Tesla defends Musk pay as investors split

 

Tesla’s bid to give Elon Musk a nearly $1 trillion stock award, tied to goals like building a million humanlike robots and lifting valuation to $8.5 trillion, has rekindled questions about whether ever-bigger pay truly motivates. Studies cited in the debate find scant evidence that higher executive pay yields better...

FAA eyes ten percent cuts amid shutdown

 

Amid a 36-day government shutdown, the FAA is preparing to cut airline capacity by 10% across 40 high volume areas, potentially affecting hubs in Atlanta, Dallas, New York City and Los Angeles. Transportation Secretary Sean Duffy said reductions will start Friday and reach the full level next week to cope...

Snap shares soar on Perplexity AI partnership

 

Snap Inc. shares leaped more than 25% in extended trading after the company unveiled a $400 million partnership with Perplexity AI to bring its AI-powered search to Snapchat. The deal opens a new business line and puts the company more squarely into the AI chatbot and assistant mix. CEO Evan...

Google Play and YouTube exit Movies Anywhere

 

Movies Anywhere quietly announced that Google Play and YouTube no longer participate in its cross-platform library syncing, a move that appears linked to Disney’s feud with Google. The notice, dated October 31, coincides with Disney-owned networks like ABC and ESPN leaving YouTube TV amid a contract dispute and missing titles...

NTSB details wing fire before UPS crash

 

Federal investigators say a UPS cargo jet erupted in flames on its left wing and lost an engine moments after takeoff from Louisville, then crashed and exploded, killing at least 12. The MD-11 freighter, departing for Honolulu with three aboard, scattered wreckage across a half-mile before striking structures off airport...

Sinclair CEO criticizes blackouts and carriage disputes

 

Sinclair Broadcast Group CEO Chris Ripley used a Wednesday earnings call to condemn the ABC blackout affecting about 10 million YouTube TV subscribers, saying local broadcasters have no say over whether their paid-for content reaches viewers. He argued the standoff violates the Communications Act’s intent and may raise antitrust concerns,...

DoorDash shares plunge as EPS misses estimates

 

DoorDash’s third-quarter report sent shares down 14% as earnings missed forecasts while revenue beat. EPS was 55 cents versus 69 cents expected, and revenue rose 27% to $3.45 billion. Net income reached $244 million, and orders grew 21% to 776 million, just above FactSet’s tally. The company plans to spend...

Elf Beauty sinks on cautious outlook despite Rhode

 

E.l.f. Beauty shares tumbled 29% after full-year guidance underwhelmed, despite a boost from Hailey Bieber’s Rhode. The company projects $1.55 billion to $1.57 billion in revenue and adjusted EPS of $2.80 to $2.85, both below LSEG expectations, while Rhode is slated to add $200 million this year and $300 million...

Robinhood Surge Faces Valuation Test Wednesday

 

Robinhood Markets has become one of Wall Street’s standout winners since Donald Trump’s election victory, with shares up about 450% through Tuesday, far outpacing the S&P 500’s 17% gain. The platform is the biggest gainer among companies worth at least $10 billion ahead of the 2024 election, Bloomberg data show....

France suspends Shein access amid Paris protests

 

France suspended access to Shein’s website pending proof it complies with national laws, after officials found sex dolls resembling children for sale, which the consumer fraud agency deemed of a child pornography nature. The crackdown, ordered by Prime Minister Sébastien Lecornu, coincided with the retailer’s first physical store opening in...