Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales

A Chipotle restaurant and signage is seen on February 09, 2022 in Miami, Florida. Joe Raedle | Getty Images Chipotle Mexican Grill on Tuesday reported weaker-than-expected quarterly earnings and revenue, signaling that its price hikes may finally be alienating customers. In October, CEO Brian Niccol said the company saw “minimal resistance” to higher prices for … Read more

Delta raises employee pay 5%, second increase in a year

Nurphoto | Nurphoto | Getty Images Delta Air Lines is raising employee pay 5%, the second time its lifted staff pay in less than a year as a sharp rebound in travel boosts the carrier’s profits and the U.S. labor market remains tight. Delta raised employee pay 4% in May, the first increases since before … Read more

Used vehicle prices swing higher amid unseasonably high demand in January

A man shops for used vehicles at the Toyota of Deerfield dealership in Deerfield Beach, Florida. Getty Images DETROIT – Stronger-than-expected demand for used vehicles last month led to the largest increase in wholesale values since late 2021, according to new data Tuesday from Cox Automotive. The automotive data firm’s Manheim Used Vehicle Value Index … Read more

Bed Bath & Beyond lines up funding in a last-ditch bid to avoid bankruptcy

A Bed Bath & Beyond store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. Stephanie Keith | Bloomberg | Getty Images Bed Bath & Beyond will live to see another day – at least for now. The beleaguered home goods retailer is expecting to receive more than $1 billion in … Read more

What will TV look like in three years? These industry insiders share their predictions

Illustration by Elham Ataeiazar The media industry is in the middle of change. There’s little doubt legacy cable TV will continue to bleed millions of subscribers each year as streaming takes over as the primary way the world watches television. Still, the details of what’s about to happen to a transitioning industry are unclear. CNBC … Read more

More than half of all ‘Avatar: The Way of Water’ tickets have been for 3D showings

Avatar: The Way of Water Courtesy: Disney Co. As Disney and James Cameron’s “Avatar: The Way of Water” climbs its way up the box office ladder — as of Monday, it was just shy of becoming the third-highest grossing film of all time — movie theater analysts are spotting an important trend in ticket sales. … Read more

Hispanic dialysis patients face 40% higher risk of staph infection than whites, CDC says

A COVID-19 patient using a ventilator rests while his blood goes through a kidney dialysis machine (L) on the Intensive Care Unit (ICU) floor at the Veterans Affairs Medical Center on April 21, 2020 in the Brooklyn borough of New York City. Robert Nickelsberg | Getty Images Hispanic dialysis patients face a 40% higher risk … Read more

Mediterranean restaurant chain Cava confidentially files for an IPO

A logo outside of a Cava restaurant location in Chantilly, Virginia. Kristoffer Tripplaar | Sipa USA | AP Mediterranean chain Cava announced Monday it has confidentially filed for an initial public offering. It’s the first restaurant company so far this year to take the first step toward a public market debut, following a drought of … Read more

FAA proposes more than $1 million fine on United Airlines over preflight safety checks

United Airlines Boeing wide body 777-200 aircraft as seen during take off and flying phase, passing in front of the air traffic control tower while the plane is departing from Amsterdam Schiphol Airport AMS towards Houston IAH in the United States of America as flight UA21. Nicolas Economou | Nurphoto | Getty Images The Federal … Read more

U.S. plans to stop buying Covid shots for the public this fall. Here’s what that means

A pharmacist delivers a COVID-19 booster dose at a Chicago CVS store in October. Antonio Perez | Tribune News Service | Getty Images The U.S. will stop buying Covid shots at reduced price for the entire country and shift vaccine distribution to the private market as soon as early fall, shifting the cost to U.S. … Read more

Ford sold 91 million shares of EV startup Rivian last year

RJ Scaringe, Rivian founder and CEO, and Ford Executive Chairman Bill Ford announce a $500 million Ford investment in Rivian. Source: Ford Motor Co. DETROIT – Ford Motor liquidated most of its ownership stake last year in electric vehicle maker Rivian Automotiveaccording to the Detroit automaker’s annual report submitted to the Securities and Exchange Commission … Read more

Southwest faces Senate hearing next week following holiday meltdown

John and Lori Ingoldsby, who drove to Denver after the first leg of their flight on Southwest Airlines was canceled, wait for a flight to finish their trip at Denver International Airport on December 28, 2022 in Denver, Colorado. Michael Ciaglo | Getty Images Southwest Airlines‘ chief operating officer, Andrew Watterson, will face questions from … Read more

Biden administration expands EV tax credits in boost for Tesla, Cadillac, others

A Tesla Model Y on display inside a Tesla store at the Westfield Culver City shopping mall in Culver City, California, U.S., on Thursday, April 14, 2022. Bing Guan | Bloomberg | Getty Images DETROIT – The U.S. Treasury said Friday it is changing its definition of an “SUV” to make more electric vehicles from … Read more

