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Cranberry Journal

Friday, November 6, 2026

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At the close · Nov 6

Business

Top stories in Business

The front of a CVS Pharmacy store with a red heart logo on a white sign band, a red metal hipped roof with a small cupola, brick walls, a glass storefront, shrubs along the walk and a blue car in the parking lot under a blue sky. The Numbers

CVS Will Split Its 9,000 Drugstores From Aetna and Caremark. A Third of the Stores' Revenue Last Year Came From the Rest of CVS.

CVS Health said on Wednesday it intends to split into two listed companies, putting its roughly 9,000 pharmacies, mail pharmacy and MinuteClinic into a new CVS Pharmacy and keeping Aetna and Caremark together. It expects to finish in the first half of 2028. Nothing is final: the board still has to approve it and a registration statement has to take effect.

By Margaret Holloway  

More in Business

A white National Express coach with the slogan "if you know, you go" parked at a bus station in Derby, with a brick building and a white office block behind it.

National Express's Owner Agreed to a 46p-a-Share Takeover Worth £308 Million. The Buyer Is Taking On a Company Valued at £2.3 Billion, and Most of That Is Debt.

Mobico, the owner of National Express and Spain's ALSA, agreed on Friday 30 October to a cash takeover at 46 pence a share, valuing its equity at about £308 million. The bidder is a vehicle jointly owned by the Cosmen family, Mobico's largest shareholder, and the Madrid fund manager Asterion. Shareholders and a court still have to approve it.

By Margaret Holloway  

The cream-coloured frontage of a Cheesecake Factory restaurant with red lettering and white awnings, behind palm trees, hedges and a flowering bougainvillea, below a white apartment building.

The Cheesecake Factory Served 9.5 Per Cent More Guests Last Quarter. At Chipotle, Transactions Rose 0.8 Per Cent.

Comparable sales at The Cheesecake Factory's namesake restaurants rose 15.2 per cent in the third quarter, with traffic up 9.5 per cent, the company said on 27 October. A day later Chipotle reported comparable sales up 2.1 per cent, with transactions up 0.8 per cent. Cheesecake Factory's management says it is too early to tell how lasting its new, younger guests will be.

By Margaret Holloway  

Looking straight up the white vertical piers and dark window bands of a tall Manhattan office tower, framed by tree branches against a pale sky.

Weil Gotshal Brought In About $2.1 Billion Last Year. Its Leaders Now Recommend Closing the 95-Year-Old Firm.

The management committee of Weil, Gotshal & Manges, the New York law firm with about 1,200 lawyers, has recommended an orderly wind-down, the firm said on Wednesday. It follows a run of partner departures and merger talks with Willkie Farr & Gallagher that ended without a deal. The firm says it will keep serving clients while the plan goes to its partners.

By Margaret Holloway  

A white cruise ship with Odyssey and Villa Vie Residences painted on its side lies at anchor beside a small orange tender, with green hills behind.

The "Endless" Cruise Ship Paid $700 a Ton for Fuel Before the Iran War. It Stopped Sailing After Paying $2,000 to $3,000.

Villa Vie Residences suspended its residential cruise ship, the Odyssey, in Sihanoukville, Cambodia, on Tuesday, and told residents to leave within hours. Its executive chairman blamed fuel that cost $700 a ton before the Iran war and $2,000 to $3,000 since. He told CBS News the plan is to file for Chapter 11; no filing has been reported.

By Thomas Gutierrez  

A small wind turbine on a guyed pole stands among olive-green Army tents, with a ground-level solar panel, a power unit, orange traffic cones and a steel lattice tower under a blue sky.

The Pentagon Wants Its Major Bases Able to Run 90 Days on Their Own. Britain Is Asking Households to Manage for Three.

Internal Pentagon documents reviewed by Fox News Digital would require every major U.S. military installation to run essential operations on its own for at least 90 days, backed by reserves of munitions, fuel, minerals, spare parts and medical supplies. The plan, called FORTRESS, has no published cost or timeline. Nothing in the reporting mentions artificial intelligence or a specific nuclear threat.

By Alison Acosta  

A Wendy's restaurant with a stone and stucco exterior, red patio umbrellas and a single grey car parked in front, under a clear blue sky.

