Cisco to Cut Over 4,000 Jobs, Redirecting Investments Towards Artificial Intelligence
Company
Earnings Typo Error Sends Lyft Stock on Wild Ride, Questions Raised
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JetBlue Shares Soar After Carl Icahn Discloses Stake
"JetBlue Airways saw its shares surge by over 15% following the revelation that corporate titan Carl Icahn had acquired a nearly 10% stake in the airline, branding it as undervalued. The disclosure of Icahn's significant investment has stirred the market, coming at a crucial juncture for JetBlue as it endeavors to navigate post-pandemic recovery and the fallout from a thwarted merger with Spirit Airlines. -
Diamondback Energy's $26B Acquisition to Create a New Global Oil Giant Valued at over $50B
"Diamondback Energy, an American shale oil and gas producer, has announced a colossal acquisition that could give birth to a new global oil behemoth.
The Latest
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Micron to Receive Over $6 Billion in U.S. Grants for Chip Manufacturing Expansion - Report
Micron Technology Inc., a leading U.S. memory chip manufacturer, is on the verge of receiving a significant financial boost from the U.S. government, with more than $6 billion in grants slated to support its domestic semiconductor factory projects. This move is part of a broader federal effort under the 2022 Chips and Science Act to revitalize American chip manufacturing and reduce dependency on foreign supply chains. 
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Tesla to Revisit Musk’s $56 Billion Compensation and Proposes Moving Incorporation to Texas
Tesla Inc. is once again making headlines with two controversial proposals slated for shareholder voting: reinstating CEO Elon Musk's $56 billion compensation package, which was previously nullified by a Delaware judge, and relocating the company's incorporation from Delaware to Texas. This move reflects Tesla's aggressive strategy to address legal setbacks and reshape its corporate governance landscape. 
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United Airlines Blames Boeing 737 Max 9 Grounding for $200 Million Q1 Earnings Hit
United Airlines has reported a $200 million hit to its earnings in the first quarter of the year, largely attributing the loss to the three-week grounding of Boeing 737 Max 9 jets following a mid-flight blowout incident on an Alaska Airlines flight in January. The US carrier stated that without the disruption caused by the grounding, it would have reported a quarterly profit. 
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LVMH Reports Modest Growth in Q1 Amid Strong Demand for Fashion and Leather Goods in China
LVMH, the luxury goods conglomerate, announced its financial results for the first quarter, revealing modest growth amidst varying performances across its business segments. Despite a general decline in global sales, the company expressed satisfaction with a nearly 10% increase in demand for fashion and leather goods in China, highlighting a bright spot in its latest financial quarter. 
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Johnson & Johnson's Q1 Results: Medical Device Sales Surge, but Stelara and Vision Products Lag
Johnson & Johnson reported mixed first-quarter results on Tuesday, with adjusted earnings surpassing Wall Street's expectations despite underwhelming sales in its medical devices and pharmaceutical divisions. The healthcare giant's shares closed more than 1% lower following the announcement, as investors weighed the company's performance and ongoing talc-related liabilities. 
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India Delays Paytm's $6 Million Investment Over Chinese Ownership Concerns
Paytm, one of India's leading digital payment providers, has hit a regulatory roadblock with the Indian government deferring approval for a significant investment into its Paytm Payment Services arm. 
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GM to Relocate Corporate Base to Hudson's Tower, Plans Renaissance Center Redevelopment
General Motors is set to move its headquarters to a new skyscraper in downtown Detroit, marking a significant shift from its long-standing base at the Renaissance Center. This move was confirmed ahead of a scheduled press conference with GM CEO Mary Barra and Dan Gilbert, a prominent real estate developer and owner of the NBA's Cleveland Cavaliers. 
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Boeing Lags Behind Airbus in Q1 2024 Deliveries Amid Ongoing Safety Concerns
Boeing's commercial aircraft deliveries have taken a significant hit in the first quarter of 2024, with the U.S. manufacturer delivering just 83 planes, a sharp decline from the 130 delivered in the same period last year. In contrast, European rival Airbus saw a 12% increase in deliveries, with 142 planes delivered in Q1 2024, up from 127 in the same quarter of 2023. 
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Goldman Sachs Reports Strong Q1 Earnings, Led by Investment Banking Surge
Goldman Sachs has reported its highest earnings per share since 2021, marking a significant rebound with a 28% rise in profit to $4.13 billion for the first quarter, or $11.58 per share, surpassing Wall Street expectations of $8.56 per share. This financial uplift was primarily driven by a resurgence in its investment banking sector, which saw a 32% increase in fees, amounting to $2.08 billion. 
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Samsung to Receive $6.4 Billion CHIPS Act Funding for Massive Semiconductor Plants in Texas
The Biden administration has announced that Samsung, the South Korean electronics giant, will receive $6.4 billion in direct funding under the CHIPS and Science Act to support the company's $40 billion investment in building a massive chipmaking hub in Taylor, Texas, and expanding its existing facility in Austin. 
