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download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewBodybuilder Nick Walker said a simple technique has helped him pack on muscle without maxing out on heavy weights. This story is available exclusively to Business Insider subscribers. Walker is no stranger to moving big weights but said lifting heavy is less of a priority now. Instead, he's been incorporating slow negatives, a technique for maximizing muscle growth with slightly less weight.
Persons: , Nick Walker, Walker, he's, Dave Rienzi, Dwayne, Johnson Organizations: Service, New York Pro, Business
Read previewBoeing won't be expanding its fleet of its 737 Max planes anytime soon, according to the FAA. Although no passengers were seriously injured, the FAA barred Boeing from expanding production on Max plane models until quality and safety issues were addressed. FAA administrator Mike Whitaker discusses Boeing quality and safety issues at press conference on May 30, 2024. The FAA grounded 171 Boeing 737-9 Max planes in January before launching its investigation into Boeing's production lines and manufacturing practices. The FAA grounded 171 Boeing 737 Max planes.
Persons: , Mike Whitaker, Andrew Harnik, Michael Whitaker, Whitaker, Max, PATRICK T, FALLON, Dave Calhoun, Stephen Brashear, they've Organizations: Service, Boeing, FAA, Alaska Airlines, Business, Getty, CBS News, Management, Max
CNN —An unusual horned comet notable for a series of outbursts, nicknamed the “devil comet,” will make its closest approach of Earth on Sunday around 3 a.m. Given that the comet won’t pass by Earth again for decades, collective observations by astronomers could provide key insights into its true nature and behavior. Officially known as Comet 12P/Pons-Brooks, the celestial object made its closest pass of the sun on April 21, coming within 74.4 million miles (119.7 million kilometers) of our star. The comet will make its closest pass of Earth on Sunday, but it will be more than 143 million miles (230 million kilometers) away from our planet and won’t pose a risk. An overlapping series of events likely has contributed to Pons-Brooks’ distinctive look, but it could also be due to our perspective of the comet, Kareta said.
Persons: Pons, Brooks, Gianluca Masi, Dave Schleicher, , Teddy Kareta, Jean, Louis Pons, William Robert Brooks, ” Schleicher, Kareta, Schleicher, , it’s, 12P, Theodore Kareta, ” Kareta Organizations: CNN, Northern, Southern, Millennium, , Telescope, Lowell Observatory, Lowell, Pons, , Lowell Discovery Telescope Locations: Italy's Tuscany, Arizona, Pons
Instead, his company has inadvertently been a source of deep pain for thousands of customers who relied on Yotta accounts to receive paychecks, pay bills and save for emergencies. For the past three weeks, 85,000 Yotta customers with a combined $112 million in savings have been locked out of their accounts, Moelis told CNBC. Accounts at crypto firm Juno and at Copper, which offered savings accounts for families and teens, also have been frozen. Adam Moelis, Co-Founder at Yotta Savings. Representatives of the agencies have pointed to efforts they've made to encourage banks to manage the risks of using fintech partners.
Persons: Oscar Wong, Adam Moelis, Trust —, Moelis, Dave, We've, they've Organizations: Synapse, Bank, Trust, CNBC, Evolve Bank, Evolve, Mercury, Yotta Savings, Federal Reserve, Federal Deposit Insurance Corp Locations: Tennessee, Yotta, fintech
But in closing arguments, one of Mr. Bragg’s prosecutors said that Mr. Cohen had told his lies for Mr. Trump. After the election, Mr. Pecker testified, Mr. Trump summoned him to Trump Tower. The ShowdownEven that did not prove that Mr. Trump had falsified records to disguise his reimbursement of Mr. Cohen. Mr. Trump washed his hands of Mr. Cohen, who turned on the man he had once idolized. Mr. Blanche also argued that Mr. Cohen had profited from his hatred for Mr. Trump with two books and a lucrative podcast deal.
