Business

Check out the companies making headlines before the bell. Elevance Health – Shares plummeted more than 10% after the health insurer reported weaker-than-expected third-quarter earnings. In a statement , CEO Gail Boudreaux said the company remains "confident" amid "unprecedented challenges in the Medicaid business." Health care stocks Molina Healthcare and Centene also fell nearly 9% and more than 7%, respectively. Taiwan Semiconductor – The stock surged more than 8% after the company reported a 54% gain in net profit for the third quarter. Shares of chip giant Nvidia – one of TSMC's clients – rose more than 3% in sympathy following the quarterly results. Expedia – Shares jumped nearly 5% after The Financial Times reported, citing people familiar with the process, that Uber explored a poten...

Here are five key things investors need to know to start the trading day:1. Bouncing backThe Dow Jones Industrial Average hit a new record close on Wednesday, recovering from its previous down day. The 30-stock index gained 337.28 points, or 0.79%, while the e S&P 500 climbed 0.47% and the Nasdaq Composite added 0.28%. The earnings seasons has gotten off to a solid start, helping to give markets a boost, as 79% of the roughly 50 S&P 500 stocks that have posted third-quarter earnings so far have beat expectations. Morgan Stanley shares added 6.5% on Wednesday and United Airlines' stock soared 12.4% after the companies reported earnings. Follow live market updates.2. Nuclear optionAn Amazon Web Services data center in Stone Ridge, Virginia, US, on Sunday, July 28, 2024. Data center d...

Isiah Pacheco #10 of the Kansas City Chiefs runs for a one yard touchdown during the third quarter against the Philadelphia Eagles in Super Bowl LVII at State Farm Stadium on February 12, 2023 in Glendale, Arizona.Rob Carr | Getty Images Sport | Getty ImagesEarlier this month a well-known musician showed up at a Kansas City Chiefs game as the National Football League continues its bid to reach a new audience.But this time it wasn't Taylor Swift cheering on Travis Kelce — as the pop star has done at Kansas City games, leading to a boost in viewership.It was Puerto Rican rapper Daddy Yankee, known for hits like "Gasolina" and "Rompe." He attended a Monday Night Football game in Arrowhead Stadium and spent time with running back Isiah Pacheco of the Chiefs. Pacheco, who is of Puerto Rican des...

Momo Productions | Digitalvision | Getty ImagesThe Biden administration announced on Thursday that it was forgiving another $4.5 billion in student debt for over 60,000 borrowers.The latest round of relief is a result of the U.S. Department of Education's fixes to the popular, but once troubled, Public Service Loan Forgiveness program.President Joe Biden, who has forgiven more education debt than any other president in U.S history, said that the number of borrowers to benefit from the program under his administration now exceeded 1 million."Public service workers – teachers, nurses, firefighters, and more – are the bedrocks of our communities and our country," Biden said in a statement. "But for too long, the government failed to live up to its commitments."The PSLF program, signed into la...

Carlos Tavares, chief executive officer of Stellantis NV, beside a Citroen C5 Aircross Concept automobile at the Paris Motor Show in Paris, France, on Monday, Oct. 14, 2024.Bloomberg | Bloomberg | Getty ImagesPARIS, France — Several of Europe's biggest carmakers unveiled low-cost electric vehicles (EVs) at the Paris Motor Show this week, seeking to jump-start a demand slump and recapture some of the market share now held by Chinese brands.It is thought that the biennial industry showcase, which opened in Paris on Monday and runs through to Sunday, could prove to be a turning point for Europe's auto industry."It feels like Europe is fighting back," Julia Poliscanova, senior director for vehicles and e-mobility supply chains at the Transport & Environment campaign group, told CNBC at the...

Businesses have been working hard to shift their culture internally to ensure they're taking the threat of cyber breaches and outage incidents seriously.Andrew Brookes | Image Source | Getty ImagesNew European Union regulations requiring businesses to bolster their cyber defenses is off to a slow start as many member states have failed to adopt the rules in time to meet a key enforcement deadline, according to research monitoring the progress of the directive.The EU's NIS 2 cybersecurity directive sets a high benchmark for companies over their internal cybersecurity systems and practices. It imposes tougher requirements around risk management, transparency obligations and business continuity planning, in the event of a cyber breach.On Thursday, the new directive officially became enforceab...

An image of a semiconductor wafer at the Taiwan Semiconductor Manufacturing Museum of Innovation in Hsinchu, Taiwan, on Jan. 11, 2022.I-Hwa Cheng | Bloomberg | Getty ImagesTaiwan Semiconductor Manufacturing Company on Thursday reported a 54% hike in net profit, as global chipmakers continue to benefit from demand boosted by AI applications.The company's net income was 352.3 billion Taiwanese dollars ($10.1 billion) over the July-September quarter, surpassing an LSEG estimate of $300.2 billion Taiwanese dollars cited by Reuters.TSMC is the world's largest producer of advanced chips, serving clients such as Apple and Nvidia.This breaking news story is being updated. Source link

Napheesa Collier, #24 of the Minnesota Lynx, scores the game-winning basket during the game against the New York Liberty in Game 1 of the 2024 WNBA Finals at Barclays Center in Brooklyn, New York, on Oct. 10, 2024.Nathaniel S. Butler | National Basketball Association | Getty ImagesWarner Bros. Discovery is ensuring pro basketball will stay on TNT Sports.Unrivaled, the new and upcoming pro women's basketball league, signed an exclusive, multiyear media rights deal to air its games on TNT and truTV, as well as streaming platform Max. Terms of the deal were undisclosed.The three-on-three league was co-founded earlier this year by WNBA stars Breanna Stewart of the New York Liberty and Napheesa Collier of the Minnesota Lynx as the popularity of women's sports — basketball in particular — rises....

09 March 2024, China, Peking: Ni Hong (r.), China's Minister of Housing and Rural Development, speaks at a press conference. Johannes Neudecker | Picture Alliance | Getty ImagesChina will expand its "whitelist" of real estate projects and speed up bank lending for these unfinished developments to 4 trillion yuan ($561.8 billion) by the end of the year, the country's housing ministry said Thursday.Ni Hong, China's minister of housing and urban-rural development, made the announcement at a press conference, alongside officials from the central bank, finance ministry and the National Financial Regulatory Administration.A total of 2.23 trillion yuan had already been approved in loans to whitelisted developers. That figure will almost double to 4 trillion yuan by the end of 2024, according to a...

Detroit Pistons team owner Tom Gores claps during the press conference on July 30, 2021 at the Pistons Performance Center in Detroit, Michigan. Nic Antaya | Getty Images Sport | Getty ImagesPrivate equity billionaire Tom Gores has agreed to pay $750 million to buy 27% of the National Football League's Los Angeles Chargers at an enterprise value of $4 billion, according to two people with knowledge of the deal who spoke on the condition of anonymity to discuss nonpublic details.The $4 billion valuation is more than a 30% discount to the team's value of $5.83 billion, according to CNBC's Official 2024 NFL Team Valuations. Limited partners with no path to control of the team typically get about a 20% to 25% discount in these deals.Gores likely got a larger than usual discount because he bough...