Target on Tuesday reported higher holiday-quarter earnings on a smaller-than-expected sales decline and predicted that annual comparable sales would come in largely above Wall Street expectations, sending its shares up as much as 11% in premarket trading. The mass merchandiser is banking on same-day services, product launches and a new membership program to boost spending at its stores.Target reported adjusted earnings of $2.98 per share in the fourth quarter, compared to $1.89 per share in the same period ...

The Federal Aviation Administration (FAA) on Monday said its production audit of Boeing 737 Max manufacturing processes and its supplier Spirit AeroSystems found multiple cases in which the companies allegedly failed to comply with manufacturing quality control requirements. FAA investigators found "non-compliance issues in Boeing's manufacturing process control, parts handling and storage, and product control." The agency said it provided a summary of these findings as an update to the public amid its inve ...

Ford Motor announced Monday that the company's U.S. sales jumped 10.5% in February with strong sales growth among electric vehicles (EVs) and hybrid vehicles. Sales of Ford's hybrid vehicles increased 36.7% year-to-date through February, with sales in February up 31.5% compared to a year ago with 12,045 vehicles sold."Hybrid vehicles continue to be a growth segment for Ford and sales have grown at a faster rate than the overall U.S. industry for much of the last year," Ford said of the news. EV sales at For ...

European regulators hit Apple with a nearly $2 billion antitrust fine on Monday for "abusive" App Store rules related to music streaming providers. The European Commission said it found that Apple banned music streaming app developers from fully informing iOS users about alternate and cheaper music subscription services."For a decade, Apple abused its dominant position in the market for the distribution of music streaming apps through the App Store," EU antitrust chief Margrethe Vestager said in a statement ...

Elon Musk's Tesla on Friday raised prices on certain Model Y vehicles sold in the U.S. market by $1,000, according to the company's website. The electric vehicle maker raised the price of its Model Y rear-wheel drive and long-range vehicles to $43,990 and $48,990, respectively. Prices of the Model Y Performance variant and other models of the car remained unchanged as of Friday, according to the website.In February, Tesla temporarily cut prices of some of its Model Y cars in the U.S. until Feb. 29, nearly a ...

General Motors is recalling about 820,000 pickups in North America because tailgates could unlatch and open unexpectedly. The recall covers certain 2020-2024 model year Chevrolet Silverado 2500, 3500, and GMC Sierra 2500 and 3500 vehicles that have power unlatching tailgates. The recall covers about 570,000 trucks in the U.S. and 250,000 in Canada – making it GM's largest U.S. recall of the year and one of the largest recalls filed in 2024 to date.The issue arises when the affected pickup trucks are parked ...

The lawyers who voided Elon Musk's $56 billion Tesla compensation package as being excessive are seeking a record $6 billion legal fee payable in the company's stock. "We recognize that the requested fee is unprecedented in terms of absolute size," the three law firms said in a filing with the Delaware Court of Chancery. The law firms said the fee works out to an hourly rate of $288,888 for representing Tesla shareholder Richard Tornetta in the lawsuit to rescind the massive compensation package.The lawyers ...

Netflix binge-watching could soon get even pricier. It could happen if the streaming giant decides to hike how much it charges for its memberships again and, according to UBS telecom and cable analyst John Hodulik, that may very well be in the cards this year.UBS "expect[s] to see rate increases this year" that will drive average revenue per membership up by 5% with help from "scaling ad revenues," he said in a recent research note. FOX Business reached out to the company for comment. Netflix currently has ...

Hackers that allegedly caused the UnitedHealth Group cyberattack reportedly posted on the dark web that they stole personal data and the records of "millions" of patients. In a now-deleted post, the Blackcat ransomware group – also known as ALPHV or Noberus – said it stole several terabytes of data from UnitedHealth, which includes medical insurance and health data, Reuters reported, citing screenshots of the post.The group has been behind several other ransomware attacks.  PHARMACIES SCRAMBLE TO SERVE SICK ...

Citigroup is cutting nearly 300 workers in New York as it continues its massive layoff spree in an effort to reign in expenses, according to filings with the State Labor Department.   About 239 workers in the primary banking subsidiary, 44 from its broker-dealer unit and three from its technology arm are getting cut, according to Worker Adjustment and Retraining Notification (WARN) notices filed this week.  In early January, the company announced that it was cutting 20,000 roles "over the medium-term," as p ...