Shopify Stock Plunges on Revenue Outlook

The e-commerce platform expects sales growth to slow in the current quarter. Revenue rose 23% in the first quarter. 


 
Uber Swings to Loss Despite Rising Revenue

The ride-hailing company's bottom line, which had at last turned positive last year, was hit by investments and legal settlements. 


 
Meta Launches New AI Tools for Advertisers

Meta Platforms is expanding a suite of generative artificial-intelligence tools for use by its advertisers, the company's latest move to integrate AI into its consumer products. 


 
Wells Fargo Hires Ex-JPMorgan Investment-Bank Boss Fernando Rivas

The San Francisco lender is focused on expanding its relatively small investment bank. 


 
Microsoft to Invest Over $3 Billion to Build AI in Wisconsin

The company has been on a global spending spree, trying to build infrastructure and goodwill for artificial intelligence. 


 
To Survive in China, Global Automakers Tap Local Tech Giants

A host of global automakers are increasingly turning to Chinese tech giants in a bid to claw back market share in one of the world's largest-and fastest-changing-auto markets. 


 
Refinery29's New Owner Plans to Cover Sports, Buy More Media Companies

Essence taps advertising executive Kirk McDonald to lead Sundial Media Group, a holding firm tasked with making more deals. 


 
KKR to Buy Perpetual's Units for Over $1 Billion

The Australian financial company will become a stand-alone, multi-boutique asset management business with the sale of its corporate trust and wealth management divisions to KKR. 


 
Companies Are Balking at the High Costs of Running Electric Trucks

A Ryder analysis shows operating expenses of low-emissions rigs are far higher than those for diesel trucks. 


 
Elon Musk Dispatches Tesla's 'Fireman' to China Amid Slowing Sales

Tom Zhu, one of the three executives named on Tesla's website, is returning to China as the carmaker seeks to launch Autopilot features there.


(END) Dow Jones Newswires

05-08-24 0915ET