BUSINESS

Blue Origin plans to launch an up-to-51,600-satellite constellation called ‘Project Sunrise’ to power AI.

Eight state attorneys general have filed an antitrust suit against the $6.2 billion Nexstar-Tegna merger, which the Trump administration backed after Nexstar moved to suspend Kimmel’s show.

Detroit Pistons All-Star guard Cade Cunningham suffered a left pneumothorax and a collapsed lung apparently after colliding with Washington Wizards Tre Johnson.

It’s not exactly a secret that a core part of Costco’s business model is treating members well and making them feel valued.”The most important item we sell is the membership card,” Costco CEO Ron Vachris told Fortune magazine in 2024.Costco also recognizes that if it wants to retain members, it needs to keep investing in ways to improve the customer experience. Many people are cutting back on spending in the wake of persistently elevated living costs. For some, a Costco membership isn’t a given — it’s a luxury. “We continue to invest in building a larger pipeline of new warehouses, remodeling our existing warehouses to drive continued growth in high-volume buildings, expanding our depot network to support operations, and enhancing the member digital experience,” CFO Gary Millerchip told investors during the company’s most recent earnings call. And there’s another investment Costco is making that could make shopping there better. Costco invests in higher employee wagesCostco has always prided itself on treating its workers well. The company is known to have a competitive starting wage, and upward mobility within the company is common.In fact, Costco’s current CEO Ron Vachris began his career as a forklift driver. Now, he’s running the company.Related: Costco proves it’s winning the price war”We feel good that we will continue to reinvest,” Vachris said during Costco’s most recent earnings call. “That is what we do, both in employees and in pricing and in the business overall.”Last year, Costco shared plans to increase pay for most of its hourly U.S. store workers to more than $30 per hour, Reuters reported. And it seems the company is making good on that promise.In a recent Reddit thread, Costco employees shared what their hourly pay looks like. And the numbers were impressive.”I make 32.90 an hour while cashiering, and 33.90 an hour while driving a forklift in the morning,” said one employee.Another Redditor said they’re now making more than $40 per hour.But it’s not just that Costco pays a generous wage. As another Reddit user said, “I work 4-9 a.m. 5 days a week, and get great benefits for the family.”

Costco prides itself on treating its workers well.Shutterstock

Costco’s employee benefitsIn addition to competitive wages, Costco employees enjoy perks including the following.Health insurance, including dental and visionA 401(k) planLife insuranceShort- and long-term disability insurancePaid sick and vacation timeEmployee assistance programsEmployee stock options
Source: Costco
Costco’s approach to fair wages is great for membersClearly, Costco’s higher wages are a positive thing for the workers the company employs. But it’s not just Costco employees who benefit from competitive pay and incentives. Members get to benefit, too.When workers are treated well, they tend to treat customers well. Not only that, but a more stable workforce can lead to a better customer experience. Longer-term Costco employees know the stores inside and out and are equipped to clearly explain store policies. More Retail:Costco sees major shift in member behaviorRetail chain shuts all locations as legal changes hit industryCostco makes major investment in online shopping for membersT-Mobile launches free offer for customers after major lossLet’s remember that consumers these days have lots of choices when it comes to shopping for groceries and essentials. Discount grocers such as Aldi could seriously undercut Costco even when accounting for the savings that come with buying in bulk. And you don’t need a membership to shop at Aldi.But the value of a Costco membership isn’t just access to low prices. Rather, it’s about enjoying a consistently positive in-store experience — one that’s powered by satisfied employees who can focus on doing their jobs with less financial stress because they’re actually paid fairly.Maurie Backman owns shares of Costco.Related: Sam’s Club fixes problem that’s a major pain point at Costco

