Latest Corporate News News
Spirit Airlines Prepares to Shut Down as Rescue Deal Falls Apart
The discount carrier is heading toward shutdown after a $500 million government bailout failed as bondholders rejected the offer and the airline runs low on cash. The Trump administration's final rescue attempt broke down this week, leaving the aviation industry facing a major shakeup
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Meta Acquires Humanoid Robot Startup Assured Robot Intelligence
Meta Platforms has acquired Assured Robot Intelligence, with the startup's team joining Meta to focus on optimizing its models for robotics applications. The move signals Meta's continued investment in robotics technology and AI development.
Apple Stock Rallies 3.5% on Better-Than-Expected Earnings
Apple led the market higher after reporting stronger profit and revenue for the latest quarter than analysts expected, becoming the strongest force lifting the S&P 500. As one of Wall Street's biggest stocks by size, Apple's performance had an outsized impact on the broader market.
Exxon and Chevron Report Record Profits Despite White House Pressure
Exxon Mobil reported $4.9 billion in adjusted earnings, far exceeding consensus expectations, while Chevron similarly crushed earnings expectations. The higher profits from oil supply disruptions filled their coffers without requiring increased production, though both stocks declined as oil prices retreated
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Estee Lauder Raises Fiscal-Year Outlook as Turnaround Continues
Estee Lauder boosted its full-year profit outlook and announced it will cut more jobs than initially expected in its restructuring, with strength in China driving better-than-expected earnings. The stock climbed 3% on the positive guidance.
Trump Raises EU Auto Tariffs to 25% Over Trade Deal Dispute
President Trump announced sharply higher tariffs on European automobiles, accusing Europeans of breaking a trade deal and raising the stakes in trade tensions. The move came just days into his term, signaling an aggressive stance on trade negotiations.
Cboe Slashing 20% of Staff and Tightening Remote Work Policies
The derivatives exchange Cboe will cut 20% of its workforce and tighten work-from-home policies while offering voluntary-retirement packages to older employees. The restructuring aims to help the company focus on its core businesses.
Elon Musk's Tesla Pay Package Valued at $158 Billion for 2025
Shareholders approved Musk's compensation package valued at $158 billion in 2025, designed to encourage him to spend more time at the company. The massive compensation reflects investor confidence in Musk's leadership despite ongoing controversies.
Pentagon Expands Classified AI Work with Seven Tech Giants
The Pentagon struck classified AI deals with seven major technology companies, including OpenAI, Google, and Microsoft, but notably excluded Anthropic from the agreements. The move represents significant Pentagon investment in AI capabilities across the tech industry.
Trump Media Leadership Shake-Up as CEO Focus Shifts to Diverse Businesses
Kevin McGurn, who helped drive Trump Media's unexpected foray into fusion energy, was elevated to CEO and must now manage the company's diverse business portfolio. The leadership change reflects the company's strategic pivot beyond its original social media focus.
Carter's Appoints Build-A-Bear Chief Sharon Price John as New CEO
Carter's appointed longtime Build-A-Bear Workshop chief Sharon Price John as its new chief executive, effective mid-June. The move brings experienced retail leadership to the children's apparel company.
S&P 500 Reaches New Record High as Corporate Earnings Beat Expectations
The S&P 500 climbed 0.6% to reach a new all-time high, building on record gains as 84% of reporting S&P 500 companies topped analysts' earnings estimates. The index is on track to deliver roughly 15% profit growth compared to a year earlier.