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☆ Comcast offers subscribers Peacock, Netflix and Apple TV+ bundle
▼ + stars: | 2024-05-14 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +1 min

Comcast said Tuesday it will introduce a streaming bundle for its cable, broadband and mobile subscribers, tying together Peacock, Netflix and Apple TV+ at a discounted rate. Comcast's offer follows a model similar to several bundles from Verizon : Its streaming bundle will be offered to existing Comcast subscribers, which could help prop up its pay-TV subscribers. The company lost 487,000 cable TV customers during the first quarter, Comcast reported during earnings on April 25. Peacock subscription plans start at $5.99 per month, though that's increasing to $7.99 per month this summer. Netflix plans start at $6.99 per month, and Apple TV+ costs $9.99 per month.

Persons: Peacock, Max, Comcast's, Brian Roberts, —, Kerry Caufield, Lillian Rizzo, Alex Sherman Organizations: Comcast, Netflix, Apple, Disney, Warner Bros . Discovery, Verizon, CNBC Locations: New York

Kevin Plank, founder of Under Armour, during a CNBC interview on "Mad Money" on Feb. 28, 2018. Under Armour announced on Wednesday that CEO Stephanie Linnartz is stepping down from her role just over a year after she started, and founder Kevin Plank will return as the brand's chief executive. Linnartz took over as Under Armour's CEO in February 2023 after spending nearly 30 years at Marriott International, most recently as its president. Plank will remain a director on Under Armour's board but will hand over the chair position to Mohamed El-Erian, chief economic advisor at Allianz, Pimco's parent company. In a statement, Linnartz said she feels "honored" to have served as Under Armour's CEO.

Persons: Kevin Plank, Armour, Stephanie Linnartz, Linnartz, Plank, Mohamed El, Stephanie Organizations: CNBC, Marriott International, Allianz, Armour's

A person walks past an unpainted Boeing 737-8 MAX parked at Renton Municipal Airport adjacent to Boeing's factory in Renton, Washington on January 25, 2024. The company's 737 program head, Ed Clark, is leaving the company, Stan Deal, CEO of Boeing's commercial airplane unit, said in memo to employees. "Ed departs with my, and our, deepest gratitude for his many significant contributions over nearly 18 years of dedicated service to Boeing," Deal said. A month after the Alaska Airlines flight, Boeing said misdrilled holes on some Max planes would delay handovers of the aircraft to airlines. The door plug that blew out of the almost brand-new 737 Max 9 used for Alaska Airlines Flight 1282 has already brought increased scrutiny and restrictions from federal regulators.

Persons: Max, Ed Clark, Stan Deal, Katie Ringgold, Deal, Elizabeth Lund, Lund, Ed, it's Organizations: Renton Municipal Airport, Boeing, Alaska Airlines, National Transportation Safety, Federal Aviation Administration, Airbus, CNBC PRO Locations: Renton, Renton , Washington, Alaska, United

Sports streaming platform FuboTV is suing Disney , Fox and Warner Bros. Discovery over their recently announced joint venture, citing what the company calls "extreme suppression of competition in the U.S. sports-focused streaming market," according to a copy of the lawsuit obtained by CNBC. The joint venture, announced earlier this month, aims to offer viewers a new way to access marquee live sports. "These horizontal competitors are colluding to create a JV that will cause substantial harm to competition and consumers," the complaint reads. A spokesperson for the joint venture declined to comment.

Persons: David Gandler Organizations: Disney, Fox, Warner Bros, Discovery, CNBC, JV, ESPN, Hulu Locations: U.S

☆ JetBlue shares jump 15% as activist Carl Icahn reports stake and calls shares undervalued
▼ + stars: | 2024-02-12 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +2 min

Activist investor Carl Icahn on Monday reported a nearly 10% stake in JetBlue Airways , saying the airline stock is undervalued. Shares of JetBlue spiked more than 15% in extended trading. Icahn amassed the stake in a series of purchases in January and February, according to regulatory filings. He has had plans to continue discussions with the company "regarding the possibility of board representation," the records said. JetBlue has been cutting costs and working to improve operations in an effort to return to profitability after a post-Covid travel surge and a blocked merger with budget carrier Spirit Airlines.

