Amazon.com, the Seattle-based e-commerce giant, reported quarterly results that exceeded Wall Street’s expectations. The company saw a substantial increase in interest in artificial intelligence, which ultimately drove growth in its cloud-computing sector. Despite its current-quarter revenue forecast falling below expectations, Amazon’s stock price rose almost 3% in extended trading. The tech company’s Chief Financial Officer,
Wall Street
Eli Lilly’s weight-loss drug, Zepbound, has seen explosive demand leading to a $2 billion increase in the company’s annual sales forecast. This significant growth can be attributed to the increased manufacturing capacity for the drug, allowing for more production to meet the high demand in the market. The company expects significant production increases in the
Recent developments in the pharmaceutical industry have sparked controversy over the negotiation of prices for blockbuster blood clot prevention drugs. A U.S. judge recently upheld a law requiring companies like Bristol Myers Squibb and Johnson & Johnson to negotiate drug prices with the U.S. government’s Medicare program. This decision has raised concerns among drug manufacturers
Lattice Semiconductor missed revenue expectations by 3.3% in the last quarter, with revenues reaching $170.6 million, a decline of 3% year-on-year. This disappointing performance was further accentuated by the weak revenue guidance for the upcoming quarter. The company is set to report a 23.9% year-on-year revenue decline to $140.2 million this quarter, a stark reversal
In a recent development, Daimler Truck has reached a new labor contract with over 7,300 hourly workers represented by the United Auto Workers (UAW) at six facilities in the U.S. South. This agreement comes as a relief, averting a strike that was looming at the 11th hour. UAW President Shawn Fain expressed his satisfaction with
Asian stocks saw a rise on Friday, mainly driven by gains in the technology sector. Investors were pleased with the strong earnings reported by Microsoft and Alphabet. The positive performance of these tech giants boosted market sentiment across the region. Japanese stocks, on the other hand, did not perform as strongly as their Asian counterparts.
Royal Caribbean, a major player in the cruise industry, recently announced their first-quarter earnings which surpassed analysts’ expectations. The company reported an adjusted EPS of $1.77, exceeding the consensus estimate of $1.32. Additionally, revenue for the quarter came in at $3.7 billion, higher than the expected $3.69 billion. This strong performance was attributed to robust
Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, is facing a 36-month prison sentence after pleading guilty to violating money laundering laws. This news came after U.S. prosecutors filed a court document recommending the harsh sentence for Zhao. Despite stepping down as Binance’s chief in November and admitting to the violations, Zhao
Recently, UnitedHealth Group disclosed that hackers managed to access health and personal information of a significant number of Americans from its systems in February. This breach occurred at its Change Healthcare unit, which is responsible for processing approximately 50% of medical claims in the United States. The severity of this attack has caused widespread disruption
Tesla, a major player in the electric vehicle (EV) market, has recently implemented significant price cuts across various key markets, including China and Germany. These reductions come in the wake of similar price decreases in the United States, signaling the company’s struggle amidst declining sales and mounting competition in the EV industry. One notable adjustment