By Bloomberg News
Copyright financialpost
Oracle Corp. surged after the company gave an aggressive outlook for its cloud business, stunning Wall Street and galvanizing hopes that the post-ChatGPT global AI infrastructure build-out is accelerating.
Shares of chip-design software maker Synopsys Inc. plunged the most in more than three decades after the company warned that US export restrictions are contributing to a slowdown in China, the largest market for semiconductors.
GameStop Corp. jumped after the video-game retailer reported Hardware and Accessories net sales for the second quarter that beat the average analyst estimate.
Chewy Inc. sank after the retailer of pet products reported its second-quarter results and gave an outlook that failed to live up to high expectations.
JPMorgan Chase & Co., Fifth Third Bancorp and Barclays Plc are among banks bracing for potentially hundreds of millions of dollars in combined losses from loans tied to subprime auto lender Tricolor Holdings, according to people with knowledge of the matter.
Klarna Group Plc was set to begin trading in New York, after the company and some of its backers raised $1.37 billion in an IPO that saw surging investor demand.
Uber Technologies Inc. customers will be able to book Blade’s helicopter and seaplane services directly within the Uber app as early as next year, as part of an expansion of the ride-hailing company’s partnership with Joby Aviation Inc.
Lyft Inc. is piloting autonomous rides in Atlanta with a safety driver on board, a long-planned launch meant to help it better compete against Waymo and Uber Technologies Inc.
Fifth Third Bancorp, which said it was the victim of fraud on a loan with a $200 million balance, believes the situation was an isolated incident in the company’s warehouse-lending business, according to Chief Executive Officer Tim Spence.
Vimeo, the online video platform that has struggled to compete against the likes of YouTube and TikTok, agreed to a $1.38 billion, all-cash takeover by European mobile app developer Bending Spoons.
Novo Nordisk A/S will slash 9,000 jobs globally and cut its profit forecast for the third time this year as it fights to recover ground lost to its more efficient rival Eli Lilly & Co. in the booming obesity drug market.
A group led by BlackRock Inc.’s Global Infrastructure Partners unit has arranged a roughly $10 billion financing package for its planned investment in Saudi Aramco natural gas infrastructure, people familiar with the matter said.
Nio Inc. raised about $1 billion through a share sale, as the Chinese electric-vehicle maker takes advantage of a recent stock rally to fund its growth.
