(Reuters) -Qualcomm made a takeover approach to chipmaker Intel in recent days, the Wall Street Journal reported on Friday, citing people familiar with the matter. Intel’s shares reversed course to rise 8%, while Qualcomm fell 4% in afternoon trade. Intel has been attempting to turn its business around by focusing on its chip foundry unit…
By Juveria Tabassum (Reuters) -Nike said on Thursday that former senior executive Elliott Hill will rejoin the company to succeed John Donahoe as president and CEO, as the sportswear giant shakes up its top rank amid efforts to revive sales and battle rising competition. The company’s shares were up 9% in extended trading. Hill was…
(Reuters) -FedEx reported a drop in first-quarter profit on Thursday and lowered the top end of its annual profit forecast as demand in the package industry remained muted, especially for priority services. The company’s shares fell about 11% to $268.21 after the bell. FedEx and other transportation firms expanded operations during the pandemic-fueled online shipping…
(Reuters) – JPMorgan Chase has created a new role that will oversee its junior bankers and analysts amid a focus to tackle the persistent problem of overworking on Wall Street. Ryland McClendon, a near 14-year JPMorgan veteran, has been named as the global investment banking associate and analyst leader, according to an internal memo sent…
By Sheila Dang (Reuters) – Snap announced an upgraded version of its Spectacles augmented-reality glasses on Tuesday, doubling down on its bet that wearable devices to enhance the view of the real world will be one of the next frontiers in tech. Snap, long known for its ephemeral messaging app Snapchat and animated filters, has…
WASHINGTON (Reuters) – Delta Air Lines on Friday asked the U.S. Transportation Department to allow it to delay resuming four daily flights to China, citing ongoing challenges in the market. The U.S. air carrier currently operates daily flights to Shanghai from Seattle and Detroit, but asked for approval to not reinstate two other daily flights…
By Jonathan Stempel (Reuters) – Walgreens Boots Alliance agreed to pay $106.8 million to settle charges it fraudulently billed the U.S. government for prescriptions that were never dispensed, the Department of Justice said on Friday. The Justice Department said Walgreens violated the federal False Claims Act between 2009 and 2020 by submitting payment claims to…
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…
(Reuters) -Delta Air Lines said on Thursday it was seeing an improvement in third-quarter unit revenue trends, citing strength in travel demand and moderating capacity across the industry. The airline also said it was expecting its third-quarter profit per share to be in the top end of its previous forecast range of $1.70 to $2.00,…
(Reuters) -AI heavyweight OpenAI is in talks to raise funds at a valuation of $150 billion, Bloomberg News reported on Wednesday, a move that would fortify its status as one of the biggest startups in the world. The company is discussing raising $6.5 billion from investors, the report said, citing people familiar with the matter,…
