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Major CVS shareholder plans activist push, will meet with management, sources say
CVS Pharmacy logo is seen at store in Florida Keys, United States on May 7, 2024. Jakub Porzycki | Nurphoto | Getty Images Glenview Capital, a major CVS Health shareholder, is expected to meet with company leadership on Monday to lay out proposed fixes for the struggling business, according to people familiar with the matter, […]
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Stocks making the biggest moves midday: Wynn Resorts, Rocket Lab USA, Cassava Sciences and more
Check out the companies making headlines in midday trading: Bristol-Myers Squibb — The drug maker jumped more than 3% after the U.S. Food and Drug Administration approved a highly anticipated schizophrenia drug , the first novel type of treatment for the chronic mental disorder in more than seven decades. Bristol-Myers Squibb expects the twice-daily pill, […]
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Key Fed inflation gauge at 2.2% in August, lower than expected
A customer shops at a Whole Foods grocery store in Edgewater, N.J. on Sept. 11th, 2024. Adam Jeffery | CNBC Inflation moved closer to the Federal Reserve’s target in August, easing the way for future interest rate cuts, the Commerce Department reported Friday. The personal consumption expenditures price index, a measure the Fed focuses on […]
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OpenAI CFO tells investors funding round should close by next week despite executive departures
Key Points In an email to OpenAI’s investors, CFO Sarah Friar said the company still has a “talented leadership bench” following key departures this week. Friar also says its current funding round, which sources say values OpenAI at $150 billion, was oversubscribed and set to close next week. “Collectively, we remain laser-focused on bringing AI […]
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FDA approves Bristol Myers Squibb’s schizophrenia drug, the first new type of treatment in decades
Bristol Myers Squibb’s Cobenfy drug Courtesy: Bristol Myers Squibb The Food and Drug Administration on Thursday approved Bristol Myers Squibb‘s highly anticipated schizophrenia drug Cobenfy, the first novel type of treatment for the debilitating, chronic mental disorder in more than seven decades. Schizophrenia affects how a person thinks, feels and behaves, and can cause paranoia, […]
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Stocks making the biggest moves after hours: Micron Technology, H.B. Fuller and more
Check out the companies making headlines after the bell : Micron Technology — The semiconductor manufacturer soared 13% after issuing strong guidance for the current quarter. The company sees fiscal first-quarter adjusted earnings coming in at roughly $1.74 per share and revenue of around $8.70 billion. Analysts polled by LSEG called for earnings per share […]
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Stocks making the biggest moves midday: Flutter Entertainment, Hewlett Packard Enterprise and more
Check out the companies making headlines in midday trading: Flutter Entertainment — The sports betting stock rose more than 6% after the FanDuel parent announced a share buyback program of up to $5 billion. The company also forecasts total revenue growth of about $21 billion in 2027. Hewlett Packard Enterprise — The tech stock jumped […]
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Meet the Latin American e-commerce platform that’s outperforming Amazon this year
One of the world’s largest e-commerce companies is emerging as a top pick on Wall Street as investors look for tech opportunities beyond the Magnificent Seven. MercadoLibre, an Argentinian e-commerce and payments platform that’s incorporated in Delaware and actively traded on Nasdaq, is up 34% in 2024, compared to a roughly 27% rise for Amazon, […]
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Elliott to call for Southwest special meeting ‘as soon as next week’
A Southwest Airlines Boeing 737 departs Los Angeles International Airport en route to Las Vegas on September 19, 2024 in Los Angeles, California. Kevin Carter | Getty Images Elliott Management said Tuesday it will call a special meeting at Southwest Airlines “as soon as next week,” shortly after the company put forward a sweeping board shakeup […]
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Fed Governor Bowman explains dissent on rate vote, says she’s worried about inflation
Key Points Fed Governor Michelle Bowman said Tuesday she thought her colleagues should have taken a more measured approach to last week’s half percentage point interest rate cut. The jumbo cut “could be interpreted as a premature declaration of victory on our price-stability mandate,” she said in remarks to a bankers’ group in Kentucky. Source
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