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Trump Media named Rumble and Parler as possible merger partners, according to documents obtained from a company whistleblower.
Rumble, which currently provides Truth Social’s video hosting services, recently went public through a SPAC deal, a process Trump Media is currently looking to complete, too.
Parler recently made news after Ye, the artist formerly known as Kanye West, said he would buy the conservative platform.

The Rumble video platform logo on a laptop computer arranged in Hastings on Hudson, New York, on Saturday, Jan. 23, 2021.
Tiffany Hagler-Geard | Bloomberg | Getty Images

Trump Media and Technology Group executives named Parler and Rumble as theoretical acquisitions or partners, according to documents provided by co-founder and whistleblower, William Wilkerson, through his counsel.
Wilkerson was one of the early executives at Trump Media and its Twitter-esque social media platform Truth Social. The project was started by former President Donald Trump after he was banned from Twitter over his tweets during the Jan. 6, 2021, Capital riot, when hundreds of his supporters invaded Congress in an attempt to block confirmation of Joe Biden’s election victory.

Among Wilkerson’s documents — which range from the summer of 2021 to the fall of 2022 — is a photo depicting a flow chart on an easel describing “Trump’s New Media Empire,” which lists a series of “potential acquisitions and/or partnerships.” The graphic lists fellow right-wing-friendly social media platform Parler — which Ye, the artist formerly known as Kanye West, said he would buy — conservative video platform Rumble, as well as Discord and linear cable channels like One America News and Newsmax.
The undated photo features Andy Dean Litinsky, another Trump executive and former “Apprentice” contestant who Wilkerson alleges was fired for not gifting shares of Trump Media to Melania Trump. Litinsky was fired in March.
Rumble, which currently provides Truth Social’s video hosting services, recently went public through a SPAC deal, a process Trump Media is currently looking to complete, too. Trump Media’s deal with shell company Digital World Acquisition Corp., however, is facing legal and financial obstacles.
The agreement has passed key deadlines, losing over $100 million in potential funding along the way. Attempts to extend such deadlines have failed to garner support to delay the merger deadline until next year. Another shareholder meeting is scheduled for Thursday morning.
DWAC and Trump Media are also the subject of a criminal probe into possible securities violations relating to conversations that occurred between the two parties prior to the merger announcement.

Amidst these problems, Wilkerson told The New York Times that it’s plausible that Trump Media could merge with the already public Rumble, unlocking access to around $400 million in cash.
“It is a high probability now that Rumble is a publicly traded entity,” Mr. Wilkerson said during the interview with The New York Times, which he did alongside his legal team of Philip Brewster, Patrick Mincey and Stephen Bell.
Representatives from Trump Media, DWAC and Rumble did not respond to questions about the possibility of such a deal. Parler didn’t respond to a request for comment.
While the photo names these possible acquisition targets, it also names a number of other ventures for Trump Media that have yet to come to fruition, including “Trump Faith/Classic Films,” “Trump Book Publishing” and “Trump Documentaries.”

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Boeing is planning to ramp up production and deliveries of new aircraft.
Boeing expects free cash flow of $3 billion to $5 billion next year.
Supply chain problems and labor shortages have stymied output and deliveries of new planes.

An aerial view of the engines and fuselage of an unpainted Boeing 737 MAX airplane parked in storage at King County International Airport-Boeing Field in Seattle, Washington, June 1, 2022.
Lindsey Wasson | Reuters

Boeing is planning to ramp up production and deliveries of new aircraft, propping up its forecast for higher cash in 2023, it said Wednesday.
Supply chain problems and labor shortages have stymied output and deliveries of new planes, Boeing and Airbus said last week. Airlines have complained that airplane shortages are hurting their ability to add more flights.

Boeing forecast free cash flow of between $3 billion and $5 billion next year, below the $6.53 billion analysts polled by FactSet expected, but above the $1.5 billion to $2 billion in free cash it expects to generate this year.
Deliveries are important to aircraft manufacturers because it’s when airlines or other customers pay the bulk of the sale.
The Arlington, Virginia-based company said it expects to deliver between 400 and 450 of its 737s next year, up from about 375 planes this year.
Boeing shares added 2.8% Wednesday after it released its forecast for the coming years at an event for analysts and investors at its Seattle-area facilities — the first of its kind since 2016, a spokeswoman said.

