Raphael Stevens

The 2025 Chevy Corvette ZR1 will be powered by a twin-turbocharged, 5.5-liter, V8 engine capable of more than 1,000 horsepower — a first for Corvette — and 828 foot-pounds of torque.
The ZR1 joins what GM is calling the “Corvette family,” leveraging the reputation of the quintessential American sports car to boost revenue and sales.
GM previously confirmed an all-electric Corvette is coming, but it hasn’t given a timeframe.
A Corvette SUV also has been under consideration for several years.

2025 Chevrolet Corvette ZR1 Coupe with ZTK Performance Package.

DETROIT — General Motors’ newest Chevrolet Corvette will be the most powerful version of the American sports car ever produced — and it’s not even close.
The Detroit automaker said Thursday the 2025 Chevy Corvette ZR1 will be powered by a twin-turbocharged, 5.5-liter, V8 engine capable of more than 1,000 horsepower — a first for Corvette — and 828 foot-pounds of torque, placing it among the ranks of supercars that can cost hundreds of thousands of dollars.

“This thing pulls like a freight train,” Tadge Juechter, Corvette’s executive chief engineer since 2006, said during a media event. “We expect this car to be essentially the fastest car we’ve ever built by a long measure.”
The prior most-powerful Corvette was GM’s last ZR1 for the 2019 model year. It produced 755 horsepower and 715 foot-pounds of torque with a 6.2-liter, V8 supercharged engine.

2025 Chevrolet Corvette ZR1 Coupe with ZTK Performance Package.

Juechter said the new ZR1 will “comfortably” have a top speed higher than the Corvette’s previous top speed of 212 mph.
GM said pricing for the 2025 Corvette ZR1, including an additional “ZTK” performance package, will be released closer to when the vehicle goes into production next year. The 2019 Corvette ZR1 started at $121,000.
The ZR1 joins what GM is calling the “Corvette family,” including the “everyman’s sports car” Corvette Stingray, which starts at about $70,000; the hybrid E-Ray; and the roughly $112,000 Z06 track car.

“We’re happy with the way it’s going. This is the next step in that whole approach,” said Brad Franz, director of Chevy car and crossover marketing.
GM previously confirmed an all-electric Corvette is coming, but it has not given a timeframe. A Corvette SUV also has been under consideration for several years. Franz declined to comment on either vehicle.

2025 Chevrolet Corvette ZR1 Coupe with ZTK Performance Package (left) and 2025 Chevrolet ZR1.

Wall Street analysts have said GM could better leverage the Corvette brand by expanding models and, to an extent, sales. In late 2019, Morgan Stanley analyst Adam Jonas said a Corvette sub-brand could be worth between $7 billion and $12 billion.
Sales of the Chevrolet Corvette have totaled roughly 34,500 vehicles for each of the past two years. In 2019, the automaker redefined the iconic sports car, swapping its front-engine design for a mid-engine build to increase performance and handling.
Models such as the ZR1 are low-volume vehicles designed to attract buzz to the brand and entice drivers toward less-expensive Corvettes.
“The ZR1 is the range-topper. It’s the halo vehicle. It’ll bring tons of attention to the car and actually help sell the other models,” Juechter said. “It’s part of the ongoing business strategy to keep the product relevant over a relatively long lifecycle.”

2025 Chevrolet Corvette ZR1

Other performance models have helped to lift Corvette’s average transaction price to roughly $106,000.
Franz said price point is expected to continue to rise with the introduction of ZR1 and sales growth of the track-focused Z06, whose average buyer has a household income of $311,000.
Additional sales of the hybrid Corvette, which starts at about $105,000, also should help boost Corvette’s revenue. GM plans to increase production of the E-Ray to 10% of total production capacity from current levels at 2% to 3% currently, Franz said.
The performance trickle-down effect also has assisted in keeping the sole plant that produces Corvette in Bowling Green, Kentucky, on two shifts since 2019.

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Boeing’s crew spacecraft Starliner will stay docked with the International Space Station into August, NASA confirmed on Thursday.
Starliner capsule “Calypso” has now been in space 50 days and counting.
NASA needs to complete a review tentatively planned for the first week of August before setting Starliner’s return date.