Trian Has Offered $7.35 a Share to Take Wendy's Private, About $1.4 Billion. That Is Roughly Half the $2.7 Billion of Debt the Bidders Would Keep.

Nelson Peltz's Trian Fund Management and Flynn Group, one of the largest Wendy's franchisees, proposed on 28 October to buy the shares of The Wendy's Company they do not own for $7.35 each in cash, about 20 per cent above Tuesday's close. On the 194.0 million fully diluted shares the letter assumes, that is about $1.4 billion. The proposal is non-binding and nothing has been signed.

By Daniel Okafor  

A Boeing 737 MAX test aircraft in Boeing's blue and white livery, registration N8701Q, parked on an apron with work stands and stairs beside it, with hangars, hills and a blue sky behind.

Boeing Delivered 161 Airliners Last Quarter and Lost About $4.3 Million on Each. Its 6,300-Jet Backlog Would Take About a Decade to Build at This Year's Pace.

Boeing said on 27 October that third-quarter revenue rose 4 per cent to $24.2 billion and its net loss narrowed to $116 million, from $5.3 billion a year earlier. Its commercial airplanes unit lost $697 million on 161 deliveries. Total backlog reached a record $745 billion, including more than 6,300 commercial jets.

By Daniel Okafor  

A UPS Boeing 767-300F freighter in brown and white livery, with 'Worldwide Services' on its fuselage and the UPS shield on its tail, flying with landing gear down against a clear blue sky.

UPS Raised Its Revenue Forecast by $1.4 Billion and Its Profit Forecast by $100 Million. The Fourth Quarter Now Has to Earn 37 Per Cent of the Year's Profit.

UPS said on 27 October that third-quarter revenue rose 6.7 per cent to $22.9 billion while adjusted earnings fell to $1.69 a share from $1.74. It raised its 2026 revenue outlook to about $92.6 billion, from $91.2 billion, and its adjusted operating profit target to about $8.75 billion, from $8.65 billion. U.S. parcel volume fell 3.3 per cent.

By Daniel Okafor  

A single-storey brick store with a dark fascia bearing the white Verizon logo and red check mark, a row of glass windows with an Open sign, and a mown lawn in front, beside a large green tree.

Verizon Added 406,000 Phone Subscribers in the Third Quarter, Up From 44,000 a Year Ago. It Says It Spent 41 Per Cent Less on Promotions to Win Them.

Verizon said on 26 October that it added 406,000 postpaid phone subscribers in the third quarter, against 44,000 a year earlier, and raised its 2026 forecast to 1.1 million to 1.2 million. Revenue rose 1.5 per cent to $34.3 billion as equipment sales fell 9 per cent. Adjusted earnings rose 8.3 per cent to $1.31 a share.

By Thomas Gutierrez  

A tall drilling rig with a red-and-white mast stands on a levelled gravel pad at the foot of a wooded hill in autumn colours, seen across a field of ripe brown soybeans under a clear blue sky.

EQT Is Paying a 21 Per Cent Premium for Range Resources, in Stock. By Our Arithmetic, the Premium Equals Almost Seven Years of the Promised Savings.

EQT agreed on 25 October to buy Range Resources in an all-stock deal, giving 0.987 EQT shares for each Range share. Range holders would own about 27 per cent of the combined natural gas producer, which the companies value at more than $50 billion including debt. Both sets of shareholders must vote, and the deal is not expected to close before the first quarter of 2027.

By Daniel Okafor  

Looking up at a tall pale-stone office tower with a grid of deep-set windows, rising behind a lower wing of the same building against a blue sky with white clouds.

Omnicom's Organic Growth Reached 7.2 Per Cent in Its Third Quarter With Interpublic. It Has Spent $3.2 Billion on Buybacks This Year, $857 Million More Than Its Free Cash Flow.

Omnicom said on 22 October that third-quarter revenue rose 59 per cent to $6.42 billion, mostly because it now owns Interpublic, and that its continuing businesses grew 7.2 per cent organically. Adjusted earnings per share rose 22 per cent to $2.73. The company repeated that it is on track for $900 million of cost savings from the merger this year.

