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   NEWS: CNBC BUSINESS
CNBC Business
May 08, 2024

Summer box office bust? This season's movie slate could put up the lowest haul in decades
This summer's box office, hampered by dual Hollywood labor strikes, could have the lowest movie ticket haul since 2000.

CNBC Business
May 07, 2024

Oddity Tech says it's bucking the beauty slowdown Ulta warned about
Beauty stocks fell last month after Ulta CEO Dave Kimbell said beauty demand was cooling, but cosmetics upstart Oddity Tech said the industry is just changing.

CNBC Business
May 07, 2024

Disney says streaming is nearly breakeven, but shares sink 10% on soft guidance
Disney reported a loss of just $18 million in its direct-to-consumer businesses as earnings topped analyst estimates.

CNBC Business
May 07, 2024

New York tops the list of the 50 richest cities in the world
The U.S. is increasing its lead as the largest creator of millionaires and billionaires in the world.

CNBC Business
May 07, 2024

Amgen, newer rivals could threaten Novo Nordisk and Eli Lilly's weight loss drug dominance
Amgen, Viking Therapeutics, Altimmune, AstraZeneca, Boehringer Ingelheim and Zealand Pharma are making encouraging progress on their own treatments.

CNBC Business
May 07, 2024

The streaming future Disney promised is finally here as cable TV decays
Disney's second-quarter results showed an improving streaming business and a rapidly declining linear TV unit

CNBC Business
May 07, 2024

Private equity firms circle Peloton for potential buyout
Private equity firms have been circling Peloton for a potential buyout as it grapples with slowing sales and losses.

CNBC Business
May 07, 2024

Life Time fitness leans into pickleball with Lululemon partnership, new courts and more
The upscale fitness company is trying to grow its brand by investing in America's fastest-growing sport, pickleball.

CNBC Business
May 07, 2024

Disney earnings top analyst estimates as streaming nearly breaks even in the quarter
Disney reported a loss of just $18 million in its direct-to-consumer businesses as earnings topped analyst estimates.

CNBC Business
May 07, 2024

Ahead of retail earnings, here's what we know about the consumer so far
Home Depot and Walmart kick off first-quarter retail earnings next week.

CNBC Business
May 07, 2024

Disney quarterly results are on deck. Here's what to expect
This will be the company's first earnings call since it won a proxy fight against Trian Partners.

CNBC Business
May 06, 2024

Dozens of former employees plan to sue Bowlero alleging discrimination after EEOC closes case, lawyer says
Dozens of former employees plan to sue Bowlero for discrimination and retaliation after the EEOC declined to bring a lawsuit against the company.

CNBC Business
May 06, 2024

Citigroup CEO Jane Fraser says low-income consumers have turned far more cautious with spending
Citigroup CEO Jane Fraser joined CNBC's Sara Eisen on Monday for an interview on the economy.

CNBC Business
May 06, 2024

Equinox launches $40,000 membership to help you live longer
"Optimize by Equinox" is a personalized health program that includes everything from personal training and nutrition to sleep coaching and massage therapy.

CNBC Business
May 06, 2024

Ex-CEO Howard Schultz says Starbucks needs to revamp its stores after big earnings miss
In its latest quarter, Starbucks reported a surprise decline in same-store sales and slashed its full-year forecast.

CNBC Business
May 06, 2024

Howard Schultz says Starbucks needs to revamp its stores after big earnings miss
In its latest quarter, Starbucks reported a surprise decline in same-store sales and slashed its full-year forecast.

CNBC Business
May 04, 2024

Star Wars was the first Lego license — 25 years later, it's stronger than ever
The Star Wars license was the first of its kind for Lego. Now, it has become a blueprint for the company's other brand deals.

CNBC Business
May 03, 2024

Dave & Buster's plan to allow betting on arcade games draws scrutiny
An Illinois lawmaker is proposing legislation to prevent wagering at family entertainment venues, saying such companies don't have proper safeguards in place.

CNBC Business
May 03, 2024

Berkshire Hathaway's big mystery stock wager could be revealed soon
Warren Buffett's bet, shrouded in mystery, has captivated Berkshire Hathaway investors since first appearing in disclosures late last year.

CNBC Business
May 03, 2024

Immigrant workers are helping boost the U.S. labor market
The government predicts that the influx of immigrant workers will grow gross domestic product over the next decade by $7 trillion.

