Delta Air Lines recently disclosed that the CrowdStrike outage in the previous month cost the airline a significant amount of $550 million. This financial hit includes a $380 million loss in revenue for the current quarter, mainly due to refunding customers for canceled flights and providing compensation in the form of cash and SkyMiles. In
Business
Eli Lilly made headlines recently with its impressive second-quarter earnings report. The company reported earnings and revenue that exceeded expectations, leading to a significant increase in its full-year revenue outlook. This positive news caused shares of Eli Lilly to spike by more than 9% in premarket trading. The drugmaker now anticipates adjusted earnings of $16.10
Disney’s media business has been a subject of concern for investors since 2022, with streaming losses, traditional pay TV declines, and box office failures overshadowing the success of its theme parks and resorts. This negative narrative has caused Disney’s shares to fall by about 24% in the past two years, while the S&P 500 has
Disney has announced that it will be increasing the prices of its streaming platforms starting in mid-October. The new pricing model will see most plans for Disney+, Hulu, and ESPN+ go up by $1 to $2 per month. The most significant increase will be for the most expensive plans for Hulu, including live TV, which
Yum Brands recently reported a mixed quarter with both Pizza Hut and KFC experiencing declining same-store sales. The company’s CEO, David Gibbs, attributed this to the impacts of the Middle East conflict and a more cost-conscious consumer base. Yum Brands reported second-quarter earnings per share of $1.35 adjusted, slightly beating analysts’ expectations of $1.33. However,
In the wake of major disruptions last month, Delta Air Lines CEO Ed Bastian is offering employees two free travel passes as a token of appreciation for their efforts during the chaos. The disruptions were caused by a botched CrowdStrike software update which left thousands of customers and crew members stranded. Delta had a harder
Jeff Bezos, the founder and executive chairman of Amazon, has been attracting attention not just for his lavish real estate purchases, but also for his significant investments in artificial intelligence. While Bezos is known for his tech-focused investments, his recent buying binge in the AI sector through his family office, Bezos Expeditions, has been particularly
DraftKings, one of the leading mobile betting platforms, recently announced plans to introduce a gaming surcharge on winning bets in states with high sports betting tax rates. This decision comes as the company aims to increase its profits in the face of growing tax burdens imposed by several states on sports betting operators. Starting next
The U.S. Food and Drug Administration recently announced that all doses of Eli Lilly’s highly popular weight loss injection Zepbound and diabetes drug Mounjaro are now available in the United States. This update comes as a relief to many individuals who have been struggling to access these medications due to previous shortages. It was reported
Tadge Juechter, famously known as the “godfather” of the modern Corvette, recently retired after an illustrious career spanning almost 50 years with General Motors. His journey began back in 1985 when he delved into research to determine the market viability of a high-performance model of the Corvette ZR1. Fast forward to 2025, and the Chevrolet