Year: 2024
Darden Restaurants’ sales rise 6%, fueled by Olive Garden and LongHorn Steakhouse
A sign hangs on the front of an Olive Garden restaurant on June 22, 2023 in Chicago, Illinois. Scott Olsen | Getty Images Darden Restaurants on Thursday reported quarterly earnings and revenue that met analysts’ expectations and better-than-expected same-store sales growth at Olive Garden and LongHorn Steakhouse. Shares of the company rose 8% in premarket trading. Here’s […]
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What the top 75 college sports programs are worth
With major college sports programs collectively generating billions in revenue each year, private investors are looking to get a piece of the action. But how much is a college sports program worth? It’s a question CNBC set out to answer after speaking with people in the private equity world who are seeking to invest in […]
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Stocks making the biggest moves premarket: Micron, Lamb Weston, Darden, Lennar, Carmax and more
Check out the companies making headlines before the bell. Micron — The chip stock plunged nearly 13% in premarket trading after the chipmaker issued weaker-than-expected second-quarter guidance. First-quarter revenue was inline with analysts’ expectations, while earnings topped estimates, however. Lamb Weston — Shares of the frozen potato maker sank 18% after posting quarterly results that fell […]
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Malls are using new restaurants to draw consumers as shopping centers reinvent themselves
Editor’s note: This is the third story in a three-part CNBC series about the future of U.S. shopping malls, as developers transform the spaces to add new retailers, experiences and even apartments. Read the first and second parts. Malls used to be the destination for the buzziest stores. Now they’re home to the hottest restaurants. The […]
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Bank of England holds interest rates at 4.75% after inflation uptick
The Bank of England pictured in December 2024. Sopa Images | Lightrocket | Getty Images LONDON — The Bank of England on Thursday ended its last meeting of the year with a decision to leave interest rates unchanged, after U.K. inflation rose to an eight-month high. Economists had widely expected a rate hold at the […]
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How Vuori reached a $5.5 billion valuation by taking share from Lululemon
When athleisure brand Vuori launched in 2015, it was headquartered in a garage, sold only men’s shorts and couldn’t get investors to give it the time of day. Now, the Carlsbad, California, retailer is expanding globally, backed by a string of marquee investors including General Atlantic, SoftBank and Norwest Venture Partners, after raising $825 million […]
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Putin admits Russian inflation is an ‘alarming signal’ and the economy is ‘overheating’
Russian President Vladimir Putin attends an annual televised phone-in with the country’s citizens dubbed “Direct Line with Vladimir Putin” at the Moscow’s World Trade Center studio in Moscow on June 30, 2021. Sergei Savostyanov | Afp | Getty Images Russian President Vladimir Putin on Thursday said that inflation is a problem facing Russia, and that […]
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Private equity looks to buy in to college sports
There’s a mad dash for cash in college sports. Between multibillion-dollar television deals, the institution of the transfer portal and the escalation of NIL —name, image and likeness — deals for athletes, college athletic programs, particularly football, have never looked more lucrative. Now private equity and venture capital enterprises such as College Sports Tomorrow, Smash […]
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European markets expected to nosedive after Fed signals fewer rate cuts ahead; BOE decision in focus
European markets are expected to nosedive at the open Thursday, following their global counterparts lower after the U.S. Federal Reserve signalled yesterday that few rates cuts are on the horizon. The U.K.’s FTSE 100 index is expected to open 84 points lower at 8,105, Germany’s DAX down 265 points at 19,993, France’s CAC down 105 points […]
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CNBC Daily Open: Thwarted expectations of more Fed cuts hammered markets
Traders work at the New York Stock Exchange on Dec. 17, 2024. NYSE This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. What you need to […]
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