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Charles Schwab plans job cuts and office downsizing amid efforts to reduce operating costs

Published Mon, 24 Feb 2025 16:04:51 GMT

NEW YORK (AP) — Charles Schwab plans to cut jobs and close or downsize some corporate offices as part of company efforts to reduce operating costs, the financial services firm said in a Monday regulatory filing.With these cuts, Charles Schwab expects to achieve at least $500 million of incremental annual run-rate cost savings — but also incur about $400 million to $500 million from expenses like employee compensation, benefits and facility exit costs.The Westlake, Texas-based company did not specify how many positions would be eliminated — but suggested that the layoffs will take place in the coming months, noting that it anticipated most costs related to these job cuts for the second half of 2023. Office locations set to be impacted by closures or downsizing were also not specified, but Charles Schwab said it expected to incur those real estate-related costs in 2023 and 2024.In Monday’s filing, the company pointed to previously-announced “incremental actions to streamline its...

Sphere Entertainment: Fiscal Q4 Earnings Snapshot

Published Mon, 24 Feb 2025 16:04:51 GMT

NEW YORK (AP) — NEW YORK (AP) — Sphere Entertainment Co. (SPHR) on Tuesday reported profit of $536.8 million in its fiscal fourth quarter.On a per-share basis, the New York-based company said it had profit of $15.24. Earnings, adjusted to account for discontinued operations, were $10.21 per share.The company posted revenue of $129.1 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $140 million.For the year, the company reported profit of $502.8 million, or $14.40 per share. Revenue was reported as $573.8 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPHR at https://www.zacks.com/ap/SPHRSource

Citi Trends: Fiscal Q2 Earnings Snapshot

Published Mon, 24 Feb 2025 16:04:51 GMT

SAVANNAH, Ga. (AP) — SAVANNAH, Ga. (AP) — Citi Trends Inc. (CTRN) on Tuesday reported a loss of $5 million in its fiscal second quarter.The Savannah, Georgia-based company said it had a loss of 61 cents per share. Losses, adjusted for one-time gains and costs, were 60 cents per share.The clothing and accessories company posted revenue of $173.6 million in the period._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CTRN at https://www.zacks.com/ap/CTRNSource

Coty: Fiscal Q4 Earnings Snapshot

Published Mon, 24 Feb 2025 16:04:51 GMT

NEW YORK (AP) — NEW YORK (AP) — Coty Inc. (COTY) on Tuesday reported fiscal fourth-quarter net income of $32.9 million.On a per-share basis, the New York-based company said it had profit of 3 cents. Earnings, adjusted for non-recurring gains, came to 1 cent per share.The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.The beauty products company posted revenue of $1.35 billion in the period, surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.32 billion.For the year, the company reported profit of $508.2 million, or 57 cents per share. Revenue was reported as $5.55 billion.Coty expects full-year earnings in the range of 44 cents to 47 cents per share._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COTY at https://www.zacks.com/ap/COTYSource

BJ’s: Fiscal Q2 Earnings Snapshot

Published Mon, 24 Feb 2025 16:04:51 GMT

MARLBOROUGH, Mass. (AP) — MARLBOROUGH, Mass. (AP) — BJ’s Wholesale Club Holdings Inc. (BJ) on Tuesday reported fiscal second-quarter earnings of $131.3 million.The Marlborough, Massachusetts-based company said it had profit of 97 cents per share.The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.The wholesale membership warehouse operator posted revenue of $4.96 billion in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $5.15 billion.BJ’s expects full-year earnings in the range of $3.80 to $3.92 per share.BJ’s shares have climbed slightly more than 5% since the beginning of the year. The stock has decreased 5.5% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BJ at https://www.zacks.c...

DIA fleet ranks 3rd in the country for sustainability

Published Mon, 24 Feb 2025 16:04:51 GMT

DENVER (KDVR) -- Even as one of the busiest airports in the world, Denver International Airport ranked third out of the 50 top airport fleets in the country for sustainability, according to the National Association of Fleet Administrators (NAFA) 2023 Green Fleet Awards. Top places to eat in DIA, ranked by Google In the last year, almost 70 million people passed through the DIA. In June alone, almost seven million passengers went through the airport. To accommodate a large amount of traffic, DIA uses over a thousand different vehicles from large snow removal vehicles to forklifts to smaller equipment such as concrete saws.Out of the vehicle fleet in the DIA, 26% of the fleet is powered by alternative fuels like natural gas. Its fleet management division provides natural gas testing services to about 300 vehicles operated by tenant airlines."DEN's fleet has a long history of prioritizing sustainability, dating back to the airport’s opening in 1995," Denver International Airport CEO...

