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Longtime CVS Health executive David Joyner has succeeded Karen Lynch as CEO, as the company struggles to drive higher profits and stock performance, CVS announced Friday.The move, effective Thursday, the day before the announcement, comes as CVS shares have fallen nearly 20% this year. The stock closed around 5% lower on Friday. CVS has faced challenges as higher medical costs weigh on its insurance unit, Aetna, and a retail pharmacy business pressured by softer consumer spending and reimbursement headwinds for prescription drugs. In August, the company slashed its full-year profit guidance for the third consecutive quarter and said it would cut $2 billion in costs over the next several years.In its release Friday, CVS also said it expects adjusted earnings of between $1.05 and $1.10 per s...

A commercial building available for rent in Melville, New York, April 17, 2023.Howard Schnapp | Newsday | Getty ImagesThe tide could be turning for commercial real estate.The Federal Reserve began its interest rate cutting cycle in September, lowering the Fed funds rate for the first time since 2020 by 50 basis points, while hinting that more cuts are on the horizon. That could give interest rate-sensitive sectors such as commercial real estate long-awaited positive momentum.Lower interest rates make debt cheaper, helping to accelerate deal flow in an industry where deal activity had stalled into the second quarter of 2024. The CRE market had been pressured in the years after the initial Covid shutdowns, ending a nearly 15-year bull run in the face of higher borrowing costs, weak tenant de...

Airplane fuselages bound for Boeing's 737 Max production facility await shipment on rail sidings at their top supplier, Spirit AeroSystems Holdings Inc., in Wichita, Kansas, on Dec. 17, 2019.Nick Oxford | ReutersBoeing supplier Spirit AeroSystems will furlough some 700 workers as a strike by machinists at the plane maker enters its sixth week, a spokesman for the supplier said Friday.More than 32,000 Boeing workers walked off the job Sept. 13 after overwhelmingly rejecting a tentative labor deal with Boeing, deepening the aircraft producer's financial strain and handing a new challenge to CEO Kelly Ortberg, who took the reins just over two months ago.The temporary furloughs account for about 5% of Spirit's U.S. workforce, according to its latest annual filing. The temporary furloughs will ...

Joaquin Phoenix stars as Arthur Fleck in "Joker: Folie a Deux."Warner Bros.Warner Bros. took a big swing with "Joker: Folie a Deux." It's turned into a big whiff.After the billion-dollar success of "Joker" in 2019 on a shoestring budget of just $55 million, the studio greenlit a sequel, offering director Todd Phillips a substantially larger budget of $200 million. As of Wednesday, the film has garnered just $53.8 million domestically, according to Comscore. Its global haul stands at $166 million as of Sunday with updates expected over the weekend.Panned by critics and audiences, "Joker: Folie a Deux" is not expected to recoup much of its lofty production budget or the additional $100 million in estimated marketing and distribution costs by the end of its theatrical run.And it's not the onl...

U.S. President Donald Trump speaks during a "Save America Rally" near the White House in Washington, D.C., U.S., on Wednesday, Jan. 6, 2021.Bloomberg | Getty ImagesA federal judge on Friday ordered the release of more than 1,800 pages of documents filed by special counsel Jack Smith in the criminal election interference case against former President Donald Trump.The records were made public after U.S. District Judge Tanya Chutkan denied a request by Trump's lawyers to keep them sealed until after the Nov. 5 presidential election.Many of the individual files remain redacted, however.The material, spread over four volumes, appears to largely center on three categories of information: Evidence that has been used in Smith's prior case filings; public information relating to Trump, such as soci...