Shares of Bloomin’ Brands, the parent company of Outback Steakhouse, experienced a surge of 9% in premarket trading on Friday following the disclosure of an activist investor’s interest in the restaurant company. Starboard Value, the activist investor, has now acquired a 9.9% stake in Bloomin’ Brands, according to a regulatory filing. This news comes amidst
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Moderna, a biotech company at the forefront of Covid vaccine development, has revealed promising results in an early clinical trial of its updated Covid-19 vaccine. The trial demonstrated a robust immune response against the dominant Eris variant and another rapidly spreading strain known as Fornax. While the vaccine has been specifically designed to target the
Target, one of the largest big-box retailers in the United States, reported disappointing sales figures for the quarter and slashed its full-year forecast. Despite an improvement in quarterly earnings and inventory levels, the company’s struggles to convince consumers to buy more than necessities have persisted. This article analyzes Target’s challenges and explores its efforts to
Television has long been a staple in households around the world, providing entertainment, news, and information. However, the landscape of television is undergoing a dramatic shift as traditional TV usage continues to decline while the prices of streaming services rise. This article delves into the reasons behind this decline, the rise of streaming services, and
President Joe Biden is urging the United Auto Workers (UAW) and Detroit automakers to reach a “fair agreement” that avoids plant closures and ensures a smooth transition to a clean energy future. Recognized as the “most pro-union president,” Biden sees the upcoming contract negotiations as an opportunity for all parties involved. With approximately 150,000 unionized
The Canadian telecommunications satellite operator, Telesat, has sent shockwaves through the industry by announcing a change in suppliers for its upcoming Lightspeed global internet network. In a surprising move, Telesat has decided to partner with Canadian space company MDA instead of the previously contracted manufacturer, Thales Alenia Space. This strategic shift is projected to result
Recently, wildfires on the Hawaiian island of Maui led to the deaths of at least 36 individuals and forced evacuations. As a response to this tragic situation, several major airlines have stepped up their services to assist travelers in leaving the island and ensuring their safety. Recognizing the urgent need to transport individuals away from
Disney’s ESPN has made a significant move by partnering with Penn Entertainment to enter the world of sports betting. The collaboration will result in the rebranding and relaunch of Penn’s sportsbook as ESPN Bet, marking the first time ESPN’s brand will be associated with a sports-betting platform. This article delves deep into the details of
The mortgage industry has experienced a significant shift in recent months, making it increasingly difficult for borrowers to obtain a mortgage. Along with the rising mortgage rates, the Mortgage Bankers Association (MBA) reports that credit availability in July hit its lowest level since 2013. This decline in credit availability indicates that lending standards are tightening
The sports platform Fanatics and its competitor Panini have recently found themselves embroiled in a legal battle, with both companies filing lawsuits against each other. These trading card rivals are facing off in court, each accusing the other of various wrongdoings and breaches of duty. While this dispute revolves around licensing rights for professional sports