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Anthem Fails To Overturn Block of Cigna Merger

An appeals court has denied Anthem Inc.’s (NYSE:ANTM) bid to overturn a court ruling that blocked its planned merger with Cigna Corp. (NYSE:CI) The federal appeals panel in Washington upheld the lower court’s ruling by a 2-1 vote. The Justice Department had sued to stop the $48 billion merger, which would combine two of the […]

General Motors’ Efforts Limit Lawsuits Fail

General Motors’ (NYSE:GM) request to the U.S. Supreme Court to keep hundreds of lawsuits related to its faulty ignition switches from proceeding has been denied. The company could now be exposed to billions of dollars in additional claims. The Supreme Court turned away an appeal from the company regarding a lower court ruling that said […]

Panera Plans To Expand Delivery, Add Jobs

Panera Bread Co. (NASDAQ:PNRA) has announced plans to expand delivery services to more of its cafes and hire 10,000 new employees by the end of the year. It hopes to expand delivery to 35 percent to 40 percent of locations by the end of 2017. According to Panera’s forecasts, delivery will add roughly $250,000 per […]

Wells Fargo Expands Account Scandal Settlement

Banking giant Wells Fargo (NYSE:WFC) has announced that it is expanding the settlement it reached over charges that it fraudulently opened bank and credit accounts in customers’ names. Wells Fargo said it will add $32 million to the previous agreement, which will now total $142 million in restitution. The expansion is intended to cover more […]

Verizon Misses Expectations For Q1

Verizon Communications Inc. (NYSE:VZ), the No. 1 U.S. wireless carrier, missed earnings expectations for the first quarter of its fiscal year. Verizon reported net income of $3.45 billion, or 84 cents per share, in the quarter ended March 31. This was down from $4.31 billion, or $1.06 per share, reported in the same period a […]

Goldman Sachs Misses Expectations For Q1

Goldman Sachs Group Inc. (NYSE:GS) missed earnings expectations for the first quarter of its fiscal year in a rare fumble for the fifth-largest U.S. bank by assets. Net income almost doubled to $2.26 billion, or $5.15 a share, from $1.14 billion, or $2.68, a year earlier. However, the results were well short of analyst forecasts […]

Netflix Misses Growth Target For First Quarter

Netflix (NASDAQ:NFLX) missed its subscriber growth targets for the first quarter. Netflix added nearly 5 million new subscribers in the quarter, 3.5 million of whom were overseas. The streaming service had expected to add a net 5.2 million users, with 3.7 million of those being international. The subscriber additions also did not meet Wall Street’s […]

Uber Targeted Lyft Drivers With ‘Hell’ Program

Uber has been accused of using a secret software program to spy on its rival, Lyft, from 2014 to 2016. Using its software, Uber could track how many Lyft drivers were available for new rides and where they were. The company then took action to encourage these drivers to drive for Uber instead. Lyft said […]

Wells Fargo Announces Further Clawbacks Of Executive Compensation

Wells Fargo (NYSE:WFC) has announced its intentions to claw back tens of millions in additional compensation from top former executives involved in the fake account scandal that rocked the bank last year. The crisis blew up for Wells Fargo in last September as reports emerged that the company’s employees may have opened up to 2.1 […]

Verizon Announces New Plans For AOL And Yahoo

After Verizon’s (NYSE:VZ) purchase of Yahoo goes through, AOL and Yahoo will be merged into a company known as “Oath.” The company has plans to launch Oath in the coming months, according to an AOL spokeswoman. The spokeswoman said Oath would be “one of the most disruptive brand companies in digital.” The names Yahoo and […]

Reports Claim Panera Bread Exploring Possible Sale

Reports have surfaced that Panera Bread (NASDAQ:PNRA) is exploring a possible sale. According to sources close to the company, Panera is working with advisors to look over strategic options after receiving takeover interest. Potential suitors could include JAB Holding Co., Starbucks Corp. and Domino’s Pizza Inc., according to people with knowledge of the matter. There’s […]

Mylan Expands EpiPen Recall

Drugmaker Mylan NV has expanded a recall of EpiPen devices in the United States and other markets. Meridian Medical Technologies, Mylan’s manufacturing partner, has issued a voluntary recall for 13 lots of the EpiPen and EpiPen Jr. Auto-Injectors distributed in the U.S. Mylan originally recalled more than 81,000 EpiPens in Europe, Australia, New Zealand and […]

DuPont-Dow Merger Delayed By FMC Asset Deal

To win European Union approval for its merger with Dow Chemical (DOW.N), DuPont (DD.N) has announced its intentions to sell part of its crop protection business to FMC Corp. (FMC.N) while buying another unit of the company. This will delay the closing of the DuPont-Dow merger for the third time. DuPont’s merger with Dow is […]

