Shares of backup power generation company Generac Holdings surged more than 7% on Monday as Hurricane Milton rapidly strengthened into a Category 5 storm. Hurricane Milton is forecast to move north of the Yucatan Peninsula on Monday and Tuesday before crossing the Gulf of Mexico to approach the west coast of Florida by Wednesday, according to the National Hurricane Center. Tampa Bay could face a ...
Projected park closures and disruptions from Hurricane Milton could cut into Walt Disney’s earnings, according to Goldman Sachs analysts. The firm estimated Tuesday that the hurricane, projected to make landfall in central Florida as soon as Wednesday, could reduce earnings before interest and taxes for Disney’s Parks and Experiences segment by about $150 million to $200 million in its current 2025 fiscal first ...
As Apple prepares Apple Intelligence to jump into Silicon Valley’s AI race, it’s relying on one of its strongest advantages: Its army of 34 million app developers. IPhone users will get their first taste of Apple Intelligence, the company’s artificial intelligence system, later this month. The company is relying on Apple Intelligence to be the strongest selling point for the iPhone 16, ...
It’s time for a wellness check at CVS Health. Shares of the company are down more than 20% this year as it grapples with higher-than-expected medical costs in its insurance unit and pharmacy reimbursement pressure, among other issues. As it seeks to claw back faith with Wall Street, the company is considering breaking itself up. CVS has engaged advisors in a strategic review of its ...
It’s time for a wellness check at CVS Health. Shares of the company are down more than 20% this year as it grapples with higher-than-expected medical costs in its insurance unit and pharmacy reimbursement pressure, among other issues. As it seeks to claw back faith with Wall Street, the company is considering breaking itself up. CVS has engaged advisors in a strategic review of its ...
Thousands of dockworkers on the East Coast and Gulf Coast will return to work after reaching a tentative agreement on wages, ending one of the biggest work stoppages in decades. In a joint statement, the United States Maritime Alliance, or USMX, and the International Longshoreman’s Association said the two sides have an agreement to extend their current labor contract through ...
Virtually all of the world’s supply of a mineral that is critical to semiconductor production comes from one tiny town in the foothills of the Blue Ridge Mountains that has been devastated by Hurricane Helene. Spruce Pine, North Carolina has no running water or electricity, more than a week after Helene ripped through the town of 2,200. Roads and railways in and out ...
OpenAI has closed its long-awaited funding round at a valuation of $157 billion, including the $6.6 billion the company raised from an extensive roster of investment firms and big tech companies. While OpenAI didn’t name the investors in Wednesday’s press release, a person with knowledge of the matter said the round was led by Thrive Capital and included participation from ...
Liberty Media-owned Formula One and luxury giant LVMH are entering into a 10-year partnership, according to a joint press release from the companies Wednesday afternoon. The partnership will officially launch at the start of next F1 season and will include “hospitality, bespoke activations, limited editions and outstanding content.” The official arrangement will not be the first time that LVMH and F1 have ...
Starlink, the satellite internet service from SpaceX, is poised to become a crucial lifeline in parts of southern Appalachia that were devastated by Hurricane Helene. The Biden administration has announced it is planning to deploy dozens of ground-based Starlink devices that connect with satellites to provide internet services to remote areas. And the company has said approximately 500 Starlink kits ...