Persons: Donald J, Trump, Juan M, Merchan, anoints, Alvin L, Bragg, Trump’s, Stormy Daniels, Michael D, Cohen, Eduardo Munoz, Daniels, Mr, Michael Cohen, , Joshua Steinglass, Cohen “, ” Mr, glowered, Mike Johnson, Biden, , Donald Trump, Dave Sanders, Biden’s, Todd Blanche, Blanche, Todd Heisler, David Pecker, Pecker, nonchalantly, Hope Hicks, Hicks, Ms, The New York Times “, Justice Merchan, “ You’re, ” Ms, Allen H, Weisselberg, Susan Hoffinger, Cohen’s, Joe Piscopo, giddily, Hoffinger, Jean Carroll, Bragg’s, Wesley Parnell, Michael Rothfeld Organizations: White, Republican, Convention, Office, Reuters, Mr, Credit, The New York Times, Democratic, New York Times, National Enquirer, Trump, Playboy, Street Journal, New, Hells Angels Locations: American, Manhattan —, Lower Manhattan, , Florida, Washington, Georgia, New York, Manhattan, Trump’s Midtown Manhattan, Tahoe, Nev, America
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. The stock got way ahead of itself," Jim Cramer said. People better start believing," Cramer said, noting that prior to earnings the stock had largely been under pressure since late March. Ulta shares have been struggling since April after CEO David Kimbell warned about slowing demand for beauty products at an investor event. The Investing Club owns cybersecurity peer Palo Alto Networks .
Persons: Jim Cramer's, Dell, Jim Cramer, MongoDB, Cramer, Richard Dickson, David Kimbell, Dave Kimbell, Dave, Estee Lauder, Zscaler Organizations: CNBC, Club, Dell Technologies, Navy, Wall, CNBC Investing Club, Investing, Palo Alto Networks Locations: Banana Republic, That's
The term "Asian American" was first coined in 1968 amid the rising voices of the Third World Liberation Front student movements in California. With tensions from protests against the Vietnam War and calls for universities to invest in ethnic studies programs, the Asian American identity was born out of advocacy for multiethnic unity among the Asian diaspora. Historical photographs showcase the history of Asian American resistance movements from the 1960s to the 1980s, demonstrating the strength and resilience of the Asian American community among tenants, students, and laborers. For the next five years, Filipino and Mexican American workers continued to strike for economic justice for all farm workers. AdvertisementThe same year, Yuji Ichioka and Emma Gee, both graduate students and key organizers of the Asian American Political Alliance, coined the term "Asian American."
Persons: Delano, Cesar Chevez's Huelga, Julio Hernandez, Larry Itliong, Cesar Chavez, Gerald French, Chavez, Ted Streshinsky, Slava J, Garth Eliassen, Yuji Ichioka, Emma Gee, Dave Randolph, Sheriff Richard Hongisto, Terry Schmitt, Emil de Guzman, May Chen, Walter Leporati, Chol Soo Lee, Yip Yee Tak, Lee, John O'Hara, Chol, Lee's, Jerry Telfer, Vincent Chin, Vincent, Lily Chin, Detroit . Chin, Ronald Ebens, Michael Nitz, Ebens, Helen Zia, Victor Yang, Chin, Chin's Organizations: Liberation, Business, American, Agricultural Labor, Committee, Delano, Getty, Labor, National Farm Workers Association, United Farm Workers, Migratory Labor, National Farm Workers, University of California, University of California Regents, Black Student Union, UC Berkeley, Asian American Political Alliance, San Francisco State University, San Francisco Chronicle, San Francisco, . Police, Chinatown Community Development Center, Manilatown Heritage Foundation, Images Garment Worker, Ladies Garment Workers Union, International Ladies Garment Workers Union, San, Korean American Journalists Association, Asian, Lee Defense, Hall of Justice, The, American Citizens, Justice, Department of Justice, FBI Locations: California, Vietnam, Asia, San Francisco, Mexican, Bakersfield , California, Spanish, Washington, Delano, Sacramento, American, Berkeley, Berkeley , California, Africa, America, San, Los Angeles, Kearny, New York, Chinatown, Columbus, councilmen, San Quentin, Detroit ., Detroit
Ulta Beauty reported on Thursday fiscal first-quarter earnings that showed the effects of a slowdown its CEO had previously warned about. Ulta reported that it is now expecting net sales in the range of $11.5 billion to $11.6 billion and comparable sales in the range of 2% to 3%. The company previously guided to full-year net sales of $11.7 billion to $11.8 billion and comparable sales of 4% to 5%. Ulta CEO Dave Kimbell in April warned of cooling demand in the beauty category at an investor conference. AI-powered beauty company Oddity Tech recently told CNBC the industry isn't seeing so much a slowdown, but a shift.
