By Jonathan Stempel (Reuters) -A divided U.S. appeals court said Meta Platforms must face a class action by advertisers that accused the Facebook and Instagram owner of overcharging them by fraudulently inflating the number of people their ads might reach. In a 2-1 decision on Thursday, the 9th U.S. Circuit Court of Appeals in San…
By Lisa Baertlein and Aishwarya Jain (Reuters) -FedEx narrowed its fiscal 2024 profit forecast on Thursday, raising the bottom end and lowering the top, as cost cuts take hold and share buybacks help offset less business from its largest customer, the U.S. Postal Service. Shares of the parcel delivery firm jumped 13% in extended trading…
By Annett Mary Manoj (Reuters) -Lululemon Athletica forecast annual revenue and profit below expectations on Thursday as demand wanes for the apparel retailer’s premium athleisure mainly in the North American region, sending its shares down nearly 11% in extended trading. In the U.S., excessive inventory levels at sporting retailers has resulted in lower orders for…
By Medha Singh and Aditya Soni (Reuters) – Memory chipmaker Micron Technology surged to a record high on Thursday after its strong revenue forecast fanned optimism that soaring demand for AI hardware would take the Nvidia supplier to new peaks. The stock was last up 15%, lifting the broader Philadelphia chip index 3% higher. Micron,…
