The team of lawyers who sued to void Tesla CEO Elon Musk's $56 billion pay package have requested $6 billion in legal fees for their work, but their request may run afoul of a new court ruling that discourages judges from awarding "windfalls" in legal fees. Chancellor Kathaleen McCormick of the Delaware Court of Chancery is currently weighing the legal team's $6 billion fee request as well as whether Tesla shareholders' vote to reinstate Musk's pay package, which McCormick voided in January, was sufficient ...

Dollar General stock plunged 27% on Thursday after the company released second quarter financial results that showed softening consumer demand and prompted a cut to its annual sales and profit forecast. The company's operating profit decreased by 20.6% to $550 million, while its diluted earnings per share fell 20.2% to $1.70. Its net sales for the quarter were $10.21 billion, shy of analysts' average estimate of $10.37 billion, according to LSEG data.The discount store operator and rival Dollar Tree have be ...

Artificial intelligence giant Nvidia released its latest second quarter earnings report on Wednesday, which beat analysts' estimates as the company's AI-driven momentum continued. Wall Street expected Nvidia's earnings per share to come in at $0.64, up 137.5% from last year, while its revenue was estimated to be $28.7 billion, up 112.5% from last year, according to LSEG data. Its earnings per share came in at $0.68, while revenue was $30.04 billion.Nvidia's data center revenue, its largest operating segment ...

Eli Lilly is expanding the supply of its weight-loss drug and selling it for half the price of other drugs in the highly lucrative market.  Eli Lilly announced on Tuesday that it is now offering 2.5 mg and 5 mg single-dose vials of tirzepatide, sold under the brand name Zepbound, in response to growing demand. In its last fiscal quarter, the company's earnings surpassed Wall Street expectations due in large part because of the performance of Mounjaro and Zepbound, which have the same active ingredient but h ...

An Alaska Airlines flight bound for Oakland, California, from Seattle had to turn around Sunday afternoon following an engine issue, according to reports.  Alaska Airlines Flight 1240, operated on a Boeing 737-700 according to flight tracking website FlightAware, took off from Seattle-Tacoma International Airport at 12:24 Pacific Daylight Time. In just over an hour, it returned.A statement from Alaska Airlines to several media outlets said the turnaround was due to the engine on the plane's left wing shutti ...

The Federal Trade Commission (FTC) on Monday kicked off a trial amid its push to block Kroger's $25 billion merger with Albertsons by alleging the deal would undermine competition in the grocery store industry and hurt consumers. Kroger and Albertsons first announced the proposed merger in September 2023 and the companies have agreed to sell nearly 600 locations to C&S Wholesale Grocers to help the deal pass regulatory muster. Kroger has also committed to lower grocery prices by $1 billion after the deal, w ...

Nvidia is likely to report on Wednesday that its second-quarter revenue more than doubled. But investors used to its blockbuster results will be expecting even more from the artificial intelligence chip giant. A beat or a miss on Wall Street expectations could either stoke or shatter an AI rally on Thursday, a day after Nvidia reports earnings for the May-July period.The company's stock has surged more than 150% this year, adding $1.82 trillion to its market value and lifting the S&P 500 to new highs. On Mo ...

Another one of Boeing's popular planes, the 787 Dreamliner, is being investigated by the Federal Aviation Administration (FAA) after one aircraft rapidly descended when the captain's seat spontaneously moved forward and impacted the controls. Since the LATAM Airlines incident in March that injured at least 50 people, the FAA said it has received four additional reports from Boeing of "uncommanded horizontal movement of the captain’s and first officer’s seats," with the most recent occurring in June 2024, ac ...

Group 1 - Eli Lilly's weight-loss drug, tirzepatide, significantly reduces the risk of developing type 2 diabetes by 94% in overweight patients with pre-diabetes compared to a placebo [1][2] - The treatment leads to sustained weight loss, with patients on the highest dose experiencing an average body weight decrease of 22.9% [1] - The study involved 1,032 adults over a three-year period [1] Group 2 - Obesity affects nearly 900 million adults globally, increasing the risk of complications like type 2 diabetes [2] - Eli Lilly's second-quarter earnings exceeded Wall Street expectations, with $11.3 billion in global revenue compared to the expected $9.92 billion [3] - Adjusted earnings per share were reported at $3.92, surpassing the anticipated $2.60 [3] Group 3 - Tirzepatide was first approved for type 2 diabetes treatment under the brand name Mounjaro in 2022 [4] - In November 2023, the injection was approved for adults with obesity or those with weight-related medical issues, marketed as Zepbound [4]

Home Depot’s former CEO is calling for the government to tell the truth, as Federal Reserve governors are warning about U.S. jobs data being inflated. During an appearance on "The Evening Edit," Monday, Bob Nardelli suggested that the country’s jobs data is "woefully overstated," arguing that it's "about time" the government "got honest." "You and I watch this very closely every month," Nardelli told host Elizabeth MacDonald in response to Federal Reserve Governors Michelle Bowman and Lisa Cook warning that ...