Persons: Carl Icahn, Icahn, Joanna Geraghty, —, John Melloy, Leslie Josephs Organizations: JetBlue Airways, JetBlue, Icahn, TWA, Spirit Airlines, NYSE Arca, CNBC PRO

☆ Paramount CEO announces layoffs as cost pressures, take-private talks build
▼ + stars: | 2024-01-25 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +2 min

Paramount CEO Bob Bakish announced layoffs at the media company Thursday, citing a need to "operate as a leaner company and spend less." Paramount did not immediately disclose how many jobs the company would cut. The company reports quarterly earnings at the end of February and plans to elaborate on its 2024 strategy then. The cuts come as a range of companies in the media industry and beyond announce layoffs while they push to trim costs. The layoffs also come as David Ellison's Skydance Media explores a deal to take Paramount private, CNBC reported Wednesday.

Persons: Bob Bakish, Bakish, David Ellison's Skydance Organizations: Paramount, Los Angeles Times, Business, Sports, CNBC, Hollywood, CNBC PRO

An Alaska Airlines Boeing 737 Max 9 aircraft is grounded at Los Angeles International Airport in California on Jan. 8, 2024. The FAA grounded dozens of the jets following that Alaska Airlines incident, and Boeing on Monday issued instructions for inspecting the jets, which were approved by the FAA. Upon receiving the revised version of instructions from Boeing the FAA will conduct a thorough review," the FAA said in a statement Tuesday. "Every Boeing 737-9 Max with a plug door will remain grounded until the FAA finds each can safely return to operation," the agency said. "The safety of the flying public, not speed, will determine the timeline for returning the Boeing 737-9 Max to service."

Persons: Max Organizations: Alaska Airlines Boeing, Max, Los Angeles International, Aircraft, Boeing, Alaska Airlines, United Airlines, Federal Aviation Administration, FAA, National Transportation Safety Board, NTSB, CNBC PRO Locations: California, Alaska, Washington, Oregon

Robin Hayes, CEO of JetBlue Airways, speaks to guests following the airline's inaugural flight from John F. Kennedy Airport in New York to London Heathrow Airport in London on Aug. 12, 2021. JetBlue CEO Robin Hayes will step down next month, the company said Monday. The airline's chief operating officer, Joanna Geraghty, will take the helm. Hayes, a more than three-decade airline industry veteran, cited the high-pressure nature of the job in announcing his resignation via a company statement. "It's bittersweet to retire from this airline I love, but I will always feel a part of the JetBlue team and be rooting for its continued success," Hayes said.

Persons: Robin Hayes, John F, Joanna Geraghty, Hayes, Geraghty Organizations: JetBlue Airways, Kennedy, London Heathrow Airport, JetBlue, Spirit Airlines, U.S . Department of Justice Locations: New York, London, Delta, Boston

☆ How an F1 spending cap made racing teams more investable
▼ + stars: | 2023-11-16 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +1 min

That's how the heads of Formula 1 racing see it, crediting a league-wide budget cap with making the team businesses more sustainable and boosting valuations. "When we got involved, literally, the bottom teams were being traded for zero. The budget cap — set at $135 million per team in 2023 — limits how much teams can spend on developing and building their race cars. Before it was introduced in 2021, the top teams in the league could spend multiples of that in a given year. It's a model similar to U.S. sports leagues, several of which limit what teams can spend on player salaries (though F1 driver salaries are excluded) — and it's the work of F1-owner Liberty Media, which bought the league in 2017.

Persons: Greg Maffei, CNBC's Sara Eisen, It's, Maffei Organizations: Liberty Media Locations: U.S

Red Bull Racing's dominance in Formula 1 this year is translating directly to higher sales of its namesake energy drink, the team's principal and CEO, Christian Horner, told CNBC. The Red Bull team, which also counts tech giant Oracle as a title sponsor, has trounced the grid this season, winning 19 of the 20 Grand Prix weekends so far. The Red Bull team secured the constructors championship the weekend prior, in Japan. Red Bull declined to share specific sales metrics, but a company spokesperson reiterated the F1 "uplift" and said it's particularly noticeable in corresponding race markets. It's incredible the amount of consumption of Red Bull that is happening," Horner told CNBC.