Vince McMahon open to leaving WWE for good if he sells the company, CEO Nick Khan says

Vince McMahon attends a press conference at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey. Michael N. Todaro | Getty Images World Wrestling Entertainment Executive Chairman Vince McMahon is open to stepping away from the company “if it’s the right deal,” according to WWE CEO Nick Khan. Shares of the company rose … Read more

Nordstrom stock surges after report says activist investor Ryan Cohen bought a stake

Shoppers exit Nordstrom at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania. Mark Makela | Getty Images Shares of Nordstrom surged Friday morning following news that activist investor and meme stock maven Ryan Cohen bought a stake in the high-end department store company. The stock was up about 30% … Read more

Ford CEO Jim Farley’s frustration builds as he vows to transform the automaker

Ford CEO Jim Farley is frustrated. The company’s fourth-quarter earnings on Thursday missed analyst expectations by a wide margin, as costs and supply chain issues again hurt Ford’s bottom lineFarley knows his company needs to change. related investing news “We have to change our cost profile,” Farley told CNBC after a call with analysts to … Read more

Kohl’s names interim CEO Tom Kingsbury to the post permanently

The Kohl’s logo is displayed on the exterior of a Kohl’s store on January 24, 2022 in San Rafael, California. Justin Sullivan | Getty Images Kohl’s on Thursday named interim CEO Tom Kingsbury to the post on a permanent basis. He took over as interim CEO in December after former chief executive Michelle Gass decided … Read more

Starbucks is about to report earnings. Here’s what to expect

A Starbucks store is seen inside the Tom Bradley terminal at LAX airport in Los Angeles, California. Lucy Nicholson | Reuters Starbucks is expected to report its fiscal first-quarter earnings after the bell Thursday. Here’s what Wall Street analysts surveyed by Refinitiv are expecting: Earnings per share: 77 cents expected Revenue: $8.78 billion expected Shares … Read more

Mortgage rates drop to the 5% range for the first time since September

Prospective buyers at an open house in Florida. Mike Stocker | South Florida Sun Sentinel | Tribune News Service | Getty Images The average rate on the 30-year fixed rate mortgage has fallen to 5.99%, according to Mortgage News Daily. The housing market hasn’t seen the rate with a five handle since a brief blip … Read more

Charlie Munger says the U.S. should follow in China’s footsteps and ban cryptocurrencies

Charlie Munger at the Berkshire Hathaway press conference, April 30, 2022. CNBC Berkshire Hathaway Vice Chairman Charlie Munger urged the U.S. government to ban cryptocurrencies, as China has done, arguing that a lack of regulation enabled wretched excess and a gambling mentality. “A cryptocurrency is not a currency, not a commodity, and not a security,” the 99-year-old … Read more

Ford’s U.S. sales start 2023 on strong footing, boosted by F-Series and Bronco

Ford workers produce the electric F-150 Lightning pickup on Dec. 13, 2022 at the automaker’s Ford Rouge Electric Vehicle Center (REVC). Michael Wayland | CNBC DETROIT – Ford Motor’s new U.S. vehicle sales started 2023 on stronger footing than a year earlier, but were down 18.4% from December. January is historically one of the weakest … Read more

GOP attorneys general warn CVS, Walgreens against mailing abortion pill in their states

Mifepristone (Mifeprex) and Misoprostol, the two drugs used in a medication abortion, are seen at the Women’s Reproductive Clinic, which provides legal medication abortion services, in Santa Teresa, New Mexico, on June 17, 2022. Robyn Beck | AFP | Getty Images Republican attorneys general in 20 states warned CVS and Walgreens this week against mailing … Read more

Venture capital for Black entrepreneurs plummeted 45% in 2022, data shows

Bea Dixon, the CEO and co-founder of The Honey Pot Company Courtesy: Honey Pot Company In 2016, Beatrice Dixon had finally secured a deal with Target to carry her line of feminine care products. But she had one problem: She was still making them in the kitchen of her Atlanta home, and she needed to … Read more

Sandwich chain Subway’s sales climb as turnaround takes hold ahead of potential sale

An employee halves a Subway sandwich at a Subway restaurant on January 12, 2023 in Austin, Texas. Brandon Bell | Getty Images Subway said its same-store sales climbed 9.2% in 2022, signaling the sandwich chain’s turnaround is taking hold as it reportedly explores a sale. The company is not required to disclose its financial results … Read more

Bond king Jeffrey Gundlach says he expects one more Fed rate hike

DoubleLine Capital CEO Jeffrey Gundlach said he sees one additional rate hike from the Federal Reserve before the central bank ends its tightening cycle. “I think one more,” Gundlach said Wednesday on CNBC’s “Closing Bell: Overtime.” “I think it’s tough to make the statement ‘ongoing increases’ with an ‘s’ at the end of the word … Read more