Month: August 2024
Alaska Airlines flight attendants reject new contract, union says there’s ‘more work to do’
An Alaska Airlines Boeing 737-900ER aircraft on the tarmac at Seattle-Tacoma International Airport (SEA) in Seattle, Washington, US, on Monday, Jan. 22, 2024. David Ryder | Bloomberg | Getty Images Alaska Airlines flight attendants rejected a new labor deal that would have come with immediate raises averaging more than 24%, their union said Wednesday, setting […]
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How Elliott’s monthslong Starbucks campaign got it a better deal than it asked for
People seen around the Starbucks coffee store in Shenzhen, China. Jakub Porzycki | Nurphoto | Getty Images In May, it was a $2.5 billion stake in Texas Instruments and a $1 billion-plus position at Johnson Controls. In June came a $2 billion stake in Southwest Airlines and an equally large investment in Japanese conglomerate SoftBank. […]
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Stocks making the biggest moves after hours: Cisco, Ulta, Nike and more
Check out the companies making headlines in after-hours trading. Cisco Systems — The stock jumped 6% after the networking company reported an earnings and revenue beat for its fiscal fourth quarter, and also issued an optimistic forecast. Cisco posted adjusted earnings of 87 cents per share on revenue of $13.64 billion, while analysts polled by […]
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FTC bans fake online reviews, inflated social media influence; rule takes effect in October
Federal Trade Commission Chair Lina Khan testifies during a hearing of the House Appropriations Subcommittee on Financial Services and General Government, May 15, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty Images The Federal Trade Commission on Wednesday voted unanimously to ban marketers from using fake reviews, such as those generated with AI technology, […]
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Cisco cutting 7% of workforce, reports earnings and revenue beat for quarter
Cisco CEO Chuck Robbins participates at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2023. Hollie Adams | Bloomberg | Getty Images Cisco shares popped in extended trading on Wednesday after the networking company said it’s cutting 7% of its global workforce and reported quarterly results that topped analysts’ estimates. Here are the […]
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Warren Buffett’s Berkshire Hathaway builds new stakes in Ulta Beauty, Heico
Warren Buffett’s Berkshire Hathaway took small stakes in beauty retailer Ulta Beauty as well as electronics and aerospace firm Heico last quarter, according to its latest 13F regulatory filing . The Omaha-based conglomerate unveiled a $266 million bet in Ulta Beauty and a $186 million stake in Heico. The positions are relatively minor for Berkshire, […]
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WHO declares mpox a global public health emergency for second time in two years
A woman holds a syringe with a dose of the Monkeypox vaccine at the Edison municipal vaccination centre in Paris, France July 27, 2022. Alain Jocard | Pool | Reuters The World Health Organization on Wednesday declared mpox a global public health emergency for the second time in two years, following an outbreak of the […]
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Trump looks to sharpen his edge on the economy in battleground North Carolina
Republican presidential candidate and former U.S. President Donald Trump arrives to cast his ballot for early voting in Florida’s primary election in West Palm Beach, Florida, U.S. August 14, 2024. Marco Bello | Reuters Republican presidential nominee Donald Trump will paint a bleak picture of the U.S. economy in a speech Wednesday, and blame it […]
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A U.S. construction boom is sending rents lower and creating perks for renters
Aleksandarnakic | E+ | Getty Images A construction boom in the U.S. has resulted in lower rents and other benefits for renters. Record-construction activity since the pandemic has increased the supply of empty units, meaning more inventory is available for renters. More multi-family units were completed in June than in any month in nearly 50 […]
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Michael Burry of ‘The Big Short’ fame made Chinese internet companies his top bets last quarter
Michael Burry, best known for calling the subprime mortgage crisis, reshuffled his investment portfolio last quarter, making Chinese internet stocks among his top holdings, according to a new regulatory filing released Wednesday. Burry’s hedge fund, Scion Asset Management, increased its bet on Alibaba in the second quarter, making it his biggest holding, worth more than […]
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