U.S. health insurer Cigna has called off its deal to buy Humana, a move that could have created a $140 billion health-insurance giant. Instead, Cigna plans to repurchase at least $5 billion of its own stock and has increased its total share repurchase authority to $11.3 billion.
DraftKings Inc. stock experienced a 10% pullback post-earnings, drawing analyst interest for an ideal entry point. Barclays raised their rating to "overweight" with a higher price target, causing a 3% premarket rise. Truist analysts anticipate more growth post-positive earnings despite a tough betting period.
Live Nation Entertainment Inc., the parent company of Ticketmaster, exceeded revenue expectations for the fourth quarter of 2023 due to strong concert demand during the holiday season. Despite a slower growth rate, concert-ticket sales have increased following a surge in demand over the past two years, reflecting the ongoing trend of increased consumer spending on leisure.
Carvana stock is on the rise as the company reported better-than-expected results, leading to significant stock price increases and a positive outlook for future growth.
Warner Bros. Discovery's latest financial report showed revenue decline and missed profit forecasts, attributed to Hollywood strikes and soft advertising market. Free cash flow increased, aiding debt reduction efforts, as global streaming subscribers reached 97.7 million. The company's performance fell short of Wall Street expectations.
Intuitive Machines made history with the first private American lunar landing, boosting investor excitement and leading to a nearly 50% surge in the company's stock price.
Alphabet's Google announced it will pause its Gemini AI image generation tool due to inaccuracies in historical images of people, drawing criticism from Elon Musk. An improved version is set to be released soon.
Block, Inc. saw a 5% spike in stock price ahead of its Q4 earnings release. Despite missing Q4 estimates, Block's revenue surpassed expectations, with significant growth in Cash App and Square's point-of-sale suite. The company's efforts to streamline operations led to a surprising profit in the latest quarter.
Builders FirstSource exceeded fourth-quarter earnings expectations amid a slowdown in single-family home construction. CNBC's Jim Cramer highlights the company's resilience despite market challenges, with CEO Dave Rush emphasizing ongoing strong housing demand.
Reddit, a popular social media platform, filed for its IPO in the US, marking the first major tech IPO of the year. With a valuation of $10 billion and detailed financial performance, it joins the public offering trend among early social media companies. CNBC's Julia Boorstin covers the story.
Novavax has resolved its financial dispute with Gavi, committing to pay $475 million in cash or vaccines by 2028. This settlement follows a disagreement over canceled vaccine orders, providing stability for the U.S. COVID-19 shot manufacturer.