Hanesbrands to sell Champion brand to Authentic Brands in $1.2 billion deal
Hanesbrands agreed to sell its global Champion business to Authentic Brands Group in a transaction valued at $1.2 billion, including a contingent cash consideration, the company announced on Wednesday. The deal has the potential to reach $1.5 billion through an additional cash contingent consideration of up to $300 million if performance thresholds are met, according to a press […]
Alphabet taps Eli Lilly’s Anat Ashkenazi as new CFO
Eli Lilly Chief Financial Officer Anat Ashkenazi will become Alphabet’s new CFO effective July 31, Google’s parent company saidTuesday, almost a year after Alphabet announced that current CFO Ruth Porat would move into a new role as president and chief investment officer. Ashkenazi had a 23-year career at Eli Lilly, which confirmed her departure in a separate release. “We’re […]
The best banks in the Asia-Pacific region, according to customers
SINGAPORE — Customers in Asia-Pacific have picked their favorite banks as lenders scramble to meet consumer expectations in a fast-changing environment. After a prolonged period of high inflation — and interest rates — banks in the region are starting to navigate the global trend of lower rates. They’re also facing technological innovation that has the […]
Citadel Securities and BlackRock back project to start a national stock exchange in Texas
BlackRock and Citadel Securities are among investors backing a group seeking to start a new national stock exchange in Texas. TXSE Chairman and CEO James Lee said the Dallas-headquartered group has raised $120 million with the support of more than two dozen investors. “Texas’s booming economy and the strong economic and population growth among states in the southeast […]
Stocks making the biggest moves after hours: CrowdStrike, Hewlett Packard Enterprise and more
Check out the companies making headlines in after-hours trading: CrowdStrike — The cybersecurity company jumped 7% after offering better-than-expected quarterly results and guidance. CrowdStrike posted adjusted earnings of 93 cents per share and $921 million in revenue for the first quarter, topping forecasts of 89 cents per share in earnings and $905 million in revenue from […]
‘Roaring Kitty’ post seems to show trader held on to giant GameStop stake after Monday’s rally
Meme stock leader Keith Gill, who’s behind GameStop’s recent roller-coaster ride, appeared to hold on to his large position in the video game retailer even after Monday’s big rally. Gill, whose handle is “DeepF——Value” on Reddit and “Roaring Kitty” on YouTube and X, posted another screenshot of his portfolio showing the same common stock and call option […]
Stocks making the biggest moves midday: Bath & Body Works, Carnival, GameStop and more
Check out the companies making headlines in midday trading: Bath & Body Works — Shares of Bath & Body Works sank nearly 13% and headed for their worst day since 2021. The retailer beat first-quarter earnings and revenue estimates but offered disappointing second-quarter guidance. Bath & Body Works expects earnings to range between 31 cents and […]
U.S. ignored evidence major U.K. bank was helping fund sanctioned Iranian groups, whistleblower says
Recent documents submitted to a U.S. federal court allege that major British bank Standard Chartered helped finance sanctioned Iranian entities and terrorist groups, and that relevant evidence was ignored by American authorities. London-based Standard Chartered, which primarily serves clients in emerging markets, was previously punished with more than a combined $1.7 billion in fines after admitting in 2012 and 2019 […]
Home equity is near a record high. Tapping it may be tricky due to high interest rates
Home equity is near all-time highs. But tapping it may be tough due to high interest rates, according to financial advisors. Total home equity for U.S. mortgage holders rose to more than $17 trillion in the first quarter of 2024, just shy of the record set in the third quarter of 2023, according to new data from CoreLogic. […]
Stocks making the biggest moves premarket: Intel, GameStop, Bath & Body Works and more
Check out the companies making headlines before the bell. Intel — Shares rose more than 1% in the premarket after the company announced new artificial intelligence chips aimed at competing with those from rivals Nvidia and AMD. Despite the AI boom, Intel is down nearly 40% year to date, while Nvidia and AMD are up 132% and 11% […]