CNBC Business
May 03, 2024

Talent war between family offices and Wall Street drives up salaries
Wealthy families are spending an average of $3 million to run their family offices, according to a J.P. Morgan Private report, and the biggest cost is staffing.

CNBC Business
May 03, 2024

Skydance bid for Paramount hinges on Shari Redstone as special committee ends exclusive talks
Skydance is likely to walk away from its Paramount offer unless controlling shareholder Shari Redstone reaffirms her commitment following the Apollo-Sony bid.

CNBC Business
May 03, 2024

Amgen stock soars on weight loss injection progress as Novo Nordisk, Eli Lilly shares slide
Amgen's update fueled concerns about potential new competition in the weight loss drug market, sending shares of Novo Nordisk and Eli Lilly lower.

CNBC Business
May 02, 2024

Amgen scraps experimental weight loss pill, moves forward with injection
Amgen is among several drugmakers racing to join the red-hot weight loss drug space dominated by Novo Nordisk and Eli Lilly.

CNBC Business
May 02, 2024

Wayfair shares surge after furniture retailer cuts losses by more than $100 million
Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.

CNBC Business
May 02, 2024

Sony and Apollo send letter expressing interest in $26 billion Paramount buyout as company mulls Skydance bid
Sony and Apollo expressed formal interest in a Paramount Global buyout as Paramount's special committee is prepared to give its recommendation to Skydance.

CNBC Business
May 02, 2024

Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt
Peloton announced Thursday that CEO Barry McCarthy will be stepping down just over two years after he took over from founder John Foley.

CNBC Business
May 02, 2024

Wayfair shares surge 10% after furniture retailer cuts losses by more than $100 million
Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.

CNBC Business
May 02, 2024

Wayfair shares surge 17% after furniture retailer cuts losses by more than $100 million
Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.

CNBC Business
May 02, 2024

Moderna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold
The company reiterated its full-year 2024 sales guidance of roughly $4 billion, which includes revenue from the expected launch of its RSV vaccine.

CNBC Business
May 01, 2024

Viking shares rise 8% after cruise line operator's market debut
The company's initial public offering coincides with a strong rebound in cruise bookings.

CNBC Business
May 01, 2024

Carvana shares spike 30% as used car retailer posts record first quarter
Carvana reported record first-quarter results Wednesday that beat Wall Street's top- and bottom-line earnings expectations for the online used car retailer.

CNBC Business
May 01, 2024

Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's
Starbucks, Pizza Hut and KFC are among the chains that reported same-store sales declines this quarter.

CNBC Business
May 01, 2024

Bally Sports regional networks go dark for Comcast cable customers
Carriage negotiations between Comcast and Diamond Sports broke down, leaving cable customers without access to Bally Sports regional networks during MLB season.

CNBC Business
May 01, 2024

Pfizer beats earnings estimates, raises outlook on cost cuts and smaller-than-feared drop in Covid drug sales
The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.

CNBC Business
May 01, 2024

Viking shares rise more than 10% after cruise line operator's market debut
The company's initial public offering coincides with a strong rebound in cruise bookings.

CNBC Business
May 01, 2024

CVS shares plummet as health company slashes profit outlook on higher medical costs
CVS and other insurers have seen medical costs spike as many Medicare Advantage patients return to hospitals to undergo procedures they delayed during Covid.

CNBC Business
May 01, 2024

NYCB shares jump 30% after CEO gives two-year plan for 'clear path to profitability'
CEO Joseph Otting took over NYCB in April after an investor group led by former Treasury Secretary Steven Mnuchin injected more than $1 billion into the lender.

CNBC Business
May 01, 2024

CVS shares plummet 18% as health company slashes profit outlook on higher medical costs
CVS and other insurers have seen medical costs spike as many Medicare Advantage patients return to hospitals to undergo procedures they delayed during Covid.

CNBC Business
May 01, 2024

Johnson & Johnson to pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.
The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management.

CNBC Business
May 01, 2024

Pfizer beats revenue estimates, raises profit outlook on cost cuts and smaller-than-feared drop in Covid drug sales
The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.

CNBC Business
May 01, 2024

Pfizer beats revenue estimates, raises profit outlook on cost cuts and strong non-Covid sales
The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.

