News Highlights: Top Company News of the Day - Wednesday at 3 AM ET

Wanted: Megabank Chief Willing to Work for Half Pay 
 

HSBC, one of the world's largest banks, is looking for a new CEO to run its sprawling operations at a fraction of the pay of a U.S. bank boss.

 
Founder of Binance, World's Largest Crypto Firm, Sentenced to Four Months 
 

Changpeng Zhao's sentence was lighter than prosecutors had requested and the culmination of a multiyear U.S. investigation into crypto exchange Binance.

 
Pinterest's stock soars 17% on big revenue and profit beat, 500 million monthly active users 
 

Pinterest Inc.'s stock soared in extended trading Tuesday following quarterly results and revenue guidance that exceeded Wall Street estimates.

 
AMD boosts its outlook for AI revenue, but stock still falls 
 

AMD lifted its outlook for its MI300 AI accelerator product, which is now expected to drive upwards of $4 billion in revenue this year.

 
Amazon Sales Surge as Company Focuses on AI 
 

The company reported record first-quarter sales as the AI boom powered growth in its cloud-computing unit, helping Amazon continue to shake off last year's postpandemic slump.

 
Tesla shares fall amid reports that Supercharger unit slashed 
 

Tesla Inc. shares dropped Tuesday after the electric-vehicle maker reportedly cut hundreds of more jobs, including its entire Supercharger unit.

 
Starbucks Shares Plunge After Sales, Earnings Miss 
 

Speeding up service and introducing new beverages are part of efforts to win back customers, executives say.

 
TD Bank Sets Aside $450 Million for Possible U.S. Anti-Money Laundering Penalties 
 

Canada's second-largest bank by market capitalization said the provision is related to talks with one U.S. regulator.

 
FTC Targets 'Junk' Patent Listings on Ozempic and Other Drugs 
 

The antitrust cop says that the more than 300 patent listings stall generic competition, keeping prices high for diabetes drugs, inhalers and more.

 
PG&E Nears Deal With KKR for Stake in Power Business Spinoff 
 

The California utility is seeking regulatory approval to sell KKR part of a new company that would house most of its power generation business.

(END) Dow Jones Newswires

May 01, 2024 03:15 ET (07:15 GMT)

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