Persons: Ulta, Dave Kimbell, Kimbell, Lindsay Drucker Mann, Baird, Jane Hali Organizations: LSEG, Tech, CNBC, Associates
Boeing 737 Max 8 fuselages manufactured by Spirit Aerosystems in Wichita, Kansas are transported on a BSNF train heading west over the Bozeman Pass March 12, 2019 in Bozeman, Montana. The FAA ordered the report following a near-catastrophic blowout of an airplane door panel on a new 737 Max 9 earlier this year. The FAA also barred Boeing from increasing 737 Max production until the agency was satisfied with Boeing's quality control improvements. The crisis has again tarnished Boeing's reputation, opened it to more federal scrutiny and forced it to slow 737 Max output. Boeing Chief Financial Officer Brian West last week said the company expects to burn cash this year, instead of generating cash.
Persons: Spirit Aerosystems, Dave Calhoun, Max, Mike Whitaker, Brian West, Calhoun, , West Organizations: Boeing, Max, Spirit, Federal Aviation Administration, FAA, Alaska Airlines, United, Southwest Locations: Wichita , Kansas, Bozeman, Bozeman , Montana
It is unclear if Boeing will actually release its plans to the public; FAA chief Mike Whitaker is slated to speak about the Boeing plan later on Thursday. The plan is seen as a crucial step to rebuilding the safety culture and practices of the nation’s single largest exporter. Whitaker ordered the plan from Boeing after reviewing the findings of FAA auditors who visited the company’s 737 Max assembly line. The auditors were deployed in response to the January 5 door plug blowout on Alaska Airlines flight 1282, a months-old Max. The plan may be one of Boeing’s last major milestones under Calhoun, who announced in the wake of the blowout he would join other senior managers in leaving the company this year.
Persons: Dave Calhoun, Mike Whitaker, Dave Calhoun –, Whitaker, Max, Calhoun, , Organizations: Washington CNN — Aircraft, Boeing, Federal Aviation Administration, FAA, CNN, Max, Alaska Airlines, National Transportation Safety Board Locations: Renton , Washington, Wichita , Kansas, Boeing’s Renton
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAhead of Israel's assault on Rafah, President Joe Biden issued several stark warnings to Israeli Prime Minister Benjamin Netanyahu. A $1 billion arms dealThe statement suggests Biden will continue to move forward with a $1 billion weapons package to Israel. As BI previously reported, the weapons deal could be seen as an attempt to heal Biden's relationship with Netanyahu and to halt accusations that the US is emboldening Iran. For instance, Biden previously withheld a shipment of bombs before announcing that the planned weapons deal would go ahead.
Persons: , Joe Biden, Benjamin Netanyahu, Biden, Netanyahu, BRENDAN SMIALOWSKI, Matt Miller, Sen, Chris Van Hollen, Andrew Payne, Payne, Dave Harden Organizations: Service, CNN, Business, MSNBC, Gaza Health Ministry, IDF, Associated Press, State Department, Wall Street Journal, Getty, Washington Post, City University of London, Trump ., US Agency for International Development, West Bank, BBC Locations: Rafah, Israel, Gaza, Tal al, Anadolu, Iran
Washington CNN —Boeing is expected to release a plan this week to fix its endless string of safety issues that have been under federal investigation following a midflight fuselage blowout in January. Since then, the FAA and Boeing have met multiple times about the company’s progress and the plan’s scope. FAA Administrator Mike Whitaker said last week he sees the plan as only the “beginning” of a process for Boeing. Boeing later agreed to financial penalties and a deferred prosecution agreement to settle a criminal charge of defrauding US regulators. Its marching orders for the plan include addressing the audit and expert panel findings and explaining how it will integrate safety and quality assurance policies into practice.
Persons: Mike Whitaker, “ It’s, ” Whitaker, Max, Dave Calhoun, David Ryder, Whitaker, AeroSystems, Brian West, “ We’re, we’ll Organizations: Washington CNN, Boeing, Aviation Administration, FAA, ABC, Air Force, Alaska Airlines, Transportation Safety, Department of Justice, CNN, Employees, Locations: Portland , Oregon, Wichita , Kansas, Renton , Washington
The defense did not call Mr. Weisselberg either, nor did Mr. Trump take the stand in his own defense. And for weeks, Mr. Weisselberg’s absence has loomed large over Mr. Trump’s case, the first criminal trial of an American president. And when Mr. Trump was sworn in as president in 2017, he entrusted Mr. Weisselberg, along with Donald Trump Jr. and Eric Trump, with running his company. Mr. Trump, Mr. Cohen told the jury, “approved” of the arrangement and knew that they would falsify records to cover it up. Over the course of their decades together, Mr. Cohen knew, Mr. Trump and Mr. Weisselberg had become more or less symbiotic.