As expected, Micron Technologies (MU) delivered another earnings stunner, posting blowout Q2 results.Consequently, Bank of America analysts led by Vivek Arya bumped their price target to $500 from $400, underscoring deeper confidence in the memory giant’s long-term outlook.For BofA, the shift is broad-based and is upending the typical behavior of the memory cycle. For years, the sector was known for wild swings, but now, with supply remaining constrained amid a barrage of AI-driven demand, the script has completely flipped.Micron’s glowing Q2 report only strengthened that view, with standout numbers and guidance well above market expectations, suggesting that demand is still outpacing supply.However, despite posting another massive beat-and-raise quarter, Micron stock dropped about 5% in after-hours and trading early Thursday, March 19, according to Reuters.As of writing, Micron (MU) was trading at $436.21 per share, per Yahoo Finance. Nonetheless, Micron has been one of the best-performing stocks in recent months, delivering a superb 161% gain over the past six months and more than 54% year to date, Seeking Alpha noted.As I covered in my previous article on Micron, Citi raised its price target ahead of earnings, driven by an unusually powerful AI-driven memory cycle and strong DRAM and NAND pricing.Hence, for now, the current setup feels like much more than just a rebound, and instead points to a far more durable, AI-led upcycle.Micron Q2 earnings snapshotQ2 non-GAAP EPS:$12.20, beating estimates by $3.54Q2 revenue:$23.86 billion, up 196.4% year over year, beating consensus by $4.56 billionFree cash flow: A record $6.9 billionDividend: Quarterly dividend of $0.15 per shareFiscal Q3 revenue guidance: $33.5 billion ± $750 million
Compared with the consensus of $23.27 billion
Fiscal Q3 gross margin guidance:Approximately 81% on both a GAAP and non-GAAP basisFiscal Q3 operating expenses guidance:
GAAP: Approximately $1.60 billion

Non-GAAP: Approximately $1.40 billion
Fiscal Q3 diluted EPS guidance:
GAAP: $18.90 ± $0.40

Non-GAAP: $19.15 ± $0.40

Compared with the consensus of $10.77

Source: Micron Technology investor relations

Bank of America’s Micron call points to a longer, stronger memory upcycleAt the heart of BofA’s bullish take on Micron is a fundamental shift in how analysts view memory.CEO Sanjay Mehotra offered his take during the Q2 earnings call.Here are three key points that stand out from the note.Pricing power may last longer. Memory is mission-critical to AI infrastructure, and cleanroom capacity is constrained through nearly 2027-2028, limiting how quickly supply can potentially catch up.A new five-year supply agreement changes the playbook. Longer-term deals point to clients focusing on guaranteed supply instead of short-term pricing swings, offering Micron greater visibility than previous cycles.Earnings power is being reset higher. The firm raised its 2026-2028 EPS estimates by 70%-100%.

Micron stock reacts as Bank of America updates its price target after the latest earnings results surprise.Green/Bloomberg via Getty Images

The numbers behind BofA’s bullish call on MicronBofA reiterated a Buy rating on Micron stock while raising its price target to $500 from $400, a 25% increase.With Micron at $461.73, that new target points to an 8.3% upside.BofA’s EPS model also got a meaningful bump with 2026E EPS of 55.35, up from 8.29 in 2025A and 1.31 in 2024A.The firm also projects 2027E EPS of $77.12 and 2028E EPS of $68.27, with earnings power staying comfortably above prior-year levels.Those estimates sit far above consensus: for 2026E, BofA is at $55.35, compared to $37.54 for Bloomberg consensus and $37.78 for Visible Alpha.The same gap holds in 2027E with BofA forecasting $77.12 EPS compared with $54.81 on Bloomberg and $56.51 on Visible Alpha.Despite the earnings ramp, valuation is compressed, with Micron trading at just 8.3 times 2026 estimated earnings and 6 times 2027 estimated earnings.With this in mind, BofA analysts believe that Micron’s margins will remain structurally above historical peaks, topping out near 60%.The bank isn’t ignoring the near-term risks, though, as we see profit-taking in the stock.It sounded the alarm on spot pricing potentially stabilizing and on Micron’s 81% gross margin guidance, marking a peak for this cycle.On the margin topic, CFO Mark Murphy pushed back in the Q2 Q/A session on the call. “Your question about reverting to some historical mean is the thing that should be revisited.”“AI is a transformational secular driver,” Murphy added, saying the sector remains supply-constrained beyond 2026.Related: Goldman Sachs doubles down on bold S&P 500 forecastAlso, Micron’s ballooning fiscal 2026 capex, which is hovering above $25 billion, will rise meaningfully in fiscal 2027, with construction-related capex alone expected to jump by over $10 billion year over year.The bulk of that is linked to the 2026 increase in cleanroom and facility spending, which will continue to pressure its liquidity position.For perspective, per GuruFocus, Micron’s cash-to-debt ratio stands at 0.83, modestly below its 10-year median.Wall Street boosts Micron price targets, but flags risks as cycle maturesWall Street raved about Micron’s Q2 earnings report, but it wasn’t without some caution.For the most part, the consensus is that earnings reinforced the ongoing shift in the memory space, spearheaded by AI demand, tight supply, and robust pricing power.More AI Stocks:Morgan Stanley sets jaw-dropping Micron price target after eventBank of America updates Palantir stock forecast after private meetingMorgan Stanley drops eye-popping Broadcom price targetHowever, compared to past cycles, the current one has much more staying power, especially with relentless data-center demand and long-term supply agreements that add significant visibility. Not everyone, though, is convinced that it’s only northward from here.Some see risks around lofty margins and growing capex, particularly if pricing slows. Nevertheless, the overall view is that Micron is well-positioned, backed by strong fundamentals that support continued growth as the cycle matures.Wells Fargo:$550, up from $470RBC Capital Markets:$525, up from $425JPMorgan:$550Citigroup:$510, up from $430Mizuho:$530, up from $480Morgan Stanley:$520, up from $450
Source: MarketScreener, StreetInsider
Related: Moody’s delivers blunt verdict on recession

