By Manya Saini and Niket Nishant (Reuters) -Embattled New York Community Bancorp faced its third credit-rating cut on Thursday while default worries from exposure to the beleaguered U.S. commercial real estate (CRE) took its toll on lenders in Europe and Asia. Morningstar DBRS on Thursday downgraded NYCB’s credit rating due to “outsized” exposure to CRE,…
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 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…
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 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…
By Andrew Chung and John Kruzel WASHINGTON (Reuters) – Donald Trump will try to persuade the U.S. Supreme Court this week to reverse a judicial decision to kick him off the ballot in Colorado over his actions concerning the Jan. 6, 2021, Capitol attack, arguing that the constitutional provision his opponents cite does not apply…
(Reuters) -Nvidia’s shares scaled a new peak on Monday after Goldman Sachs raised its price target for the high-flying chipmaker’s stock in anticipation of a major boost to its earnings from the artificial intelligence (AI) boom. The stock rose about 4% to $689.21 and looked set to add about $70 billion to the company’s market…
