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. 


 
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 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. 


 
Under Armour to Restructure Business, Warns of Revenue Drop

Under Armour said it is putting in place its second restructuring plan in four years after warning of a big drop in revenue in North America this fiscal year. 


 
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 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. 


 
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. 


 
JD.com Beat Estimates With Higher Profit, Sales

Chinese e-commerce giant JD.com posted a rise in quarterly profit, beating estimates as its core businesses grew despite fierce competition with peers such as Alibaba and PDD. 


 
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 its weight-loss drug candidate achieved positive results in an early-stage trial, giving the company a boost in its bid to catch up to Novo Nordisk and Eli Lilly in a class of medicines that has shaken up everything from pharma to snack companies.


(END) Dow Jones Newswires

05-16-24 0915ET