American Airlines is significantly reducing its capacity growth for the latter half of the year and making several strategic changes following a disappointing financial forecast and the departure of its Chief Commercial Officer, Vasu Raja. CEO Robert Isom announced that American’s capacity will increase by only 3.5% in the second half of the year compared… Continue reading American shares tumble 15% after sales strategy backfires; carrier cuts growth

Elliott Management, a prominent $65 billion hedge fund known for its activist strategies, has made a significant $2.5 billion investment in Texas Instruments (TI) and is advocating for changes to improve the company’s free cash flow. In a detailed 13-page letter viewed by CNBC, Elliott proposes that TI adopt a “dynamic capacity-management strategy” aimed at… Continue reading Activist Elliott takes $2.5 billion stake in Texas Instruments, urges company to improve free cash flow

Shares of U.S. Cellular surged nearly 6% on Tuesday following T-Mobile’s announcement of a $4.4 billion acquisition plan. T-Mobile intends to acquire a substantial portion of U.S. Cellular, including its retail stores, some spectrum assets, and its customer base. The deal comprises cash and up to $2 billion in debt, with up to $100 million… Continue reading T-Mobile to acquire most of U.S. Cellular in $4.4 billion deal; U.S. Cellular shares surge

JPMorgan Chase’s chairman and CEO, Jamie Dimon, expressed concerns that a “hard landing” for the U.S. economy cannot be ruled out, emphasizing the historical precedent for economic downturns. Speaking at the JPMorgan Global China Summit in Shanghai, Dimon highlighted the possibility of stagflation—a scenario where inflation continues to rise while economic growth slows and unemployment… Continue reading JPMorgan CEO Jamie Dimon says can’t rule out ‘hard landing’ for the U.S., stagflation will be ‘worst outcome’

The U.S. Department of Justice (DOJ) has filed a lawsuit against Live Nation, the parent company of Ticketmaster, accusing it of antitrust violations. This action, joined by 30 states, follows a DOJ investigation initiated in 2022 after fan complaints regarding the problematic ticket sales for Taylor Swift’s Eras tour. Attorney General Merrick Garland stated that… Continue reading Justice Department sues to break up Live Nation, parent of Ticketmaster

In April, sales of previously owned homes decreased by 1.9% from March, totaling 4.14 million units on a seasonally adjusted annualized basis, according to the National Association of Realtors. This decline contrasts with forecasts predicting a slight increase. Compared to April 2023, sales also dropped by 1.9%. These figures are based on contract closings likely… Continue reading Home sales slipped unexpectedly in April, despite big gains in supply

Former GOP presidential hopeful Vivek Ramaswamy has acquired an 8% stake in BuzzFeed and aims to influence the media firm’s strategy, as detailed in a recent regulatory filing. Ramaswamy, a wealthy conservative and founder of Strive Asset Management, plans to engage in discussions with BuzzFeed’s management about all aspects of the company’s operations, including a… Continue reading Vivek Ramaswamy Buzzfeed stake sends shares up 20%, seeking strategic ‘shift’

Federal Reserve Governor Christopher Waller, in a speech delivered to the Peterson Institute for International Economics in Washington, indicated that he does not foresee the necessity for further interest rate hikes, citing recent data showing signs of easing inflation. However, Waller, known for his hawkish stance favoring tighter monetary policy, expressed caution about reducing rates… Continue reading Fed Governor Waller wants ‘several months’ of good inflation data before lowering rates

Nestle is launching a new frozen-food brand called Vital Pursuit, targeting consumers who use GLP-1 drugs like Ozempic and Wegovy. These weight loss and diabetes medications have gained significant popularity, partly due to endorsements from celebrities like Oprah Winfrey and Elon Musk. According to a survey by the health policy research organization KFF, about one… Continue reading Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users

Warren Buffett’s Berkshire Hathaway has revealed a significant new stock acquisition in a recent regulatory filing, disclosing that it has purchased nearly 26 million shares of the Zurich-based insurer Chubb, valued at $6.7 billion. This investment has positioned Chubb as Berkshire’s ninth largest holding as of the end of March. Following the announcement, Chubb’s shares… Continue reading Warren Buffett’s Berkshire Hathaway reveals insurer Chubb as confidential stock it’s been buying

Walmart reported strong quarterly earnings and revenue that exceeded expectations, driven by significant gains in e-commerce, new business ventures like advertising, and an influx of higher-income shoppers. The retailer now anticipates reaching or slightly surpassing its previous full-year guidance, with projected net sales growth of 3% to 4% and adjusted earnings per share between $2.23… Continue reading Walmart surges to all-time high as earnings beat on high-income shopper, e-commerce gains

The S&P 500 and Nasdaq Composite reached record highs on Wednesday, propelled by a U.S. consumer inflation report that was milder than anticipated. The broad market index increased by 0.9%, the Nasdaq by 0.1%, and the Dow Jones Industrial Average surged by 271 points or 0.7%, nearing an all-time high. The Consumer Price Index (CPI)… Continue reading S&P 500, Nasdaq rise to all-time highs after light consumer inflation report: Live updates