TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how Bed Bath & Beyond is getting help from a rival.
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00:00I'm Conway Gittins reporting from the New York Stock Exchange. Here's what we're watching on
00:03the street today. Stocks rebounded on Wednesday led by upbeat corporate results. The Dow set a
00:08fresh record closing high. United Airlines was a standout. The stock soared after the airline
00:14beat profit forecast and guided estimates higher for the holiday travel quarter. The airline
00:20echoed rival Delta when it said it saw early signs of a return of pricing power. Investors
00:25will have earnings and the economy to guide action on Thursday. Netflix and Taiwan Semiconductor
00:31released quarterly results. Meanwhile, retail sales, factory output and weekly jobless claims
00:36data are also due. Turning now to other headlines, there may be life after death for Bed Bath and
00:43Beyond. The houseware retailer that went bankrupt in 2023 is coming back, albeit in a limited
00:49fashion. It's going to be a store within a store at the Container Store. The partnership will
00:55infuse $40 million into the Container Store's business and help it cope with its own financial
01:00struggles. The retailer hasn't posted a profit in three years. In exchange, Bed Bath and Beyond
01:06will sell branded products inside the Container Store's 102 locations. Marcus Limones, executive
01:13chairman of Beyond Inc., which bought the name rights for Bed Bath and Beyond, said, quote,
01:18partnerships like this further support the value of iconic brands leveraging each other's assets
01:24and core competencies while improving customer conversion and retention, enhancing margins and
01:30optimizing market expenses, which are the principal drivers in delivering value creation
01:35and profitable growth. The Container Store hopes this partnership will help it avoid the same
01:41bankruptcy fate as Bed Bath and Beyond, which is now part of the Beyond portfolio, including
01:47online retailers Overstock and Zulily. That'll do it for your daily briefing from the New York Stock
01:53Exchange. I'm Conway Gittins with The Street.