A South Korean court on Friday approved an injunction against the K-pop group NewJeans’ attempt to cut ties with its record label, Ador, blocking members from engaging in commercial activities without the label’s consent.In the latest twist in a long-running feud between the two sides, a panel of judges in the Seoul Central District Court on Friday recognized Ador’s rights as the group’s manager. The ruling could halt the group’s plans to release new songs, organize its own appearances and sign independent advertising deals.The five members of NewJeans announced their split from Ador last November, accusing the label of mistreatment,…
Author: usaeverydaylife
Check out the companies making headlines in premarket trading. FedEx — Shares tumbled more than 8% after the parcel delivery company slashed its full-year guidance , citing “weakness” in the U.S. industrial economy. FedEx now said to expect between $18 and $18.60 in earnings per share after certain exclusions, down from the range of $19 to $20 per share set earlier. United Parcel Service shares slid 1.5% in sympathy. Cleveland-Cliffs — The steel producer lost 2% after the Minnesota Star Tribune reported that Cleveland-Cliffs would temporarily idle two factories, resulting in hundreds of job cuts. That decision comes as automakers…
Loop Capital has one warning for FedEx investors: don’t be the last one standing. Analyst Rick Paterson downgraded FedEx from hold to sell after the shipping company cut its full-year profit and revenue forecasts on Thursday, citing soft demand and uncertainty in the U.S. industrial economy amid changing tariff and trade policies. Paterson also slashed his FedEx price target by 22%, to $221 from $283, implying shares could fall another 10% from their last close. The stock, which has already tumbled 12.5% this year, traded nearly 8% lower premarket Friday. Fears about a U.S. recession and President Donald Trump’s new…
Here are the biggest calls on Wall Street on Friday: Goldman Sachs reiterates Nike as buy Goldman says Nike’s earnings report on Thursday provided “fodder” for bulls and bears but that it’s ultimately sticking with the stock. “We remain constructive on the stock but acknowledge the company is early in its turnaround journey.” JPMorgan reiterates Apple as overweight JPMorgan called Apple “defensive” and says it has “cyclical drivers.” “We expect product cycle drivers in the form of iPhone 16E as well as iPad and Mac refreshes to support upside and/or resilience to revenue and earnings, in contrast to the negative…
A delivery rider passes by a Nike retail store on Dec. 29, 2024, in Chongqing, China.Cheng Xin | Getty Images News | Getty Images The Trump administration’s radical overhaul of the federal government and economic policy is bleeding into corporate earnings.Nike reported earnings Thursday, and cautioned that it expects sales in its current quarter to plunge because of tariffs and sliding consumer sentiment. Accenture, meanwhile, said its revenue has been hit by a reduction in contracts with the U.S. government as the latter reins in spending.Those are warnings of the economic damage that countries could suffer — on a wider…
Beleaguered AI server maker Super Micro Computer could get a lift from Nvidia’s Blackwell success, according to JPMorgan. Analyst Samik Chatterjee upgraded Super Micro shares to neutral from underweight and lifted his price target by $10 to $45. With that new target, Chatterjee forecasts that shares of Super Micro, known for its servers powered with Nvidia graphics processing chips, could gain about 15% on the back of a better supply ramp from Nvidia’s Blackwell chips. “The company has cycled past the uncertainty in relation to pending SEC filings and is on the cusp of benefitting from ramp in Blackwell based server…
Outside the Macclesfield factory of AstraZeneca.Christopher Furlong | Getty Images News | Getty ImagesBritish pharmaceutical giant AstraZeneca on Friday said that it will invest $2.5 billion in a research and development center in Chinese capital Beijing.The new hub is expected to take AstraZeneca’s Beijing workforce to around 1,700 employees.Don’t miss AstraZeneca’s CEO Pascal Soriot interview live on CNBC International at 11:30 a.m. London time / 7:30 a.m. ET.This breaking news story is being updated. Source link
The Bundestag Federal Eagle symbol in the plenary hall of the Bundestag, Germany’s parliament.Krisztian Bocsi | Bloomberg | Getty ImagesGermany’s upper house of parliament on Friday passed a reform of the country’s borrowing rules and a 500-billion-euro ($542 billion) fund to revamp its infrastructure and revive Europe’s largest economy.The constitutional amendment to loosen the so-called debt brake also allows for de-facto unlimited spending on defence and security.The upper house of parliament, which represents the 16 German states, passed the bill with the necessary two-thirds majority after Tuesday’s vote in the lower house, the Bundestag.The conservatives and the SPD party, who…
CNBC’s Karen Gilchrist joins ‘Squawk Box’ to report on the latest news. Source link
Warren Hu had just settled into his flight from New York to London, where he planned to visit his girlfriend, when he became one of the thousands of passengers whose travel was thrown into disarray early Friday because of a fire near Heathrow Airport.The plane carrying Mr. Hu, a college student in New York, would be returning to the United States, a crew member announced. “I’m a bit surprised, but we can find a solution, so I’m trying to stay calm,” he said in a text message from the plane.The fire, at an electrical substation near Heathrow, knocked out power…
