CVS to split off drugstore business, reversing $78 billion Aetna merger; shares fall 10%
The breakup dismantles the vertically integrated healthcare conglomerate CVS built after its 2018 Aetna acquisition.
CNBC · +13 outlets
Stocks surge after Democrats sweep midterms; Dow jumps more than 1,000 points
Wall Street cheered divided government as analysts said gridlock reduces policy risk, even as Bloomberg noted such post-midterm gains have historically been wea
Ft · +14 outlets
Federal Reserve raises interest rates for the first time since 2023
The hike ends a multi-year pause; traders had been weighing the midterm results against rate expectations.
CBS News · +13 outlets
Canva lays off more than 1,200 staff, 22% of workforce, in major reorganization
CEO Melanie Perkins called it the hardest moment in the design software company's 13-year history.
Business Insider · +14 outlets
Kraft Heinz to divest North American coffee business in $650 million deal with One Rock
CEO Steve Cahillane is shedding the unit as he works to revive the packaged food giant.
CNBC · +14 outlets
Disney plans several thousand layoffs, asks managers to cut costs by up to 20%
The cuts are the entertainment giant's latest round as it pushes cost reduction across divisions.
CNBC · +14 outlets
SpaceX signs multiyear deal with Qualcomm for Starlink Mobile network infrastructure
Qualcomm will supply base station technology as it expands beyond handsets into satellite-backed mobile service.
CNBC · +6 outlets
Uber beats on revenue as mobility and delivery units miss estimates
The ride-hailing company cited higher overseas fuel costs and tighter driver supply for the unit misses.
CNBC · +8 outlets
Tesla and SpaceX shares drop about 5% as Musk's election bets backfire
Musk was the biggest funder of the effort to keep Texas red, which failed; the Financial Times estimated the midterms cost him over $60 billion.
Business Insider · +14 outlets
AMD stock jumps 8% as quarterly results and guidance beat estimates
Analysts tracked several price target revisions after the chipmaker's Q3 beat.
Investing.com · +13 outlets
Novo Nordisk shares jump as Wegovy pill sales beat estimates, drugmaker hikes outlook
The results strengthen Novo's position in the obesity and diabetes drug market.
CNBC · +4 outlets
Euro zone inflation hits 4% for first time in three years as rate hike looms
Energy inflation above 20% in October drove the increase, reinforcing expectations of an ECB move.
CNBC · +13 outlets
Micron and chip stocks slip as midterm results strike at data-center optimism
Democratic wins in Texas and other states raised questions about the AI buildout, and dozens of local referendums restricted data center construction.
MarketWatch · +5 outlets
McDonald's earnings beat, but traffic to U.S. restaurants falls
The chain has leaned on discounts to attract budget-conscious diners over the past two years.
CNBC · +13 outlets
Private companies added 86,000 jobs in October, slightly above expectations, ADP says
Separate BLS data showed job openings at 7.52 million in September, up 333,000 from August.
CNBC · +14 outlets
Data centers take a hit at the ballot box as voters back construction limits
Dozens of referendums restricted data center construction, and Ohio added to its existing 125 moratoriums.
Business Insider · +14 outlets
Uber CEO says DoorDash's Instacart acquisition worries some merchants
The delivery giant's shifting spending toward driver incentives also risks higher rider prices, per Business Insider.
MLex · +1 outlets
CrowdStrike launches AI kill switch to stop rogue internal agents
CEO George Kurtz said enabling agents to work safely is a large market opportunity for the cybersecurity firm.
CNBC · +1 outlets