Consumer Discretionary

Fox Corp (NASDAQ:FOXA) will be more aggressive in looking for acquisition targets after deciding to cancel its proposed merger with News Corp

/ / Consumer Discretionary /

Fox Corp (NASDAQ:FOXA) will be more aggressive in looking for acquisition targets after deciding to cancel its proposed merger with News Corp Fox Corp (NASDAQ:FOXA) executive chairman and CEO Lacklan Murdoch said the media company would be more aggressive in looking for acquisition targets following its decision to cancel plans to remerge with News Corp. Lachlan Murdoch said on a conference call with Wall Street analysts to discuss Fox’s quarterly results, “We’re definitely looking at something.” M&A will be a more important part of our toolbox. He said Fox has about $4 billion in cash, making the company well-prepared to “seize opportunities as they arise.” ”

Fox Corp (NASDAQ:FOXA) will be more aggressive in looking for acquisition targets after deciding to cancel its proposed merger with News Corp Read Post »

Rivian (NASDAQ:RIVN) announced it will cut 6% of its workforce, involving about 800 people

/ / Consumer Discretionary /

On Wednesday, Rivian (NASDAQ:RIVN) announced a 6% layoff to all employees except “manufacturing jobs in Nomol,” and its CEO said “to achieve long-term goals, resources must be focused on improving and achieving profitability, while ensuring the right future products, services and technologies,” according to a memo. This is the second layoff last year by the electric car maker, involving about 800 employees. Before the latest layoffs, the company had about 14,000 employees worldwide. Following a wave of layoffs at tech companies last July, Rivian did a similar number of layoffs at the time.

Rivian (NASDAQ:RIVN) announced it will cut 6% of its workforce, involving about 800 people Read Post »

United Airlines (NASDAQ:UAL): Daily nonstop service between Hong Kong and San Francisco will resume March 3

/ / Consumer Discretionary /

Effective March 3, 2023, United will resume daily direct service between Hong Kong and San Francisco. The first flight from San Francisco to Hong Kong will depart on 3 March 2023 and the flight from Hong Kong to San Francisco will depart on 6 March 2023.

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Yum China Holdings (NYSE:YUMC) reported revenue of $2.09 billion for the fourth quarter of 2022 versus expectations of $2.22 billion

/ / Consumer Discretionary /

Yum China Holdings, Inc. (NYSE:YUMC) reported revenue of $2.09 billion for the fourth quarter of 2022 versus expectations of $2.22 billion. Fourth-quarter same-store sales were -4% versus -4.27% expected, and fourth-quarter quarterly adjusted earnings per share were $0.13, unchanged from $1.10 a year ago. It is expected to open 1,100 to 1,300 new stores in 2023.

Yum China Holdings (NYSE:YUMC) reported revenue of $2.09 billion for the fourth quarter of 2022 versus expectations of $2.22 billion Read Post »

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