Reported 5 months ago
Eli Lilly has announced a $5.3 billion investment in its new Indiana manufacturing plant, totaling $9 billion, to meet the high demand for its weight-loss and diabetes drugs like Zepbound and Mounjaro. The investment will increase production of active pharmaceutical ingredients for these drugs, which are currently in short supply in the U.S. The company has committed a total of $16 billion to new manufacturing sites since 2020 and expects the Lebanon site to start producing medicines by the end of 2026. Additionally, Lilly plans to add 200 full-time jobs to the Lebanon plant as part of the investment.
Source: YAHOO
Reported 5 months ago
In late May, US consumers moderated their inflation expectations, with data from the University of Michigan showing a decrease in the anticipated annual inflation rate over the next year to 3.3% from 3.5% earlier in the month. Consumers also adjusted their expectations for inflation over the next five to 10 years to 3%. Despite a slight improvement in sentiment from the preliminary reading, the final consumer sentiment index dropped 8.1 points from April to a six-month low of 69.1, reflecting ongoing concerns about high prices, borrowing costs, and the labor market. Additionally, consumers are less optimistic about interest rate cuts and expect challenges in income growth and job opportunities, posing potential obstacles for President Joe Biden's re-election bid.
Source: YAHOO
Reported 5 months ago
The University of Michigan's Consumer Sentiment Index fell to 69.1, which was higher than expected but a decrease of 8.1 points from the previous month. The report indicates concerns about business conditions, personal finances, labor markets, and expectations of rising unemployment rates and slowing income growth among US consumers.
Source: YAHOO
Reported 5 months ago
The article discusses how shippers had significant leverage in the freight market due to excess capacity keeping rates low, causing them to demand rate concessions from carriers. With truckload spot rates at historic lows, carriers experienced profitability lows, prompting warnings of a potential "carrier revenge" as shippers continued to push for rate cuts. The article highlights the risk shippers face as an extreme hurricane season is forecasted, potentially leading to disruptions and a shift in market dynamics that could favor carriers, resulting in possible retaliatory actions.
Source: YAHOO
Reported 5 months ago
Josh Brolin, known for his acting roles, has ventured into directing and expressed a lack of patience for difficult actors in a recent interview. Brolin, who recently directed an episode of "Outer Range," emphasized his no-nonsense approach to work and highlighted the positive aspects of directing. Despite his new role, he mentioned that he won't quit acting entirely but finds directing to be more aligned with his personal sensibilities.
Source: YAHOO
Reported 5 months ago
U.S. drug distributor Cencora has notified individuals that their personal and highly sensitive medical information was stolen during a cyberattack and data breach earlier this year, as disclosed by the company in February. The stolen data, which may contain personal information, has not been publicly disclosed or misused. Cencora is actively notifying affected individuals and providing resources to help protect their information. The breach was related to a prescription supply program offered by its subsidiary, Medical Initiatives Inc., and included details like first name, last name, and prescriptions.
Source: YAHOO
Reported 5 months ago
Barcelona has sacked head coach Xavi Hernández, despite convincing him to stay for another year just a month ago. Xavi's fate was sealed after reportedly angering the club's president with comments about their financial struggles. Former Bayern Munich manager Hansi Flick is lined up to replace him, with uncertainty over the potential financial cost to Barcelona for dismissing Xavi and his coaching staff. Xavi will manage his final game against Sevilla this weekend before departing, and Barcelona is expected to announce a new first-team structure in the coming days.
Source: YAHOO
Reported 5 months ago
Chicago Sky forward Angel Reese emphasized that the rise in the WNBA's profile should be credited to multiple players, not just Caitlin Clark, who has been receiving much attention for her impact on the league. Reese highlighted the contributions of other rookies like Kamilla Cardoso, Cameron Brink, and Rickea Jackson, stating that the narrative of one player changing the game is inaccurate. She pointed out the collective efforts of various players in shaping the future of the league, emphasizing that there are many great players making an impact.
Source: YAHOO
Reported 5 months ago
The NFL is being criticized for marginalizing its own broadcast operation, NFL Network, despite its two-decade existence. The decision to move programs and cancel others is seen as a cost-cutting measure, with the focus shifting away from studio shows and talent that may not drive significant revenue. With the lack of fresh content and meaningful conversation about the NFL, the article suggests that the league should consider selling exclusive games and shutting down NFL Network to maximize profit, emphasizing a shift towards a more business-oriented approach rather than valuing publicity and messaging.