By Daniel Okafor  

A grey single-storey warehouse with blue LKQ and Euro Car Parts signs above a loading door, white vans parked along its side and two cars in the forecourt.

LKQ Replaced Its Chief Executive as Its European Margin Fell to as Little as 4.1 Per Cent. His Successor Gets $15.3 Million to Sign On.

LKQ, the auto-parts distributor, said on 23 October that Justin Jude has left as chief executive and that Salvatore Abbate, former head of Veritiv, will succeed him on 15 December. It withdrew its 2026 guidance and said preliminary third-quarter adjusted earnings fell to $0.47 to $0.53 a share from $0.84, with Europe's margin roughly halved. Full results are due on 29 October.

By Margaret Holloway  

The entrance to an American Express Centurion Lounge, with open navy-blue double doors beside a pale mosaic wall bearing the company's centurion-head emblem and the words The Centurion.

American Express Raised Its Forecast After Earning $5.42 a Share. Its Cards Now Carry an Average Fee of $136 a Year, 14 Per Cent More Than a Year Ago.

American Express said on 23 October that third-quarter revenue rose 9 per cent to $20.1 billion and earnings per share rose 31 per cent to $5.42, or 13 per cent to $4.68 excluding a travel-stake gain and a restructuring charge. It raised its full-year earnings forecast to $18.30 to $18.60 a share. Net card fees rose 16 per cent, faster than spending.

By Daniel Okafor  

The twin limestone towers of Procter & Gamble's headquarters in Cincinnati behind a row of flagpoles and a paved plaza, under a deep blue sky.

P&G Raised Prices Just 0.4 Per Cent and Sold 2.4 Per Cent More Volume. It Expects a $1.4 Billion Commodity Hit, Most of It Still to Come.

Procter & Gamble said on 22 October that first-quarter organic sales rose 4.0 per cent, with volume up 2.4 per cent and pricing up only 0.4 per cent. It kept its full-year guidance but expects a $1.4 billion after-tax commodity headwind, assuming Brent crude at $100 a barrel, and says most of it has not yet reached its accounts.

By Daniel Okafor  

An American Airlines Boeing 737-800 in silver livery with a striped red, white and blue tail, landing gear down, on approach against a clear blue sky.

American Airlines Made $115 Million Flying Passengers Last Quarter and Paid $435 Million in Interest. Fuel Will Cost It More Than $7 Billion Extra This Year.

American Airlines reported on 22 October that third-quarter revenue rose 19.3 per cent to a record $16.3 billion and that it still earned an operating profit of $115 million despite a $1.9 billion rise in fuel costs. Net interest expense of $435 million turned that into a net loss of $269 million. It now expects an adjusted loss of $1.00 to $1.60 a share for 2026.

By Daniel Okafor  

Two black-and-tan Dobermans lie side by side in a down-stay on a hillside road, wearing training collars, with rocky hills behind them.

The Richest Fifth of U.S. Households Spends $1,861 a Year on Its Pets. Cinnante Canine Is Building a Business Around Them.

Americans spent $158 billion on pets in 2025, according to the American Pet Products Association, and services were the fastest-growing category. Cinnante Canine, a Los Angeles-area training company led by Joseph Cinnante, who has trained and supplied dogs for military and police K9 units, is building its business around owners at the top of that market, from founder-led board-and-train programs to full-service care for very high-net-worth clients.

By Margaret Holloway  

A yellow and grey Union Pacific diesel locomotive pulling a train of double-stacked shipping containers along a snowy track under a blue sky.

Union Pacific's Revenue Rose 15 Per Cent, and 6 Per Cent Without Fuel Surcharges. At CSX, Surcharges Supplied More Than Half of a $430 Million Gain.

Union Pacific said on Thursday 22 October that third-quarter operating revenue rose 15 per cent to $7.2 billion, while freight revenue excluding fuel surcharges rose 6 per cent. CSX reported record revenue of $4.02 billion on Wednesday, up 12 per cent, with fuel surcharge revenue of $466 million against $234 million a year earlier. Both railroads paid more than $4.20 a gallon for locomotive fuel.

By Daniel Okafor