Boeing’s Starliner spacecraft is pictured docked to the International Space Station.

Boeing’s crew spacecraft Starliner will stay docked with the International Space Station into August, NASA confirmed on Thursday, as the mission remains on hold while the company and agency study problems that arose early in the flight.
Starliner capsule “Calypso,” which carried NASA astronauts Butch Wilmore and Suni Williams to the ISS, has now been in space 50 days and counting. The Boeing crew flight test has been extended several times while NASA conducted testing back on the ground prior to clearing the spacecraft to carry the pair of astronauts back to Earth.

NASA’s Commercial Crew manager Steve Stich said during a press conference Thursday that the agency was not prepared to set a return date.
“We’re making great progress, but we’re just not quite ready to do that,” Stich said.
NASA needs to conduct a review that won’t happen until the first week of August, Stich said, and only after that review will the agency schedule Starliner’s return.
The indefinite extension of Starliner’s flight test is difficult to put into context of other human spaceflights due to the unique circumstances and developmental nature of the mission. Any crewed spaceflight comes with heightened risk and scrutiny. Originally, Calypso was expected to spend a minimum of nine days in space before returning.
“I think we all knew that it was going to go longer than that. We didn’t spend a lot of time talking about how much longer, but I think it’s my regret that we we didn’t just say we’re going to stay up there until we get everything done that we want to go to do,” Boeing’s Mark Nappi, vice president of the Starliner program, said on Thursday.

Both NASA and Boeing leadership have repeatedly stressed that Wilmore and Williams “are not stranded in space.” Officials previously said that Starliner is safe to return in the event of an emergency and that the pair of astronauts are enjoying the extra time on the ISS and assisting the rest of the station’s crew with tasks in the meantime.

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Boeing and NASA earlier this month began testing the spacecraft’s malfunctioning propulsion system back on the ground in White Sands, New Mexico.
Stich and Nappi outlined the next steps that must be completed before making the call on when to bring back Starliner.
Boeing on Thursday is finishing dissection of the thruster that was tested in New Mexico. On Thursday afternoon, NASA and Boeing will hold a mission management meeting to plan the docked test firings that are expected to happen on Saturday or Sunday. Then, on Monday or Tuesday, the teams will do “an integrated assessment of all the data” from the docked tests, Stich said, before “some significant education of [NASA] leadership” ahead the final big review, also known as “Agency Flight Test Readiness Review.”
Stich also acknowledged again that NASA has contingency plans in case the agency determines that Starliner should return without Wilmore and Williams — alternatives that include using SpaceX’s Dragon capsule to bring back NASA’s astronauts.
“NASA always has contingency options. We know a little bit of what those are, and we haven’t worked on them a whole bunch, but we kind of know what those are,” Stich said. “Right now we’re really focused on bringing Butch and Suni home on Starliner.”

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Ford is leading a decline in major U.S. automotive stocks after missing Wall Street’s bottom-line earnings for the second quarter.
Shares of Ford closed Thursday at $11.16, down by 18.4% — marking the stock’s worst daily decline since 2008 and the second-worst performer of S&P 500 companies.
Shares of both General Motors and Stellantis were notably off as well after the companies reported their results this week.

A Ford Bronco on display at the New York International Auto Show on March 28, 2024. 
Danielle DeVries | CNBC

DETROIT — Ford Motor is leading a decline in major U.S. automotive stocks this week amid disappointing results and investor skepticism around future performance.
Shares of Ford closed Thursday at $11.16, down by 18.4% — marking the stock’s worst daily decline since 2008 and the second-worst performer of S&P 500 companies — after the company missed Wall Street’s bottom-line earnings expectations due to warranty problems, a recurring issue with the company.

Shares of General Motors and Stellantis were notably off as well after the companies reported their results this week. Shares of Tesla, which reported results Tuesday afternoon, increased 2% Thursday after their largest daily decline since 2020 on Wednesday.
The traditional “Detroit” automakers — Ford, GM and Stellantis — were punished partially due to industrywide uncertainty, but more so in response to individual issues.
GM closed Thursday at $44.13, down 5%. It’s off 8.6% this week. The company outperformed Wall Street’s expectations for the second quarter and increased its guidance for the year. Wall Street was impressed with the quarter, but investors balked at pullbacks in growth businesses, waning upside during the second half of the year, and fear that the automaker’s earnings power has peaked.
Stellantis reported “disappointing” first-half results, as described Thursday morning by CEO Carlos Tavares, largely due to ongoing issues in its North American operations.
NYSE-listed shares of Stellantis closed Thursday at $18.09, down 7.7%, and trading near a 52-week low set in August of $17.57 per share.