Persons: Donald J, Allen Weisselberg, Trump, Michael D, Cohen, Allen H, Weisselberg, Trump’s moneyman, Trump’s, lucre —, Eduardo Munoz, Stormy Daniels, Weisselberg’s, beholden, ” Emil Bove, Juan M, Justice Merchan, , Evan Vucci, Fred Trump, Donald Trump, Donald Trump Jr, Eric Trump, ” Mr, ” “, Mr, Jefferson Siegel, , Arthur F, Engoron, Justice Engoron, , ‘ Frick, Frack, Cohen’s, Daniels, Susan Hoffinger, Todd Blanche, Dave Sanders, Blanche, Kate Christobek Organizations: Prosecutors, New York Times, Trump, Mr, Reuters, Manhattan, Trump Organization, “ Trump, New, The New York Times, The Trump Organization, Credit, Frick Locations: Washington, New York, Trump, Manhattan, Brooklyn, Queens, York, tatters
And as of Wednesday, Josh Gibson will replace Cobb as the leading hitter in the official records of the game. Thorn estimated that about 75 percent of all Negro Leagues box scores have been documented, and that MLB would update the records as more are uncovered. To some extent, Negro League numbers will always be a work in progress. Barnstorming games, essential as a financial lifeline to Negro League teams, are not included in the statistics. The scheduled games range from 26 (Negro American League, 1942) to 91 (Negro National League I, 1927).
Persons: Abner Doubleday, Tyrus Raymond Cobb, Doubleday, Josh Gibson, Cobb, , Larry Lester, , Ty Cobb, Oscar Charleston, Rogers, Jud Wilson, Ed Delahanty, Buck Leonard, Ted Williams, John Thorn, Thorn, ” Lester, I’ve, Gibson, Chino Smith’s, Hugh Duffy’s, Chino Smith, Hugh Duffy, Charlie Blackwell, Ross Barnes, Willie Keeler, Rogers Hornsby, Tetelo Vargas, Vargas, — Lyman Bostock Sr, Bostock, Ted Williams ’, Sean Forman, Ty, Lester, Gary Ashwill, Kevin Johnson, Seamheads, ” Thorn, Elias, Babe Ruth, Lou Gehrig, Oscar, Barry Bonds, Jimmie Foxx, Ed Walsh, Addie Joss, Mordecai Brown, John Ward, Christy Mathewson, Rube Waddell, Walter Johnson, Dave Brown, Tommy Bond, White, Willie Mays, Mays, Bullet Rogan, Turkey Stearnes, ’ ” Lester, Simon Bruty Organizations: Major, Baseball, Negro Leagues, MLB, , Negro League, Negro, Rogers Hornsby, Turkey Stearnes, Louis Cardinals, San Francisco Giants, Kansas City Monarchs, American, National Leagues, Negro American League, Negro National League I, Boston, New York Cubans, Twins, Red Sox, Sports, Birmingham Black Barons, Graphics, Retrosheet, Oscar Charleston, Barry, Major League Baseball, Birmingham, Giants, Mets Locations: Turkey, Birmingham, Ala, Chicago, Moline, Washington ,
There was the satisfaction and appreciation of a team coming together to win the 1977 NBA title. The next day, before a Trail Blazers home game, Walton explained his emotions to a group of reporters. I regret the circumstances in which I left the Portland Trail Blazers’ family. “The Portland Trail Blazers deplore Bill Walton’s statement calling for the rejection of the United States Government. “And you are never the same again.”Related reading(Top photo of Bill Walton: NBA Photos / Getty Images)
Persons: Bill Walton, Walton, Adam Silver, Bill, Bill’s, Lori, Adam, Nate, Luke, Chris, , ” Walton, , Ted Kulongoski, it’s, Jack Ramsay, Hank Delespinasse, Robert Parrish, Ricky Pierce, Eddie Johnson, Larry Bird, Kevin McHale, Steve James, Bird, Walton . Bird, James, ” James, Dave Twardzik, Tom Shanahan, don’t, Jack, Micki Scott, Patty Hearst, Walton’s, Herman Sarkowsky, Larry Weinberg, Harry Glickman, Bill Walton’s, Arthur Ashe, Kareem Abdul, Jabbar, Bill Russell, Muhammad Ali …, White, Hal Bock, , Marty Glickman, , Bill Walton's, Sir Isaac Newton’s, Fabricio Roberto, you’ve, Taylor, ” “ John Stockton Organizations: Fame, NBA, UCLA, Portland Trail Blazers, Boston Celtics, Naismith Hall of Fame, Blazers, The Athletic, Trail Blazers, Celtics, NCAA, Memphis State, Florida State, Getty, Philadelphia, Portland, LA Clippers, Sixth, Walton, Athletic, Associated Press, Wilshire, FBI, Scotts, Symbionese Liberation Army, United, United States Government, National Basketball Association, “ Sports, The Associated Press, New York Knicks, Prime Ticket Network, NBC, ABC, CBS, FOX, ESPN, Turner Sports Locations: La Mesa, Calif, Portland, Oregon, , Blazermania, Los Angeles, Vietnam, United States, San Francisco, Walton, Utah, America
