Victoria’s Secret has struggled to keep pace with shifting consumer tastes. Five years ago, Victoria’s Secret produced nearly two-thirds of the revenue for its parent company, which was then worth $28 billion. This week, Victoria’s Secret was taken private in a deal that values the brand at just $1.1 billion. L Brands, Victoria’s Secret’s parent…… MORE
Twitter’s decision to not accept ads from politicians — even though the social media platform is used frequently by President Donald Trump and the Democratic presidential contenders — appears to be paying dividends. Shares of Twitter are up nearly 20% so far in 2020. That’s well ahead of the gains of social media rivals Facebook…… MORE
The Dow and the broader stock market dropped Friday as investors continued to struggle with pricing in the potential fallout from the coronavirus outbreak. Stocks opened lower but sold off sharply in the first hour of trading. The Dow fell as much as 327 points at its low, but has since regained some of those…… MORE
Sprint may soon be a dead brand now that its blockbuster merger with T-Mobile is set to close in April. But there’s good news for long-suffering Sprint investors: Its shares hovered around the $10 level Friday for the first time since January 2014. Sprint’s stock surged 6% and moved back into double digit territory after…… MORE
The worst may be over for farmers in the United States. Deere on Friday reported earnings for its fiscal first quarter that easily topped Wall Street’s forecasts, and revenue fell by less than analysts had expected. The tractor maker and bellwether for agriculture said the “US farm sector shows early signs of stabilization.” Net income…… MORE
Richard Branson is sailing into new waters with the launch of his first cruise liner, making a bold pitch to younger travelers at an undeniably awkward time for the industry. The Virgin founder launched the Scarlet Lady on Friday, hoping its modern design and adults-only rule will prompt younger vacationers to take a fresh look…… MORE
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. Since the financial crisis, Wall Street banks haven’t been too keen on massive acquisitions. That changed this week. Morgan Stanley’s $13 billion purchase of online broker E*Trade, announced Thursday, is a huge…… MORE
Zillow has long been known as the place to go when you’re looking to buy a new home. It’s famous for its Zestimate, which uses proprietary algorithms to estimate the current price of your house (or your neighbor’s, if you’re feeling nosy). But Zillow decided to shake things up. In April 2018, the company announced…… MORE
A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for it here. In 256 days, Americans will head to the polls to vote on whether to re-elect Donald Trump as President or to go in another direction. A lot will happen between now and then. But one thing…… MORE
The global airline industry is facing huge financial losses and its first decline in more than a decade because of the novel coronavirus outbreak. The International Air Transport Authority (IATA) warned on Thursday that the virus’ impact on demand could cost airlines more than $29 billion, with Asian carriers bearing the brunt of the losses.…… MORE
