Cava, the Mediterranean restaurant chain, recently reported better-than-expected quarterly earnings, surpassing Wall Street’s projections. The company’s earnings per share came in at 17 cents, compared to an expected 13 cents, while revenue reached $233 million, exceeding the anticipated $220 million. This strong financial performance has led to a significant increase in the company’s market value,
Business
Recent news has brought to light that Boeing will be returning its Starliner capsule from the International Space Station without the NASA astronauts it originally delivered to orbit in early June. This decision marks a significant change in plans, as NASA has now opted for Butch Wilmore and Suni Williams to return via SpaceX’s Dragon
In response to the surge in Covid-19 cases this summer, the Biden administration has announced that it will resume offering free at-home tests to American households starting in late September. This initiative aims to provide families with the necessary tools to stay safe during the upcoming fall and winter seasons. The government’s decision to relaunch
The future of Paramount Global is still hanging in the balance as the special committee continues to review competing offers. Edgar Bronfman Jr. initially offered $4.3 billion for Shari Redstone’s National Amusements, challenging the existing merger agreement with Skydance. After submitting the initial bid, Bronfman decided to raise more funds to support a higher offer,
Ford Motor’s recent announcement regarding the delay in production of a next-generation all-electric pickup truck and the cancellation of plans for a three-row electric SUV has sent shockwaves through the automotive industry. Instead, the company has decided to pivot towards the development of hybrid models and electric commercial vehicles. This strategic shift is aimed at
Alaska Airlines recently announced that its plan to acquire Hawaiian Airlines has successfully cleared the U.S. Justice Department. This approval came after an investigation period that did not result in any legal action to block the deal. Now, the two airlines await approval from the U.S. Transportation Department before the deal can officially close. The
Boeing recently announced that it has halted flight tests of its 777X aircraft after uncovering structural damage within one of the planes. The damage was found in a custom part located between the engine and the airplane structure during routine maintenance. As a result, Boeing has grounded the three other 777-9 airplanes in its test
Recently, Gilead Sciences revealed that they had uncovered a dangerous drug-counterfeiting operation that targeted their HIV medications. This scheme, allegedly orchestrated out of two pharmacies in New York City, involved tampering with and improperly reselling the medications before reaching the patients. According to court documents unsealed this month, Peter Khaim, a twice-convicted medical fraudster, was
Starbucks, a well-known coffee giant, has been facing operational challenges that have impacted its sales and customer satisfaction. The incoming CEO, Brian Niccol, is expected to address these issues and turn the company around. Investors and executives have identified various culprits for the chain’s recent struggles, including operational inefficiencies, a weakening consumer base, boycotts, and
The clash between media giants Disney, Warner Bros. Discovery, and Fox and the internet TV bundle Fubo TV over the launch of their sports streaming service, Venu, has resulted in a temporary injunction granted by a U.S. judge. The lawsuit alleges that Venu would be anticompetitive and poses a threat to Fubo TV’s business model,