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Luminar is now shipping lidar units to SAIC Motor, China’s largest automaker, ahead of schedule.
The company’s Iris lidar units will also be featured on upcoming new models from Polestar and Volvo.
The announcement comes alongside Luminar’s third-quarter results, in which the company reported an adjusted loss of 18 cents per share on revenue of $12.8 million.

Luminar showcased the first passenger vehicle, a Toyota RAV4, fully integrated with the company’s Iris lidar, which is on-track for series production with its partners starting in late 2022.

Automotive sensor company Luminar said it has begun production of its Iris lidar units for an automaker client, a major milestone that it had previously expected to reach around year-end.
Luminar’s lidar units are part of an advanced driver-assist system on the Rising Auto R7, a new electric SUV from the largest Chinese automaker, SAIC Motor. The start of production follows months of testing, in which prototype R7s using the new system covered over 400,000 kilometers on roads across China, Luminar said.

“After 10 years of innovating, prototyping, developing, industrializing, all this stuff, we’ve finally hit the big inflection point,” CEO Austin Russell told CNBC in an interview on Wednesday. “Autonomous technology has for the first time evolved from R&D into consumer production vehicles.”
The announcement comes alongside Luminar’s third-quarter results, in which the company reported an adjusted loss of 18 cents per share on revenue of $12.8 million. A year ago, Luminar reported a loss of 10 cents per share and revenue of $8 million for the third quarter of 2021.
Luminar also confirmed its previous guidance: It still expects to generate $40 million to $45 million in revenue for the full year. Luminar had $553 million in cash on hand as of the end of the third quarter, down from $605 million in cash as of June 30.
Luminar previously announced deals to supply other automakers including Volvo Cars and Polestar, but it hadn’t previously revealed plans to begin production of the Iris units earlier than 2023. Luminar’s lidar will be standard equipment on Volvo’s upcoming electric flagship SUV, the EX90, set to be revealed next week.
The upcoming electric Polestar 3 SUV will also feature Luminar’s lidar units in an optional driver-assist package that will be available next year, Polestar confirmed last month.
The lidar units are being made in a factory in Mexico owned by Canadian electronics manufacturer Celestica. Celestica and Luminar are together building a new dedicated factory, also in Mexico, that will be able to manufacture 250,000 Iris units per year. That factory is on track to begin production in mid-2023, Russell said.

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American Airlines pilots’ union rejected a labor deal 15-5.
The rejection comes a day after United pilots turned down a proposed agreement.
Unions are negotiating with airlines throughout the industry.

American Airlines jet parked at LaGuardia International Airport in New York. 
Adam Jeffery | CNBC

American Airlines pilots’ union on Wednesday said its board of directors rejected a tentative agreement for a new contract, the latest in a series of setbacks in labor talks across major U.S. airlines.
The Allied Pilots Association, which represents roughly 15,000 American Airlines pilots, said its board voted against the tentative deal 15-5. The proposal called for 12% raises for pilots on the date of contract signing, plus 5% after one year, and 2% after two years, according to a copy of the agreement in principal.

American didn’t immediately comment.
The rejection comes a day after United Airlines pilots turned down a deal that would have included roughly 15% raises.
Labor unions are pushing for higher wages and better schedules, among other improvements, in new labor deals. The Covid-19 pandemic had put labor talks on hold as airlines focused on making it through a massive drop in travel demand.
“We cannot vote to approve a [tentative agreement] that does not adequately address the quality-of-life items of our line pilots,” union representatives based at American’s Dallas/Fort Worth International Airport hub said in a note to pilots before the vote. “The Company has returned a proposal that is not only subpar in these areas, but it also demonstrates a complete lack of understanding how important these issues are for you.”

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Ford F-150 pickup trucks at a dealership in Colma, California, on Friday, July 22, 2022.
David Paul Morris | Bloomberg | Getty Images

DETROIT – Ford Motor’s U.S. sales last month declined by 10% as the automaker battled through supply chain issues that delayed shipments to dealers.
The Detroit automaker on Wednesday reported sales of 158,327 new vehicles in October, which was off from nearly 176,000 units sold during the same month a year earlier.

