Amazon Sales Surge as Company Trains Focus on Artificial Intelligence

The company reported record first-quarter sales as the AI boom powered growth in its cloud-computing unit, helping Amazon continue to shake off last year's post-pandemic slump. 


 
AMD's outlook fails to impress, and its stock falls

The chip company gave a revenue forecast that was in line with the consensus view at the midpoint. 


 
PG&E Nears Deal With KKR for Stake in Power Business Spinoff

The California utility is seeking regulatory approval to sell KKR part of a new company that would house most of its power generation business. 


 
Starbucks Shares Plunge After Sales, Earnings Miss

Speeding up service and introducing new beverages are part of efforts to win back customers, executives say. 


 
UnitedHealth Braces for Capitol Hill Grilling

Chief Executive Andrew Witty is expected to testify before House and Senate committees Wednesday about the Change Healthcare hack. 


 
Norfolk Southern CEO Gets ISS's Backing in Proxy Fight

Norfolk Southern's CEO has been endorsed by top proxy firm Institutional Shareholder Services as the railroad's leadership works to fend off a proxy fight from investors led by Ancora Holdings. 


 
Meta Faces EU Probe Over Disinformation Ahead of Elections

The European Union is investigating whether Meta Platforms shirked responsibility in tackling disinformation and misleading advertising in breach of its sweeping digital-competition law ahead of EU elections in June. 


 
Jean Paul Gaultier Owner Puig Brands Prices IPO at Upper End of Range

Puig Brands has priced its initial public offering at the high end of the previously announced range as it prepares to list Friday, in what is set to be the largest IPO so far this year. 


 
McDonald's Seeks to Make Menu More Affordable for Inflation-Weary Consumers

The burger chain reported slower-than-expected same-store sales growth for the first quarter. 


 
FTC Targets 'Junk' Patent Listings on Ozempic and Other Drugs

The antitrust cop says that the more than 300 patent listings stall generic competition, keeping prices high for diabetes drugs, inhalers and more.


(END) Dow Jones Newswires

04-30-24 1715ET