The odds of submitting a perfect bracket are one in 9.2 quintillion if you flip a coin or guess on every pick.

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You probably locked in summer flights early this year, or maybe even snagged a deal that made you feel financially confident about your upcoming travel plans. That sense of certainty is about to get tested hard, because something has shifted dramatically behind the scenes at every major airline currently in full operation.The cost of fueling just one Boeing 737-800 for a domestic route surged by nearly $10,000 in under a single week earlier this month alone. Airline executives are no longer hiding behind careful corporate language, with United Airlines CEO Scott Kirby warning that fare increases will probably happen very quickly.The Iran conflict disrupted the world’s most critical energy shipping route, and the consequences are now reaching your next flight reservation in real time across the board.A 60% spike in jet fuel just reshaped the cost of every single flight you bookAt the start of 2026, a gallon of jet fuel in the United States cost $2.11, according to the Argus U.S. Jet Fuel Index published in early March of this year. By March 10, that same gallon had climbed to $3.40, marking a gain of more than 60% in barely over two months of volatile market trading.Related: Another airline prepares to file for bankruptcy, all flights offSeparate data from S&P Global’s Platts showed U.S. jet fuel reaching $3.78 per gallon by March 11, CNBC reported, approaching the panic levels seen during Russia’s 2022 Ukraine invasion. The International Air Transport Association reported that global jet fuel prices climbed approximately 83% over the past month as of March 17 of this calendar year.Fuel is an airline’s second-largest expense after labor, typically accounting for between 20% and 30% of all annual operating costs across the entire global aviation industry. United Airlines alone spent $11.4 billion on fuel in 2025, at an average per-gallon price of $2.44, according to a recent SEC filing from the carrier.Airlines around the world are already raising fares to cover mounting lossesThe cost pressure is no longer theoretical, because airlines across Asia, Europe, and Oceania have already announced fare hikes or added new fuel surcharges on tickets. Cathay Pacific revealed it would roughly double its fuel surcharges starting March 18, according to CNBC. CEO Ronald Lam told press that the cost of fuel so far this month was already double the average of the previous two months.More Airlines:American Air launching 15 new summer routes between U.S. citiesLow-cost airline will launch new flight to South Korea from USAmerican Airlines joins the Spirit Airlines bankruptcy caseAustralia’s Qantas Airways, Scandinavia’s SAS, and Air New Zealand all raised fares in recent days, each directly blaming the sharp and sudden global oil surge. Air New Zealand went further and pulled its full financial outlook entirely, stating it could not forecast results until fuel markets and broader operating conditions fully stabilized.Willie Walsh, director general of the International Air Transport Association, warned that global ticket prices across the aviation industry could jump by as much as 9%. Most fare hikes so far have come from carriers in the Asia-Pacific region, but analysts expect U.S. airlines to follow quickly if elevated fuel costs persist.The Strait of Hormuz closure triggered the largest oil disruption in modern historyThe root cause of this fuel price surge traces directly to a physical chokepoint in the Middle East called the Strait of Hormuz waterway. Iran declared the Strait effectively closed starting March 4, after the U.S.-Israeli military strikes on Iranian leadership and military infrastructure began on February 28 of this year.The Strait normally handles roughly 20% of the world’s total oil consumption and about 27% of all seaborne crude oil trade globally, per EIA analysis data. Tanker traffic through the waterway dropped by approximately 70% in the first week of the closure, with more than 150 ships anchoring outside to avoid potential strikes.Most U.S. airlines stopped hedging fuel costs before this crisis hit their booksHere is a detail that makes the current spike even more painful for every domestic carrier and, by direct extension, for every passenger flying inside the country. Most major U.S. airlines no longer hedge their fuel costs, meaning they do not lock in future prices using financial instruments like forward contracts or options.Southwest Airlines was one of the last major holdouts on fuel hedging, and the Dallas-based carrier quit its program entirely last year after winding it down. When jet fuel prices spike without hedging protection in place, U.S. carriers absorb the full cost and then pass those increases directly to you through fares.Some European and Asian carriers hedged portions of their fuel purchases earlier, but even those airlines warned that sustained high prices would eventually overwhelm their current protections.

