Charlie Ergen, chairman and co-founder of Dish Network Corp. Jonathan Alcorn | Bloomberg | Getty Images Charlie Ergen is getting close to selling the pay-TV business he founded more than 40 years ago. EchoStar is in advanced talks to sell satellite TV provider Dish Network to rival DirecTV, the closely held pay TV operator owned … Read more
Fast-casual Mediterranean chain Cava has had an impressive year since going public in June 2023. It posted a profit in its first quarterly report, repeatedly beat Wall Street’s earnings estimates and now boasts a more than $14 billion market cap, nearly 500% higher than its initial valuation. Now, Wall Street analysts see shades of another … Read more
Automotive factories throughout the United States and around the world are not producing nearly as many cars as they need to in order to be profitable. A mixture of factors are driving down productivity, but two stand out. First, new car demand simply hasn’t snapped back to pre-pandemic levels. A record 17.5 million cars sold … Read more
A version of this article first appeared in the CNBC Sport newsletter with Alex Sherman, which brings you the biggest news and exclusive interviews from the worlds of sports business and media. Sign up to receive future editions, straight to your inbox. At $111 billion over 11 years, the NFL’s media rights deal is the biggest in … Read more
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, … Read more
Jaque Silva | SOPA Images | Lightrocket | Getty Images Super Micro Computer shares fell more than 12% on Thursday after the Justice Department reportedly opened a probe into the company, which has been a major beneficiary of the artificial intelligence boom. The probe is in its early days, according to a report from The … Read more
New Jeep vehicles sit on a Dodge Chrysler-Jeep Ram dealership’s lot on October 03, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images DETROIT — U.S. sales of new vehicles are expected to have struggled during the third quarter amid economic and political uncertainties, as well as elevated interest rates and … Read more
The logo of Swedish clothing retailer H&M hangs over one of its stores on March 28, 2018 in Berlin, Germany. Sean Gallup | Getty Images News | Getty Images Shares of H&M tumbled as much as 8% on Thursday after the world’s second-largest listed fashion retailer posted a miss on operating profit and abandoned its … Read more
David Tepper, founder and president of Appaloosa Management. David Orrell | CNBC Appaloosa Management’s David Tepper said investors should believe the Federal Reserve when it says it will lower interest rates because the central bank has now to keep credibility. “You just read what these guys are saying,” Tepper said on CNBC’s “Squawk Box” Thursday. … Read more
Hoda Kotb on the set of the TODAY Show on Friday, April 12, 2024, Nathan Congleton | Nbcuniversal | Getty Images Hoda Kotb will be leaving her role as a co-anchor on NBC’s “TODAY” show early next year, she announced in a letter to staff on Thursday. “As I write this, my heart is all … Read more