A top exchange-traded fund provider is betting on the long-term popularity of GLP-1 weight loss drugs. Roundhill Investments' GLP-1 & Weight Loss ETF (OZEM), which began trading last week, pairs leaders Eli Lilly and Novo Nordisk with players developing new treatments for weight loss and diabetes. Eli Lilly and Novo Nordisk each hold a roughly 20% weighting in the ETF, per Roundhill's website as of Friday. Mazza waived concerns that investors have missed out on the rally, noting the weight loss drug industry is still in its "early days." After last Tuesday's launch, shares of Roundhill's GLP-1 & Weight Loss ETF ended the week down by almost 2%.
Persons: Eli Lilly, Dave Mazza, Mazza, CNBC's Organizations: Investments, Novo Nordisk, Zealand Pharma, Amgen, Chugai Pharmaceutical Locations: Roundhill's
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CNN —Bruce Springsteen has postponed concerts in three European cities over the next two weeks due to vocal issues. The legendary rocker, 74, was due to perform with E Street Band in Marseille, Prague and Milan. He canceled two US shows in March and August over other health issues. He accepted the honor in a hoarse voice, which he attributed to an evening spent singing in the quintessentially British rain. “I’m gonna sound really weird up here because I sang in the rain all night last night,” he said in a speech.
Persons: CNN — Bruce Springsteen, Bruce, , , Springsteen, Ivor Novello, Paul McCartney Organizations: CNN, Ivor Locations: Marseille, Prague, Milan, U.S.A, Philadelphia, London
The quick and easy meal was among America's top 10 breakfast foods in 2019, according to a survey conducted by OnePoll in collaboration with Dave's Killer Bread. "I never recommend cereal to my patients to have for breakfast, simply because it's processed. I don't recommend anything that's processed," said Dr. Nancy Rahnama, an internist and clinical nutritionist. If you have only enough time to grab a bowl of cereal, reach for ones that are high in fiber and low in sugar, she advised. Here is a list of cereals that are high in nutrients like fiber and protein and low in added sugar, according to a recent report by Healthnews.com.
Persons: OnePoll, Nancy Rahnama, Rahnama, Healthnews.com Organizations: CNBC
Royce White, a Black former pro basketball player who led protests in Minneapolis after the murder of George Floyd, made his first appearance on “The Alex Jones Show” about two years ago. Jones, a purveyor of conspiracy theories about everything from 9/11 to the murder of children at Sandy Hook Elementary School, was thrilled by their conversation. “You’re awesome, you’re dead-on, and we’re going to learn a lot from you,” he enthused. to accommodate his generalized anxiety disorder, a public stand that won him journalistic admiration even as his athletic career faltered. “Royce White Towers Above the Minneapolis Protests, and Thousands Are Looking Up to Him,” said a Washington Post headline.
Persons: Royce White, George Floyd, Alex Jones, , Jones, White, Dave Zirin, Billie Jean King, Muhammad Ali, “ Royce, Donald Trump, ” White, Louis Farrakhan, Robert Malone ” —, Steve Bannon, Bannon, Trump’s, delighting, it’s, Tulsi Gabbard Organizations: Sandy Hook Elementary, Minneapolis Protests, Washington Post, CNN, Democratic, Trump Locations: Minneapolis, Israel
Paris Hilton first attended the Cannes amfAR Gala in 2001 while wearing a bold, bedazzled gown. Paris Hilton attends the 2001 amfAR Gala at the Cannes Film Festival. J. Vespa/Dave Hogan/Getty ImagesThe names written in crystals on her Randolph Duke dress were actually celebrity autographs from stars like Tom Cruise and Clint Eastwood, and the matching jewels on her arm spelled "amfAR." As for the gown itself, it was black and sleeveless with a round back cutout that extended to her sides.