CNBC Business
May 01, 2024

CVS posts big earnings miss, cuts profit outlook on higher medical costs
CVS and other insurers have seen medical costs spike as many Medicare Advantage patients return to hospitals to undergo procedures they delayed during Covid.

CNBC Business
May 01, 2024

Johnson & Johnson will pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.
The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management.

CNBC Business
May 01, 2024

Yum Brands earnings miss estimates as Pizza Hut, KFC sales disappoint
KFC and Pizza Hut reported same-store sales declines, while Taco Bell's same-store sales rose just 1%.

CNBC Business
May 01, 2024

To train car dealers on EVs and other topics, Ford turns to gamification and AI-powered education
Dealership employees, who are employed outside Ford by dealers, are crucial for the company's sales, performance and customer engagement and satisfaction.

CNBC Business
Apr 30, 2024

Starbucks shares sink 12% as coffee chain slashes 2024 forecast amid same-store sales drag
Across all regions, Starbucks reported shrinking same-store sales and falling traffic.

CNBC Business
Apr 30, 2024

Starbucks shares sink 10% as same-store sales fall, quarterly results miss
Starbucks reported earnings after the bell. Here are the results.

CNBC Business
Apr 30, 2024

NBC Sports could buy back rights to iconic theme song 'Roundball Rock' if it airs NBA games again, composer John Tesh says
NBC Sports can license the rights to John Tesh's famous "Roundball Rock" theme song if it secures a new NBA media package, Tesh said in an e-mail.

CNBC Business
Apr 30, 2024

FTC challenges 'junk' patents held by 10 drugmakers, including for Novo Nordisk's Ozempic
The agency sent letters to Novo Nordisk, AstraZeneca, Boehringer Ingelheim, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals, among others.

CNBC Business
Apr 30, 2024

Home prices soar even higher in February, despite higher mortgage rates, says S&P Case-Shiller
It marked another increase after the prior month's annual gain of 6%, and the fastest rate of price growth since November 2022.

CNBC Business
Apr 30, 2024

McDonald's earnings miss estimates as diners pull back, Middle East boycotts hit sales
McDonald's shares have fallen 7.5% over the last year, dragging its market value down to $197 billion.

CNBC Business
Apr 30, 2024

Coca-Cola tops earnings estimates, hikes revenue outlook on higher prices
Shares of Coke have fallen 3.5% over the last year, dragging the company's market value down to $267 billion.

CNBC Business
Apr 30, 2024

Eli Lilly beats on quarterly profit, hikes full-year guidance on strong sales of Zepbound, Mounjaro
Zepbound reported $517.4 million in sales for the quarter, even as most doses of the drug slipped into shortages in the U.S.

CNBC Business
Apr 30, 2024

McDonald's earnings miss estimates as boycotts weigh on Middle Eastern sales
McDonald's shares have fallen 7.5% over the last year, dragging its market value down to $197 billion.

CNBC Business
Apr 30, 2024

Walmart to shutter health centers, virtual care service in latest failed push into health care
Walmart said clinics are not a sustainable business model due to a challenging reimbursement environment for primary care and increasing operating costs.

CNBC Business
Apr 30, 2024

Coca-Cola earnings are out - Here are the numbers
Shares of Coke have fallen 3.5% over the last year, dragging the company's market value down to $267 billion.

CNBC Business
Apr 30, 2024

Burger King invests another $300 million to remodel restaurants
The restaurant company is planning to spend $2.2 billion to revive Burger King's U.S. business.

CNBC Business
Apr 30, 2024

Dave & Buster's to allow customers to bet on arcade games
One of the largest entertainment operators in the country, Dave & Buster's, will allow its loyalty customers to compete against one another on its app.

CNBC Business
Apr 30, 2024

Walmart launches new grocery brand, as it tries to hang on to inflation-fueled growth
The nation's largest grocer sees room to build on its inflation-fueled grocery gains.

CNBC Business
Apr 30, 2024

McDonald's is about to report earnings. Here's what to expect
McDonald's shares have fallen 7.5% over the last year, dragging its market value down to $197 billion.

CNBC Business
Apr 29, 2024

Judge rejects J&J, Bristol Myers Squibb challenges to Medicare drug-price negotiations
The decision is another win for the Biden administration in a bitter legal fight with several drugmakers over the constitutionality of the price talks.

