By Dawn Chmielewski (Reuters) -In 2017, Epic Games was among a handful of companies selected to participate in Walt Disney’s Accelerator incubator program, where the game company’s founder held ambitions of incorporating the entertainment giant’s well-known characters into his digital playground. Now, Disney is making a much bigger bet that will make this possible. Disney…
By Brijesh Patel and Polina Devitt (Reuters) – Spot palladium prices fell below those of sister metal platinum for the first time since April 2018 on Thursday, as growing demand concerns and bets on stable supply weighed on the metal. By 1303 GMT palladium was down 2.8% at $869.6 per troy ounce, its lowest in…
By Samrhitha A (Reuters) -Arm Holdings shares surged more than 55% on Thursday, on track for their best day since a blockbuster market debut in September, powered by strong forecasts on demand for its technology to design chips for artificial intelligence features. The surge would put the British chip designer’s market value at more than…
By Andrew Goudsward WASHINGTON (Reuters) -A U.S. appeals court on Tuesday ruled that Donald Trump does not have immunity from criminal charges accusing him of trying to overturn his 2020 election defeat, but the decision does not mean the former U.S. president will head immediately to trial. Here is a look at next steps in…
By Niket Nishant and Lewis Krauskopf (Reuters) -Shares of New York Community Bancorp closed higher on Wednesday after the lender sought to bolster investor confidence by appointing a new executive chairman and said it could cut exposure to the troubled commercial real estate (CRE) segment. The bank’s shares gained 6.7% on the day, rebounding after…
NEW YORK (Reuters) – Hedge fund manager William Ackman exited his position in Lowe’s after the home improvement retailer earned more than $1 billion in profits for Pershing Square Capital Management’s investors, according to an investor update. “Lowe’s was a highly successful investment for Pershing Square,” Ackman wrote to investors, noting he cashed out after…
By Yuvraj Malik (Reuters) -Uber Technologies forecast quarterly core profit and gross bookings above estimates and reported market-beating results for the holiday quarter on Wednesday, fueled by higher demand in its ride sharing and food delivery businesses. It posted its first annual net profit as a public company as user retention improved, also benefiting from…
By Noel Randewich (Reuters) – Wall Street’s enthusiasm about artificial intelligence has Nvidia on the verge of becoming more valuable than Amazon for the first time in two decades, and the AI chipmaker is not far behind Google-owner Alphabet. A 40% surge in Nvidia so far in 2024 has elevated its market capitalization to $1.715…
By Deborah Mary Sophia (Reuters) -Chipotle Mexican Grill topped market estimates for quarterly profit and sales on Tuesday, helped by its relatively wealthier clientele ordering its burritos and rice bowls despite menu items getting pricier. Shares of the California-based company were up nearly 3% in after-hours trading. While customer traffic dropped 1.6% across the U.S….
By Patrick Wingrove and Bhanvi Satija (Reuters) – Eli Lilly on Tuesday forecast 2024 profit above Wall Street estimates on soaring demand for Zepbound, its recently approved weight-loss drug, and said it would have new supply from expanded manufacturing capacity as soon as this year. Explosive demand for diabetes treatment Mounjaro, which had also been…
