Dick’s Sporting Goods said Thursday it plans to acquire rival Foot Locker as it looks to expand its international presence, win over a new set of consumers and corner the Nike sneaker market. Under the terms of the agreement, Dick’s will use a combination of cash on hand and new debt to acquire Foot Locker for $2.4 billion. Foot Locker shareholders can receive either $24 in cash – a roughly 66% premium of Foot Locker’s average share price over the last 60 days – or 0.1168 shares of Dick’s stock.Foot Locker CEO Mary Dillon has been undertaking an ambitious turnaround at…
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Apple may have only one way out of the rock and a hard place it finds itself in during President Donald Trump’s second administration, CNBC’s Jim Cramer said Thursday. “Unless [Apple CEO Tim Cook] builds some plant here to make phones, I don’t think it is going to end,” Cramer said on “Squawk on the Street,” referring to pressure from Trump. Cramer’s comments Thursday came after Trump publicly criticized Apple’s plans to move more iPhone production to India , where tariffs are expected to be much lower than in China. Currently, about 90% of iPhones are assembled in China, according…
This report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here.The big storyIndian Border Security Force (BSF) soldiers stand guard at the entrance of the India-Pakistan Wagah border post, about 35kms from Amritsar on April 24, 2025. India took a raft of punitive diplomatic measures against Pakistan on April 23, accusing Islamabad of supporting “cross-border terrorism” after a deadly attack on civilians in Kashmir. (Photo by Narinder NANU / AFP) (Photo by NARINDER…
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh: Today we’re spotlighting a stock you’ve probably heard me talking about on CNBC over the past few years, Toast (TOST) . For the first time ever, Toast has hit our list of the Best Stocks in the Market . Sean was really excited to write this one up and I was excited to read his take on the fundamental story. My take is very simple — I believe this company has reached the point where it is…
Bloomberg | Bloomberg | Getty ImagesShares of UnitedHealth Group plunged more than 18% on Thursday following a report that the Department of Justice is conducting a criminal investigation into the health-care giant over possible Medicare fraud.The DOJ is focusing on the company’s Medicare Advantage business practices, but the exact nature of the potential criminal allegations is unclear, The Wall Street Journal reported late Wednesday, citing people familiar with the matter. In a statement, UnitedHealth Group said the Justice Department has not notified it about the reported probe and called the newspaper’s reporting “deeply irresponsible.”The company also said “we stand by the…
Tesla CEO Elon Musk attends the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia, May 13, 2025. Hamad I Mohammed | ReutersThe Grok chatbot from Elon Musk’s xAI startup said Wednesday that it “appears I was instructed to address the topic of ‘white genocide’ in South Africa,” according to responses viewed by CNBC.CNBC was able to duplicate the Grok responses via multiple user accounts on X, including by asking in one prompt, “Did someone program Grok to discuss ‘white genocide’ specifically?” Users noticed the chatbot was generating bizarre answers about the controversial topic on Wednesday afternoon in response to unrelated queries.By…
While the stock market has staged a spectacular rebound over the past month, some stocks are more to thank than others. The S & P 500 has come back since a sell-off in early April following President Donald Trump’s announcement of steep tariffs. The broad index has erased losses for this year — an especially significant feat considering it at one point slipped into a bear market, or a drop of at least 20% from a recent high. A handful of stocks posted outsized gains during this period, a CNBC Pro analysis shows. CNBC Pro looked at which S &…
The Fortune 500 index ranks the 500 largest companies in the nation by revenue. Third on the list, trailing only Walmart and Amazon, is the nation’s largest health insurer, UnitedHealth. The company has had a tough go of it recently. Late last year, the CEO of the company’s UnitedHealth subsidiary was shot and killed just as he was entering the Hilton in Midtown to present at a conference. The company missed earnings and reduced guidance in April. On Tuesday, the CEO resigned “for personal reasons,” the company suspended guidance only a month after reducing it. The average of analysts’ 12-month…
Microsoft is poised to build on an already strong 2025 performance, according to Citi. The bank hiked its price target to $540 per share from $480. That implies upside of 19% from Wednesday’s close. Citi also kept its buy rating on the stock. Shares of Microsoft have added 7% this year. MSFT YTD mountain MSFT YTD chart Analyst Tyler Radke highlighted Microsoft’s strong fiscal earnings and revenue beat along with strong cost efficiencies and improving performance from its Azure cloud business. Microsoft on Tuesday said it would lay off roughly 6,000 employees, or 3% of its workforce — which Radke…
Jakub Porzycki | Nurphoto | Getty ImagesCoinbase on Thursday reported that cyber criminals bribed overseas support agents to steal customer data to use in social engineering attacks. The incident may cost Coinbase up to $400 million to fix, the company estimated.The crypto exchange operator received an email on May 11 from someone claiming they obtained information about certain Coinbase customer accounts as well as other internal Coinbase documentation, including materials relating to customer-service and account-management systems, Coinbase reported in an SEC filing.Shares fell 4%.The email demanded money in exchange for not publicly disclosing the information, but Coinbase says it has…
