By Jaspreet Singh (Reuters) -Oracle shares pared most of their gains on Friday after spiking nearly 8%, with some analysts expressing reservations about the company’s forecast of crossing $100 billion in revenue in fiscal 2029, driven by AI-led demand for cloud services. The company, which counts AT&T, Lyft and Cognizant among clients, forecast fiscal 2029 […]
Nvidia’s stock market dominance fuels big swings in the S&P 500
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Nvidia’s huge stock rally is still exerting an outsized influence over the S&P 500 index , reinforcing concerns that broader markets could be hurt if the chipmaking giant’s fortunes turn. This year’s 140% surge in shares of Nvidia, whose chips are seen as the gold standard in […]
Moderna expects up to $3.5 billion in 2025 sales
By Patrick Wingrove (Reuters) – Moderna on Thursday said it expects sales of between $2.5 billion and $3.5 billion next year, and forecast that new product launches would drive an average annual growth rate of 25% in revenue between 2026 and 2028. The vaccine maker last month projected sales of $3 billion and $3.5 billion […]
OpenAI launches new series of AI models with ‘reasoning’ abilities
(Reuters) -Microsoft-backed OpenAI said on Thursday it was launching a series of AI models designed to spend more time processing to solve hard problems. The models, dubbed o1 and o1-mini, can reason through complex tasks and solve harder problems than previous models in science, coding and math, the AI firm said. The o1 will be […]
Buffett’s insurance leader Ajit Jain sells large part of Berkshire stake
By Jonathan Stempel (Reuters) – Ajit Jain, the longtime top insurance executive at Warren Buffett’s Berkshire Hathaway, sold more than half of his Class A shares in the conglomerate this week. According to a Wednesday night regulatory filing, the 73-year-old Jain sold 200 Berkshire Class A shares on Sept. 9 for about $139.1 million, at […]
Nippon Steel makes last ditch effort to win U.S. nod on US Steel deal, source says
WASHINGTON (Reuters) – A top Nippon Steel executive plans to meet with senior U.S. officials on Wednesday to try and salvage the firm’s $14.9 billion bid for U.S. Steel, a person familiar with the matter said. The meeting, which will feature Takahiro Mori, a key negotiator on the deal, is also expected to include Treasury […]
Honeywell CEO says ability to supply parts will determine aerospace unit’s growth
(Reuters) – Growth in Honeywell’s aerospace business next year will be determined by its ability to supply parts to Boeing and Airbus, not demand, the industrial giant’s CEO said at a conference on Wednesday. Demand for aircraft parts remains strong but shortages of parts and labor persist, hobbling the industry’s capacity to capitalize on an […]
JPMorgan names David Bauer co-head of ECM Americas
(Reuters) – JPMorgan Chase has named David Bauer as its new co-head of equity capital markets in the Americas, according to an internal memo seen by Reuters on Wednesday. Bauer, who joins the largest U.S. bank from private equity giant KKR, will lead the unit along with Keith Canton, the memo said. He has spent […]
JPMorgan shares slide on more cautious outlook for interest income
By Nupur Anand and Pritam Biswas NEW YORK (Reuters) -JPMorgan Chase shares fell about 6% after the bank’s president on Tuesday tempered expectations about its income from interest payments. President and Chief Operating Officer Daniel Pinto said forecasts for net interest income (NII), or the difference between what the bank makes on loans and pays […]
News Corp would lose $9 million by ditching Google ads, ex-exec testifies
By Jody Godoy ALEXANDRIA, Virginia (Reuters) – News Corp explored switching away from Google’s advertising tools in 2017 but estimated that doing so would lose the Wall Street Journal publisher at least $9 million in ad revenue, a former executive testified on Tuesday at Google’s antitrust trial in Virginia. Google frustrated publishers by introducing features […]