Stock chart icon

Stock performance of Ford, GM, Stellantis and Tesla amid earnings reports this week.

Despite the ongoing problems, Stellantis reconfirmed its 2024 guidance that includes a double-digit adjusted operating income margin, positive industrial free cash flow and at least 7.7 billion euros in capital return to investors in the forms of dividends and buybacks.
“This is a very tough industry, a very tough period and everybody has to fight for performance,” Tavares said. “We will have to work hard to deliver that performance.”
Ford executives made similar comments when reconfirming its 2024 guidance despite it coming in a whopping 21 cents below adjusted earnings per share expectations. The automaker reported an additional $800 million in unexpected warranty costs compared with the prior quarter.
Ford’s 2024 guidance includes adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion.
Several Wall Street analysts voiced frustration over Ford’s reemerging warranty costs, but many were still optimistic about the company’s underlying business operations.
Most notably, Morgan Stanley’s Adam Jonas kept Ford as the firm’s “top pick,” while downgrading GM from overweight to equal weight — despite the Detroit automaker’s standout quarter.
“Impressive results considering large losses in EVs, Cruise and China. History suggests the good times won’t last,” Jonas said Tuesday in a GM investor note.
Jonas said the firm sees more potential upside in Ford, “albeit our conviction is being tested by continued challenges … many of which we believe are within management’s control.”
Shares of U.S. EV leader Tesla closed down 12% on Wednesday after the electric vehicle maker reported weaker-than-expected quarterly earnings and another drop in automotive revenue. The stock is off 10.7% in 2024, including a 7.9% decline this week through Thursday’s close.
— CNBC’s Michael Bloom and Lora Kolodny contributed to this report. More

Disney and Marvel’s “Deadpool & Wolverine” is expected to tally between $160 million and $180 million at the domestic box office during its debut.
The film is set to break numerous records during its opening weekend, including the highest opening of 2024 and for any R-rated film ever.
“Deadpool & Wolverine” also marks the first time an MCU film has garnered an R-rating from the Motion Picture Association.

Ryan Reynolds and Hugh Jackman star in Marvel’s “Deadpool & Wolverine.”

The “Merc with a Mouth” returns to the big screen this weekend, and he is doing more than bringing an R-rating to Disney’s Marvel Cinematic Universe.
“Deadpool & Wolverine,” the third stand-alone feature starring Ryan Reynolds as the regenerating degenerate, is expected to tally between $160 million and $180 million at the domestic box office during its debut.

The film is already the best ticket preseller of 2024, according to Fandango, and it is set to break numerous records during its opening weekend. Those marks include the highest domestic opening of 2024 and the biggest debut ever for an R-rated film.
Disney and Pixar’s “Inside Out 2” is currently the highest opener of the year at $154.2 million and the first “Deadpool” film’s $132.4 million debut is the highest for any R-rated feature, according to data from Comscore.
“I think no question this is going to open as the largest R-rated movie of all time,” said Mike Bowers, president and CEO of Harkins Theatres, a theater chain based in Arizona. “And it’s already one of the top presale movies historically for us.”

Deadpool at the box office

“Deadpool” (2016)

Opening: $132.4 million
Global gross: $782.6 million

“Deadpool 2” (2018)

