Ticketmaster parent and concert-venue operator Live Nation Entertainment Inc. on Thursday said it believed the Justice Department’s investigation into its competitive practices was in the “mid-stages,” but said it believed that “nobody thinks that the fundamentals” behind its promotions business were breaking the law. Management at Live Nation LYV, +3.53% — which rivals have complained …
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Shares of Expedia Group Inc. EXPE, +18.84% rallied 9% in the after-hours session Thursday after the online travel company reported quarterly earnings well above Wall Street expectations, saying that demand for travel has been resilient. Expedia earned $425 million, or $2.87 a share, in the third quarter, compared with $482 million, or $2.98 a share, …
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Starbucks Corp. SBUX, +2.64% late Thursday detailed plans to save $3 billion in three years, become bigger overseas, and double its reward members within five years. The goals are “elevating the Starbucks brand, strengthening the company’s digital capabilities, and becoming truly global,” the company said. The company also talked about improving its “partner culture,” which …
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Shares of Bill Holdings Inc. tanked more than 30% after hours on Thursday after the financial software firm cut its full-year sales outlook, saying inflation and consumer uncertainty pose a bigger threat to its smaller-business customers. The company BILL, -25.19%, whose cloud-based platform Bill.com helps small businesses handle payments, invoices and expenses, said it expected …
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Nio Inc.’s stock NIO, +5.65% rose 3.3% early Friday, after reports that the Chinese electric vehicle company is planning to cut 10% of its workforce this month. The move aims to improve efficiency and cut costs in the face of growing competition, Reuters reported, citing an email sent to Nio’s staff. “We still have a …
Restaurant Brands International Inc. QSR, -1.87% said Friday it had net income of $252 million, or 79 cents a share, in the third quarter, down from $360 million, or $1.17 a share, in the year-earlier period. Adjusted per-share earnings came to 90 cents, ahead of the 85 cent FactSet consensus. Revenue rose to $1.837 billion …
Continue reading “Burger King parent Restaurant Brands tops Q3 profit estimates”
Cinemark Holdings Inc. is basking in the success of summer blockbusters “Barbie” and “Oppenheimer,” which helped the movie theater chain deliver third-quarter earnings that blew past analysts’ estimates Friday. The two movies even sparked an internet phenomenon dubbed “Barbenheimer,” with people watching both films on the same day. Set against this backdrop, Cinemark’s CNK, -2.43% …
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Outback Steakhouse parent Bloomin’ Brands Inc.’s stock BLMN, +0.25% tumbled 6.7% premarket Friday, after the company cut its full-year guidance to reflect a soft casual dining environment. The company is now expecting full-year adjusted EPS of $2.80 to $2.90, down from prior guidance of $2.91 to $3.00. It expects same-store sales to rise 1.5% to …
Shares of Cardinal Health Inc. CAH, +6.86% climbed 1.3% into record territory in premarket trading Friday, after the drug distributor reported fiscal first-quarter profit that beat expectations and raised its full-year outlook, while revenue came up a bit shy. Net income for the quarter to Sept. 30 dropped to $5 million, or 2 cents a …
Sempra Energy Inc.’s stock SRE, +0.37% fell 3% early Friday, after the energy infrastructure company posted better-than-expected third-quarter profit but revenue that fell short of estimates. San Diego-based Sempra said it had net income of $721 million, or $1.14 share, for the third quarter, up from $485 million, or 77 cents a share, in the …
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