Victoria’s Secret stock rallies as it names new chief executive from Rihanna’s Savage X Fenty
Apparel maker also hikes Q2 adjusted earnings target
Crypto magnate Chun Wang buys SpaceX polar spaceflight Fram2
SpaceX’s Crew Dragon capsule “Endurance” is seen during the Crew-3 mission for NASA on May 5, 2022. NASA Private polar expeditions are reaching a new level: Space. Cryptocurrency speculator Chun Wang bought a SpaceX multi-day flight for an undisclosed amount, the company announced on Monday, with plans to lead the first crewed space mission in […]
Justice Department considering breaking up Google, among other options: report
The Justice Department is weighing a potential breakup of Google, among other options, Bloomberg News reported on Tuesday.
Home Depot (HD) Q2 2024 earnings
Home Depot on Tuesday topped quarterly expectations, but cautioned that sales will be weaker than expected in the back half of the year as high interest rates and consumer uncertainty dampen demand. The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared with the prior fiscal year. […]
Starbucks replaces CEO Laxman Narasimhan with Chipotle CEO Brian Niccol
Starbucks announced Tuesday it’s replacing CEO Laxman Narasimhan with Chipotle CEO Brian Niccol, sending its stock soaring 24.5%, its best day ever. Chipotle’s stock fell over 10% on the news that Niccol would leave after a successful tenure at the burrito chain. Narasimhan’s departure is effective immediately. Starbucks CFO Rachel Ruggeri will step in as […]
Activist investor Elliott plans to start proxy fight with Southwest: report
A major activist investor with a big stake in Southwest Airlines Co. is escalating its fight with the air carrier, with plans to wage a proxy battle and nominate a slew of candidates to the company’s board, according to a report on Tuesday.
Wall Street cheers Brian Niccol appointment
Brian Niccol, CEO of Chipotle Anjali Sundaram | CNBC Wall Street believes Brian Niccol is the right choice to turn around Starbucks — and move the chain past the decadeslong Howard Schultz era. Starbucks tapped Niccol as its latest chief executive and chair on Tuesday. Niccol replaces Laxman Narasimhan, who took over the top job […]
Treasury yields end at lowest in a week after mild rise in July producer prices
Yields on U.S. government debt finished broadly lower on Tuesday after July’s muted producer-price index reinforced traders’ expectations for multiple interest-rate cuts into next year.
Fed interest rate cut may boost sales
A sign is seen posted on the exterior of a Home Depot store on February 21, 2023 in El Cerrito, California. Justin Sullivan | Getty Images Just like Wall Street, Home Depot is closely watching the Federal Reserve’s next move. In an interview with CNBC, Chief Financial Officer Richard McPhail said homeowners have postponed moving […]
Chipotle stock falls as CEO Brian Niccol leaves for Starbucks
Chipotle stock fell more than 10% Tuesday as the company announced CEO Brian Niccol would be leaving his role on Aug. 31 to become CEO of Starbucks. Niccol began as Chipotle CEO in March 2018. Chipotle stock has risen more than 770% since he took over. Chipotle’s board named Chief Operating Officer Scott Boatwright as […]
