Reddit Plans to Sell Stock to Loyal Users in Unusual IPO Wager

Social-media company intends to offer shares in the offering to 75,000 of its biggest users. 


 
Jazz Pharmaceuticals Names Eli Lilly's Philip Johnson as Next CFO

The newly appointed finance chief will join the biopharma company on March 1. 


 
Amazon Is Joining the Dow Jones Industrial Average

The online retail giant will succeed Walgreens in the storied stock index. 


 
Nokia Partners With Nvidia on AI in Mobile Networks

Nokia said that under the agreement, it will use Nvidia processors with its software to develop cloud network technology and explore how artificial intelligence can help transform the industry. 


 
Walmart's Streaming Play Swamps Roku

The retail giant's acquisition of Vizio raises distribution worries as Roku's platform growth has slowed. 


 
BAE Systems Sees Solid Growth as Global Conflicts Mount

BAE Systems forecast a 6%-8% rise in underlying earnings this year as governments ramp up spending on military equipment, faced with escalating geopolitical tensions, after the defense group reported above-consensus results in 2023. 


 
As Hybrids Become More Popular, Their Green Benefits Are Questioned

Automakers are battling with climate groups over how gas-electric vehicles are marketed as regulators prepare new emission rules. 


 
Brace for Stock Volatility When Lucid Reports Earnings

For the fourth quarter, Wall Street expects Lucid used about $1 billion in cash building its business. The company ended the third quarter with about $4.9 billion in cash on its books. 


 
HSBC Books Hefty China Impairment But Unveils Fresh Buybacks

The Asia-focused bank's earnings were hurt by impairments related to its investment in a Chinese bank, but higher full-year earnings prompted the lender to unveil up to $2 billion in fresh share buybacks. 


 
Rio Tinto Pares Dividend on Commodity-Price Fall

The miner reported a 19% decline in annual net profit and cut its payout to shareholders following a drop in prices of aluminum.


(END) Dow Jones Newswires

02-21-24 0915ET