Ford’s October sales were far lower than the overall industry. Edmunds reports overall auto sales increased 9.1% compared with a year earlier to nearly 1.2 million vehicles sold.
This is a developing story. Please check back for more updates.

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CVS Health beat Wall Street’s expectations in its third quarter earnings report.
The company raised its full-year outlook for the second consecutive quarter.
CVS also agreed to an opioid settlement totaling around $5 billion.

Rafael Henrique | Lightrocket | Getty Images

CVS Health reported third quarter earnings Wednesday morning that beat Wall Street’s expectations. 
Here’s how the pharmacy giant performed compared to Wall analysts’ estimates, according to Refinitiv:

Earnings per share $2.09 vs. $1.99, expected.
Revenue $81.16 billion vs. $76.75 billion, expected.

It’s the third consecutive quarter in which CVS beat earnings expectations. Revenue rose 10% year-over-year.
CVS’ Health Care Benefits segment grew nearly 10% compared to the same quarter last year, driven in part by an increase in its medical memberships from 2021. Pharmacy services revenue increased over 10% compared to the period last year, as total claims processed increased by more than 3.6%, with gains offest by a decline in Covid vaccinations.
The retail and long-term care segment saw revenue increase nearly 7%, but its profit decreased due largely to a decline in demand for Covid tests and vaccines.
The company on Wednesday also reported a $5.2 billion charge in the third quarter for a settlement relating to its role in the opioid crisis. According to CVS, the settlement resolves all existing claims against the company relating to opioid distribution.
The company raised its full year outlook for the second consecutive quarter. Now, the company expects an adjusted earnings per share for the full year of between $8.55 and $8.65, up from the range of $8.40 to $8.60 that it announced in August atop healthy traffic and Covid-related anti-viral drug sales.

Shares were up around 2% in premarket trading.
CVS encompasses a large swath of health care services, including its prescription and over-the-counter medicine sales, its MinuteClinic patient care services and its pharmacy benefits manager, CVS Caremark. The company also owns Aetna, a managed health insurance company.
The retailer has signaled a renewed focus on health care this quarter, announcing its purchase of Signify, an at-home health care company, for $8 billion in September. That deal is expected to be completed in the first half of 2023, CVS said during its Wednesday morning earnings call.
The move mirrors Amazon and Walgreens own expansions further into health care services. Amazon is acquiring OneMedical, a chain of boutique doctor’s offices, for $3.9 billion. Walgreens is currently opening doctors offices in a partnership with VillageMD.
CVS is continuing its expansion efforts with its health care business. CEO Karen Lynch said on Wednesday that the company is looking for a suitable acquisition target to provide primary care services.
CVS is now selling over-the-counter hearing aids, thanks to a change in categorization from the Food and Drug Administration.
CVS said it would pay $5 billion over the next 10 years to states, tribes and others to settle opioid claims. The settlement would cover all claims relating the retailers’ contribution to the opioid epidemic, according to the company. Walmart and Walgreens reportedly settled alongside CVS, according to Reuters.
In September, CVS agreed to pay a $82.5 million settlement to West Virginia for its role in fueling the opioid crisis in the Mountain State. The pharmacy was accused of lax oversight of the prescription pills it sold.

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Tiger Woods’ and Rory McIlroy’s sports venture has announced a new group of investors.
The group includes champion athletes and sports team owners.
TMRW Sports’ first venture is its TGL golf league, which kicks off in January 2024.

Co-founders Tiger Woods, Rory McIlroy and Founder, CEO Mike McCarley
Courtesy: TMRWSports

Tiger Woods’ and Rory McIlroy’s new sports startup — which is already planning a new golf league — is drawing some big-name investors.
TMRW (pronounced “tomorrow”) Sports announced on Wednesday a new investment group that includes basketball great Stephen Curry, race car driver Lewis Hamilton, women’s soccer player Alex Morgan, pro football’s Tony Romo and Josh Allen, Justin Timberlake and Serena Williams, in addition to several professional team sports owners.

