(Reuters) -CVS Health replaced CEO Karen Lynch with company veteran David Joyner on Friday and withdrew its 2024 profit forecast, as the struggling healthcare conglomerate seeks to turn around its fortunes amid rising investor pressure. Shares fell 11% in premarket trading, adding to this year’s losses, as CVS also forecast quarterly adjusted profit below estimates….
(Reuters) – United States Cellular said on Friday it has agreed to sell some of its spectrum licenses to Verizon in a $1 billion deal. U.S. Cellular’s shares jumped 3.9% in trading before the bell. The company will sell portion of its spectrum licenses used for mobile phone signals and high-speed data services to Verizon….
By Manas Mishra and Sneha S K (Reuters) -Walgreens Boots Alliance said on Tuesday it would shut 1,200 stores over the next three years as new CEO Tim Wentworth plots a turnaround at the struggling pharmacy chain operator hit by sluggish consumer spending and low drug reimbursement rates. The company narrowly beat Wall Street’s lowered…
By Toby Sterling and Nathan Vifflin AMSTERDAM (Reuters) -Computer chip equipment maker ASML reported on Tuesday third-quarter earnings that surprised markets with weak bookings and lower than expected sales forecasts for 2025, sending the company’s shares to their biggest one-day drop since 1998. The company said that despite a boom in AI-related chips, other parts…
(Reuters) -SpaceX on Sunday launched its fifth Starship test flight from Texas and returned the rocket’s towering first stage booster back to land for the first time, achieving a novel recovery method involving large metal arms. The rocket’s Super Heavy first stage booster lifted off at 7:25 a.m. CT (1225 GMT) from SpaceX’s Boca Chica,…
(Reuters) – A federal watchdog on Friday criticized the Federal Aviation Administration’s oversight of Boeing airplane production, saying it does not have an effective system to oversee the planemaker’s individual manufacturing facilities. The Transportation Department’s Office of Inspector General said in a report the FAA’s current audit processes “are not comprehensive enough to adequately identify…
By Niket Nishant and Nupur Anand (Reuters) -JPMorgan Chase’s third-quarter profit beat expectations as strong investment banking performance and rising interest payments offset a hit from bigger loan loss provisions, sending its shares up before the market open. The prospect of monetary easing by the Federal Reserve has spurred a rally in equities during the…
(Reuters) -Amazon said on Wednesday that Apple TV+ will become available on Prime Video later this month in the U.S. for $9.99 per month, in a boost for the iPhone maker which has lagged behind streaming rivals Netflix, Disney+ and Prime Video itself. The Apple TV+ streaming service, known for its original series like Ted…
(Reuters) – Starboard Value has asked Pfizer to set up a special committee to investigate allegations that two of its former senior executives were forced to publicly declare support for CEO Albert Bourla, the hedge fund said on Thursday. Former Pfizer CEO Ian Read and ex-CFO Frank D’Amelio, who were reportedly helping the activist investor…
(Reuters) – Meta Platforms said on Wednesday its artificial intelligence chatbot, Meta AI, will be available in 21 new markets, as it looks to compete with OpenAI’s ChatGPT. Technology companies have been trying to attract consumers to their AI chatbots by introducing new features and making them more accessible with support for different languages. Meta…
