Coverage: Wells Fargo overhauls board in response to scandal

Wells Fargo & Co. is replacing three board members, with Vice Chair Betsy Duke replacing retiring Chairman Stephen Sanger next year, changes announced Tuesday in response to shareholder displeasure over the bank’s sales practices scandal. Dan Freed of Reuters had the news: Sanger will retire at year-end, even though he will not reach mandatory retirement age […]

Coverage: Merck CEO drops out of presidential council after Charlottesville

Merck & Co. Chief Executive Kenneth Frazier resigned from President Donald Trump’s American Manufacturing Council on Monday, saying he was taking a stand against intolerance and extremism. Michael Erman of Reuters had the news: Trump denounced neo-Nazis and the Ku Klux Klan as criminals and thugs on Monday, bowing to mounting political pressure after initially saying […]

Coverage: Blue Apron stock falls on higher expenses

Shares of Blue Apron plunged Thursday after the meal-kit delivery company said during its earnings call that it was encountering unexpected costs tied to starting up a new facility. Sarah Whitten of CNBC.com had the news: These costs, as well as further cuts in marketing spending, will likely result in more losses in the second half of the […]

Coverage: Tesla wants to test an autonomous driving truck

Tesla Inc. has met with California and Nevada agencies about testing an autonomous semi truck ahead of Chief Executive Officer Elon Musk’s unveiling of the next addition to the electric-car maker’s lineup. Dana Hull of Bloomberg News had the news: The California Department of Motor Vehicles is meeting with Tesla on Wednesday, said Jessica Gonzalez, a spokeswoman […]

ABC’s “pink slime” settlement exceeded $177 million

A legal settlement between ABC and a South Dakota meat producer in a defamation lawsuit over the network’s reports on a beef product that critics dubbed “pink slime” exceeded $177 million. James Nord of the Associated Press reported, “Disney, which owns ABC, disclosed a $177 million legal settlement charge in a filing with a government securities […]

Coverage: Ralph Lauren rises as it tightens discounting

Ralph Lauren Corp. reported better-than-expected quarterly results and said it would pull back more inventory from department stores as it tries to keep a tight leash on discounting under its new Chief Executive Patrice Louvet. Gayathree Ganesan of Reuters had the news: Shares of the company soared as much as 11 percent to $87 in morning […]

Coverage: Netflix gets into the comics business

Netflix just made a deal with the creative mind behind blockbuster movies including Captain America: Civil War and Logan, agreeing Monday to acquire comic book publisher Millarworld. Danielle Wiener-Bronner of CNNMoney.com had the news: You may not be familiar with Millarworld, but you’ve likely heard of founder Mark Millar’s work. Before he created Millarworld, Millar wrote […]

Coverage: Avon CEO to exit amid investor pressure

Avon Products Inc., which has been under pressure from activist investor Barington Capital, said Sheri McCoy will step down as chief executive next year, and the company reported a loss. Paul R. La Monica of CNNMoney.com had the news: The news of McCoy’s departure comes one day after Oreo and Cadbury owner Mondelez said that longtime CEO […]

Coverage: Tesla stock rises 7 percent despite bigger loss

Shares of electronic automobile manufacturer Tesla rose by more than 7 percent in after-hours trading despite the company’s $401 million loss in its most recent quarter. Bill Vlasic of The New York Times had the news: Tesla may experience some fluctuations in production rates, Mr. Musk said, but “people should have zero concerns” about the company’s […]

Coverage: Apple stock rises after earnings blow away investors

Apple stock rose by more than 5 percent in after-hours trading Tuesday after it beat Wall Street’s expectations for earnings per share and revenue and also issued strong revenue guidance for its fourth fiscal quarter, suggesting strong sales growth year-over-year. Kif Leswing of Business Insider had the news: The strong guidance also hinted at the launch of a redesigned […]