SAO PAULO (Reuters) – Brazilian President Luiz Inacio Lula da Silva said on Friday that billionaire Elon Musk must respect the rulings of the country’s Supreme Court, amid an ongoing feud that left social media giant X on the brink of being taken down in Brazil. X was still working normally in Brazil on Friday […]
US FDA approves Emergent’s smallpox vaccine for people at high risk of mpox
(Reuters) -The U.S. Food and Drug Administration granted expanded approval to Emergent BioSolutions’ smallpox vaccine for use by people at high risk of mpox infection, sending the drugmaker’s shares surging 20% before the bell on Friday. The FDA clearance, announced late Thursday by the company, makes the vaccine, called ACAM2000, the second approved shot against […]
Intel rises as report of chipmaker exploring options stokes investor enthusiasm
(Reuters) – Intel’s shares rose more than 3% before the bell on Friday, as a report of the struggling chipmaker exploring options that could include a merger or a split induced some investor enthusiasm after one of the stock’s worst slumps in decades. The company is working with investment bankers and considering various options such […]
GM delays additional $330 million investment in Thacker Pass, Lithium Americas says
(Reuters) – Lithium Americas said on Friday automaker General Motors has delayed the second tranche of investment, worth $330 million, in the miner until the end of the year. GM had announced an investment of $650 million, in two tranches, in Lithium Americas last year to help it develop the Thacker Pass lithium mining project […]
Ulta Beauty lowers annual forecasts on slowing demand for beauty products
(Reuters) -Ulta Beauty cut its annual sales and profit forecasts on Thursday, hurt by slowing demand for higher-priced cosmetics and fragrances at its stores. The company’s shares, which have already fallen about 22% this year, were down 7% in extended trading. Once pandemic-related restrictions were lifted in the United States, people initially splurged on affordable […]
Stocks ease past Nvidia blues, crude oil rebounds
By Chibuike Oguh NEW YORK (Reuters) -Global shares edged higher on Thursday, shrugging off investor disappointment at artificial intelligence powerhouse Nvidia’s results, while oil prices rebounded from two sessions of losses helped by Libyan supply disruptions. The Dow reached a fresh record high close, while the S&P 500 finished just below its July record close […]
Dell beats second-quarter results estimates on strong AI server demand
(Reuters) -Dell Technologies beat Wall Street estimates for second-quarter revenue and profit on Thursday, driven by strong demand for its AI-powered servers amid a recovering personal computer market. Shares of the Round Rock, Texas-based company rose 3.3% in extended trading. Dell has capitalized on increasing demand for its AI servers, which are powered by Nvidia’s […]
Lululemon cuts annual forecasts on tepid US demand, rising competition
By Savyata Mishra (Reuters) – Lululemon Athletica cut its annual sales and profit forecasts on Thursday, hurt by increased competition and selective consumer spending in North America for its pricey leggings and tank tops. Its shares, which have lost nearly half of their value this year, reversed early losses to rise 2.3% after the bell, […]
HP returns to revenue growth, driven by PC market recovery and AI demand
(Reuters) – HP Inc beat Wall Street estimates for third-quarter revenue on Wednesday, marking its first quarter of revenue growth after eight consecutive quarters of decline. The turnaround was primarily driven by a recovery in the personal computer market, bolstered by demand for artificial intelligence-capable systems. The PC market has been on a resurgence lately […]
Chipotle names company veteran Adam Rymer as finance chief
(Reuters) -Chipotle Mexican Grill on Wednesday appointed Adam Rymer as its chief financial officer from Oct. 1. Rymer is a 15-year Chipotle veteran, who previously served as vice president of finance. Rymer will report to interim CEO Scott Boatwright. The company also said Jack Hartung, former chief financial and administrative officer, will serve “indefinitely” as […]