Financial terms of the deal were not disclosed.
“We wanted a group of people who have a vision for how technology can help make sports more accessible and culturally relevant and attract new and different groups of fans — and that’s ultimately younger fans, and families,” Mike McCarley, CEO and co-founder of TMRW Sports, told CNBC.

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Pro sports owners who have taken a stake include Atlanta Falcons owner Arthur Blank, Philadelphia 76ers co-owner David Blitzer, Minnesota Vikings owner Mark Wilf and Boston Red Sox co-owners John Henry and Tom Warner.
TMRW Sports’ first project is its TGL golf league, which was launched in partnership with the PGA Tour this summer and comes as professional golf is being disrupted by the arrival of upstart league LIV Golf. TMRW Sports is looking to draw in younger sports fans with a format that makes the golf league more compatible with prime-time television.
McCarley said the company sought investors who were passionate about golf and would represent a diversity of expertise and backgrounds in media and entertainment.
TMRW Sports said members of the new investment group accumulatively have received 40 Emmy awards, 10 Grammy awards, and 21 Olympic gold medals, and have played in 32 NBA All-Star Games, eight NBA championship series, 16 NFL Pro Bowls and 26 Grand Slam singles.
“So many athletes, entertainers, and people I meet from all walks of life share our passion for sports, but they also share our desire to build a better future for the next generation of sports fans,” Woods said in August, when TMRW Sports was launched.
The announcement came after the Saudi-funded LIV Golf had drawn many PGA Tour golfers with bigger prize money and a less rigorous schedule. In response, the tour has increased its own prize money and sought new ways to win over fans.
McCarley said TGL has not signed a media deal, but is currently in talks about broadcasting rights.

Rendering of the custom built arena where the TGL golf league will play.
Courtesy: TMRWSports

He said he’s collaborating with Woods and McIlroy on everything from the format of the events to the scoring. They are also looking at ways technology could enhance the game, such as a virtual course that will bring the game indoors, eliminate worries about weather conditions and provide real-time stats.
Woods and McIlroy are the first two golfers committed to compete in the league’s inaugural season, set to kick off in January 2024. McCarley said they are recruiting others and will be making additional player announcements soon.
Competition will only be open to PGA Tour golfers.

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Ferrari raised its guidance for full-year revenue and profit.
The supercar maker’s third-quarter earnings beat estimates on a jump in deliveries of its high-priced sports cars.
But Ferrari’s profit margin dipped from a year ago, as the mix of cars shipped leaned more toward relatively lower-priced models.

Ferrari CEO Benedetto Vigna poses for a photograph as Ferrari unveils a new long term strategy, in Maranello, Italy, June 15, 2022.
Flavio Lo Scalzo | Reuters

Ferrari on Wednesday again raised its guidance for the full year after shipments, revenue and earnings per share all rose by double-digit percentages during the third quarter.
Still, Ferrari’s profit margin fell as it shipped a less profitable mix of vehicles during the period.

The Italian supercar maker now expects revenue of about 5 billion euros and adjusted earnings per share of about 5 euros for the full year. It last raised its 2022 guidance in August, telling investors to expect revenue of about 4.9 billion euros and adjusted earnings per share of between 4.80 euros and 4.90 euros for the year.
Ferrari’s shares fell about 1% in premarket trading. Here are the key numbers from the third-quarter earnings report:

Earnings per share: 1.23 euros vs. 1.18 euros expected by Wall Street analysts polled by Refinitiv.
Revenue: 1.25 billion euros vs. Wall Street’s estimate of 1.16 billion euros per Refinitiv.

“Today, we continue to manage an outstanding order book: with the exception of few models, our entire range is sold out,” CEO Benedetto Vigna said in a statement.
Ferrari shipped 3,188 vehicles in the third quarter, up 16% from a year ago. The increase in deliveries was driven by the ramp-up in production of the six-cylinder hybrid 296 GTB sports car, Ferrari said. But those gains were partially offset by lower shipments of the higher-priced eight-cylinder hybrid SF90.
The change in mix led to a decline in Ferrari’s EBIT (earnings before interest and tax) margin, to 23.9% from 25.7% in the third quarter of 2021.
This story is developing. Please check back for updates.

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