News Highlights: Top Company News of the Day - Wednesday at 7 PM ET
Meta's Costs Rise Rapidly as Zuckerberg Vows to Keep Spending on AI Arms Race
Meta Platforms reported record first-quarter sales, building on AI momentum in its ad business, although investors soured on forecasts of rising costs.
IBM to Buy HashiCorp in $6.4 Billion Deal
IBM will pay $35 a share for the cloud-software company in cash, giving the company access to HashiCorp's roster of some 4,400 clients.
Ford keeps EV losses in check, stock rises 3%
Carmaker reports a better-than-expected quarter, and EV losses were around Wall Street expectations.
Boeing Burns Through $4 Billion of Cash and Scales Back 737 MAX Production
The aircraft maker has cut production to fix quality problems after door-panel blowout.
McKinsey Under Criminal Investigation Over Opioid-Related Consulting
Justice Department is investigating the consulting firm's advice to manufacturers of OxyContin and other opioid products.
Amazon Introduces Custom AI Capabilities in Race Against Cloud Rivals
The company's cloud-computing unit hasn't made as big a splash as its rivals in AI, betting instead that businesses want to use a variety of AI models.
Chipotle shares rally after earnings beat helped by new menu items
Shares of Chipotle Mexican Grill Inc. rose after hours on Wednesday after the fast-casual Mexican food chain reported first-quarter results that beat expectations, helped by demand for limited-time menu items.
Here's how much the Baltimore bridge collapse is hurting Norfolk Southern
Norfolk Southern's coal-shipping business has been impacted by the Francis Scott Key Bridge collapse.
Hasbro Shares Gain as Cost Cuts Boost Margins
The maker of Transformers action figures and Monopoly board games said it swung to a profit, even as revenue fell.
Blackstone to Buy Franchiser Tropical Smoothie Cafe
The deal values the smoothie chain at around $2 billion, including debt.
(END) Dow Jones Newswires
April 24, 2024 19:15 ET (23:15 GMT)
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