Communications services companies ticked down as traders took a step back from high-risk, high-growth sectors.

Social-media company Reddit is seeking to raise up to $748 million in its initial-public offering, aiming for a valuation of up to $6.4 billion as it readies its planned market debut.

Elon Musk's artificial-intelligence startup xAI will open-source Grok, its chatbot rival to OpenAI's ChatGPT, the entrepreneur said.

Legislation that would ban TikTok in the U.S. or force its sale is hurtling toward a vote in the House following months of behind-the-scenes efforts on Capitol Hill. The new push caught the service off-guard, ratcheting up interest from possible buyers and raising the possibility that one of the most popular apps in the country could soon be shut down.

Chinese phone maker ZTE posted 2023 earnings and revenue.

Nintendo and Santa Monica-based animation studio Illumination will produce a new animated film based on the Super Mario game franchise, following the blockbuster success of last year's "The Super Mario Bros. Movie."


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

03-11-24 1706ET