(Reuters) -Dell Technologies beat Wall Street estimates for first-quarter revenue on Thursday, ending a streak of six-quarters of decline, but its results fail to impress investors, sending its shares down more than 13% in extended trading. A surge in demand for high-performance computing and large-scale data centers to support growing adoption of generative AI has…
(Reuters) – Merck on Wednesday agreed to acquire privately held biotech EyeBio for as much as $3 billion, the latest in a string of deals by the US drugmaker to bolster its future growth. It agreed to pay $1.3 billion in cash and another $1.7 billion in future milestone-based payments for EyeBio, and will gain…
WASHINGTON (Reuters) – Donald Trump is considering tapping billionaire Elon Musk as a policy adviser if the Republican presidential candidate reclaims the White House in November’s election, the Wall Street Journal reported on Wednesday, citing people familiar with the talks. The two have discussed ways for Musk, who runs the social media platform X as…
(Reuters) -ConocoPhillips on Wednesday agreed to buy Marathon Oil in a $22.5 billion all-stock deal, the latest in a series of mega-deals in the oil and gas industry as companies look to bolster reserves. The U.S. oil and gas industry has been riding a consolidation wave over the last two years. Last year was one…
By Mike Scarcella (Reuters) – Visa and Mastercard have agreed to pay $197 million to resolve a class action by millions of consumers accusing the financial payment companies of keeping cash access fees artificially high. The plaintiffs’ lawyers revealed the proposed accord on Wednesday in a filing in Washington, D.C., federal court. The settlement involves…
By Zaheer Kachwala (Reuters) – Nvidia’s shares rallied around 6% to hit a record high on Tuesday, leaving the AI chipmaker’s stock market value about $100 billion away from overtaking Apple in a major reshuffle of Wall street’s biggest players. Last trading at $1,128, Nvidia’s market capitalization reached $2.8 trillion, compared to a market value…
(Reuters) – The Biden administration is urging big technology companies to ramp up efforts to curb antisemitic content on their platforms, Bloomberg News reported on Tuesday. Representatives from companies including Alphabet, Meta, Microsoft, TikTok and X met on Thursday with U.S. special envoy Deborah Lipstadt to monitor and combat antisemitism. Lipstadt requested that each company…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Elon Musk is offering factory tours to 15 Tesla shareholders who vote on his $56 billion pay package at the upcoming meeting, the latest effort by the electric vehicle maker to rally votes for the compensation after a court struck it down. The upcoming vote is seen as…
(Reuters) – American Airlines on Tuesday cut its second-quarter profit forecast, sending the shares of the carrier down about 4% in aftermarket trading. The company now expects second-quarter adjusted earnings per diluted share to be between $1.00 and $1.15, down from its previous expectations of between $1.15 and $1.45 per share. It now expects total…
By Dietrich Knauth NEW YORK (Reuters) – FTX’s bankruptcy lawyers at Sullivan & Cromwell were not complicit in the fraud that caused the crypto company to collapse, a court-appointed examiner concluded on Thursday. Former FTX CEO Sam Bankman-Fried was convicted in November of stealing $8 billion from FTX customers. FTX creditors and investors had accused…