CNBC Business
Apr 29, 2024

Paramount says CEO Bob Bakish is stepping down, will be replaced by a trio of executives
Paramount Global CEO Bob Bakish is out, the company announced Monday, as merger negotiations with Skydance Media continue.

CNBC Business
Apr 29, 2024

Skydance extends final offer to Paramount as merger talks stick on a possible shareholder vote
Paramount Global is set to remove Bob Bakish as CEO on Monday; Skydance makes its best and final offer.

CNBC Business
Apr 29, 2024

Peacock streaming subscription prices to increase by $2 ahead of the Summer Olympics
Comcast's streaming service Peacock will see a price increase of $2 this summer.

CNBC Business
Apr 29, 2024

Family offices are looking beyond the stock market for higher returns, new report finds
Unlike stocks, alternatives such as private equity and private companies have more gradual valuation changes, smoothing out volatility.

CNBC Business
Apr 29, 2024

Pittsburgh Pirates, Penguins launch streaming service for local games
The regional sports network that airs Pirates and Penguins game is launching a streaming service priced at $17.99 a month.

CNBC Business
Apr 29, 2024

Shari Redstone is playing M&A war games with removal of Paramount CEO Bob Bakish
Paramount Global is set to remove Bob Bakish as CEO on Monday, putting shareholders to the test on how they want to see the company proceed.

CNBC Business
Apr 26, 2024

American Airlines cuts some international flights into 2025, citing Boeing delivery delays
American is the latest carrier to tweak its growth plan, citing late-arriving planes from Boeing.

CNBC Business
Apr 26, 2024

A CVS Health pharmacy in Vegas becomes first to join new national pharmacy union
Dozens of pharmacy staff at the Las Vegas branch of CVS's Omnicare will now join the Pharmacy Guild, which will represent them in labor negotiations with CVS.

CNBC Business
Apr 26, 2024

American Airlines cuts some international flights into 2025 citing Boeing delivery delays
American is the latest carrier to tweak its growth plan, citing late-arriving planes from Boeing.

CNBC Business
Apr 26, 2024

A CVS pharmacy in Vegas becomes first to join new national pharmacy union
Nearly 30 pharmacy staff at the Las Vegas branch of CVS's Omnicare will now join The Pharmacy Guild, which will represent them in labor negotiations with CVS.

CNBC Business
Apr 26, 2024

Starbucks, Workers United made 'significant progress' in this week's contract talks
Starbucks and the union plan to meet again in late May to keep working on the framework that will inform every single-store contract.

CNBC Business
Apr 26, 2024

The new class war: A wealth gap between millennials
The surge in wealth among millennial heirs is creating new markets for wealth-management firms, luxury companies, travel firms and real estate brokers.

CNBC Business
Apr 26, 2024

FDA approves Pfizer's first gene therapy for rare inherited bleeding disorder
The agency greenlit the drug, which will be marketed as Beqvez, for adults with moderate to severe hemophilia B.

CNBC Business
Apr 25, 2024

Paramount and Skydance inch closer to a merger as key hurdle looms, sources say
Paramount Global and Skydance are getting closer to final terms on a merger agreement, sources told CNBC, but a renewal with Charter remains an obstacle.

CNBC Business
Apr 25, 2024

Paramount and Skydance inch closer to a merger as key hurdle looms
Paramount Global and Skydance are getting closer to final terms on a merger agreement, but a renewal with Charter remains an obstacle.

CNBC Business
Apr 25, 2024

Professional pickleball signs first international deal, looks to grow the sport in India
Pro pickleball is looking to world's most populous country for its continued growth.

CNBC Business
Apr 25, 2024

Honda to build $11 billion electric vehicle hub in Canada
Honda and its joint venture partners plan to invest $11 billion in Ontario, Canada to create a "comprehensive EV value chain," the Japanese automaker announced.

CNBC Business
Apr 25, 2024

Open seating no more? Southwest CEO says airline is weighing cabin changes
Southwest stands apart from other large airlines because it does not have seat assignments.

CNBC Business
Apr 25, 2024

Bristol Myers Squibb beats on revenue, launches $1.5 billion cost cuts as it posts quarterly loss
Bristol Myers Squibb said the charges primarily reflect its acquisition of Karuna Therapeutics and collaboration agreement with SystImmune.

