Business

CHICAGO — Pfizer on Friday said its drug for an advanced form of lung cancer showed promising long-term results in a late-stage trial, which may help establish it as the new standard treatment for the condition. The company’s medicine helped patients live longer without seeing their cancer progress, and most people experienced that benefit for

Tourists line a street in Venice, Italy, on Saturday, March 16, 2024. Venice collected €37 million in overnight tourist taxes in 2023, with hotels charging guests anywhere between €1 and €5.  Nathan Laine | Bloomberg | Getty Images Bellagio, Lake Como, Italy — When boat drivers start complaining about the tourists overrunning this famous lakeside

With a parade of new models and a marketing tailwind from Formula 1, sports carmaker Aston Martin expects to become cash-flow positive this year, according to Executive Chairman Lawrence Stroll. “We’re now at a really transitional moment, with an inflection point for this company,” Stroll told CNBC. “We’re introducing all our products, finally, after designing

VanEck CEO Jan van Eck sees a major sentiment shift underway in the cryptocurrency market linked to the U.S. Securities and Exchange Commission’s approval of a rule change allowing for Ethereum exchange-traded funds. “This is really one of the most amazing things that I’ve seen in my career with respect to securities regulation,” van Eck

The FDA has approved Moderna’s RSV vaccine for older adults. Courtesy: Moderna The Food and Drug Administration on Friday approved Moderna’s vaccine for respiratory syncytial virus for adults ages 60 and above, the company’s second-ever product to enter the U.S. market.  The decision is a win for Moderna, which desperately needs another revenue source amid

Oscar Wong | Moment | Getty Images When Adam Moelis co-founded a fintech startup named Yotta in 2019, he wanted to give Americans a new way to save money to help them cushion the ups and downs of life. Instead, his company has inadvertently been a source of deep pain for thousands of customers who

The Gap logo is displayed at a Gap store in Los Angeles, April 25, 2023. Mario Tama | Getty Images Retail’s biggest winners during first-quarter earnings aren’t thriving because consumers are suddenly spending more on discretionary goods — it’s because they’re executing well and cash-strapped shoppers are choosing them over competitors.  If there’s one takeaway

Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in New York City on Sept. 28, 2023. Adam Jeffery | CNBC Billionaire investor Bill Ackman is selling a 10% stake in Pershing Square, aiming to eventually take his investment firm public. Ackman’s firm is raising $1.05 billion in a funding round,

A Gap store in New York, US, on Monday, May 27, 2024. Gap Inc. is scheduled to release earnings figures on May 30.  Bloomberg | Bloomberg | Getty Images Gap posted positive comparable sales at all four of its brands on Thursday, leading the apparel giant to raise its full-year guidance as CEO Richard Dickson’s

Dell Technologies CEO Michael Dell speaks during the MWC session ‘New strategies for a new era’ on the first day of the 18th edition of the Mobile World Congress (MWC) at Fira de Barcelona’s Gran Via venue in L’Hospitalet de Llobregat on February 26, 2024, in Barcelona, Catalonia, Spain. Kike Rincon | Europa Press |

2024 Jeep Wagoneer S EV Jeep NEW YORK – The first all-electric Jeep SUV for the U.S. will be the 2024 Wagoneer S, starting at about $72,000 when it’s scheduled to go on sale this fall. The Stellantis-owned brand revealed the vehicle and pricing Thursday, portraying it as a “new chapter” for the quintessential American

Bank of America Chairman and CEO Brian Thomas Moynihan speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023.  Evelyn Hockstein | Reuters U.S. consumers and businesses alike have turned cautious about spending this year because of elevated inflation

Foot Locker’s turnaround is starting to bear some fruit.  The sneaker giant saw comparable sales decline 1.8% during its fiscal first quarter, far better than the 3.1% drop-off that analysts expected, according to StreetAccount.  The company also reaffirmed its fiscal year guidance, which projects sales to be between a 1% decline and a 1% gain,

Shoppers walk in front of a Kohl’s store in Mount Kisco, New York. Scott Mlyn | CNBC Kohl’s shares plummeted more than 20% in premarket trading Thursday after the company posted a surprise loss per share, coming in well below Wall Street’s expectations for a slight profit. Here’s how Kohl’s did in its fiscal first

Activist investor Nelson Peltz has sold his entire stake in Disney, a person familiar with the matter tells CNBC. Peltz sold all of his Disney stock at roughly $120 a share, the person said, making about $1 billion on the position. The stock currently trades for about $100 per share. The exit comes weeks after

The logo for Salesforce is displayed on the Salesforce Tower in New York City on March 7, 2019. Brendan Mcdermid | Reuters Check out the companies making headlines in extended trading: Salesforce — Shares plunged more than 14% after first-quarter revenue of $9.13 billion missed consensus estimates of $9.17 billion, according to LSEG. Adjusted earnings

An Abercrombie & Fitch signage is seen on a store on Fifth Avenue on August 25, 2022 in New York City.  Michael M. Santiago | Getty Images Abercrombie & Fitch reported its strongest first quarter in its history on Wednesday, continuing a winning streak that again exceeded expectations. The retailer’s sales jumped 22% compared to

Solar panels and wind turbines in the Netherlands. Daniel Bosma | Moment | Getty Images Clean energy stocks may be underperforming in the public market, but there is still great appetite for companies focused on decarbonization in private markets — with Clean Energy Ventures’ new fund serving as the latest example. The climate tech firm

When Starbucks and its baristas union resume contract bargaining this week, workers may have renewed momentum at their backs — courtesy of the company’s own CEO. The coffee giant last month found itself reporting an objectively challenging quarter. U.S. same-store sales fell 3% and traffic dropped 7%. As a result, the company cut its 2024

A night in China’s Guizhou province at the Cliff Hotel, pictured here, starts around $83, according to Trip.com, which says the hotel was built in 2023 with 34 rooms. Nurphoto | Nurphoto | Getty Images BEIJING — Chinese travelers are increasingly opting for cheaper domestic destinations over foreign tourist spots. Only 14% of high-income households