Morgan Stanley recently reported that its second-quarter profit and revenue exceeded analysts’ estimates. The bank’s earnings of $1.82 per share surpassed the expected $1.65 per share, while revenue came in at $15.02 billion, compared to the estimated $14.3 billion. This success was driven by a 41% surge in profit from the year-earlier period, totaling $3.08
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General Motors’ ambitious target of producing 1 million all-electric vehicles in North America by the end of 2025 seems to be under scrutiny after CEO Mary Barra’s recent statement. The company’s production capacity target for next year was one of the few remaining EV goals that hadn’t been revised or rescinded, as the demand for
Macy’s board of directors made the decision to end negotiations with the activist group looking to take the retailer private for $6.9 billion. The board cited concerns over the certainty of financing and the lack of compelling value in the proposal. Lead independent director Paul Varga expressed the board’s stance in a press release, highlighting
SpaceX, the renowned space exploration company founded by Elon Musk, faced a rare mishap with its Falcon 9 rocket during the “Starlink Group 9-3” mission. The rocket, which launched from California’s Vandenberg Space Force Base, was carrying 20 satellites intended for low Earth orbit. The incident involved the failure of the rocket’s upper second stage
The upcoming Summer Olympics in Paris this year have brought excitement for thousands of athletes but disappointment for Delta Air Lines. The airline has reported a significant drop in travelers booking trips to Paris this summer, leading to a projected $100 million loss in revenue. CEO Ed Bastian expressed his concerns about the lack of
The National Football League is contemplating the idea of permitting minority private equity ownership for its 32 teams, allowing for ownership stakes of up to 10% as stated by Commissioner Roger Goodell in an exclusive interview with CNBC. Goodell expressed the need for policies to adapt to the evolving nature of sports, emphasizing the league’s
Audi has recently announced a new partnership with Inter Miami CF, positioning itself as the official premium automotive partner of the South Florida soccer club. This move comes as part of Audi’s strategy to tap into the growing soccer fan base in the United States. As part of the multiyear partnership, Audi will provide a
Pfizer has made significant strides in the development of a once-daily version of its weight loss pill, danuglipron, based on promising data from early-stage studies. The company’s decision to move forward with this formulation comes after evaluating various options to determine the most effective and safe profile for the drug. Pfizer plans to conduct additional
As the Summer Olympics in Paris approach, sportsbooks and daily fantasy operators are gearing up for what could be a significant increase in betting activity. This year’s games will be the first to take place since legal gambling has become widespread in the U.S. With sports like basketball, soccer, and tennis expected to draw a
With NASA astronauts currently aboard the International Space Station longer than anticipated, uncertainty looms about their return to Earth. The primary option for returning the crew to Earth remains Boeing’s Starliner capsule, despite acknowledgment of potential alternatives by NASA’s leadership. The Starliner capsule, named “Calypso,” has already spent 36 days in space with NASA astronauts