Applied Materials' stock dips despite upbeat earnings

The chip-equipment company's revenue outlook exceeded expectations at the midpoint. 


 
Walmart Posts Sales Growth, Raises Earnings Outlook for the Year

In the U.S., more people shopped at Walmart and bought more products, but the average amount spent per visit was flat compared with the same quarter last year. 


 
Under Armour to Slash Jobs, Warns of Revenue Drop

CEO Kevin Plank said the sportswear brand has tried to do "too much of too much" and will focus on selling fewer products on discounts. 


 
Charles Schwab CFO to Retire Amid Executive Reshuffle

The brokerage firm unveiled several executive changes. Among them, Bernie Clark will step down from his role leading the unit that caters to independent financial advisors. 


 
Meta Faces EU Probe Over Facebook, Instagram Child-Protection Policies

The investigation, which could eventually lead to a fine, will look into the platforms' use of algorithms that officials said may stimulate addictive behavior in children. 


 
Deere's stock slides after agriculture equipment maker again lowers guidance

Deere & Co. Inc.'s stock tumbled 3.5% 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. 


 
Crescent Energy to Acquire SilverBow in $2.1B Deal

SilverBow Resources has agreed to be acquired by its Houston-based rival Crescent Energy in a deal valued at $2.1 billion. 


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

Insurance giant AIG 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. 


 
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. 


 
Chinese Regulator Flags Synopsys Acquisition of Ansys

The chip software maker disclosed in a regulatory filing that China's State Administration for Market Regulation took the position that Synopsys must have the tie-up cleared by regulators before it can go forward.


(END) Dow Jones Newswires

05-16-24 1715ET