Cava, the Mediterranean restaurant chain, recently reported its fiscal second-quarter net income which surpassed Wall Street’s expectations. The company saw a substantial increase in earnings per share, reporting 17 cents compared to the anticipated 13 cents. Additionally, Cava’s revenue for the quarter reached $233 million, exceeding the forecasted $220 million. These impressive numbers resulted in
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Edgar Bronfman Jr. has recently made a bid for a controlling stake in Paramount Global, which could potentially keep Shari Redstone closely connected to the company if his offer is successful. Bronfman has raised $6 billion to compete with Skydance Media for the ownership of National Amusements, a holding company founded by Sumner Redstone. Both
Boeing recently made the decision to return its Starliner capsule from the International Space Station without the NASA astronauts it delivered to orbit in early June. This unexpected move was announced by the agency on a Saturday, causing a buzz within the space community. The agency revealed that NASA astronauts Butch Wilmore and Suni Williams
The Biden administration has announced that it will be resuming the distribution of free at-home Covid-19 tests to American households starting in late September. This decision comes as the virus continues to spread rapidly throughout the country during the summer months. Officials have shared that Americans will be able to request up to four free
The future of Paramount Global remains uncertain as the special committee recently announced that they would be extending the “go shop” period of its merger agreement with Skydance by 15 days. This decision comes as the committee reviews a competing offer from Edgar Bronfman Jr. Initially, Bronfman offered $4.3 billion for Shari Redstone’s National Amusements,
Ford Motor recently announced that they will be delaying the production of a next-generation all-electric pickup truck at a new plant in Tennessee and cancelling plans for a three-row electric SUV. This decision comes as a surprise to many, as the automotive industry has been heavily leaning towards electric vehicles in recent years. Instead, Ford
Alaska Airlines has successfully passed the scrutiny of the U.S. Justice Department in its bid to acquire Hawaiian Airlines. This milestone comes after a period of investigation into the $1.9 billion agreement between the two carriers, which was announced nearly eight months ago. With the clearance from the DOJ, the focus now shifts to obtaining
Boeing recently announced that it has decided to temporarily halt the flight tests of its 777X after a structure in one of the wide-body aircraft showed signs of damage. The company detected the issue in a custom part located between the engine and the airplane structure during routine maintenance procedures. As a precautionary measure, Boeing
Gilead Sciences recently revealed a dangerous drug-counterfeiting operation that took place in two New York City pharmacies. The mastermind behind this operation was identified as Peter Khaim, a twice-convicted medical fraudster. He was described as one of the most brazen and largest manufacturers and sellers of counterfeit Gilead medications in the country. The scheme involved
One of the key problems facing Starbucks, as highlighted by investors and executives, is the operational issues that have resulted in declining sales over recent quarters. The rise of mobile orders, accounting for roughly one-third of the total sales, has created chaos in stores, with frustrated customers and overwhelmed baristas. Former CEO Howard Schultz has