Source: YAHOO
Reported 5 months ago
The article discusses how the market rally couldn't be sustained despite Nvidia's strong earnings, with Seana Smith and Brad Smith interviewing Truist Co-Chief Investment Officer Keith Lerner about the market dynamics. Lerner attributes the muted market reaction to high expectations around Nvidia's earnings and suggests that market focus is now shifting towards anticipating the Fed's actions and looking for disinflationary pressures as the next catalyst for market growth. Despite signs of exuberance in the market, Lerner believes the primary trend remains positive but anticipates a more volatile and choppy period ahead.
Source: YAHOO
Reported 5 months ago
Intuit's stock fell after the company reported better-than-expected fiscal third-quarter results but issued a weak fourth-quarter earnings outlook, expecting adjusted EPS of $1.80 to $1.85 compared to an estimate of $1.93. Additionally, Intuit disclosed a drop of about one million free users in its TurboTax unit, raising concerns about increased competition. The company raised its full-year revenue forecast but fell short of street expectations, leading to a 6% loss in the stock price. Analysts noted an executive change in the Credit Karma business and the impact of losing lower-paying and free customers on investor sentiment.
Source: YAHOO
Reported 5 months ago
After a historic settlement reached by class-action attorneys with the NCAA and power conferences, $2.8 billion will be distributed in back damages to former athletes, and a revenue-sharing model for athletes in the future is set to revolutionize compensation. Schools will share 22% of their average athletic department revenue annually, with no constraints on distribution, but Title IX implications remain. Booster collectives may continue post-settlement, and changes to rosters, the portal, and athlete contracts are expected.
Source: YAHOO
Reported 5 months ago
Jeremy Renner surprised himself by being able to do all his own stunts on the set of "Mayor of Kingstown" after a near-fatal snow plow accident, breaking more than 30 bones. In an exclusive Paramount+ featurette, Renner, 53, shared his surprise at being able to perform the stunt work, describing it as "pretty violent" and unexpected given his injuries. Season 3 of the series is set to feature new big players and a more intense storyline, with Renner's costar and executive producer Hugh Dillon praising his recovery and dedication to the role.
Source: YAHOO
Reported 5 months ago
Sony Hall in Manhattan has revamped its booking team with senior talent buyer Jack McFadden, talent buyer Alli Vega, and junior talent buyer Niko Murray, aiming to strengthen its presence in the live music industry. In other news, Loeb & Loeb added Monika Tashman as a partner in Nashville, Galaxy Label Group bolstered its promotions team with four hires, and Buchalter expanded its legal presence in Nashville with eight new attorneys. Additionally, BMI promoted Gabriella Natali, UTA welcomed Lucy Pullin and Virgil Thomas, and Mahogany appointed Dom Wallace as label and marketing manager. Earn Alliance named Kimberly Knoller as its new CMO, while Karta hired Morgan Evans and Sarah Richards for key roles.
Source: YAHOO
Reported 5 months ago
The Securities and Exchange Commission has allowed the New York Stock Exchange and Nasdaq to list spot ether exchange-traded funds (ETFs), marking a significant move for ethereum. Bloomberg Intelligence ETF Research Analyst James Seyffart explains that an ether ETF can exist due to a federally regulated futures market like bitcoin, despite altcoins not having a shot at an ETF soon. Seyffart notes that while an ether ETF will be a "monster success," ethereum loses utility within an ETF. Despite initial doubts, the shift in political support for cryptocurrencies in Congress suggests a favorable environment for the approval of an ether ETF, which could see demand reach a fraction of that seen for bitcoin ETFs. The timeline for final approvals remains uncertain, with the potential for a launch in weeks to months.
Source: YAHOO
Reported 5 months ago
Charter Communications, the parent company of Spectrum cable TV, has signed a new multi-year distribution agreement with Paramount Global for its streaming services and broadcast channels, including CBS and Paramount Plus. This deal ensures that Charter will continue to carry all of Paramount's networks, with subscribers receiving ad-supported versions of Paramount Plus and Bet Plus at no extra cost. The agreement is seen as a significant win for Paramount, as it secures the availability of its channels on Charter's platform, potentially impacting Paramount's subscriber count and financial performance positively.