Opening: $125.5 million
Global gross: 786.3 million

Source: Comscore

“Deadpool & Wolverine” is the 34th film to be released under the MCU banner and the first to garner an R-rating from the Motion Picture Association. The previous two Deadpool films, both rated R, were produced and released through 20th Century Fox. Disney acquired the company in 2019, bringing the X-Men and Fantastic Four back into the larger Marvel portfolio.
Similar to previous entries in the MCU, “Deadpool & Wolverine” is benefiting from fan fervor. Audiences are eager to see the flick in its opening weekend in order to avoid spoilers. Disney has kept much of the film’s content secret and provided limited press screenings prior to its debut.
Bowers expects audiences will keep coming back for more in the weeks after the film’s opening.
“This is a film that there’s so much happening, so many jokes and funny sequences that no one’s gonna be able to eat just one, you know, they’re gonna be back,” he said.
Ellis Jacob, president and CEO of Cineplex, the largest movie theater chain in Canada, echoed Bower’s thoughts. Jacob said “Deadpool & Wolverine” is filled with Easter eggs and audiences will return to try and see them all.
He also noted that many of those moviegoers are buying tickets for premium screenings, such as IMAX, Dolby and ScreenX, which come at higher prices.
Marvel has also collaborated with movie theaters to license merchandise such as collectible popcorn buckets and drink containers that cinema operators expect will sell quickly. Concessions have always been the biggest money maker for theaters, and having limited-edition items can drive even higher food and beverage sales.
Of course, “Deadpool & Wolverine” is also an important release for the overall Marvel Cinematic Universe. Disney has “eased off the gas pedal” and planned fewer releases in the series that drove the global box office for more than a decade, said Shawn Robbins, founder and owner of Box Office Theory. He said Disney is trying to right the ship after a series of theatrical missteps and poor box office hauls, as well as a deluge of streaming content that overcrowded the market and overwhelmed even the MCU’s biggest fans.
“Ultimately, as much as this is a Marvel movie, it may be viewed equally as a midsummer action comedy that stars personalities and brands that die-hard fans and casual viewers love,” said Robbins. “Reynolds and Jackman are a grand slam duo given their respective pop culture presences and friendly back-and-forth across social media and interviews. There’s also a genuine curiosity about how the MCU’s first R-rated film will play out and hold to the qualities which made the first two Deadpool films and [Jackman’s 2017 Wolverine film] ‘Logan’ so popular.”

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Toy company Hasbro beat Wall Street expectations for the second quarter on Thursday, thanks in part to growth in its digital gaming segment.
Hasbro reported a net income of $138.5 million, a significant gain from the same quarter last year, when it reported a net loss of $234.9 million.
CEO Chris Cocks said during the company’s earnings call that it’s going “all in” on digital gaming.

Hasbro board games are seen for sale at a Target store on December 12, 2023 in Austin, Texas. 
Brandon Bell | Getty Images

Toy company Hasbro beat Wall Street expectations for the second quarter on Thursday, thanks in part to growth in its digital gaming segment.
Shares of the company jumped more than 3% in afternoon trading.

Here’s how Hasbro performed in the quarter ended June 30 compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:

Earnings per share: $1.22 adjusted vs. 78 cents expected
Revenue: $995 million vs. $944 million expected

Hasbro reported net income of $138.5 million, or 99 cents per share, for the quarter. That marked a significant gain from the same quarter last year, when the company reported a net loss of $235 million, or $1.69 per share.
Though Hasbro’s revenue declined 18% overall for the quarter, its Wizards of the Coast and digital gaming segment saw 20% revenue growth. This partially offset a drop in consumer product revenue of 20%, as well as a decline in the company’s entertainment segment of 90%, driven by the divestiture of production studio eOne.
Hasbro attributed the revenue increase for Wizards of the Coast and digital gaming to the launch of Magic’s card game, Modern Horizons 3, and the continued impact of licensed and digital gaming, with Monopoly Go! leading along with Baldur’s Gate 3.
CEO Chris Cocks said during the company’s earnings call that it continues to invest in its digital gaming portfolio, highlighting the recent appointment of John Hight as president of Wizards of the Coast and digital gaming.

“Between our board move and talent we brought on board, most recently with John … we’re going all in on becoming a digital play company,” Cocks said.
Hasbro anticipates further revenue declines for the full year, with consumer product revenue projected to be down 7% to 11% and Wizards of the Coast revenue anticipated to be down 1% to 3%.
The company estimates a total adjusted EBITDA for the full year of between $975 million and $1.025 billion. Hasbro also expects to cut costs by $750 million by the end of 2025.