Job seekers want record-high wages — and men expect $25,000 more than women do

Published Mon, 24 Feb 2025 16:04:51 GMT

Minneapolis (CNN) — When employers deliver a job offer, it had better come with some teeth: Americans’ wage expectations have hit record highs, according to a Federal Reserve Bank of New York survey released Monday.Job seekers’ average reservation wage — the lowest pay they’d be willing to take for a new job — climbed to $78,645 in July 2023, up nearly 8% from July of last year, according to the New York Fed’s latest survey on consumers’ labor market experiences and expectations.The higher wage expectations are a reflection of this current moment in the economy and the labor market, said Julia Pollak, chief economist for online job marketplace ZipRecruiter.“It largely explains what we’ve been seeing during this summer of strikes and unions pushing for higher wages; and, of course, wages follow inflation, and part of the reason that workers are expecting higher wages is because prices have risen 17.5% since the pandemic,” she said.Were it not for the post-pandemic inflation surge, pr...

GM’s Cruise to slash fleet of robotaxis by 50% in San Francisco after collisions

Published Mon, 24 Feb 2025 16:04:51 GMT

(CNN) — California authorities have asked General Motors to “immediately” take some of its Cruse robotaxis off the road after autonomous vehicles were involved in two collisions – including one with an active fire truck – last week in San Francisco.California’s Department of Motor Vehicles confirmed to CNN that it is investigating “recent concerning incidents involving Cruise vehicles in San Francisco.”“The DMV is in contact with Cruise and law enforcement officials to determine the facts and requested Cruise to immediately reduce its active fleet of operating vehicles by 50% until the investigation is complete and Cruise takes appropriate corrective actions to improve road safety,” the department said in a statement.That means Cruise, which is the self-driving subsidiary of General Motors, can have no more than 50 driverless cars in operation during the day, and 150 in operation at night, according to the department.The California DMV said that Cruise has agreed to the request, and...

Sketch and surveillance video released in assault and kidnapping case near Fort Lauderdale

Published Mon, 24 Feb 2025 16:04:51 GMT

NEAR FORT LAUDERDALE, Fla. (WSVN) — The Broward Sheriff’s Office Special Victims Unit released a sketch of an individual involved in a disturbing case of sexual assault and attempted kidnapping. Detectives have also released surveillance footage showing the suspect’s vehicle.The incident occurred around 3 a.m. on Saturday, August 12, in unincorporated Broward County near the 2900 block of West Sunrise Boulevard. According to the victim, an adult female, she was seated on a curb when an unfamiliar man driving a dark-colored pick-up truck pulled up and propositioned her with money for sexual favors. Rejecting the suspect, she began to walk away.Subsequently, the man exited his vehicle, forcibly grabbing the victim’s arm, and compelling her into the truck, according to authorities. Authorities said despite the victim’s struggle, the suspect managed to overpower her outside the vehicle and sexually assault her.The victim was able to break free from the susp...

United Airlines pilot charged in bizarre ax attack caught on video in Denver International Airport lot

Published Mon, 24 Feb 2025 16:04:51 GMT

DENVER (KCNC) — A United Airlines pilot has been charged in a bizarre ax attack earlier this month in which he savaged a parking arm at a Denver International Airport employee parking lot, causing an estimated $700 in damage. Police say the pilot, Kenneth Henderson Jones, told them “He just hit his breaking point.”Video of the incident on on Aug. 2 obtained by CBS News Colorado showed the 63-year-old pilot armed with a full-sized ax. In the video, he chops at the parking arm at the exit gate of an employee parking lot 23 times until he knocked the parking arm off its base. After that, Jones scuffles at length a few minutes later with an airport employee who saw what happened and tried to take the ax away from the pilot. The pilot only surrenders the ax after a second Denver International Airport employee intervenes and helps wrestle it away. Airport administrators described it as a “physical struggle” with no injuries.Adams County authorities have charg...