyouts may need to work beyond that date, but the company does not expect to require them to work past Nov. 13. Their severance packages will depend on the number of years they have spent at the company and their salary grade, and will kick in on their termination date, the memo said. The benefits provided to employees included in any potential future layoffs may not be ""as favorable"" as those offered to workers under the buyout program, according to the memo. Workers who received the buyout offers are in shock, said the people familiar with the matter, especially after UnitedHealth Group reported its highest-ever annual revenue in 2024. The company said in its January earnings release that it generated $400.3 billion in revenue in 2024, up 8% year over year.UnitedHealth executives said during the company's fourth-quarter call in January that ""digital adoption"" helped the company lower costs. CEO Andrew Witty called it a ""modernization agenda"" which includes but isn't limited to artificial intelligence.He added that UnitedHealth is ""just kind of scratching the surface of the opportunity."" Workers were informed about the buyouts Monday during a meeting that lasted around 10 minutes and were told they will have the opportunity to ask questions in information sessions in the coming days, the people said. The buyouts follow the shooting of Thompson, which unleashed a torrent of pent-up anger and resentment toward the insurance industry and renewed calls for reform. That came only months after Change Healthcare, which processes medical claims, was hit by a cyberattack in February 2024 that compromised the protected health information of around 190 million people. UnitedHealth Group has paid out more than $3 billion to providers affected by the cyberattack. UnitedHealth Group also laid off workers in its Optum health services division last year. Shares of the company closed up 2% on Wednesday.",CNBC,19/02/2025,"['In this articleUnitedHealthcare is offering certain employees in its benefits operations unit the option to accept buyouts if they quit by March 3, following a tumultuous year for the insurance giant, CNBC has learned.', ""Those who don't accept the offer will continue in either their current role or a comparable position, two people familiar with the matter told CNBC."", 'If the company does not meet a resignation quota through buyouts, it will lay off employees, the people said, citing an internal resource site.', 'The company declined to share how many employees received buyout offers under the so-called Voluntary Resignation Separation Program.', ""The benefits operations unit oversees multiple subdivisions that help manage customer service, claims, enrollment, customers' insurance benefits and more, one person said."", 'UnitedHealthcare, the insurance arm of UnitedHealth Group, is the largest private health insurer in the U.S. UnitedHealth Group had more than 440,000 employees as of December 2023, but it does not disclose how many people work in its benefits segment or overall insurance business.', 'UnitedHealth Group is the biggest health-care conglomerate in the U.S. based on revenue and its roughly $460 billion market cap, but it has tried to cut costs as medical expenses increase for Medicare Advantage beneficiaries and it deals with the fallout from the costly cyberattack against its subsidiary Change Healthcare.', 'It has also faced renewed anger over high health-care costs in the U.S., following the killing of its insurance unit CEO Brian Thompson in December.', 'Employees eligible for the buyouts include full-time or part-time U.S. workers assigned to four internal segments under benefits operations, including corporate, consumer operations, core services and provider services, according to an internal memo sent Monday and viewed by CNBC.""This voluntary option is part of our ongoing efforts to ensure our team is best positioned to meet the evolving needs of the people and customers we are honored to serve,"" a UnitedHealth spokesperson told CNBC in a statement. ""', ""We continue to grow our workforce with more than 3,200 positions currently available on UnitedHealth Group's careers site."", '""The company expects employees\' termination date to be no sooner than May 1, according to the memo.', 'The memo said some employees who accept buyouts may need to work beyond that date, but the company does not expect to require them to work past Nov. 13.Their severance packages will depend on the number of years they have spent at the company and their salary grade, and will kick in on their termination date, the memo said.', 'The benefits provided to employees included in any potential future layoffs may not be ""as favorable"" as those offered to workers under the buyout program, according to the memo.', 'Workers who received the buyout offers are in shock, said the people familiar with the matter, especially after UnitedHealth Group reported its highest-ever annual revenue in 2024.', 'The company said in its January earnings release that it generated $400.3 billion in revenue in 2024, up 8% year over year.', 'UnitedHealth executives said during the company\'s fourth-quarter call in January that ""digital adoption"" helped the company lower costs.', 'CEO Andrew Witty called it a ""modernization agenda"" which includes but isn\'t limited to artificial intelligence.', 'He added that UnitedHealth is ""just kind of scratching the surface of the opportunity.', '""Workers were informed about the buyouts Monday during a meeting that lasted around 10 minutes and were told they will have the opportunity to ask questions in information sessions in the coming days, the people said.', 'The buyouts follow the shooting of Thompson, which unleashed a torrent of pent-up anger and resentment toward the insurance industry and renewed calls for reform.', 'That came only months after Change Healthcare, which processes medical claims, was hit by a cyberattack in February 2024 that compromised the protected health information of around 190 million people.', 'UnitedHealth Group has paid out more than $3 billion to providers affected by the cyberattack.', 'UnitedHealth Group also laid off workers in its Optum health services division last year.', 'Shares of the company closed up 2% on Wednesday.']",0.2134847735261157,"Employees eligible for the buyouts include full-time or part-time U.S. workers assigned to four internal segments under benefits operations, including corporate, consumer operations, core services and provider services, according to an internal memo sent Monday and viewed by CNBC.""This voluntary option is part of our ongoing efforts to ensure our team is best positioned to meet the evolving needs of the people and customers we are honored to serve,"" a UnitedHealth spokesperson told CNBC in a statement. ""","The buyouts follow the shooting of Thompson, which unleashed a torrent of pent-up anger and resentment toward the insurance industry and renewed calls for reform.",0.1756050537029902,"The company said in its January earnings release that it generated $400.3 billion in revenue in 2024, up 8% year over year.","It has also faced renewed anger over high health-care costs in the U.S., following the killing of its insurance unit CEO Brian Thompson in December.",2025-02-23