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Shares of Viking Therapeutics jumped on Thursday after the biotech company a day earlier announced plans to advance its experimental weight loss injection into a late-stage trial earlier than expected. 
It brings the drugmaker one step closer to joining the highly popular market for GLP-1s, which analysts say could grow into a $150 billion market by the end of the decade. 
Viking previously said it was expecting to start another mid-stage trial on its weekly injection, called VK2735, after reporting positive results from another phase two study in February. 

Weight loss drug concept.
Cr | Istock | Getty Images

Shares of Viking Therapeutics jumped 16% in premarket trading Thursday after the biotech company a day earlier announced plans to advance its experimental weight loss injection into a late-stage trial earlier than expected. 
It brings the San Diego-based company one step closer to joining the highly popular market for GLP-1s, which analysts say could grow into a $150 billion market by the end of the decade. 

Viking is one of several small and large drugmakers hoping to compete in the space against Novo Nordisk and Eli Lilly, whose weight loss and diabetes GLP-1s have skyrocketed in demand over the last two years. 
Shares of both Novo Nordisk and Eli Lilly fell around 2% in premarket trading Thursday. 
Viking previously said it was expecting to start another mid-stage trial on its weekly injection, called VK2735, after reporting positive results from another phase two study in late February. 
But after receiving written feedback from the Food and Drug Administration, the company has decided to move the injection directly into a phase three trial, CEO Brian Lian said during an earnings call on Wednesday. 
Lian said the company is preparing to meet with the FDA in the fourth quarter to discuss the design and timing of that phase three trial, with plans to start the study afterward.

That decision will likely shave a year off of Viking’s development timeline for the injection, BTIG analyst Justin Zelin said in a note on Wednesday. Currently, analysts estimate that the drug will launch in 2029, Zelin said. 
During the call, Lian added that Viking expects to test VK2735 as a monthly injection in a future study. That could make the treatment a more convenient option than Eli Lilly’s Zepbound and Novo Nordisk’s Wegovy, which are both taken once a week.
Viking Therapeutics’ drug promotes weight loss by targeting a GLP-1 and another hormone called GIP. Those are the same hormones that Eli Lilly’s Zepbound and diabetes counterpart Mounjaro target.
Patients who received weekly doses of the Viking’s injection in a phase two trial lost up to 14.7% of their body weight, or 13.1% when compared to placebo, after 13 weeks. 
Viking is also developing an oral version of VK2735. That pill caused 3.3% weight loss when compared to a placebo in an early-stage trial.  More

American Airlines slashed its profit forecast for the year after a backfired sales strategy and an industry-wide glut of flights.
The carrier’s profit fell 46% during the second quarter even though revenues rose.

American Airlines shares shed more than 5% in premarket trading Thursday after the carrier slashed its profit forecast for the year after a backfired sales strategy and an industry-wide glut of flights that have forced airlines to discount seats.
American said it expects to earn an adjusted 70 cents to $1.30 per share this year, well below the $2.25 to $3.25 a share it forecast in April and short of the $1.10 to $2.60 a share that Wall Street analysts were expecting, according to LSEG.

The Fort Worth-Texas based airline also estimated its unit revenue would drop as much as 4.5% for the third quarter as high travel demand failed to make up for an excess of flights.
The carrier has been trying to undo policies of a direct-to-consumer sales strategy it adopted that backfired. It said in an earnings release Thursday that it has “taken swift and aggressive action to reorient its sales and distribution strategy” after complaints from travel agents and customers.
“American has a fleet, network and product built to deliver results, but during the second quarter, we did not perform to our initial expectations due to our prior sales and distribution strategy and an imbalance of domestic supply and demand,” American’s CEO Robert Isom said in a news release.
Here is how American performed in the second quarter compared with Wall Street estimates compiled by LSEG:

Earnings per share: $1.09 adjusted vs. $1.05 expected
Revenue: $14.33 billion vs. $14.36 billion expected

Southwest’s profit fell 46% during the second quarter to $717 million, or $1.01 per share, even though revenues rose 2% to $14.33 billion.

Adjusting for one-time items, the airline reported earnings of $1.09 per share.
American’s results come after Southwest Airlines also reported a 46% drop in its quarterly profit and said it is taking “urgent” steps to increase revenue.

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