Source: YAHOO
Reported 5 months ago
Oscar-nominated documentarian Morgan Spurlock, known for "Super Size Me" and "Where In the World Is Osama Bin Laden?", died at the age of 53 in New York due to cancer complications. His family announced his passing, remembering him as a creative genius who made significant contributions through his documentaries. Spurlock's work, including over 70 films and TV series produced with Warrior Poets, made an impact on discussions about fast food and other social issues. He had previously addressed MeToo accusations publicly and advocated for accountability and self-improvement. Spurlock is survived by his two sons, mother, father, brothers, nieces and nephews, and former spouses.
Source: YAHOO
Reported 5 months ago
Key dates for the 2024 NBA offseason include the NBA Finals from June 6-23, the start of limited free agency negotiations the day after the Finals end, the NBA Draft on June 26-27, the beginning of full free agency negotiations on June 30, the start of the free agency signing period on July 6, and the NBA Summer League taking place from July 12-22.
Source: YAHOO
Reported 5 months ago
"Flow" is a groundbreaking animated film directed by Gints Zilbalodis that follows a black cat as the central character who embarks on a journey with other animals after humanity mysteriously disappears. The film is praised for its emotional depth and naturalistic portrayal of the animal characters without anthropomorphizing them, reminiscent of Disney's early animal animations like "Bambi." With a dialogue-free narrative and stunning visuals, "Flow" is described as a moving and accessible film that transcends language barriers, making it a triumph of both commerce and art.
Source: YAHOO
Reported 5 months ago
Actor and director Tony Goldwyn credits the success of his 37-year marriage to his wife, production designer Jane Musky, to the key ingredient of "respect." Goldwyn emphasizes the importance of loving a person for who they are and appreciating both their strengths and weaknesses. The couple, who are parents to two daughters, have only worked together a few times in their careers but continue to support each other. Goldwyn, known for his roles in productions like "Scandal," recently directed and starred in the film "Ezra," alongside Robert De Niro and Whoopi Goldberg.
Source: YAHOO
Reported 5 months ago
Deidre Hall, who has portrayed Dr. Marlena Evans on "Days of Our Lives" for nearly 50 years, expressed her desire to see her character face a serious illness storyline after enduring various dramatic events on the show. Hall also mentioned her real-world skill in sign language that she would like to incorporate into Marlena's character, as well as her passion for helping with hair styling behind the scenes. Reflecting on her long career as an actress, Hall emphasized the joy and gratitude she feels for being able to work steadily in the unpredictable entertainment industry.
Source: YAHOO
Reported 5 months ago
The 108th edition of the Indianapolis 500 features a field loaded with speed and past champions, with Team Penske leading the front row and Scott McLaughlin grabbing the pole position. Eight previous winners are among the 33-car field, including Helio Castroneves, Takuma Sato, and Kyle Larson, who aims to be the fifth driver in history to tackle both the Indy 500 and the Coca-Cola 600 on the same day. The race will be broadcast live on NBC and Peacock, with Larson considered a favorite to make history by winning both races.
Source: YAHOO
Reported 5 months ago
The Oakland Athletics secured $380 million in public funding from the Nevada legislature to build a new ballpark in Las Vegas with a commitment to stay for at least 30 years, but the agreement includes an unusual escape clause allowing the team to leave without penalty if targeted taxes are imposed on them. This clause, not commonly seen in such agreements, could potentially jeopardize the economic impact promised by the team's relocation. Despite the provision, experts believe that the A's moving out of Las Vegas due to a targeted tax is not highly likely, as relocating a team involves various challenges and MLB approval.
Source: YAHOO
Reported 5 months ago
The article from TheStreet reports that there is a record number of Americans who are 401(k) millionaires, with 485,000 people having an account balance of $1 million or more, a 43% increase from the previous year. Fidelity attributes this milestone to high contribution levels and bullish market conditions, with the average account holder saving for 26 years and contributing 17% of their income. The average balance for 401(k) millionaires is $1.58 million, and the overall savings rate for all contributors, including employer matches, is at a record 14.2%.
Source: YAHOO