Breaking News: Business
Virgin Orbit is assembling a fleet of 747 jets to launch more rockets into space
The modified 737 aircraft “Cosmic Girl” lifts off from Mojave Air and Space Port in California carrying a LauncherOne rocket on June 30, 2021. Virgin Orbit Virgin Orbit is assembling a fleet of modified 747 jets, the company announced Tuesday, ordering two new modified cargo airframes to help launch more rockets into space. The company […]
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National average for gasoline hits record $4.37 a gallon
The prices for gas and diesel fuel, over $6.00 a gallon, are displayed at a petrol station in Los Angeles, March 2, 2022. Frederic J. Brown | AFP | Getty Images Gasoline prices surged to the highest level on record Tuesday as oil holds steady above $100 a barrel, contributing to inflationary pressures across the […]
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Peloton reports big loss, offers weak guidance and taps banks for cash buffer
A Peloton stationary bike for sale at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021. Adam Glanzman | Bloomberg | Getty Images Peloton on Tuesday reported a wider-than-expected quarterly loss and a steep decline in sales, as inventories piled up in warehouses and ate away at the company’s cash. The connected […]
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AMC shares rise after results outpace Wall Street expectations
The AMC 25 Theatres in Times Square in New York is seen on Tuesday, July 8, 2014. Richard Levine | Corbis News | Getty Images Not even the tag-team of Spider-Man and Batman could make AMC Entertainment profitable during the first quarter. Still, shares of the movie theater chain rose more than 4% after hours […]
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Novavax posts first profitable quarter as Covid vaccine rolls out around the world
Rafael Henrique | LightRocket | Getty Images Novavax on Monday reported its first profitable quarter as its Covid vaccine rolls out across several countries around the world, though the company still missed earnings and revenue expectations. Novavax stock was down more than 8% in after hours trading. Novavax reported net income of $203 million in […]
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Goldman Sachs is shrinking its SPAC business amid regulatory crackdown and market turmoil
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, May 9, 2022. Brendan McDermid | Reuters Goldman Sachs is scaling back its business in the once red-hot SPACs as blank-check deals got caught in a double whammy of regulatory crackdown and tough market environment. “We are reducing our involvement […]
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U.S. will limit next generation Covid vaccines to high-risk people this fall if Congress doesn’t approve more funding
The U.S. will have to limit the next generation of Covid vaccines this fall to individuals at the highest risk of getting seriously sick from the virus if Congress fails to approve funding to purchase the new shots, according to a senior Biden administration official. The official, who spoke on condition of anonymity, warned that […]
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Rivian stock plummets as Ford unloads 8 million shares of EV start-up
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Shares of Rivian Automotive plummeted in premarket trading Monday following a CNBC report that Ford Motor is selling 8 million shares of the electric vehicle start-up. Rivian’s stock was down 19% in extended […]
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‘Doctor Strange in the Multiverse of Madness’ snares $185 million in domestic debut
Still from “Doctor Strange in the Multiverse of Madness.” Disney The summer blockbuster season has started with a bang. Disney’s latest Marvel Cinematic Universe flick “Doctor Strange in the Multiverse of Madness” snared $185 million domestically over its debut weekend, the highest haul of any movie released in 2022. “Nothing says movie theaters are back […]
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Disney investors are focused on streaming, but don’t forget about theme parks
Handout | Getty Images Entertainment | Getty Images LOS ANGELES – In April last year I took a stroll down an empty Main Street in Disneyland with the head of Walt Disney theme parks, Josh D’Amaro. The California park was a week from opening after more than a year of being shuttered due to Covid-19 […]
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