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Monthly Archives: October 2019

WeWork $47 billion valuation: SoftBank fiction

Masayoshi Son Alessandro Di Ciommo | NurPhoto | Getty Images When business school professors are writing their WeWork case studies years from now, one of the biggest practical lessons may be this: WeWork should have taken far less money from SoftBank’s Masayoshi Son. The plight of WeWork over the past …

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Chipotle Mexican Grill (CMG) earnings Q3 2019

Brian Niccol, CEO of Chipotle Mexican Grill Adam Jeffery | CNBC Chipotle Mexican Grill on Tuesday reported quarterly earnings that topped analysts’ expectations and announced plans to accelerate its introduction of drive-thru lanes, which could slow down its store openings. Shares were down more than 1% in extended trading after …

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Snap earnings Q3 2019

Snap co-founder and CEO Evan Spiegel speaking at the 2018 Code Conference on May 29th, 2018. Asa Mathat | Vox Media Snap shares bounced around in extended trading on Tuesday after the app developer beat estimates for the third quarter but provided weak guidance for the fourth quarter. The company, …

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Joe Biden plateaus in 2020 Democratic primary polls as Iowa tightens

Democratic presidential candidate and former U.S. Vice President Joe Biden speaks during a forum held by gun safety organizations the Giffords group and March For Our Lives in Las Vegas, Nevada, October 2, 2019. Steve Marcus | Reuters Former Vice President Joe Biden’s grip on Democratic presidential primary polling has …

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Adam Neumann’s $185 million WeWork payout higher than most CEO salaries

Nice job, even if you lose it. As SoftBank takes control of WeWork in a deal that will value the company at between $7.5 billion and $8 billion, former CEO Adam Neumann is getting paid $185 million to walk away from the company, CNBC has reported. That’s more than the …

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Earnings season sees whiffs on Tuesday with McDonalds, UPS and Lockheed

A customer pulls into a McDonald’s restaurant in Shepherdsville, Kentucky. Luke Sharrett | Bloomberg | Getty Images Generally, profits are topping expectations by a large margin this earnings season, but there were some notable misses on Tuesday. Some of the largest and most well-known companies in the U.S. — including …

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Fisher Investments losses hit $2 billion as New Hampshire pension exits

Kenneth Fisher, chief executive officer of Fisher Investments, speaks at the Forbes Global CEO Conference in Sydney, Australia, on Tuesday, Sept. 28, 2010. Gillianne Tedder | Bloomberg | Getty Images The New Hampshire Retirement System voted on Tuesday to end its $239 million relationship with Fisher Investments, bringing the total …

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Airplane maker struggles to regain footing since first 737 Max crash

A line of Boeing 737 fuselages, eventually bound for Boeing’s production facility in nearby Renton, Wash., sit on flatcar rail cars at a rail yard Tuesday, April 9, 2019, in Seattle. Elaine Thompson | AP A year ago, Boeing executives were trying to convince Wall Street investors they could ramp …

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Elizabeth Warren’s policies could drive oil prices higher and help Exxon

Democratic presidential candidate Elizabeth Warren has sent chills through the oil sector with her comments about banning fracking and off shore drilling, but her policies could drive oil prices higher if she were elected, according to Strategas Research. As the prospects of a Warren nomination have grown, so has fear …

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Biotech stocks soar following shock Biogen drug announcement

Biotech stocks surged after Biogen announced plans to revive its Alzheimer’s drug aducanumab. The iShares NASDAQ Biotechnology ETF gained more than 3% at its high on Tuesday — its best daily gain since January 7 — with Biogen powering the ETF higher. Shares of Biogen are up more than 25% …

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