Here are some of the top business news highlights from today:
- FTC Sues to Block Kroger-Albertsons Merger: The Federal Trade Commission is seeking to prevent the largest supermarket merger in history, citing concerns about competition and potential price increases.
- Lowe’s Earnings Report: Despite surpassing earnings estimates, Lowe’s anticipates a decline in revenue for the current year.
- Intuitive Machines’ Moon Mission: Intuitive Machines’ spacecraft, Odysseus, has successfully transmitted images from the moon, marking a significant achievement for the company.
- Altice USA Acquisition: Shares of Altice USA jumped by 36% following reports of Charter contemplating an acquisition.
- United Airlines Bag Fee Increase: United Airlines has raised its checked bag fee by $5, following a similar move by American Airlines.
- Warner Bros. Discovery Misses Estimates: Warner Bros. Discovery fell short of estimates and cautioned about cash flow challenges in 2024.
- Carvana Stock Surge: Carvana’s stock experienced a surge after reporting its first annual profit and receiving analyst upgrades.
- Beyond Meat’s New Burger: Beyond Meat has launched a healthier version of its burger in a bid to attract more customers.
- Boeing’s Leadership Change: Boeing has replaced the head of its troubled 737 Max program amid ongoing challenges.
- Novavax Vaccine Dispute: Novavax is poised to resolve a dispute over a canceled Covid vaccine purchase agreement.
- Moderna’s Quarterly Profit: Moderna unexpectedly posted a profit despite a decline in Covid vaccine sales.
- Rivian and Lucid Stock Plunge: Shares of Rivian and Lucid declined after weak earnings reports in the electric vehicle sector.
- Existing Home Sales Rise: While existing home sales saw an uptick, higher mortgage rates are now negatively impacting the market.
- Capital One’s Acquisition Plans: Capital One’s proposed acquisition of Discover is under scrutiny, with no breakup fee if regulators block the deal.
- Tax Evasion Concerns: The IRS chief highlighted that tax evasion by the wealthiest Americans amounts to over $150 billion annually.
- New Sickle Cell Therapies: Advances in sickle cell gene therapies are considered groundbreaking, although affordability remains a challenge.
- Thrasio Bankruptcy Filing: Leading Amazon aggregator Thrasio recently filed for bankruptcy.
- FAA Deadline for Boeing: The FAA has given Boeing 90 days to develop a quality control plan amidst ongoing concerns.
- Starbucks Union Wages Increase: Starbucks has announced wage hikes for union workers as it improves its relationship with Workers United.
- House Republicans Subpoena Attorney General: House Republicans have issued a subpoena for classified documents related to President Biden’s administration.
These highlights encompass mergers, earnings reports, industry developments, and regulatory actions spanning various sectors like aviation, retail, technology, and healthcare.