Lululemon Reports Mixed Results For Fourth Quarter

Lululemon (NASDAQ:LULU) reported mixed earnings for the fourth quarter. Net income increased to $136 million, or 99 cents per share, from $117 million, or 85 cents per share, in the same quarter a year earlier. CEO Laurent Potdevin said, “2016 marks a milestone year where our successful execution against long-term strategies returned the company to […]

Tesla CEO Launches New Brain-Focused Company

Tesla CEO Elon Musk has announced on Twitter that he is starting another company and that more details would be coming “in about a week.” The statement says the company, to be called Neuralink, will work on the development of a “neural lace” and is now in an “embryonic” stage. Neuralink was reportedly founded last […]

Darden Restaurants Adds Cheddar’s Scratch Kitchen To Portfolio

Darden Restaurants (NYSE:DRI) has agreed to buy Cheddar’s Scratch Kitchen for $780 million in cash. Cheddar’s sells pasta, sirloin steaks, grilled catfish and baby-back ribs, among other home-style favorites. Darden’s portfolio of brands currently includes Olive Garden, LongHorn Steakhouse, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s. Darden is purchasing the […]

Dow DuPont Merger Receives EU Approval

Dow Chemical (NYSE:DOW) and DuPont (NYSE:DD) have received approval for their $130 billion merger from the European Union. The approval is a big victory for the companies. The European Union’s approval means the deal will remain on track for its target completion date of late June. In late January, DuPont CEO Ed Breen said the […]

Alaska Air Ending Virgin America Brand

Alaska Air Group (NYSE:ALK) has announced that it would be retiring the Virgin America brand in 2019. Alaska’s vice president of marketing Sangita Woerner said in a statement, “While the Virgin America name is beloved to many, we concluded that to be successful on the West Coast we had to do so under one name […]

Exxon Mobil Admits To Losing Subpoenaed Emails

Exxon Mobil (NYSE:XOM) has admitted in Manhattan Supreme Court that it lost a year’s worth of emails from an alias account used by its former CEO during his tenure. Attorney General Eric Schneiderman made accusations earlier this month that former Exxon CEO Rex Tillerson used the email name “Wayne Tracker” from at least 2008 through […]

Potential Merger Between Albertsons And Sprouts In Works

Reports have emerged of a potential merger between grocery giant Albertsons and Sprouts Farmers Markets (NASDAQ:SFM). According to sources that asked to remain anonymous, the discussions are at an early stage and may not lead to a deal. Some analysts are estimating Sprouts could fetch around $26 per share in deal. That would be an […]

Wal-Mart Buys Online Retailer ModCloth

Wal-Mart (NYSE:WMT) has purchased online women’s fashion retailer Modcloth for an undisclosed amount, although Wal-Mart did say it was an all-cash acquisition. The deal included both assets and operations. The company announced the deal Friday. Wal-Mart, which has a market cap of $216 billion, was trading down slightly as the market opened Friday. In a […]

McDonald’s Launches Mobile Ordering Beta Test

McDonald’s Corp. (NYSE:MCD) is beta testing mobile ordering at 29 restaurants in Monterey and Salinas, Calif., this week. Next week, the testing will expand to 51 more restaurants in Spokane, Wash. The local pilot tests are designed to get customer feedback on the new service. The chain is preparing for a national launch of mobile […]

New Novartis Breast Cancer Drug Approved By FDA

Swiss drugmaker Novartis AG (NYSE:NVS) has received approval from the U.S. Food and Drug Administration for a new breast cancer drug called Kisqali, known chemically as ribociclib. Novartis developed Kisqali along with Astex Pharmaceuticals, a subsidiary of Japan’s Otsuka Group. Astex will receive undisclosed payments from Novartis for its part in the partnership. The new […]

Google Releases New CAPTCHA Version To Developers

Alphabet’s (NASDAQ:GOOG) Google has released a new version of the CAPTCHA test that will be less intrusive to internet users. The new Invisible reCAPTCHA feature is a free service is designed to protect sites and apps from spam and abuse The announcement is part of the news from this week’s Google Next ’17 conference in […]

American Express Adds More Perks To Platinum Cards

American Express (NYSE:AXP) has announced a number of new perks that will be added to the list for customers holding American Express Platinum cards. All existing benefits will also continue, according to a statement by the company. Janey Whiteside, general manager of Global Charge Products, Benefits & Services for American Express, said, “This is a […]

