By Ron Bousso LONDON (Reuters) -Shell reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining
Month: May 2024
Qualcomm jumps as AI sparks rebound in Chinese smartphone market
(Reuters) – Qualcomm shares climbed about 10% to a more than two-year high on Thursday after the smartphone-focused chipmaker signaled an AI-fueled rebound in demand,
Rivian receives $827 million in incentives to expand Illinois facility, shares jump
(Reuters) -Rivian Automotive said on Thursday it has received $827 million in an incentive package from the State of Illinois to expand operations at its
Cummins revenue misses estimates as truck demand stays on slow lane
(Reuters) – U.S. truck engine maker Cummins Inc missed Wall Street estimates for first-quarter sales on Thursday, dragged down by waning demand in China and
AMD, Super Micro spark chip selloff as earnings miss lofty AI expectations
By Harshita Mary Varghese (Reuters) -Advanced Micro Devices and Super Micro Computer led a selloff in chip stocks on Wednesday after their earnings disappointed investors
Apple set for big sales decline as investors await AI in iPhones
By Yuvraj Malik (Reuters) -Apple’s plan to add generative AI to its iPhones and revive sagging sales in the crucial Chinese market will be in
Starbucks shares hit two-year low as China, US demand clouds outlook
By Juveria Tabassum (Reuters) – Shares of Starbucks fell 15% to their lowest in nearly two years on Wednesday, after the coffee chain cut annual
Amazon results beat estimates, revenue forecast misses
By Greg Bensinger and Yuvraj Malik (Reuters) -Amazon.com reported quarterly results above Wall Street’s expectations on Tuesday, as interest in artificial intelligence helped drive cloud-computing