Persons: Paris, Paris Hilton, Dave Hogan, Randolph Duke, Tom Cruise, Clint Eastwood Organizations: Paris Hilton, Cannes, Paris, Cannes Film
A month ago, West forecast Boeing would generate free cash flow "in the low single-digit billions." The company's aircraft deliveries in the first quarter fell to the lowest level since the pandemic. Other problems have also sprung up, including a pause on deliveries of 737 Max planes to China to review batteries for the cockpit voice recorder. Parts shortages have also slowed deliveries of 787 Dreamliners, Boeing has said. American Airlines last month said it would cut some international flights because of delays of the wide-body jets.
Persons: Brian West, West, Dave Calhoun, Max Organizations: American Airlines Boeing, Reagan National, FAA, Boeing, Wolfe Research, Federal Aviation Administration, Civil Aviation Administration, China, American Airlines, United Airlines, Southwest Airlines Locations: Los Angeles, United States, Washington , U.S, China
CNN —Longstanding abortion restrictions like waiting periods and provider regulations are now under legal attack in states where Roe v. Wade’s reversal prompted voters to amend their state constitutions to protect abortion rights. But the success abortion rights advocates have had in passing such measures in purple states and even Ohio – where Republicans have dominated recent elections – is notable. Anti-abortion activists say that abortion rights advocates are stretching the constitutional amendments beyond their meaning, suggesting that voters in other states should be wary. Abortion rights advocates say that the legal landscape differs state by state, so it’s difficult to predict the litigation that could come out of the proposed amendments if adopted. There are campaigns for initiatives to expand abortion rights in several other states, but only in a few states so far have abortion rights advocates cleared the required hurdles to guarantee the proposals will be on the ballot.
Persons: Roe, ’ pushback, Dobbs, ’ ”, Rabia Muqaddam, , Meagan Burrows, Katie Daniel, Susan B, Anthony Pro, Dana Nessel, Eric Restuccia, , ” Genevieve Marnon, Casey –, Dave Yost, ” Yost, Casey, Yost, Jessica Arons, “ We’re, ” Arons Organizations: CNN, ACLU, Jackson, Health, Center for Reproductive Rights, Republicans, Democrat, Democratic, Republican, “ Voters Locations: Ohio, Michigan, In Ohio, Michigan and Ohio, California, Florida , Arizona , Missouri, Dobbs, Roe, Arizona
The situation deteriorated in April after Synapse declared bankruptcy following the exodus of several key partners. That has left users of several fintech services stranded with no access to their funds, according to testimonials filed this week in a California bankruptcy court. One customer, a Maryland teacher named Chris Buckler, said in a May 21 filing that his funds at crypto app Juno were locked because of the Synapse bankruptcy. Synapse had contracts with 20 banks and 100 fintech companies, resulting in about 10 million end users, according to an April filing from founder and CEO Sankaet Pathak. The freeze-up of customer funds exposes the vulnerabilities in the banking as a service, or BAAS, partnership model and a possible blind spot for regulatory oversight.
Persons: Andreessen Horowitz, Chris Buckler, Buckler, Dave, Juno, Sankaet Pathak, Pathak, Joseph Dominguez, Dominguez, Jason Mikula, Mikula Organizations: Istock, Synapse, Evolve Bank & Trust, Mercury, CNBC, Evolve Bank, Trust, Regulators, FDIC, Federal Reserve Locations: California, Maryland, Joseph Dominguez of Sacramento , California, Silicon
Beauty posted its first billion-dollar fiscal year on Wednesday as sales spiked 77%, but the retailer's shares fell as it said it expects its growth to slow. Sales rose to $321.1 million, up about 71% from $187.4 million a year earlier. For the full year, the company's sales grew to $1.02 billion, an increase of 77% from the year-ago period. Its guidance reflects that sentiment, but even so, the company expects to grow at a slower pace than Wall Street anticipated. expects net sales to be between $1.23 billion and $1.25 billion, which would be an increase of 20% to 22%.
Persons: Tarang Amin, Dave Kimbell, Estée Lauder, Coty, Kimbell, JPMorgan Chase, Read Organizations: LSEG, Walmart, Target, Wall, JPMorgan Locations: E.l.f
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