Rising fuel prices driven by geopolitical conflict are forcing airlines to increase fares, impacting travel plans across major global routes.Anadolu/Getty Images

Rising fuel costs extend far beyond plane tickets to everyday household expensesThe jet fuel spike is part of a broader oil price shock that is already reaching you at the gas pump and inside your regular grocery bill. The national average gasoline price reached $3.79 per gallon as of mid-March, rising approximately 80 cents from one month earlier, according to AAA fuel data tracking.Diesel prices topped $5 per gallon for the first time since Russia’s 2022 invasion of Ukraine, which directly pushes up trucking and freight costs across the whole economy. Higher trucking expenses flow through the entire retail supply chain, meaning you could start seeing rising costs on groceries, consumer goods, and household essentials in the coming weeks.Nicholas Bloom, an economics professor at Stanford University, warned during a Harvard Kennedy School panel that this dynamic significantly worsens economic inequality across every income bracket. The people who can least afford rising prices on fuel, food, and airfare will be the ones most likely to feel the hardest financial squeeze this summer.Summer travelers face shrinking window to grab fares before they climb even moreIf you are planning to fly between June and August of 2026, the window to secure a reasonable fare may be closing faster than you initially expected. Jefferies airline analyst Sheila Kahyaoglu said the most severe financial impact on airlines will likely arrive within the next 30 to 90 days from this point.She explained that airlines had already booked ticket revenue for near-term flights, assuming much lower fuel prices, and cannot retroactively raise fares on those existing reservations. Related: American Airlines makes payment change some will appreciateThat gap between what airlines already charged weeks ago and what fuel costs right now means forward-looking ticket prices will rise more aggressively to compensate quickly.UBS analysts noted that the current strong demand environment gives airlines the cover to push fares higher, because leisure and business travel bookings remain surprisingly strong. Rob Handfield, a global supply chain expert at North Carolina State University, told reporters he expects visible fare increases on search engines within just a few days.Smart moves you can make right now to protect your summer travel spendingYou are not powerless in this environment, but acting fast and being strategic with your booking decisions will matter more now than in any recent travel year.Book summer flights now if your travel dates are already confirmed and set. Lock in your airfare now rather than waiting for prices to potentially drop any further this spring.Buy refundable or changeable tickets whenever that option is available, so you can rebook at a lower price if fares actually decline before your departure day.Use your airline miles and credit card points before their value erodes further.Check your frequent flyer and credit card points balances carefully, because award travel pricing often moves independently from the volatile and unpredictable cash fare market.Redemption rates on airline miles through programs from Chase, Amex, and Capital One may offer you better value right now than paying cash for overpriced tickets.Consider flying in August or choosing off-peak travel dates for real savings. Flying in August rather than June or July has historically saved travelers real money, because demand drops sharply once mid-summer school schedules begin to shift nationwide.Data from Points Path showed the cheapest days for summer 2026 flights clustered heavily in August, with early and mid-month dates ranking as the best available options.Book nonstop flights whenever your budget allows you to choose direct routesNonstop flights reduce your exposure to cancellations and delays that can strand you in cities where rebooking costs are now rising alongside the broader fare environment. Google Flights data show that layover flights save about 22% on average, but missed connections and stranding risks grow sharply during periods of widespread industry disruption.The longer this conflict continues, the steeper your overall travel costs could climb. The critical variable for your entire travel budget this year is duration, because analysts say the Strait of Hormuz closure length determines how high prices ultimately climb.Rick Joswick of S&P Global’s oil analytics team warned that a disruption lasting more than one month could mirror the severity of the devastating 1979 oil crisis, NPR reported. The 32 member states of the International Energy Agency agreed on March 11 to release 400 million barrels of oil from their emergency strategic petroleum reserve stockpiles.Joswick cautioned that releasing crude oil reserves may not quickly lower jet fuel prices specifically, because refineries still require time to convert raw crude into aviation fuel. President Donald Trump suggested the Iran conflict could end very soon, but conflicting signals from the administration have left both markets and airlines without any clear resolution timeline.For now, the safest assumption for your summer plans is that airfares will keep climbing unless the Strait fully reopens or oil markets find meaningful and lasting stability.Related: Iran’s shocking threat to boost oil to $200​