CNBC Business
Apr 25, 2024

American Airlines swings to a loss, but tops estimates for Q2 forecast
American Airlines swung to a loss in the first quarter, but its forecast for the current period surpassed analysts' estimates.

CNBC Business
Apr 25, 2024

Southwest cuts growth plans, warning effect of Boeing airplane delays will last into 2025
Southwest Airlines is one of Boeing's biggest customers and flies only 737s.

CNBC Business
Apr 25, 2024

Comcast beats earnings estimates even as it sheds more broadband subscribers
Comcast will report first-quarter earnings before the bell. Wall Street will be paying attention to broadband and Peacock subscriber numbers.

CNBC Business
Apr 25, 2024

Red Lobster seeks a buyer as it looks to avoid bankruptcy filing
Beleaguered seafood chain Red Lobster is looking for a buyer to avoid filing for bankruptcy as it contends with slower sales and costly leases.

CNBC Business
Apr 25, 2024

Merck beats earnings expectations, raises outlook on strong Keytruda and vaccine sales
The first-quarter results come as Merck shows substantial progress in preparing for Keytruda's patent expiration in 2028.

CNBC Business
Apr 25, 2024

Walgreens to help bring cell and gene therapies to patients as it expands specialty pharmacy services
Among the company's investments to "transform" its specialty pharmacy services is the opening of a new facility dedicated to cell and gene therapy services.

CNBC Business
Apr 24, 2024

Chipotle abandons Farmesa Fresh Eatery spinoff after ghost kitchen closes
A little over a year ago, Chipotle announced the opening of its first Farmesa location.

CNBC Business
Apr 24, 2024

JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank
The escalation shows how American banks are struggling to navigate American sanctions rules more than two years after Russia's invasion of Ukraine.

CNBC Business
Apr 24, 2024

Chipotle posts big earnings beat as diners shake off higher prices
The burrito chain said traffic increased 5.4% in its first quarter.

CNBC Business
Apr 24, 2024

Ford tops first-quarter earnings estimates as commercial unit offsets EV losses
Sales of Ford Motor trucks and other commercial vehicles led the automaker to beat Wall Street's earnings estimates for the first quarter.

CNBC Business
Apr 24, 2024

Chipotle reports big earnings beat, and its shares are jumping
The burrito chain said traffic increased 5.4% in its first quarter.

CNBC Business
Apr 24, 2024

Ford is set to report earnings after the bell. Here's what Wall Street expects
In addition to financial results, investors will be watching for progress in CEO Jim Farley's "Ford " restructuring plan and any changes to its EV rollout.

CNBC Business
Apr 24, 2024

Biogen tops profit estimates as cost cuts take hold, Alzheimer's drug Leqembi launch picks up
Alzheimer's drug Leqembi brought in approximately $19 million in sales for the quarter, up from the $10 million the drug generated last year.

CNBC Business
Apr 24, 2024

Boeing reports better-than-feared quarter, says supply chain is stabilizing amid 737 Max crisis
Boeing has been mired in a safety crisis since a door plug blew off a 737 Max 9 in early January.

CNBC Business
Apr 24, 2024

Foot Locker debuts 'store of the future' as it looks to win back Wall Street's confidence
Foot Locker unveiled its "store of the future" concept that will inspire the revamping of 900 stores the sneaker retailer is planning over the next two years.

CNBC Business
Apr 24, 2024

Starbucks resumes bargaining with union after two sides thaw relationship
In February, Starbucks and Workers United said they found a "constructive path forward," marking a major strategic pivot for the coffee giant.

CNBC Business
Apr 24, 2024

Biogen tops quarterly profit estimates as cost cuts take hold, Leqembi launch picks up
Alzheimer's drug Leqembi brought in in approximately $19 million in sales for the quarter, up from the $10 million the drug generated last year.

CNBC Business
Apr 24, 2024

More than 3 million Medicare patients could be eligible for coverage of Wegovy to reduce heart disease risks, study says
For the first time, some Medicare beneficiaries will be able to access Novo Nordisk's Wegovy without having to shoulder the total monthly price tag.

CNBC Business
Apr 24, 2024

Boeing reports quarterly results before the bell. Here's what Wall Street expects
Boeing has been mired in a safety crisis since a door plug blew off a 737 Max 9 in early January.

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