Security Breach Costs Yahoo CEO Millions

Yahoo’s (NASDAQ:YHOO) chief executive, Marissa Mayer, has lost her 2016 bonus as a result of the 2014 theft of information from more than 500 million Yahoo accounts. Ms. Mayer said in her statement that she was unaware of the breach until September 2016. She also wrote in the statement, “However, I am the C.E.O. of […]

Target To Invest $7B In Upgrades

Target Corp. (NYSE:TGT) has announced plans to invest $7 billion in upgrades to the business over the next three years. Target expects fiscal 2017 and 2018 to be investment years as a result of these initiatives, with the company returning to stability and growth in 2019. Brian Cornell, CEO of Target said, “We’re investing to […]

United Airlines Adding New Routes And Aircraft In Expansion

United Airlines, a unit of United Continental Holdings (NYSE: UAL), has announced a major expansion that includes 4 new cities and 31 new routes. United president Scott Kirby said, “Starting this summer we ‘re offering more flights to more destinations at more convenient times than in recent memory.” Most of the new flights are beginning […]

Bitcoin Value Surpasses Previous Peak

The value of Bitcoin is at all-time high, surpassing its previous peak established in November 2013. The digital currency’s value hit $1,206.60 per coin Friday, according to the CoinDesk Bitcoin Price Index. At its prior peak, the currency was trading at $1,163 per coin. There is now more than $18 billion of the digital currency […]

Restaurant Brands International Adding Popeyes To Portfolio

Restaurant Brands International (NYSE:QSR), owner of Burger King and Tim Hortons, has announced that it will be adding Popeyes Louisiana Kitchen (NASDAQ:PLKI) to its portfolio of brands. Restaurant Brands International CEO Daniel Schwartz said of the deal, “With this transaction, RBI is adding a brand that has a distinctive position within a compelling segment and […]

Google Takes Steps Against Piracy In The U.K.

Alphabet’s (NASDAQ:GOOG) Google has agreed to demote piracy sites in its search results in the U.K. The company has agreed to a voluntary code of practice with the British Phonographic Industry (BPI) and Motion Picture Association. Google says that it will reduce “the visibility of infringing content in search results by 1 June 2017.” Google […]

Kraft Heinz Bids $143B For Unilever, Is Rebuffed

Kraft Heinz (NASDAQ:KHC) has offered to buy Unilever (NYSE:UL) in a $143 billion deal that would potentially combine some of the world’s best known consumer brands. Unilever said that Kraft Heinz offered to pay $50 a share for the company in a mix of cash and stock. The proposal is for $30.23 a share in […]

Kate Spade Seeking Buyer

Kate Spade (NYSE:KATE) is reportedly seeking a buyer for its business. The company confirmed that it is examining “strategic alternatives” for the business. CEO Craig Leavitt stated that the company was “exploring strategic alternatives that are in the best interests of our Company and shareholders.” Kate Spade changed its name from Fifth & Pacific Cos […]

Time Warner Shareholders Approve AT&T Deal

Time Warner Inc. (NYSE:TWX) shareholders have voted to sell the company to AT&T (NYSE:T) for $85.4-billion. According to a preliminary count of the votes, stockholders representing about 79 percent of the outstanding shares of common stock approved the merger agreement. Time Warner agreed to AT&T’s offer of $107.50 a share on Oct. 22. At the […]

Aetna Merger With Humana Canceled

The planned merger between Aetna Inc. (NYSE:AET) and Humana Inc. (NYSE:HUM) has been officially called off. Aetna also terminated its plan to sell some Medicare Advantage assets to Molina Healthcare Inc., which was seen as a way to try to win Justice Department approval for the Humana deal. Aetna chief executive Mark T. Bertolini said […]

Marathon Pharmaceuticals Taking Heat Over Drug Pricing

Marathon Pharmaceuticals has frozen the rollout of muscular dystrophy drug Emflaza, its brand name for deflazacort, after taking significant criticism over its pricing plan for the drug. Emflaza received regulatory approval for U.S. sales last week. Marathon CEO Jeffrey Aronin said in a statement, “We have not sold any new product, and we will pause […]

Honda Partners With Hitachi On Electric Car Venture

Honda Motor Co. (HMC) plans to partner with Hitachi Automotive Systems Ltd., a wholly owned subsidiary of Hitachi Ltd. (HTHIY), in a joint venture to develop, produce and sell motors for electric vehicles. The joint venture, which has yet to be named, will be 51 percent owned by Hitachi, while Honda will control the remaining […]

