Deere's stock slides after company again lowers guidance

Deere & Co. Inc.'s stock tumbled 5.5% early Thursday, after the maker of agricultural and construction machinery posted better-than-expected earnings for its fiscal second quarter but offered guidance that fell short of estimates. 


 
AIG to Sell 20% of Corebridge to Nippon Life for $3.8 Billion

Insurance giant American International Group has struck a deal to sell a stake in its majority-owned life-and-retirement arm Corebridge Financial to Japan's Nippon Life Insurance for $3.8 billion. 


 
A Legal Scholar Critiqued Elon Musk's Pay. Now He's Out of a Job.

The carmaker threatened to fire a law firm over Charles Elson's objections to the CEO's proposed pay package, an email suggests. 


 
Baidu Posts Quarterly Beat, Helped by AI Pursuits

Chinese search-engine giant Baidu reported a drop in quarterly profit, but beat top- and bottom-line estimates, helped by stable online marketing revenue and rising sales from its AI Cloud business. 


 
Roche Climbs After Weight-Loss Drug Shows Efficacy

Roche Holding said a drug candidate achieved positive results for weight loss in an early-stage clinical trial in adults with obesity. 


 
Chinese Retailer Temu Under Fire From European Consumer Groups

Temu, the discount retailing app owned by Chinese e-commerce giant PDD Holdings, is facing consumer complaints that its business practices violate a new online content law in Europe. 


 
Microsoft Asks Hundreds of China-Based AI Staff to Consider Relocating Amid U.S.-China Tensions

The request comes as the Biden administration toughens controls on China's access to cutting-edge American technology. 


 
Deutsche Telekom Backs Guidance After Strong First Quarter

Deutsche Telekom maintained its full-year guidance after it reported profits and core earnings for the first quarter above consensus, boosted by growth in core markets. 


 
Siemens to Sell Innomotics to KPS Capital Partners for $3.8 Billion

Siemens agreed to sell its Innomotics large motors business to private-equity firm KPS Capital Partners, the latest move by the German industrial giant to reshuffle its portfolio. 


 
Japan's Biggest Insurer Plans to Go Big on Foreign Credit

Nippon Life Insurance, the largest insurer in Japan by asset size, is planning to invest more in foreign credit markets, looking to diversify its portfolio even as key domestic yields hover at decade highs.


(END) Dow Jones Newswires

05-16-24 0715ET