General News

Hess-Chevron merger vote appears ripe for narrow approval May 23, 2024 02:35PM

By Sabrina Valle

HOUSTON (Reuters) - Hess Corp CEO John Hess has until Tuesday to quell a rebellion by shareholders over his handling of what could turn out to be one of the largest mergers in oil industry history: a proposed $53 billion sale of the oil producer to Chevron Corp.

Hess, 70, has spent the past month visiting or calling dozens of investors to gather support. The sale seemed all but certain last fall and Hess still appears... (continue reading...)

Musk's xAI seeking to raise $6 billion in Andreessen Horowitz-backed funding, FT reports May 23, 2024 02:15PM

(Reuters) - Elon Musk's artificial intelligence startup, xAI, is seeking to raise close to $6 billion in a funding round backed by Silicon Valley heavyweights including Andreessen Horowitz, the Financial Times reported on Thursday.

The round would value the startup at $18 billion, and also includes commitments from Sequoia Capital and Tribe Capital, the report said, citing people familiar with the negotiations.

The AI race has been... (continue reading...)

JPMorgan double upgraded Unilever, while cutting Nestle May 23, 2024 12:17PM

Investing.com - JPMorgan has turned positive on Unilever (LON:ULVR), after several years of caution, but has taken a more cautious view on Nestle (SIX:NESN) as its earnings growth moderates.

Unilever has instituted several changes over the past 12 months, analysts at JPMorgan said in a note dated May 23, which have soothed the bank’s concerns, including cultural change and corporate governance; market share underperformance through increased investments and... (continue reading...)

Midday movers: Nvidia, Dell rise; Live Nation, Boeing fall May 23, 2024 11:48AM (Updated - May 23, 2024 11:48 AM EDT)

Investing.com -- U.S. stock futures traded higher Thursday, as solid quarterly corporate earnings overshadowed concerns over interest rates remaining elevated for longer than expected.

Here are some of the biggest U.S. stock movers today:

• Nvidia (NASDAQ: NVDA) stock soared over 10% after the chipmaker’s first quarter earnings blew past estimates, as well as offered up a stronger-than-expected revenue forecast for the current... (continue reading...)

Boeing shares drop on China delivery halt and cash flow concerns May 23, 2024 11:21AM

Boeing (NYSE: BA) Co. disclosed that it has not made recent aircraft deliveries to China due to a request from the country's aviation regulator for additional certification documents.

The documents pertain to the batteries in cockpit voice recorders, which are installed on all Boeing models, including the 787 and 737 Max.

The aerospace giant acknowledged the impact of this halt on its financials, with the company's Chief Financial Officer indicating an expected hit to... (continue reading...)