US stocks edged higher on Friday, supported by renewed optimism around potential diplomatic progress between Washington and Tehran, alongside strong momentum in semiconductor stocks led by Intel. The S&P 500 rose about 0.25%, while the Nasdaq 100 climbed 1.2%. The Dow Jones Industrial Average, however, was down 179 points. The cautious optimism follows reports that
Procter & Gamble exceeded analyst expectations for quarterly earnings and revenue, reporting its first volume growth in a year and sending the company’s shares up approximately 3.3% on Friday. For its fiscal third quarter, P&G reported net income attributable to the company of $3.93 billion, or $1.63 per share, an increase from $3.78 billion, or
Shares in SAP rallied on Friday after the German software giant reported better-than-expected first-quarter profit and reaffirmed its long-term cloud outlook. The strong result came even as concerns around artificial intelligence continue to weigh on the broader sector. SAP’s American depositary receipts rose 7.3% to $175.31, recovering from a 6.2% decline in the previous session.
Best Buy has announced a leadership transition, naming Jason Bonfig as its next chief executive officer, replacing Corie Barry later this year. The move comes at a critical juncture for the consumer electronics retailer, which is grappling with sluggish sales growth and shifting consumer behaviour in a high-cost environment. Bonfig will take over as CEO
Robinhood’s proprietary investment vehicle for retail investors has taken a small stake in privately held OpenAI, the trading company announced on Wednesday. The Robinhood Ventures Fund I (RVI), which offers investors exposure to private technology companies, invested $75 million in the artificial intelligence firm. The fund went public and began trading on the New York
US stock indices moved higher on Wednesday after President Donald Trump extended the ceasefire with Iran, even as uncertainty persisted over the durability of the truce. The Dow Jones Industrial Average rose by more than 417 points, or about 0.85%, while the S&P 500 gained roughly 0.67% and the Nasdaq 100 climbed 0.72%. The gains
The US Federal Reserve is likely to wait at least six months before cutting interest rates this year, as inflation pressures persist, according to a Reuters poll of economists. The delay comes amid rising energy prices triggered by the ongoing conflict in the Middle East. The war, now nearing two months, has led to a
The war in Iran and the resulting closure of the Strait of Hormuz have created an acute shortage in the oil market. But, public attention has mostly been towards crude oil. However, the shortage is even more significant in jet fuel. The record high price of jet fuel—nearly $1,800 per ton in early April—reflects this
Eli Lilly said on Monday it will acquire privately held Kelonia Therapeutics in a deal worth up to $7 billion, as the drugmaker deepens its presence in next-generation cancer treatments. The agreement includes an upfront payment of $3.25 billion, with additional payouts tied to clinical, regulatory and commercial milestones. The transaction is expected to close
Three months ago, European investors were pouring money into the continent’s stock markets at a record pace, betting that years of underperformance were finally coming to an end. The euro was strong, defence stocks were surging, and the valuation gap with the US was too wide to ignore. Then came the Iran war, the closure