Fewer People Signed Up For Affordable Care Act Coverage In 2017

Preliminary enrollment numbers for the Affordable Care Act (ACA) show that fewer people signed up for coverage this year than last year. According to a report released on the figures, 9.2 million people signed up for insurance through the ACA for 2017. This was slightly below the 9.6 million sign-ups from last year. This was […]

Apple Weighs Legal Options Against President’s Travel Ban

Apple (NASDAQ:AAPL) is reportedly considering joining the legal fight against the Trump administration’s executive order on immigration. The order suspends entry of all refugees to the United States for 120 days. It also blocks citizens of 7 countries from entering the U.S. for 90 days and bans Syrian refugees for an indefinite amount of time. […]

Exxon Mobil Beats Earnings Forecasts

Exxon Mobil (NYSE:XOM) beat forecasts on earnings for the fourth quarter of its fiscal year. Exxon reported a fourth-quarter adjusted profit of 90 cents a share, higher than Wall Street analysts’ estimates of 70 cents a share. In the same period a year ago, it reported earnings of $2.8 billion, or 67 cents a share. […]

President Trump Turns Attention To Drug Manufacturing

At a White House meeting surrounded by aides, President Donald Trump talked to eight pharmaceutical company executives about ways to make the American drug manufacturing industry more competitive. The message to the pharmaceutical company executives was similar to one he delivered to the auto executives that met with him last week. He said he would […]

Chinese Firm Seeks To Buy MoneyGram

Ant Financial Services Group, the payment affiliate of Chinese e-commerce giant Alibaba Group Holding, wants to buy money-transfer company MoneyGram International (NASDAQ:MGI) and is apparently willing to pay about $880 million for it. The offer of $13.25 per share is at a premium of 11.5 percent to MoneyGram’s Wednesday’s close. MoneyGram’s biggest shareholder, private equity […]

Aetna Accused Of Falsifying Reasons For Exiting Health Exchanges

U.S. District Judge John Bates issued a 158-page ruling on Monday blocking Aetna’s (NYSE:AET) merger with Humana (NYSE:HUM) due to anti-competitive concerns. The Department of Justice sued to block the merger in July of last year, saying it would wipe out competition in 17 counties in Florida, Georgia and Missouri. Bates wrote in his ruling […]

Deal Between Verizon And Yahoo Delayed

Verizon Communications Inc. (NYSE:VZ) has pushed back the expected closing date for its purchase of Yahoo Inc.’s (NASDAQ:YHOO) main business. Verizon cited “work required to meet closing conditions” as the reason for the delayed timetable. The transaction had been expected to close in the first three months of 2017. Now, it is believed that the […]

EpiPen Rival Coming In February

A competitor to Mylan’s EpiPen is set to return to the market starting in February. The Auvi-Q is an epinephrine auto-injector sold by Virginia-based manufacturer Kaleo. The auto-injection adrenaline system is a lifesaving product that wards off anaphylactic shock during a severe allergy attack. The device was previously recalled in 2015 for what the FDA […]

Western Union Reaches Settlement On Fraud Charges

Western Union Co. (NYSE:WU) has reached a settlement with U.S. regulators over charges that the bank failed to stop money laundering and wire fraud. The bank agreed to pay $586 million as part of the settlement. The penalty was imposed by the Justice Department and Federal Trade Commission. The fine is the biggest ever against […]

China Moves To Regulate App Stores

The Cyberspace Administration of China says that app stores will now be officially regulated. In a notice posted to its website, the Cyberspace Administration announced mobile app stores will now required to register with its offices. The government says that this new measure will make the stores both safer and more profitable. App stores will […]

President-Elect’s Plan For Health Insurance Light On Details

President-elect Donald J. Trump has announced nearing completion on a plan to replace President Obama’s Affordable Care Act. He said that his plan would be unveiled soon after the confirmation of Representative Tom Price, Republican of Georgia, by the Senate to be the secretary of health and human services. Price is appearing before the Senate […]

Wells Fargo Fourth Quarter Income Results Miss Estimates

Wells Fargo & Co. (NYSE:WFC) has released the results for the fourth quarter of its fiscal year. The company reports that net income fell 5.4 percent to $5.27 billion, or 96 cents a share, from $5.58 billion, or $1, a year earlier. The average estimate of surveyed analysts was for adjusted profit of $1 a […]

Fiat Chrysler Accused Of Cheating On Emissions Tests

The Environmental Protection Agency has accused Fiat Chrysler (NYSE:FCAU) of cheating on emissions test by using specialized software. The EPA says that the company installed software on certain diesel trucks that allowed them to emit far more pollutants than emissions laws allow under the Clean Air Act. The software reduced the amount of nitrogen oxide […]