Connor Hughes

In an unprecedented move, the National Football League is set to vote on a proposal that would allow it to claim a share of profits from private equity investments. The proposal is key to a critical upcoming vote that could reshape the league’s financial foundation. The move, aimed at harnessing the potential for high returns from private equity investments, aims to ensure a sustainable revenue stream for the NFL while improving financial stability among its teams. With significant funds at stake, the outcome of this vote could usher in a new financial era in sports management, where leagues take a…

Target CEO Brian Cornell firmly rejected accusations of price gouging in the hypercompetitive retail industry during an interview Wednesday on CNBC's "Squawk Box." During the discussion, Cornell was confronted with remarks from Democratic presidential candidate Vice President Kamala Harris, who recently supported a federal ban on "corporate price gouging" in the food and grocery industry. Harris cited concerns about companies overcharging consumers and contributing to higher household costs. In response, Cornell pointed to the slim profit margins typical of retail, saying, “We operate on a shoestring profit.” He also highlighted the many options consumers have for finding competitive prices, from…

As the Federal Reserve’s September interest rate decision approaches, dividend stocks are increasingly attracting investors’ attention. Paul Baiocchi of SS&C ALPS Advisors endorses this approach, predicting a potential rate cut by the Fed. “With the expectation of falling interest rates, investors are shifting their attention to dividend-yielding stocks rather than traditional money markets or fixed income securities. This is particularly beneficial for leveraged companies,” said Baiocchi, the ETF’s chief strategist. SS&C ALPS Advisors manages several dividend-focused exchange-traded funds, including the ALPS O'Shares US Quality Dividend ETF (OUSA) and the ALPS O'Shares US Small-Cap Quality Dividend ETF (OUSM). Compared to the…

Explore noteworthy changes in the stock market after the close of trading: Cava Group — The fast-casual restaurant chain saw its stock price rise nearly 6% after hours as its earnings beat projections. Cava’s earnings came in at 17 cents a share, beating LSEG forecasts by 4 cents, with revenue also beating expectations. Uber — Shares of the ride-sharing giant fell about 3% after announcing a long-term partnership with General Motors’ Cruise for autonomous vehicle services. The partnership aims to introduce driverless ride options to Uber’s service offerings by next year. Meanwhile, General Motors enjoyed a slight boost, with its…

Edgar Bronfman Jr. has made a major offer to acquire a major stake in Global Paramount, potentially ensuring that Shari Redstone remains a key figure within the organization. A source familiar with the negotiations said Bronfman's offer includes a clause that Redstone, who currently serves as Paramount's non-executive chairman, will continue his involvement with the company. This condition is contingent on his offer being accepted by Paramount's special committee by National Amusements, the major shareholder. Bronfman reportedly secured $6 billion to outbid Skydance Media for control of National Amusements, a company originally founded by Sumner Redstone. Both Bronfman and Skydance's…

At a Ford dealership in Glendale, California, the Mustang Mach-E takes center stage as part of Ford’s significant strategic shift. From Detroit, the narrative is changing for Ford Motor Company. Traditionally dominated by sales of large trucks and SUVs, the company is now moving toward smaller, more affordable electric vehicles (EVs). Marin Gjaja, Ford’s chief operating officer for Model and EV, describes the shift as a strategic safeguard. The plan aims to increase the presence of hybrid models and introduce affordable EVs, charting a course for a more capital-efficient and profitable future in the EV industry. Gjaja expressed confidence in…