Apple Lays Off 614 Workers After Canceling Car Project

The tech giant announced its first major job cuts since the pandemic on the heels of its decision to cancel its vaunted electric-car project. 


 
Shell Sees Gas Output Above Guidance

Shell said it expects first quarter gas production to beat its previous guidance after a strong start to the year but earnings would be lower than the prior quarter. 


 
Tesla Stock Wipes Out Losses That Followed Deliveries Report. Here's Why.

Tesla stock traded above $177 on Thursday, about $2 higher than where the stock was before the EV maker's first-quarter delivery disappointment. 


 
Samsung Forecasts 10-Fold Profit Increase

Analysts expect Samsung's memory-chip business to swing to profit thanks to higher chip prices on brisk demand amid the artificial-intelligence boom. 


 
LG Electronics Expects Operating Profit to Slide

The South Korean consumer-electronics giant expects its first-quarter operating profit to drop 11%. 


 
China Oilfield Services Suspends Operations of Four Mideast Rigs

China Oilfield Services has suspended operations of drilling rigs related to a multibillion-dollar contract in the Middle East, a setback for China's largest offshore drilling contractor in one of its most important international markets. 


 
A Tiny Activist Fund Is Trying to Unseat Larry Fink

The proposal from Bluebell Capital to remove the BlackRock CEO as chairman faces long odds. 


 
Huawei Sanctions-Evasion Trial Pushed to 2026 After Settlement Negotiations Fizzle

Prosecutors have indicated a trial could last more than six months. Lawyers for the Chinese tech giant say they intend to ask a judge to split the case into two separate trials. 


 
Lamb Weston leads losses among S&P 500 stocks in its largest one-day drop ever on earnings miss

Lamb Weston Holdings Inc.'s stock fell nearly 20% on Thursday, for its largest one-day loss on record, after the potato-processing company blamed a slower-than-expected switch to a new software system for impacting its third-quarter results. 


 
Disney to Crack Down on Password Sharing

The effort is starting with a few countries in June, and a wider rollout is set for September.


(END) Dow Jones Newswires

04-05-24 0515ET