Whole Foods, Shake Shack coming to St. Johns County’s fastest-growing community

Boeing Co. received a $13.4 billion contract modification from the U.S. Department of War, raising the total contract value to $19.1 billion. The contract, originally awarded in 2019, includes Foreign Military Sales work for Japan, Israel, and future partners. Work will be completed in Seattle by April 28, 2035, with no funds allocated at the time of the award.

Fitch upgraded Citizens Financial Group (CFG) and Citizens Bank to 'A-' from 'BBB+', citing improved earnings and profitability. The upgrade reflects margin expansion, stable credit costs, and growth in fee-generating businesses. CFG's non-interest income was 28% of revenue in H1 2026, with wealth management and capital markets revenue up 16% and 52% YoY, respectively. The impaired loan ratio was stable at 1.8%, and the CET1 ratio was 10.4% in Q2 2026.

AstraZeneca's breast cancer drug, Etcamah, failed to meet the primary endpoint in a late-stage trial, causing a 3% drop in its U.S.-listed shares. The trial tested the drug in combination with palbociclib for advanced breast cancer. AstraZeneca plans to share full trial data later. The FDA recently granted accelerated approval for Etcamah with certain targeted cancer medicines.

S&P Global Ratings revised Hormel Foods' outlook to negative from stable, citing high leverage at 1.8x, above expectations. The firm forecasts modest improvement to 1.7x in 2027 and 1.6x in 2028. Hormel's EBITDA margins have fallen to under 11% due to rising input costs and operational issues. The company is divesting lower-margin assets, but S&P notes these have not significantly reduced debt. A lower rating is possible if leverage does not improve.

Microsoft's communications boss Frank Shaw is leaving after nearly 30 years, according to a memo. Shaw, 64, has been in his role for 17 years and played a major role in shaping Microsoft's external communications. His departure comes as Microsoft undergoes changes, focusing on AI and cloud computing. Microsoft's Azure cloud business crossed $100 billion in annual revenue, driven by AI demand.

Elanco Animal Health completed a $120 million expansion of its biologics plant in Kansas, increasing capacity fourfold. The company plans to invest an additional $30 million by 2028, aiming for unconstrained supply of its dermatology product Befrena by early 2027, as demand is twice expectations.