Business
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As Morgan Stanley looks to replace James Gorman, where are the female bank CEOs?
News that James Gorman is planning to step down as CEO of Morgan Stanley has focused attention on the lack of female CEOs at America’s biggest banks. Speaking at Morgan Stanley’s annual shareholder meeting Friday, Gorman said he plans to step down sometime in the next 12 months. Morgan Stanley’s MS, -2.66% board, he added,…
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‘GTA 6’ is coming, and Take-Two stock soars in ‘tremendous’ anticipation
Take-Two Interactive Software Inc. soared Thursday after the videogame publisher hinted that fresh blockbuster titles like “Grand Theft Auto VI” will arrive in 2024 or early 2025. Take-Two TTWO, -1.58% shares finished up 11.7% at $139.63, after surging as much as 13% to an intraday high of $141.47, a price not seen in more than…
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The stock market is sending so many mixed signals, it’s easy to be confused
The stock market, as measured by the S&P 500 Index SPX, -0.16%, has continued to remain in a narrow range since early April. That trading range is bounded by 4050 on the downside and 4200 on the upside. In the past two weeks, SPX has traded in an even tighter range, hovering almost exactly at…
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FDA advisers vote in favor of Pfizer’s maternal RSV vaccine
Advisers to the U.S. Food and Drug Administration voted Thursday in favor of Pfizer’s PFE, +0.47% respiratory syncytial virus vaccine for pregnant people, following extensive debate about its safety. FDA advisory-committee votes are not binding, but the agency often follows their recommendations. If the FDA ultimately approves the vaccine, called Abrysvo, it would be the…
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More banks could collapse like SVB did because the system favors those ‘too big to fail’
“ To stay in business, these banks did the only thing they could. ” In the wake of the failures of Silicon Valley Bank, Signature Bank and Republic National Bank, a common misconception is that these banks failed because they grew too quickly. On Tuesday, former Silicon Valley Bank CEO Greg Becker testified in a U.S.…
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‘Fraud is fun’: Teen hacker charged with breaking into DraftKings accounts leading to theft of $600,000
A boastful teenage hacker has been charged with orchestrating a break-in to the sports betting website DraftKings, which led to $600,000 being drained from hundreds of customer accounts. Joseph Garrison, 18, of Madison, Wis., is accused of using stolen log-in and password combinations he bought on the dark web to hack his way into 60,000…
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Norfolk Southern reaches deal with another union on paid sick leave
Norfolk Southern NSC, +0.55% said Thursday it reached an agreement on providing paid sick leave with a union representing more than 3,300 of its employees. The Brotherhood of Locomotive Engineers and Trainmen’s members will get up to seven paid sick days per year, according to a statement. It provides them with an additional five days…
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Here are the 27 Disney+ and Hulu shows that appear set to be removed next week
The Walt Disney Co. will start removing titles from its Disney+ and Hulu streaming services as soon as next week, according to reports late Thursday. Vulture first reported details of the purge, which will involve at least 27 titles, including the Disney+ fantasy series “Willow,” a follow-up to the 1988 movie, which premiered in November;…
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Cisco earnings beat, but the stock is falling on concerns about declining orders
Cisco did not reduce its full-year revenue forecast, as a previous version of this article indicated. It has been updated. Cisco Systems Inc. beat expectations for quarterly profit and sales in a report Wednesday, but executives did not increase their top target for annual revenue and revealed that orders declined again, sending shares down 4%…
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Boot Barn stock down 16% after mixed quarter, same-store sales drop
Boot Barn Holdings Inc. shares dropped 16% in the extended session Wednesday after the retailer reported a mixed fourth quarter and its same-store sales dropped more than expected. Boot Barn BOOT, -12.10% earned $46.4 million, or $1.53 a share, in the quarter, compared with $44.7 million, or $1.47 a share, in the prior-year period. Adjusted…