Kevin Warsh, ​President Donald Trump’s nominee to become the next Federal Reserve chair, has been asked by the ranking Democrat on the Senate Banking Committee to explain what, if any, relationship he had ‌with the late convicted sex criminal Jeffrey Epstein.Senator Elizabeth Warren (D-Mass.), a vocal critic of the former Fed governor, sent Warsh a March 18 letter demanding clarification on his potential relationship with the late pedophile. Warren cited two emails that suggested Warsh may have been invited to events Epstein appears to have been organizing.Warsh has not been accused of any crimes or wrongdoing connected to Epstein.He was named in a tranche of documents released by the Department of Justice on Jan. 30, 2026, related to the investigation and prosecution of Epstein and his close confidante Ghislaine Maxwell, currently serving a 20-year sentence for sex trafficking.Warren’s letter referred to communications by Epstein employees regarding a 2010 holiday party on the island of St. Barthélemy, often referred to as St. Barth’s.Warren asked Warsh to confirm whether he’d traveled to the island of St. Barthélemy in late 2010 or early 2011, and whether he’d attended any social functions where Epstein was present. Warren ​also asked Warsh to confirm ​whether he’d been in ⁠the presence of Maxwell.Sen. Warren’s letter also seeks President Trump’s links to EpsteinThe letter asked if Trump, who was once associated with Epstein and who appeared extensively in the government document ​release, attended any of the gatherings.Warren also asked Warsh to provide any ​communications with others ⁠associated directly with Epstein, and to detail any other interactions with Epstein or Maxwell not noted in the files thus far made available by the government.More Federal Reserve:Warsh nomination stirs Fed independence fears on Wall StreetThe letter requested a response by March 31. Warren emphasized that the American public had a right to understand Warsh’s possible interactions, noting that they allegedly occurred after Epstein had already been convicted of sex crimes involving a minor.Warsh, currently a fellow at the Hoover Institution at Stanford University, did not immediately respond to a request by TheStreet for comment.

Democratic Senator Elizabeth Warren called on President Trump’s nominee to lead the Federal Reserve, Kevin Warsh, to explain references to him in Justice Department files on the late disgraced financier Jeffrey Epstein.Shutterstock

Warren has frequently attacked Warsh’s nominationWarren has repeatedly questioned Warsh’s ability to remain independent from the White House, arguing that he has shifted his economic views to align with the president’s attempts to increase executive control over the central bank.She has called Warsh “Donald Trump’s sock pocket at the Fed,” claiming his recent dovish statements on interest rates and inflation reflect Trump’s sharp rhetoric for drastically lower interest rates.During the search for Powell’s replacement, the president repeatedly made it clear that he would not nominate someone who did not agree with his outlook. However, Trump also told reporters that he did not ask Warsh, a 55-year-old lawyer, to lower rates once he assumed the chair.Warsh’s nomination path stalled at SenateThe timeline of Warsh’s nomination to replace Powell remains unclear. Hearings before the Senate Banking Committee, expected to take place in March, have not been scheduled.A federal judge March 13 quashed two subpoenas from the Department of Justice in a criminal investigation into Powell’s testimony to Congress over cost overruns of the Fed’s $2.5 billion renovation of its headquarters.Related: Warsh nomination stirs Fed independence fears on Wall StreetBoth the judge and Powell called the probe a pretext by the Trump administration to lower interest rates dramatically over the past 14 months. The DOJ plans to appeal.Meanwhile, retiring Senator Thom Tillis (R-N.C.) has said he will block Warsh’s nomination at the Senate Banking Committee until the entire DOJ investigation is dropped. As I reported previously, Powell, whose term as chair ends May 15, said March 18 that if there is no Senate-confirmed replacement by that time, he will stay on as chair pro temp.Powell added that he had “no intention of leaving” the Fed board until the DOJ investigation is “truly over.”His term as a Fed governor ends May 2028, and he shared that he has “not made up my mind whether I will stay” if the criminal investigation ends prior to that timeline.Related: Kevin Warsh’s net worth: The Trump Fed nominee’s wealth & income

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