Category: Business

Kena Betancur | Corbis News | Getty Images Pfizer had a “phenomenal” first quarter — and Wall Street took notice, CEO Albert Bourla told thousands of employees during a companywide town hall on May 2, according to a recording heard by CNBC.  A day earlier, the pharmaceutical giant’s stock had closed 6% higher after its […]

A dog looks out the window from a Tesla electric vehicle charging at a Tesla Supercharger location in Santa Monica, California on May 15, 2024.  Patrick T. Fallon | AFP | Getty Images Tesla is losing its lead over legacy automakers in the quality of its new all-electric vehicles, according to an annual influential study […]

In an aerial view, a customer enters a Walgreens store on January 04, 2024 in San Pablo, California.  Justin Sullivan | Getty Images Shares of Walgreens plunged more than 14% on Thursday after the company reported fiscal third-quarter earnings that fell short of expectations and slashed its full-year adjusted profit outlook, citing a “challenging” environment […]

Denim is having a moment with consumers, but it hasn’t led to a major sales boost at Levi Strauss.  The jeans creator on Wednesday posted fiscal second-quarter revenue that fell just short of Wall Street’s expectations at a time when shoppers are stocking their wardrobes with denim dresses, skirts and ultra low-rise baggy pants.  Levi’s […]

A Southwest Airlines jet is parked Ellison Onizuka Kona International Airport at Kehole awaiting passengers on January 20, 2024 in Kailua-Kona, Hawaii. Kevin Carter | Getty Images Southwest Airlines shares fell roughly 4% in premarket trading on Wednesday after the carrier cut its second-quarter revenue forecast, citing changing booking patterns. Southwest expects revenue per available […]

Workers assemble second-generation R1 vehicles at electric automaker Rivian’s manufacturing facility in Normal, Illinois, on June 21, 2024. Joel Angel Juarez | Reuters Volkswagen Group plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion. The additional $4 billion is expected by 2026. It includes […]

The bar at the Delta One lounge at New York’s John F. Kennedy International Airport. Leslie Josephs | CNBC Delta Air Lines’ most exclusive airport lounge opens this week to travelers flying on the right ticket. The Delta One lounge at the carrier’s hub in John F. Kennedy International Airport will open Wednesday to customers […]

Novo Nordisk’s new manufacturing facility in Clayton, North Carolina. Courtesy: Novo Nordisk Novo Nordisk on Monday said it will spend $4.1 billion to build a new manufacturing plant in Clayton, North Carolina, in a bid to boost the supply of its blockbuster weight loss drug Wegovy, diabetes treatment Ozempic and other injectable therapies.  Demand for […]

Target is turning to Shopify to add new and trendier brands to its website. Starting Monday, the Minneapolis-based discounter said companies that work with Shopify can apply to join Target Plus, its third-party marketplace. Some of Shopify’s customers are smaller or up-and-coming brands that use the e-commerce platform to build and operate a website. Target […]

The Shein logo can be seen on a smartphone, while the Chinese online retailer’s website is open on a laptop.  Monika Skolimowska | Picture Alliance | Getty Images China-founded e-commerce company Shein’s hopes of going public in the United States are growing slimmer by the day, according to experts, as rising tensions between Beijing and […]