Persons: Bull, Christian Horner, Horner, CNBC's Sara Eisen, Max Verstappen, Sergio Perez, Verstappen, Red Bull Organizations: CNBC, Red Bull Locations: Saudi Arabia, Azerbaijan, Qatar, Japan, Las Vegas, Abu Dhabi, Red

☆ FAA clears SpaceX to launch second Starship flight
▼ + stars: | 2023-11-15 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: 1 min

The SpaceX Starship lifts off from the launchpad during a flight test from Starbase in Boca Chica, Texas, on April 20, 2023. The Federal Aviation Administration has cleared Elon Musk's SpaceX to launch the second spaceflight attempt of its towering Starship rocket, the agency said Wednesday. The company needed approval from the FAA pending an environmental review led by the FAA and the U.S. Musk said earlier this week he expected to receive clearance to attempt another launch as early as this week. Please check back for updates.

Persons: Musk Organizations: SpaceX, Federal Aviation Administration, Elon, FAA, U.S . Fish, Wildlife Service Locations: Starbase, Boca Chica , Texas, U.S

☆ SpaceX reportedly turned a profit in the first quarter
▼ + stars: | 2023-08-17 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +1 min

SpaceX turned a profit during the first quarter due to surging revenue, The Wall Street Journal reported Thursday, citing documents detailing the privately held company's quarterly and annual results. The Journal reports that SpaceX posted a first-quarter profit of $55 million on revenue of $1.5 billion. For the full year 2022, Elon Musk's rocket company posted a loss of $559 million on revenue of $4.6 billion, the report says. SpaceX tallied $5.2 billion in total expenses last year, up from $3.3 billion the year earlier, according to the Journal. Read the full report at The Wall Street Journal.

Persons: Elon, SpaceX didn't Organizations: SpaceX, Street, Elon Musk's, Journal, Wall Street

☆ Twitter says rate limits were to help thwart bots, 'small percentage' of users currently affected
▼ + stars: | 2023-07-04 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +1 min

Recent usage limits on Twitter were implemented to "detect and eliminate bots and other bad actors," the company said Tuesday, adding that only a "small percentage" of users are currently affected. "To ensure the authenticity of our user base we must take extreme measures to remove spam and bots from our platform," Twitter said in a blog post. Twitter billed the restrictions as temporary, and they were tiered based on a user's verification status on the platform. The update came as many Twitter users encountered error messages when trying to access the platform. "Currently, the restrictions affect a small percentage of people using the platform, and we will provide an update when the work is complete.

Persons: Twitter, Elon Musk Organizations: Twitter

☆ Cava prices IPO at $22 per share, above stated range
▼ + stars: | 2023-06-14 | by ( Sara Salinas | In Saracsalinas | ) www.cnbc.com time to read: +1 min

Mediterranean fast-casual restaurant chain Cava priced its initial public offering at $22 per share, above a previously stated range, the company said Wednesday. Cava said it sold 14.4 million shares, which at a price of $22 per share, raises nearly $318 million. At $22 per share, the company is valued at roughly $2.45 billion, based on an outstanding share count of more than 111 million shares. Last year, Cava reported net sales of $564.1 million, up 12.8% from the year prior. However, its reported net loss was $59 million, wider than a net loss of $37.1 million in 2021.

Persons: Cava, — CNBC's Amelia Lucas Locations: Cava, Pasadena , California

Jane Fraser, CEO of Citigroup Inc., during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations" at the Economic Club of Washington in Washington, D.C., March 22, 2023. Citigroup said Wednesday it plans to pursue an initial public offering of its Mexico business, Banamex, scuttling a 16-month effort to find a buyer for the unit. The bank expects to complete the separation in the second half of 2024, with a public offering likely to follow in 2025, Citigroup said in a release. It hasn't yet decided on a listing destination, but a dual listing in Mexico and the U.S. is possible, a source familiar with the plans told CNBC. Plans to sell or IPO Banamex were disclosed in January 2022.

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