Jakub Porzycki | Nurphoto | Getty Images Pfizer on Wednesday reported first-quarter revenue that beat expectations and hiked its full-year profit outlook, benefitting from its broad cost-cutting program and strong sales of its non-Covid products. The company now expects to book adjusted earnings of $2.15 to $2.35 per share for the fiscal year, up from … Read more
Brazilian private equity firm 3G Capital quietly sold off its 16.1% stake in Kraft Heinz in the fourth quarter, nearly nine years after masterminding the blockbuster merger of Kraft Foods and Heinz with Warren Buffett. The sale marks the end of an era for 3G. The firm’s influence over Kraft Heinz had been dwindling in … Read more
Nurphoto | Nurphoto | Getty Images Tinder and Hinge operator Match Group added two new directors and signed an agreement with Elliott Management, months after the activist investor was reported to have taken a stake in the company, Match announced on Monday. Instacart Chief Marketing Officer Laura Jones and Zillow co-founder Spencer Rascoff will join … Read more
Visitors are visiting TikTok’s stand at the Appliance & Electronics World Expo (AWE) in Shanghai, China, on April 27, 2023. On March 14, 2024, the United States will pass a bill banning TikTok. CostFoto | Nurphoto | Getty Images The U.S. could be about to force ByteDance, the Chinese tech giant that owns TikTok, to … Read more
Igor Golovniov| Lightrocket | Getty Images Industrial technology company Trimble announced on Tuesday it would buy back up to $800 million worth of shares and add two directors to its board, just a few weeks after activist investor Jana Partners disclosed a stake in the company. Ron Nersesian and Kara Sprague will join Trimble’s board effective … Read more
Pfizer on Tuesday posted a surprise adjusted fourth-quarter profit, as the company’s declining Covid business performed better than expected. The company reversed roughly $3.5 billion in revenue related to the expected return of 6.5 million doses of its Covid drug, Paxlovid, from the U.S. government. That hit is less than the $4.2 billion Pfizer initially expected … Read more
